The Canadian dollar declined against the USD after the Bank of Canada (BOC) delivered its interest rates decision. As expected, the bank left interest rates unchanged at the current 1.75%. The bank also committed itself to more accommodative policies in the near future. In the monetary policy statement, the key points were: First, the bank […]

The buttered euro is expected to come under fresh volatility in the wake of preliminary Q1 GDP growth data out of the Eurozone on Tuesday at 0900 GMT. The consensus is for a very modest growth as lack of progress in political and economic issues have probably kept investors interest away from EU markets.  Unlike […]

Amazon has been creating higher highs and higher lows after the rebound on the 1305 support level, jumping to a fresh six-month high of 1928 on April 23. Chances for a downside reversal, however, are increasing as the RSI indicator dropped below the overbought territory and the stochastic oscillator posted a bearish crossover within the […]

NZDUSD is continuing last week’s bounce, posting a new three-month low of 0.6580 and at the same time is in progress to confirm another lower low in the short-term. The short-term bias looks negative as prices are developing beneath the Ichimoku cloud and the 20- and 40-simple moving averages (SMAs). The MACD keeps losing ground […]

The US dollar strengthened strongly on Wednesday in the wake of continuing concerns about the continued growth of the global economy proves that investors are not only not sure that this growth will continue as they also fear the collapse of financial bubbles formed in recent years. The dynamics of market assets clearly indicate that […]

The reduction of the pound is understandable because British politicians have forgotten to take a cure for headaches and continue to suffer because of the consequences of the rapid celebration of Easter. In particular, Theresa May’s associates in the Conservative Party are now demanding that “Iron Lady 2.0” be presented to them for their resignation […]

The reduction of the pound is understandable because British politicians have forgotten to take a cure for headaches and continue to suffer because of the consequences of the rapid celebration of Easter. In particular, Theresa May’s associates in the Conservative Party are now demanding that “Iron Lady 2.0” be presented to them for their resignation […]

The weaker than expected macroeconomic indicators of most countries are forcing central banks to abandon plans to normalize monetary policy and look for additional measures to stimulate. Currently, the markets do not expect a rate hike in the foreseeable future with a 50% chance of a decline in the next six months. Following the meeting […]

On April 24, the GBP / USD pair dropped another 35 basis points, having fulfilled a previously successful attempt to break through the 100.0% Fibonacci level. Thus, the current wave counting implies a further reduction of the instrument with targets of 127.2% and 161.8% Fibonacci as part of building the proposed wave 3. Considering the […]

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Wave counting analysis: On Wednesday, April 24, trading ended for 70 bp lower. Thus, the tool performed a successful attempt to break through the minimum of April 2, which resulted in making adjustments to the wave marking. The whole part of the trend, originating from January 10, is transformed into a complex 5-wave structure, which […]

Trend analysis (Fig. 1). On Thursday, technical analysis demonstrates an upward movement. The first upper target is 1.2867 – 8 average EMA (blue thin line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – down; – volumes – up; – candlestick analysis – up; – trend analysis – down; […]

Trend analysis (Fig. 1). On Thursday, the market will continue to move down. The first lower target 1.1142 is a lower fractal and further down. Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; – candlestick analysis – down; – trend analysis – down; […]

For the last trading day, the euro / dollar currency pair showed high volatility of 84 points, as a result of having a breakdown of an important price level. From the point of view of technical analysis, we see a pulsed downward move, where the quotation overcame an important level of 1.1180 in the face […]

Yesterday, the Canadian dollar paired with the American currency tested the 35th figure for the first time since January of this year. The catalyst for the northern impulse was the April meeting of the Bank of Canada and the results were announced last night. The regulator voiced a rather pessimistic position while reducing its forecasts […]

USDCAD has successfully broken the upside border of the symmetrical triangle on Tuesday, letting the bulls to comfortably run as high as 1.3520 on Wednesday – near five-month highs. The market, however, seems to be nearing overbought zone according to the fast Stochastics that are searching for a bearish cross above 80, with the slowing RSI backing this view […]

Dollar index soars to 2-year high as euro, commodity currencies suffer BoC remains on hold but abandons rate-hike bias; loonie drops BoJ commits to low rates until 2020 but yen snoozes ‘King dollar’ returns as euro and antipodeans lose their shine The world’s reserve currency advanced across the board on Wednesday, with the dollar index […]

This spring, XM hosted two forex seminars in quick succession in Egypt, namely in Cairo and in Alexandria, offering retail traders the opportunity to join each educational event with free attendance and learn about relevant trading techniques and risk management strategies. Well-known Senior Market Strategist of Tradepedia, Habib Akiki, whose expertise and teaching techniques captivated […]

EURUSD broke below 1.12 and is making new lows towards 1.1140. Support at 1.1250 did not hold and this was our initial sign telling us that chances for a move towards 1.1150 have increased. Now that price has reached this area we have many things to note. Black line – major resistance trend line Red […]

Dear colleagues. For the currency pair Euro/Dollar, the potential value for the downward movement is the level of 1.1100 and the level of 1.1175 is the key support. For the currency pair Pound/Dollar, the subsequent targets for the downward movement were determined from the local structure on April 23. For the currency pair Dollar/Franc, the […]

For the last trading day, the currency pair pound / dollar showed a low volatility of 74 points, but still maintaining the previously specified interest. From the point of view of technical analysis, we see that the inertial course continued, where after a short pullback from the periodic level of 1.2920, the sellers returned to […]

To open long positions on GBP/USD, you need: Buyers will try to keep the support level at 1.2896 in the first half of the day, and the formation of divergence on the MACD indicator will be an additional signal for opening long positions. The main goal of the bulls will be a breakthrough and consolidation […]

Gold price continues to trade below short-term resistance and has potential for a short-term bounce, justified by the bullish divergence warning by the RSI. Red line – major resistance trend line Blue lines – bullish divergence Green rectangle – major resistance area (previous support) Gold price broke below the important $1,290-80 support area. A back […]

Gold price continues to trade below short-term resistance and has potential for a short-term bounce, justified by the bullish divergence warning by the RSI. Red line – major resistance trend line Blue lines – bullish divergence Green rectangle – major resistance area (previous support) Gold price broke below the important $1,290-80 support area. A back […]

Morning Report: 07.00 London The US dollar is nipping back slightly this morning after cementing its position as the power currency of the moment. The Greenback is stretching to test the highest levels seen since December. Dollar pairs sunk heavily yesterday, led by the AUD/USD which plunged to just above the 0.7000 level, with small […]