EUR/USD: This pair is expected to go further upwards this week reaching the target at the resistance line of 1.3800. The support line at 1.3700 should be a good barrier for the bears. With an increase in the buying pressure in this market, the price should be propelled towards the aforementioned target. USD/CHF: One thing […]
Daily chart: The USDX remains above the support level of 80.11 and still remains in a bearish position in this chart, as the USDX could be forming a higher low pattern. However, if the USDX makes a bullish rebound, it is expected to rise to the resistance level of 80.62. Furthermore, if USDX is able […]
Daily chart: The GBP/USD had a very sharp drop below the resistance level of 1.6663 and the next target for the pair would be the support level of 1.6540. This could be a change in the trend in this chart, since the GBP/USD has formed a bullish candlestick, so is likely to continue falling this […]
Weekly technical levels the GBP/USD pair. Trading recommendations: As it is known, sellers are asking for a high price as well as buyers are bidding at a lower price. Therefore, the first key level will set at the level of 1.6755 and the second key level will set at the 1.6545 level on February 24, 2014. Equally […]
Weekly technical levels the EUR/USD pair. Pivot point among resistances and supports. If the price is at pivot point (1.3732), watch for a move back to resistance 1 (1,3778) or support 1 (1.3691). If the price is at resistance 1 (1.3778), expect a move to resistance 2 (1.3819) or back towards the pivot point (1.3732). […]
The GBP/USD pair established a recent demand level around the price level of 1.6250 where a prominent bottom was established on February 5. A strong bullish impulse was expressed shortly after opening the way towards 1.6575 then 1.6666. Both resistance levels have been broken through. Recently, the bulls failed to fix above 1.6800 which is […]
On the daily chart we can see that the bulls found enough demand around 1.3570 to push again towards 1.3680-1.3700 for another retesting. A prominent top was established around the same price zone on January 24. However, this time the bulls managed to breakthrough above 1.3700 and a bottom is probably being established around this […]
GOLD: With GOLD maintaining its upside bias, we expect further strength to occur in the new week. However, it will have to retake the 1,332.09/1,328.00 levels to create scope for more upside. Further out, resistance resides at the 1,350.00 level with break of here turning focus to the 1,400.00 level. Additionally, resistance stands at the […]
EURUSD: With EUR maintaining its bullish bias, further gain is envisaged in the new week. Resistance resides at the 1.3800 level where a violation will turn attention to the 1.3850 level and then the 1.3900 level, its psycho level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, to annul its past […]
USDCHF: With a third-week of decline as occurring the past week, further weakness is likely towards the 0.8798 level, its Dec 27 2013 low. Further down, support lies at the 0.8750 level with a cut through here paving the way for a run at the 0.8700 level, its big psycho level. Below here if seen […]
The EUR/GBP was higher in Europe after the Office for National Statistics reported weaker than forecast UK retail sales. The pair, however, consolidated lower ahead of the North American session, as market sentiment continued to support the British pound. The pound was unable to test new highs this week after employment data failed to live […]
The GBP/USD was higher at the end of the week, despite a series of disappointing releases from the UK Office for National Statistics. With recent data showing the US economy turned a corner in February after a severe winter, the GBP/USD could find itself in reversal mode next week. UK retail trade in January fell […]
The USD/CAD pair continued to pull ahead at the end of the week, testing new highs amid a string of mixed Canadian data. Weaker than forecast Canadian retail sales outweighed faster inflation growth, a sign investors have all but abandoned hope in the loonie. The USD/CAD pair approached 1.12 in Europe before consolidating in the […]
Overview: USD/JPY is expected to trade in a higher range. It is underpinned by the positive dollar sentiment (ICE spot dollar index is 80.28 versus 80.18 early Thursday) and the yen-funded carry trades amid improved investors’ risk appetite (VIX fear gauge eased 4.58% to 14.79; S&P rose 0.6% overnight) on rise in the Markit U.S. […]
February 21, 2014 – Indices News Traders have turned to Asian stocks after the U.S manufacturing report released much better figures than expected. Traders were looking ahead for this report as recent bad data was blamed on poor weather conditions. The report highlighted the fastest overhaul in the U.S manufacturing sector since 2010. This boosted […]
