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21 сентября, 14:58

Copper Wave Analysis – 21 September , 2018

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• Copper broke resistance zone • Further gains are likely Copper continues to rise after the earlier breakout of the resistance zone lying between the resistance level 272.00, 50-day moving average and the 50% Fibonacci correction of the previous sharp downward impulse 5 from July. The breakout of this resistance zone accelerated the active short-term impulse wave 3, which belongs to the medium-term impulse wave (3) from the start of September. Copper is expected to rise further and retest the next resistance level 285.00 (top of the previous minor correction 4 from the end of July).

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21 сентября, 14:57

CHFJPY Wave Analysis – 21 September , 2018

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• CHFJPY broke key resistance level 117.00 • Further gains are likely CHFJPY continues to rise after the earlier breakout of the key resistance level 117.00 – which accelerated the active short-term impulse wave 3 from the start of September. The active impulse wave 3 is a part of the medium-term impulse wave (3) from the start of August – which , in turn, belongs to the long-term upward impulse sequence ③ from the start of May. CHFJPY is expected to rise further and retest the next long-term resistance level 118.50 (top of the previous medium-term correction (B) from the start of February).

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20 сентября, 16:17

NZDJPY Wave Analysis – 20 September , 2018

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• NZDJPY broke daily down channel • Further gains are likely NZDJPY continues to rise after the earlier breakout of the resistance trendline of the daily down channel from June (which encloses the most of the active medium-term impulse sequence (C)). The breakout of this down channel should accelerate the active short-term corrective wave 4 – which started earlier form the powerful support level 72.20. NZDJPY is expected to rise further and retest the next resistance level 75.00 (top of the previous minor correction (b) from the end of August).

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20 сентября, 16:16

Palladium Wave Analysis – 20 September , 2018

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• Palladium rising sharply • Further gains are likely Palladium has been rising sharply in the last few trading sessions following the earlier breakout of the round resistance level 1000.00 (which was mentioned in our earlier forecast for this instrument). The breakout the resistance level 1000.00 accelerated the active short-term impulse wave 5 – which then broke through the next strong resistance level 1020.00. With the rising daily Momentum – Palladium is expected to rise further and retest the next strong resistance levels 1050.00 and 1060.00.

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20 сентября, 16:16

Midday EURUSD roundup

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The dollar index has fallen this afternoon to 93.50, to the lowest levels in more than three months. EURUSD is at 1.1760. Growth has accelerated after taking an important resistance area around 1.1700. Bullish: British Pound growth by more than 1% close to 1.3300 on commentaries about the progress in negotiations between the EU and the UK leaders on Brexit. The dollar is on the decline across the market, due to a restoring of the demand for risk assets. Bearish: U.S. Initial Jobless Claims are at lows since 1969, and Continued Claims – since 1973. On small timeframes EURUSD is vulnerable to (at least) short-term correction after a big move up. Next focus on: U.S. Existing Home Sales in August at 14:00 GMT. Commentaries from Austria about Brexit deal progress.

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20 сентября, 10:33

Cautious mood has returned to the stocks, Asia has turned to decline

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American markets ended trading on Wednesday with a slight increase. Asian bourses also experienced growth at the opening, but it was quickly replaced by increased pressure. As a result, at the time of writing Nikkei225 loses 0.6%, Heng Seng has fallen by 0.8%. Futures for S&P500 have lost 0.1% on Thursday morning, being near 2910 level, away from the intraday highs on 2913. From the technical analysis perspective, the U.S. markets experience difficulties with growth on the approach to an important resistance level, from where the market turned to a correction at the end of August. Economic data also support the defensive tone of risky assets. The number of building permits in the U.S. in August fell by 5.7%, and it is 10% lower than the peak levels of January, when the current trend on a decline was marked. The building activity indicators are often considered to be a reliable growth indicator of the consumer sentiment. And this reversal to a decline is a sign of the consumers’ wariness among the rising interest rates environment. It is also worth noting that the current permits volume is about a half of the peak levels of the last-decade construction boom. Let us add disappointing inflation rates, despite the rise in energy prices and tariff pressures. Current data does not undercut the possibility of two increases by the end of the year, supporting the dollar from falling. However, next year the Fed will probably have to act much more cautiously. In the Asian markets, it also seems that the recovery rally has exhausted. After two days of growth, they turned to a decline, returning to the levels of the end of last week. The housing market in the United States remains a focus of attention with the publication of sales in the secondary housing market, where, as in the construction, there has been a weakening of the indicators for the last few months. In addition, the negotiations between the EU and Britain on Brexit and retail sales statistics can influence the demand for the risks. Yesterday the pound has gone from 2-month highs after the reports that the first day of the Britain and the EU Summit had passed without progress.

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19 сентября, 18:26

Platinum Wave Analysis – 19 September , 2018

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• Platinum broke resistance zone • Further gains are likely Platinum continues to rise after the earlier breakout of the resistance zone lying between the key resistance level 810.00 (which has been reversing the price from the end of August, as can be seen below) and the 50% Fibonacci correction of the previous sharp downward impulse from July. The breakout of this resistance zone should accelerate the active short-term impulse wave (iii) – which belongs to wave C from last month. Platinum is expected to rise further in the active medium-term corrective wave (2) and retest the next resistance level 840.00.

