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Wave Tech Analysis

FxPro Forex Analysis: AUD/NZD Wave Analysis – 20 August , 2018

• AUD/NZD reversed from support zone • Further gains are likely AUD/NZD continues to rise after the earlier upward reversal from the support area located between the key support level 1.0980 (former powerful resistance from July) and the 38.2% Fibonacci correction of the previous sharp upward impulse form June. The upward reversal from this support zone is aligned with the medium-term uptrend visible on the daily AUD/NZD charts. Given the strength of the aforementioned support zone, AUD/NZD is ...

Wave Tech Analysis

FxPro Forex Analysis: Palladium Wave Analysis – 20 August , 2018

• Palladium reversed from support zone • Further gains are likely Palladium recently reversed up sharply from the major support area located between the key support level 825.00, lower weekly Bollinger Band and the 61.8% Fibonacci correction of the previous weekly uptrend from the end of 2016. The upward reversal from this support zone created the powerful Japanese candlesticks reversal pattern weekly Hammer. Given the strength of the aforementioned support zone, Palladium is expected to rise ...

The FxPro Analyst Team

Midday EUR roundup

A single currency fell back to 1.14 to the dollar by Europe opening, from 1.1440 at the day start. Bullish: continued stock markets recovery on speculations about US-China trade talks. Bearish: German PPI growth by 0.2% in July, below expected 0.4%; renewed pressure to TRY and CNH. Next focus on: Bundesbank President Jens Weidmann speech at 17:00 GMT

The FxPro Analyst Team

FxPro Forex Analysis: Daily trends: EURUSD, GBPUSD, Gold, Brent

EURUSD EURUSD is trading near 1.1420, losing 0.2% from the beginning of the day after an impressive growth on Friday from 1.1370 to 1.1440. The growth on Friday was largely associated with upward correction after a strong decline. According to technical analysis, despite the increase in EURUSD on Thursday and Friday, the bearish trend remains in effect while the pair is trading below 1.1500 level. GBPUSD The British currency is trading near 1.2740, adding about 0.6% to the lows at 1.2660. The ...

The FxPro Analyst Team

FxPro Forex Analysis: Fed can form a new basis for EM currencies outflow

Asian bourses remain moderately optimistic since the end of last week. Expectations are encouraging that the Chinese and Turkish authorities should be able to find economic support measures and stabilise the exchange rates of their currencies. Beijing defended its currency from a decline to 7.0 for the dollar last week, and also already offered to the US a meeting for trade negotiations this week. As a result, Asian markets add about 0.3% this morning and CNH traded on 6.84, below last ...

Wave Tech Analysis

FxPro Forex Analysis: Sugar Wave Analysis – 17 August , 2018

• Sugar falling inside minor impulse wave 5 • Further losses are likely Sugar continues to fall inside the minor impulse wave 5 – which belongs to the medium-term impulse wave (3) from the end of May (which previously broke through the key support level 10.80). The price earlier made a failed attempt to break above the aforementioned price level 10.80 (acting as resistance after it was broken recently) – which strengthened the bearish pressure on this currency pair. Given the strength of the ...

Wave Tech Analysis

FxPro Forex Analysis: EUR/CHF Wave Analysis – 17 August , 2018

• EUR/CHF reversed from long-term support level 1.1250 • Further gains are likely EUR/CHF continues to rise after the earlier sharp upward reversal from the long-term support level 1.1250 (which also previously reversed the price sharply in August of 2017) – strengthen by the lower daily Bollinger Band. The upward reversal from this support level created the daily Japanese candlesticks reversal pattern Morning Star, highlighted below. Given the proximity of the support level 1.1250, EUR/CHF is ...

The FxPro Analyst Team

FxPro Forex Analysis: Bitcoin still in demand following period of recessions

Bitcoin continues to “lick its wounds” after a devastating correction at the start of the week, pushing the total market cap up to $213 against lows at $189 billion, the lowest level since late October 2017. This recovery can barely be considered as strong despite of the TOP-100 coins being mostly in the green zone, as their rates are significantly lower than they were before the correction. Increased volatility rates and mining on the edge of profitability suppresses activity and provokes ...

The FxPro Analyst Team

Midday EUR roundup

A single currency continues its recovery to the dollar in the morning on Friday, increased above 1.1410 at one point. Bullish: confirmed increasing in inflation for euro area to 2.1% in July; continued markets recovery on trade talks between China and the U.S. Bearish: growth in Italian bond yields; renewed pressure to TRY; the five months decline in eurozone’s current account surplus. Next focus on: U.S. UoM Consumer Sentiment