Forex and Currency News

Archive for Forex and Currency News – Page 187

EUR/USD Got Under Pressure

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

The major currency dropped and is currently trading at 1.1260. The currency market is taking a huge interest in “safe haven” assets and that’s a perfect reason for the “greenback” to rise.

Coronavirus-related fears are once again ruling the world. After Bloomberg reported a possibility of new anti-COVID restrictions in Europe, the Netherlands-style, many investors rushed off to “safe haven” assets to avoid risks.

Is Europe likely to introduce more lockdowns? No one should exclude this possibility and this fact provides the “greenback” with huge support, keeping the demand for the American currency quite high.

Another thing in favour of the USD is the Fed’s intention to quickly taper the QE programme and start discussing the rate hike as early as June 2022.

In the H4 chart, EUR/USD is correcting downwards to reach 1.1200 and may later consolidate there. If the price breaks the range to the upside, the market may start a new growth with the target at 1.1291. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving below 0 and may later continue falling towards new lows.

As we can see in the H1 chart, EUR/USD is forming another descending structure with the short-term at 1.1213 and may later start a new correction towards 1.1280. After that, the instrument may resume falling and finish this descending wave at 1.1200. From the technical point of view, this idea is confirmed by the Stochastic Oscillator: its signal line is moving above 80, which means that the asset may complete the ascending structure soon and the line may continue its movement to reach new lows.

Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Financial News Forex and Currency News

18 Dec

COT Currency Speculators elevate Mexican Peso bets by most since May 2017

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday December 14th 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the euro will decline versus the dollar.

Highlighting this week’s COT currency data was a giant surge in bets in favor of the Mexican peso. Speculative positions jumped by over +53,000 contracts this week, marking the largest one-week increase since a gain of +54,788 contracts back on May 9th of 2017, a span of two-hundred and forty weeks. The largest one-week rise in peso contracts was +58,504 contracts on March 27th of 2012. Overall, peso positioning went from a total speculative standing of -64,126 contracts last week to a total of -10,673 contracts this week. Helping the cause of the peso this week was the fifth straight interest rate rise by the Mexican central bank that pushed its interest rate higher by 50 basis points.

Joining the Mexican peso (53,453 contracts) with positive changes this week were the Japanese yen (9,558 contracts), Brazil real (1,007 contracts), Swiss franc (3,717 contracts), Australian dollar (2,889 contracts), Russian ruble (2,725 contracts) and Bitcoin (136 contracts).

The currencies with declining speculator bets were the US Dollar Index (-3,624 contracts), Euro (-3,580 contracts), British pound sterling (-12,471 contracts), New Zealand dollar (-16,569 contracts) and the Canadian dollar (-3,770 contracts).

Data Snapshot of Forex Market Traders | Columns Legend

Dec-14-2021	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
USD Index	52,098	72	31,241	80	-36,615	14	5,374	75
EUR	661,711	69	-11,879	31	-16,589	71	28,468	22
GBP	213,210	47	-50,748	37	70,440	71	-19,692	15
JPY	176,584	39	-53,523	34	71,060	71	-17,537	12
CHF	38,467	12	-8,336	55	14,808	47	-6,472	44
CAD	186,638	55	-13,128	44	-2,059	50	15,187	60
AUD	197,405	81	-78,903	10	98,423	92	-19,520	5
NZD	41,223	27	-5,861	61	8,174	43	-2,313	25
MXN	101,049	0	-10,673	23	12,423	78	-1,750	36
RUB	64,500	78	16,524	53	-17,603	45	1,079	64
BRL	27,706	23	-4,617	62	4,992	40	-375	62
Bitcoin	13,518	77	-772	85	257	0	515	25

US Dollar Index Futures:

The US Dollar Index large speculator standing this week totaled a net position of 31,241 contracts in the data reported through Tuesday. This was a weekly decrease of -3,624 contracts from the previous week which had a total of 34,865 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 79.7 percent. The commercials are Bearish-Extreme with a score of 13.8 percent and the small traders (not shown in chart) are Bullish with a score of 75.3 percent.