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19 сентября, 18:25

AUDUSD Wave Analysis – 19 September , 2018

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• AUDUSD reversed from support zone • Further gains are likely AUDUSD recently reversed up from the support zone lying between the key, long-term support level 0.7200 (which has been reversing the price from the middle of 2016, as can be seen from the weekly AUDUSD chart below) and the lower weekly Bollinger Band. The upward reversal from this support zone started the active medium-term impulse wave (1) – which belongs to impulse wave III. AUDUSD is expected to rise further in the active medium-term impulse wave (1) and retest the next resistance level 0.7400 (target price for the completion of the active impulse wave (1)).

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19 сентября, 10:23

Markets crave optimism: dollar in defense, stocks grow despite import tariffs

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Despite the expansion of tariffs between China and the United States, global markets remain positive. MSCI Asia ex Japan adds 0.7% this morning; Hong Kong’s Heng Seng increases by 1.1%, although China announced the introduction of 5-10%-tariffs for the U.S. imports of up to $60 billion. S&P500 added 0.5% on Tuesday to the levels above 2900, to important resistance where the correction began last month. Among other important factors, it is worth highlighting the yield growth for 10-year U.S. Treasuries above 3%, up to the maximum since May. Even though usually a yield growth causes the strengthening of the national currency, the dollar almost has not changed for the recent 24 hours. The dollar index remains near 94.0. DXY only managed to depart from month-and-a-half lows in the evening, but in general the trend of this month remains bearish. However, it is necessary to remain cautious about the current trend on the growth of EM stock markets and the weakening of the dollar. Despite the fact that the ECB is moving towards the wind down of its stimulus, it promises not to raise the rate for almost a year, unlike the Fed. The markets are almost sure that it will raise the rates next week and increase the expectations of another hike in December. In Asia’s stock markets, the current growth remains as a part of a technical rebound after a strong oversold earlier this month. In addition, the current round of the rhetoric tightening on international trade makes it almost impossible to end the dispute before the end of the year. It is worth recalling that earlier this year the markets have been confident that trade conflicts would be solved before the end of summer. In the meantime, we see no US deals with China, the EU or NAFTA. Therefore, there are still many risks in the markets, which can send the markets downwards.

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18 сентября, 15:56

Bitcoin increases dominance, but cannot grow in price

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Cryptomarket starts the week in the red zone: Bitcoin (BTC) has lost 3% for the last 24 hours and is trading around $6.300, the second largest cryptocurrency Ethereum (ETH) had fallen by almost 10% and once again has turned back below $200, other top 10 coins now are also in the red zone, losing from 2% to 10%. The price dynamics is also accompanied by an increase in the dominance of the Bitcoin (BTC) above 56%, which indicates that investors withdraw their assets from the altcoins towards the benchmark cryptocurrency. At the same time, daily trading volumes are the lowest since November 2017 with increasing complexity of the BTC production due to the introduction of new mining facilities. It should be noted that the current trade volume is about $10 billion a day and can continue to show a decline without new benchmarks for growth. Now the exchanges are biased towards the creation of their own or the transition to other stable-coins against the backdrop of a USDT discredit: Crypto exchange Digifinex, one of the top 15, also wants to leave Tether for TrueUSD. It seems that big players want to get their own manipulation levers, as everything that happens around Tether is now carefully monitored. It should also be said that the current “Ice Age” can be associated not only with the loss of faith in the “crypto-project” in general, but also with the fact that market participants fully control all possible triggers: movement on large purses is tracked real-time, all the tricks with “pumping and churning” are also known and fully analysed, loud statements of authoritative people from the growth to $250000 and fall to $100 for the BTC also have virtually no impact on the price dynamics of the market. In these conditions, short-term technical factors play an increasingly important role. The recovery of the Bitcoin last week petered, and the benchmark cryptocurrency was quickly discarded to the lower boundary of the range. However, due to the low trade turnover, this weakening looks “false”. It is likely that players pick the most untwisted coins in the downturns. The fall of the ETH attracted buyers and turned into a growth of trading volumes up to the maximums in 3 months. And still it is necessary to remain cautious with purchases of the Bitcoin as the currency is traded at the important support line and experiences returns to a decline from all lower levels.

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18 сентября, 13:18

GBPCHF Wave Analysis – 18 September , 2018

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• GBPCHF reversed from resistance zone • Further losses are likely GBPCHF recently reversed down from the resistance zone located between the pivotal resistance level 1.2730 (which also reversed the price in August, as can be seen below), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous downward impulse 1 from July. The downward reversal from this resistance zone started the active short-term impulse wave 3 – which belongs to the medium-term impulse wave (3) from July. GBPCHF is expected to fall further and retest the next strong support level 1.2500 (low of the previous impulse wave 1).

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18 сентября, 13:16

Palladium Wave Analysis – 18 September , 2018

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• Palladium broke key resistance level 970.00 • Further gains are likely Palladium recently broke above the key resistance level 970.00 (which has reversed the price multiple times from the end of August, as can be seen below). The breakout of the resistance level 970.00 is following the earlier breakout of the resistance zone lying at the intersection of the daily down channel from January and the 100-day moving average. Palladium is expected to rise further in the active medium-term impulse wave (3) and retest the next round resistance level 1000.00.