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China Weekly Letter US Pulls Out the Heavy Weapons by Targeting Huaweirss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 17:50 GMT

The US blacklisting of Huawei is a clear escalation of the trade war Xi-Trump meeting in June could be at risk Xi Jinping prepares people for a new ] The post China Weekly Letter US Pulls Out the Heavy Weapons by Targeting Huawei appeared first on Action...
Weekly Economic and Financial Commentary: Global Economy Pauses, But Will It Refreshrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 17:39 GMT

U.S. Review Housing Looking Up as Dark Trade Clouds Gather Durable goods orders slipped 2.1% during April. The grounding of the 737 MAX led to a 25.1% drop in commercial aircraft orders. However, core capex orders also fell 0.9%, a signal that business in...
The Weekly Bottom Line: Trade Woes Weigh on Marketsrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 17:20 GMT

U.S. Highlights Pessimism dominated markets this week, as negative headlines about U.S.-China trade relations continued. UK PM Theresa May announced her resignation after repeated attempts to get her negotiated Brexit deal through parliament failed. The p...
Week Ahead: May Quits, EU Elections and Trade Warsrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 17:15 GMT

This week has been a volatile one for the markets, with stocks and especially crude oil taking a nose dive after a sharp escalation in the US-China trade dispute the week before, while in the FX markets haven currencies such as the Japanese yen and Swiss ...
Forward Guidance: International Trade Tensions Unlikely to Sway the Bank of Canada Rate Decisionrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 16:19 GMT

International trade tensions unlikely to sway the Bank of Canada rate decision Wednesday Q1 GDP data to follow The Bank of Canada is not expected to make any substantive changes in Wednesdays policy decision. Certainly not to the level of interest rates ...
Bitcoin analysis for May, 24.2019rss: Technical Analysis • Published Fri, 24 May 2019 15:56 GMT

BTC has been trading upwards. The price tested the level of $8.100. Anyway, it looks risky for buying since the key resistance line at the price of $8.233 is there.Yellow rectangle swing high resistanceRed horizontal line swing low supportWhite lines U...
Analysis of Gold for May, 24.2019rss: Technical Analysis • Published Fri, 24 May 2019 15:41 GMT

Gold has been trading sideways at the price of $1.283.85. From our view, Gold did only consolidation before potential new wave up.Red horizontal line swing high resistanceOrange rectangle- Resistance 2White lines bullish flag boundiriesBroken bull flag ...
MARKET WRAP: Mays Departure Moves FTSE Higherrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 14:20 GMT

Pound had more than 100 pip move today and the volatility continues *Crude recovers some of its losses. Stocks The S] The post MARKET WRAP: Mays Departure Moves FTSE Higher appeared first on Action Forex....
Week Ahead US PCE Inflation, BoC Meeting and Aussie Q1 Capex Eyed amid Rising Risk Aversionrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 14:18 GMT

As trade tensions continue to simmer and theres no end in sight to the Brexit turmoil, risk sentiment will probably remain the biggest driver for forex markets in the coming week. But there will still be several market-moving events for investors to keep ...
CHF/SGD 1H Chart: Long-term channel in sightrss: Technical Analysis • Published Fri, 24 May 2019 14:15 GMT

The CHF/SGD currency pair has been trading up since the end of April after it reversed north from the lower boundary of the long-term descending channel at 1.3300. ...
Weekly Focus As Sentiment Turns Sour, We Look for Hard Data to Matchrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 14:12 GMT

Market movers ahead Next week will be fairly slow in terms of US data and we should get a better sense of how resilient the US economy is to the global slowdown the following week, with ISM manufacturing and the May jobs report coming out. We also look fo...
US: Modest Weakening in Durable Goods Made Worse by Aircraftrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 14:08 GMT

Durable goods fell 2.1% in April. While a 25.1% plunge in civilian aircraft orders weighed on the headline, the underlying details were not terribly encouraging. Second quarter equipment spending is now likely to fall. It] The post US: Modest Weakening in...
EUR/USD: plan for the US session on May 24. Buyers reached the morning level of 1.1206, but then slowed downrss: Technical Analysis • Published Fri, 24 May 2019 13:07 GMT

