Daily chart: The GBP/USD attempted to consolidate above the resistance level of 1.6663. However, this pair remains below that level and still forming a higher low pattern, so it is very likely that this pair will try to drop the support level of 1.6540. On the other hand, if the pair manages to consolidate above […]
The weak dollar is pushing gold prices to a 6-month high. In the week ending March 8, the advanced figure for seasonally adjusted initial jobless claims was 315,000, a decrease of 9,000 from the previous week’s revised figure of 324,000. The 4-week moving average was 330,500, a decrease of 6,250 from the previous week’s revised […]
The pair is trading near the resistance level. The pair is in an upmove from the lows at 1.0955 and moved higher towards 1.1154. In the H4 chart, the pair is trading between 1.1078-1.1038, either side breakout will lead further move. The pair has broken the inverted head and shoulder pattern in a downtrend from […]
The pair has been trying to cross the resistance level of 0.9085. If the pair closes above the level of 0.9085, then we can see a huge momentum upside towards the targets at 0.9205, 0.9246, 0.9450, and 0.9516. The pair did multiple attempts to cross the 0.9085 level from its daily high made on January […]
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CRUDE OIL: With Although a sign of price exhaustion is now seen, Crude Oil continues to maintain its broader downside pressure. Support comes in at the 97.12 level where a violation clear the way for a run at the 96.26 level. Further down, support is located at the 95.00 level. Its daily RSI is bearish […]
Concerns about China’s economic situation have had a bad impact on the European and US markets, which are looking bearish. Bad news for some means good ones for others and Australia and New Zealand would not complain. Allow me to elaborate on what really happened today, but first lets take a look at our March […]
On Friday, after the GBP/USD pair breached the price level of 1.6785, the market expressed a Shooting Star daily candlestick indicating strength of the bearish momentum on these levels. As depicted on the chart, the next demand level is located around 50% Fibonacci at 1.6540. This is the next destination for the bears. As long […]
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. Daily closure above 1.3900 will enable the pair to reach its next destination at […]
The GBP/USD rebounded sharply in the latter half of the week, as investors continued their sell-off of the US dollar. The US dollar index, which tracks the performance of the greenback against six major peers, was down 0.3% to 79.40. The British pound was a prime benefactor of the greenback’s prevailing weakness. The pound traded […]
The EUR/USD continued its upward climb in the second half of the week, as investors shrugged off upbeat US data. The pair continues to be supported by upbeat sentiment from the European Central Bank, which announced last week it was not going to lower interest rates. At the same time, ECB policymakers have been relatively […]
The North American pair unexpectedly fell amid disappointing Chinese industrial and retail sales data. As a commodity currency, the Canadian dollar is usually sensitive to negative releases from the world’s second-largest economy, as this implies declining demand for commodities such as oil, of which Canada is a prime exporter. Industrial production in China rose at […]
The AUD/USD pair was back in the driver’s seat after falling below the 0.90 handle in the mid-week session. The pair was supported by unusually strong Australian employment figures, which soared above expectations. Australian employers added 47,300 workers last month, according to the government’s Bureau of Statistics. The gains were led by a surge in […]
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Overview: USD/JPY is expected to consolidate after hitting four-day low at 102.55 on Wednesday. It is undermined by the broadly weaker dollar undertone (ICE spot dollar index last 79.60 versus 79.80 early Wednesday),lower U.S. Treasury yields and Japan export sales. But the USD/JPY losses are tempered by the demand from Japan importers, loose monetary policy […]
Overview: USD/CHF is expected to consolidate with bearish bias after hitting two-year low at 0.8731 on Wednesday. It is undermined by the broadly weaker dollar undertone and franc demand on the buoyant CHF/JPY cross and on the soft EUR/CHF cross. Daily chart is negative-biased as MACD and stochastics are bearish, although latter is at oversold […]
Overview: The NZD/USD is expected to trade in higher range. It is supported by the Reserve Bank of New Zealand decision increased its key interest rate by 25 basis points to 2.75% and RBNZ Gov. Wheeler said that the pace of hikes won’t change just because the central bank thinks the Kiwi is overvalued, while […]
The dollar was broadly weaker until US data on jobless claims and retail sales gave it a small boost. During the European session the euro hit a new 2-1/2-year high against the dollar, buoyed by comments from ECB Governing Council member Jens Weidmann. He said that the ECB’s accommodative monetary policy in the Eurozone was […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,374.98 high volume (buying climax). Since the gold has broke our major resistance level at the price of 1,355.00, we may expect testing the level of 1,395.00-1,401.00 (Fibonacci levels). According to the daily chart, we can […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, the price rejected from our Fibonacci retracement 61.8% at the price of 1.6478 on very high volume and tested the level of 1.6223 on high volume (selling climax). Our previous analysis is still valid. Be careful with selling since we’ve got selling climax […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – The single currency touched its two and a half year high – 13 March 2014 Written by the easy-forex team Currencies The euro (EUR) climbed up to its two and a half year high at 1.3948 against the US dollar (USD). The single currency rose […]
Overview: The GBP/JPY is expected to trade in higher range. It is supported by the improved risk tolerance and positive euro sentiment, demand from Japan importers and loose BOJ’s monetary policy. But the GBP/JPY gains are tempered by the Japan exporter sales. The daily chart is mixed as the MACD is bullish, but stochastics is […]
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The “runaway credit expansion” described in Bob Prechter’s Conquer the Crash continues, but… Read more: http://bit.ly/1km9m2y Learn How the Wave Principle Can Improve Your Trading Related Posts:Video market update for May 24, 2024 May 24, 2024 Potential for the further downside movement on the NAS100The material…Market Comment – Sentiment sours after strong US PMIs;… May […]
Overview In 4H chart, the pair failed more than once to break the support level of 170.50 and is still trading above it since yesterday. From the today’s 4H chart, the pair bounced from the support area again and started to take a slightly upward move approaching the resistance level of 171.50 which is tested […]
EURUSD: With EUR following through higher on the back of its Wednesday gains, further strength is likely. Resistance resides at the 1.4000 level where we may see the bears come in and push the pair lower. However, if this fails to occur, further strength could build up towards the 1.4050 level, its psycho level. Further […]
Investors who participate in crude oil trading should pay close attention to the recent news about the United States’ supply. According to Bloomberg, the supply surged, which brought West Texas Intermediate crude to a one-month low. Crude stockpiles jumped 6.18 million barrels this past week, which was much higher than the estimate of 2 million […]
Crude prices were seen climbing on Thursday, boosted by the ongoing tension in Ukraine and the higher global demand for 2014, according to OPEC. Gains were trimmed by concerns over China’s economy, following the release of the industrial output figures which came lower than expected. The report showed signs of the world’s second largest economy […]
Yellow metal prices were seen trading higher on Thursday, trading to its highest level in nearly six months as the worsening tension between Russia and Ukraine increased haven demand. Gold futures climbed 0.06% higher to $1,371.40 an ounce at the time of writing, while silver futures edged 0.11% lower to $21.335 an ounce. Gold has […]
March 13, 2014 – Commodities News Hot Asset For Today: Gold Gold has been steadily advancing due to the ongoing crisis in the Crimea as investors seek a safe haven from any economic blow-back. The only pullback facing the yellow metal occurred after worse than expected Chinese data, which many felt would reduce physical demand. […]