Overview: USD/CHF is expected to trade with risks skewed higher. It is underpinned by the positive dollar sentiment. But the USD/CHF gains are tempered by the franc demand on the soft EUR/CHF cross and on the buoyant CHF/JPY cross and positions adjustment before weekend. Daily chart is mixed as MACD is bearish, five- and 15-day […]
Overview: GBP/JPY is expected to rebound. It is supported by the positive risk appetite and demand from Japan importers. But EUR/JPY gains are tempered by the Japan exporter sales and weaker euro sentiment and positions adjustment before weekend. Daily chart is positive biased as MACD and stochastics are bullish, although latter is at overbought zone, […]
Overview: NZD/USD is expected to trade in higher range. It is supported by the Kiwi demand on NZD/JPY cross amid reduced risk aversion and hawkish Reserve Bank of New Zealand’s monetary policy stance. But NZD/USD gains are tempered by the positive dollar sentiment and official stance against strong Kiwi exchange rate and positions adjustment before […]
There was little movement in major currency pairs leading into the weekend, partly due to hardly any news releases today. The only major data out during today’s European session was from the United Kingdom for January retail sales. Sales volumes dropped by 1.5% month-over-month, down from December’s surge to 2.5%. This was bigger than the […]
AUD/USD Elliott Wave analysisThe AUD/USD pair has continued trading in a choppy sideways movements yesterday, corrective wave [b] (coloured black) of the bigger wave B (coloured blue) has been developing. In the 1-hour chart above, we can see the Triangle pattern developing from the 0.8935 level. As long as the price stays below the 0.9030 […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued upwards movements, wave (iii)/(c) (coloured green) of the bigger wave [a] (coloured black) has been developing. In the 1-hour chart above, we can see that wave (ii)/(b) (coloured green) has completed short down cycle from 1.1092 at 1.1059 level. At the moment, we […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – UK unemployment to shake sterling – 19 February 2014 Written by the easy-forex team Currencies The euro (EUR) continues to rise against the US dollar (USD) as the pair moves above 1.37616. The single currency has risen above a one month high as the dollar […]
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Hi eToro users, I received some eToro Credits in my trading account. I haven’t traded for quite some time so I was hesitant to open a position. I avoided the account for a few days, leaving me feeling awkward. An account without trading is simply boring. So I finally decided to muster up the courage […]
Major headline-grabbing news will probably be absent from the week ahead, as a raft of economic data will illuminate the state of the Eurozone economy and whether Japanese inflation is on course for 1.5%. Revisions to the GDP data of the United States and the United Kingdom will also be closely watched. For the euro, […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,324.76 on lower volume. Our previous analysis is still valid. The price stopped at FR 61.8% (1,322.00). We can observe low volume demand around the price of 1,323.00, which is the sign that buying at this stage is risky. […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, the price tested and rejected from the level of 1.6492 on an average volume. Our previous analysis is still active. We can observe selling climax at the price of 1.6517, so selling at this stage looks risky. Our first major target has been […]
Gold price has broken above the downward sloping trend line resistance and is now making a try to reach previous highs. This upward move that started after the low at $1,306 is most liekly to be the beginning of a new upward move that could push the Gold price towards $1,400. Gold price is trading […]
In our previous analysis, we mentioned that the Dollar Index was oversold and made a double bottom and that there was increased chances of an upward bounce. We expected the Dollar Index to rise first towards 80,40 and then towards 80,60. The index has managed to hold above its recent lows and it is now […]
Today’s Support and Resistance levels: R3: 1.6747 R2: 1.6673 R1: 1.6578 Current Spot: 1.6505 S1: 1.6477 S2: 1.6412 S3: 1.6342 Technical summary: The wave 1 ended little earlier than we expected. Wave v became equal in length to wave v, which is a common relationship. With the break below 1.6574 we knew that the wave […]
