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  • How deep may pound dip? – FBS

    The pound has slumped against other major currencies amid fears over the no-Brexit deal. More details have recently come out over EU-UK tensions. Let’s get into them straight away. What happened? The European Commission claimed on Thursday that it would give a deadline up to the end of September to the United Kingdom to back out the ...
  • Good news for Alibaba – FBS

    Alibaba’s affiliate Ant company may become the largest IPO not only now, but also in the entire history. Let’s discuss what it may mean for traders. What is Ant? Jack Ma founded both Ant Group and Alibaba, the latter has a 33% stake in the fintech firm. Ant Group, or, as it is sometimes called, Alibaba’s fintech ...
  • Brexit dead end: GBP sharply dropped – FBS

    What happened? Firstly, the British PMI exceeded all expectations. It turned out 55.3 for Manufacturing PMI and 60.1 for Services. Moreover, earlier the EU PMI came out worse than anticipated: Manufacturing PMI – 51.7 and Services PMI – 50.1 vs expected 52.7 and 54.6, respectively. Positive British and negative European economic indicators led to an enormous ...
  • EUR/USD stabilized below 1.1950 – FBS

    The most traded pair takes a breath after reaching levels unseen since May of 2018. It has been rallying for 7 days in a row and eventually broke through the significant resistance at 1.1900. It was a strong sign for most traders. However, profit-takers entered the market and pushed the pair slightly down. Nevertheless, bulls ...
  • South African Rand is boosted by risk-on mood – FBS

    Goldman Sachs claims the ZAR may rise further, if global markets keep rallying. Let’s discuss it in detail. Fundamentals The South African Rand has depreciated a lot during the coronavirus pandemic. Indeed, the emerging economy was struggling from many different problems. The virus spread made things even more complicated. The rand has even become one of the ...
  • GBP: gaining versus others currencies – FBS

    Fundamentals The British pound surged higher amid the optimistic news of the upcoming Brexit agreement. Recently, David Frost, the chief EU-UK negotiator, claimed that the deal may be done in September. Just to remind you, the deadline is scheduled for December 31. Meanwhile, it’s always the EU, which makes final decisions. The UK had already broken ...
  • Bullish Euphoria for US Equities – FBS

    Forex Market Analysis Ichimoku Kinko Hyo CHF/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum. Fibonacci Levels XAU/USD: Gold is trading on the key point of 38.2% retracement. It seems that a correction is still taking place. US Market View US stocks are set to ...
  • AUD jumped after job data – FBS

    AUD approaches the strong resistance at 0.7185. What may happen next? Fundamental overview Today Australia reported that 114 700 its citizens found jobs in July. That numbers beat all estimates, as analysts anticipated only 30 000. Analysts may set such a low forecast because Australia was suffering from the fresh virus resurgence, especially its state Victoria. Australian ...
  • EUR/USD: trading sideways – FBS

    The pair bounced off the key resistance at 1.1900. All eyes on the NFP. Fundamentals The overall trend of EUR/USD has been bullish since the middle of March. The main reason for that rally has been the weak greenback. Why does the USD continue dipping? Firstly, investors avoid it as yields are decreasing in the USA. Secondly, ...
  • GBP/USD looks persistent – FBS

    Forex Market Analysis: GBP/USD formed a pin bar with a long lower shadow. This may mean that buyers are ready to resume the uptrend – a least to make the price test the recent high near 1.3160. We would pick the 1.3110 mark for entering a buy trade. Support levels lie at 1.3050 and 1.3000. Trade ...
  • EUR/USD: bearish prospects – FBS

    Some analysts believe the euro will lose its gains in the third quarter. What are the reasons? Indeed, EUR/USD has shown the best performance for almost a decade. It managed to surge from 1.1200 to 1.1900 during July. However, economists from Danske Bank foresee the pair to retest 1.1200 again. Why did EUR/USD rise? Firstly, the better-than-expected EU ...
  • PEPSICO stock: going steady – FBS

