GBPUSD: With GBP rallying strongly and taking out the 1.6683 level, further bullish offensive is expected. A hold above here will pave the way for a run at the 1.6785 level and then the 1.6822 level and next the 1.6900 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, support comes […]
Overview: USD/JPY is expected to consolidate in a lower range. Main spotlight is on the Bank of Japan’s interest rate announcement. The BoJ is expected to leave its policy unchanged as it monitors the effects of the April 1 sales-tax increase. USD/JPY is undermined by the lower U.S. Treasury yields, negative dollar sentiment (ICE spot […]
Overview: USD/CHF is expected to trade in a lower range. It is undermined by the negative dollar sentiment, franc demand on retreating EUR/CHF cross and 0.4% monthly rise in Switzerland March CPI. But USD/CHF losses are tempered by the franc sales on soft CHF/JPY cross and dovish Swiss National Bank’s monetary policy stance. Daily chart […]
Overview: NZD/USD is expected to range-trade. It is undermined by the kiwi sales on soft NZD/JPY cross amid increased investor risk aversion. But NZD/USD losses are tempered by the hawkish Reserve Bank of New Zealand’s monetary policy stance and kiwi demand on retreating AUD/NZD cross, negative dollar sentiment, hopes of further monetary easing in China […]
Overview: GBP/JPY is expected to consolidate after hitting its one-week low at 141.12 on Monday. It is supported by the improved euro sentiment and demand from the Japanese importers. But GBP/JPY upside is limited by the increased investor risk aversion and Japan’s exports sales. Daily chart is still negative-biased as MACD and stochastics are in […]
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Around price zone of 1.6780-1.6800, a double-top pattern scenario was established with the neckline located around the price zone of 1.6620-1.6660. Daily fixation below this price zone enabled the pair to reach 1.6464 (61.8% Fibonacci) as a projection target. The recent low at 1.6465 then 1.6555 ( corresponding to the depicted uptrend line) prevented further […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – UK Manufacturing may move the sterling – 08 April 2014 Written by the easy-forex team Currencies The euro (EUR) gained more than 50 pips and climbed up to 1.3748 against the US dollar (USD). The euro rose as the policy makers of the European Central […]
Daily fixation below 1.3870 gathered enough bearish pressure to push towards the recent demand zone around 1.3700. Thus, the EUR/USD pair established a new supply level at 1.3845. It rejected the bulls on March 24 strongly so any further visits should be considered for selling. At the end of the previous week, there has been […]
This week, the USD/CAD pair has returned to test the previous Support zone around 1.0900 (50% Fibonacci Level ) which provided considerable support at retesting on February 19 where the USD/CAD pair established a consolidation zone between 1.0960 and 1.1190. The depicted chart shows that the USD/CAD bulls didn’t show enough bullish momentum above 1.1200. […]
On March 12, the bulls failed to establish an ascending top. Instead, a double-top reversal pattern was established at 1.5500. The neckline was located at 1.5200-1.5170 also corresponding to the lower limit of the depicted channel. Success of the Double Top pattern not only achieved its projection target at 1.4820-1.4800, but confirmed a bigger Head […]
The huge sell-off experiment in the tech stocks last Friday continued this week, leaving everyone with a sense of deja vu. The notion of a bubble expanding and bursting over and over. It reminds me of one of my favorite films, Groundhog Day, where a weatherman is forced to live the same day again and again […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, as we expected, the price tested the level of 1.5856. According to the daily chart, we can observe no demand bar on volume below the average, which is a sign that buying at this stage looks very risky and that we may see […]
Technical outlook and chart setups: 1. The GBP/CHF rally needs to take out 1.4850 levels at least, as discussed yesterday. This would confirm that bulls stay in control and pullbacks can be bought. It is recommended to remain flat for now and wait for reaction ahead of 1.4850 levels. 2. Resistance is at 1.4850, followed […]
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:Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April 18, 2024 We introduce you to the daily updated section of Forex…Video market update for April 18, 2024 April 18, 2024 Potential […]