US DOLLAR INDEX Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	81.1	3.2	13.6
– Percent of Open Interest Shorts:	21.2	73.5	3.3
– Net Position:	31,241	-36,615	5,374
– Gross Longs:	42,263	1,693	7,071
– Gross Shorts:	11,022	38,308	1,697
– Long to Short Ratio:	3.8 to 1	0.0 to 1	4.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	79.7	13.8	75.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.5	9.0	-18.6

Euro Currency Futures:

The Euro Currency large speculator standing this week totaled a net position of -11,879 contracts in the data reported through Tuesday. This was a weekly decline of -3,580 contracts from the previous week which had a total of -8,299 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 31.4 percent. The commercials are Bullish with a score of 71.0 percent and the small traders (not shown in chart) are Bearish with a score of 21.6 percent.

EURO Currency Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.6	57.1	12.1
– Percent of Open Interest Shorts:	30.4	59.6	7.8
– Net Position:	-11,879	-16,589	28,468
– Gross Longs:	189,530	378,079	80,169
– Gross Shorts:	201,409	394,668	51,701
– Long to Short Ratio:	0.9 to 1	1.0 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	31.4	71.0	21.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.8	1.7	-0.7

British Pound Sterling Futures:

The British Pound Sterling large speculator standing this week totaled a net position of -50,748 contracts in the data reported through Tuesday. This was a weekly decline of -12,471 contracts from the previous week which had a total of -38,277 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 37.4 percent. The commercials are Bullish with a score of 71.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.8 percent.

BRITISH POUND Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	13.8	76.1	9.2
– Percent of Open Interest Shorts:	37.6	43.1	18.4
– Net Position:	-50,748	70,440	-19,692
– Gross Longs:	29,497	162,359	19,535
– Gross Shorts:	80,245	91,919	39,227
– Long to Short Ratio:	0.4 to 1	1.8 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	37.4	71.3	14.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-47.4	48.6	-33.9

Japanese Yen Futures:

The Japanese Yen large speculator standing this week totaled a net position of -53,523 contracts in the data reported through Tuesday. This was a weekly boost of 9,558 contracts from the previous week which had a total of -63,081 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 34.2 percent. The commercials are Bullish with a score of 71.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.9 percent.

JAPANESE YEN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	11.5	77.5	9.8
– Percent of Open Interest Shorts:	41.8	37.3	19.7
– Net Position:	-53,523	71,060	-17,537
– Gross Longs:	20,231	136,938	17,308
– Gross Shorts:	73,754	65,878	34,845
– Long to Short Ratio:	0.3 to 1	2.1 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	34.2	71.5	11.9
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	34.2	-27.2	1.8

Swiss Franc Futures:

The Swiss Franc large speculator standing this week totaled a net position of -8,336 contracts in the data reported through Tuesday. This was a weekly rise of 3,717 contracts from the previous week which had a total of -12,053 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 55.4 percent. The commercials are Bearish with a score of 47.5 percent and the small traders (not shown in chart) are Bearish with a score of 44.3 percent.

SWISS FRANC Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	3.5	67.0	29.4
– Percent of Open Interest Shorts:	25.2	28.5	46.2
– Net Position:	-8,336	14,808	-6,472
– Gross Longs:	1,344	25,786	11,302
– Gross Shorts:	9,680	10,978	17,774
– Long to Short Ratio:	0.1 to 1	2.3 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	55.4	47.5	44.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	21.5	-12.1	-4.8

Canadian Dollar Futures:

The Canadian Dollar large speculator standing this week totaled a net position of -13,128 contracts in the data reported through Tuesday. This was a weekly fall of -3,770 contracts from the previous week which had a total of -9,358 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 44.1 percent. The commercials are Bullish with a score of 50.4 percent and the small traders (not shown in chart) are Bullish with a score of 60.0 percent.

CANADIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.5	39.9	22.7
– Percent of Open Interest Shorts:	27.5	41.0	14.6
– Net Position:	-13,128	-2,059	15,187
– Gross Longs:	38,230	74,451	42,399
– Gross Shorts:	51,358	76,510	27,212
– Long to Short Ratio:	0.7 to 1	1.0 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	44.1	50.4	60.0
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-14.4	15.9	-16.1

Australian Dollar Futures:

The Australian Dollar large speculator standing this week totaled a net position of -78,903 contracts in the data reported through Tuesday. This was a weekly advance of 2,889 contracts from the previous week which had a total of -81,792 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 10.4 percent. The commercials are Bullish-Extreme with a score of 92.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 4.8 percent.

AUSTRALIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	14.8	74.8	8.5
– Percent of Open Interest Shorts:	54.8	24.9	18.4
– Net Position:	-78,903	98,423	-19,520
– Gross Longs:	29,254	147,601	16,807
– Gross Shorts:	108,157	49,178	36,327
– Long to Short Ratio:	0.3 to 1	3.0 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	10.4	92.3	4.8
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-3.2	18.3	-51.3

New Zealand Dollar Futures:

The New Zealand Dollar large speculator standing this week totaled a net position of -5,861 contracts in the data reported through Tuesday. This was a weekly fall of -16,569 contracts from the previous week which had a total of 10,708 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 61.4 percent. The commercials are Bearish with a score of 43.0 percent and the small traders (not shown in chart) are Bearish with a score of 25.4 percent.

NEW ZEALAND DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.8	58.2	7.5
– Percent of Open Interest Shorts:	47.1	38.4	13.1
– Net Position:	-5,861	8,174	-2,313
– Gross Longs:	13,539	23,994	3,081
– Gross Shorts:	19,400	15,820	5,394
– Long to Short Ratio:	0.7 to 1	1.5 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	61.4	43.0	25.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-33.1	38.2	-58.1

Mexican Peso Futures:

The Mexican Peso large speculator standing this week totaled a net position of -10,673 contracts in the data reported through Tuesday. This was a weekly gain of 53,453 contracts from the previous week which had a total of -64,126 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 22.8 percent. The commercials are Bullish with a score of 78.0 percent and the small traders (not shown in chart) are Bearish with a score of 35.6 percent.

MEXICAN PESO Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	34.4	60.9	3.8
– Percent of Open Interest Shorts:	44.9	48.6	5.5
– Net Position:	-10,673	12,423	-1,750
– Gross Longs:	34,748	61,580	3,829
– Gross Shorts:	45,421	49,157	5,579
– Long to Short Ratio:	0.8 to 1	1.3 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	22.8	78.0	35.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	17.2	-15.2	-16.8

Brazilian Real Futures:

The Brazilian Real large speculator standing this week totaled a net position of -4,617 contracts in the data reported through Tuesday. This was a weekly boost of 1,007 contracts from the previous week which had a total of -5,624 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 62.4 percent. The commercials are Bearish with a score of 40.1 percent and the small traders (not shown in chart) are Bullish with a score of 62.3 percent.

BRAZIL REAL Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	37.9	52.5	9.1
– Percent of Open Interest Shorts:	54.5	34.5	10.4
– Net Position:	-4,617	4,992	-375
– Gross Longs:	10,491	14,537	2,519
– Gross Shorts:	15,108	9,545	2,894
– Long to Short Ratio:	0.7 to 1	1.5 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	62.4	40.1	62.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	12.9	-12.5	-3.5

Russian Ruble Futures:

The Russian Ruble large speculator standing this week totaled a net position of 16,524 contracts in the data reported through Tuesday. This was a weekly boost of 2,725 contracts from the previous week which had a total of 13,799 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 52.5 percent. The commercials are Bearish with a score of 45.2 percent and the small traders (not shown in chart) are Bullish with a score of 63.9 percent.

RUSSIAN RUBLE Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	33.5	55.2	3.5
– Percent of Open Interest Shorts:	7.9	82.5	1.8
– Net Position:	16,524	-17,603	1,079
– Gross Longs:	21,623	35,635	2,230
– Gross Shorts:	5,099	53,238	1,151
– Long to Short Ratio:	4.2 to 1	0.7 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	52.5	45.2	63.9
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.2	9.8	-22.3

Bitcoin Futures:

The Bitcoin large speculator standing this week totaled a net position of -772 contracts in the data reported through Tuesday. This was a weekly increase of 136 contracts from the previous week which had a total of -908 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 85.2 percent. The commercials are Bullish with a score of 55.0 percent and the small traders (not shown in chart) are Bearish with a score of 24.6 percent.