    The long-term picture is pretty clear for the Pepsi stock. Over the 10-year run, it has been consistently increasing in value. It left 2010 with $60 per share and reached its all-time high at the very beginning of 2020. There were turbulent periods, especially in 2019. However, nothing seemed to be able to kick this stock ...
  • USD/CNH: falling down – FBS

    The pair has broken down two strong supports. What’s next? Fundamentals The US dollar is loosening against the Chinese yuan. There are some obvious reasons for that movement. The first reason is the weak US dollar as the USA is suffering from the record resurgence in new cases. Investors are questioning its future economic recovery. The second reason is that, unlike the USA, ...
  • Gilead rose after it priced remdesivir – FBS

    What happened? Gilead Sciences has priced this Monday its coronavirus-fighting drug – remdesivir. The price will depend on the buyer. For example, the US government will have to pay $2 340 for a 5-day course of the drug, US private insurance companies – $3 120. Also, they will significantly cut prices to nearly $500 for developing ...
  • GBP/USD looks persistent – FBS

    Forex Market Analysis: GBP/USD formed a pin bar with a long lower shadow. This may mean that buyers are ready to resume the uptrend – a least to make the price test the recent high near 1.3160. We would pick the 1.3110 mark for entering a buy trade. Support levels lie at 1.3050 and 1.3000. Trade ...
  • Downside target for USD/CAD – FBS

    Forex Market Analysis: USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips. The pair closed below the April-May support line and the 50% Fibo retracement of the 2019-2020 advance. As you may see on the chart, the price broke out of the consolidation range within which it had ...
  • Trade Signals: GBP/AUD: bearish reversal – FBS

    Forex Market Analysis: GBP/AUD has breached the support line from August 2019. What is happening at the chart looks like a pretty big change. The bullish trend is reversing down. On Thursday, the pair closed below the 100-day MA at 1.9450 and this level will act as resistance. The further resistance levels lie at 1.9600 ...
  • Trade Signals: Technical levels for GBP/USD – FBS

    The movement in GBP/USD hasn’t started yet, but it surely will. For now the pair’s consolidating in the 1.2390/1.2295 area. The upside is limited by the short-term resistance line since April 15. Support is provided by the 200-period MA on the H4. A break below it will lead the price down to 1.2170 and 1.2030 ...
  • Trade Signals: NZD/USD is pulling down – FBS

    Forex Trade Signals: NZD/USD may be on the verge of breaking to lower levels. The pair formed a doji candlestick with a long upper shadow on the D1 – this is a bearish sign. The declining 50-day MA is capping the prices at 0.6110. On the H4, we see that the price has made a ...
  • EUR/USD has breached support – FBS

    EUR/USD had been testing the support line connecting March and April lows. On Thursday, the pair slipped below this line. The following retest of 1.0880 provided resistance and made the price turn down. Currently we are witnessing a kind of a “Falling three” pattern on the H4 chart. A close below 1.0815 will open the ...
  • Trade Signals: GBP-three factors – FBS

    Technicals Strategically, the British pound is slowly sliding down against the USD. If we were to take into account only the performance of 2018-2019, it would look even sideways within the range of 1.2000 – 1.3334 (with the exception of the last virus-forced downswing). However, the larger picture suggests a gradual downward movement. It is reflected by the ...
  • USD/JPY is pressured by resistance – FBS

    Forex Analysis: USD/JPY has declined from 111.70 and went into consolidation around 107.50. On the D1, we can see that yesterday’s attempt of bulls to bring the price higher failed: the candlestick has a long upper wick and closed below all the key daily moving averages. The United States will release ISM Manufacturing PMI at 17:00 ...
  • Trade Signals: STOCKS – mystery ahead FBS

    Biology The virus spread is probably going through its toughest phase in Europe and the US, and its good news. Although the numbers of mortal cases being at their highest rates in Spain and Italy scream with human astonishment, both countries report that the expansion halted its dynamic. Statistically, that means the curve of the infected ...
  • GBP/USD: outlook remains bearish – FBS

