The spot rate approaches the upper limit of its medium-term bearish channel at 1.3060 suggesting a decline. However, a break of these levels 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 stabilized […]
The yen gained on safe haven demand after disappointing manufacturing data from China indicated sluggishness in the recovery of the world’s second largest economy. The HSBC China Purchasing Manager’s Index (PMI) weakened more than expected in April, falling to 50.5, compared with a final 51.6 reading for March. The number was below the 51.5 estimate […]
Bearish rejection around 1.0300 was followed by multiple days of indecision within the same consolidation range 1.0225 – 1.0330 until the pair gave obvious daily closure below 1.0220 which opened the way towards the projection target at 1.0110. Price level 1.0085 stood as a solid intraday support which provided a good BUY entry which is […]
Overview The H4 chart demonstrates today that silver failed again to break the Support level 23.00 since last week and currently is trading between it and the Resistance level 23.90. Given that silver manages to close 4H below the Support level 23.00 and takes a downward move till reaching the Support level 22.50, it provides […]
As suggested last week, price level 1.5230 stood as an Intraday Support Level. It pushed the pair towards 1.5300 then 1.5360. Price Level 1.5360, corresponding to April 5 high, provided considerable intraday resistance which expressed significant bearish price action leading back again to 1.5230. Recently, Reversal Head and Shoulders pattern was expressed on testing 1.5360. However, […]
Overview: USD/CHF is trading in higher range. The rate is underpinned by positive USD sentiment; CHF sales on buoyant EUR/CHF cross. But USD/CHF gains tempered by CHF demand on buoyant CHF/JPY as weak yen sentiment supports the cross — risk sentiment was boosted after the International Monetary Fund said markets had overreacted to recent lackluster […]
Technical outlook and chart setups: Gold continues to move in a sequence of higher highs and higher lows forming lows at 1,320.00 level recently. The measured upside targets for the yellow metal are 1,450.00 and then 1,520/30 as depicted here as Fibonacci extensions in the RED. It is therefore recommended to remain long for now […]
Technical outlook and chart setups: As seen here, the metal is still subdued in a trading range and we are still waiting for a break above 24.00 level convincingly. Immediate targets for the metal are 25.00 and 26.00/27.00 levels as Fibonacci extension levels are depicted in RED. Please note that 26.00/50 levels is the area […]
Overview: GBP/JPY is trading with bearish bias after hitting six-day high. The rate is underpinned by weak JPY sentiment after leaders of G-20 nations endorsed Japan’s aggressive bond purchase program; euro demand from Japan importers; improved investor risk appetite. But GBP/JPY gains tempered by Japan exporter sales. Daily chart is positive-biased as MACD is […]
On Friday, Britain lost its top credit grade at Fitch ratings. Rating agency lowered the UK to AA+ from AAA with a stable outlook, it said in statement in London. The pound was under additional pressure which was made by US stock market. General Electric lost 4% on Friday, McDonalds lost 1.95%, and IBM lost […]
USD/CAD Elliott Wave Last week the USD/CAD pair has been trading sideways, impulsive wave (3) (coloured blue) of the bigger wave C (coloured red) has started its development. During the Friday’s European session we could observe descending movement from 1.0250 towards 1.0230 level and we can consider this move as the end of the sub-wave […]
AUD/USD Elliott Wave Last week the AUD/USD pair has been trading downwards, corrective wave (A) (coloured green) of the bigger wave Y (coloured red) has been developing. During the Friday’s Asian and European sessions we could observe strong ascending movement from 1.0281 towards the 1.0357 level. Therefore, during the New York session this currency did […]
Read the Daily Market Report from Dave Evans, Professional Trader Gold recovers as yen hits lowsMorning Report: 08.30 London • This morning, gold is travelling well, with the precious metal up another 1.45% this morning. It still has some way to go to recoup recent […]
The yen weakened further in early Monday trading as currency markets reacted to the G20 meeting over the weekend. Investors were anxious to see if the G20 would criticize Japan for its recent monetary policies that resulted in weakening the yen, and therefore engaging in a currency war and unfair competition. The yen hit a […]
If we look at Gold monthly charts, we can see celarly the price curve still trade above the “kumo” and it means they’re still in the uptrend. The Tenkan Sen already crossed bellow the Kinjun Sen; the price curve already crossed the Kinjun Sen, but the Kinjun Sen is still flatener. The Chikou Span now […]
