European markets have opened lower today, as investors opted to remain on the sidelines before central banks from the US and the UK release minutes of their latest policy meetings. Closer home, investors will also keep a close eye on the release of job data due later in the day to get cues for further […]
The US dollar was weakened by softer economic data. The Federal Reserve Bank of NY said that the general business conditions index came at 4.48 for the current month vs 12.51 in January. USD is volatile ahead of FOMC minutes. Traders are waiting for the monetary policy outlook. During this year, the US disappointed economic […]
Technical outlook and chart setups: 1. Silver produced a doji yesterday, that is indicative of a potential down move from here. Please note that any fall from here would be corrective and opportunity to go long. Aggressive trading setup would be to initiate short positions at the $21.75 levels, risk remains just above $22.00. 2. […]
Japan’s central bank maintained its policy stance. Japan will continue to ease in order to achieve the inflation rate at 2%. They extended and doubled the size of its bank lending. Under the growth support facility, the central bank’s maximum provision of funds was doubled to 7 trillion yen from 3.5 trillion yen. They doubled […]
When the European market opens, there will be released the German 10-y Bond Auction.The US will release the economic data too such as the US-Building Permits, US-PPI m/m, US-Core PPI m/m, US-Housing Starts, so amid the reports, EUR/USD will move with low volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3832. Strong Resistance:1.3823. […]
Daily chart: USDX is consolidating below the resistance level of 80.11 with a higher low pattern, so USDX is likely to continue falling below this level, reaching the support level of 79.19 in the long term. However, USDX formed a fractal near the level of 79.85, so USDX may perform a bullish rebound and achieve […]
Technical outlook and chart setups: 1. Gold has given its first signal of a potential retracement built up. Having reversed from $1,333.00, the metal is expected to retrace at least towards $1,270.00/75.00 region. It is recommended to initiate short positions around $1,227.00/28.00 today, risk remains at $1,235.00. 2. Immediate resistance is at $1,360.00, while supports […]
Daily chart: GBP/USD has fallen to the support level of 1.6663 and this is part of the corrective movements for bullish bias on this pair, since the GBP/USD is overbought in this chart. However, if this pair makes a breakout at the support level, it is expected to fall to the level of 1.6540, which […]
February 18, 2014 – Indices News Stocks surged in the Asian market today as traders were watching the speech of Bank of Japan Governor Haruhiko Kuroda for economic clues. The BOJ has decided to double its growth lending program and has stated that individual banks could increase their borrowing levels. In addition, Kuroda made a […]
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EURJPY- Having rallied and broken through the 140.29 level during early trading today, further upside is likely. Further out, the 141.27 level, its Jan 29 2014 high comes in as the next upside objective where a violation will aim at the 142.00 level and subsequently the 142.41 level, its Jan 23 2014 low. Converse, support […]
February 18, 2014 – Stock Market News Today’s Hot Asset – Coca Cola Stocks in the U.S. have opened trading slightly higher during today’s late session. Investors are still managing to find equities appealing following the depreciation of the dollar. This a little surprising, as economic manufacturing data released in New York was actually negative […]
Market sentiment appears to be favouring the euro in the early part of the week. The euro was bolstered after European Central Bank Executive Board member Peter Praet said Eurozone growth may “surprise on the upside.” The EUR/GBP pair strengthened following Praet’s vote of confidence, despite mostly weaker than expected ZEW data. The ZEW Economic […]
Overview Today’s H4 chart shows that the metal is still trading between the support level of 21.75 and below the resistance level of 21.75 after its failure to break the resistance level yesterday to continue the upward trend. Today, silver bounced from the resistance level to take a slightly downward move and trade below it. […]
The GBP/USD was non-eventful in the first European session following the US President’s Day holiday. The pair is eying a breakout following the release of UK claimant counts later in the week. Ahead of the North American session, trade was subdued, as investors reacted to several pieces of disappointing data. In the UK, consumer inflation […]