To open long positions on EURUSD, you need: The goal of updating the resistance of 1.1206 was completed at the first half of the day, and as long as the trade is conducted above the new support level of 1.1178, the demand for the euro will continue. The m...
EURAUD Positive in Near Term, Neutral in Medium Runrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 12:42 GMT

EURAUD recorded decent gains in the past month, crossing above its 50- and 200-day simple moving averages (SMAs) to touch 1.6260, a high last seen in January. The short-term picture thus seems positive, though for the medium-term outlook to turn positive ...
The oil market has experienced the worst week in the last six monthsrss: Technical Analysis • Published Fri, 24 May 2019 12:24 GMT

According to experts, this week was the most disastrous for the black gold market in the last six months. Attempts to restore it on Friday, May 24, do not give a special result, although they can help avoid strong subsidence.Oil prices are trying to go "t...
Investor Angst Boosts Safe-Haven Yenrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 12:21 GMT

USD/JPY is almost unchanged on Friday. In the North American session, the pair is trading at 109.60, up 0.01% on the day. On the release front, Japanese National Core CPI improved to 0.9%, matching the forecast. The All Industries Activity indicator decli...
Clouds of Uncertainty Continue for Sterling as Theresa May Announces Resignationrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 11:54 GMT

Theresa Mays decision to step down as Prime Minister is hardly surprising, given her inability to get a Brexit deal through parliament as well as the speculated losses her party are thought to have incurred during the ongoing European Parliament elections...
GBP/USD Outlook: PM May Announced Her Resignation, Opening a Number of Brexit Scenariosrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 11:38 GMT

Cable regained traction and quickly recovered from half a cent dip on announcement of the day of Theresa Mays resignation and regained levels above 1.2700 handle. Mays announcement that she will resign as Prime Minister on 7 June opens a number of Brexit ...
GBPUSD Bullish Pattern Buildingrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 11:18 GMT

The British pound has reversed sharply higher against the greenback following continued broad-based weakness in the US dollar index. The four-hour time frame is showing that bullish inverted head and shoulders pattern has emerged, with the pattern holding...
EURUSD Struggling With 1.1190rss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 11:17 GMT

The euro is struggling to move above the 1.1190 level against the US dollar as the implications of the European election results weigh on the single currency. If the EURUSD pair continues to struggle with the 1.1190 level a technical test of the 1.1165 su...
Pound Rally Limited On Brexit Redorss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 11:14 GMT

The long drawn out process for Theresa May to resign is over. PM May] The post Pound Rally Limited On Brexit Redo appeared first on Action Forex....
DAX: Volatility Continues As DAX Climbs Sharplyrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 11:11 GMT

The DAX has rebounded on Friday, after posting sharp losses on Thursday. Currently, the index is at 12,053, up 0.85% on the day. On the release front, its quiet end to the week, with no German or eurozone events. It is Day 2 of the European election, with...
EUR/USD Euro Subdued In Light-Data Sessionrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 11:11 GMT

EUR/USD has paused on Friday, after gaining ground on Thursday. Currently, the pair is trading at 1.1193, up 0.10% on the day. There are no German or eurozone events on the schedule. Todays highlight is U.S. durable goods orders, with the markets braced f...
PM May Confirms To Step Down June 7th, Stocks Rebound Amid Ongoing Trade Tensionsrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 11:09 GMT

Notes/Observations Asia: (AU) Westpac now forecasts 3 RBA rate cuts in 2019 (previously said it saw rate cuts in June and Aug 2019) Now expects the RBA to cut the cash rate to 0.75% by Nov 2019 (current target rate is 1.50%) (NZ) New Zealand PM Ardern: Ec...
Technical analysis of EUR/USD for May 24, 2019rss: Technical Analysis • Published Fri, 24 May 2019 10:51 GMT

