The European session on Tuesday was relatively quiet leading into the May 1st public holiday on Wednesday when most major markets in Europe will be closed. Major currencies were mostly driven by month end flows and repositioning. Euro was the major mover as a result of economic data releases which weakened it against the dollar […]
Technical outlook and chart setups: The single currency pair is still within the decreasing resistance, increasing support triangle formation as depicted here. It is recommended to initiate short positions again around the 130.00 mark, or on a break of 126.00. Intermediary support is at 125.00 region and a break lower would accelerate downfall towards 123.00/124.00 […]
Technical outlook and chart setups: Gold is retracing or just consolidating recent gains. As depicted on chart here, the yellow metal could fall below towards 1,450.00/1,425.00 levels before rallying further up towards the measured extension of 1,500/10 levels. It is recommended to book profits on the metal at current price (1,472.00) and wait for dips […]
Technical outlook and chart setups: Silver rally is in 3 waves for now and it is corrective in nature. The support region is around 23.50 (trendline is passing through) and immediate resistance is at 26.00/50 levels (past support turned resistance). The wave structure is unfolding at the moment, it warrants a dip towards 23.50 level […]
Overview: AUD/USD: According to the previous events, the price has still been trapped between 1.0360 and 1.0300. Therefore, first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bullish signs. In other words, it will be a good sign to buy above 1.0280 […]
Overview: The NZD/USD pair continues rise from 0.8500 (on the H1 chart between 38.2% of Fibonacci retracement levels and 50%). Therefore, the Kiwi is shown signs of strength following the break of the highest level of 0.8500. So it will be a good sign to buy above the level of 38.2% of Fibonacci retracement […]
Technical outlook and chart setups: As depicted on the daily chart view here, the single currency pair has produced an Evening Star bearish signal at yesterday’s close. This level around 1.4600/50 is also re-enforced by the 0.618 Fibonacci resistance (purple lines). Hence it is recommended to remain short from positions taken earlier and sell rallies […]
Optimism that was created by data on UK GDP (it was published on April 25, it was 0.3% vs. forecast for 0.1%) declines gradually. Yesterday British FTSE100 grew 0.49% vs. German DAX which added 0.76%, French CAC40 was up 1.55%, and US S&P 500 rose 0.74%. The pound added 12 points vs. 49 points for […]
Euro fell after euro zone inflation data came in lower than the expected 1.6 percent in April and the jobless rate rose. Euro zone CPI data this morning showed that inflation has fallen to a three year low, while the unemployment rate for the region rose to 12.1 percent printing a new record high. The […]
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:Video market update for April 05, 2024 April 7, 2024 Potential for the further drop on NAS100 ….The material has…Why is gold defying gravity? – Special Report April 7, 2024 Gold […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has continued trading lower, so we changed our primary count a little bit. During the Yesterday’s Asian and European sessions we could observe descending movement from 1.0168 towards the 1.0133 level. Therefore, during the New York session this commodity currency has continued trading in bearish […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has continued trading lower, so we changed our primary count a little bit. During the Yesterday’s Asian and European sessions we could observe descending movement from 1.0168 towards the 1.0133 level. Therefore, during the New York session this commodity currency has continued trading in bearish […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has continued trading upwards, just like we expected, corrective wave C (coloured blue) of the bigger wave (B) (coloured green) has been developing. During the Monday’s Asian and European sessions we could observe strong ascending movement from 1.0271 towards the 1.0320 level. Therefore, during the […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has continued trading upwards, just like we expected, corrective wave C (coloured blue) of the bigger wave (B) (coloured green) has been developing. During the Monday’s Asian and European sessions we could observe strong ascending movement from 1.0271 towards the 1.0320 level. Therefore, during the […]
Yesterday along with the stock market the euro grew. The Eurozone Retail PMI in April which was 44.2 vs. 43.7 and the Italian 10- year bond yields auction influenced positively the euro. The Italian 10-year yield fell to 4.21%, the lowest level since July 2012, from 4.28%. The program calling for tax cuts for business, […]
