I’m a Huge Football fan (Americans call it Soccer), and to me, this trading week is looking similar to yesterday’s Valencia vs Sevilla Match every minute that passes. Let me elaborate. Both teams were fighting to be finalists in the Europa League competition. Last week, Sevilla had won 2-0 at it’s field, and since then, […]
Overview: USD/JPY is expected to consolidate in a higher range as markets await 1230 GMT U.S. April non-farm payrolls (expected to have increased by 215,000) and unemployment rate (expected to have slipped to 6.6% from 6.7%). No strong cue for yen-funded carry trades from Wall Street as the U.S. stocks finished near the flat line […]
Overview: USD/CHF is expected to consolidate with bearish bias as markets await U.S. non-farm payrolls report. USD/CHF is undermined by the franc demand on soft EUR/CHF cross. But USD/CHF downside is limited by the dovish Swiss National Bank’s monetary policy stance and positions adjustment before the weekend. Daily chart is negative-biased as MACD and stochastics […]
GBP/USD recently reached the buy target 1.6900 that was set in our earlier technical analysis report for this currency pair. The price has been rising strongly in the last few trading weeks – following the earlier breakout of the daily Triangle from February (as you can see from the daily GBP/USD chart below). The breakout […]
Cotton recently reached the resistance level 0.9400 that was mentioned in our previous report for this instrument. The price earlier corrected up from the round support level 0.9000 – after a few unsuccessful attempts to break down below the support area surrounding this price level. The support zone around 0.9000 was strengthened by 50% and […]
FTSE 100 recently reached the buy target 6800.00 that was set in our recent report for this index. The price has been rising steadily in the last few trading sessions – after the previous breakout of the daily Triangle from the start of February (the lower support trendline of this Triangle stands parallel to the […]
Futures for copper fell on Friday as it heads for its biggest weekly drop since March, as the Purchasing Managers Index (PMI) for China’s manufacturing sector grew lower than forecasted and traders waits for the US jobs report due later in the day. Futures for the metal for the delivery in three months on the […]
Overview: NZD/USD is expected to consolidate in a higher range as markets await U.S. non-farm payrolls report. NZD/USD is supported by the Kiwi demand on soft AUD/NZD cross and NZD-USD interest differential. But NZD/USD upside is limited by the concerns over China’s economy, weaker commodity prices and positions adjustment before the weekend. Daily chart is […]
Overview: GBP/JPY is expected to consolidate as markets await U.S. non-farm payrolls report. GBP/JPY is supported by the demand from Japan importers. But GBP/JPY upside is limited by the Japan exporter sales and positions adjustment before Japan long-weekend. Daily chart is mixed as MACD is bullish, five-day moving average is above 15-day MA and is […]
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 May 10, 2024 May 10, 2024 Potential for the further rally on USDJPYThe material has been…Weekly Forex Outlook: 10/05/2024 – US inflation numbers to… May 10, 2024 […]
GBPJPY – With the cross reversing its Wednesday losses on Thursday to close higher, further upside is now envisaged. In such a case, resistance comes in at the 173.13 level where a break will open the door for additional gains towards the 174.00 level. Further out, resistance stands at the 174.84 level and then the […]
The weekly pivot point: 1.3824 Overview: As expected, the price of the EUR/USD pair is going to turn to bearish sentiment from the level of 1.3892 because the resistance has already set at the level of 1.3892 and the double top was also placed near the resistance at 1.3887. Accordingly, it will a good sign […]
Overrview: The first key level of GBP/USD pair will set at the level of 1.6875 and the second key level will set at the 1.6840 level today (on April 2, 2014). Moreover, it should be noted that the level of 1.6920 is representing the resistance and the double top at the same price. Additionally, the […]
The Dollar index has bounced today off its low at 79.40 just above the critical support of 79.20. We said in our previous analysis that the lows would be challenged. This is what happened and what we expected when 79.50 was broken. Bulls are showing signs of strength. The bounce is such a sign. But […]
Payroll Day Jitters Morning Report: 09:00 London • This morning, it seems that market participants are keeping their powder dry ahead of this afternoon’s big US jobs announcement. As well they might, with the situation in Ukraine developing by the hour and US companies still producing their latest earnings figures. […]
