Brexit remains on the front lines. British Members of Parliament on the opposition party as well as rebels from the conservative party voted on Tuesday, their first day back after summer break, to take back control of the parliament agenda. This is following Prime Minister Boris Johnsons suspension of parliament till mid-October. As a result, the PM is expected to...
Australia celebrated their first current account surplus with unchanged interest rate at 1%... for now Today Australia released their current account surplus at 5.9B versus the previous fact -1.1B which is well ahead of the expectations, thanks to higher prices for export on Australia’s key resources like iron ore and coal. Retail sales on the other hand were...
Today is a better morning for the Euro than the British Pound. Better than expected manufacturing PMI was reported from Spain, Italy and France. German manufacturing PMI came in at just slightly below the forecast and previous fact. Great Britain’s manufacturing PMI, on the other hand, was reported at worse than expected and worse than the previous fact. So far,...
Japan released industrial production MoM for July. Data came in at better than expected 1.3% against the previous fact of -3.3% and ahead of the forecast of 0.3%. German Retail sales were revised to the downside from 3.5% to 3.0% and a worse than expected reading came in today at -2.1% MoM for July. At 12:30 GMT the United States and Canada will release reports....
Over a week ago, on the 20th of August we did an analysis on NZD JPY. The price is currently travelling near our predicted target area of 67.414. The price actually surpassed our further prediction to the downside and created a new lowest low at 66.306 when the market opened on Monday the 26th with a GAP down on escalating trade war tensions and the announcement...
What happened to the British Pound today? Some say the news were first seen on twitter, no surprise there as investors are probably getting used to the daily abnormality that drives the financial market lately. The new Prime Minister of the United Kingdom has taken another step in the direction of Brexit, with or without a deal. In his move, the government has...
Globally the pair has been in a gradual downtrend for quite some time now, losing about 1300 pips since January of last year. The pair saw 12 consecutive days of losses at the end of July and beginning of August and has since been trading in somewhat of a flat, as we can see on the daily TF. I’ve also identified a local trend line down. Switching to a 4HTF we...
Did the FED meet expectations? Everyone waited last week for Friday and the speech by Fed Chair Jerome Powell to see if he drops any hits on further monetary easing. The Feds tone was demure, he made no notion that rates were going to be cut in September or in the near future. Instead he stated that the FOMC will continue to carefully monitor the situation....
Markets, investors, traders and many more are all waiting for the much-anticipated speech by Fed Chair Jerome Powell, that is to speak today at 14:00 GMT at the Jackson Hole Symposium . Traders will be tuning in to see if they can pick point any hints about further monetary easing in the US. At the time, things are very wishy washy. The last FOMC minutes from...
USD JPY is an interesting pair to observe. The pair was quick to react as bears took control after President D. Trump announced additional tariffs on China. The pair met support that’s been respected several times in history at 105.520 at the opening of August 6th. A bullish engulfing candle followed but resistance prevailed at the 38.2% Fibo level. The next big...
Seems like the financial market is hibernating till Friday and the anticipated speech by Federal Reserve Chair Jerome Powell. Mr. Powell’s speech will be closely watched for hints about the monetary policy decision on September 18th 2019. On July 31st FED lowered the interest rate by 25 basis points for the first time in a decade, stating that further easing will...
NZD JPY is an interesting pair that can be used to assess Risk Aversion on the markets. Risk aversion means that investors and or consumers when faced with uncertainty attempt to lower the uncertainty by lowering the risks of their investments, withdrawing from long term and investing in short term and safe haven assets. Global uncertainty has been rocking the...
BTCUSD chart is adjusted as part of the price channel in which it has been trading since mid-June. In the middle of last week, bulls tried to break through its upper border, but, as expected, this did not happen. As a result of the correction, bitcoin lost about 15%, and altcoins even more in dollar terms. BTC dominance index continues to grow and has already...
Bitcoin has grown by 25% since the end of July and has come to the upper border of the price channel in which it has been trading for the past few months. Bulls passed the area of $10600-11500, but $12000 level was impregnable. And most likely the break through will not happen. Local trend, which raised quotes from $9400 to $12000, was trading without a...
BTCUSD continues to decline in a bearish trend that has been going on for more than a month. $9400 level acts as a powerful local support from the middle of July and does not allow sellers to lower the bitcoin price. This level is also confirmed by the psychological indicator of fear and greed (FGI) - each time the asset price approaches it, FGI goes into the...
The BTCUSD chart continues to correct after updating the annual maximum just below $14000 at the end of June. The movement is concentrated in a fairly wide price channel with a height about $4000. In just a week, from July 10 to July 17, quotes dropped from an upper to a lower channel border, and main cryptoasset lost more than 30% of the price. After reaching...
Bitcoin still looks quite bullish despite the fact that the BTCUSD chart experienced a serious fall on Wednesday. Asset price has fallen by more than 16% or $2100 in dollar equivalent. As a result, the fall was bought off from $11000-11500 and the main cryptoasset began to demonstrate attempts of correction. A sloped price channel was formed in which next price...
Zoomed out our chart on the 1D TF. We see that the global trend for USD CAD is moving upwards . We see a morning star pattern, followed by 3 Green soldiers – indicating 3 days of consecutive growth. A break of the 23.6 Fibo level to the upside , will give us target areas of 1.31885 which is our 38.2 Fibo followed by 1.32351 50% Fibo correction. A move...