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British inflation at 5-1/2-year high in September, rate hike on track
Today's pressBritish inflation at 5-1/2-year high in September, rate hike on track LONDON (Reuters) - British inflation rose to its highest level in more than five years in September, official data showed on Tuesday, adding to the likelihood that the Bank of England will raise interest rates next m....
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Australian dollar and the Fed
The Australian dollar is directionless today after 2 days of movement, but may have received some new found support after doubts one again hang over the US Federal Reserve’s ability to lift interest rates this year. Inflation numbers once again hit the market below expectations and still sit well be...
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Daily analytical report (17/10/17)
USDMXN. We can see the first signs of the exhaustion here. After breaking the upper line of the triangle, the price surged higher. Now we are approaching the 38.2% Fibonacci where we may see some profit taking action from buyers. That resistance is additionally strengthened by the highs from March,....
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EURUSD dropping perfectly as expected, turn bullish with a change in conditions
Buy above 1.1781. Stop loss at 1.1709. Take profit at 1.1878.   Reason for the trading strategy (technically): Price has continued its drop perfectly towards our profit target. We now turn bullish due to the changing elements we are seeing. We look to buy above major support at 1.1781 (Fibonacci ret...
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EURJPY testing major support, remain bullish
Buy above 131.90. Stop loss at 131.12. Take profit at 133.42.   Reason for the trading strategy (technically): Price has dropped strongly to our buying area. We look to buy above major support at 131.90 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a bounce up to at le...
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NZDUSD approaching major resistance, prepare to sell
Sell below 0.7245. Stop loss at 0.7351. Take profit at 0.7095.   Reason for the trading strategy (technically): Price is approaching major resistance at 0.7245 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction off that level for a push down to at least 0.7...
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AUDUSD dropping perfectly as expected, remain bearish
Sell below 0.7891. Stop loss at 0.7955. Take profit at 0.7789.   Reason for the trading strategy (technically): Price is dropping perfectly as expected from our selling area. We remain bearish looking to sell below major resistance at 0.7891 (Multiple Fibonacci retracement, bearish price action) for...
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USDJPY dropping nicely, remain bearish
Sell below 112.65. Stop loss at 113.51. Take profit at 110.90.   Reason for the trading strategy (technically): Price continues to drop nicely towards our profit target.   We’re still bearish on this move and we need to wait for price to make a retracement towards our sell entry before we take anot...
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AUDJPY remain bullish for a bounce
Buy above 87.92. Stop loss at 87.20. Take profit at 88.85.   Reason for the trading strategy (technically): Price continues to test our buying area and is starting to bounce nicely. We remain bullish looking to buy above 87.92 support (Fibonacci retracement, horizontal overlap support, bullish exit)...
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EURUSD: price approaching the neckline
On Monday the 16th of October, trading on the euro/dollar pair closed slightly down. The pair spent most of its time in a sideways trend. After dropping to 1.1781, the euro recovered its lost ground to reach 1.1819. Still, the price didn’t make it to the balance line, which at that point ran throug....
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BTCUSD: 6,000 USD likely to be tested before hardfork
BTCUSD: 6,000 USD likely to be tested before hardfork
The previous review on the BTCUSD daily chart was on the 6th of October. This was a continuation of the idea on the 3rd of October. At the time, with the price at 4,420 USD, I was expecting the bitcoin to fall against the dollar to around 3,995 USD, which would have marked around 50% of the upwards....
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EURUSD: expect the price to recover to the LB balance line on Monday
EURUSD: expect the price to recover to the LB balance line on Monday
Previous: On Friday the 13th of October, trading on the euro/dollar pair closed down. The day’s session turned out quite volatile due to the publication of September’s figures for consumer inflation and retail sales in the US, which came out worse than expected. The euro surged 70 pips on this weak ...
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'Massive Disruption': IMF's Lagarde Says Cryptocurrencies Must Be Taken Seriously
Today's press'Massive Disruption': IMF's Lagarde Says Cryptocurrencies Must Be Taken Seriously Christine Lagarde, managing director of the international monetary fund (IMF), has warned that central banks and financial services need to pay closer attention to cryptocurrencies.IMF urges euro zone to ....
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Daily analytical report (13/10/17)
CPI and retail sales; these are two statistics that the market currently awaiting. We’ll learn about these soon enough, but first, let’s look at some potential trading opportunities. Gold is producing a possibly very strong bearish reversal pattern. We are about to make a double top formation on a ....
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Gold technical review 22
Gold technical review 22
As we said yesterday, the possibility that gold would run into resistance at the $1,300 level has eventuated but the overall picture looks good so far in today’s trading as the price has remained above yesterdays close. We think that it may take a couple of trading sessions to finally break back thr...
