The dollar hits a four-month low versus its counterparts amid bets the Federal Reserve will bring down its unemployment rate threshold today and adopt qualitative guidance for signaling when it will boost interest rates. Traders’ expectations of future currency fluctuations stayed near the weakest since 2012 after President Vladimir Putin said Russia isn’t seeking to […]
The dollar managed to post slight gains ahead of the decision from the Federal Reserve later in the day. Still, the dollar’s trade-weighted index against a basket of currencies was near a 4-month low. The dollar was trading at 101.56 against the yen, relatively close to 100.75 which was its low for the year. The […]
EUR/USD: The price is above the support line at 1.3900. There is another support line at 1.3850, which can serve as a real barrier to any bearish attempts. There are still signs of bullish determination on the EUR/USD, and our target at 1.4000 remains unchanged. The EUR/USD is thus capable of trending further upwards, first […]
GBP/USD stays in a downward price channel in the chart, and remains in downtrend from 1.6822. Deeper decline could be expected, Resistance is at the upper line of the channel, only a clear break above the trend line resistance could trigger another rise towards 1.7000. Bank of England’s Governor Mark Carney yesterday unveiled a radical […]
The FTSE has been in a large volatile range from 6,500-6,900, moving 10% up and down every two months. Currently, it’s declining with the lower end of 6,416. In the daily chart, the index is trading below the short-term moving averages. At yesterday’s trading session, the index was closed above the 200 EMA level, which […]
The euro has risen in what could turn out to be an ending pattern. Based on the wave count below, we are in wave c of E up with the upper line at 1.396. Will it stop there or not? Will it take a European intervention to stop it? The Dollar index broke below the […]
When the European market opens, some economic news will be released such as German 10-y Bond Auction.The US will release the economic data too such as the US-Current Account, US-Crude Oil Inventories, US-Federal Funds Rate, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY […]
Daily chart: USDX continues bearish movements, so the next target for USDX would be the support level of 79.19. If the USDX makes a breakout at that level, it would be expected to fall to the level of 78.12. On the other hand, if the USDX makes a bullish rebound at the support level, it […]
In Asia, Japan will release the Trade Balance, All Industries Activity m/m, BOJ Gov Kuroda Statement. The US will release some economic data such as US-Current Account, US-Crude Oil Inventories, US-Federal Funds Rate. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium […]
Daily chart: The GBP/USD fell to the support level of 1.6540, but the pair made a bullish rebound above that level, and now it is close to the level of 1.6600. However, the GBP/USD is forming a higher low pattern in this chart and if this pair manages to make a breakout at the 1.6540 […]
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The USD/JPY pair continued to lose momentum, as investors shifted their attention to the Federal Reserve meetings. The Fed, which is meeting in Washington over a two-day period, will weigh recent developments in the US economy against a broader mandate of economic growth and price stability. Market sentiment appears to favour a third bond taper, […]
The AUD/USD continued its bullish ascent despite dovish remarks from the Reserve Bank of Australia, which said in the minutes of its previous interest rate decision that it plans to keep borrowing costs at record lows. The Australian dollar has defied central bank rhetoric in recent weeks. Since the beginning of March, the Aussie has […]
The North American pair declined for the second consecutive session, as mixed economic data in the United States left investors weary about the pace of US recovery. The US economy suffered a major blow this winter, as severe weather softened industrial output, consumer spending and even job creation. The day’s biggest report came courtesy of […]
The GBP/USD continued to slide after opening the week in consolidation mode. Investors were still grappling with the recent shakeup at the Bank of England, which has been described as one of the largest since the central bank gained independence in 1997. BOE Governor Mark Carney has appointed Ben Broadbent as Deputy Governor in charge […]