Overview: Pivot point: 1.1166.The EUR/USD pair continues to move downwards from the level of 1.1192. Last week, the pair dropped from the level of 1.1192 to the bottom around 1.1111. Today, the first resistance level is seen at 1.1192 followed by 1.1216...
Technical analysis of NZD/USD for May 24, 2019rss: Technical Analysis • Published Fri, 24 May 2019 10:47 GMT

Overview:The NZD/USD pair is showing signs of weakness following a breakout of the lowest level of 0.6571. On the H1 chart, the level of 0.6571 coincides with 38.2% of Fibonacci, which is expected to act as minor resistance today. Since the trend is bel...
Bye Bye May UK PM Will Step Down On June 7rss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 10:23 GMT

Prime Minister Theresa May said on Friday she would step down on June 7, succumbing to calls in her governing Conservative Party to make way for a new leader to try to break an impasse over Britains departure from the European Union. It is now clear to me...
USD/JPY drops to 109.60rss: Technical Analysis • Published Fri, 24 May 2019 10:22 GMT

The USD/JPY has reached a new low level, as on Friday the rate traded in limbo around the 109.60 level. Namely, the 109.45 level was supporting the rate and the 109.70 ...
Pound Drops As Theresa May Resignsrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 10:21 GMT

The big news today is that Prime Minister Theresa May has announced, as widely anticipated, to step down on June 7 as Conservative leader. The news came as no surprise and in all honesty it looked inevitable. She had lost the support of her party, with a ...
GBP/USD Tests 100-Hour Moving Averagerss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 10:13 GMT

On Thursday, the GBP/USD exchange rate rised to the 55-hour moving average, currently located at 1.2662. During today] The post GBP/USD Tests 100-Hour Moving Average appeared first on Action Forex....
USD/JPY Dropped To Fibo 50.00%rss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 10:11 GMT

Yesterday, the USD/JPY currency pair dropped to the support level formed by the Fibonacci 50.00% retracement at 109.58. During Friday] The post USD/JPY Dropped To Fibo 50.00% appeared first on Action Forex....
XAU/USD likely to end downrss: Technical Analysis • Published Fri, 24 May 2019 09:58 GMT

On Wednesday, the price for gold skyrocketed the resistance level formed by the monthly PP at the 1,287.27 mark. ...
GBP Still Overvalued, Financial Markets Stabiliserss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 09:53 GMT

GBP still overvalued considering coming events European elections results published on Sunday are most likely to cause torments on the marketplace while market holidays in the US and the UK on Monday should have an impact on liquidity. The recent bounce i...
USD/CAD Bullish Momentum Continuesrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 09:46 GMT

The US Dollar appreciated about 58 base points against the Canadian Dollar on Thursday. The currency pair dashed through the 61.80% Fibonacci retracement level during yesterday] The post USD/CAD Bullish Momentum Continues appeared first on Action Forex....
GBP/USD reaches resistance linerss: Technical Analysis • Published Fri, 24 May 2019 09:35 GMT

On Friday morning the GBP/USD touched the upper trend line of the descending channel pattern of the hourly candle chart. The event resulted in a decline, which needed to pass ...
The Dollar Index Has Moved Away From Two-Year Highsrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 09:18 GMT

During yesterday] The post The Dollar Index Has Moved Away From Two-Year Highs appeared first on Action Forex....
EUR/USD reaches targetrss: Technical Analysis • Published Fri, 24 May 2019 09:14 GMT

The EUR/USD has jumped back up to 1.1200 level. The move occurred in a sudden sharp move at the middle of Thursday. However, before the jump the rate reached the ...
AUD/USD breaches channel patternrss: Technical Analysis • Published Fri, 24 May 2019 09:07 GMT

The Australian Dollar appreciated about 40 base points against the US Dollar on Thursday. The currency pair tested a resistance level formed by the 200-hour SMA at 0.6903 during the ...
EUR/USD Outlook: Strong Rebound Extends But Overall Picture Still Bearishrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 09:07 GMT

The Euro extends recovery above 1.1200 barrier on Friday, following previous day] The post EUR/USD Outlook: Strong Rebound Extends But Overall Picture Still Bearish appeared first on Action Forex....
WTI Correctional Move Is Neededrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 08:53 GMT

