|Day's range||0.996 - 1.002|
|52-week range||0.9189 - 1.0067|
Correction on the Gold was not the deepest on the record. Price managed to use the weekly hammer for an upswing but it was not spectacular. Yesterday’s candle is a shooting star and price came back below the 1260 USD/oz support and broke the lower line of the wedge. Those signs are bearish.
While receding political pressure at Germany helped the EURUSD witness its latest recovery, short-term symmetrical-triangle is likely to confine the pair’s immediate moves. As a result, the 1.1680 can become adjacent resistance for traders to watch, breaking which the 1.1725 may offer intermediate halt prior to fueling the quote towards two-month old descending TL, at 1.1775. In case if the pair continue rising after 1.1775, the 1.1825 and the 1.1850-55 horizontal-region could entertain the Bulls. On the contrary, the 1. ...
The Trump administration announced it would take a softer stance toward Chinese investment than previously reported. New orders for key U.S.-made capital goods and shipments unexpectedly fell in May, but data for the prior month was revised higher. The Commerce Department also reported that the goods trade deficit declined 3.7 percent to $64.8 billion in May as an increase in exports outpaced a rise in imports. The government department also said wholesale inventories increased 0.5 percent in May and stocks at retailers gained 0.4 percent.
Should the pair drop beneath the 1.1640, the 1.1590 and the 1.1510-1.1500 are crucial levels for traders to watch as break of which can drag prices to 61.8% FE level of 1.1415. Given the pair’s ability to surpass the 1.1845 barrier, chances of its rally to 1.1910 & 1.1940 can’t be denied. In addition to the USDJPY’s inability to offer a daily closing below three-month old ascending trend-line, the 50-day SMA level also seems working as a strong support at present, which in-turn favors the pair’s U-turn in direction to the 109.85 and the 110.30 resistances.
Examining CHF Solutions Inc’s (NASDAQ:CHFS) past track record of performance is a useful exercise for investors. It allows us to reflect on whether the company has met or exceed expectations,Read More...
The European Central Bank president, Mario Draghi was speaking at the banking conference event in Portugal last week. The main take away from the speech was that the ECB president promised that the ECB would take time to hike interest rates.
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures closed lower on Tuesday as investors continued to express concerns over a possible increase in OPEC crude supply. Also pressuring prices were the escalating trade dispute between the United States and China.
Japan’s yen and the U.S. dollar strengthened against their major rivals on Tuesday, as the escalating trade conflict between the world’s two biggest economies sent investors scrambling for safer assets. Trade tensions between the U.S. and China were already heightened, when President Donald Trump threatened to slap new import levies on up to $400 billion of Chinese goods late Monday, on top of the $50 billion his administration has already detailed. China responded on Tuesday, saying Beijing will have no choice but to take comprehensive measures in response to the U.S.’s trade moves.
In case if the pair continue trading southwards after 1.1440, the 1.1370, the 1.1330 and the 1.1300 may please the Bears. Assuming that the pair reverses from current levels, the 1.1650 and the 1.1730 can act as immediate resistances before highlighting the 1.1835-50 area for one more time. Alike EURUSD, the NZDUSD is also near to important support-zone, namely the 0.6885-80, but break of which might not trigger the pair’s plunge as an upward slanting trend-line, at 0.6860 now, could still challenge the sellers.
Haven currencies, including the Japanese yen and Swiss franc, inched higher in muted trading Monday, as the trade row between the U.S. and China remained in focus. Trade tensions have been on the rise, with China vowing to retaliate against a U.S. round of tariffs by slapping duties on American export products, including crude oil, and suspending all previous trade agreements with President Donald Trump’s administration. Uncertainty over future relations between the two trade giants saw investors drop risky emerging-market currencies and go for safer ones.
Break of nearly a month-old descending trend-channel signals the USDCHF’s upside towards 0.9900 and the 0.9930-35, if it manages to sustain the breakout, but the 0.9955-60 horizontal-area might confine the pair’s further recovery. In case the quote successfully clears the 0.9960 barrier, the 1.0000 round-figure and the 1.0055 are likely intermediate hurdles that needs to be surpassed in order to meet the 61.8% FE level of 1.0110. On the contrary, pair’s drop below resistance-turned-support figure of 0.9860 can reprint 0.9830 and the 0.9800 mark before taking rest around the ...
