Forecast for the long term: According to previous events, The NZD/USD pair has still been trapped between 0.8303 and 0.8355. Strong level (resistance) will be formed at the level of 0.8460 providing a clear signal for sell deals with the target seen at 0.8275. Stop-loss is to be placed above 0.8515. Strong level (support) will […]
Overview: The USD/CHF pair probably will form a strong support at the level of 0.8990 (above 38.2% of Fibonacci retracement levels, as well as it will also form a sturdy resistance at the 0.9150 level in the H1 chart. Equally important, it should be noted that the price is going to form a double bottom […]
Stocks in the Asian region started-off the week lower following the release of China’s GDP data, which revealed that China’s economy was growing at a slow pace in the fourth quarter. Shares in Japan were shaken by the nation’s weak consumer data and strong yen. Hong Kong’s benchmark Hang Seng declined 0.47% lower at 23,025 […]
Futures for the West Texas Intermediate (WTI) dropped from its highest price in two weeks, following the government data which revealed the China’s industrial output slowed last month. China is the second largest oil consumer in the world after the US. Futures dropped as much as 0.8%, while factory production advanced 9.7% higher, according to […]
The European single currency continued to decline against the US dollar on Friday, imitating Thursday’s trading session just before the European session’s open bell. The euro dropped 0.15% lower, trading at $1.3597 on Friday. “The generally softer tone in yields yesterday in response to weaker equities is less likely to generate any euro losses,” Lloyds […]
CRUDE OIL: With Crude Oil’s two-week recovery halted due to consolidation threats, the risk remains to the downside. Its present bear tone is suggestive of more declines with a push lower likely towards the 93.36/00 level, represent its Jan 102014/psycho level. Below here if seen will pave the way for a run at the 92.43 […]
General overview for 20/01/2014 15:15 CET Last downside wave progression has broken the low of wave 1 (current A green) and this is why the count has been changed to more complex wave structure. Currently, the upside wave progression has not been changed and there is some evidence that higher prices are possible. The upside […]
Overview: USD/JPY is expected to trade in lower range. Liquidity is thin in global day as financial markets in U.S. are shut for holiday. USD/JPY is undermined by selling of yen crosses amid diminished investor risk appetite (S&P fell 0.39% Friday) on disappointing U.S. corporate earnings, surprise drop in University of Michigan preliminary consumer sentiment […]
Overview: USD/CHF is expected trade in higher range. It is supported by broadly stronger dollar undertone, tame Switzerland December PPI (fell 0.2% on year) and franc sales on the weak CHF/JPY cross. But USD/CHF gains are tempered by the franc demand on soft EUR/CHF cross. Daily chart is positive-biased as MACD and stochastics both are […]
Overview: NZD/USD is expected to trade in lower range as traders are waiting for 21:45 GMT (10.45 am Tuesday NZ Time) New Zealand 4Q CPI. NZD/USD is undermined by the broadly stronger dollar undertone, Kiwi sales on soft NZD/JPY cross amid waning investor risk appetite and Kiwi sales on rebounding AUD/NZD cross. But NZD/USD losses […]
The euro managed to rebound from a 2-month low of 1.3508 made during the Asian session earlier, as a rise in money-market rates helped the currency to climb out of that particular hole. The overnight money-market interest rate known as EONIA jumped to 0.343%, which was much higher than the ECB’s main refinancing operations rate […]
GBPUSD: With a second day of recovery higher underway, there is risk of price extension with eyes on the 1.6516 level, its Jan 10 2014 high. A decisive break and hold above this level will pave the way for a run at the 1.6603 level, its Jan 02’2014 high. Further out, a breach of the […]
The beginning of the week could be relatively quiet because of the Martin Luther King Jr. national holiday in the United States on Monday and the lack of important data announcements out of Europe. When the US returns to work on Tuesday, there will only be a week left until the beginning of the Fed’s […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,261.23 on average volume according to M30 timeframe.We can also observe that demand has entered the market at 1,237.50 which caused the price to start bullish movement. Since the price has broken the level of 1,254.00, […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6493 on high volume. As you can see in the chart, our FR 61.8 % at 1.6270 held successfully and the price started upward movement from that point. We can observe that supply had […]
