InvestMacro

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6925; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the upside border of the cloud at 0.6940 and then resume moving downwards to reach 0.6785. Another signal to confirm further descending movement is the price’s rebounding from the channel’s upside border. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6970. In this case, the pair may continue growing towards 0.7065. After breaking the cloud’s downside border and fixing below 0.6865, the price may continue moving downwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6544; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the upside border of the cloud at 0.6560 and then resume moving downwards to reach 0.6415. Another signal to confirm further descending movement is the price’s rebounding from the channel’s upside border. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6585. In this case, the pair may continue growing towards 0.6685. After breaking the cloud’s downside border and fixing below 0.6470, the price may continue moving downwards.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3435; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the downside border of the cloud at 1.3445 and then resume moving downwards to reach 1.3365. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.3475. In this case, the pair may continue growing towards 1.3545.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.12090
• Open: 1.11912
• % chg. over the last day: -0.12
• Day’s range: 1.11784 – 1.11914
• 52 wk range: 1.1111 – 1.2009

EUR/USD has an ambiguous technical picture. The trading instrument is moving sideways. The local support and resistance levels are 1.11800 and 1.12000. The results of the EU elections brought the pro-EU parties two thirds of the seats. The quotes can recover further, you should open positions from the key levels.

At 17:00 (GMT+3:00) the US will release a customer trust index.

The indicators do not provide precise signals: the price fixed between 50 MA and 200 MA.

The MACD histogram is in the negative zone and below the signal line which gives a strong signal to sell EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which points to the bullish mood.

Trading recommendations

• Support levels: 1.11800, 1.11500, 1.11300
• Resistance levels: 1.12000, 1.12200, 1.12400

If the price fixes above the round 1.12000, expect further growth towards 1.12200-1.12400.

Alternatively, the quotes can fall towards 1.11600-1.11400.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.27261
• Open: 1.26767
• % chg. over the last day: -0.33
• Day’s range: 1.26636 – 1.27020
• 52 wk range: 1.2438 – 1.3631

GBP/USD is consolidating. The technical picture is ambiguous. The key support and resistance levels are 1.26500 and 1.27000 respectively. The investors are waiting for additional drivers. The quotes can descend due to the Brexit ambiguousness. Keep an eye on the US news feed and open positions from the key levels.

The Economic News Feed for 28.05.2019 is calm.

The indicators do not provide precise signals, the price has crossed 50 MA.

The MACD histogram is in the negative zone but above the signal line which provides a strong signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points towards the bearish mood.

Trading recommendations

• Support levels: 1.26500, 1.26000
• Resistance levels: 1.27000, 1.27450, 1.28000

If the price fixes below 1.26500, expect the quotes to descend towards 1.26200-1.26000.

Alternatively, the quotes may correct towards 1.27400-1.27600.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.34358
• Open: 1.34411
• % chg. over the last day: +0.03
• Day’s range: 1.34355 – 1.34485
• 52 wk range: 1.2727 – 1.3664

USD/CAD remains ambiguous. The CAD keeps consolidating. The key support and resistance levels are 1.34250 and 1.34500. The trading instrument has a tendency to descend. Keep an eye on the oil quotes and open positions from the key levels.

The Economic News Feed for 28.05.2019 is calm.

The indicators do not provide precise signals, the price has crossed 50 MA and 200 MA.

The MACD histogram is in the negative zone but above the signal line which provides a strong signal to sell USD/CAD.

The Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals.

Trading recommendations

• Support levels: 1.34250, 1.34000, 1.33650
• Resistance levels: 1.34500, 1.34700, 1.34900

If the price descends below 1.34250, expect further descend towards 1.34000-1.33700.

Alternatively, the quotes can grow towards 1.34700-1.35000.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 109.285
• Open: 109.490
• % chg. over the last day: +0.10
• Day’s range: 109.342 – 109.629
• 52 wk range: 104.97 – 114.56

USD/JPY keeps consolidating. There is no defined trend. The key support and resistance levels are 109.400 and 109.700. The demand for the safe assets remain relatively high. The quotes have a tendency to descend. Keep an eye on the US Treasury bonds` yield and open positions from the key levels.

The Economic News Feed for 28.05.2019 is calm.

The indicators do not provide signals, the price has crossed 50 MA.

The MACD histogram is close to 0.

The Stochastic Oscillator is in the neutral zone, the %K line has crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 109.400, 109.150, 109.000
• Resistance levels: 109.700, 110.000, 110.350

If the price fixes below 109.400, expect further descend towards the round 109.000.

Alternatively, the quotes can grow towards 109.000-110.200.

by JustForex

by JustForex

The US dollar is moving in different directions against the basket of major currencies. The US currency is still under pressure due to investors’ concern over the escalation of the trade and technological conflict between the US and China. The greenback also weakened slightly against the Japanese yen since US President Donald Trump is putting pressure on Japan to reduce its positive trade balance with the United States. At the moment, financial market participants expect additional drivers. The dollar index (#DX) has the potential for further correction.

