EUR/USD: There has been a pullback on the EUR/USD, and the price is currently trading below the resistance level at 1.3700. The bullish outlook is not yet completely over, except the price trades below the support level at 1.3650. Some fundamental figures will also be released today, and they will have some impact on the […]
Technical outlook and chart setups: 1. Silver pulls back ahead of $23.00 level yesterday. It is recommended to use this fall as opportunity to initiate long positions around $20.50/00 levels. Aggressive trade setup is to initiate short positions around $21.80 region, risk is $22.50. 2. Immediate resistance is at $23.00, followed by $23.50, while supports […]
Technical outlook and chart setups: 1. Gold finally gives in to lower side, just ahead of major resistance at $1,361.00 level. A meaningful retracement can now be expected hence aggressive trading recommendations are to initiate short positions between $1,336.00 and $1,338.00. Risk remains at $1,348.50. 2. Immediate major resistance is seen at $1,361.00/62.00, followed by […]
Geopolitical risk with regards to the events in Ukraine and Federal Reserve Chair Janet Yellen’s testimony later today gave markets a cautious tone. The dollar eased against the yen after a brief rally induced by strong US new home sales data yesterday. Purchases of new homes increased 9.6% in January to 468,000, exceeding estimates of […]
RBS FY results come in weaker than expected despite ongoing efforts by the bank to deleverage and cut costs – pretax operating loss for 2013 comes in at £8.2b. The bank last month set aside £3b extra for provisions to cover costs of litigation and mis-selling PPI = that’s one of the reasons why FY […]
February 26, 2014 – Indices News Asian markets were mixed during the Asian session. The poor US economic data has taken a toll on the USD, causing the JPY to rally against the world’s reserve currency. As a result Japanese stocks declined; causing the Nikkei to fall from a four- week high. In the later […]
Gold finished its 4-day rally. Gold fell from its overbought levels almost 1%. The US dollar became stronger after the new home sales data printed above expectations. The recent rally in gold was made by weak economic data posted recently. Continuing weak economic data from the major economies is indicating shifting funds towards safe heavens. […]
Technical outlook and chart setups: 1. The EUR/JPY pair is showing signs of a possible top and reversal from 141.00 levels. It is recommended to remain short for now, risk remains at 143.00. A break of 139.00 would accelerate downside. 2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, while supports are spread […]
USD/SGD remains in a downtrend from 1.2806, January 23, 2014 high, and it extended its fall to 1.2560. The pair has been making good support at the level of 1.2560. Currently, the pair is trading in a range of 1.2560-1.2685. Further move will possible only on a breakout to either side. In the daily chart […]
European markets have opened mostly flat today, amid rising political tensions in Ukraine and as investors remained cautious ahead of the US Federal Reserve Chief Janet Yellen’s testimony and a raft of macro releases across Europe and the US. Closer home, traders are expected to keep a tab on Lloyds Business Barometer data. Related Posts:Outlook […]
In Wednesday’s trading session the pair came out of the range in higher side 0.8915 and it made a high at the level of 0.8931. The pair faced resistance at 21DEMA. In the daily chart oscillators are giving a positive direction, but as per the hourly chart oscillators basis, the pair will come back to […]
New home sales data boosted the US dollar. it was the strongest data from the housing market. USD/CAD remains in a downtrend from 1.1224, January 31, 2014 high, and it extended its fall to 0.0910. The pair again tried to cross the previous high from the low of 0.0910, but it was unable to cross […]
Technical outlook and chart setups: 1. The GBP/CHF pair rallied as expected yesterday. A push through 1.4950/60 levels is still required to confirm that bulls would remain in control further. Recommendations are to remain long for now. Risk can be reduced to 1.4700 levels. 2. Immediate support is at 1.4620/30 (intermediary), followed by 1.4550, 1.4350 […]
Daily chart: The USDX made a bullish rebound above the support level of 80.11, so the USDX is trying to consolidate above the 80.35 level. If the USDX does make a breakout at that level, it would be expected to rise to the resistance level of 80.62. These movements may be a change in the […]
When the European market opens, some economic news will be released such as German Import Prices m/m, German Prelim CPI m/m, German Unemployment Change, M3 Money Supply y/y, rivate Loans y/y, Italian 10-y Bond Auction.The US will release the economic data such as the US-Core Durable Goods Orders m/m, US-Unemployment Claims, US-Durable Goods Orders m/m, […]