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EURUSD dropping perfectly, prepare to sell on the break of support
Sell below 1.1832. Stop loss at 1.1888. Take profit at 1.1752. Reason for the trading strategy (technically): Price dropped perfectly from our selling area yesterday. The goal today is to look to sell on the break of our major support at 1.1832 (Fibonacci retracement, horizontal overlap support) and...
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GBPUSD dropped perfectly, remain bearish
Sell below 1.3269. Stop loss at 1.3357. Take profit at 1.3032. Reason for the trading strategy (technically): Price plummeted from our resistance yesterday before bouncing back up again. We remain bearish looking to sell on major resistance at 1.3269 (Fibonacci retracement, horizontal overlap resist...
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NZDUSD testing major resistance, prepare to sell
Sell below 0.7146. Stop loss at 0.7216. Take profit at 0.7056. Reason for the trading strategy (technically): Price is now testing major resistance at 0.7146 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and we expect to see a strong reaction off this level to push pric...
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AUDUSD on major resistance, prepare to sell
Sell below 0.7834. Stop loss at 0.7872. Take profit at 0.7768. Reason for the trading strategy (technically): Price is testing major resistance at 0.7834 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction off this level to push price down to at least 0.7768...
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USDJPY remain bearish with key support broken
Sell below 112.65. Stop loss at 113.51. Take profit at 110.90. Reason for the trading strategy (technically): Price had broken our key support and is hovering below it. We remain bearish looking to sell on strength below 112.65 resistance (Fibonacci retracement, pullback resistance) for a drop towar...
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AUDJPY now on major resistance, time to turn bearish
Sell below 87.93. Stop loss at 88.43. Take profit at 86.66. Reason for the trading strategy (technically): We caught the rise on AUDJPY quite nicely yesterday. Today we’re starting to see it on major resistance (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong drop...
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EURUSD: drop to 1.1796 expected
EURUSD: drop to 1.1796 expected
Previous: On Thursday the 12th of October, trading on the euro/dollar currency pair closed down. The rate fell from 1.1880 to 1.1827. At the beginning of the European session, the euro dropped further as the dollar rose across the board. It then received some support from the euro/pound cross follow...
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$5,200: Bitcoin Buoyant as Price Sets New All-Time High
Today's press$5,200: Bitcoin Buoyant as Price Sets New All-Time High At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is trading at $5,200 levels. Week-on-week, BTC is up 18.75 percent, while month-on-month it's up 23 percent. The new record broke a previous all-time high of $5,013 se....
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Daily analytical report (12/10/17)
As expected, the FOMC had no major impact on the market but was enough to create a new bullish wave on gold. Here, a buy signal was created earlier when the price broke the upper line of the wedge formation. Before the FOMC, we were inside a bullish flag formation with higher chances of an upswing.....
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Pound drops on reports that Brexit talks have hit deadlock
The US dollar showed some mixed dynamics in Thursday’s European session. It’s made gains against the Swiss franc, Canadian dollar, and British pound, while losing ground against the Kiwi and Aussie dollars as well as the Japanese yen. The euro is trading slightly up against the greenback. When trad....
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Gold technical review 21
Gold technical review 21
The gold price in on track today to rack up its 5th straight day og gains and from a technical position we can see on the chart that in each of the previous 5 sesions, gold has nanaged to break through a previous, support or resistance level. As long a there is no sell off later in the trading sessi...
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EURUSD: pair ready for a downwards correction
EURUSD: pair ready for a downwards correction
Previous: On Wednesday the 11th of October, trading on the euro/dollar pair closed up. In the European session, the euro appreciated to 1.1845. In the US session, buyers advanced further to 1.1869. The single currency was boosted by a general weakening of the US dollar and a slide in US bond yields....
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EURUSD continues to rise strongly and is approaching major resistance, remain bearish
Sell below 1.1878. Stop loss at 1.1948. Take profit at 1.1529. Reason for the trading strategy (technically): We remain bearish with price testing two major Fibonacci retracement levels at 50% and 61.8% where we expect a reaction from. We adjust our stop loss to 1.1948 right above the gap to give th...
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GBPUSD close to major resistance, prepare to sell
Sell below 1.3269. Stop loss at 1.3357. Take profit at 1.3032. Reason for the trading strategy (technically): Price has continued to rise nicely to our major resistance area as expected. We prepare to sell on major resistance at 1.3269 (Fibonacci retracement, horizontal overlap resistance) and we ex...
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USDCHF testing major support, remain bullish
Buy above 0.9741. Stop loss at 0.9704. Take profit at 0.9809. Reason for the trading strategy (technically): Price has dropped further and is in a strong descending wedge formation. The plan is to go flat now and buy on the bullish exit of this formation. We look to buy on the bullish break of 0.974...
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