Asian stocks rose, with a regional benchmark index ascending following the largest dip this month, topped by shares in Tokyo before the Bank of Japan regulations on monetary policy. The MSCI Asia Pacific Index climbed 0.3% by 10:45 a.m. in Tokyo. Japan’s Topix Index advanced for the fifth time in six days. The Bank of Japan will issue […]
The US dollar glided down against the Japanese yen on Tuesday, following the Bank of Japan maintained its monetary policy, but still traded higher than yesterday. Versus the yen, the dollar surged up slightly in early trading before the conclusion of BOJ’s two-day meeting, then slid from ¥103.4 to ¥103.295 following the central bank kept its policy […]
General overview for 11/03/2014 08:15 CET: The current wave progression does not look too impulsive right now, so probably the the upside has not been finished yet. Any breakout above the level of 1.1130 will invalidate the bearish impulsive count and it will make wave count in favor of more complex and time consuming wave […]
EURJPY maintains its bullish long term outlook. The pair is currently trading well above the daily Ichimoku cloud and above the Tenkan – Sen and Kijun –Sen lines, which indicates more upside potential. Another indicator, the MACD, is also giving a bullish signal, as it has just crossed above the zero line. A break of […]
General overview for 11/03/2014 08:00 CET: The consolidation phase continues and the price action starts to look like a triangle wave (iv). The red trend line still provides the resistance and both intraday support and resistance levels are the same like yesterday. Bias is still to the downside for one more corrective sub-wave down and […]
EUR/USD: The current southward retracement in the price is expected to be a temporary thing. The price could easily assume a renewed bullish effort and slash through the resistance line at 1.3900. It would, however, be mentioned again that our ultimate target for this week is at the resistance line of 1.4000. USD/CHF: The current […]
The Bank of Japan decided to keep its ultra-easy monetary policy unchanged on Tuesday but decided to downgrade its view about exports while upgrading the bank’s view on capital expenditure and industrial production. Exports have so far not benefitted as much as expected from the weaker yen, as the announcement of downwardly revised fourth quarter […]
Forex trading resulted in the USD/JPY pair moving lower on March 10, as global market participants were impacted by lackluster economic data that undermined their sentiment. This currency pair fell to as little as 102.94 during the day, according to Investing.com. Many global market participants flocked to the yen for its safe haven value, after […]
When the European market opens, some economic news will be released such as German Trade Balance, ECOFIN Meetings.The US will release the economic data too such as the US-NFIB Small Business Index, US-JOLTS Job Openings, US-Wholesale Inventories m/m, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’s TECHNICAL […]
In Asia, Japan will release the M2 Money Stock y/y, Monetary Policy Statement, Prelim Machine Tool Orders y/y, BOJ Press Conference and the US will release some economic data such as US-NFIB Small Business Index, US-JOLTS Job Openings, US-Wholesale Inventories m/m. So there is a big probability the USD/JPY will move with low volatility during […]
USD/JPY remains in uptrend from 101.20, the fall from 103.76 could be treated as consolidation of the uptrend. Range trading between 102.60 and 103.76 would likely be seen. Support is at 102.60, as long as this level holds, another rise could be expected, and the next target would be at 104.50 area. Only a break […]
In the H4 chart, we clearly see a breakout above the level of 1.1110. In yesterday’s trading session, the pair made a high at 1.1131 and pulled back. The pair is forming a base around the level of 1.1092. In Asia on Tuesday, the pair again climbed back above the upper resistance line, which is […]
Daily chart: The USDX is forming a higher low pattern near the 79.80 level. If the USDX manages to consolidate below the support level of 79.45, it’s expected to fall to the level of 79.19. If the USDX does make a breakout at that level, it would be expected to fall to the level of […]
Daily chart: The GBP/USD has dropped below the support level of 1.6663, so the bullish bias is endangered. If the pair manages to form a higher low pattern at present levels, it would be expected to fall to the support level of 1.6540. On the other hand, if the pair manages to break the resistance […]
EUR/USD’s upward movement from 1.3477 extended to as high as 1.3915. Key support is at the upward trend line in 4-hour chart. As long as the trend line support holds, the uptrend could be expected to continue after a minor consolidation and next target would be in the 1.4000 area. In the H4 chart, oscillators […]