The BOJ agreed to maintain the 0.10% interest rate and monetary policy unchanged, in line with expectations. Japan also will release February figures for its current account, which is expected to show a surplus of 618.1 billion yen following the 1.589 trillion yen shortfall in January. The US dollar weakened in front of the FOMC […]
The pair is in an uptrend at 0.87 levels. The pair made a high at 0.8952 on Friday. Currently, the pair is trading at 0.8876 in an Aisa’s trading session. The pair is facing a strong resistance at 0.88788 (50SMA); above this, 0.8928 is a strong resistance level. Below 50SMA, 0.8866 and 0.8853 are the […]
Daily chart: The USDX has made a bearish rebound near to the 80.50 level and now the USDX is approaching the support level of 80.11. If the USDX manages to consolidate below this level, it would be expected to fall to a support level of 79.19. On the other hand, if the USDX makes a […]
Daily chart: The GBP/USD continues to consolidate above the support level of 1.6540 where the bullish trend line is. Now, it is very likely that this pair will attempt to climb to the resistance level of 1.6663. However, we must be careful when placing buy orders below this level, since the GBP/USD could perform a […]
When the European market opens, some economic news will be released such as French Gov Budget Balance, French Trade Balance. The US will release economic data too such as the NFIB Small Business Index, JOLTS Job Openings, so amid the reports, EUR/USD will move with low volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY […]
In Asia, Japan will release the Current Account, Monetary Policy Statement, Economy Watchers Sentiment, BOJ Press Conference; the US will release some economic data such as NFIB Small Business Index, JOLTS Job Openings. So there is a big probability the USD/JPY will move with low to medium volatility during the Asian session, but with low […]
USD/CAD has been in a downtrend from 1.1279 levels. In Asia’s trading session, the pair is trading at 1.0976 levels. The pair is taking support at 1.0955 level (March 06 low). In the H4 chart, RSI is giving a positive divergence. I expect the price to move upwards to the 1.1, above this, 1.1030 levels. […]
The Dollar index after being rejected by the strong resistance at 80.60-70 has pulled back as expected by our analysis we posted yesterday. The pullback could be a back test of the breakout and could have reached the Ichimoku cloud support as we mentioned yesterday. And this is what exactly happened. The Dollar index has […]
Trading recommendations: The NZD/USD pair on March 8, 2014. The resistance is going to set at the level of 0.8660. It should be noted that the level of 0.8660 is coinciding with the ratio of 78.6% Fibonacci retracement levels. Consequently, the descending movement will probably be lower than the 0.8660 level, with the targets at […]
General overview for 08/04/2014 09:10 CET The grey rectangle area provided resistance so far and the price was rejected from the higher levels. The overall picture is still bearish, but it is lacking of a momentum to the downside as there is a bullish divergence building in this pair on AO oscillator. Please notice that […]
The Weekly technical levels of USD/CHF pair. Tips: R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well on the sideways markets as the prices are most likely to be located between the R1 and S1 lines. […]
General overview for 08/04/2014 08:45 CET The grey rectangle area provided the resistance as anticipated and those of traders who entered short positions from the levels recommended yesterday should be in profit by now. Currently, there is still a possibility of downside extension to the level of 140.70 min as the price is now in […]
EUR/USD: The price has bounced upwards from the support line at 1.3700 (after it was tested rigorously last week and early this week). The upward bounce is not strong enough to render the dominant bearish bias useless, unless the price crosses the resistance line at 1.3800 to the upside and trades further higher. In effect, […]
Asian shares discarded their early losses and were steady on Tuesday, although Japanese shares tumbled as the yen kept its profits even after the Bank of Japan held policy steady. MSCI’s widest index of Asia-Pacific shares outside Japan accrued 0.3%. Japan’s Nikkei stock average repelled the regional trend and slid 1.1% to hit its lowest levels in […]
The Japanese yen prolonged its two-day gains and a gauge of indicated rate swings in currency markets dropped to a seven-year low as the Bank of Japan is predicted to retain its monetary easing measures. Last month, BOJ Governor Haruhiko Kuroda said the chances were high the inflation will hit the central bank’s target of 2% next […]