The British pound managed to make its upward momentum to the 1.55 area. However, as we have mentioned several days ago, this pair has a downside target which is located at the levels of 1.50. Thus, analyzing the table pivots, we can say it has a resistance of 1.5582 which is unlikely to reach this […]
The euro is testing the resistance level of 1.31. In our previous reports we showed the reasons by which the euro in the short term would remains bullish. Given that, this week there will be very relevant data for the euro. We must take into consideration the weekly pivot levels. If the pair manages […]
The EUR/JPY pair is trading below the weekly pivot 128.50, below this level there is a downward pressure for the pair, it prevents the euro-yen price increase. In its turn, there is another resistance which is also significantly stronger, the first weekly resistance which is located at 129.86. To overcome this level, the upward trend […]
The Australian dollar is finding support above 1.0278 weekly pivot but cannot overcome the 1.0340 area. If the pair closes the day above this level it is likely the next targets in the second weekly resistance are at 1.0394 and 1.0450 (W_R3). The short-term outlook is bullish for this pair, so if there is a […]
Read the Daily Market Report from Dave Evans, Professional Trader Gold recovery back on trackMorning Report: 08.30 London • Last night, the S&P 500 closed at a record high, while Asian markets hit their highest levels since the 2008 crisis. This mornings trading is a […]
Gold approaches the upper limit of its medium-term bearish channel at 1,478 suggesting a decline. However, a break of this level will initiate a violent bullish channel. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have greatly tightened […]
The spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 128.60 suggesting a decline. However, a break of this level will allow it to reach the upper limit of its channel at 129.50. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption […]
The spot rate approaches the upper limit of its medium-term bullish channel at 1.5550 suggesting a decline. However, a break of this level will initiate a more violent bullish channel. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands […]
Today’s Support and Resistance levels: S1: 1.5273 R1: 1.5333 S2: 1.5255 R2: 1.5356 S3: 1.5236 R3: 1.5395 Technical overview: It is still an open question whether wave c of ii finished at 1.5236 and is heading higher […]
The spot rate approaches the upper limit of its medium-term bearish channel at 1.3120 suggesting a decline. However, a break of this level will initiate a violent bullish channel. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have […]
The dollar remains weak on Tuesday as investors are cautious while the Federal Reserve begins its two-day policy meeting today. There are growing expectations that the FOMC will continue with its quantitative easing bond purchases as a result of weakening US economic indicators recently. The Fed is currently buying $85 billion of bonds each month […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 98.52. Resistance 2: 98.33. Resistance 1: 98.14. Support 1: 97.90. Support 2: 97.71. Support 3: 97.51. DESCRIPTION: Please pay attention to the levels of support 3 (97.51) and resistance 3 (98.52). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, […]
RECOMMENDATION: BUY Stop (Pending Order) at 1.5501. Stop Loss at 1.5491. Take Profit at 1.5515. Alternatives: SELL Stop (Pending Order) at 1.5474. Stop Loss at 1.5484. Take Profit at 1.5460. Best regards, Arief Makmur Official Analyst of InstaForex Companies Group InstaForex Companies Group http://instaforex.com Email: [email protected] Yahoo Messenger and Skype: Arief.ifx_jakarta blog.mt5.com/arief http://www.mt5.com/forex_analysis_award/profile/index/arief […]
EUR/USD: This pair – which ranged largely last week – has begun some upward movement this week (with some limitation). The limitation can only be overridden when the price breaks the resistance level at 1.3100 to the upside, closes above it, and trends further northwards. The ultimate target for this week is around the resistance […]
RECOMMENDATION: Sell stop (pending order) at 127.99. Stop loss at 128.09. Take profit at 127.85. Alternatives: Buy stop (pending order) at 128.51. Stop loss at 128.41. Take profit at 128.65. Best regards, Arief Makmur Official Analyst of InstaForex Group InstaForex Group http://instaforex.com Email: [email protected] Yahoo Messenger & Skype: Arief.ifx_jakarta blog.mt5.com/arief http://www.mt5.com/forex_analysis_award/profile/index/arief Disclaimer: Trading […]
