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 […]
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 […]
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 […]
Today’s support and resistance levels: S1: 119.19 R1: 119.87 S2: 119.00 R2: 120.25 S3: 118.73 R3: 120.86 Technical overview: Minor resistance at 120.25 protected the upside for the next downside pressure. Even though we think, that further […]
EUR/USD: The EUR/USD went upwards on Monday as a result of some weakness in the greenback. Nevertheless, the major outlook on this market is bearish, and any further bullish attempt has been rejected at the resistance level of 1.2850. There is no indication of the bulls supremacy here. Rather, what we have is a sell […]
Intraday technical levels: The price is probably going to form a strong support at 0.9400 ( 236% of Fibonacci retracement levels in the M15 to H1 chart). The saturation is likely to take place around 0.9400. Therefore, it is possible that the market will start showing bullish signs. The daily pivot point is set at […]
RECOMMENDATION: Buy stop (pending order) at 1.5251. Take profit at 1.5265. Stop loss at 1.5241. 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 Forex (foreign exchange) on margin carries a high level of risk, and may not be […]
The dollar was broadly weaker on Monday, accelerating declines after disappointing US manufacturing data. The Institute for Supply Management (ISM) index of factory activity dropped in March to 51.3 from 54.2, missing estimates of a reading of 54.2 points. The soft data ended the recent enthusiasm in the dollar, which had enjoyed a sharp rally […]
Overview Proceeding from today’s H4 chart, the pair is still trading inside the bearish channel after it has tried to break the Resistance area of the upper boundary of the bearish channel and the Resistance level 143.15 last week. Currently the pair is trading below this Resistance area and above the Support level 142.50. If […]
Overview The H4 chart demonstrates today that silver is testing the Support area of the lower boundary of the bearish channel with the Support level 28.00 after it bounced from the Resistance level 28.45 last week. If silver manages to break this Support area and closes 4H below it, it provides a good opportunity to […]
The euro is vulnerable to troubles in the euro zone and remains near four-month lows. Market focus shifts to Italy, where the February 24-25 elections resulted in a hung parliament. Italy has now been without a formal government for a month since general elections in February were inconclusive and no candidate was able to gain […]
Technical outlook and chart setups: As seen on the 4H chart depicted here, Silver seems to have formed a double bottom at 28.00 level as it was discussed last Friday. A morning star appearing at support level is a sign of bullish reversal ahead, and one should position on the long side from here on. […]
Today is holiday in the UK. The positive data is expected in the US amid ISM Manufacturing and Construction Spending reports. Technically, the price is balanced under the Fibonacci extension on the H4 (Marlin oscillator on the H4 in the horizontal position). A sharp move may be observed both upward when the rate crosses […]
Today is a holiday in Europe. Major data on Japan and China that was published today were lower than forecast. Tankan Large Manufacturers Index in Q1 in Japan was -8 against forecast for -7. Tankan Non-Manufacturing Index was 6 vs. expectations for 8. PMI Manufacturing in China in March was 50.9 vs. 51.6. Amid the […]
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) […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair was trading upwards, just like we expected, impulsive wave 1 (coloured blue) of the bigger wave (5) (coloured green) was developing. During the Friday Asian and European sessions we could observe strong upward movement from 1.0156 towards 1.0172 level. Therefore, during the New York session […]
Data from China showed that there was an increase manufacturing activity in March, but at a slower pace compared with that seen in earlier years. The official China manufacturing purchasing managers’ index (PMI) showed expansion from February to March at a pace of 50.9 from 50.1. Any number above 50 points indicates growth while below […]
If we look at the triangle pattern of this currency, volatility should be taken into consideration. Maybe for this week the GBP/USD pair will stick between its strong support (1.5128-1.5132) and its strong resistance (1.5220-1.5224). However, if in the course of the week the GBP/USD pair can breach bellow the strong support level (1.5128-1.5132), […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has continued trading downwards, so we changed our primary wave count a little bit. During the Friday’s Asian and European sessions we could observe descending movement from 1.0426 towards the 1.0406 level. Therefore, during the New York session this currency pair has continued trading […]
For this whole week starting from April 01 to 05, 2013, this currency is going to test 1.2751 level. If this level can be breached it will try to reach 1.2671, as the primary target, and 1.2568, as the secondary target. Although the EUR/USD pair has got a reversal movement to the upsides, close above […]
Weekly technical levels: Note: R3 and S3 are good indication of the maximum range for extremely volatile days but can be exceeded occasionally. Pivot (PP) lines work well on sideways markets, as prices most likely range between the R1 and S1 line. In a strong trend, price will be lower than a pivot point line […]
Market sentiment was heavy during Monday’s Asian session after weaker-than-expected manufacturing PMI data from China, the world’s second largest economy. An official gauge of China’s factory output expanded at a slower-than-forecast pace of 50.9 versus 51.6 expected. The yen weakened briefly after slightly worse-than-expected data from Japan’s closely watched Tankan index. This is a quarterly […]
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