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USDCHF: With continued weakness seeing USDCHF testing a low of 0.8776 before closing lower at the 0.8801 level on Friday, further decline remains intact. It requires a break and close below the 0.8798 level, its Dec 27 2013 low and the 0.8776 level, its past week low to decline further. Further down, support lies at […]
Overview: USD/JPY is expected to consolidate after hitting its one-week low at 101.72 on Thursday. It is underpinned by the yen-funded carry trades amid improved investor risk sentiment (VIX fear gauge eased 2.16% to 14.04; S&P rose 0.49% overnight) as Fed Chairwoman Janet Yellen in her testimony before U.S. Senate Banking Committee said harsh weather […]
Overview: USD/CHF is expected to trade with bearish bias. It is undermined by the weaker dollar sentiment, flows to haven CHF amid tensions in Ukraine and franc demand on rebounding CHF/JPY cross and on soft EUR/CHF cross. But CHF sentiment are dented by weaker-than-expected Switzerland 4Q GDP growth of +1.7% on-year (versus forecast +2.1%). USD/CHF […]
Overview: NZD/USD is expected to consolidate with bullish bias after hitting its eight-day high 0.8391 Thursday. It is supported by the weaker dollar sentiment, improved risk appetite, kiwi demand on soft AUD/NZD cross and hawkish Reserve Bank of New Zealand’s monetary policy stance. But NZD/USD gains are tempered by the concerns over economic slowdown in […]
Overview In H4 chart, the pair failed more than once to break the Support level of 169.75 and it has been trading above it since yesterday. In today’s H4 chart the pair bounced from the Support area again and started to take a slightly upward move approaching the Resistance level of 170.50 which is already […]
NZDUSD has been locked in strong uptrend since the February 26 low of 0.8280 until today’s high of 0.8424. The market found resistance at this high and has since pulled back, heading towards the 23.6% Fibonacci level of the move up from the February 26 low to today’s high. This support level is found at […]
Eurozone inflation data printed a higher-than-forecast number today and lifted the euro to a new 2014 high against the dollar. The annual flash estimate showed consumer prices rose 0.8% in February, beating estimates of 0.7% while keeping the same pace as in the prior two months. The upbeat data lowered expectations that the European Central […]
It will be a busy week in terms of economic data, central bank meetings and geopolitics. First of all, if the situation in the Ukraine deteriorates and in particular if Russian armed forces become involved (an unlikely scenario at present), safe haven assets and currencies could gain. On the other hand, if that particular situation […]
February 28, 2014 – Indices News The Asian session has traded mixed as it’s reacted to market uncertainty. In early session markets reacted to the unrest that is occurring in Ukraine despite Yellen’s speech, where she stated that the US economy is improving. As a result people again turned to their safe haven asset (e.g. […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – The aussie tumbles down to its monthly low – 28 February 2014 Written by the easy-forex team Currencies The euro (EUR) moved even lower touching the level of 1.3642 before the rebound up to 1.3726 against the US dollar (USD). The pair moved lower after […]
Overview: GBP/JPY is expected to trade in higher range. It is supported by the improved risk appetite, demand from Japan importers and loose BOJ’s monetary policy. But EUR/JPY gains are tempered by the Japan exporter sales, tensions over Ukraine, and speculation that the European Central Bank might ease monetary policy at its meeting next week […]
The pair remains in the bearish impulse initiated off its peak price around 1.6820 as long as this highest price doesn’t get broken through. The breakdown of 1.6600 is essential to confirm reversal and trigger a stronger pullback, which will pause the short-term bullish momentum and open the way towards 1.6536 (50% Fibonacci Level of […]
Successive ascending bottoms are being established on the daily chart. This means the uptrend line established on September 2013 is still intact. The ongoing bullish impulse is probably targeting at 1.3900 corresponding to 100% Fibonacci Expansion. The pair failed to reach this price level on the previous attempt that took place on December 2013. As […]
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Considerable support was provided around 1.6250. This price level corresponds to the previous multiple tops as well as the recent bottom. A breakthrough above the price zone of 1.6590-1.6660 opened the way directly towards the upper limit of the depicted channel around 1.6820 where the bears established a prominent top. As expected, a bearish impulse […]