The euro is stable after the Pro-EU parties took two-thirds of the seats in the elections to the European Parliament. The election results disappointed anti-immigration and anti-European politicians, led by Marine Le Pen and Italian Deputy Prime Minister Matteo Salvini, who oppose the close integration of EU countries. The euro is tending to recover after a continuous decline.

UK Foreign Secretary Jeremy Hunt said no-deal Brexit would be “political suicide.” He also added that he would require more time to conclude a new agreement on Brexit if he replaced Prime Minister Theresa May.

The “black gold” prices have been growing after the collapse last week. At the moment, futures for the WTI crude oil are testing the mark of $59.00 per barrel.

Market Indicators

Yesterday, the US financial marketplaces were closed due to the holiday.

The 10-year US government bonds yield is declining. Currently, the indicator is at the level of 2.29-2.30%.

– CB consumer confidence index in the US at 17:00 (GMT+3:00).

by JustForex

By TheTechnicalTraders.com

The US Memorial Day weekend is set up to become a very interesting time for investors.  The EU voting is complete and the change in EU leadership may move the markets a bit.  China appears to be playing a waiting game – attempting to hold the US/Trump at bay until after the 2020 US elections.  This week is certain to be very interesting for traders/investors.

The European stocks moved higher in trading on Monday as the relief from the EU election event and support for auto shares pushed the markets higher. The transition in the EU over the next few months will solidify into a political and social agenda.  The EU leadership must acknowledge these future objectives of all parties in order to maintain some level of calm.  It is evident that many EU nations are relatively satisfied with the current leadership while others are transitioning into more centrist leadership.  The next 4+ years will be full of further transition in the EU.

China is another global issue that is relatively unsettled.  We’ve been doing some research with regards to China and the potential future political and economic pathways that may become evident in the near-term future.  Our biggest concern is that China has been inflating their economic levels for decades and the true scope of the Chinese economy may be much weaker than everyone expects.  If our suspicions are correct and China has been inflating economic levels for many years, then the transition to a consumer/services-driven economy may be dramatically over-inflated and the US/China trade issues could be biting much harder than the Chinese want to admit.

The “Sell in May and go away” market saying may become absolute truth in 2019.  Our expectations are still suggesting that an attempt at new market highs may take place before August 2019, but the current market rotation (lower) is setting up a very strong potential for further downside price action at the moment.  Our proprietary Fibonacci price modeling system is suggesting the $7294 level in the NQ is key support.  Below this level, the NQ could break much lower and potentially target $6850 or lower.

The YM is setting up a similar price pattern with resistance near 25,840.  We believe this resistance will push prices lower as we move further into early June.  The potential for some type of surprise economic data or Fed/Global market move after this weekend is somewhat higher than expected.  There is a lot of shifting taking place throughout the globe and we believe this turbulence will reflect in the US market soon enough.

As of right now, our expectations are that a brief upside price rally will take place over the next 4~7+ days before a continued downside price trend may become evident.  Pay attention to the news cycles for key elements that could drive the US stock market lower.  We will continue to update you with regards to our proprietary research and expectations.  The next 7+ days will likely be nothing but sideways price rotation within a Pennant/Flag formation.

Read our research to understand how this setup coincides with the GOLD price setup and why it is important to understand why July 2019 is so important.  Please take a minute to review these recent research posts that focus more on the US Dollar and Gold, and also the July turning point for US Stocks.

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We continue to see money flow into the safe-haven assets like the Utility sector, bonds, and most importantly precious metals. I anticipated this and our XLU utilities ETF taken with members for 4.4% already, and our VIX ETF trade we closed for a 25% last week.

For May I am going to give away and ship out silver rounds to anyone who buys a 1-year, or 2-year subscription to my Wealth Trading Newsletter. You can upgrade to this longer-term subscription or if you are new, join one of these two plans listed below, and you will receive:

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Chris Vermeulen – TheTechnicalTraders.com

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

Last week, oil prices lost the most significant amount since the beginning of the year. Brent was trading close to the low at 67.02 due to investors’ concerns for slowdown in the global economy. Additional pressure was put by the US reports on the commercial gold stocks. According to the report, the indicator has reached the highest level since summer 2017.

Another disincentive for the oil market is the current trade wars between the USA and China. The stronger the conflict, the worse for the oil market, which is very sensitive to the demand.

Latest statistics indicate that the oil refining margin in Asia has dropped to the lowest levels over the last decade. It means that the refining output is falling as well. When the refining output reduces, the purchased oil amount is also decreasing. It’s a very bad signal for the oil market.

At the beginning of this week, hardly there will be any new catalysts for the commodity market, but later the instrument may become more active.