For the FX traders, today is all about the FED and all the events surrounding this institution like the rate decision, statement and economic projections. USDCAD is attacking the upper line of the ascending triangle pattern. H4 candle closing above the horizontal resistance will give us a mid-term buy signal.
The breakaway gap in the Euro (in this article, we use “Euro” to refer to the currency pair EUR/USD) on the 24th of April 2017 on the back of positive first round French election results that weekend broke through a resistance trendline from 2014, a 5-month ascending triangle and the 200-day moving average. It heralded a reversal in the trend of the Euro and what followed was a near 1-year rally that took the price from 1.087 to a high of 1.2558, a rise of 15.5%. After consolidating in a symmetrical triangle, the Euro broke to the downside and has been falling for over a month now.
Even after bouncing off the 1.1510, the EURUSD has multiple resistances to clear in order to justify its strength. The first one will be six-week old descending trend-line figure of 1.1725, followed by the 1.1745-50 horizontal-region and the 1.1830-35 resistance-area. If prices manage to surpass 1.1835, the 1.1900 and the 1.1940 may mark their presence on the chart. Alternatively, the 1.1645-40 can offer immediate support to the pair, breaking which it can drop to 1.1580 and then to the 1.1510. Assuming sellers’ ability to drag the quote beneath 1. ...
Though there still remains a significant amount of uncertainty, recent populist movements in Italy have created the possibility of ending the national use of the Euro. Naturally, as a nation of over 60 million and the third largest nation in the Eurozone (after Germany and France), Italy’s abandonment of the Euro could spark a wide variety of far-reaching changes.
Even if immediate descending trend-line restricts the USDCHF’s near-term upside, the pair is yet to conquer more than three-month old upward slanting TL, at 0.9855 now, in order to stretch its latest pullback towards 0.9810 and then to the 0.9785, comprising 50-day SMA. Given the seller’s refrain to respect the 0.9785 mark, the 0.9720 and the 200-day SMA level of 0.9700 can appear on the chart. Should the 0.9855 trend-line number triggers the pair’s U-turn, the 0.9900, the 0.9930 and the 0.9955 are likely adjacent resistances that can be aimed while being long but the 0. ...
The dollar flexed its muscle against the euro Tuesday, as political turmoil in Italy and Spain sent the shared currency to a six-month low against the U.S. unit. The ICE U.S. Dollar Index (IFUS:DX-Y.NYB), which gauges the currency against a half-dozen major rivals, climbed 0.7% to 94.827, and the WSJ Dollar Index(CALCULATED:BUXX), which measures the buck’s performance against 16 rivals, picked up 0.2% to 87.53.
The start of the week’s trading took place around excitement in the political situation in Italy and the unsuccessful attempts of Crude Oil to rebound.
GBPJPY is on our radar for a long time. We were expecting the price to fall down and that is what is happening. Very good, technical setup. The price broke all major supports and is in the free fall, coming back to the long-term downtrend. Potential profit is huge!
Early Monday trading has seen the downward pressure continue for oil prices. Italian stocks rise on prospects of new elections, and Italian bonds strengthen as the populist coalition fails to form a government.
When CHF Solutions Inc’s (NASDAQ:CHFS) announced its latest earnings (31 March 2018), I wanted to understand how these figures stacked up against its past performance. The two benchmarks I usedRead More...
The U.S. dollar index extended its recent downtrend Thursday, pulling further from a 2018 peak, after President Donald Trump canceled a North Korean summit and potential import tariffs on cars brought up renewed fears over trade wars. The Turkish currency hit a historic low against the U.S. unit on Wednesday, before its central bank intervened to stabilize the currency.
Switzerland’s federal government has called for a study into the risks and opportunities of launching the “e-franc”, a proposed state cryptocurrency powered by blockchain technology. The Federal Council, Switzerland’s seven-member executive council that constitutes the federal government, has thrown its support behind a 32-year-old Swiss lawmaker Cédric Wermuth’s call for a formal government study into
A geo-political risk is an ever-present theme in the global financial markets and requires traders to be up to speed on global current affairs, particularly in geographies that have the ability to cause widespread economic disruption, either through supply or from a demand perspective.
Geopolitical risk returned with a vengeance this week, lifting traditional haven currencies and overshadowing other factors such as diverging interest rates and economic data. The geopolitical hot spots are Italy, where euroskeptic parties are weighing on the euro, and North Korea, which is threatening to pull out of the U.S.-led talks that are scheduled next month in Singapore.