Due to sanctions on Iran and Venezuela, attacks on Saudi- and UAE-owned oil tankers and US/China trade talks, the WTI had a big drop. The POC zone 60.00-60.80 could be a turning point for the WTI after a possible correction. However, traders should also p...
USD Weakens On Soft Fianancials And Prospects Of A Rate Cutrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 08:52 GMT

Market expectations for a possible rate cut by the FED, until October 2019 increased, weakening the greenback yesterday. The USD retreated after hitting its highest level for two years in the USD Index, signaling its weakness. There was also a loss of mom...
Dollar Retreats As Rate-Cut Bets Grow, Yen Soarsrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 08:49 GMT

Wall Street tumbles, yen soars on growth and trade concerns Dollar pulls back on mounting expectations for Fed easing Sterling catches its breath as May prepares to set departure date Risk sentiment takes a hit as soft PMIs revive growth worries Risk aver...
ETHUSD Inside Neutral Trianglerss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 08:46 GMT

Ethereum has recovered higher in early Friday trade after finding strong technical support from the $220.00 level. The ETHUSD pair is currently trapped within a neutral triangle pattern on the four-hour time frame. A bullish breakout from the triangle pat...
USDJPY Bearish Below 110.00rss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 08:44 GMT

The US dollar is now under heavy selling pressure against the Japanese yen, following much weaker than expected PMI manufacturing data from the United States economy. The USDJPY pair has a bearish intraday bias while trading below the 110.00 level and cou...
US Stocks And Treasuries Tank As Trade War Fears Escalaterss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 08:43 GMT

The price of crude oil experienced its biggest decline of the year in yesterday] The post US Stocks And Treasuries Tank As Trade War Fears Escalate appeared first on Action Forex....
Escalating Trade Tensions Weigh On Investorsrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 08:24 GMT

Global markets continue to weather some erratic turbulence now that the U.S and China have hit each other with increased tariffs and ended their latest round of trade negotiations without a resolution. But the prices of relatively risky assets have mostly...
Oil Price Immune To Trade War What About Goldrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 08:23 GMT

Crude oil is back in green, it is trading higher by 1.19 percent after the price plunged nearly 5.7 yesterday. Clearly, bargain hunters are back in town. However, it is still set to record the worst week of the year (as shown in the chart below) and this ...
GBP/USD Outlook: Bears Take A Breather Ahead Of Mays Announcementrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 08:21 GMT

Cable ticks higher in early Friday] The post GBP/USD Outlook: Bears Take A Breather Ahead Of Mays Announcement appeared first on Action Forex....
Investors As Risk Aversion Intensifies, Oil Collapsesrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 08:19 GMT

Stock markets across the globe have been treated without mercy this week as fears over prolonged US-China trade tensions weighed on market sentiment over global economic growth and stability. The gut-wrenching selloff witnessed this month suggests that ma...
Gold Briefly Gains On Risk off Sentimentrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 08:08 GMT

The precious metal rose 0.77% on the day as the risk-off sentiment in the markets saw investors rushing to safe haven assets. Equity markets fell with the Dow Jones easing 1.6% during trading. Tech stocks fell, dragging the NASDAQ lower as more and more c...
Crude Oil Slips As Inventories Riserss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 08:00 GMT

WTI crude oil prices fell over 5% on the day on Thursday. The declines came after the US Energy Information Administration] The post Crude Oil Slips As Inventories Rise appeared first on Action Forex....
Sterling Holds Declines As PM May Stands On Shaky Groundrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 07:58 GMT

Developments in the UK related to Brexit saw Prime minister May inching closer to a potential resignation. This follows the latest Brexit plans tabled in the Parliament. The new set of Brexit plans raised more criticism. Lawmakers demanded that May clarif...
Fears Of Trade Wars Pushed Markets To Important Levelsrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 07:51 GMT

On Wednesday, the United States announced that they were considering sanctions ] The post Fears Of Trade Wars Pushed Markets To Important Levels appeared first on Action Forex....
Crude Oil Expect 57.35rss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 07:47 GMT

