GBP/USD’s downward movement from 1.6785 extended to as low as 1.6596. A deeper decline would be likely seen in a couple of days, and the target would be at the 1.6500 area. Resistance is at 1.6710, only a break above this level could trigger another rise to re-test the 1.6822 resistance level. In the daily […]
Daily chart: The USDX made a bearish rebound near the 79.85 level and now it is very likely that the USDX will fall to the support level of 79.19. However, we must consider the USDX formed a fractal near the 79.35 level, which could give a lot of strength to the area to prevent future […]
Daily chart: The GBP/USD continues to fall in the current bullish bias as this pair stays below the 1.6663 level; therefore, the GBP/USD is forming a bearish pattern. If the pair manages to make a breakout at the 1.6590 level, it’s expected to fall to the support level of 1.6540. On the other hand, it […]
AUD/USD is trading at the level of 0.8995 in Asia. The pair is witnessing selling some resistance at the 0.9008 level. Daily momentum indicators are giving a buy signal. We recommend to buy this pair on a hourly basis only above 0.9008 for the targets at 0.9045, 0.9072, and 0.9133. More strength is above the […]
The last thing you want is to have the markets go berserk on you. Your alarm clock rings for the second time, making Snooze redundant. You rub your eyes and reach for your phone – because it’s 2014 and doing so is our first instinct every morning – to check on your trades. You’re looking […]
Overview According to today’s 4H chart, yesterday’s breaking of the support level at 171.50 gave the price an opportunity to keep its bearish move after closing below it. As shown here, currently the price is trying to continue its bearish move and is approaching support level of 170.50 to test it. In that case, we […]
Overview: USD/JPY is expected to trade in a lower range. It is undermined by unwinding of JPY-funded carry trades and flows to safe-haven yen amid increased risk aversion (VIX fear gauge rose 4.23% to 14.8, S&P fell 0.51% overnight) as concerns persist over the crisis in Ukraine. Crimea is due to hold a referendum on […]
The USD/JPY was trading to the downside in the mid-week session, as risk aversion made its way back into the global financial markets. The yen was supported last week by escalating conflict in the Crimea region of the Ukraine. In the mid-week session, however, investors were concerned about China, which has posted soft data throughout […]
The North American pair gained momentum in the mid-week session, amid news Canada and South Korea had reached a free trade agreement. The deal is expected to boost Canada’s export of agricultural products and South Korea’s exports of automobiles, while reducing tariffs over a multi-year period. The deal is expected to support the loonie over […]
Overview: NZD/USD is expected to consolidate with bullish bias. NZD/USD is undermined by the fears of economic slowdown in China and kiwi sales on the soft NZD/JPY cross amid increased investor risk aversion. But the NZD/USD losses are tempered by the expectations that the RBNZ would increase the official cash rate to 2.75% from 2.5% […]
Europe’s common currency was stronger across the board, after annualized industrial output for the month of January topped forecasts. The EUR/GBP continued to strengthen, as a dearth of economic data in the UK kept the markets fixated on the euro. Eurozone industrial output in the euro area fell 0.2% in January, but rose 2.1% annually, […]
The GBP/USD pair was consolidating in the mid-week session, after slipping to a multi-week low amid comments from Bank of England policymakers. BOE Deputy Governor Charles Bean said earlier this week that a stronger pound could harm the UK’s export recovery. According to Bean, British exports failed to gain traction even when the pound was […]
The EUR/USD continued its upward ascent in mid-week trade after Eurozone industrial production data beat forecasts. The pair has been supported since the European Central Bank opted to leave the benchmark lending rate unchanged at 0.25%. The decision was accompanied by uplifting comments from ECB President Mario Draghi, who reaffirmed the central bank’s favourable view […]
Overview: USD/CHF is expected to range-trade. It is buoyed by the franc sales on soft CHF/JPY cross and broadly firmer USD undertone. But USD/CHF upside is limited by the flows to safe-haven CHF amid increased investor risk aversion and franc demand on soft EUR/CHF cross. Daily chart is still negative-biased as MACD and stochastics are […]