BITCOIN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	72.5	3.1	11.6
– Percent of Open Interest Shorts:	78.2	1.2	7.8
– Net Position:	-772	257	515
– Gross Longs:	9,795	421	1,565
– Gross Shorts:	10,567	164	1,050
– Long to Short Ratio:	0.9 to 1	2.6 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	85.2	55.0	24.6
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	19.7	-15.6	-15.4

Article By InvestMacro – Receive our weekly COT Reports by Email

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.

17 Dec

Ichimoku Cloud Analysis 17.12.2021 (GBPUSD, XAUUSD, USDCHF)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3333; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3275 and then resume moving upwards to reach 1.3495. Another signal in favour of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3180. In this case, the pair may continue falling towards 1.3095.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1802.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1785.00 and then resume moving upwards to reach 1845.00. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1770.00. In this case, the pair may continue falling towards 1745.00.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9182; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9210 and then resume moving downwards to reach 0.9105. Another signal in favour of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.9255. In this case, the pair may continue growing towards 0.9345.

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.

Financial News Forex and Currency News

17 Dec

Japanese Candlesticks Analysis 17.12.2021 (USDCAD, AUDUSD, USDCHF)

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns, including Inverted Hammer, close to the support level, USDCAD may reverse in the form of another rising wave. In this case, the upside target may be the resistance area at 1.2900. However, an alternative scenario implies that the asset may correct to reach 1.2740 first and then resume trading upwards.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has formed a Hammer reversal pattern near the support area. At the moment, the asset is reversing in the form of another rising impulse. In this case, the upside target may be the resistance level at 0.7290. At the same time, an opposite scenario implies that the price may continue falling to reach 0.7090 before resuming its ascending tendency.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after testing the support area, the pair has formed several reversal patterns, for example, Hammer. At the moment, USDCHF may reverse in the form of a new rising wave towards the resistance level. In this case, the upside target may be at 0.9275. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 0.9155 before resuming its growth.

Article By RoboForex.com

Financial News Forex and Currency News

17 Dec

The Analytical Overview of the Main Currency Pairs on 2021.12.17

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.1287
Prev Close: 1.1330
% chg. over the last day: +0.38%

The ECB expectedly kept the base interest rate at zero level, while the deposit rate was left at minus 0.5%. The ECB will end its PEPP program in March 2022. The ECB can also extend PEPP reinvestment until at least the end of 2024. With a high probability, investors should not expect the ECB to raise interest rates in 2022. Eurozone inflation data will be released today.

Trading recommendations

Support levels: 1.1323, 1.1265, 1.1230, 1.1168
Resistance levels: 1.1360, 1.1436, 1.1535, 1.1613, 1.1667, 1.1717

From a technical point of view, the EUR/USD on the hour time frame is still bearish. The price is trading in a wide corridor. Yesterday, there was an attempt to break out through the priority change level, but the sellers were stronger. The MACD indicator became positive, and the buyers’ pressure is still strong. Under such market conditions, traders should consider sell positions from the priority change level, but with additional confirmation. Buy trades can be considered after a true breakout of the priority change level.

Alternative scenario: if the price breaks out through the 1.1360 resistance level and fixes above, the mid-term uptrend will likely resume.

News feed for 2021.12.17:

– Germany IFO Business Climate Index (m/m) at 11:00 (GMT+2);
– Eurozone Consumer Price Index (m/m) at 12:00 (GMT+2);
– US FOMC Member Wallers’ speech at 20:00 (GMT+2).

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.3256
Prev Close: 1.3324
% chg. over the last day: +0.52%

The Bank of England unexpectedly raised its key interest rate to 0.25% from 0.1%. At the same time, the central bank left the volume of the government bond-buying program at 875 billion pounds. According to the Bank of England forecasts, inflation may reach 6% in the coming months.

