Forecasts and analysis from Alpari

Previous: On Thursday the 31st of May, trading on the EURUSD pair closed slightly up. Despite the fact that the euro dropped to 1.1641, it managed to recover to 1.1700 by the end of the session. This recovery was the result of reduced pressure on the single currency. Giuseppe Conte is set to be swor...

Previous: On Wednesday the 30th of May, trading on the EURUSD pair closed up. On the back of some correctional movement on the US dollar, the single currency managed to return to 1.1647, after which a new wave of sales began. After reaching 1.1595, the rate shot up to 1.1676. A change in trader sent...

Today's pressEuro bounces off 10-month lows as Italy tries to end turmoil LONDON (Reuters) - The euro recovered on Wednesday from 10-month lows after reports that Italy’s biggest party would make a renewed attempt to form a coalition government and end months of political turmoil.U.S. first-quarter....

Previous: On Tuesday the 29th of May, trading on the euro closed down once again. This makes it 23 bearish candlesticks since the 17th of April. The euro is under pressure from a broadly resurgent US dollar as well as increased political risks in Italy and Spain. During trading in Europe, the pair d...

Today's pressEuro falls to 10-month low after Italy debt selloff LONDON (Reuters) - The euro fell on Tuesday to a 10-month low after a selloff in Italy’s debt market drove investors to dump the single currency.U.S. to continue trade actions against China: White House WASHINGTON (Reuters) - The Unit....

GBPJPY has been on our radar for a while now. We were expecting the price to drop and that is exactly what is happening. This provides us with a very nice technical setup. The price has broken all major supports and is currently in freefall mode; on its way back to the long-term downtrend. Potentia....

Previous: On Monday the 28th of May, trading on the single currency closed down. It dropped to 1.1607 during the European session. Market volatility subsided during the US session Due to the fact that both the US and Canada has public holidays. Buyers, taking advantage of the off day in the US, mana...

Today's pressItalian concerns knock stocks, euro off early highs LONDON (Reuters) - European stocks gave up early gains and bond yields recovered from lows as early elections loomed in Italy after the anti-establishment 5-Star and League parties abandoned plans to form a government.China rejects U.....

Previous: On Friday the 25th of May, trading on the EURUSD pair closed down. The single currency’s decline was brought about by political tensions both in Italy and Spain as well as the greenback’s broad ascent, which happened in spite of a decline in US10Y bond yields. Bond yields went down to 2.92...

We’ve finally got a decent correction on oil. WTI is going down for the fourth day in a row and in the meantime, the price broke the lower line of the channel up formation and the mid-term upwards trend line. The next target for this drop is the horizontal support at 66.1 USD/bbl. The second commod....

The first one is GBPJPY, which is giving us a super strong long-term sell signal. The pair has already broken all major supports and now is testing the closest one as a resistance. First contact was bearish, but it seems that we will have another test soon. A double top at such an important level c....

Previous: On Wednesday the 23rd of May, trading on the euro closed down. US President Donald Trump was the main newsmaker for financial exchanges yesterday. He said that he wasn’t satisfied with how trade negotiations were going between the US and China and warned that his planned summit with North ...

Today's pressU.S.-China trade deal 'too hard to get done,' Trump says WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday signaled a new direction in U.S. and China’s trade talks, saying the current track appeared “too hard to get done” and that any possible deal needed “a different str....

Apparently, traders didn’t like the PMI data from the Eurozone. The main pair suffered, slipping to its lowest levels in 2018. Buyers are still fighting for the support, which already worked two days ago. This could be a great place for a double bottom formation but for a proper buy signal, we will....

Today's pressWall Street rises at open as U.S.-China trade talks progress (Reuters) - Wall Street opened higher for the second straight day on Tuesday, boosted by gains in tech stocks as trade talks between the United States and China gained momentum.Bank of England rate comments lift sterling to o....

