Technical outlook and chart setups: 1. The GBP/CHF is expected to resume down swing towards 1.4400 and 1.4000. It is recommended to hold on short positions and also look to sell rallies (intraday – inter day). 2. Immediate resistance is at 1.4940/50, while major is at the 1.5120/30 level, while supports are at 1.4550/60, 1.4400, […]
Technical outlook and chart setups: 1. Gold has tested recent swing high at $1,279.00 before falling back sharply. Indications from here are pointing low towards at least $1,215.00. It is still recommended to hold short positions, risk remains at $1,282.50. 2. Immediate intermediary resistance is at $1,279.00, followed by $1,290/95, while supports are at $1,230.00, […]
Daily chart: The USDX continues to find support on the 200-day moving average, so our hypothesis that the USDX try to climb to the resistance level of 81.50 remains standing. However, a consolidation below the 200 SMA, could lead the USDX to fall to the support level of 80.62 and possibly to the 80.11 level. […]
Daily chart: This pair continues to find support on the bullish trend line near the support level of 1.6235. If the pair manages to break this support, it is expected to fall to the level of 1.6146. Furthermore, the GBP/USD is forming a bearish pattern, which could favor the current bearish bias. If this pair […]
Forecast: According to the previous events, the price of the USD/CHF pair has still been moving between 0.9070 and 0.9003. Buy above the 0.8950 price with the first target of 0.9040, it might resume to 0.9105. Stop loss should be set below 0.8925. Sell below the 0.9115 price with the first target of 0.9066; also, […]
Overview: The USD/CAD pair has already formed a strong resistance at the level of 1.1163; furthermore, the same level is coinciding with the ratio of 78.6% Fibonacci retracement levels. Equally important, it should be noticed that a minor support will be set at the level of 1.1025 around the 38.2% Fibonacci retracement levels in H1 […]
The European stocks traded varied at the opening on Wednesday, as investors stayed cautious about the US employment report. The ADP employment data will be released at 1:15 p.m. in London (or 8:15 a.m. EST), and could denote whether the non farm-payrolls report out on Friday will reflect a shift in the US labor market. […]
UBS AG swung sprucely to profit in the 4th quarter, as the Switzerland’s largest bank drives ahead with a bid to run in trimmed-down form. The Zurich-based bank, which was severely affected by the financial crisis six years ago and has battled to form its scandal-prone investment bank into a reliable supplement to its flagship […]
Asian stock markets were aggressively lower on Tuesday, as poor economic report from US hyped the already sour market sentiment. Japan led the region lower, with the Nikkei drop 3.2% in early trading, following a disappointing US economic data from the US smashed stocks in Wall Street. The index is close to a 2% fall […]
The Japanese yen had a weak start in Asia on Wednesday, which moved back from peaks several months now. The emerging markets stabilized and the stocks rallied, while the Australia dollar took a break from a powerful rally. The US dollar jumped to ¥101.63 and the euro incurred to ¥137.33, both going away from 11-week […]
GOLD: With attempts of resuming its short term uptrend failing on Wednesday for a marginal higher close, consolidation above its broken falling trendline may continue. If however GOLD retakes the 1,279.08 level, its Jan 27 2014 high to create scope for more upside the 1,300.00 level, its big psycho level will be targeted. A clearance […]
February 5, 2014 – Indices News Asian markets are mostly up after stellar performance in the United States yesterday. Furthermore, better than expected earnings from Asian firms have also pushed up Asian Indices. Lastly, the resolution of the currency crisis in emerging markets has increased investor optimism and after a few days of downward movement. […]
With eToro being the Social Investing Network, we’re always talking about wisdom of the crowd. But what does that actually mean? Is it about doing what your friend is doing? Maybe it’s asking people what they think and working that into your own ideas. Whatever your interpretation of the term, you’re probably right. Let’s take […]
With eToro being the Social Investing Network, we’re always talking about wisdom of the crowd. But what does that actually mean? Is it about doing what your friend is doing? Maybe it’s asking people what they think and working that into your own ideas. Whatever your interpretation of the term, you’re probably right. Let’s take […]
Overview: USD/JPY is expected to trade in lower range after hitting two-month low 100.76 Tuesday.It is underpinned by yen-funded carry trades amid improved investor risk sentiment (VIX fear gauge eased 10.87% to 19.11, S&P rose 0.76% overnight) on rise in U.S. ISM-NY current business conditions index to 64.4 in January from 63.8 in December, smaller-than-expected […]