On a daily basis IronFX Head of Global FX strategy Marshall Gittler comments on the world economies and speaks about the forex calendar of economic announcements. Join us for more technical and fundamental analysis: http://www.ironfx.com To get the latest Forex trading news you should: • Like us on Facebook: https://www.facebook.com/IronFX • Follow us on Twitter: […]
European markets have opened mostly in the red today. Market participants eagerly await today’s US non-farm payrolls data which is expected to show a pickup in hiring in April. Closer home, traders will eye construction activity data which is forecast to show a drop in April. Related Posts:Video market update for May 10, 2024 May […]
Technical outlook and chart setups: 1. The EUR/JPY pair is unchanged for now, oscillating between the channel support and resistance between 141.00/20 and 142.30/50 levels. The pair has just bounced off the channel support from 141.20 levels; and a push further would move towards 142.50 and 143.00 as seen here. Recommendations are to remain flat […]
General overview for 02/05/2014 07:30 CET The market is trading in an intraday range zone between the levels of 141.75 and 142.00, but the overall bias is bearish. However, the current wave progression looks like the correction in wave (ii) green has not been finished yet and it might evolve into more complex and time […]
General overview for 02/05/2014 07:15 CET The triangle idea has been invalidated and the market has made an irregular correction instead. So far the wave progression looks impulsive and it even might be the start of the fifth wave down, but to confirm this possibility, the market must break below the wave 3 red low. […]
Daily chart: The USDX is forming a higher low pattern below the 79.80 level. If the USDX does make a breakout at the support level of 79.45, it’s expected to fall to the level of 79.19. Howeve, it is expected to rise to the level of 79.85 if the USDX makes a bullish rebound at […]
Daily chart: GBP/USD remains above the support level of 1.6851 and now this pair is trying to form a bullish pattern above that level. However, keep in mind that the GBP/USD may fall to the support level of 1.6851, but that would be part of this pair’s corrective movements. The MACD indicator is in positive […]
Today’s U.S. non-farm payrolls data will be watched closely by traders. The consensus estimate for today’s figure stands at 215,000. Manufacturing picked up in April after consumer spending surged during the prior month, showing the U.S. economy is poised to expand in the second quarter. The Institute for Supply Management’s factory index rose to 54.9, […]
Australia PPI annual rate (+2.5%) in the first quarter (expected +2.2%), the previous value (+1.9%); on a quarterly basis PPI +0.9% versus expected +0,6%, the previous value +0,2%. The pair has been in a downtrend from 0.9460 levels. The pair is taking support at 200EMA in the daily chart. It seems it will pause its […]
Technical outlook and chart setups: 1. The GBP/CHF pair is seen to be stalling ahead of 1.4900 levels. Since last 2 trading sessions, the pair has produced indecision candles; a bearish day here will confirm that it is heading towards 1.4700 levels at least. Recommendations are to remain short, risk remains at 1.4950/60 levels for […]
EUR/USD: In spite of the struggle between the bulls and the bears, this pair has been able to maintain the bullish bias. The price is currently trading above the support line at 1.3850: the next target is at the resistance line at 1.3900. The resistance lines at 1.3850 and 1.3800 should pose a hindrance to […]
When the European market opens, some economic news will be released such as Spanish Manufacturing PMI, Italian Manufacturing PMI, Final Manufacturing PMI, Unemployment Rate. The US will release the economic data too such as the Factory Orders m/m, Average Hourly Earnings m/m, Unemployment Rate, Non-Farm Employment Change, so amid the reports, EUR/USD will move with […]
In Asia, Japan will release the Household Spending y/y, Unemployment Rate, Monetary Base y/y and the US will release some economic data such as Factory Orders m/m, Average Hourly Earnings m/m, Unemployment Rate, Non-Farm Employment Change. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with […]
GBP/USD Review- The CIPS/Markit manufacturing purchasing managers’ survey gave a better-than-expected reading of 57.3, up from 55.8 in March. The pound rallied to a fresh five-year high of 1.6921 against the US dollar. The pound ticked up again to near five-year highs after strong manufacturing figures boosted the UK economic outlook and raised expectations of […]
Overview: USD/JPY is expected to trade with bearish bias. Liquidity is thin as financial markets in several countries in Asia and Europe were shut today for a holiday. USD/JPY is undermined by the negative dollar sentiment (ICE spot dollar index last 79.50 versus 79.81 early Wednesday) on much weaker-than-expected 0.1% annual rate expansion in U.S. […]
