Markets enjoy the weakness of the dollar

Eurozone Strong growth in business activity in the euro zone confirms the correctness of the policy chosen by the ECB. According to IHS Markit, composite PMI in November was 57.5 points, which significantly exceeded forecasts, with the index at a...

Global macro overview for 23/11/2017

The October FOMC Meeting Minutes overall report reflected recent comments by Fed members and did not point to any significant change in attitudes. Most of the members are in favor of raising interest rates in the near future, signaling their...

Global macro overview for 23/11/2017

According to the Second GDP Estimate data, in the past quarter, the UK economy grew at an annual rate of 1.5%. Those are the results from more detailed national accounts, which confirm the preliminary estimates provided by the Office for...

Bitcoin analysis for November 23, 2017

The Bitcoin (BTC) has been trading sideways at the price of $8.125. In order “to prevent the abuse of the system for criminal and unlawful activities and ensuring the stability and integrity of the financial system,” Bank Negara Malaysia Governor...

USD/JPY analysis for November 23, 2017

Recently, the USD/JPY pair has been trading downwards. As I expected, the price tested the level of 111.06. According to the 30M time – frame, I found that price is trading below the pivot level at the price of 111.61....

Bitcoin analysis for 23/11/2017

According to Wall Street Journal, JP Morgan Chase is considering launching its Chicago Mercantile Exchange (CME) futures platform on Bitcoins. This statement was issued last week and raised the Bitcoin price to a record high of over $ 8,300. According...

Trading plan for 23/11/2017

After Wednesday’s poorly received FOMC dovish statement, the financial market today fell asleep in the wake of the holiday in Japan and later in the US. USD / JPY closed the session in the US at 111.20 and since then...

NZD/USD Intraday technical levels and trading recommendations for November 23, 2017

Daily Outlook A recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart. This resulted in a quick bullish advance towards next price zones around 0.7150-0.7230...

Intraday technical levels and trading recommendations for EUR/USD for November 23, 2017

Monthly Outlook In January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450. In March 2015, EUR/USD bears...

Elliott wave analysis of EUR/NZD for November 23, 2017

Wave summary: We continue to look for a break below support at 1.7100 to confirm that a deeper correction in wave ii towards 1.6619 is developing. Short-term resistance is seen at 1.7237 and again at 1.7300. The later will ideally...