Overview: GBP/JPY is expected to trade in a lower range. It is weighed by the increased investor risk aversion and Japan’s exports sales. But EUR/JPY losses are tempered by the demand from the Japanese importers and loose BOJ’s monetary policy. Daily chart is mixed as MACD is bullish, 5- and 15-day moving averages are advancing, […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6432 on high volume. Our previous analysis is still active and in progress. Be careful with selling since we’ve got strong demand in the background starting from the level of 1.6191. EUR/NZD is in […]
News of China’s first bond default dampened risk sentiment in markets today, including currencies. The broad risk-off tone led to a demand of safe haven assets which helped strengthen the yen. The only economic data of note today was Eurozone industrial output. The data was mixed and did not really impact the euro. On an […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Gold climbed up to its highest level since September – 12 March 2014 Written by the easy-forex team Currencies The euro (EUR) range bound between the levels of 1.3833 and 1.3897 against the US dollar (USD). The single currency consolidates around 1.3855 awaiting for more […]
USDJPY: The pair has triggered a correction and looks to extend it further in the days ahead. On the downside, support comes in at the 102.26 level, its Feb 26’2014 high. Further down, support stands at 101.50 level and then the 101.00 level with a turn below here switching focus to the 100.75 level, its […]
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:Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision… April 19, 2024 US GDP, core PCE and PMIs the next tests for…Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April […]
Technical outlook and chart setups: 1. The EUR/JPY has responded well at the 0.786 fibonacci resistance level, just shy of 144.00 price. The pair is trading lower at the moment, but a push through 139.00 levels is still required to accelerate downside. It is recommended to remain short with risk above 144.00 for now. 2. […]
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. This level corresponds to 100% Fibonacci Expansion. According to the fundamental point of view, bearish pressure is being applied on the […]
Concerns are growing about China’s growth this year after the nation’s trade balance data for February were released earlier this week, being the latest in a series of poor data releases recently. Manufacturing PMIs have been no better for months. The slowing pace of growth in the world’s second largest economy has taken a toll […]
Technical outlook and chart setups: 1. The GBP/CHF pair has finally broken the trend line support as seen here. The trade direction is clearly down with 1.4600/50 now acting as resistance (past support). It is recommended to initiate short positions, risk remains above 1.4700 (the sloping trend line). 2. Immediate resistance is the 1.4600/50 region, […]
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 January 24, the EUR/AUD pair initiated a downside movement. This movement was maintained within the depicted bearish channel. On February 13, the bulls expressed a bullish breakout above the upper limit when the bears seemed to be weak. Simultaneously, the bulls established a bullish Head and Shoulders pattern off 1.5000. The neckline was located […]
Crude prices extended losses, falling for a third day, the longest losing streak in two month following the release of the latest API stockpiles report which revealed demand growth concerns in the world’s largest oil consuming country. The North American WTI crude for April delivery dropped 0.83% to $99.19 per barrel on the New York […]
The Australian dollar declined for a fourth day against the greenback on Thursday after reports from Westpac revealed consumer sentiment dropped to its lowest since May last year while home loans dropped. The Australian dollar traded 0.18% lower at $0.8958 at the time of writing, following the release, after trading close to $0.8967 earlier in […]
Trading recommendations: According to the previous events, the GBP/USD pair is still moving between 1.6640 and 1.6570. Sell at the level of 1.6640 with the first target at the 1.6625 price, then It will call for downtrend in order to continue its bearish movement towards 1.6590 in order to test this strong support (it should […]
The Dollar index bulls are trying to create an important low and stage an upward reversal. Trend remains down in all time frames. Short-term resistance is found at 79.95 and short-term support is found at 79.40. The downward sloping wedge contains current prices and if we break above 80 this bullish wedge could give us […]