Bulls have managed to hit fresh highs (around 1.1220) since 2009. Temporarily, USD failed to keep its gains against CAD, and the USD/CAD pair was pushed to the downside, thus indicating weakness of the ongoing bullish momentum. This is manifested in the recent weekly candlestick closures depicted in the chart. The prominent resistance zone is […]
Trading recommendation: The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.8255 and the second target at 0.83. […]
The GBP/USD pair failed to fixate above 1.6600 on January 24. Instead, a strong bearish impulse initiated quickly pushing the pair towards 1.6250 . Around 1.6250, previous multiple tops were established. That’s why a considerable support is expected to be found there. Near 1.6250 extending down to 1.6200, the lower limit of the ongoing bullish […]
Overview: GBP/JPY is expected to trade in lower range. It is underpinned by reduced investor risk aversion and demand from Japan importers. But GBP/JPY gains are tempered by the Japan exporter sales. Daily chart is still negative-biased as MACD is bearish; stochastics stays suppressed at oversold zone, 5 and 15-day moving averages are declining. Trading […]
Fundamental news headlines played a role in currency moves today as some key economic data from all regions were released, including the Eurozone, the UK and the US. The British pound was the main currency that was impacted by data and was one of the worst performing currencies during the European session. Sterling fell against […]
A breakout above the previous resistance level of 1.3450 allowed bulls to higher levels around 1.3650, and then 1.3750 within the bullish channel. Later on, obvious bearish rejection was expressed at 1.3850 (failing to reach 100% Fibonacci Expansion at 1.3904). Instead, a breakdown of the lower limit of the depicted bullish channel took place on […]
Overview: USD/CHF is expected to range-trade. It is and supported by the reduced safe-haven appeal of franc as risk aversion recedes. But USD/CHF upside is limited by the franc demand on buoyant CHF/JPY cross. Daily chart is mixed as stochastics is neutral, MACD is in bearish mode, inside-day-range pattern was completed on Tuesday. Trading recommendation: […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Dollar higher amid strong recovery signs – 31 January 2014 Written by the easy-forex team Currencies A stronger dollar pushed the euro (EUR) lower as the pair moved below 1.3543 in early trading. The single currency may come under stress today as Eurozone price data […]
RSA insurance announced late yesterday the appointment of their new CEO, the new man to front the company will be Stephen Hester, the former boss of RBS and the man credited with helping its turn around in fortunes after the credit crunch. RSA removed a number of senior staff and executives late last year after finding “financial […]
The volume of retail sales in the Eurozone fell by more-than-forecast in December, as the Christmas shopping season failed to tempt shoppers to spend more. The drop in sales marked the biggest fall since May 2011. According to the EU’s statistics office Eurostat, the volume of retail trade in the 17-member euro area fell 1.6 […]
The GBP/USD pair successfully achieved its projection target around 1.6600 after the bullish breakout above 1.6250. This price level is acting as a daily resistance for the pair until now. Last bullish movement exceeded 1.6600 rendering 1.6666 as the highest price in January. However, bearish engulfing daily candlestick was immediately expressed off these high levels […]
February 5, 2014 – Stock Market News Today’s Hot Asset – Twitter Stocks in Europe are currently trading mixed during a very turbulent session so far today. Investors are keenly awaiting the U.S. jobs data due to be released later in the session and this is causing uncertainty. The data will be released whilst the […]
West Texas Intermediate (WTI) climbed during the Asian trading session on Wednesday amid the cold weather in the US, the world’s biggest oil consumer. Futures for the North American WTI crude for March delivery added 0.60% higher to $97.88 per barrel on the New York Mercantile Exchange at the time of writing, while the Brent […]
The services sector for the 18-bloc eurozone expanded in January, showing an improvement for the sixth month in a row, data from Markit Economics confirmed on Wednesday. Eurozone’s final Purchasing Managers’ Index (PMI) for the services sector expanded by 51.6 points in January, slightly higher than the reading of 51 seen in the previous month […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of 1,252.20 on lower volume. Our previous analysis is still valid and if the price breaks the area of 1,266.00 on higher volume, we may expect further bullish movement and continuation of the bullish corrective phase. Otherwise, if the price […]