In Asia, Japan will not release any economic data’s and the US will release some economic data such as US-Core Durable Goods Orders m/m, US-Unemployment Claims, US-Durable Goods Orders m/m, , US-Natural Gas Storage, including the US-Fed Chair Yellen Testifies. So there is a big probability the USD/JPY will move with low volatility during the […]
Daily chart: GBP/USD found support at the level of 1.6663. However, the bullish outlook remains alive in this pair, as the GBP/USD is making corrective movements and there is still the possibility that this pair will rise to the resistance level of 1.6766. On the other hand, a breakout at that support level could lead […]
Overview: As expected, the USD/CAD pair rebounded at the level of 1.1190, and it showed signs of strength following the level of 1.1060. Additionally, the resistance has broken and turned to support at the same key level (1.1058). Equally important, the price set above the support seven days ago. Consequently, the pair has already formed […]
Overview: The NZD/USD pair did not show any signs of following the break of the highest level of 0.8340. Furthermore, the price opened below the ratio of 61.8% Fibonacci retracement levels (0.8334), as well as the resistance is set at the 0.8340 level on February 27, 2014. Therefore, it will be a good sign to […]
USDJPY: With USDJPY reversing its Tuesday losses, further upside is expected towards the 102.82 level. A cut through here will open the door for more gain towards the 103.43 level, its Jan 29 2014 high. Above here will set the stage for a run at the 104.oo level. Further out, resistance comes in at the […]
Hello eToro friends! We all know the idea that animals tend to act a bit weird ahead of a storm or incoming disaster. There are several cases that after a massive disaster strikes in which several humans die, a very minimal amount of animals die. How is this? Do they know something that we don’t […]
The EUR/USD was trading on the down side ahead of several highly anticipated US data releases. The second-half of the week is marked by several high profile data sets, including durable goods orders, home sales and gross domestic product. Ahead of the North American session, the EUR/USD pair was trading at 1.3718, a loss of […]
The euro was broadly weaker in mid-week trading, as investors continued to bid down the single currency amid stronger than forecast Gfk consumer confidence data. In the UK, meanwhile, mostly in line GDP data helped to reinforce the British economy’s strong rebound in the fourth quarter. The UK economy expanded 0.7% in the fourth quarter, […]
The USD/CAD strengthened for the second consecutive session, hitting the 1.11 mark for the second time this week. The idle Canadian dollar continued to suffer, as investors weigh the consequences of investing in a stagnating Canadian economy. Ahead of the North American session, the USD/CAD pair was trading at 1.1099, a gain of 19 pips. […]
February 26, 2014 – Commodities News Copper has been fluctuating today as traders continue to evaluate downside risk after yesterday’s currency crisis in China. As China is the world’s largest consumer of copper at 40% of global demand, contractions in economic activity can cause substantial drops in the price of copper. Given the Chinese governments […]
Overview From today’s H4 chart we see that the metal is still trading between the support level of 21.25 and below the resistance level of 21.75. Silver failed to break the resistance level yesterday and bounced from it. It took a slightly downward move and currently it is retesting the support level of 21.25 again. […]
When one joins the finance world – investments, specifically – they come to learn of the fundamentals and technical analysis. We know, however, that there’s a lot more to factor in. As individuals, we have quirks, superstitions, opinions; all of which have an effect on the way we invest our money. In essence: there is, […]
Overview Proceeding from the today’s H4 chart, the pair is still trading between the Support level of 169.75 and the Resistance level 170.50 and currently the pair is approaching the Support level. If the pair bounces from it again to take an upward movement, it may continue its bullish trend and we will get a […]
Most major currency pairs traded well within yesterday’s ranges, with few market moving news headlines today. There was economic data out today with regards to German consumer confidence and UK revised GDP but the market will likely take its direction from more important events such as Eurozone inflation data on Friday and Fed Chair Yellen’s […]
On Tuesday, 25th February, the Chinese Yuan dropped at a rate which drove it outside the plus or minus 1% level from a midpoint set by the People’s Bank of China. This was a relatively rare occurrence. The dollar rose by 1.3% compared to its mid-January low of 6.04 to reach 6.126 by the end […]
