AUD/USD swings back onto 0.72 handle

The US dollar ran into fresh offers across its main competitors in the Asian trades, allowing a sharp reversal in AUD/USD from three-week lows just under the 0.72 handle, while hawkish comments by RBA’s Kent also offered respite to the bulls.



EUR/USD: Probing key hurdle on broad-based USD weakness

Broad-based USD weakness pushed EUR/USD higher to the confluence of symmetrical triangle hurdle and 55-day moving average (MA). The EUR/USD pair could cross the key technical resistance 1.1435 in Europe, having rallied 0.4 percent in Asia.


GBP/USD Forecast: Sterling may benefit if parliament says “You shall not pass!” to Brexit deal

The GBP/USD was trading little changed over the first week of December opening at 1.2762 and closing at about the same level on Friday as the Brexit parliamentary debate heated up ahead of the parliamentary vote on the Brexit agreement on Tuesday.

Read full report

USD/JPY Forecast: Pressured on trade concerns, awaiting another appearance by Powell

US President Donald Trump and his Chinese counterpart Xi Jinping agreed on a 90-day trade truce in their meeting in Buenos Aires. However, the statements from Washington and Beijing differed.

Read more

Crypto market recovery falters, bears on the alert

Cryptocurrency market has been recovering since Friday when Bitcoin and other major altcoins touched new lows of 2018. Currently, the total capitalization of the digital assets in circulation rose to $113B from as low as $103B on December 7.  While it is too early to claim that the worst is over, crypto investors obviously got some breathing space.

More Bitcoin News

BTCUSD Analysis: Still room for deeper setback [Video]

The latest drop to to a fresh 2018 low ends a period of range contraction and has the market sinking down below the apex of the triangle it had been trading in. This is quite bearish and sets the stage for an even bigger decline towards the September 2017 low down around $2,975.

More Bitcoin News

IOTA stuck in a downward spiral

IOTA has stuck itself into a downward sloping parallel channel where it is sitting just at the cusp of the lower line of the channel, a break below would be catastrophic as then it would be an unchaarted territory and probably all time lows too. IOT/USD is up more than 2 percent on day at $0.2336 just around...

More IOTA News

EOS bears overachieve themselves

EOS bears have been rejoicing with joy as they have overachieved their bearish targets on the downside of a triangle breakdown, as reported last week by this author (read here). What next? If prices don't stabilise here, then chances of a severe breakdown are quite high.

More EOS News

Daily Recommendations on Major - EUR/USD

GBPUSD Analysis: Outlook bearish until.... [Video]

USD/JPY: US dollar bounced at 112.295 and attempted to push through 112.450

Aussie dips as China trade slows

Valeria Bednarik

Slow economic growth still the main drag for the common currency

The EUR/USD pair seesawed between gains and losses throughout the week, finishing it up around the 1.1400 level. For a sixth consecutive week, the pair has been unable to find a certain direction, trapped between a more dovish Fed and slowing growth and political turmoil in the EU.

Yohay Elam

EUR/USD is trading at the upper half of the trading range at the wake of the last European session of the week, ahead of the all-important US jobs report and the German CDU Conference in which Angela Merkel's successor will be elected.

The Technical Confluences Indicator shows that euro/dollar enjoys significant support at 1.1351 where we see the convergence of the Simple Moving Average 50-4h, the SMA 5-one-day, the SMA 200-1h, the Bollinger Band one-day Middle, and the Fibonacci 61.8% one-week.

It is followed closely by 1.1328 where we note the confluence of the Fibonacci 61.8% one-month, the Pivot Point one-day Support 1, the Fibonacci 38.2% one-week, and yesterday's low.

Looking up, there is some resistance around 1.1392 which is the meeting point of the Fibonacci 23.6% one-day and the Fibonacci 38.2% one-month.

Read Full Report

Forex Foundation Video Course

New to Forex or want a refresher course in the key concepts? Learn from Seasoned Traders with our new video course in collaboration with the Online Trading Academy. These lessons will get you off to a fast start! And they are free.

Watch now


Date Event Title Sponsor More Info
Premium Lets Plan 2019 David Pegler Event Details
Premium Elliott Wave Live Analysis Gregor Horvat Event Details
Live Market Timing and Trading with Sam Seiden - Free Access Sam Seiden Event Details
Premium Fibonacci Trading Methods Nenad Kerkez Event Details