The spot rate approaches the lower limit of its medium term bulish channel at 1.3060 suggesting a rebound. However, a break of these levels will free a large potential and initiate a violent bearish channel. Technical indicators do not provide clear signals but until the support is not broken the assumption of a rebound is […]
EUR/USD: The EUR/USD has managed to stay in the bullish zone, in spite of its recent turbulence. Last week was characterized by serious tussle between the bull and the bear, yet the price did not go below the support line of 1.3000. This support line would hold and the price could re-test the resistance line […]
Gold approaches the upper limit of its medium term bullish channel at 1,432 suggesting a decline. However, a break of these levels 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 have greatly […]
The spot rate approaches the lower limit of its medium term bearish channel at 1.5210 suggesting a rebound. However, a break of these levels will free a large potential and initiate a more violent bearish channel. Technical indicators provide buy signals and until the support is not broken the assumption of a rebound is most […]
The following are highlights of comments from finance officials made at the G20 meeting held in Washington DC on April 18-19. G20 COMMUNIQUE ON FISCAL POLICY: “Maintaining fiscal sustainability in advanced economies remains essential. Advanced economies will develop medium-term fiscal strategies by the time of the St Petersburg Summit in line with the commitments made […]
Sterling is weak against the dollar on Friday after the United Kingdom lost its coveted triple-A credit rating after being downgraded by Fitch Ratings agency. Fitch is the second ratings agency to cut the UK top-notch rating, as it cited citing a weaker economic and fiscal outlook, and lowered the rating by one notch to […]
Overview The H4 chart demonstrates today that silver is still trading between the Support level 23.00 and the Resistance level 23.90 and just failed to break the Resistance level again. Given that silver manages to close 4H below the Support level 23.00 and takes a downward move till reaching the Support level 22.50, it provides […]
Markets were focused on the G20 meeting in Washington DC this Friday. Japanese Finance Minister Taro Aso said that Japan’s monetary policies were not opposed by the G20, which opens the door to further yen weakness. This helped strengthen the euro, mainly on the back of EURJPY which broke the key 130.00 yen level and […]
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:Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500… April 16, 2024 We introduce you to the daily updated section of Forex…What’s next for markets amid Israel-Iran tensions? – Special… April 16, […]
FOREX Daily Outlook by Easy-Forex.com AUD/USD session preview Thursday April 11th Movements in the AUD are being dominatedmainly by the AUD/JPY cross and to a lesser degree by the strong uptrend in theNZD. The shock-and-awe tactics of the BOJ are still encouraging speculators to sellthe Yen and a technical break higher in AUD/JPY will have […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading downwards, just like we expected, impulsive wave (1) (coloured blue) of the bigger C wave (coloured red) has been developing. During the Thursday’s Asian and European sessions we could observe strong descending movement from 1.0276 towards 1.0230 level and we can […]
Despite the negative data, the pound is growing. UK Retail Sales in March, as it was expected, fell 0.7% vs. growth for 2.1% in February. Data on the US was weak as well. However, yesterday the FTSE100 index was flat vs. drop of the German DAX on 0.39%, French CAC40 fell 0.01%, and the US […]
AUD/USD Elliott Wave For the last few days the AUD/USD pair has been trading downwards, corrective wave (A) (coloured green) of the bigger wave 2 (coloured purple) has been developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.0268 towards the 1.0337 level and this move only confirms our […]
Yesterday data on US was weaker than expected. The number of US Initial Jobless Claims was 352K vs. forecast for 349K. Philadelphia Fed Index in April was 1.3 vs. forecast for 2.7. US Leading Index in March dropped from 0.5% to -0.1%, forecast was 0.1%. DJIA fell 0.56%, the euro grew 20 points. However, there […]
Technical outlook and chart setups: The single currency pair is offering trading opportunities on both sides as discussed yesterday and what is seen on the chart view here. 129.00/10 is where the sloping line of resistance passing right now, exactly where the pair is trading. A bullish breakout here will push it towards 130.00 and […]
