Read the Daily Market Report from Dave Evans, Professional Trader Gold plunges further – Is it time to buy?Morning Report: 08.30 London • This morning, Asian markets were mixed ahead of tomorrow’s Bank of Japan meeting. The European session has started with slight negative bias, […]
EUR/USD: There was a serious threat to the primary bearish trend on this pair, but while a confirmation of the possible new trend was being awaited, it happened that the threat was only a correction. Since it has failed to cross the EMA 56 to the upside, the market would soon test the support line […]
Euro extended lower in Wednesday’s Asian session, continued to be weighed down after yesterday’s sharp drop following gloomy euro zone data. Focus now shifts to Thursday’s European Central Bank meeting. If Draghi doesn’t take steps to alleviate concern in the euro zone debt crisis, this will trigger a risk off move. EURUSD opened in Asia […]
The dollar was boosted in Tuesday’s US trading session by upbeat US economic data which showed factory orders rose 3 percent in February, the most in five months. The gain was fueled by increased aircraft orders. The dollar rose 0.2 percent against the yen, to a high of 93.54 yen. Meanwhile, the yen is also […]
Lack of the bullish steam seemed to exist during the last few weeks and the pair seems to be under negative pressure which was manifested on Tuesday in the massive bearish daily candlestick. 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 […]
The GBP/USD pair failed to remain below 1.5155 leading its way towards the upper limit of the current consolidation range around 1.5250. Looking at 1.5250 which was visited yesterday, the GBP/USD pair expressed quite significant bearish price action which is manifested in the 4H shooting star candlestick followed by the bearish engulfing candlestick. The […]
Overview The H4 chart demonstrates today that silver manages to break the Support area of the lower boundary of the bearish channel and the Support level 28.00 and currently is trading below it. If silver manages to close 4H below it, it provides a good opportunity to sell below the Support level 28.45 and the […]
European markets opened for the first time since Thursday, returning from the Easter holidays to a series of euro zone economic data, which was the main driver behind the fall in the euro today. The Euro zone unemployment rate hit a record 12 percent in March while final manufacturing PMIs are well into contraction territory […]
Technical outlook and chart setups: As depicted here on the 4H chart view, a double bottom is still unfolding in Silver prices. After producing a morning star reversal signal yesterday, it seems prices are once again testing the lows/support at 28.00 before reversing. Please note that structure still remains favorable for bulls; till 28.00 level […]
Technical outlook and chart setups: The single currency pair has been trading near lows/supports since last 2 trading sessions now. Nevertheless, the overall structure remains the same as depicted on the 4H chart view here, till our measured immediate support at 118.75-119.00 remains intact. In the short term charts indicate a bounce on the higher […]
Technical outlook and chart setups: The single currency pair is approaching 1,615.00 resistance level slowly but surely. As discussed yesterday, the overall structure since last several trade sessions is in the sideways/consolidation. The pennant formation here is of constant resistance (1,615.00) and increasing supports (immediate is 1,580.00). Such pennants normally have the tendency to break […]
Technical outlook and chart setups: The structure remains unchanged from what was discussed yesterday. As seen on the 4H chart view depicted here, the single currency pair has broken the inner line of support within the counter trend and also tested the backside of the same (which acts as resistance), before pulling back below 1.44 […]
The euro has been falling since a slew of disappointing economic data released for the Euro zone during the European session on Tuesday. Unemployment hit a record high and the Euro zone economy has contracted for four straight quarters. According to Eurostat, the EU’s statistics office, unemployment across the 17 European Union countries that use […]
