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: 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: 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: 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 […]
Crude prices were seen trading flat amid speculation that crude stockpiles increased in the US, the world’s biggest oil consumer. While the ongoing tensions between Russia and Ukraine over the Crimean region continues to weigh on the oil market, as worries over demand growth from the world’s biggest oil consumers keep crude prices under pressure. […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, the price tested the level of 1.6294 on average volume. Our previous analysis is still active and in progress. Be careful with selling since we’ve got buying climax in the background starting from the level of 1.6191. EUR/NZD is in short- and mid-term […]
The Bank of Japan concluded its two-day monthly policy meeting on Tuesday with an announcement that it retained its policy easing program, meaning it will continue to expand its monetary base by 60tln – 70tln yen annually. Based on a press conference by BoJ Governor Haruhiko Kuroda, the central bank remains optimistic on the Japanese […]
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 April 19, 2024 April 19, 2024 Potential for the further drop on NAS100The material has been…Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision… April 19, […]
SoftBank Corp. President Masayoshi Son is re framing his argument for consolidation in the U.S. mobile-phone market, moving to Washington this week to support the idea for wireless broadband as an option to cable. Calling the attention of investors and technology policy makers at a lunch tomorrow, Son plans to discuss the benefits of an […]
The yen marched higher against 10 of its 16 major counterparts as appetite for riskier assets cooled after China reported the largest trade deficit in two years and the slowest hike in consumer financial values in 13 months. Sterling sagged down as Bank of England Deputy Governor Charlie Bean said further strength in the currency […]
There are few unexpected things in the BOJ’s finalization today— no alterations to policy, nor any movements to the broad economic evaluation. Japan’s economy stayed in its moderate recovery. “Exports have recently leveled off more or less.” And the part about business’s fixed investment was changed to “the pick-up has become increasingly evident” from last […]
Asian stocks rallied higher on Tuesday trading action, as markets rebounded from a punishing session on Monday, while Japanese stocks relinquished most of their early increases after the Bank of Japan stood pat on financial policy. Japan’s Nikkei climbed 0.1%, after surging as much as 0.9% earlier in the day, after the country’s central bank […]
Upbeat price-action in Asian markets kicked up European stocks early Tuesday although persisting worries over the situation in the Ukraine continue to curb enthusiasm to build risk. US markets pared session losses Monday, gearing up Asian markets for a better session — Asian share markets were punished on Monday so a rebound was somewhat expected. […]
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The Dollar index tried yesterday to make an upward bounce, but it still remains below resistance levels. The downward sloping wedge is getting narrower every hour. Short-term resistance is found at 79.95. Short-term support is found at 79.60. The trend remains down and so we remain bearish. Important medium-term resistance is found at 80.20 and […]
