Asian stocks erased its winnings following the Chinese manufacturing data indicated continuous weakness in the world’s second biggest economy and Australia’s inflation climbed less than anticipated. China Overseas Land & Investment Ltd., the biggest mainland developer listed in Hong Kong, tumbled 3.7%, topping declines on the Hang Seng Index. China Mobile Ltd. dropped 2.5% following it posted its third […]
The Australian dollar plunged to the lowest in two weeks as inflation in the country slowed down and an initial China manufacturing report indicated continuing weakness in Asia’s biggest economy. Australia’s dollar dived 0.9% against the greenback by 12:31 p.m. in Tokyo and local bonds leaped as the inflation report was perceived subduing prospects for rate hike. […]
The pound ascended to the sturdiest level in seven weeks against the euro despite speculation Bank of England’s minutes due tomorrow will report policy makers are inclined to increasing borrowing costs. Sterling hit the highest in more than four years versus the US dollar despite hints Britain’s economy will keep on expanding at a faster pace than […]
EUR/USD: This is a trendless market, and the situation has been like that since last week. However, the trendless situation cannot last forever, for the price would soon go out of balance, most probably in favor of the bears. The probability of the next significant movement favoring the bears is supported by the price action […]
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European markets have opened mostly in the red today, as investors took a breather following yesterday’s gains. Meanwhile, Chinese data released earlier indicated that manufacturing activity in the world’s second largest economy continued to shrink, albeit at a slower pace in April. Closer home, traders will keep a tab on the domestic public sector net […]
Technical outlook and chart setups: 1.The EUR/JPY remain stuck at the consolidation support around 141.30/50 levels for now. A break below 140.00 would confirm that bears are back to gain control, while a break above 142.50 would test 144.00 and higher levels. Recommendations are to stay away from taking fresh positions for now. 2. Support […]
The CPI rose 0.6% in the March quarter 2014, compared with a rise of 0.8% in the December quarter 2013. It rose 2.9% through the year to the March quarter 2014, compared with a rise of 2.7% through the year to the December quarter 2013. CPI in Australia rose less than expected in Q1 mainly […]
EUR/USD The Eurozone manufacturing PMI data is set for release early morning today, with QE potentially looming, a miss could put considerable pressure on the euro. Traders can gain insight into the conditions of the European manufacturing industry early Wednesday morning, as the latest manufacturing PMI releases come out of France, Germany, and the overarching […]
Technical outlook and chart setups: 1. The GBP/CHF pair seems to be in its last leg of rally that begun from sub 1.4450 levels. Implications are that the pair may reverse/retrace from current levels (1.4900/1.4880) or from 1.4960. As seen here, the 1.4600/50 levels remain of particular interest to initiate long positions again. 2. Support […]
USD/JPY- monthly basis USD/JPY has been in an uptrend from 75.57 levels (October 2011), and it travelled all the way to 105.44 levels (January 2014). It exactly travelled up to 61.8 fib level (from June 2007 high of 124.13 to 75.57 lows). The pair made a double top at 105.44 levels and has been traveling […]
When the European market opens, some economic news will be released such as French Flash Manufacturing PMI, French Flash Services PMI, German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Services PMI.The US will release the economic data too such as the Flash Manufacturing PMI, New Home Sales, Crude Oil Inventories, so […]
In Asia, Japan will not release any economic data, and the US will release some economic data such as Flash Manufacturing PMI, New Home Sales, Crude Oil Inventories. So there is a big probability the USD/JPY will move with low volatility during the Asian and US sessions. TODAY’s TECHNICAL LEVELS: Resistance. 3: 103.16. Resistance. 2: […]
Daily chart: The USDX remains below the resistance level of 80.11 and now the USDX is trying to make corrective movements in favor of the bullish trend, so we must be alert to any formation of a bullish pattern. However, it is likely that the USDX will fall to the level of 79.50. The MACD […]
Daily chart: This pair has made a bullish movement above the support level of 1.6766, so far, the GBP/USD is approaching the resistance level of 1.6851. If the pair manages to make a breakout at that level, it would be expected to rise to the level of 1.7000. However, caution should be exercised when placing […]