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:Weekly Forex Outlook: 12/04/2024 – More inflation data on… April 12, 2024 CPI numbers due in the UK and Japan. China to also…Video market update for April 11, 2024 April 11, 2024 […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair was trading upwards, just like we expected, impulsive wave 1 (coloured blue) of the bigger wave (5) (coloured green) was developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.0385 towards the 1.0430 level and we can consider this […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair was trading downwards, impulsive wave 1 (coloured blue) of the bigger wave (5) (coloured green) was developing. During the Monday’s Asian and European sessions we could observe ascending movement from 1.0165 towards the 1.0182 level and we can consider this movement as the end of […]
Sterling held firm ahead of the UK manufacturing Purchasing Managers’ Index (PMI) data, but began falling just before the release that was due at 0828 GMT. Markets expected the manufacturing sector contracted further in March, as based on forecasts. In fact, according to a report by Markit/CIPS, the PMI fell more-than-expected to 48.3 versus 48.9 […]
Today at 12:30 GMT+4 UK Manufacturing PMI in March is issued. It is expected to be 48.7 vs. 47.9 in February. Data on UK Net Lending to Individuals is also revealed; it is expected to be 0.9 billion pounds against 0.6 billion pounds. UK Mortgage Approvals are forecast to be 54K against 55K in January. […]
Yesterday the data on PMI Manufacturing in the US in March was released. It was worse that forecasts but the markets’ reaction was moderate. US Construction Spending was up 1.2% against expectations for 1.1%. The information from Europe and the US which has been released today was negative. Spain plans to revise down its economic […]
FOREX Daily Outlook by Easy-Forex.com SPECIAL NOTE Opening and Closing times of Products for Good Friday and Easter Monday 29 th March 2013 – 1 st April (Times in GMT) FOREX – Regular Trading GOLD – Thursday 22:00 (Close) & Sunday 22:15 (Re-Open) SILVER – Thursday 22:00 (Close) & Sunday 22:15 (Re-Open) CRUDE OIL (WTI) […]
The spot rate is currently testing the intermediate resistance of its medium-term bullish channel at 1.5260 suggesting a decline. However, a break of this level will allow it to reach the upper limit of its channel at 1.5360. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption […]
Gold is currently testing the upper limit of its medium-term bearish channel at 1,604 suggesting a decline. However, a break of this level will initiate a violent bullish channel. Technical indicators provide sell signals, but the rate approaches overbuy zone and until the resistance is not broken the assumption of a decline is most […]
The spot rate approaches the lower limit of its medium-term bearish channel at 119.10 suggesting a rebound. However, a break of this level 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 spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 1.2880 suggesting a decline. However, a break of this level will allow it to reach the upper limit of its channel at 1.2960. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption […]
Read the Daily Market Report from Dave Evans, Professional Trader Yen extends bull runMorning Report: 08.30 London • This morning, the Japanese yen is continuing to strengthen ahead of a highly anticipated Bank of Japan meeting on Thursday. The USD/JPY has dropped for the for […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 93.54. Resistance 2: 93.36. Resistance 1: 93.18. Support 1: 92.95. Support 2: 92.77. Support 3: 92.58. DESCRIPTION: Please pay attention to the levels of support 3 (92.58) and resistance 3 (93.54). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 […]
Today’s Support and Resistance levels: S1: 1.5309 R1: 1.5350 S2: 1.5282 R2: 1.5428 S3: 1.5363 R3: 1.5496 Technical overview: We are still looking for more evidence that a new major rally has begun. That is true, we […]
Overview: The NZD/USD pair (Kiwi Dollar) continues its movement straight from 0.8300 (at H4 chart 38.2% of Fibonacci retracement levels, as well it is probably going to retest it again). Therefore, the Kiwi has shown signs of strength following the break of the highest level of 0.8300, so it will be a good sign to […]
RECOMMENDATION: BUY stop (pending order) at 1.0451. Take profit at 1.0465. Stop loss at 1.0441. 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 Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not […]
The Reserve Bank of Australia left its benchmark interest rate unchanged at 3 percent to match a half-century low. The central bank said that recent economic data suggest that there is growth in household spending. The RBA statement indicates the central bank is becoming more comfortable with keeping the rates where they are. The Australian […]