As we can see in the H4 chart, after breaking 70.30 downwards, Brent has reached the short-term downside target at 67.30. In fact, the pair is forming the third descending wave, which should be considered as a correction. The first rising impulse and the correction are already complete. Possibly, today the pair may break 69.13 upwards to reach the next target at 70.25. After that, the instrument may fall towards 69.15 and then form one more ascending structure to reach 70.50. Later, the market may start another decline towards 66.90 to finish the third descending wave and then resume trading upwards to return to 70.50.

This scenario is confirmed by Stochastic Oscillator as its signal line is moving to the downside to enter the “oversold zone”.

From the technical point of view, this scenario is also confirmed by MACD Oscillator as its signal line is moving upwards. After breaking 0, the market may start moving faster until the correction is over. In the future, the instrument may resume trading inside the downtrend to complete the third wave.

Disclaimer

Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating around 1.1200; right now, it is trading upwards. Possibly, the pair may expand the range towards 1.1226 and then start a new correctional structure to reach 1.1231. After that, the instrument may continue falling towards 1.1200 and then form one more ascending structure with the target at 1.1236.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating; right now, it is trading upwards to reach 1.2761 and may later fall towards 1.2685. If later the price breaks this range to the upside, the instrument may continue the correction towards 1.2850; if to the downside – resume trading inside the downtrend with the target at 1.2550.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around the lows. Possibly, today the pair may start another growth to reach 1.0032 and then form a new descending structure towards 1.0023. If later the price breaks this range to the upside, the instrument may resume trading inside the uptrend with the target at 1.0068.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 109.57. If later the price breaks this range to the upside, the instrument may form one more ascending structure to reach 110.03; if to the downside – resume trading inside the downtrend with the short-term target at 108.70.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken 0.6900 and may form one more ascending structure towards 0.6940. Today, the pair may reach 0.6933 and then continue falling to return to 0.6900. After that, the instrument may start another growth with the first target at 0.6940.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has broken 64.56; right now, it is forming another descending wave towards 63.94. Today, the pair may return to 64.56 from below and then resume trading inside the downtrend with the short-term target at 64.22.

XAUUSD, “Gold vs US Dollar”

Gold has formed another consolidation range around 1284.40 and broken it upwards. Possibly, the pair may expand this consolidation range towards 1288.00 and then fall to reach 1280.44. If later the price breaks this range to the downside, the instrument may form a new descending structure towards 1274.50; if to the upside – extend the wave up to 1290.40.

BRENT

Brent has completed the first ascending impulse along with the correction; right now, it is trying to break 69.13 upwards. Possibly, the pair may start another growth with the short-term target at 70.90. Later, the market may form a new descending structure to return to 69.12 and then resume trading upwards with the first target at 71.27.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the previous wave to the downside has tested the long-term retracement of 50.0% again and rebounded from it. In this case, XAUUSD may start a new mid-term correctional uptrend or a short-term one towards the retracements of 50.0% and 61.8% at 1306.55 and 1315.81 respectively. After breaking the low at 1266.23, the instrument may continue falling towards the mid-term retracement of 61.8% at 1253.95.

In the H1 chart, the convergence made the pair start a new rising correction, which has already reached the retracement of 50.0%. The next upside targets are the retracements of 61.8% and 76.0% at 1290.50 and 1295.20 respectively. The key support level is the low at 1269.52.

USDCHF, “US Dollar vs Swiss Franc”

In case of the USDCHF, the big picture may indicate both the completion of the mid-term correction and the start of a new long-term decline. As we can see in the H4 chart, the pair both reached the mid-term retracement of 61.8% and got closer to the long-term retracement of 23.6% at 0.9988. In the future, the price may yet fall towards the retracement of 76.0% at 0.9976. At the same time, there is a convergence on MACD, which may indicate a possible short-term pullback. The local resistance level is the retracement of 38.2% at 1.0106.

In the H1 chart, the convergence made the pair start a new short-term rising correction. The upside targets may be the retracements of 23.6%, 38.2%, and 50.0% at 1.0035, 1.051, and 1.0064 respectively. The local support is the low at 1.0008.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.11812
• Open: 1.12090
• % chg. over the last day: +0.21
• Day’s range: 1.11985 – 1.12151
• 52 wk range: 1.1111 – 1.2009

EUR has retreated from the annual minimums. The investors have partially fixed the USD positions after the long rally. The escalation of the trade war has increased the chances of FRS decreasing the key interest rates this year. By preliminary reports, the pro-EU parties are leading in the election, which gives additional support to the EUR. The key levels are 1.11800 and 1.12150. The EUR/USD quotes have prospects for further recovery. Open positions from the key levels.

The Economic News Feed for 27.05.2019 is calm.

The price fixed above 50 MA and 200 MA which points towards the power of the buyers.

