Asian shares skyrocketed, with the regional index bouncing back from its largest two week sag down since June. Copper erased last week’s hike as a preliminary Chinese manufacturing gauge surprisingly decline, while gold and silver slide lower. The MSCI Asia Pacific Index inched up 0.8 percent by 11:54 a.m. in Tokyo as Chinese companies in […]
EURUSD retreated from a 2 ½ year high of 1.3966 hit on March 13 and extended lower towards the key psychological level of 1.3800. At this point, the medium term trend is still bullish as the technical indicators are not giving any sign of a trend reversal yet. RSI is above 50 and MACD is […]
The Currency market analysis for Mar 24, including significant events likely to affect the markets, buy and sell points and market calendar. My Technical Analysis Summary – Mar 24, 2014 02:40AM (GMT -4:00, DST On) Symbol Type 5 Minutes 15 Minutes Hourly Daily EUR/USD 1.3802 Moving Averages: Neutral Buy Buy Buy Indicators: Neutral Strong Buy Strong Buy […]
The euro was more or less flat against the dollar, while the dollar posted sizeable gains against the Japanese yen during Monday’s Asian trading. The euro was buying 1.3798 dollars, while dollar / yen was at 102.47. The pound gained somewhat but remained below the 1.65 mark at 1.6486. The Chinese HSBC manufacturing flash PMI […]
Crude oil has been trying to come out a pattern. It is improving its support levels from the last couple of trading days. In the Asia’s trading session, the pair is trading at the $99.34 level. On the downside, the price has support at 98.24 and 97.37. After a break below the level of 97, […]
EUR/USD: This is a bear market. The price fell last week, touching the support line at 1.3750; and from that point, the price bounced upwards by 50 pips, testing the resistance line at 1.3800. It is assumed that the bearish trend would continue, which could take the price below the aforementioned support line. USD/CHF: This […]
USD/SGD has given after a long consolidation at the level of 1.26. In the daily chart, the pair is trading above all the short- and medium-term moving averages. The Singapore dollar is back in action starting wave 3 up. Wave 3 has a target of 1.308 with sl 1.2560 for my view. RSI is showing […]
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, Belgian NBB Business Climate. The US will release the economic data too such as the US-Flash Manufacturing PMI, so amid […]
In Asia, Japan will not release any data today and the US will release only one economic data – US-Flash Manufacturing PMI. So there is a big probability the USD/JPY will move with low vowolatility during this day. Resistance. 3: 102.93. Resistance. 2: 102.75. Resistance. 1: 102.55. Support. 1: 102.29. Support. 2: 102.08. Support. 3: […]
GBP/USD has broken all the support levels and is trading below medium term moving averages. It has been in a downtrend from 1.6786 moving to 1-month low. Currently, the pair is trading near the crucial trend line. RSI is cooled off from the sell mode in daily charts. In Asia’s trading session, the pair is […]
USD/CHF has been forming an ending diagonal for months. So will it finally break out of the pattern? It will make one more attempt to do so as short-term momentum is back in buy mode after multiple divergences in the RSI. Above 0.887, it will go to the upper line at 0.8985. A close above […]
Daily chart: The USDX has managed to form a fractal above the support level of 80.11. However, it is very likely that the USDX keeps moving in a low range, as part of a correction in the current trend. The next target for the USDX is the resistance level of 80.62. On the other hand, […]
Daily chart: The GBP/USD is trying to find support on the bullish trend line near to the 1.6480 level. If the pair manages to make a breakout on the trend line, it is expected to fall to the support level of 1.6447. On the other hand, if this pair makes a bullish rebound on the […]
EURUSD: With EUR triggering weakness the past week to close lower at the end of the week, further decline is likely. However, we are watching out for signs of corrective recovery in the new week. Support lies at the 1.3749 level. Further down, support comes in at the 1.3685 level where a violation will target […]
USDCHF: With the pair closing higher following its price halt the past week, the risk is for more gains to occur. However, the situation on the daily chart is different as its mentioned rally has printed a reversal candle (shooting star) suggesting it may be tough for USDCHF strengthen further for now. If it cannot […]