    In the current financial turmoil, the British pound doesn’t look like the currency of choice. At least, not versus the US dollar or the Japanese yen. GBP/USD retraced more than 78.6% Fibonacci of the 2019 advance. Last week was the worst for the pair since the Brexit referendum. Despite the fact that the pair is oversold ...
  • USD/JPY tries to recover – FBS

    After testing the lowest levels since 2016 in the 101.18 area earlier this week, USD/JPY turned up and returned above 105.00. On the H4, the pair formed a higher low and rose above the 50-period MA. Japan announced the unscheduled purchase of 200 billion yen ($1.90 billion) in government debt. The news has weakened the yen. USD/JPY ...
  • EUR/CAD: correction time? – FBS

    After opening the week with a gap up, EUR/CAD formed two inside bars on the D1. This is the sign that the advance has run out of steam. The pair is awaiting the actions and comments of the European Central Bank. The ECB will announce its policy changes at 14:45 MT time and hold a ...
  • USD/CHF: levels for trading – FBS

    The decline of USD/CHF from February highs to March lows was epic. The pair reached support at 0.9185 (2018 low) and turned up on the W1 (notice that the reversal candlestick at this timeframe still hasn’t been formed) and the D1. The next obstacles on the upside lie in the 0.9400/15 area and at 0.9440 ...
  • Key levels for EUR/USD ahead of NFP – FBS

    EUR/USD has reached December high at 1.1240 and is actively testing levels above it. The picture at the chart changes very fast. Traders don’t really like the USD at the moment, so the pair will easily get to 1.1295 (the line connecting October and December highs). There it will likely meet some resistance ahead of ...
  • PEPSICO stock: going steady – FBS

    The long-term picture is pretty clear for the Pepsi stock. Over the 10-year run, it has been consistently increasing in value. It left 2010 with $60 per share and reached its all-time high at the very beginning of 2020. There were turbulent periods, especially in 2019. However, nothing seemed to be able to kick this stock ...
  • USD/JPY: changing platforms – FBS

    Seasons After devastating March and humiliating April, May’s recovery brought hopes, positivism, and optimism to the markets. We can see that the USD has been gaining value against the safe-haven JPY almost the entire month. There was a pause at stage 2 after a shaky upswing at stage 1, then stage 3 followed with a spectacular ...
  • AUD: going pre-crisis – FBS

    Technical This week, the AUD has been one of the strongest currencies on the Forex market. Currently, it is at pre-crisis levels against the JPY and the USD. Trading this high, it is testing the long-term downtrends at 0.7000 for the AUD/USD and 76.00 for the AUD/JPY. The question is, even if it does break it, ...
  • Currencies, oil and gold: a brighter picture – FBS

    Focus of the week: currencies, oil & gold The market keeps fighting through uneasy times. Today, however, the picture seems to be sunnier than at the beginning of the week. Currency table is relatively balanced in favor of the US dollar, the oil and gold prices made a step up. Currencies Strategic uncertainty supports the US dollar, ...
  • GOLD: back to indifference – FBS

    Defying the natural On the daily chart, we see gold behaving in a very strange way. In December-January, when the US-China trade agreement was announced to be sealed and was finally signed, it was rising (what?). When the virus struck and went “wild” in January-February, gold barely moved a finger (again, what?). That’s not an exaggeration ...
  • 3 stocks that did not back down to the virus – FBS

    Walmart: standing tall: While a number of stocks lost up to 50% of their value because of the coronavirus, Walmart, although going through obvious turbulence, did significantly better than 99% of its peers. Ironically enough, its performance in 2020 is +1%. Under normal market conditions, it would hardly be a reason to brag. But when the ...
  • NZD/CAD: another bearish candidate – FBS

