We’re seeing major support at 131.73 (Multiple 100% Fibonacci extensions, 61,8% Fibonacci extension, horizontal swing low support) and a possible bounce could occur at this level. Our next major level of resistance is 132.73 (Fibonacci retracement, horizontal swing high resistance) and our next major level of support is at 131.16 (Major swing low...
The dollar index is bouncing strongly above major support at 93.39 (Multiple Fibonacci retracement, Fibonacci extension, Horizontal overlap support, bullish price action). The next major level of resistance is at 94.28 (61.8% Fibonacci extension, 100% Fibonacci Extension, Horizontal overlap resistance). The next major level of support is at 92.26 (Fibonacci...
Silver is seeing major resistance at 16.313 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this level. The next major level of resistance is at 16.639 (Long term 38.2% retracement, horizontal pullback resistance) and the next major level of support is at 15.62 (Fibonacci...
Gold is seeing major resistance from the 1261 to 1265 area (23.6% Fibonacci retracement, 38.2% Fibonacci retracement, 61.8% Fibonacci extension, Horizontal pullback resistance) and seems set up for a strong reaction. The next major resistance would be at 1272 (Fibonacci retracement, Horizontal breakout level) and the next major support would be at 1237 ...
BTCUSD is seeing major resistance at 17347 (Multiple swing high resistance, Short term Fibonacci extension, Long term Fibonacci extension) and a strong reaction could occur at this level with the next major support being at 15975 (Fibonacci retracement, horizontal overlap support, price action rejection.
We can see NZDUSD approaching a major area of resistance from 0.7040 to 0.7080 (Multiple Fibonacci retracements, Fibonacci extension, horizontal overlap resistance). A possible reaction could occur from here with the next major level of support at 0.6823 (Fibonacci extension, horizontal swing low support). Our next level of major resistance is at 0.7214 ...
We're seeing a nice head and shoulders reversal setup with the major level of support at 15975 (Fibonacci retracement, horizontal overlap support). Upon the break of this level it would suggest a head and shoulders reversal pattern is completed. The next major level of support would be 14605 (Fibonacci retracement, horizontal overlap support).
The crypto currency boom opened a new chapter on Monday with the start of trading bitcoin futures on the CBOE Chicago Stock Exchange. The price for a contract with the delivery in January started from $15.460, but soon it soared to almost $ 19,000. The volume of contracts almost reached 3000 at the time of writing the article.
The pricing of futures proved to be...
US Dollar
Greenback gradually turns into an offensive although a buildup of longs on US currency looks quite cautious showed a pullback during the Asian session. Futures for the dollar index are planning a march to the level of 93.50 thanks to the efforts of Republicans to pass the fiscal bill and slightly biased in the positive side US data. Macro figures shows...
The greenback yet can’t go for a far swim, remaining near 93.00 mark for the second consecutive day. Senate Republicans approved the tax reform plan on Saturday, increasing likelihood of passing the bill, but aligning it with the Lower Chamber may not be easy, since the main discussion will unfold in determining the final burden on the budget, through which the...
Greenback
US Dollar reinforced position on Monday against major peers as Republicans in Senate released their version of the tax reform, which now will need to be discussed with the House of Representatives.The vote in the Senate on Saturday had a positive outcome for the Trump fiscal initiative, which provides sharp tax cuts for firms from 35% to 20%, as well as...
Fiscal Reform in the US
The Republicans failed to agree on Thursday so they postponed voting on the bill on Friday. Because of the minimal edge, the vote of every Republican is important for success of the reform, that’s why senators have to seek for a tradeoff with the "fiscal hawks", who see an acute problem in expansion of the budget deficit as a result of the...
British pound
British pound jumped by almost a percentage point against the buck and showed less confident superiority over the European currency amid progress on the "divorce deal" with European Union. UK is on the verge of settling disputes with the EU, where the amount of "forfeit" will be 44-55 billion euros. After that, both sides will be able to start...
European stock markets followed their Asian counterparts on Monday as the US economy returns in sight, in particular the fate of the tax reform.
Gold is rising against the backdrop of increased risks before the resumption of discussion of the tax reform in the Senate. The asset has risen in price by 0.5% to $ 1.293 and looks determined to reach another round...
All the major gloom on US currency has been priced by market participants this week, pulling back the index to 93.00 before the announcement of tax-cut package details. Thinner volume across the Pond, as well as elevated market concerns revealed the market majority preferred to cut wagers on US currency before fiscal stimulus news come out next week. And this was...
Notices of doubt
EURUSD is stumbling on the spot today, swaying around the range of 1.17-1.18, the market did not allow to spread pessimism associated with the political problems in Germany, as well as optimism associated with the tax reform. The US is preparing to celebrate Thanksgiving, in this regard, the senators have postponed the discussion of large-scale...
Political instability in Germany is assuming increasingly threatening forms, as the current Chancellor Angela Merkel was forced to agree on early elections, rather than form a government in the minority.
Distrust of Merkel began to grow rapidly after the decision to open borders for more than 1 million migrants. In the September elections, a high percentage of...
Losing the grip
Bearish sentiments are rising on European currency due to political uncertainty in the eurozone, as Angela Merkel's position has deteriorated significantly after the failure to form a coalition between the four political parties. EURJPY sank to a two-month low during the Asian session, but restored losses during the London trading, as the economic...