After fresh highs have been hit recently, the USD failed to keep its gains against the CAD. The pair established a prominent top around 1.1220 that pushed the USD/CAD pair back to the previous congestion zone between 1.0850 and 1.0960. This congestion zone provided considerable support at retesting on February 19. This led again towards […]
On January 24, the EUR/AUD pair initiated a downside movement. This movement was maintained within the depicted bearish channel. On February 13, the bulls expressed a bullish breakout above the upper limit when the bearish momentum expressed considerable weakness. Simultaneously, the bulls established a bullish Head and Shoulders pattern off 1.5000. The neckline is roughly […]
Overview: Since our last analysis, gold has been trading sideways, around the price of 1,330.00. Our previous analysis is still active and buying at this stage looks risky. The Gold rejected from our critical resistance area at the price of 1,338.00. We got FR 61.8% atthe price of 1,338.00 and that level held successfully, which […]
February 28, 2014 – Commodities News Yesterday, the price of gold first rose due to tension in Ukraine and climbed from $1,325/ounce to $1,333/ounce. Secondly, the gold went up after Yellen’s cautious comments yesterday, the pair has been fluctuating today after retracing a little of its gains during the Asian session. Right now, the pair […]
The Dollar index is negatively influenced by the higher than expected CPI announced for EUROZONE today as EURUSD is its major component. The Dollar index is making lower lows breaking below important support at 80 and 79.95. Trend is down and unless the US GDP makes a surprise that strengthens the Dollar, we should expect […]
Stocks in Europe were seen trading mixed on Friday while traders focus on macro-data from European Union countries. The European Euro Stoxx gained 0.02% to 3,140.00, while the German DAX index added 0.34% to 9,621.00 at the time of writing. At the same time the French benchmark CAC 40 edged 0.10% higher at 4,400.80, while […]
The Japanese yen strengthened against the US dollar on the last day of the trading week. The yen was supported by the upbeat industrial production data in January. The yen gained 0.44% against the US dollar, trading at 101.65 yen at the time of writing. The nation’s currency eased 13% against the greenback since April […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6403 on ultra high volume (buying climax). We can observe rejection from our major support zone at the price of 1.6308 which is good sign for potential bullish continuation phase. I placed Fibonacci retracement […]
February 28, 2014 – Stock Market News Today’s Hot Asset – Apple Stocks in the U.S started trading lower yesterday but finished the day rising. Investors were quite timid as they awaited Janet Yellens testimony. Once the testimony finished investors found their confidence and this helped to push stock values higher. Movement will continue throughout […]
The latest daily video report from easyforex.com, includes all the latest fx market moving news and pairs to watch in the forex markets. Related Posts:Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April 18, 2024 We introduce you to the daily updated section of Forex…Video market update for April 18, 2024 April 18, 2024 Potential […]
Gold price has back tested the broken support trend line and is now moving lower to test the short-term low at $1,325. Gold price has made a lower high at $1,335 and this is a bearish sign. The inability of bulls to break above $1,340 has pushed the precious metal lower. As long as Gold […]
February 28, 2014 – Forex News EUR/USD Yesterday, the EUR/USD rose after Janet Yellen’s testimony. Despite noting that the Fed would try to end bond purchases by the fall, Yellen mentioned that there was an unusually high number of unemployed people and that interest rates may remain low – 2 things that made traders less […]
The London gold fix, the benchmark followed by jewelers, miners and central banks to distinguish the worth the metal, may have been controlled for a decade by the banks setting it, researchers say. Unusual trading patterns around 3 p.m. in London, when the so-called afternoon fix is set on a private conference call between five […]
Google Inc. is making a counter against claims that it illegally scanned private e-mail messages, argues it shouldn’t have to face a single lawsuit that lumps together hundreds of millions of Internet users. The world’s biggest search-engine firm contends a nationwide grouping of people who received or sent messages through its Gmail service over five […]
