Trading recommendations: According to previous events, the price of the USD/CHF pair has still been moving between the price of 0.8970 and the 0.8880 price. Psychological level has set at the 0.9025 price. Therefore, sell deals are recommended below the 0.9025 level with targets at the level of 0.8903 in order to form a double […]
February 14, 2014 – Forex News Hot asset for today: EUR/USD The EUR/USD pair jumped up to 1.3685 after the ECB Monthly Report was released yesterday at 9.00AM (GMT). The Report pointed to an upward impact on annual inflation. The pair remained high after the U.S. Retail Sales showed lower-than-expected figures and hurt the U.S. […]
February 14th 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist. European stocks ease a tad from the open although German and Italian equities register gains; US stock futures are currently softer; gold is up around 8 bucks whilst core governments bonds decline on the mild risk-on tone. In forex markets, USD and yen both […]
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EURUSD broke a resistance level at 1.3691 on Friday to reach 1.3712, opening the path for a move higher towards the next resistance level (R1) at 1.3738 (January 24 high). Failure to breach this level would reinstate the downside bias the pair has in the long term. In the past 3 weeks, the pair has […]
Last fall, the editor of Elliott Wave International’s Currency Pro Service, Jim Martens, observed a beautiful pattern in the chart of the Japanese yen. This pattern, called a triangle in Elliott wave terms, offers a very clear outlook for the market. What is a triangle? It’s a corrective pattern, meaning that it moves in the […]
Last fall, the editor of Elliott Wave International’s Currency Pro Service, Jim Martens, observed a beautiful pattern in the chart of the Japanese yen. This pattern, called a triangle in Elliott wave terms, offers a very clear outlook for the market. What is a triangle? It’s a corrective pattern, meaning that it moves in the […]
Our friends at Elliott Wave International have just announced the start of a rare, free event for forex traders at elliottwave.com: Forex FreeWeek, Feb. 11-19 Now through noon on Feb. 19, test-drive their trader-focused Currency Pro Service — at no cost to you. You get 100% free access to all the charts, forecasts (intraday and […]
Our friends at Elliott Wave International have just announced the start of a rare, free event for forex traders at elliottwave.com: Forex FreeWeek, Feb. 11-19 Now through noon on Feb. 19, test-drive their trader-focused Currency Pro Service — at no cost to you. You get 100% free access to all the charts, forecasts (intraday and […]
Silver Hits Winning Streak Morning Report: 08.30 London • Markets have a slight negative bias this morning, though are generally holding recent gains thanks to in line Chinese inflation figures. • Commodities are doing very well this morning thanks to an off colour US dollar. Silver has reached its highest level since November, while gold continues […]
February 14, 2014 – Daily Market News Today’s Hot Assets: USD US data disappointed the market again yesterday. Retail sales and Initial Jobless Claims were both below expectations. Stocks fluctuated throughout the session but after positive company earnings. At the close of the US session the S&P 500 had gained 0.58% and the Dow Jones […]
February 14, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold has continued its movement up for the 5th day in a row and again touched new 3-months maximum and finally broke its $1,300/ounce psychological level. It might be the biggest weekly increase since October 2013. Bad weather condition in U.S. […]
Gold futures extended its biggest gains since November in electronic trading on Friday, as the US economic report increased haven demand. Gold to be delivered in April gained $5.60 or 0.4%, to 1,305.70 per ounce, incurring to Thursday’s $5.10 profit on the Comex of the New York Mercantile Exchange. The surge came as SPDR Gold Trust assets expanded […]
Natural gas advanced on Friday, heading to a win for the week after a bigger decline in supplies of the commodity. In electronic trade, natural gas in March accrued 7 cents or 1.3%, to $5.29 per million British thermal units. That prolonged the 40-cent rally or 8.3% on last Thursday’s regular session in the New York Mercantile Exchange. The […]
USD/CAD Elliott Wave For the last few days, the USD/CAD pair has been trading downwards, since our invalidation is reached we have moved our wave count to alternate scenario. In the 1-hour chart of the USD/CAD pair, we can see that we are tracking descending movement from the 1.1222 level as the double three correction […]
