European markets have opened mostly higher today, following better-than-expected GDP data from Germany and France, and ahead of Eurozone GDP and US consumer sentiment data due later in the day. Closer home, investors will keep a close eye on data which is expected to show that the seasonally adjusted construction output in the UK rose […]
The US retail sales data softened the US dollar and made green ticks in gold. Gold made a high at the level of $1,302.70 yesterday. This year gold started in a good mood reaching a 3-month high. The rally we have seen so far came from short covering. In Asia’s trading session just now gold […]
When the European market opens, some economic news will be released such as French Prelim GDP q/q, German Prelim GDP q/q, French Prelim Non-Farm Payrolls q/q, Italian Prelim GDP q/q, Flash GDP q/q, Trade Balance. The US will release the economic data too such as the US-Import Prices m/m, US-Capacity Utilization Rate, US-Industrial Production m/m, […]
In Asia, Japan will not release any economic data’s for today and the US will release some economic data such as US-Import Prices m/m, US-Capacity Utilization Rate, US-Industrial Production m/m, US-Prelim UoM Consumer Sentiment, US-Prelim UoM Inflation Expectations. So there is a big probability the USD/JPY will move with low volatility during the Asian session, […]
Silver closed above the failing channel for the first time joining the breakout made by gold. In our previous report dated February 07, 2014, we recommended buying. Silver traveled with us. However, it’s been in a flat rectangle trading range for some time and a move above $20.4 would break the range to the upper […]
The US retail sales fell 0.4% in January, while it was expected the sales to hold steady. USD had mixed results against other currency pairs this week. Last week, the non-farm payroll data did not encourage the US dollar to move higher. The dollar index is still forming a triangle coming back to the lower […]
Daily chart: The USDX fell significantly below the level of 80.62, having formed a higher low pattern. Now, the next target for the USDX is the support level of 80.11. However, one would expect that the USDX will start forming another bearish pattern to continue falling. The USDX is very strong in its bearish bias, […]
Daily chart: GBP/USD continues to rise above the support level of 1.6540, heading towards the resistance level of 1.6663. If the pair manages to break that level, it is expected to rise to the resistance level of 1.6851. On the other hand, it is expected to fall to the level of 1.6540 if the pair […]
After declining 100 pips, the EUR/GBP pair began its long road to recovery. The EUR/GBP was back in the driver’s seat after Germany posted in-line consumer inflation data. Consumer inflation in Europe’s largest economy declined 0.6% in January, in-line with forecasts. Compared to year-ago levels, consumer inflation in Germany was up 1.2%, also in-line with […]
The EUR/USD rebounded sharply one day after falling to multi-week lows. The pair was supported after German consumer inflation data met expectations. Although Eurozone inflation is expected to remain subdued, analysts forecast a strong rebound for the Eurozone economy in 2014, according to the European Central Bank’s quarterly survey. Germany’s Consumer Price Index declined 0.6% […]
The USD/CAD was back above 1.10, after declining in three of the past four sessions. The pair has been under pressure due to weaker than forecast US nonfarm payrolls data, which threatened to undermine the Federal Reserve’s bond tapering program. With Janet Yellen confirming that the Fed will continue with the gradual tapering process, the […]
CRUDE OIL: The With corrective pullback fading, a return to the 101.37 level. It will have break above here to convince the market of further upside. Above here will pave the way for a run at the 101.50 level where a violation will aim at the 102.00 level, its psycho level and then the 102.50 […]
A considerable support was provided around 1.6250. This price level corresponds to the previous multiple tops as well as recent bottom established around 1.6250. The 4H chart reveals an inverted bullish Head and Shoulders pattern which was expressed around 1.6220 aiming at a 1.6470-1.6500 “previous prominent resistance zone”. Four-hour breakthrough above the price zone of […]