    Key indicators: Performance in 2020: -5%, Last day range: 0.8257 – 0.8482, 52-week range: 0.8015 – 0.9281 What’s happening? NZD/CAD trades at 0.8349, testing the lows of Summer-2019, -2018, and -2015. The support for all is at 0.8237. Crossing this strategic threshold paves the way to the 7-year low of 0.8032. Given the current situation for the NZD and ...
  • USD/CHF: two-year lows – FBS

    Key indicators: Performance in 2020: -0.8%, Last day range: 0.9550 – 0.9584, 52-week range: 0.9520 – 1.0236 What’s happening? The USD dropped to its two-year lows against the Swiss franc. 0.9577, where it is now, was last visited by the USD/CHF in March 2018. That doesn’t change much in historical terms (this level is an average the currency has ...
  • EUR: another winner in the field – FBS

    Key indicators: Performance in 2020: -0.6%, Last day range: 1.1037 – 1.1184, 52-week range: 1.0780-1.1515 Euro’s winning spree: The euro has been in decline against the US dollar since the very beginning of 2018. That means, for more than two years. Now, this long-term trend is put to a test. Who would know that it would be Coronavirus that ...
  • JPY: Forex reconquest – take two – FBS

    Key indicators: Last day range: 107.36 – 108.37, 52-week range: 104.43 – 112.40 What’s happening? We have spoken about the JPY’s return already, and now we need to speak of it again. Why? Look at the chart. There is hardly any other currency on the Forex market against which the USD lost so much value in the last weeks. The ...
  • JPY: the Forex market reconquest – FBS

    Key indicators: Performance in 2020: +2.4%, Last day range: 109.55 – 110.44, 52-week range: 104.46 – 112.40 Yellow-zone alert: Now that the Coronavirus is reducing its pace of expansion inside China and increasing its conquest globally, the markets woke up to the probability of having it at a pandemic level. The USD is no longer a bastion of safety as ...
  • Why did gold turn down? And did it really? – FBS

    XAU/USD is consolidating after spiking to the 7-year high at $1,689. If we compare the current price action on the D1 with what was seen in January (the price spiked up and then consolidated without declining much), we’ll see that there are more candlesticks with long upper shadows – a sign that there are sellers ...
  • Technical Analysis AUD/USD: 11-year lows – FBS

    Key indicators: Performance in 2020: -6%, Last day range: 0.6582 – 0.6620, 52-week range: 0.6582 – 0.7203 Go strategic: Rarely a monthly chart adds much value to short- and mid-term assessments of a currency pair performance. But not this time. Currently, the AUD/USD is at 0.6617. The last time it has been this low was March 2009. 11-year low! That ...
  • NZD/JPY: Three Swings – FBS

    Sudden beauty: Rarely can you see such a symmetric cascade of several swings presented by a currency price. NZD/JPY seems to be in a moment of indecisiveness between the support of 70.000 and resistance 71.300. Fundamentals: As you can see, this wavy sideways movement has started at the beginning of February – that’s when, instead of seeing the ...
  • How deep may pound dip? – FBS

    The pound has slumped against other major currencies amid fears over the no-Brexit deal. More details have recently come out over EU-UK tensions. Let’s get into them straight away. What happened? The European Commission claimed on Thursday that it would give a deadline up to the end of September to the United Kingdom to back out the ...
  • Good news for Alibaba – FBS

    Alibaba’s affiliate Ant company may become the largest IPO not only now, but also in the entire history. Let’s discuss what it may mean for traders. What is Ant? Jack Ma founded both Ant Group and Alibaba, the latter has a 33% stake in the fintech firm. Ant Group, or, as it is sometimes called, Alibaba’s fintech ...
  • Brexit dead end: GBP sharply dropped – FBS

    What happened? Firstly, the British PMI exceeded all expectations. It turned out 55.3 for Manufacturing PMI and 60.1 for Services. Moreover, earlier the EU PMI came out worse than anticipated: Manufacturing PMI – 51.7 and Services PMI – 50.1 vs expected 52.7 and 54.6, respectively. Positive British and negative European economic indicators led to an enormous ...
  • EUR/USD stabilized below 1.1950 – FBS

