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The FxPro Analyst Team

FxPro Forex Analysis: US WTI Oil Analysis – June 20, 2018

Crude oil is set to enter a volatile period with the start of the OPEC meeting in Vienna on Friday. Traders should also remain alert to market moving headlines ahead of the meeting as ministers from OPEC members are attending the OPEC international seminar and may give interviews to the media. Oil prices have been falling in recent weeks due to the possibility of OPEC agreeing to higher production. Additionally, President Trump has been applying pressure on OPEC to increase production to reduce ...

The FxPro Analyst Team

FxPro Forex Analysis: Gold

The precious metal has finally broken under 1285.00 and left the 1300.00 zone behind. The FOMC and ECB meetings last week provided the catalyst for the breakout. Volatility diminished to for a Bearish Pennant Pattern in the lead into the meetings but FOMC pushed price out the top of the pattern before the reaction to the ECB resulted in a selloff from 1309.00. Technical’s are always reduced in importance around big central bank meetings and become secondary indicators until price settles down. ...

The FxPro Analyst Team

FxPro Forex Analysis: EURUSD Analysis – June 20, 2018

The EURUSD pair has found some stability after the ECB meeting last week which sent the price tumbling from 1.18500 to 1.15500. Resistance is now coming in at 1.15925 ahead of 1.16000. Above this level is the high for this week at 1.16443 and then the 1.16600 level and the falling 50 period MA. The 100 period MA is moving down through 1.17000 with resistance beyond at 1.17152. The 1.17631 level was the location of a break in the moving averages on the ECB selloff where the 50 and the 100 MA’s ...

The FxPro Analyst Team

Central Bank Heads join panel discussion in Portugal today

At 08:00 GMT, ECB’s Lautensclager is due to speak today. EUR crosses can be impacted by any comments made. At 09:30 GMT, ECB’s Coeure is due to chair a discussion on the Macroeconomics of price and wage setting. EUR crosses can be moved by any comments made in relation to ECB policy. At 13:00 GMT, SNB Quarterly Bulletin is due to be released. This includes the Monetary Policy Report, the Exchange rate survey and a report on Business cycle trends. CHF crosses can be impacted by this publication. ...

The FxPro Analyst Team

FxPro Forex Analysis: Markets consolidate after sharp decline as dips are bought

Markets are taking a breath right now and retracing some of the moves over the past number of sessions. Whether this turns into a broader rally or the selloff is resumed remains to be seen. Stock markets are higher after support was found in the European session yesterday and US and Asian traders built on the foundations of that support. Asian stock markets (ex Japan) experienced big declines on trade worries on Tuesday losing 2.1%. Shanghai Composite Index plummeted by 3.8%. Today Chinese ...

The FxPro Analyst Team

FxPro Forex Analysis: Bitcoin can rebound higher than $7,000

Cryptocurrency market seems returned to growth after a prolong depression. To last week lows, the crypto market cap has added 10% to $290 bln. Bitcoin trading near $6,700. The altcoins fully replicate this growth. If this rebound continues, Bitcoin could rebound above $7,000 mark. Some experts noticed that optimism has come due to SEC’s official’s announcements that Bitcoin won’t be considered as securities. The current technical situation is on the buyers’ side and technical indicator RSI ...

The FxPro Analyst Team

FxPro Forex Analysis: AUDUSD and AUS200 Analysis – June 19, 2018

The Australian Dollar fell to a one-year low on Tuesday after the release of the minutes from the latest Reserve Bank of Australia (RBA) monetary policy meeting and escalation of the trade war between US and China. The minutes from the RBA omitted a key statement saying that "members agreed that it was more likely that the next move in the cash rate would be up, rather than down" which implies a downgrade to the outlook on interest rates. This highlights the continuing policy divergence with ...

The FxPro Analyst Team

FxPro Forex Analysis: US 30 Index Analysis – June 19, 2018

This Index has weakened after an impressive rally earlier this month, peaking at 25400.00. Trade war worries shift sentiment to a more defensive stance and Investors rotated into Tech early last week leaving industrials searching for liquidity. The trend line was loss as price tried to stabilize at the 50 and 55 period MAs but selling on Friday sent price under 25100.00 and we are now 500 points lower. Support today comes in at 24500.00 followed by 24345.00 and 24245.00. A loss of 24200.00 ...

The FxPro Analyst Team

FxPro Forex Analysis: AUDJPY Analysis – June 19, 2018

The AUDJPY pair was hammered overnight as US President Trump announced his wish to impose a further $200 Billion worth of tariffs on trade with China. The Australian economy is largely dependent on exports of raw materials to China and the AUD reacted accordingly. The price broke under trend line support at 81.314 but remains above the March low at 80.480. This is a critical level for the pair with a fall under this support extending losses towards 80.000 and 79.162. It is possible that the ...