Pivot (invalidation): 58.80 Our preference Short positions below 58.80 with targets at 58.00 & 57.35 in extension. Alternative scenario Above 58.80 look for further upside with 59.45 & 60.30 as targets. Comment Technically the RSI is below its neutrality ...
Silver Spot Intraday Support Around 14.5300rss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 07:46 GMT

Pivot (invalidation): 14.5300 Our preference Long positions above 14.5300 with targets at 14.6400 & 14.7100 in extension. Alternative scenario Below 14.5300 look for further downside with 14.4800 & 14.4000 as targets. Comment The RSI is mixed to bullish. ...
USD/TRY Aim @ 6.1650rss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 07:36 GMT

Pivot (invalidation): 6.0900 Our preference Long positions above 6.0900 with targets at 6.1450 & 6.1650 in extension. Alternative scenario Below 6.0900 look for further downside with 6.0650 & 6.0420 as targets. Comment The RSI lacks downward momentum. The...
EUR/USD Aim @ 1.1215rss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 07:24 GMT

Pivot (invalidation): 1.1160 Our preference Long positions above 1.1160 with targets at 1.1200 & 1.1215 in extension. Alternative scenario Below 1.1160 look for further downside with 1.1145 & 1.1130 as targets. Comment The RSI advocates for further upside...
Burning forecast EURUSD 05/24/2019rss: Technical Analysis • Published Fri, 24 May 2019 07:20 GMT

On Thursday, the EURUSD broke through the long-term lows of 1.1130 and 1.1110. However, it sharply turned up and approached the key level upwards of 1.1190 at the end of the day.On Friday morning, the euro broke through the level of 1.1190.This is a stron...
Indicator analysis. Daily review for May 24, 2019 for currency pairs EUR / USD and GBP / USDrss: Technical Analysis • Published Fri, 24 May 2019 07:20 GMT

On Thursday, the market in both currencies moved in different directions.The GBP / USD pair has gradually shifted to the side channel after a strong trend. The first sign of a pullback. The rollback level of 76.4% - 1.2662 (blue dashed line) was retested....
Overview of GBP/USD on May 24. The forecast for the "Regression Channels". The market is waiting for May to announce todayrss: Technical Analysis • Published Fri, 24 May 2019 07:14 GMT

4-hour timeframe Technical data: The upper linear regression channel: direction down. The lower linear regression channel: direction down. The moving average (20 smoothed) down. CCI: -43.5119 If the euro rose sharply and strongly yesterday against the...
USDCAD Maintains Neutral-To-Bullish Bias Above Cloudrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 07:14 GMT

USDCAD was trading not too far from yesterday] The post USDCAD Maintains Neutral-To-Bullish Bias Above Cloud appeared first on Action Forex....
Overview of EUR/USD on May 24. The forecast for the "Regression Channels". The euro has updated the lows and pulled uprss: Technical Analysis • Published Fri, 24 May 2019 07:14 GMT

4-hour timeframe Technical data: The upper linear regression channel: direction down. The lower linear regression channel: direction down. The moving average (20 smoothed) up. CCI: 266.9045 The American trading session yesterday suddenly made a surpri...
EURUSD: Euro growth limited due to trade war and elections to the European Parliamentrss: Technical Analysis • Published Fri, 24 May 2019 07:14 GMT

Yesterday, US President Donald Trump made several new statements on the trade agreement between the US and China, as well as instilled some confidence in the likelihood of a deal. Trump noted that the achievement of a trade agreement with China is very li...
Bitcoin. Bulls returned to the desired levelsrss: Technical Analysis • Published Fri, 24 May 2019 07:14 GMT

Bitcoin buyers managed to return to the level of 7650 yesterday, which is a good sign for the continuation of the upward trend. As for the further growth of Bitcoin, some experts tied it to the trade conflict between the US and China. In the scenario of f...
USD/JPY Hovers In The 109.50 Arearss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 07:12 GMT

Markets Global core bonds gained ground yesterday with US Treasuries outperforming German Bunds. The ongoing trade dispute between the two largest economies continued to weigh on investor sentiment, diverting money flows into safe havens. Core bonds maint...
EUR/AUD Expects Final Bullish Swing Before Reversalrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 07:10 GMT

