Market Commentary

EURUSD - Support at 1.13 Gives Way after Draghi Comments

on November 14, 2018 | By Stuart McPhee | EURUSD

In the last week the EURUSD has fallen strongly after reversing at the key 1.15 level which saw it trade to its lowest levels in 16 months. In doing so it moved through the reliable support level at 1.13 and this level is now likely to provide some resistance as the EURUSD attempts to regain some of the lost ground. In the week prior the EURUSD did well to surge higher off support at the key 1.13 level after having fallen strongly over the last few weeks from above 1.16. Only several weeks earlier the EURUSD fell strongly from multi month highs above 1.18 down to the key support level at 1.15.

Market Blast Video - 13.11.2018

on November 13, 2018 | By Brad Alexander | Market Blast Videos

We are still seeing a lot of volatility on BitCoin every few hours so be careful when setting up your positions.

We see a familiar pattern with this descending triangle on Ethereum so let’s watch for a break below to $198 or a bounce off support back to the $220’s.

The USD just keeps getting stronger against the Euro, the Swiss franc, the yen and the Loonie with Kiwi and Aussie going the other way.

USDCHF - Settles Above 1 as SNB Urges Patience

on November 13, 2018 | By Stuart McPhee | USDCHF

The USDCHF has moved very strongly in the last couple of months from a six months low below 0.9550 up to its highest levels in 18 months just above 1.01. In the last couple of weeks it has consolidated above the parity level enjoying some reasonable support from the 1 level. The first couple of weeks of its recent surge higher was quite pronounced as it moved strongly towards the key 1 level. For an extended period through June, July and August the USDCHF traded in a narrow range just below parity as it met stiff resistance from that level. The USDCHF did push through 1 for a short period reaching a 12 month high above 1.0050 around mid-July, which has recently been passed.

AUDUSD - Retreats from Six Week High as RBA Grows More Confident

on November 12, 2018 | By Stuart McPhee | AUDUSD

The AUDUSD has enjoyed a healthy surge higher in the last week or so before declining a little finish out last week from a new six week high above 0.73. Just prior to its surge higher the AUDUSD had been quite content to take a breather and enjoy solid support from 0.7050 as it has traded along that level for several weeks, although it did drop a little lower reaching a 2½ year low a few weeks ago. After meeting resistance there for several days, the AUDUSD had slowly but surely eased lower from the key 0.7150 level before resting on the support at 0.7050. The 0.7150 level has played a role in the last couple of months as it has bounced off this level several times, and may be called upon again should the AUDUSD continue to decline.

US30 - Meets Resistance at 26,200 Again as Fed Leaves Rates Unchanged

on November 9, 2018 | By Stuart McPhee | US30, DJIA

In the last couple of weeks the US30 index has enjoyed a strong resurgence moving from multi-month lows back up to the key 26,200 level. However this level has influenced price action again as the index has been sold off slightly in the last 24 hours. In the couple of weeks prior to the strong rally, the index fell sharply again down to its lowest levels in four months, after attempting to rally off support at 25000 several weeks ago. Only a few weeks ago the index dropped down through support at 26200 before rallying higher back above the key 25000 level. After reaching a new all time high earlier last month the US30 index eased a little in the week after and was enjoying some support from the previous key level of 26200, however this has now clearly given away to immense selling pressure.

XRPUSD - Surges to Five Week High as Ripple Expands

on November 8, 2018 | By Stuart McPhee | XRPUSD, Ripple

After doing nothing for several weeks, Ripple has finally enjoyed a surge higher moving to its highest levels in five weeks and moving above the key 0.50 level. For several weeks Ripple had been able to take a deep breath and enjoy some subdued movement after a wild and volatile ride throughout the second half of September. In this time it has been content to trade right around the 0.45 level after the rollercoaster ride which saw it surge higher from near 2018 lows around 0.25 to its highest levels since May above 0.75. As quickly as it reached 0.75, it fell just as sharply and returned to levels below 0.50 where it has remained since last week. The two key levels presently are 0.40 and 0.50.

GBPUSD - Moves to Three Week High as BOE Watches Brexit

on November 8, 2018 | By Stuart McPhee | GBPUSD

The last couple of weeks have seen the GBPUSD surge higher and regain a lot of lost ground moving up to a three week high back above the key 1.3050 level. It will now have eyes on the other key level near this range at 1.3250 which has repeatedly fended off the currency pair’s attempts to move higher. The few weeks before the recent surge saw the GBPUSD drop sharply down to its lowest levels in two months below 1.28. Just before this recent fall, the GBPUSD had enjoyed a couple of solid weeks rising sharply back to the resistance at the key 1.3250 level before being sold off again. Around mid-August the GBPUSD also rallied well which saw it regain lost ground from a 15 month low below 1.27, before reversing strongly again at 1.3050.

UK Oil - Eyes off Support at $71 as Sanctions Take Effect

on November 7, 2018 | By Stuart McPhee | UKOil

In the last month, oil has fallen sharply from its multi-year high above $86 down to the key level of $71 where it is likely to receive some support from. A week ago the decline halted as oil enjoyed solid support at the key $75 level for around a week before dropping through and falling lower. The $71 level has been significant for the last year and should oil drop lower again, it could easily continue a lot lower. Oil enjoyed a very healthy August and September moving from that key $71 level to its highs before falling back to the same level. Oil is now likely to meet some resistance from the $75 level should it rally higher.

Market Blast Video - 06.11.2018

on November 6, 2018 | By Brad Alexander | Market Blast Videos

Welcome to this week’s Valutrades Market Blast Special US Midterm Election Issue!

Normally, US Midterm elections do not mover the markets much but…

USDJPY - Consolidates Around Key 113 Level

on November 6, 2018 | By Stuart McPhee | USDJPY

In the last week or so the USDJPY has rallied well to return to the key 113 level where it has spent the last week consolidating. It has done well to regain some lost ground after falling early last month from a 2018 high above 114.50 down to below 112. The 113 level provided stiff resistance to the currency pair back in July and forcing it lower strongly so it is no surprise that the rally has been halted around that level for the moment. Throughout September the USDJPY surged higher from the key 111 level up to resistance at 113 for a few days before pushing higher to the 2018 high above 114.50.

EURUSD - Support at 1.13 Gives Way after Draghi Comments

Market Blast Video - 13.11.2018

USDCHF - Settles Above 1 as SNB Urges Patience

AUDUSD - Retreats from Six Week High as RBA Grows More Confident

US30 - Meets Resistance at 26,200 Again as Fed Leaves Rates Unchanged

XRPUSD - Surges to Five Week High as Ripple Expands

GBPUSD - Moves to Three Week High as BOE Watches Brexit

UK Oil - Eyes off Support at $71 as Sanctions Take Effect

Market Blast Video - 06.11.2018

USDJPY - Consolidates Around Key 113 Level

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