USD/CAD Elliott WaveВ Since our last forecast, the USD/CAD has continued trading downward, just like weВ expected,В correctiveВ wave (b) (coloured red) of the bigger wave [y] (coloured green) hasВ been developing. In the 1-hour chart you can see that we are trackingВ descendingВ moveВ from 1.0991 toward 1.0918 as corrective wave a of the bigger wave (b), and while priceВ stay below […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,242.70 on average volume.We can also observe that demand has entereted the market at 1,233.80 which caused the price to start small bullish movement. If the price breaks the level of 1,256.00 (FE 61.8) on high volume, we may […]
AUD/USD Elliott Wave The AUD/USD pair continued trading downwards yesterday, wave i (coloured blue) of thebigger wave (v) (coloured red) was developing. In the 1-hour chart above you cansee that we are looking at the downward move from the 0.9085 level, as the first extendedwave of the final (v) wave, RSI is showing divergence and […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6393 on volume above the average. 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 […]
(click to enlarge) Today’s employment report for Australia during December contained some negative surprises for analysts. Instead of creating around 7,500 jobs during the previous month as economists had expected, the Australian economy actually shed 22,600 jobs. The job losses were the biggest since March of 2013, when the economy lost 33,800 jobs. November’s employment […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Volatility picking up in markets after holiday freeze – 15 January 2013 Written by the easy-forex team Currencies The euro (EUR) dropped on yesterday’s trading session against the dollar. The single currency has fallen from 1.3698 to 1.3635 hinting at a reversal of its bullish […]
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:Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar…Forex forecast 04/08/2024: EUR/USD, GBP/USD, USD/JPY, Gold… April 8, […]
General overview for 16/01/2014 11:00 CET Another high has been made yesterday and it has been labeled as the current top for the wave V black. From that high price has made an impulsive decline that looks like a Leading Diagonal structure and currently market is in the corrective cycle of wave 2 red. Any […]
General overview for 16/01/2014 10:40 CET The anticipated yesterday move upwards in this pair has been initialized after corrective cycle of abc Irregular Flat subwave had been done. The current target for this move is the SUPPLY ZONE, but first the intraday resistance at the level of 142.90 must be taken out. On the other […]
Aussie collapse on employment shock Morning Report: 08.45 London • This morning, the Australian dollar is dropping heavily after employment change data came in well below estimates. The AUD/USD is down 1.34%, while the AUD/JPY is off by 1.17%. • Commodities are also suffering, with gold down by 0.33% and silver off […]
AUDUSD tumbled to a new 3-1/2 year low in the aftermath of dismal Australian jobs data on Thursday. Job creation declined by 22,600 last month, following November’s revised 15,400 gain, missing forecasts for a 7,500 increase. Bearish sentiment in the pair remains strong. Since October 2013, AUDUSD has been consistently carving out lower peaks and […]
The Dollar index is trading near its short-term resistance area of 81.15. Prices have stopped their rise just below the resistance as it proves to be a very strong obstacle. Bulls will need to show more signs of strength in order for the upward move to continue. The price formation from 80.40 looks impulsive but […]
Gold prices have made a small impulsive move down from $1,256 to $1,233. An upward bounce has followed that made a lower high. Now prices are turning down again and are going to test the lows. If prices manage to break the lows as shown by the red solid area in the chart below, then […]
Overview: GBP/JPY is expected to trade with risks skewed higher. It is supported by positive investor risk sentiment and demand from Japan importers. But GBP/JPY gains are tempered by Japan exporter sales. Daily chart is mixed as MACD is bearish, but stochastics is rising from oversold zone.В Trading recommendation: The pair is trading above its […]
Overview:В USD/CHF is expected to trade in higher range. This movement is supported by the positive dollar sentiment and franc sales on rising EUR/CHF cross. Daily chart is positive-biased as MACD is in bullish mode and stochastics is turning bullish.В Trading recommendation: The pair is trading above its pivot point. It is likely to trade […]
Overview: NZD/USD is trading in lower range and expected to continue its downward movement. It is undermined by the positive dollar sentiment. But NZD/USD losses are tempered by Kiwi demand on NZD/JPY cross amid positive risk sentiment , Kiwi demand on soft AUD/NZD cross and hawkish Reserve Bank of New Zealand’s monetary policy stance. Daily […]
