The US dollar plunged on Monday and lost its footing as investors anticipate minutes from the Federal Reserve’s last meeting this week and European Central Bank officials implied mixed signals on possibilities for more aggressive monetary policy action. The euro rallied from an almost six-week low set at the end of last week, increasing to $1.3742 versus $1.3701. […]
Whether you’re a social investor, or a beginner trader braving the markets all by yourself, it’s always best to come at the markets knowing what to expect and how to handle the situations that can arise. The following list contains books that are highly recommended both for beginner and for advanced investors who wish to […]
European equities pare early session gains to trade lower Tuesday, pressured by fresh geopolitical drama together with declines on Wall Street overnight where tech stocks continued their descent amid worries about inflated valuations — Amazon, Facebook, Twitter and LinkedIn all registered fat losses. European tech shares fell sharply in the previous session as the declines […]
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Overview: USD/JPY is expected to trade in lower range. It is undermined by the selling of the yen crosses amid increased risk aversion (VIX fear gauge rose 4.41% to 13.96) as S&P tumbled 1.25% Friday and weaker dollar sentiment after U.S. created less-than-expected 192,000 new jobs in March (versus 200,000 forecast), while the unemployment rate […]
Overview: USD/CHF is expected to consolidate with bearish bias after hitting its seven-week high at 0.8952 on Friday. It is supported by the franc sales on soft CHF/JPY cross and on buoyant EUR/CHF cross and dovish Swiss National Bank’s monetary policy stance. But USD/CHF gains are tempered by the weaker dollar sentiment. Daily chart is […]
Overview: NZD/USD is expected to trade in higher range. It is supported by the weaker dollar sentiment, hopes of further stimulus in China and hawkish Reserve Bank of New Zealand’s monetary policy stance. But NZD/USD gains are tempered by the kiwi sales on NZD/JPY cross amid increased investor risk aversion. Daily chart is still negative-biased […]
Overview From the today’s H4 chart, we find that the pair opened this week above the support level of 170.50 and below the resistance level of 171.50. Currently, it is testing the resistance level of 171.50 to continue its bullish trend. Given that the pair continues its bullish movement and closes 4H above the resistance […]
Last week was certainly stormy. Speeches from Mario Draghi and Janet Yellen produced storms within the markets. The international situation was far from calm and the ever-surprising NFP – despite coming in at less than expected – took the USD to the highest rate in months. After a slow weekend and uneventful Monday, we seem […]
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 […]
Around price level of 1.6780, 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 recently achieved low of 1.6465 (also corresponding to a previous uptrend line) prevented further decline. […]
Since last February, the EUR/AUD pair has been moving sideways with a slightly bullish tendency. This movement was maintained above the depicted uptrend line. 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. Success of the Double Top […]
The previous Support zone around 1.0900 (50%-61.8% Fibonacci Levels) 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 apply enough bullish momentum above 1.1200. As expected, this exposed price zone of 1.1000-1.1020 which is being […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Indian Nifty fluctuates ahead of country’s elections – 07 April 2014 Written by the easy-forex team Currencies The euro (EUR) dropped below 1.3700 against the US dollar (USD) during Friday’s Non-Farm Payroll release. The release was not far away from expectations, with the US reporting […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, as we expected, the price tested the level of 1.5892. According to the daily chart, we can observe supply bar on volume just above the average, which is a sign that buying at this stage looks very risky and that we may see […]
Pivot point formula: Pivot point = (high (previous) + low (previous) + close (previous)) / 3 General idea about the pivot point. Resistance 3 and support 3 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 in the sideways […]
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 09, 2024 May 9, 2024 Potential for the rally on Dollar Index… The material has…Forex forecast 05/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin… May 9, 2024 We […]
EURGBP- With EURGBP triggering a recovery following its flat close on Friday, the risk is for more upside strength to occur. As long as it holds above the 0.8245/49 levels, our corrective upside view remains intact. On further recovery higher, the 0.8300 level will be targeted where a breach will aim at the 0.8350 level […]
Weekly technical levels of the EUR/USD pair. Notes: We expect a new range about 68 pips today. The risk of 68 pips must make a profit of 102 pips. The value of 50% Fibonacci retracement levels is 1.3745 in H1 chart. The level of 1.3745 will confirm the bullish market. The daily volatility on March […]
General overview for 07/04/2014 10:00 CET The downside wave progression has not been finished yet and the price is below the key technical level now. Only a breakout higher above this level would indicate a more deeper retrace in this pair. The 61%Fibo level has been violated and next level is being expected to be […]
Asian stocks snapped the longest winning streak on the regional gauge this year, with telecommunication and technology shares topped decreases. Naver Corp. tumbled 4.7% in Seoul and SoftBank Corp. erased 4.3% in Tokyo as telecom and technology shares snipped. Fanuc Corp., a Japanese maker of factory equipment, dropped 1.9%, pushing industrial firms lower. Japanese drug company Daiichi Sankyo […]
Copper dipped on the third day, diving to a one-week low following the US jobs data aggravated to signs of slowing growth in the world’s second largest user despite increasing mine supplies. The contract for delivery in three months on the London Metal Exchange fell back 0.6% to $6,577.50 per metric ton, the lowest intraday level since […]
Commodity currencies, including the Australian dollar, clenched sturdy gains on Monday after the US dollar and euro plunged to the side and lost footing to a calm Japanese yen. Investors were still on the dollar following a closely monitored US jobs report failed to meet the market’s towering anticipations, while the idea of the European Central Bank […]
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General overview for 07/04/2014 10:10 CET The downside momentum is loosing its strength a bit and this is why I have decided to keep the alternate count on the chart as there is still a possibility of an expanding flat correction in wave 2 green before the downtrend resumes. The key intraday level to watch […]
The Dollar index spiked higher on Friday breaking above 80.30-40 short-term resistance and moving higher towards our target of 80.70. The Dollar index managed to reach 80.60 but the strong resistance in that area has made it pull back and back test the broken resistance at 80.30-40. Short-term trend remains up. Price is above the […]
Technical outlook and chart setups: 1. The GBP/CHF pair is trading above the resistance line as seen here (1.4780 levels). As shown here, the bulls need to push higher and break at least 1.4850/60 levels to confirm a potential reversal setup. It could be then planned to buy on dips. Recommendations for now is to […]
Technical outlook and chart setups: 1. The EUR/JPY pair reveres from the following convergence levels. i. Ahead of the fibonacci 0.786 resistance at 143.80 as seen here (previous lower top) ii. The trend line resistance offered by cone/triangle setup. iii. Trading signal produced was an evening star according to Daily chart setup. Keeping all the […]
