Current trend
Yesterday the GBP/USD pair was growing and gained 250 points but then started correcting down and lost 150 points. There is a strong chance that descending movement will continue. Today the pair might be influenced by UK’s Q1 GDP data, due at 10:30 am (GMT+2).
Support and resistance
The price is moving down from the middle MA of Bollinger Bands to the lower one. The price range is narrowing. The price is likely…
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Added by AlexanderLF on June 30, 2016 at 2:05pm —
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Current trend
Yesterday almost 52% of British people voted to leave the European Union, and the Pound crashed to its 30-year low. Moreover, the GBP/USD pair was under pressure from strong data on the number of initial jobless claims in the US. The indicator dropped more than expected from 277 to 259 thousands against the forecast of 270 thousands.
Today attention should be paid to statistics on durable goods orders in the…
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Added by AlexanderLF on June 24, 2016 at 5:38pm —
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XAG/USD, D1
On the daily chart the pair is traded near the upper band of the Bollinger indicator. The indicator is moving up and the price range is expanding. The price is above the moving average line of EMA50, EMA100 and EMA144. MACD histogram is in the positive area, its volumes are slightly decreasing. Stochastic is in the central area, at the border with the oversold area, and its lines are directed downwards.
XAG/USD,… Continue
Added by AlexanderLF on June 23, 2016 at 1:13pm —
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Current trend
The USD has significantly grown against the CAD at the closing session on Tuesday, after two-day decline, which led the price back to the local lows of June. Minor correction was caused by the domination of cautious sentiments in the market. Prior to the referendum on the UK’s membership in the EU, investors do not rush to open new positions, even despite some encouraging signals.
On Tuesday, the head of the US Fed, Mrs. Janet Yellen gave a…
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Added by AlexanderLF on June 22, 2016 at 7:39pm —
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Current trend
Demand for the Yen remains high amid difficulties and risks the global economy is facing. The American Dollar does not manage to show a strong growth being under pressure from mixed macroeconomic data, released in the US. As a result, the USD/JPY pair reached the key support level of 103.50.
Today market participants are following Fed Chair Janet Yellen’s Congressional Testimony, and later this week, attention needs to be paid to US…
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Added by AlexanderLF on June 21, 2016 at 5:46pm —
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Current trend
The pair continues falling amid increasing anxiety on the market due to an upcoming referendum on UK’s membership in the EU, which is forcing investors to switch into safe-haven assets, such as the Yen. In addition, the Yen was supported by the decision by the Bank of Japan not to expand its stimulus program despite low inflation and weak growth of the world economy.
The pair was also pressured by poor data from the US, where the…
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Added by AlexanderLF on June 17, 2016 at 12:31pm —
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Current trend
The pair continues growing despite results of the Federal Reserve monetary policy meeting. The Regulator decided to keep its current monetary policy unchanged and noted in the Monetary Policy Statement that only one more rate increase should be expected this year. The Canadian Dollar came under pressure, as Governor of the Bank of Canada Stephen Poloz expressed concerns regarding the pace of economic growth in the country.
It should be…
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Added by AlexanderLF on June 16, 2016 at 5:23pm —
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Current trend
Today the pair is growing amid some weakening in the US Dollar that remains under pressure prior to the Fed Interest Rate Decision. According to forecasts, the rate will remain unchanged at 0.5% due to the publication of very weak data on the US labour market. Just to remind, the Nonfarm Payrolls came out at 38 thousands that was significantly worse than the forecasts.
At the same time, the Unemployment Rate fell to 4.7%,…
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Added by AlexanderLF on June 15, 2016 at 4:28pm —
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Current trend
On Monday the GBP/USD pair after a short upward correction resumed its downward trend. During the past week, the pair was falling but probably has not reached its lows yet and might continue moving further down. Today attention needs to be paid to statistics on key indices which have been released in the UK and data on retail sales due in the US.
Support and resistance
Bollinger Bands on the 4-hour chart is directed…
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Added by AlexanderLF on June 14, 2016 at 2:16pm —
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A prudent trader knows that learning about the right ways to select a forex broker is an integral part of forex education. And, don’t think the beginners can’t be sagacious. They can be!…
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Added by Sam Wexler on June 13, 2016 at 6:36pm —
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Current trend
In the end of last week, the pair substantially declined amid some strengthening in the US Dollar, which was supported by strong data on the US labour market. The number of Initial Jobless Claims fell to 264 thousands, while economists predicted their growth to 270 thousands.
At the same time, today the Australian Dollar was supported by strong data on the Industrial Production in China. In May, the index grew by 6.0% that was 0.1%…
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Added by AlexanderLF on June 13, 2016 at 2:16pm —
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Current trend
Today the pair significantly fell after ECB President Draghi speech, in which he pointed out to long-term risks for the economy of the eurozone from a prolonged low pace of its growth. He also asserted that the regulator would do everything that is necessary in order to return inflation to its target levels.
In addition, the pair is pressured by approaching referendum in the UK. The country’s exit from the EU could…
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Added by AlexanderLF on June 9, 2016 at 6:25pm —
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Current trend
On Tuesday the AUD/USD pair strengthened to its new local high being supported by results of the RBA monetary policy meeting.
RBA’s assessment of economic prospects was quite optimistic, and interest rates were left unchanged at 1.75%. The Regulator believes that the current monetary policy would be consistent with sustainable growth in the economy. However, inflation in Australia is expected to remain quite low for some time, but…
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Added by AlexanderLF on June 8, 2016 at 1:40pm —
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Current trend
Last week, the EUR/USD pair grew amid weak US labour market data. In particular, the Nonfarm payrolls came in at 38 thousands. However, there still a good chance of the Federal Reserve tightening its monetary policy this summer that may strengthen the US Dollar.
The Euro remains under pressure from a fall in German bond yields. Moreover, as long as there is still uncertainty around Brexit vote, the American currency may get…
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Added by AlexanderLF on June 7, 2016 at 4:50pm —
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Current trend
In the end of last week, the pair significantly grew amid the publication of weak macroeconomic statistics in the US, where the Nonfarm Payrolls came out at only 38 thousands, while economists predicted 164 thousands. The data lowered the probability of an interest rate hike at June’s meeting of the Fed to 4% that lead to a drop in the US against all major currencies.
Today attention needs to be paid to Fed’s Yellen speech that could…
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Added by AlexanderLF on June 6, 2016 at 6:25pm —
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Added by Antje Wagner on June 6, 2016 at 2:48pm —
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Current trend
During the week, the USD/CAD pair has been gradually growing. Yesterday the Canadian Dollar was under pressure, as results of the OPEC meeting in Vienna accelerated a fall in oil prices. Though the Deputy Governor of the Bank of Canada said Canada’s economic prospects are seen as generally favorable, the national currency did not managed to gain due support. At the same time, the US Dollar strengthened amid macroeconomic statistics on US labour market…
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Added by AlexanderLF on June 3, 2016 at 4:38pm —
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Current trend
Since the beginning of the week, the pair continues falling. The Pound was pressured by weak macroeconomic statistics from the UK where the Consumer Credit shrank from 1.822 to 1.298 million Pounds, against a forecasted decline to 1.6 million. In addition, Mortgage Approvals fell from 70.31 to 66.25 thousands.
Today attention needs to be paid to data on the PMI Construction and BOE’s Governor Carney speech in the…
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Added by AlexanderLF on June 2, 2016 at 1:52pm —
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Added by Adam Guptill on June 2, 2016 at 12:11pm —
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