Technical outlook and chart setups: 1. Gold retraced yesterday and possibly bottomed out at $1,234.00. A rally should push prices above $1,255.00 mark, towards the $1,267.00/70.00 region. Recommendations are to watch out for any bearish formations at $1,267.00 and initiate short positions. 2. Immediate resistance is at $1,267.00, while supports are spread through $1,234.00 (intermediary), […]
Gold has rebounded from the lower levels and saved its 6-month low. It arrested at strong resistance level of $1,255. Unwinding of the stimulus program in this month is a big problem for gold in coming months. Gold prices has turned again into a bearish note. Recent data on the streets gave a strong recovery […]
Today’s Support and Resistance levels: R3: 1.6435 R2: 1.6405 R1: 1.6385 Current Spot: 1.6354 S1: 1.6339 S2: 1.6298 S3: 1.6262 Technical summary: The wave (iv) correction we where looking for is unfolding nicely. We expect support at 1.6340 to protect the downside for the last rally higher towards the 1.6405 -1.6415 area, before wave (v) […]
Technical outlook and chart setups: 1. Silver has taken out the $20.50 resistance, as expected. It is recommended to hold on to long positions taken earlier and also add further on dips. 2. Immediate resistance is at $21.00, followed by $22.00, while support is at $19.40/50, followed by $19.00/10 and $18.75 respectively. 3. The structure […]
Today’s Support and Resistance levels: R3: 143.52 R2: 143.09 R1: 142.85 Current Spot: 142.66 S1: 142.35 S2: 141.79 S3: 141.48 Technical summary: The wave ii correction, we expected, is unfolding nicely and we will be looking for resistance in the 143.09 – 143.17 area to halt the correction and turn prices down in wave iii. […]
Technical outlook and chart setups: 1. EUR/JPY has rallied through the fibonacci 0.382 resistance at 142.90, as seen here. It is recommended to hold long positions for now and move risk to break even. A push through 142.90 should see 143.50/70, the fibonacci 0.618 resistance. 2. Immediate resistance is at 145.50, while supports are spread […]
Technical outlook and chart setups: 1. The single currency pair has rallied through the 1.4900’s region as expected. Please note that 1.4900 is the 0.618 fibonacci resistance of the fall from 1.5020 to 1.4720/30 recently. It is recommended to take profits on long positions for now. 2. Resistance is at 1.5020, while supports are spread […]
The Japanese economy will grow 1.4% in the current year as World bank forecasts. Aggressive fiscal and monetary easing have flashed a strong cyclical recovery. Japan will continue to grow above potential and will finally exit deflation. BOJ quantitative easing is manifesting itself through reflection in corporate profits. From last couple of months global macro […]
The Australian dollar dropped to a 3-1/2-year low after unexpectedly dismal employment data. The aussie suffered heavy losses in the wake of the release of the December jobs report which showed jobs in Australia fell by 22,600 last month, following November’s revised 15,400 gain. This was a huge miss compared with forecasts for an increase […]
European markets have opened slightly higher today, as another batch of upbeat US economic data along with a statement from IMF Managing Director Christine Lagarde that the global economy would strengthen in 2014, boosted investor sentiment. However, gains are expected to be capped, on profit booking. Closer home, a survey by the Royal Institution of […]
EUR/USD: As it was forecasted, EUR/USD was able to reach the support line at 1.3600. The line has been tested repeatedly and could soon be breached to the downside (though it appears not easy), especially with the continuation of the current bearish pressure. There is a Bearish Confirmation Pattern in the chart, and so, the […]
Daily chartВ The Light crude oil rose 1.7 per cent today and closed at 94.34 dollars per barrel after the announcement on the sharp decline in crude oil reserves in the United States during the last week. Buyer activity in the market was highly favored today by the announcement of the Department of Energy that […]
Daily chart The USD/CHF closed for the second consecutive day with upward trend and was very close to violating the top line of bearish trend channel. It is hoped that the panorama in the course of the next few days, as could also be today, Thursday. However, since at this time seems to have found […]
Overview:В The USD/CHF pair has not shown signs of a break of the highest level of 0.9126, but it has opened today above the weekly support at the level of 0.9050; therefore, it will be a good sign to buy above the level of 0.9050 with the first target of 0.9115 and resume to 0.9145 […]