Trading recommendations

Support levels: 1.3301, 1.3272, 1.3220, 1.3189
Resistance levels: 1.3365, 1.3434, 1.3507, 1.3575, 1.3685

On the hourly time frame, the trend on GBP/USD has changed to bullish. An interest rate hike from the central bank played a key role. The price broke through the priority change level and closed higher. The MACD indicator became positive. Under such market conditions, traders should consider buy positions from the support levels near the moving average. Sell trades can be considered from the resistance levels of the higher time frame, but only with additional confirmation; as an option – to sell after a false breakout of the 1.3365 level.

Alternative scenario: if the price breaks down through the 1.3189 support level and consolidates below, the bearish scenario will likely resume.

News feed for 2021.12.17:

– UK Retail Sales (m/m) at 09:00 (GMT+2).

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 113.98
Prev Close: 113.69
% chg. over the last day: -0.26%

The Bank of Japan has made no changes to its ultra-soft monetary policy as it monitors the impact of the new variant of the Omicron coronavirus. At the same time, the Bank of Japan decided to cut its funding support program from the effects of COVID-19 as financing conditions for large companies improved. The interest rate remained unchanged.

Trading recommendations

Support levels: 113.30, 112.62, 112.30
Resistance levels: 113.95, 114.17, 115.15, 115.50

The global trend on the USD/JPY currency pair is bearish. Yesterday, the price tried to break out through the priority change level, but the sellers managed to protect the level. Today, on the news from the Bank of Japan, the yen strengthened against the dollar, as the Bank of Japan began to take the first steps to tighten its policy. Under such market conditions, traders can look for sell positions from the 113.95 resistance level but with additional confirmation. Buy positions should be considered from the 113.30 support level, but with additional confirmation in the form of a buyers’ initiative or after the price breakout the priority change level.

Alternative scenario: if the price rises above 114.17, the uptrend will likely resume.

News feed for 2021.12.17:

– Japan BoJ Interest Rate Decision at 04:30 (GMT+2);
– Japan BoJ Monetary Policy Statement at 04:30 (GMT+2).

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.2831
Prev Close: 1.2774
% chg. over the last day: -0.44%

The USD/CAD quotes are declining again amid rising oil prices and a decline in the dollar index. The Canadian dollar is a commodity currency, so it is highly correlated with these instruments. The tightening of the monetary policy from the US Federal Reserve will stimulate the dollar index to grow, while oil prices will depend on the demand for fuel.

Trading recommendations

Support levels: 1.2721, 1.2677, 1.2638
Resistance levels: 1.2828, 1.2891, 1.2951

From a technical point of view, the USD/CAD currency pair trend is bullish. The MACD became negative; the price corrected the dynamic moving average level. Under such market conditions, it is better to look for buy deals from the support levels near the moving average on the lower time frames. It is best to look for sell deals from the false breakout area, but with additional confirmation.

Alternative scenario: if the price breaks down through the 1.2721 support level and fixes below, the downtrend will likely resume.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Financial News Forex and Currency News

16 Dec

RoboMarkets Mobile Platform Was Chosen as the Best In 2021

RoboMarkets, a provider of investment services in Europe, announced the reception of the “Best Mobile Trading Platform” award from the Professional Trader Awards. The winners have been determined by the votes of the professional trader community.

The award-winning companies were announced at the ceremonial reception that took place in London on 9 December 2021. RoboMarkets was honoured as the prize winner in the “Best Mobile Trading Platform” category for the second straight year. The award is presented to the broker that is dedicated to offering the best mobile product on the professional account market.

RoboMarkets was recognised for its mobile workstation, R StocksTrader — a powerful and user-friendly application. R StocksTrader is a universal application for trading from smartphones and tablet PCs. The R StocksTrader platform offers over 12,000 instruments for trading, including more than 3,000 stocks, indices, ETFs, and CFDs.

How are the winners of the Professional Trader Awards 2021 selected?

During the first stage, which lasts for four weeks, the organising committee receives applications from brokers that nominate themselves in the different chosen categories. In the next stage, the committee conducts a survey among the trader community, whereby traders with professional trading accounts are asked to vote for a particular broker from the nominees list. This describes how the trader community has selected the winners of the Professional Trader Awards also in 2021.

