1.Current trend of Brent rate

Crude oil Brent has traded in the range of 105.50-103.50 this week. Sideways movement of oil quotes is explained by some uncertainty in the market. On the one hand, investors are concerned about deterioration of economic situation in EU countries. Situation in China is not very optimistic either; economic indices of the country are declining, which shows slowdown in economic pace. On the other hand, oil process are supported by tension in…

1.Current trend of the currency pair AUD/USD

The currency pair AUD/USD has traded in the narrow range of 1.0205-1.0160 since Tuesday; however on Thursday, after the release of positive data from Australian labour market, the price tried to reach resistance level of 1.0250, as part of ascending correction, but failed to break it down. After that the pair rapidly declined and within 24 hours it lost about 200 points, reaching the lows since June last year. The rise in…

The Canadian Dollar is coming up against resistance and will probably fail if the USD starts a new uptrend.

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AUD/USD: Bouncing off range lows

The aussie has bounced off the monthly pivot and the consolidation range lows at 1.0150 and reached the 1.0250 level, just shy of the key 1.0255 which would add confirmation of a possible reversal. We will probably now get a move above 1.0255 confirming upside and another leg higher, with a possible initial target at the 50-day MA at 1.0340. It is then possible it will be…

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1. Current trend of EUR/USD



Yesterday European currency went up against the USD. Growth in the pair was provoked by strong economic data on German industrial output, which amounted to 1.2% against the forecast of 0.1%. The pair went up, breaking down resistance level of 1.3120, which triggered the increased in demand of Euro.

The pair almost reached the level of 1.3200, after that it fell and continued trading in the sideways correction near the level of…

1. Current trend of the currency pair GBP/USD

On Wednesday currency pair GBP/USD continued upward correction, regaining from sharp decline on Tuesday. The price has reached the level of 1.5590; however the “bulls” failed to reach the 56th figure. The rise of the Pound was driven by sharp increase of the housing price index in Great Britain, which amounted to 1.1% in April. Usually the rise in housing prices follows after the revival of construction sector of economy.…

1. Current trend of the currency pair NZD/USD

The currency pair NZD/USD has been in the downtrend this week and by Thursday the pair has lost about 200 points, going down to support level of 0.8380. However, after publication of the data on employment and unemployment rates in New Zealand, the pair tried to regain some losses. Note, that macro-statistics from labour market of New Zealand was positive: unemployment rate was 6.2%, which is the lowest level since 2010,…

1. Current trend

Gold still traded in the narrow range of 1475.00-1445.00 USD per troy ounce. Yesterday the metal was under pressure and the price fell to the bottom limit of the channel. Investors put a stop to gold trade, focusing on the American stock market, where stocks have demonstrated growth lately. It is likely that the price will rebound from the level 23.6 Fibonacci and go up to the top limit of the channel. Stochastic indicator is in the overbought zone,…

1.  Current trend

Eurozone does not demonstrate a lot of positive data, although the bulls tried to pull the pair up last week. However, after facing strong resistance at the level of 1.3250, the price has reversed. On the chart we can see that the pair was not able to overcome this level and started to go down amid positive U.S. data.

At the opening of European session yesterday the price went up; however the American session set the…

AUD/USD: bear move hits range lows

The down-trend in the aussie continues and has gained fresh impetus from news of an RBA's rate cut. It has now reached the region of the box range lows at 1.0150 where it could begin to consolidate or even bounce. The monthly pivot at 1.0195 adds further support, however, there are no signs of reversal yet and given the RBA action the probabilities may favour a breakdown. A…

1. Current trend of the currency pair USD/CAD

The currency pair USD/CAD has traded in the range of 1.0095-1.0060 since the beginning of the week. Last Friday the pair went down due to positive statistics on the American labour market and the number of jobs, excluding agricultural sector that increased by 165 thousand in April. Unemployment rate fell to 7.5%. The Canadian dollar is also supported by the data on Canadian construction sector: number of permit to construct…

1. Current trend

The daily chart shows that the pair has traded in the narrow range of 0.8400 - 0.8490 since the begging of month, at the same time repeatedly testing the level 0.8400.

Economic data from Europe can trigger further decline in the pair. The data on orders in German industry will become known today. According to experts this index will show decline by half of percent against the growth of 2.3% for the previous period. On the contrary, the data…

1. Current trend

The pair AUD/USD has been declining for a month. At today’s meeting the Reserve Bank of Australia has lowered interest rate by 0.25%, from 3% to 2.75%. Therefore, although many analysts predicted that interest rate would be left unchanged, the Bank of Australia decided to make the change. Before that the pair traded near the level of 1.0240, but after the news was announced, the rate fell to the level of 1.018. Later, the rate corrected to the level of…

EUR/USD: Long-Term P&F Target

A long-term target of 1.4100 has been fixed on the 50 pip box point & figure chart as illustrated below. This is quite a reliable chart for trading longer-term based on results from the last 12 years. Now to activate the target and trigger a trading opportunity the exchange rate would have to move up to 1.3250 in the current column. This would also trigger a triple top…

As reported by Market Leader (US)

There are many traders who think they can trade Forex successfully with ease. Is it really so? The stats show that only 5% to 10% of Forex traders do actually make money in the long run. Yet, the stats remain almost unchanged for years while new beginners keep entering the Forex trading environment, being excited by catchy promising commercials and big promises. They start trading big off the bat but…

AUD/USD: Correcting Down-move

The current rally in the aussie which began on the 2nd of May is probably a correction which will run out of steam, most probably at 1.0345 where the 50-day MA and a down-sloping trend-line intersect. After that we could see the next leg lower take shape, falling down to 1.0195 initially but ultimately to the wider consolidation lows at 1.0150. Alternatively, a break above 1.0385…

EUR/USD: Bearish signs, ECB on tap

Eurodollar has stalled in its up-trend and formed a bearish shooting-star candle on the daily chart. On the hourly chart there is a head and shoulders pattern with a neckline at 1.3145. If the pair breaks below the neckline it will probably move down towards the trend-line at 1.3085. Alternatively it is possible the up-trend could resume again, with a break above 1.3200…

The Commerce Department has informed that the trade deficit has narrowed to $38.8 billion during the month of March from $43.6 billion in the previous month. Consensus was calling for a deficit of $42.0 billion.