General overview for 14/02/2014 08:35 CET Five impulsive waves to the downside has been finished and now the market is in corrective cycle wave (iv) blue. The most important intraday level for bears is the area between the levels of 1.1026 – 1.1042. It will act as a strong resistance together with golden trend line. […]
EUR/USD: The loss in the price has been recovered and the price is now going further northwards. This pair is nosing towards the resistance line at 1.3700 – an easy target in the chart. The new target for the bulls would be the resistance line at 1.3750, after the 1.3700 line is broken to the […]
General overview for 14/02/2014 08:15 CET The corrective cycle is getting more complex and each wave inside the price range between the levels of 138.66 – 140.05 is starting to look like a triangle formation. Because there is one more wave to the downside needed in order to complete the corrective cycle, lower prices are […]
February 14, 2014 – Forex News Hot asset for today: EUR/USD The EUR/USD pair jumped up to 1.3685 after the ECB Monthly Report was released yesterday at 9.00AM (GMT). The Report pointed on upward impact on annual inflation. The pair remained high after the U.S. Retail Sales showed lower-than-expected figures and hurt the U.S. Dollar. […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has been trading downwards, impulsive wave [i] (coloured black) of the bigger wave A (coloured blue) has been developing. In the 1-hour chart, we can see that a cycle from the 0.8658 level has already shown us five waves higher, and this just confirms that […]
Weak US data kept the dollar under pressure, pushing it to three-week lows against the euro. Meanwhile, inflation data from China also led to some caution in the markets, resulting in safe haven demand for the yen. US retail sales numbers in January missed forecasts while weekly jobless claims rose last week. Chinese consumer inflation […]
February 14, 2014 – Stock Market News Today’s Hot Asset – Boeing Stocks in Asia traded mostly higher during today’s early trading session. This movement happened following the release of positive Chinese inflation data. Stocks in Japan traded in the opposite direction today, as investors within the region were cautious regarding upcoming U.S. data. Stocks […]
Forex trading resulted in the GBP/USD pair experiencing its largest increase in three months on Feb. 12, as global market participants were impacted by the recent statements made by officials representing the central banks of both the U.S. and also the U.K. The GBP/USD rose to as much as 1.6581 during the day in London, […]
European stocks ease a tad from the open although German and Italian equities register gains; US stock futures are currently softer; gold is up around 8 bucks whilst core governments bonds decline on the mild risk-on tone. In forex markets, USD and yen both register gains and euro in decent shape too. Overnight, Asian markets […]
The Australian dollar has snapped back, following a weak US economic data that lifted hopes the US Federal Reserve might not increase the tapering of its bond-buying program any time soon. The currency gained 0.3% to 90.03 US cents as of 1:58 p.m. (Australian time), set for a 0.5% gain this week. It incurred 0.3% to NZ$1.0793, after […]
The US dollar surged for its weekly slip against a basket of its major peers before data today might show the industrial production gains eased, while consumer sentiment diminished. The euro was close to a two-week peak before report today might reflect the region’s economy improved during the last quarter of 2013 for three consecutive periods. The yen […]
US stocks recouped its momentum in Thursday’s trading, while the Nasdaq climbed for six consecutive trading days, as investors looked at weak economic data on consumer spending, attributing the weakness up to weather and not on weaker fundamentals. The Nasdaq climbed around 5.7% over the last six sessions, its most six-day advance since December 2011. Both the Dow […]
European markets have opened mostly higher today, following better-than-expected GDP data from Germany and France, and ahead of Eurozone GDP and US consumer sentiment data due later in the day. Closer home, investors will keep a close eye on data which is expected to show that the seasonally adjusted construction output in the UK rose […]
The US retail sales data softened the US dollar and made green ticks in gold. Gold made a high at the level of $1,302.70 yesterday. This year gold started in a good mood reaching a 3-month high. The rally we have seen so far came from short covering. In Asia’s trading session just now gold […]
When the European market opens, some economic news will be released such as French Prelim GDP q/q, German Prelim GDP q/q, French Prelim Non-Farm Payrolls q/q, Italian Prelim GDP q/q, Flash GDP q/q, Trade Balance. The US will release the economic data too such as the US-Import Prices m/m, US-Capacity Utilization Rate, US-Industrial Production m/m, […]