Overview:The USD/JPY is expected to trade with bullish bias. Liquidity was thin in Asia today as financial markets in Japan were shut for holiday. The USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 80.18 versus 80.01 early Thursday) after the Federal Reserve officials shifted forward their forecast for higher rates […]
Overview:The USD/CHF is expected to consolidate with bullish bias after hitting two-week high at 0.8869 on Thursday. The USD/CHF has been supported by the Swiss National Bank on Thursday repeating its pledge to intervene in currency markets to prevent the Swiss franc from strengthening beyond 1.20 per euro, and keeping its target range for the […]
The EUR/CAD pair took a fresh tumble at the end of the week, as Canada’s federal statistics agency reported stronger than forecast employment. The pair pulled ahead in the latter half of the week, despite broad weakness on the part of the euro. For all its weakness, the euro still had the upper hand on […]
The North American pair reversed its bullish ascent at the end of the week, as a dearth of economic data in the US kept the forex market fixated on Canada. The pair soared in the second half of the week after the Federal Reserve said interest rates could materialize six months after quantitative easing has […]
The GBP/USD was trading slightly lower in the final session of the week. The pair was among the hardest hit following the Federal Open Market Committee policy announcement. As of the early North American session, the GBP/USD pair appears headed for a third consecutive day of declines. UK public sector net borrowing wasn’t able to […]
Overview:The GBP/JPY is expected to trade with risks skewed lower. It is undermined by the weak EUR/USD undertone. But the EUR/JPY downside is limited by the improved risk appetite and loose BOJ’s monetary policy and positions’ adjustment before the weekend. Daily chart is mixed as the MACD is negative biased and stochastics is turned bearish. […]
The EUR/GBP was off its recent lows at the end of the week, but remained firmly constituted below the 0.84 handle. The pair suffered several setbacks this week, triggered by underlying weakness in the euro and stronger than forecast UK employment numbers. Although the UK unemployment rate remained stable in the three months through January, […]
The EUR/USD was treading water in the early North American session, holding steady near two-week lows. The pair tumbled sharply in the mid-week session after the US Federal Open Market Committee laid the groundwork for a rate hike. The pair has lost nearly 1% since then. A dearth of economic data in the United States […]
Overview:The NZD/USD is expected to consolidate after hitting six-day low at 0.8499 on Thursday. It is undermined by the positive dollar sentiment and Kiwi sales on the rebounding AUD/NZD cross. But the NZD/USD downside is limited by the Kiwi demand on the NZD/JPY cross amid reduced risk aversion, hawkish Reserve Bank of New Zealand’s monetary […]
Currency markets were relatively quiet on Friday in the absence of major economic data releases. The dollar is set to end the week higher against most majors but gave up some post-FOMC gains. The euro moved further off a two-week low hit on Wednesday to rise higher against the dollar today. Data showing a record […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Geopolitical implications push oil volatility higher – 21 March 2014 Written by the easy-forex team Currencies The euro (EUR) broke lower against the US dollar (USD) down to 1.3762 before correcting overnight to 1.3788. The euro may be tested today ahead of consumer confidence. The […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading sideways, around the price of 1.6150, we are still waiting for larger movement. Our previous analysis is still active. According to the daily chart we can observe weak supply on high volume, which is a sign that we may see further bullish movements. The […]
Technical outlook and chart setups: 1. The EUR/JPY pair has bounced back after testing lows at 140.50. It looks like the pair is preparing to rally further towards 144.00 and 145.50, with the recent lows holding well. Recommendations are to hold long positions taken earlier, risk remains at 140.00. 2. Immediate support is at 140.50 […]
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Reversal Double-Top pattern was expressed at 1.6800 which led to the current bearish swing down to 1.6470. Breakdown of 1.6530 (50% Fibonacci level) which took place Yesterday exposed 1.6470 (61.8% Fibonacci) immediately. Mild bullish pull-back is taking place at 1.6470. Price level 1.6535 remains the nearest Intraday resistance for the pair. On the other hand, […]