In 2021, the organising committee presented awards for 17 nominations. The “Professional Trader Awards” are given in recognition of excellence to the brokers that offer exclusive services for professional trading accounts. Among the winners are the providers of financial services that equally prioritise the quality of their services, their cutting-edge technologies, and their clients’ needs and satisfaction.

Denis Golomedov, Chief Marketing Officer at RoboMarkets, says: “It’s a great honour for us to receive the best mobile platform award for the second time in a row. This means that the professional trader community highly appreciates the products for mobile trading offered by RoboMarkets. Our clients want to be able to exercise control over their accounts, and trade around the clock from any part of the world where there is internet access. We understand these needs, and therefore put a lot of effort and ingenuity into continuously developing our proprietary mobile trading solutions. R StocksTrader enables our clients to trade in 6 markets in over 12,000 trading instruments. The innovative app also offers analytical market data, excellent charts, and a handy corporate actions calendar – all made available free of charge (with no monthly fees). The trading features and the information sharing on the app, along with RoboMarkets support, help our clients invest confidently. All the above make R StocksTrader stand out from its market competitors, as evidenced by the choice of professional traders. We thank everyone who voted for RoboMarkets and helped us win this award!”

About RoboMarkets

RoboMarkets is an investment company, operating under CySEC licence No. 191/13. RoboMarkets offers investment services in European countries by providing access to its proprietary trading platforms to traders who work on financial markets. Find out more about the Company’s products and activities on www.robomarkets.com.

Financial News Forex and Currency News

16 Dec

Forex Technical Analysis & Forecast 16.12.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has completed another descending wave at 1.1222; right now, it is correcting towards 1.1300. After that, the instrument may start a new decline to break 1.1200 and then resume trading downwards with the target at 1.1180.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the descending wave at 1.3172 along with the correction towards 1.3272, GBPUSD is expected to resume falling to break 1.3215 and may later continue trading downwards with the target at 1.3150.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 73.50 without any specific direction. Possibly, the pair may break the range to the downside and resume falling with the first target at 72.50. Later, the instrument may start a new correction towards 74.20.

USDJPY, “US Dollar vs Japanese Yen”

After completing the ascending wave at 114.04, USDJPY is forming a new consolidation range around this level. Possibly, the pair may break the range to the upside and grow to reach 114.44. Later, the market may start a new decline towards 113.85 and then resume trading upwards with the target at 115.00.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished the ascending wave at 0.9286 along with the correction towards 0.9232. Possibly, today the pair may resume growing to break 0.9290 and then form one more ascending structure with the target at 0.9350.

AUDUSD, “Australian Dollar vs US Dollar”

After falling and reaching 0.8092, AUDUSD has competed the ascending structure at 0.7180. Later, the market may start another decline with the target at 0.7071.

BRENT

Brent has finished the correction at 72.50 along with the ascending structure towards 74.60. Possibly, today the asset may fall to reach 72.40. Later, the market may start a new growth to break 75.00 and then form one more ascending structure with the target at 78.00.

XAUUSD, “Gold vs US Dollar”

After completing the descending wave at 1752.50, Gold has finished the ascending impulse towards 1784.00. Possibly, the metal may correct to reach 1765.00 and then resume trading upwards with the target at 1800.00.

S&P 500

The S&P index has finished the descending structure at 4610.7; right now, it is growing towards 4750.0. Later, the market may correct to reach 4652.0 and then form one more ascending wave with the target at 4800.0.

Article By RoboForex.com

Financial News Forex and Currency News

16 Dec

Ichimoku Cloud Analysis 16.12.2021 (AUDUSD, USDCHF, NZDUSD)

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7162; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7120 and then resume moving upwards to reach 0.7275. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7065. In this case, the pair may continue falling towards 0.6975.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9242; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9220 and then resume moving upwards to reach 0.9355. Another signal in favour of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.9195. In this case, the pair may continue falling towards 0.9105.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6776; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6805 and then resume moving downwards to reach 0.6635. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6835. In this case, the pair may continue growing towards 0.6925.