The EUR/AUD wave pattern is suggesting that price will most likely make a bearish bounce at the resistance (red) and Fibonacci targets, which would complete a wave C (purple) of wave B (pink). The confirmation of a bearish reversal occurs when price break...
Oil Prices Rise Over 1% In Asia After Sell-Off On Thursdayrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 06:41 GMT

General Trend: US Commerce Dept: Proposing rule to impose countervailing duties on countries that undervalue their currency relative to the US dollar China Commerce Min (MOFCOM): More efforts should be made to stabilize and improve China] The post Oil Pri...
Global Growth Worries Hit Risk Sentimentrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 06:38 GMT

Market movers today After ] The post Global Growth Worries Hit Risk Sentiment appeared first on Action Forex....
Euro-Zones Unexpectedly Declined In Mayrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 06:37 GMT

For the 24 hours to 23:00 GMT, the EUR rose 0.24% against the USD and closed at 1.1183. On the macro front, the Euro-zone] The post Euro-Zones Unexpectedly Declined In May appeared first on Action Forex....
Japans National Consumer Price Index Advanced As Estimated In Aprilrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 06:35 GMT

For the 24 hours to 23:00 GMT, the USD declined 0.68% against the JPY and closed at 109.54. In economic news, Japan] The post Japans National Consumer Price Index Advanced As Estimated In April appeared first on Action Forex....
Gold: Yellow Metal Extends Gains In The Asian Sessionrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 06:22 GMT

For the 24 hours to 23:00 GMT, Gold rose 1.17% against the USD and closed at USD1288.50 per ounce, amid weakness in the greenback. In the Asian session, at GMT0300, the pair is trading at 1288.60, with gold trading marginally higher against the USD from y...
EUR/JPY And GBP/JPY: Downtrend Remains Intactrss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 05:57 GMT

The Euro and British Pound started a strong decline against the Japanese Yen. EUR/JPY is facing resistance near 122.65 and GBP/JPY could struggle to clear 139.20. Important Takeaways for EUR/JPY and GBP/JPY The Euro started a sharp decline below the 123.2...
Market Morning Briefing: Dollar Index Fell Sharply From 98.37 Yesterday To Test 97.85rss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 05:54 GMT

STOCKS Fear of the US-China trade war getting worse has increased after China stating that the talks cannot continue unless the US addresses its ] The post Market Morning Briefing: Dollar Index Fell Sharply From 98.37 Yesterday To Test 97.85 appeared firs...
Asia FX Handover: Big 4 Bank Forecasts 3x RBA Cuts In 2019rss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 05:51 GMT

It felt the calm after the storm following events from the European and US session, with minor ranges overall as markets digested weaker global data. AUD is the weakest major after Westpac Bank upped their dovish forecasts for 3x RBA cuts in 2019. Preside...
Trading plan for EURUSD for May 24, 2019rss: Technical Analysis • Published Fri, 24 May 2019 05:50 GMT

Technical outlook:The EUR/USD pair just made a marginal low yesterday at 1.1107 levels before pulling back almost 100 pips. Those aggressive traders who managed to stay on the long side must exit taking profits now, while those got stopped out must stay f...
Technical analysis of Ethereum for 24.05.2019rss: Technical Analysis • Published Fri, 24 May 2019 05:44 GMT

Crypto Industry News:The Japanese Financial Services Agency (FSA) is reportedly cracking down on cryptographic exchanges that offer anonymous transactions or have weak identity verification practices in preparation for inspection by the Money Laundering S...
Technical analysis of Bitcoin for 24.05.2019rss: Technical Analysis • Published Fri, 24 May 2019 05:38 GMT

Crypto Industry News:Fraudsters have added fake cryptocurrency wallets to the Google Play store, trying to make money from the rising prices of Bitcoins, say researchers from ESET, which provides antivirus solutions.One malicious application mimicked the ...
Technical analysis of GBP/USD for 24.05.2019rss: Technical Analysis • Published Fri, 24 May 2019 05:12 GMT