Europe’s top pair remained supported heading into the middle of the week, despite ongoing concerns about Eurozone recovery. Earlier in the week the European Commission said Eurozone inflation eased back to 0.7% in February. Inflation has been a chronic issue for the euro area, one that has yet to be adequately addressed by by the […]
The EUR/USD softened in the European session, falling to a low of 1.3890 amid weaker than forecast ZEW survey data. The ZEW Economic Sentiment indicator measures institutional investor sentiment in Germany and the broader euro area. The German index weakened considerably this month, falling from 56.7 to 46.6. A median estimate of economists called for […]
The cold war is over and buried in the past. If in the 50′s things were black or white, now we see an annoying tone of gray in east/west relations and the markets are absolutely a part of it. After Crimean’s announcement of its intention to become a part of Russia, and confirm it in […]
Successive ascending bottoms were established on the daily chart. This means the uptrend line established in September 2013 is still intact. As expected, the ongoing bullish impulse succeeded in hitting the price level of 1.3900. This level corresponds to 100% Fibonacci Expansion. A Shooting Star daily candlestick was expressed on Thursday after topping at 1.3965. […]
Investor sentiment in Germany has declined for a third month in March and fell to the lowest level since August. The ZEW Investor Confidence index for March was released on Tuesday, coming in lower than forecast at 46.6 versus 53.0 expected and below February’s 55.7. The ZEW index is complied by conducting a survey on […]
As depicted on the chart, the next demand level is located around 50% Fibonacci at 1.6540. As long as 1.6820 remains the highest level for the month, the price level of 1.6540 remains the target for the bears. Another scenario is that a Double Top pattern is being established with the neckline located around 1.6600-1.6580. […]
Previous congestion zone between 1.0850 and 1.0960 provided a considerable support at retesting on February 19. This led again towards 1.1190 where the USD/CAD pair topped on February 21 establishing a double-top reversal pattern. Price levels of 1.0950 and 1.0850 correspond not only to a previous congestion zone but also come to meet the uptrend […]
On February 13, the bulls expressed a bullish breakout above the upper limit of the previous bearish channel. This took place when the bears showed obvious weakness. Since then, the EUR/AUD pair has been moving sideways with a slightly bullish tendency. This movement was maintained within the depicted bullish channel. On March 12, the bulls […]
The risk environment improved in the currency markets today as the threat of armed conflict in the Ukraine began to ease, especially after Russian President Putin said that Russia doesn’t need further division in the Ukraine. His comments helped eased fears that were in the air as to how Putin would react to sanctions imposed […]
Overview:GBP/JPY is expected to trade in lower range. It is buoyed by the positive investor risk appetite, demand from Japan importers and loose BOJ’s monetary policy. But GBP/JPY gains are tempered by the Japan exporter sales and caution before Wednesday’s Federal Reserve monetary policy decision. Daily chart is mixed as positive MACD histogram bars are […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, the price tested the level of 1.6128 on ultra high volume (selling climax). Be careful with selling since we’ve got selling on very high volume. We can observe testing the level of 1.6130 (Fibonacci expansion 61.8%). The EUR/NZD is in short- and mid-term […]
Overview: NZD/USD is expected to trade in a higher range. It is underpinned by the Kiwi demand on NZD/JPY cross amid reduced risk aversion and weaker dollar sentiment, reduced concerns over China and hawkish Reserve Bank of New Zealand’s monetary policy stance. But NZD/USD gains are tempered by the caution before Wednesday’s Federal Reserve monetary […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Dollar jittery ahead of FOMC statement tomorrow – 18 March 2014 Written by the easy-forex team Currencies The euro (EUR) continues to strengthen having reached 1.3946 before correcting to 1.3927 against the US dollar (USD) this morning. The single currency may be tested this morning […]
Overview: USD/CHF is expected to trade with risks skewed lower. It is undermined by the weaker dollar sentiment, reduced safe-haven appeal of CHF and franc demand on buoyant CHF/JPY cross. But USD/CHF losses are tempered by the caution before Wednesday’s Federal Reserve monetary policy decision and franc sales on rebounding EUR/CHF cross. Daily chart is […]
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