Article By RoboForex.com

Financial News Forex and Currency News

16 Dec

The Analytical Overview of the Main Currency Pairs on 2021.12.16

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.1258
Prev Close: 1.1294
% chg. over the last day: +0.32%

Analysts polling shows Eurozone inflation at 3.5% in Q1 2022, 3.1% in Q2, and 2.4% in Q3 2022. At the same time, inflation in the Eurozone may be higher than expected next year, and long-term forecasts may be revised to increase. Today, the ECB will report on further monetary policy plans. Given that the ECB expects a decline in inflation, the tightening of monetary policy in the region should not be expected.

Trading recommendations

Support levels: 1.1265, 1.1230, 1.1168
Resistance levels: 1.1323, 1.1360, 1.1436, 1.1535, 1.1613, 1.1667, 1.1717

From a technical point of view, the EUR/USD on the hour time frame is still bearish. The price is trading in the corridor, while there is an expansion of borders in the form of false breaks. The MACD indicator has become inactive. Under such market conditions, traders should consider sell positions from the resistance level of 1.1323. Buy trades can be considered from the false breakdown zone, but only with additional confirmation.

Alternative scenario: if the price breaks out through the 1.1360 resistance level and fixes above, the mid-term uptrend will likely resume.

News feed for 2021.12.16:

– Germany Manufacturing PMI (m/m) at 10:30 (GMT+2);
– Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+2);
– Eurozone Services PMI (m/m) at 11:00 (GMT+2);
– Eurozone ECB Interest Rate Decision at 14:45 (GMT+2);
– Eurozone ECB Monetary Policy Statement at 14:45 (GMT+2);
– Eurozone ECB Press Conference at 15:30 (GMT+2);
– US Building Permits (m/m) at 15:30 (GMT+2);
– US Initial Jobless Claims (w/w) at 15:30 (GMT+2);
– US Philadelphia Fed Manufacturing Index (m/m) at 15:30 (GMT+2);
– US Industrial Production (m/m) at 16:15 (GMT+2);
– US Manufacturing PMI (m/m) at 16:45 (GMT+2);
– US Services PMI (m/m) at 16:45 (GMT+2).

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.3228
Prev Close: 1.3257
% chg. over the last day: +0.22%

The UK consumer price level for November was 5.1% in annual terms (4.8% was expected). Analysts believe that the Bank of England should take advantage of the nearest opportunity to tighten the program of quantitative easing and strive to increase interest rates, as the US Fed made. The United Kingdom announces a record number of daily cases of COVID-19. For Wednesday, 78,610 new COVID-19 cases were registered compared with 59,610 during the day earlier.

Trading recommendations

Support levels: 1.3188
Resistance levels: 1.3252, 1.3321, 1.3434, 1.3507, 1.3575, 1.3685

On the hourly time frame, the trend on GBP/USD is bearish. The price is trading in the corridor, while there is an expansion of borders in the form of false breaks. The MACD indicator has become positive. Under such market conditions, traders should consider sell positions from the resistance levels around the moving average. Buy trades can be considered from the false breakdown zone, but only with additional confirmation.

Alternative scenario: if the price breaks out through the 1.3321 resistance level and consolidates above, the bullish scenario will likely resume.

News feed for 2021.12.16:

– UK Manufacturing PMI (m/m) at 11:30 (GMT+2);
– UK Services PMI (m/m) at 11:30 (GMT+2);
– UK BoE Interest Rate Decision at 14:00 (GMT+2);
– UK BoE Monetary Policy Statement at 14:00 (GMT+2).

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 113.65
Prev Close: 114.05
% chg. over the last day: +0.35%

Japan’s manufacturing PMI index showed a decline in November (54.2 vs. 54.5 in the previous month). The situation with the Japanese Yen remains the same. Against the background of a large-scale economic stimulation by the central bank of Japan, the fundamental outlook for the yen looks gloomy. Yesterday, the US Federal Reserve announced that it would accelerate the reduction of the QE program, which will result in the dollar index strengthening and the growth of the USD/JPY quotes in the mid-term.