Technical Market Overview:On the GBP/USD market the downtrend is continued and the bears have pushed the price below the level os 1.2614. The bounce was very shallow and the price did not break the technical resistance at the level of 1.2683. It means the...
Forecast for AUD/USD on May 24, 2019rss: Technical Analysis • Published Fri, 24 May 2019 05:11 GMT

AUD/USDOn Thursday, the Australian dollar rose by 17 points after the US dollar weakened, but finding the resistance of the MACD line on the four-hour chart turned down this morning. On H4, a convergence with the Marlin oscillator was formed, but the stru...
Technical analysis of EUR/USD for 24.05.2019rss: Technical Analysis • Published Fri, 24 May 2019 05:08 GMT

Technical Market Overview:The EUR/USD market bounced significantly after the bulls were defending the technical support located between the levels of 1.1111 - 1.1118. The up candle has broken through the technical resistance located between the levels of ...
Elliott wave analysis of GBP/JPY for May 24, 2019rss: Technical Analysis • Published Fri, 24 May 2019 04:45 GMT

GBP/JPY continues to move closer to the 61.8% corrective target at 137.53 which is expected to make a low for the wave 2 and set the stage for the next impulsive rally in the wave 3 to above the peak of March 14 at 148.87. At this point, a direct breakout...
Elliott wave analysis of EUR/JPY for May 24, 2019rss: Technical Analysis • Published Fri, 24 May 2019 04:39 GMT

EUR/JPY has failed to hold above minor support at 122.65 which is disappointing and opens the way for the continued downward movement to the 70.7% corrective target at 121.37 before the wave ii is completed. That said, we also have to be aware that all re...
Forecast for GBP/USD on May 24, 2019rss: Technical Analysis • Published Fri, 24 May 2019 04:35 GMT

GBP/USD On Thursday, the British pound pushed the support of the first target level of 1.2660, but could not gain a foothold below it due to the sharp weakening of the US dollar throughout the market. The intention of the United States to impose sanctions...
USD/JPY Could Decline Further Below 109.50rss: Action Forex • Technical Analysis • Published Fri, 24 May 2019 03:14 GMT

Key Highlights The US Dollar failed to break 110.65 and declined recently against the Japanese Yen. A crucial bearish trend line is active with resistance at 110.50 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending May 18,...
A Bonfire Of Vanitiesrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 03:06 GMT

A bonfire of vanities It] The post A Bonfire Of Vanities appeared first on Action Forex....
DXY Isn NZD Eyes A Corrective bouncerss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 02:43 GMT

To summarise market moves: US10Y fell to its lowest level since October 2017 JPY and CHF dominated the FX space, as you] The post DXY Isnt Ready For A Breakout (Yet) | NZD Eyes A Corrective bounce appeared first on Action Forex....
RBA to Cut the Cash Rate to 0.75% by November AUD to USD0.66 by End 2019rss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 02:42 GMT

Our forecasts are consistent with the need for policy to ease through the full course of 2019, not to go on hold as early as August. Earlier this week Westpac moved forward its forecast for RBA cash rate cuts from the original forecast on February 21 of c...
Fractal analysis of major currency pairs for May 24rss: Technical Analysis • Published Fri, 24 May 2019 02:08 GMT

Forecast for May 24:Analytical review of H1-scale currency pairs:For the euro / dollar pair, the key levels on the H1 scale are: 1.1269, 1.1248, 1.1217, 1.1206, 1.1191, 1.1167, 1.1154 and 1.1136. Here, the price forms the potential initial conditions for ...
GBP / USD h4. Options for the development of the movement from May 24, 2019 Analysis of APLs & ZUPrss: Technical Analysis • Published Fri, 24 May 2019 02:07 GMT

Minuette (h4)Great Britain Pound vs US Dollar ____________________ From May 24, 2019, the movement of the currency GBP/USD with a sufficient degree of probability, will continue in the equilibrium zone (1.2630 1.2710 1.2795) Minuette operational scale f...
EUR / USD h4. Options for the development of the movement from May 24, 2019 Analysis of APLs & ZUPrss: Technical Analysis • Published Fri, 24 May 2019 02:07 GMT

