When the European market opens, some economic news will be released such as French Final Non-Farm Payrolls q/q, Industrial Production m/m.The US will release the economic data too such as the US-Crude Oil Inventories, US-10-y Bond Auction, US-Treasury Sec Lew Speaks, so amid the reports, EUR/USD will move with low volatility during this day. TODAY’s […]
In Asia, Japan will release the BSI Manufacturing Index, Tertiary Industry Activity m/m, CGPI y/y, BOJ Monthly Report, Consumer Confidence and the US will release some economic data such as US-Crude Oil Inventories, US-10-y Bond Auction, US-Treasury Sec Lew Speaks. So there is a big probability the USD/JPY will move with low volatility during this day. […]
Daily chart: The bearish bias on GBP/USD continues to strengthen and it is very likely that this pair falls to the support level of 1.6540. This breakout could begin a strong bearish trend in the medium term. If the pair manages to consolidate below that level, it is expected to fall to the level of […]
Daily chart: The USDX continues to consolidate in the bearish trend, but we must be aware of any upward to the resistance level of 80.11, as the USDX is showing signs of recovery. If the USDX does make a breakout at that level, it is expected to rise to the level of 80.62. Furthermore, if […]
Asian stocks sagged down, with the regional benchmark index on pace for a three-week low, as Japanese equities shrank on a firmer yen and mining companies retreated amid concern about China’s economic view. Honda Motor Co., a carmaker that acquires about 83 percent of sales overseas, declined 1.7 percent in Tokyo, pacing declines among Japanese […]
Analysts have boosted their year-end projections for the pound versus the dollar to the topmost mark in more than two years amid speculation the Bank of England will hike interest rates ahead of the Federal Reserve. The U.K. currency is estimated to exchanged at $1.62 by December 31, according to a Bloomberg News survey. While […]
Japanese Prime Minister Shinzo Abe is on his mark to put a sign of economic hardship to a 33-year high by surging taxes and financial values in the middle of unmoved salaries. The misery index, which adds the unemployment rate to the level of inflation, will skyrocket to 7 percentage points in the three months […]
The Nikkei Average plummeted 1.7% at 14,966, sliding lower under the 15,000 mark for the first time this week, while the Topix is missed 1.5%. The dollar is purchasing 102.89 yen after strongly placing itself over the ¥103 handle yesterday —this, even after Bank of Japan Governor Haruhiko Kuroda once again expressed his support for […]
The Bank of Japan keep its huge financial stimulus on Tuesday on the idea that development in the economy and consumer financial worth stays on track, but bring down its evaluation of exports in a warning about external demand. Governor Haruhiko Kuroda asserts his confidence that the decline in exports is not permanent and stuck […]
Japan’s Nikkei share average backslide more than 2 percent on Wednesday trading action, as investors locked in earnings after the latest surge to a five-week high, while a firmer yen achieve overall sentiment and pull down exporters like Toyota Motor. The Nikkei was relinquished 2.2 percent or 328.35 points at 14,895.39 as of 0132 GMT, […]
The yen advances in the early Wednesday trading action while investors kept their distance from risk currencies such as the Australian dollar in the middle of worries about China’s economic growth and following a late decline on Wall Street. An absence of major economic data and fresh market-moving news saw traders take their cue from […]
The USD/CAD was treading water ahead of the North American session, after powering through the 1.11 level at the start of the week. The pair continued to be supported by last week’s payroll figures, which showed the Canadian economy shed 7,000 jobs last month whereas the US economy added 175,000. The Canadian economy has shown […]
The GBP/USD continued trading on the defensive after opening the week in rocky waters. The pair fell sharply after Bank of England Deputy Governor Charlie Bean warned against a stronger currency. According to Bean, a strong British pound threatens to undermine Britain’s export recovery. Until now, Bean continued, recovery in the UK economy has been […]
The EUR/USD eased off its highs as Eurozone finance ministers entered into their second day of meetings. The pair has been capped below the 1.39 region after briefly eclipsing that level late last week. The euro skyrocketed after European Central Bank President Mario Draghi said the Eurozone economy is an “island of stability.” The ECB […]
No big secret. The situation with the Crimean crisis, could easily end in a civil war in Ukraine, and with the involvement of Russia , the EU and the US, this can bring us back to a cold war scenario. Last week we saw the effect this kind of events can cause in almost every […]