The weekly technical levels of the GBP/USD pair. Overview: The GBP/USD pair broke a major resistance at the level 1.6318 last week, and today the price have opened around the new weekly pivot point at the 1.6410 level. Moreover, it should be noted that the weekly pivot point is calculated at 1.3112. Therefore, a movement […]
Idea about pivot point: To identify the pivot point and its resistance/support levels, you should use historic rates to determine future prices. It means to use the previous period’s high, low and close to formulate future resistance and support. So, the pivot point is an orbit among three up levels that are referred to resistances […]
Today’s Support and Resistance levels: R3: 1.6594 R2: 1.6521 R1: 1.6499 Current spot: 1.6419 S1: 1.6403 S2: 1.6359 S3: 1.6324 Technical summary: The correction from 1.6214 has become a more complex double zig-zag correction, with the first zig-zag (w) from 1.6214 to 1.6417 followed by an x-wave down to 1.6272 and then the second zig-zag […]
Today’s Support and Resistance levels: R3: 141.91 R2: 141.61 R1: 141.37 Current Spot: 141.32 S1: 141.04 S2: 140.90 S3: 140.60. We now have seen a five wave decline from 145.69 down to 140.49 followed by a three wave rise to 142.91 and from 142.91 a new five wave decline. All this confirms that an important […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Consumer sentiment sets the pace – 17 January 2013 Written by the easy-forex team Currencies The euro (EUR) remained range bound in yesterday’s trading session against the dollar. Support lied at 1.3582 while the pair could not move above 1.3647. Today’s US data releases may […]
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:EUR/USD. April 26th. Bulls continue to advance after the GDP… April 26, 2024 The EUR/USD pair on Thursday rebounded from the corrective level…Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed […]
USD/CAD Elliott Wave After a strong upward movements in the early January, the USD/CAD pair traded sideways last week.You can see on the 1-hour chart above that we are tracking this sideways movements from the 1.0991 level asthe flat correction that currently have two waves completed, we are going to look for one more push […]
AUD/USD Elliott Wave Last week, the AUD/USD pair has been trading downwards, impulsive wave i (coloured blue) of the bigger wave (v)(coloured red) has been developing. In the 1-hour chart you can see that AUD/USD descending move from 0.9083towards 0.8756 level looks as completed cycle, we are seeing price around 0.8805 at the moment and […]
The Dollar index has made an impulsive rise from 80.40 lows. Prices have managed to make a new short-term higher high at 81.30. This is a good sign for bulls, but we need more. Prices are still below the important high of 81.50 and still inside the important resistance area. Short-term support is found at […]
General overview for 20/01/2014 08:40 CET The anticipated target level for wace c purple to at 1.0983 has been hit. Currently the corrective cycle might be finished and price should react more to the downside. First confirmation will be golden trendline break to the downside. On the other hand, any new high invalidates bearish scenario […]
Gold prices continued their upward bounce from $1,180. Our initial bounce target was $1,270. At $1,256, prices made a short term bearish reversal, but the important intermediate support low at $1,220 was never broken. Support was held and prices managed to break above short-term resistance at $1,248 and made a new higher high at $1,260. […]
(click to enlarge) The pound had an interesting first few days to 2014, particularly against the euro, which is also failing to build on its good performance of 2013. The euro fell to its lowest against the pound since early January of 2013 on 9th January 2014 at 0.8229. This level represents support for now, […]
China GDP relief Morning Report: 08.30 London • We’ve had some early volatility this morning as Chinese GDP came in just above forecasts to general relief across Asia. The data hasn’t quite translated into a bullish start to the day for US and European equities, but it has given the Australian dollar some positive momentum. […]
Most major currency pairs ended the Asian session little changed compared to Friday’s New York close, as news that Chinese 4th quarter GDP slightly exceeded expectations brought relief to the market and specifically to Asian currencies. Chinese growth for the year 2013 came in at 7.7% compared to 7.7% during 2012, beating the official target […]
EUR/USD: This market has been bearish and it would continue to be so this week. We are watching the support lines at 1.3500 and 1.3450, which are the successive targets for the bears. Meanwhile, the resistance lines at 1.3600 and 1.3650 should act as barriers to any possible bullish threats. USD/CHF: В This, week the USD/CHF […]