Minuette (h4)Euro vs US Dollar ____________________ The development of the movement of the single European currency EUR / USD from May 24, 2019 will be determined by the direction of the range breakdown : -> resistance level of 1.1160 (lower boundary of t...
USD/CAD Canadian Dollar Falls With Lower Oil And US-China Trade Anxietyrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 01:48 GMT

The Canadian dollar lost 0.25 percent on Thursday. The loonie was under pressure as oil was down and it forced the currency to miss the other majors gaining on the US dollar. The greenback is on the back foot as soft economic data is increasing the probab...
Stocks: S&P 500 Drops To Key Levelrss: Action Forex • Fundamental Analysis • Published Fri, 24 May 2019 01:43 GMT

We have seen some sharp moves in the markets today, with equities, bonds and oil prices all taking a nose dive, while gold, yen and franc have found support as investors sought safety. The EUR/USD briefly dipped below 1.1110 and therefore hit a new low fo...
EUR/USD. May 23rd. Results of the day. Eurozone business activity indexes expectedly failedrss: Technical Analysis • Published Thu, 23 May 2019 22:16 GMT

4-hour timeframe The amplitude of the last 5 days (high-low): 58p - 29p - 24p - 46p - 31p. Average amplitude for the last 5 days: 38p (41p). On the penultimate trading day of the week, the euro/dollar pair resumed to decline and has already completed the...
Bitcoin analysis for May, 23.2019rss: Technical Analysis • Published Thu, 23 May 2019 17:45 GMT

BTC price has has been trading downside as we expected. BTC tested and rejection of the $7.417. Anyway, we still expecting more downside on the BTC.Red horizontal line - horizontal supportRed Horizontal line 2 horizontal supportRed rectangle Resistance ...
GBP/USD analysis for May, 23.05.2019rss: Technical Analysis • Published Thu, 23 May 2019 17:36 GMT

GBP/USD price has has been trading upside as we expected. The GBP tested the level of 1.2670. We are still expecting more upside on the GBP.Red horizontal line - horizontal resistanceWhite line- Bullish divergence lineThe bullish divergence on the H4 time...
Bullish reversal candlestick pattern in the 4 hour chart of EURUSDrss: Technical Analysis • Published Thu, 23 May 2019 17:27 GMT

EURUSD has been trading weak all morning breaking below 1.1150 support and reaching 1.11 as expected. In previous posts continued to note that trend remains bearish as long as price is below 1.1230-1.1260 but there were significant bullish divergence sign...
Analysis of Gold for May, 23.2019rss: Technical Analysis • Published Thu, 23 May 2019 17:24 GMT

Gold price has has been trading upside as we expected. The Gold tested the level of $1.287. We are still expecting more upside on the Gold.Yellow rectangle - horizontal resistanceOrange rectangle- horizontal resistance 2Gold has been trading upside and ou...
Technical analysis for Gold for May 23, 2019rss: Technical Analysis • Published Thu, 23 May 2019 17:20 GMT

Gold price was breaking below important support of $1,276 and was about to test $1,266 low. Price reversed and we are now looking at another try from bulls to change the trend. Resistance is still formidable at $1,300-$1,290 area so bears are still alive....
May 23, 2019 : EUR/USD Intraday technical analysis and trade recommendations.rss: Technical Analysis • Published Thu, 23 May 2019 15:46 GMT

On January 10th, the market initiated the depicted bearish channel around 1.1570.Since then, the EURUSD pair has been moving within the depicted channel with slight bearish tendency.Few weeks ago, a bullish Head and Shoulders reversal pattern was demonstr...
US Durable Orders Eyed as Dollar Remains rss: Action Forex • Fundamental Analysis • Published Thu, 23 May 2019 14:56 GMT

The next highlight for the dollar will be the release of US durable goods orders for April, on Friday at 12:30 GMT. Forecasts point to a soft set of data, possibly due to weakness in demand for commercial aircraft. While a disappointment may hurt the doll...