On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is testing from above its longer MA. The Composite is falling, having broken down its longer MA.
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19.07.2019 - 13.07.2019
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains on the level with the SMA200 and slightly below the EMA14, EMA65 and EMA130 that start turning down. The RSI is breaking out its longer MA. The Composite is showing similar dynamics.
DuPont shares are trading near the monthly low, having decreased by 4.8% since the beginning of July. From the January 6-month high, quotes fell by more than 15%. The company's management expects 100% of the cost reduction plan to be completed by the end of Q3 2019 due to the recent business restructuring and synergy effect, which implies an increase in cash flow of $450 million compared to last year.
In the shares of The Walt Disney, there is a corrective decline from a 52-week high of July 15. Over the past 3 months, the emitter's quotes strengthened by 6.8%. Shares of The Walt Disney continue to play on expectations of strengthening the financial position through the acquisition of Fox assets, as well as prospects for positive cash flow for ESPN+ and Hulu streaming services. The company announced the publication of financial results for Q2 2019 on August 6.
Yesterday, the USD/CHF pair dropped sharply, renewing the lows since July 1. USD is under pressure of disappointing news that the process of negotiations between the United States and China were at an impasse.
The Australian dollar rose substantially against the US one on Thursday, updating local highs of April 24. It is curious that AUD has managed to show quite active growth, despite the ambiguous report on the Australian labor market for June. It reflected employment growth for mere 0.5K jobs, while in May the growth was 45.3K. Analysts were expecting growth of 10.0K jobs.
Oil prices showed ambiguous trend on July 18, updating monthly local minima. Quotes began to fall amid a sharp decline in US stock exchanges, as well as due to expectations of a quick recovery in production in the Gulf of Mexico after the hurricane last week.
The trend is upward.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) develops. Now, the third wave of the lower level iii of 5 is developing, within which the wave (iii) of iii is developing. If the assumption is correct, the price will grow to the levels of 135.00–140.00. In this scenario, critical stop loss level is 120.81.
The price may grow.
On the 4-hour chart, the fifth wave of the higher level (5) develops, within which the wave 1 of (5) formed, and the downward correction 2 of (5) developed. Now, the development of the wave 3 of (5) has begun, within which the first wave of the lower level (i) of i of 3 has formed, and the correction (ii) of i has ended. If the assumption is correct, the price will grow to the levels of 417.00–445.00. In this scenario, critical stop loss level is 347.29.
The pair may grow.
On the 4-hour chart, the downward correction of the higher level developed as the wave (2), within which the wave C of (2) formed as a momentum. Now, the development of the third wave (3) is beginning, within which the first wave of the lower level (i) of i of 1 of (3) is forming. If the assumption is correct, the pair will grow to the levels of 1.2650–1.2780. In this scenario, critical stop loss level is 1.2380.