The EUR/USD pair was trading higher in the early part of the week, as US investors made their way back to the trade table after the President’s Day holiday. The pair rose despite mostly weak ZEW Survey data from the Eurozone. The ZEW Economic Sentiment Index, a measure of institutional investor sentiment, declined from 61.7 […]
Overview From the today’s H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the resistance level of 170.50 after it has been tested yesterday. Today the pair took an upward movement and managed to break the strong resistance area of 170.50 then […]
The Bank of Japan’s regular monetary policy meeting contained few surprises as the bank retained its pace of asset purchases at around 60-70 trillion yen a year (589-687 billion dollars) or 6-8 trillion yen a month. What the Bank did decide was an increase in a bank lending facility to 7 trillion yen – roughly […]
News releases out of the Eurozone and the UK caused some volatility in the currency markets today. German ZEW investors’ confidence data had an initial weakening effect on the euro as the February figure fell to 55.7, down from January’s 61.7 and recorded the second straight monthly drop. Investors in Europe’s largest economy were likely […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Dollar higher amid strong recovery signs – 31 January 2014 Written by the easy-forex team Currencies A stronger dollar pushed the euro (EUR) lower as the pair moved below 1.3543 in early trading. The single currency may come under stress today as Eurozone price data […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading downwards, impulsive wave (iii) (coloured green) of the bigger wave [c] (coloured black) has been developing. In the 1-hour chart of the pair above, we can see that we are tracking impulsive wave (iii) since 1.0991, at the moment only sub-waves i […]
AUD/USD Elliott Wave The AUD/USD pair has continued trading downwards, corrective wave [ii] (coloured black) of the bigger wave C (coloured blue) has been developing. In the 1-hour chart of the AUD/USD pair, we can see that wave [ii] is taking a form of the FLAT correction and while the price stays above the low […]
General overview for 18/02/2014 12:15 CET The corrective cycle wave (iv) blue is getting more complex and so far the most accurate corrective price formation would be a triangle. That means the market might stay within the treading range between the levels of 1.0944 – 1.0987 for some time now and only a breakout would […]
Overview: Since our last analysis, gold has been trading downwards, like we expected, the price tested the level of 1,312.42 on average volume. Gold is still in major bullish corrective phase, but we may see possible end of that bullish corrective phase. We can observe decreasing volume on upper leg, which is a sign that […]
Monday syndrome (being bored and lazy because it’s the beginning of the week and you must get out of the warm sheets and start bringing back some bread to put on the table) is not only a fact, but if you don’t take it seriously it can be extended to tuesday. That’s why we have […]
The Euro declined from its three-week high against the US dollar after Germany’s ZEW indicator came in below expected, reports from the eurozone’s largest economy confirmed on Tuesday. The 18-bloc currency traded 0.06 higher at $1.3717 against the US dollar at the time of writing, after the euro climbed to a three week-high, climbing to […]
Stocks in Asia were seen trading slightly higher on Tuesday, with shares in Japan rallying before the release of the Bank of Japan (BoJ) monetary policy statement, which is expected to be released later in the day. The Japanese benchmark Nikkei 225 index came in at 1.26% to 14,573.95 at the time of writing, at […]
“The biggest risk is not taking any risk… In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg Risk is the first and last thing on the minds of professional and amateur investors alike. It’s very personal though, and each person must choose […]
The gap in reported economic output between China’s provinces and national statistics narrowed for the first time in six years as Communist Party leaders promised to trim down the focus on development in assessing local officials. The mixed nominal economic output of the 31 provinces progressed about 9.2 percent in 2013 to 62.9 trillion yuan […]
PSA Peugeot Citroen’s transaction to merchandise stakes to France and Dongfeng Motor Corp. may end up exchanging a cash influx for a shareholder structure that threatens to hobble the manufacturer’s decision-making, analysts said. The board of Europe’s second-biggest carmaker will have an assembly tomorrow to vote on the agreement. Under the outline of the plan, […]