The nearest SUPPLY zone is located between 1.3680 – 1.3730 which corresponds to the price zone between 50% and 61.8% Fibonacci levels. On Tuesday, the pair expressed an Inverted Hammer daily candlestick while retesting 1.3680 (50% Fibonacci). Fundamentally, industrial production in the euro area witnessed an unexpected decline of 0.7% on a monthly basis in […]
From fundamental standpoint, positive news came from the Bank of England Monetary Policy Committee which expects the unemployment rate to reach 7% by the first quarter of 2014. This accelerated the current bullish impulse towards 1.6570 then 1.6666, according to the fundamental data released yesterday. Today, the GBP/USD bulls managed to breach the previously established […]
Overview: GBP/JPY is expected to trade in higher range. It is undermined by diminished investor risk appetite, Japan’s export sales and weak euro sentiment. But GBP/JPY losses are tempered by the demand from Japan’s importers. Daily chart is still positive-biased as MACD and stochastics is in bullish mode, five-day moving average is above 15-day MA […]
Overview: USD/JPY is expected to consolidate. Buoyed by positive dollar sentiment (ICE spot dollar index last 80.68 versus 80.63 early Wednesday) after Federal Reserve Chairwoman Yellen in her Congressional testimony on Tuesday indicated the central bank will continue reducing its monthly bond purchases. USD/JPY is also supported by the higher U.S. Treasury yields, ultra-loose Bank […]
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Today’s Support and Resistance Levels: R3: 1.6525 R2: 1.6460 R1: 1.6430 Current Spot: 1.6388 S1: 1.6351 S2: 1.6299 S3: 1.6253 Technical Summary: We do think the triangle X-wave ended with the test of 1.6253, but we do need more evidence in form of a break above resistance at 1.6525. Short-term break above resistance at 1.6388 […]
February 13, 2014 – Indices News Asian markets have dropped after experiencing 6 previous days of expansion. The main cause of decline in indices today is due to profit taking. Equity markets across the globe gained after worse than expected Nonfarm Payrolls Data in America and Janet Yellen’s unexpectedly dovish sentiments. Now, many investors want […]
Overview: USD/CHF is expected to consolidate with bearish bias after hitting its four-day high at 0.9038 Wednesday. It is supported by the positive dollar sentiment and franc sales on soft CHF/JPY cross and on buoyant GBP/CHF cross. Daily chart is mixed as MACD is bearish, but stochastics is in bullish mode. Trading recommendation: The pair […]
Overview: The NZD/USD is expected to trade in higher range. It is undermined by the positive dollar sentiment, Kiwi sales on soft NZD/JPY cross amid waning investor risk appetite and on buoyant GBP/NZD cross. But teh NZD/USD losses are tempered by hawkish Reserve Bank of New Zealand’s monetary policy stance and buoyant commodity prices. The […]
Today’s Support and Resistance levels: R3: 140.24 R2: 139.89 R1: 139.66 Current Spot: 139.08 S1: 138.88 S2: 138.17 S3: 137.54 Technical Summary: The decline from 140.30 is not the ideal fit that we would like, but we will give the downside the benefit of the doubt and look for more downside pressure as long as […]
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Overview Based on today’s H4 chart, after failing to break the intersection point yesterday between the lower limit of upward trend line with the Support level of 168.50, the pair reversed its bearish movement taking an upward move and managed to break the Resistance level of 169.75. Currently, the pair is approaching the Resistance level […]
Overview In the today’s H4 chart, the metal is still trading below the Resistance level of 20.20 and above the lower limits of the bullish channel keeping its move inside it. Currently, silver is testing these boundaries to start its bearish movement. So we should wait for breaking the support boundaries to create a new […]
The main theme of the currency markets today was dollar weakness, which built up throughout the European session and culminated with the release of soft US retail sales data as well as disappointing weekly jobless claims numbers. Retail sales fell 0.4% in January, led by a drop in automobile sales. They were expected to remain […]
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 […]
The Australian dollar dropped against the US dollar on Thursday, following the reports from the statistics office which showed the Australian labour market worsened, with the jobless rate rising to its highest in ten years. The AUD/USD currency pair was trading around $0.9029, but later dropped 0.98% to $0.8937 after the report was released. Australian […]