    The most traded pair takes a breath after reaching levels unseen since May of 2018. It has been rallying for 7 days in a row and eventually broke through the significant resistance at 1.1900. It was a strong sign for most traders. However, profit-takers entered the market and pushed the pair slightly down. Nevertheless, bulls ...
  • South African Rand is boosted by risk-on mood – FBS

    Goldman Sachs claims the ZAR may rise further, if global markets keep rallying. Let’s discuss it in detail. Fundamentals The South African Rand has depreciated a lot during the coronavirus pandemic. Indeed, the emerging economy was struggling from many different problems. The virus spread made things even more complicated. The rand has even become one of the ...
  • GBP: gaining versus others currencies – FBS

    Fundamentals The British pound surged higher amid the optimistic news of the upcoming Brexit agreement. Recently, David Frost, the chief EU-UK negotiator, claimed that the deal may be done in September. Just to remind you, the deadline is scheduled for December 31. Meanwhile, it’s always the EU, which makes final decisions. The UK had already broken ...
  • Bullish Euphoria for US Equities – FBS

    Forex Market Analysis Ichimoku Kinko Hyo CHF/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum. Fibonacci Levels XAU/USD: Gold is trading on the key point of 38.2% retracement. It seems that a correction is still taking place. US Market View US stocks are set to ...
  • AUD jumped after job data – FBS

    AUD approaches the strong resistance at 0.7185. What may happen next? Fundamental overview Today Australia reported that 114 700 its citizens found jobs in July. That numbers beat all estimates, as analysts anticipated only 30 000. Analysts may set such a low forecast because Australia was suffering from the fresh virus resurgence, especially its state Victoria. Australian ...
  • EUR/USD: trading sideways – FBS

    The pair bounced off the key resistance at 1.1900. All eyes on the NFP. Fundamentals The overall trend of EUR/USD has been bullish since the middle of March. The main reason for that rally has been the weak greenback. Why does the USD continue dipping? Firstly, investors avoid it as yields are decreasing in the USA. Secondly, ...
  • EUR/USD: bearish prospects – FBS

    Some analysts believe the euro will lose its gains in the third quarter. What are the reasons? Indeed, EUR/USD has shown the best performance for almost a decade. It managed to surge from 1.1200 to 1.1900 during July. However, economists from Danske Bank foresee the pair to retest 1.1200 again. Why did EUR/USD rise? Firstly, the better-than-expected EU ...
  • USD/CNH: falling down – FBS

    The pair has broken down two strong supports. What’s next? Fundamentals The US dollar is loosening against the Chinese yuan. There are some obvious reasons for that movement. The first reason is the weak US dollar as the USA is suffering from the record resurgence in new cases. Investors are questioning its future economic recovery. The second reason is that, unlike the USA, ...
  • Gilead rose after it priced remdesivir – FBS

    What happened? Gilead Sciences has priced this Monday its coronavirus-fighting drug – remdesivir. The price will depend on the buyer. For example, the US government will have to pay $2 340 for a 5-day course of the drug, US private insurance companies – $3 120. Also, they will significantly cut prices to nearly $500 for developing ...
  • Nasdaq: momentum is strongly upwards – FBS

    Nasdaq may reach new highs soon. Get ready with us! Fundamental outlook The coronavirus pandemic was devastating for service, tourism and hospitality industries. In opposite, it turned out beneficial for tech companies. The lockdown restrictions forced people to stay at home and binge-watch Netflix, order online home deliveries through Amazon and even work remotely and use cloud services and Microsoft’s Teams video-conferencing ...
  • How Lagarde’s speech will affect EUR? – FBS

    The ECB’s president Christine Lagarde warned about the complicated economic recovery. Bears got stronger. Summary of Lagarde’s report The head of the ECB claimed that “the recovery will be incomplete and may be transformational”. She emphasized that the return to pre-crisis levels is unlikely to happen soon. It will be especially hard for airline, hospitality and entertainment industries to ...