The pair established a prominent top around 1.1220 which pushed the USD/CAD pair back to the previous congestion zone between 1.0850 and 1.0960. This congestion zone 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 possible Double Top reversal pattern. […]
On Friday, After the GBP/USD pair breached price level of 1.6785, the market expressed a Shooting Star daily candlestick indicating strength of the bearish momentum on these levels. From the fundamental prospective of view, the U.S. employment improved by 175 thousand during February. This contributed to the recent decline in the pound sterling against USD […]
Successive ascending bottoms were established on the daily chart. This means the uptrend line established on September 2013 is still intact. As expected, the ongoing bullish impulse succeeded in hitting price level of 1.3900 on Friday. This level corresponds to 100% Fibonacci Expansion. According to the fundamental point of view, ECB’s President Mario Draghi stated […]
The USD/JPY pair relatively unchanged leading up to the North American session. The pair has however enjoyed stronger support in recent days amid growing risk appetite in the global financial markets. The pair fell to a low of 101.31 at the beginning of the month amid concerns of escalating conflict in the Crimea region of […]
Europe’s top pair was relatively unchanged, as investors sized a series of data from the UK and Eurozone. The pair has been well supported in recent trading, as investors continued to see upside in the euro after the central bank opted to leave interest rates unchanged. UK industrial production rose 0.1% in January, the Office […]
Overview: USD/JPY is expected to consolidate. USD/JPY is undermined by the unwinding of JPY-funded carry trades amid diminished investor risk appetite (VIX fear gauge rose 0.64% to 14.2, S&P slipped 0.05% overnight) on sluggish economic data from Asia. China reported a surprise trade deficit after its exports tumbled 18% in February from a year earlier. […]
Overview: In today’s 4H chart, yesterday’s closing below the resistance level of 173.50 gave the price an opportunity for a bearish move. As shown here, currently the price is trying to continue its bearish move by breaking the support level of 171.50 and closing 4H below. In that case, we may get another opportunity for […]
Overview: USD/CHF is expected to range trade. It is undermined by the franc demand on soft EUR/CHF cross and flows to safe-haven CHF amid decreased risk appetite. But USD/CHF downside is limited by the positive dollar sentiment. Daily chart is still negative-biased as MACD and stochastics are bearish, 5- and 15- day moving averages are […]
Overview: NZD/USD is expected to trade in higher range. The movement is supported by the kiwi demand on soft AUD/NZD cross and hawkish Reserve Bank of New Zealand’s monetary policy stance. The RBNZ is due to announce its policy decision on Thursday 9 am NZ time. But NZD/USD gains are tempered by the concerns over […]
Overview: GBP/JPY is expected to range trade. It is supported by the positive euro sentiment and demand from the Japanese importers and loose BOJ’s monetary policy. But GBP/JPY upside is limited by the diminished investor risk appetite and Japan’s exports sales. Daily chart is positive-biased as MACD and stochastics are bullish, although latter is at […]
Currency markets were directionless in a quiet European session. Most major currencies, like the euro and the sterling, drifted lower against the dollar, while the yen was steady after the Bank of Japan left policy unchanged. The euro moved further off a recent 2-1/2 year high against the dollar after being weighed down by comments […]
USDCHF: Although USDCHF may be vulnerable to the downside, it faces a corrective threat. Support comes in at the 0.8700 level, its psycho level. Below here will set the stage for further weakness towards the 0.8650 level. Further down, support is located at the 0.8600 level and then the 0.8568 level. On the other hand, […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – The cable is trading near its monthly low – 11 March 2014 Written by the easy-forex team Currencies The euro (EUR) consolidates between the levels of 1.3850 and 1.3897 against the US dollar (USD). The single currency made a rally the last few days advancing […]
Technical outlook and chart setups: 1. The EUR/JPY is trading sideways (in smaller time frames) between 142.90 and 143.50. The pairs seems to have hit major resistance at sub 144.00 levels and is about to resume lower. It is therefore recommended to remain short/initiate fresh short positions around current price (143.00/10), risk remains at 145.50. […]
Technical outlook and chart setups: 1. The GBP/CHF pair has stopped us out again at 1.4600. At the moment the pair is approaching the support trend line near 1.4550 region. It is recommended to remain flat for now and await for reaction at 1.4550 levels before committing. 2. Immediate support is at 1.4550, followed by […]