The mid-term positive sentiment for the USD is over, now it’s time for some reversals. One of the best setups can be seen on the EURUSD pair, where the price is bouncing from the 38.2% Fibonacci, creating a daily hammer and an inverse head and shoulders pattern on the H1 chart. Sometimes you wait f....

Previous: On Monday the 21st of May, trading on the euro closed up. At the beginning of the European session, the single currency dropped to 1.1717 before rebounding. The euro initially rose against the dollar to 1.1779 and climbed further to 1.1796 during the US session. The euro fluctuated on the ...

Today's pressChina relieved, U.S. business ambivalent over easing of trade tensions BEIJING (Reuters) - China’s government on Monday praised a significant cooling of trade tensions with the United States, saying agreement was in both nations’ interests while state media trumpeted what it saw as Bei....

Previous: Last week, all the major currencies expect for the Swiss franc declined against the US dollar. The single currency was the biggest loser, shedding -1.42%. On Friday, the euro dropped to 1.1750 against the greenback after an unsuccessful attempt at exiting the triangle. The price reversed d...

We start with the EURUSD, which is in a legitimate downtrend. The price is making lower lows and highs and is trading below a very clean downwards trend line. Most recently, the price has created a pennant and is currently trying to break its lower line. Better data should definitely help here. Nex....

Since the middle of the April, the Cable has lost nearly 800 pips. What a drop! The first signs are starting to emerge that this could be too much and now there’s time for some take profit action. GBPUSD reached a combination of two super important supports: the long-term upwards trend line and the....

Previous: On Wednesday the 2nd of May, trading on the euro closed down. The single currency has shed 146 pips against the greenback over the May holidays to reach 1.1938. The pair went on a rollercoaster ride following the US Federal Reserve’s interest rate decision. The FOMC decided to maintain its...

Today's pressNorth and South Korean leaders promise 'lasting peace' for peninsula The leaders of North and South Korea have promised after a landmark summit to bring “lasting peace” to the peninsula with a commitment to denuclearisation and to ending decades of hostilities.U.S. economy slows in fir....

Previous: On Thursday the 26th of April, trading on the euro closed down against the US dollar. Sellers broke the support at 1.2115 (low from the 1st of March). Volatility on the pair was high throughout the European session. During Mario Draghi’s press conference, the euro recovered to 1.2210. This...

Today's pressConfident Draghi lifts euro to day's highs; yields dip LONDON (Reuters) - The euro held at the day’s highs on Thursday after ECB President Mario Draghi presented a relatively confident outlook for the euro zone economy, contrary to some expectations that he would take a more cautious s....

Today's pressFirm bond yields push dollar to 4-month high; euro struggles LONDON (Reuters) - The dollar hit a four-month high on Wednesday after a rise in benchmark U.S. Treasury yields above 3 percent rattled some currency bears and led investors to consider whether the greenback was breaking out ....

Previous: On Tuesday the 24th of April, trading on the euro closed up, breaking its 3-day losing streak. The main factor behind the euro’s rise was the US dollar’s universal decline. As the market underwent a technical correction, participants ignored the positive US housing and consumer confidence ...

Today's pressTreasury 10-Year Yield Tops 3% for First Time Since January 2014 The 10-year U.S. Treasury yield rose above 3 percent for the first time since January 2014, snapping out of a months-long trading range amid an onslaught of supply and a Federal Reserve intent on boosting interest rates.U....

Previous: On Monday the 23rd of April, trading on the US dollar closed up. After weak manufacturing data from the Eurozone, as well as a rise in US10Y bond yields providing support to the dollar, the single currency dropped from 1.2289 to 1.2185. In addition to being bolstered by the debt market, th...

Today's pressPound sterling falls to five week low against US dollar as GDP and Brexit pressures increase The pound fell to a five-week low against the dollar on Monday morning, continuing the downward momentum seen last week off the back of worse than expected economic data.With test freeze, North....