Trading recommendations

Support levels: 113.94, 113.30, 112.62, 112.30
Resistance levels: 114.17, 115.15, 115.50

The global trend on the USD/JPY currency pair is bearish. However, the pressure of buyers is slowly increasing, and the price is approaching the priority change level. Under such market conditions, traders are better to look for sell positions from the priority change level, but with additional confirmation. Buy positions should be considered from the lower border of the corridor, but with additional confirmation in the form of a buyers’ initiative or after the price breakout of the priority change level.

Alternative scenario: if the price rises above 114.17, the uptrend will likely resume.

News feed for 2021.12.16:

– Japan Manufacturing PMI (m/m) at 02:30 (GMT+2).

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.2860
Prev Close: 1.2831
% chg. over the last day: -0.22%

In November, Canada’s annual inflation rate was unchanged at 4.7%, remaining at an 18-year high. The key driver of inflation was again gasoline prices, which increased by 43.6% compared to the same month a year earlier. Core inflation (which excludes food and gasoline prices) was 2.7% in annual terms; it’s a 30-year record high. Bank of Canada Governor Tiff Macklem said yesterday that the Bank of Canada might move to a more “patient” state about raising interest rates under certain circumstances. Macklem gave more detail on the new central bank orders, which include some freedom of action, allowing inflation to exceed the target indicator of the Central Bank at 2%.

Trading recommendations

Support levels: 1.2828, 1.2776, 1.2721, 1.2677, 1.2638
Resistance levels: 1.2891, 1.2951

From a technical point of view, the USD/CAD currency pair trend is bullish. The MACD indicator is positive, but there are signs of divergence. Under such market conditions, it is better to look for buy deals from the support levels near the moving average. It is best to look for sell deals from the false breakout area, but with additional confirmation.

Alternative scenario: if the price breaks down through the 1.2721 support level and fixes below, the downtrend will likely resume.

There is no news feed for today.

by JustForex

Financial News Forex and Currency News

15 Dec

Forex Technical Analysis & Forecast 15.12.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has completed another descending wave at 1.1260; right now, it is consolidating around this level. Possibly, the pair may break the range to the downside and reach 1.1210. Later, the market may start a new correction towards 1.1270 and then resume trading downwards with the target at 1.1180.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is forming a new consolidation range around 1.3230. Today, the pair may resume falling towards 1.3183. Later, the market may correct to return to 1.3230 and then resume trading downwards with the target at 1.3146.

USDRUB, “US Dollar vs Russian Ruble”

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming a narrow consolidation range around 113.55. Possibly, today the pair may break the range to the upside and reach 114.05. Later, the market may start a new correction towards 113.30 and then resume trading upwards with the target at 114.55.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9229 without any particular direction. Possibly, the pair may break this range to the upside and resume growing towards 0.9286. Later, the market may correct to reach 0.9233 and then form one more ascending structure with the target at 0.9350.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken 0.7125; right now, it is still falling towards 0.7070. Later, the market may correct to return to 0.7125 and then resume trading downwards with the target at 0.7060.

BRENT

Brent is still correcting; it has already reached 72.70. Possibly, today the asset may grow towards 75.25. Later, the market may start a new decline to reach 72.00 and then form one more ascending structure with the short-term target at 78.00.

XAUUSD, “Gold vs US Dollar”

Gold has broken 1778.40 to the downside. Possibly, the metal may form one more correctional structure towards 1764.50. After that, the instrument may start another growth to break 1780.00 and then continue trading upwards with the target at 1800.00.

S&P 500

After breaking 4660.0 and then reaching 4610.0, the S&P index is expected to grow and return to 4660.0. Later, the market may break this level and form one more ascending wave with the target at 4750.0.

Article By RoboForex.com

Financial News Forex and Currency News

Risk Disclosure: Foreign Currency trading and trading on margin carries a high level of risk and can result in loss of part or all of your investment. Due to the level of risk and market volatility, Foreign Currency trading may not be suitable for all investors and you should not invest money you cannot afford to lose. Before deciding to invest in the foreign currency exchange market you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with foreign currency exchange trading, and seek advice from an independent financial advisor should you have any doubts.

All information and opinions on this website are for general informational purposes only and do not constitute investment advice.