The MACD histogram is in the positive zone but below the signal line which gives a weak signal to buy EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points towards the bearish mood.

Trading recommendations

• Support levels: 1.11800, 1.11500, 1.11300
• Resistance levels: 1.12150, 1.12400, 1.12600

If the price fixes above 1.12150, expect further correction towards 1.12400-1.12600.

Alternatively, the quotes can fall towards 1.11600-1.11400.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.26525
• Open: 1.27261
• % chg. over the last day: +0.45
• Day’s range: 1.27145 – 1.27478
• 52 wk range: 1.2438 – 1.3631

GBP/USD started to recover after a long fall. The trading instrument updated the local maximums. On Friday the GBP was supported by the positive retail sales report. As a reminder Theresa May confirmed that she is retiring on June 7th after three years of attempts to leave the EU. GBP/USD quotes are consolidating around 1.27000-1.27750. GBP has prospects for further correction. You should open positions from the key levels.

The Economic News Feed for 27.05.2019 is calm. The markets are closed due to the holidays.

The indicators do not provide precise signals, the price has crossed 200 MA.

The MACD histogram is in the positive zone and keeps rising, which points towards further growth of GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.27000, 1.26500, 1.26000
• Resistance levels: 1.27550, 1.28000

If the price fixes above 1.27550, expect further growth towards the round 1.28000.

Alternatively, the quotes can fall towards 1.26600-1.26400.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.34721
• Open: 1.34358
• % chg. over the last day: -0.27
• Day’s range: 1.34295 – 1.34466
• 52 wk range: 1.2727 – 1.3664

USD/CAD shows an ambiguous technical picture. CAD is consolidating. The local support and resistance are 1.34200 and 1.34500. The demand for the USD is weakened. The quotes have a tendency to descend. Keep an eye on the oil quotes dynamics and open positions from the key levels.

The Economic News Feed for 27.05.2019 is calm.

The indicators do not provide precise signals, the price has crossed 200 MA.

The MACD histogram is in the negative zone but above the signal line which gives a weak signal to sell USD/CAD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which also points to the bearish mood.

Trading recommendations

• Support levels: 1.34200, 1.34000, 1.33650
• Resistance levels: 1.34500, 1.34700, 1.34900

If the price fixes below 1.34200, expect further descend towards the round 1.34000-1.33700.

Alternatively, the quotes can grow towards 1.34700-1.35000.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 109.594
• Open: 109.285
• % chg. over the last day: -0.27
• Day’s range: 109.279 – 109.584
• 52 wk range: 104.97 – 114.56

USD/JPY stabilized after a long descend at the end of the week. The trading instrument is consolidating. The local support and resistance are 109.400 and 109.700. The demand for the safe assets remains due to the escalation of the trade war and Brexit ambiguousness. USD/JPY quotes have a tendency to descend further. Open positions from the key levels.

The Economic News Feed for 27.05.2019 is calm.

• – Economic Event (JPY) – 00:00 (GMT+3:00);
• – Economic Event (JPY) – 00:00 (GMT+3:00);
• – Economic Event (JPY) – 00:00 (GMT+3:00);

The price fixed below 50 MA and 200 MA which points towards the power of the buyers.

The MACD histogram is in the negative zone but above the signal line which gives a weak signal to sell USD/JPY.

The Stochastic Oscillator is close to the oversold zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 109.400, 109.150, 109.000
• Resistance levels: 109.700, 110.000, 110.350

If the price fixes below 109.400, expect further descend towards the round 109.000.

Alternatively, the quotes can grow towards 110.000-110.300.

by JustForex

by JustForex

Last week, the greenback weakened against a basket of world currencies. The dollar index (#DX) moved away from two-year highs and closed in the red zone. The escalation of the trade war raised the expectations for the Fed to cut interest rates this year. The US Department of Commerce plans to review additional sanctions against the countries that intend to devalue their national currencies against the dollar.

British Prime Minister Theresa May confirmed that she would resign on June 7, after three years of attempts to prepare the country for the Brexit. Financial market participants continue to monitor elections to the European Parliament. The press service of the European Parliament noted a record election turnout over the past 20 years. According to preliminary data, pro-European parties are leading in the elections, which supports the euro. The Central Bank of China said it did not expect a persistent decline in the yuan, and warned speculative sellers that they would suffer “heavy losses” if they bet against the currency.

The “black gold” prices have become stable after a significant drop last week. At the moment, futures for the WTI crude oil are testing the mark of $58.40 per barrel.

Market Indicators

On Friday, the major US stock indices showed mixed results: #SPY (+0.23%), #DIA (+ 0.53%), #QQQ (-0.05%).

The 10-year US government bonds yield has moved away from local lows. Currently, the indicator is at the level of 2.32-2.33%.

Today the publication of important economic releases is not planned. US and UK financial markets are closed due to holidays.

by JustForex