GBPJPY – With the cross weakening on its Friday negative candle print, the risk is for it to weaken further in the days ahead. In such a case, support lies at the 171.00 level where a break if seen will aim at the 170.15 level. Further down, support comes in at the 169.12 level with […]
Hello eTorians!! We have just completed a week long awaited by all Social Investor: like every first week of the month we had the NFP data and the unemployment rate data for US. Most of the Social Investors were expecting good data, which means the start of a climb for the USD. The Non Farm […]
Stronger-than-forecast economic data boosted the Australian dollar last week. The Aussie finally managed to break the 90 cent US plateau for the first time since mid-February. The AUD/USD pair, which had been supported by strong Australian GDP data, continued to spike after the Bureau of Statistics reported stellar retail sales and trade figures. The Aussie […]
The EUR/GBP pair opened the week in fine form, as investors continued to show support for the common currency at the expense of the British pound. The pair rose sharply at the end of last week, after the European Central Bank said new stimulus measures wouldn’t be needed in the Eurozone. The euro rose amid […]
The GBP/USD fell sharply to start the week, as an idle data wire kept investors fixated on UK monetary policy. As expected, the Bank of England opted to make no changes to the benchmark lending rate last week. At the same time, US nonfarm payrolls rose at the fastest pace since November, boosting optimism in […]
The USD/CAD was holding the 1.11 line in the European session, as investors await a moderate flow of economic data from both countries. The Canadian dollar, which was supported at the end of February by stronger than forecast GDP growth, backtracked slightly last week amid a steady stream of US data, capped off by the […]
The EUR/USD pair strengthened considerably last week, as stronger than forecast Eurozone data helped bolster the common currency across the board. The European Central Bank’s decision to maintain interest rates also helped the euro, which managed to gain more than 1% against the US dollar last week. The week ahead promises to be active, as […]
Rich or poor is a matter of perspective. Just as high and low, thick and thin, and up or down. We can only really measure a thing when we have a point of reference. Then, from that point we can explain where something else is in relation. For example, the $EURUSD (Euro Vs US Dollar) […]
Good afternoon eTorians and welcome to another trading week! We just passed the weekend of the NFP which showed positive results. The strong raw data has also a positive reading: S&P500 ended at a record closing for a second day in a row, despite overall sentiment of caution and volatility of the session. Also the […]
Overview: USD/JPY is expected to trade in higher range after hitting its six-week high of 103.77 at Friday. It is undermined by selling of the yen crosses amid reduced risk appetite after surprise 18.1% on-year plunge in China’s February exports (versus forecast +5.0% increase), leaving a trade deficit of $22.98 billion for February and heightening […]
Overview: USD/CHF is expected to consolidate after hitting its two-year low at 0.8753 on Friday. It is undermined by the franc demand on soft EUR/CHF cross and flows to safe-haven CHF amid increased risk aversion. But USD/CHF downside is limited by 0.1% on-year drop in Switzerland February CPI (versus forecast 0.0%); comment from the Swiss […]
Overview: GBP/JPY is expected to consolidate in a lower range. It is undermined by the diminished investor risk appetite and Japan’s exports sales. But GBP/JPY losses are tempered by the positive euro sentiment, demand from the Japanese importers and loose BOJ’s monetary policy. Daily chart is still positive-biased as MACD and stochastics are bullish, 5- […]
Overview: NZD/USD is expected to trade in higher range after hitting its four-and-a-half month high at 0.8522 on Friday. It is undermined by the concerns over economic slowdown in China, kiwi sales on NZD/JPY cross amid decreased investor risk appetite and positive U.S. dollar sentiment. But NZD/USD losses are tempered by the kiwi demand on […]
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 to hit price level of 1.3900 on Friday. This level corresponds to 100% Fibonacci Expansion. Through the fundamental point of view, the ECB’s President Mario Draghi stated […]
On Friday, after the GBP/USD pair breached 1.6785, it 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 below the level of […]
