The spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 121.00 suggesting a decline. However, a break of this level will allow it to reach the upper limit of its channel at 123.20. 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 1.5240 suggesting a decline. However, a break of this level will allow it to reach the upper limit of its channel at 1.5320. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption […]
Gold approaches the lower limit of its medium-term bullish channel at 1,593 suggesting a rebound. However, a break of this level will free a large potential and initiate a violent bearish channel. Technical indicators provide sell signals, but until the support is not broken the assumption of a rebound is most likely. Bollinger bands […]
Weekly technical levels: Signal: The first weekly resistance will be formed at a strong level for short selling at the level of 1.2994 (it should be noted that the level of 1.3047 is going to form a double top) with the first target of 1.2878 (the weekly pivot point for April 1-5, 2013), it […]
TODAY’s TECHNICAL LEVELS: Resistance. 3: 94.58. Resistance. 2: 94.40. Resistance. 1: 94.21. Support. 1: 93.98. Support. 2: 93.80. Support. 3: 93.61. DESCRIPTION: Please, pay attention to the levels of support 3 (93.61) and resistance 3 (94.58). Normally, when the level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, […]
The spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 1.2840 suggesting a decline. However, a break of these levels will allow it to reach the upper limit of its channel at 1.2920. Technical indicators do not provide clear signals but until the resistance is not broken a decline is most likely. Bollinger Bands have greatly tightened […]
EUR/USD: As a result of low volatility in the market, the EUR/USD simply moved in a sideways manner on Friday. The bearish trend is still valid, and when the volatility resumes in the market, the price could test the support line of 1.2750 again. This means a short trade ought to be sought. Ultimately, the […]
Currency markets were quiet in the US Session as they were in previous sessions today since most markets were closed for the Good Friday holiday. Major G10 currencies just traded in tight ranges today. There were no key economic data. The only data released during the session was US personal spending which rose 0.7 percent […]
The daily closures, which have been observed during this week, imply the continuation of the sell-off afterwards, provided that the pair remains below 1.5155-1.5220 (major supply zone on the 4H chart). However, this zone was broken last week. On the 4H chart, the pair has been trending down within the depicted short-term bearish channel […]
The USD/CAD pair is holding firmly above its broken resistance at 1.0100 level. However, lack of the bullish steam seemed to exist during the last two weeks and the pair seems to be under negative pressure which was manifested on Tuesday in the massive bearish daily candlestick. Last week we got some bearish rejection around […]
Overview The H4 chart demonstrates today that the metal took a slightly downward move after its rebound from the upper boundary of its bearish channel. Currently it is trading inside it and below the Support level 28.45. If silver manages to break this Support level and closes 4H below it, it provides a good […]
Currency markets were quiet in the European session, with very low liquidity and volume due to the long Easter holiday and most major markets being closed today. There were no key economic data releases during the session. Euro was little changed against the dollar during the session, trading within yesterday’s range. EURUSD edged up to […]
Technical outlook and chart setups: Looking into the 4H structure here, prices have surprisingly fell aback 28.00 level. This could be best seen as a possible double bottom formation at 28.00 level, which is also defined as the 0.785 Fibonacci support for the entire upswing from sub 26.00 level to 35.00 level in 2012. Please […]
Technical outlook and chart setups: The yellow metal has retraced lower up to 1,585.00 level as we had been discussing earlier. Believe it or not, these intraday dips are excellent buy opportunities. It is expected that the rally should materialize by next week, taking prices towards 1,660.00 level. Supports are seen from 1,570.00 level, followed […]
Overview: GBP/USD: The price is still between the levels 1.5160 and 1.5110, so it is recommended to be cautious while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then, the market will probably indicate the signs of a bullish trend. In other words, BUY-deals are […]
This past week we received the final 4th Quarter GDP number which came in at 0.39%. The total 4th Quarter growth was terrible, plain and simple. Based on the performance in the equity markets that we have seen thus far in the 1st Quarter of 2013 investors would expect strong GDP growth. However, the only […]
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 […]
EURUSD: The trend is bearish and the pair would continue to drop, but this would not come without some short-term rallies on the market. The indicators currently support a downside bias. The price is now below the resistance line of 1.2850 and would eventually plunge towards the support line at 1.2750. USDCHF: This tardy […]
As it was expected, the data that was released yesterday could not give impulse to downward movement. However, it kept the markets from falling. Retail Sales in Germany in February rose 0.4% against forecast for a 0.6% drop. The number of unemployed increased by 13K against expectations for a 2K decrease. US GDP grows by […]
AUD/USD Elliott Wave For the last three days the AUD/USD pair was trading downwards, just like we expected, corrective wave A (coloured blue) of the bigger wave (4) (coloured green) was developing. Yesterday during the second half of the Asian and European sessions we could observe descending movement from 1.0439 towards the 1.0395 level […]
USD/CAD Elliott Wave For the last few weeks the USD/CAD pair was trading in a downwards channel, corrective wave Y (coloured blue) of the bigger wave (4) (coloured green) was developing. Yesterday during the Asian session we could observe descending movement from 1.0173 towards 1.0141 level and we can consider this movement as the end […]
Yesterday the pound was stable amid European situation. By the end of the day it had added 60 points. It is holiday in the UK today, Good Friday. On Monday it will be holiday as well, Easter Monday. From the technical point of view, the price has reached the point of interjection of balance line […]
The Asian session saw a quiet, holiday-thinned market due to the Western Easter holidays. Tokyo was the only major center open and most major markets will be closed until Tuesday. Most yen pairs were trading in this week’s ranges, yen being supported due to repatriation flows for month-end and quarter-end squaring of positions by traders […]
Market direction was mostly driven by month-end and quarter-end flows. This led to unwinding of the dollar and flows into most G10 currencies like euro and sterling. Euro was on the heavy side in the early part of the European session after being weighed down by disappointing German employment data. Meanwhile, a separate report later […]
The daily closures, which have been observed during this week, imply the continuation of the sell-off afterwards, provided that the pair remains below 1.5155-1.5220 (major supply zone on the 4H chart). However, this zone was broken last week. On the 4H chart, there is a previously mentioned bearish Head and Shoulders pattern being confirmed […]
EURUSD: No matter what happens on this pair, the major outlook is bearish. The price has dropped by over 250 pips this week, and it would drop further in the trading days to come. There has been a bounce off the resistance line of 1.2750, which proffers a new short opportunity. This is because the […]
The USD/CAD pair is holding firmly above its broken resistance at 1.0100 level. However, lack of the bullish steam seemed to exist during the last two weeks and the pair seems to be under negative pressure which was manifested on Tuesday in the massive bearish daily candlestick. Last week we got some bearish rejection […]
The European session on Thursday was calm, ahead of a long Easter holiday in most countries, where markets will be closed from Friday until Tuesday. Euro remained heavy, trading most of the session below $1.28, and disappointing German unemployment data adding to losses, while Italy continues to contribute to market uncertainty. Concerns over Cyprus and […]
Euro fell sharply against the sterling and yen after disappointing German jobs data. The single currency extended a decline after a report showed unemployment rose unexpectedly in March to a seasonally adjusted 2.94 million, marking a 13,000 increase. The consensus forecast was for the number of jobless to fall by around 2,000. The unemployment rate […]
FOREX Daily Outlook by Easy-Forex.com Who will be Cyprussed next? The euro (EUR) dropped sharply against the US dollar (USD) before recovering somewhat. The pair touched a six month low at 1.2750 before correcting slightly to 1.2790. The single currency is seen tumbling almost daily the past two weeks as investors are looking at which […]