The Currency market analysis for Apr 23, including significant events likely to affect the markets, buy and sell points and market calendar. My Technical Analysis Summary – Apr 23, 2014 01:16AM (GMT -4:00, DST On) Symbol Type 5 Minutes 15 Minutes Hourly Daily EUR/USD 1.3817 Moving Averages: Neutral Buy Strong Buy Strong Buy Indicators: Strong Sell Strong […]
Stocks -Europe European stocks were seen climbing on Tuesday, rising for a third day as markets across the region reopened after the Easter holiday. Stocks in the US were seen trading higher while in Asia, stocks were in between losses and gains. The pan-European Euro Stoxx 50 opened 0.34% higher, trading at 3,166.37, while the […]
Overview: USD/JPY is expected to consolidate with bullish bias after hitting the two-week high at 102.71 on Monday. It is underpinned by the weaker yen sentiment after Japan March trade deficit came in wider than expected at Y1.45 trillion (versus Y1.07 trillion forecast), yen-funded funded carry trades amid positive risk appetite (VIX fear gauge eased […]
Overview: USD/CHF is expected to trade in higher range. It is supported by the positive dollar sentiment, dovish Swiss National Bank’s monetary policy stance and franc sales on buoyant EUR/CHF cross. But the USD/CHF gains are tempered by the franc demand on buoyant CHF/JPY cross. Daily chart is positive-biased as MACD and stochastics is bullish; […]
Overview: GBP/GBP/JPY is expected to trade with bullish bias. It is supported by the positive investor risk appetite, negative yen sentiment and demand from Japan importers. But GBP/JPY gains are tempered by Japan’s exporter sales. Daily chart is mixed as MACD is bearish, but stochastics is in bullish mode. Trading recommendation: The pair is trading […]
Overview: NZD/USD is expected to consolidate with bearish bias after hitting the two-week low at 0.8546 on Monday. It is undermined by the positive dollar sentiment, continued impact from softer-than-expected New Zealand first-quarter CPI and Kiwi sales on buoyant AUD/NZD cross. But NZD/USD losses are tempered by the hawkish RBNZ monetary policy stance and Kiwi […]
Picture this situation: it’s late at night, you’ve just fallen asleep and a buzzing sound stirs you. You know exactly what it is – one of those annoying mosquitoes that seem to be hovering over your ear. You prepare yourself; wait for the opportunity and SLAP! Silence. Then, sure enough, you hear it again. You […]
Hello eTorians!! The recent USD roller coaster trend continued over the last 7 days too and it was the greenback’s turn to rise up. Despite Easter, and the resulting calm in the markets, the US Dollar recovered on all other currencies. The result for our Emerging Social Investors group is a good performance and an […]
On March 24, by breaking down 1.5175, the Double Top pattern could not only achieve its projection target at 1.4820-1.4800, but confirm a bigger Head and Shoulders pattern as well. The bears managed to break down 1.4950 corresponding to 50% Fibonacci level last week (the nearest support level). This exposed the price level of 1.4750 […]
The depicted chart shows that the USD/CAD bulls failed to show enough bullish momentum above 1.1200. The bears took advantage of pushing the pair towards price zone of 1.0910-1.0850 (50-61.8% Fibonacci levels). The USD/CAD pair returned to test the previous support zone around 1.0900 (50% Fibonacci level) which previously provided a considerable support at retesting […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – The sterling climbed up to its four year high – 17 April 2014 Written by the easy-forex team Currencies The euro (EUR) rebounded from is low at 1.3789 up to 1.3850 against the US dollar (USD). The euro erased part of its losses as the […]
Previously, around the price zone of 1.6780-1.6800, a Double Top pattern scenario was established during February and March. The full projection target was hit at 1.6464 (61.8% Fibonacci) after the bears managed to fixate below 1.6600 (reversal pattern neckline). The recent lows at 1.6465 as well as 1.6555 (corresponding to the depicted uptrend line) prevented […]
In March, the failure of the bulls to fixate above 1.3880 allowed enough bearish pressure to be applied on the pair towards the recent demand zone around 1.3700. At retesting of 1.3700, significant bullish pressure was applied pausing the recent slide off 1.3965 which led to another ascending impulse towards 1.3880. On April 11, daily […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, as we expected, the price tested the level of 1.6040, we are still waiting larger movement on this pair. According to the 1H timeframe, we can observe buying climax bar (ultra high volume bar) on resistance zone at the price of 1.6080. Just […]
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:Analysis of GBP/USD pair on May 24th. Another British report… May 24, 2024 The wave pattern for GBP/USD remains quite complex. A successful…Weekly Forex Outlook: 24/05/2024 – US PCE inflation and… May […]
