We are recommending a buy call in this pair from January. It made a high at the level 0.9156 and started correcting. In the daily chart, RSI favour longs. Continuously, the pair was holding the 0.89 levels. It forms a good base around that levels. In Asia’s trading session the pair is trading at the […]
Technical outlook and chart setups: 1.Gold took out yet another resistance at $1,293.00/94.00 yesterday. It is expected that the metal reacts here in a bearish way. Please note that the fibonacci 0.618 resistance of the entire downswing from $1,360.00 to $1,182.00 is at the current price. A bearish reaction here would result in a pullback […]
EUR/USD: The recent bullish signal on this pair has been put in serious jeopardy, but the Bullish Confirmation Pattern is not over yet. The price needs to maintain its presence below the support line at 1.3550 before it can be said that the bullish signal is over. It is very much likely for the pair […]
Daily chart: The USDX continues forming a higher low pattern below the 200 SMA. During yesterday’s session, the USDX made no definitive trend movements in general, since the USDX remains above the support level of 80.62. Recall that if the USDX manages to break that level, it would be expected to drop to the level […]
Daily chart: The GBP/USD had a bullish momentum that has led it to consolidate above the support level of 1.6540. Now, it is very likely that this pair will begin to form a lower high pattern to continue rising as the bullish trend has been quite lateralized this week. For now, we recommend caution when […]
Daily pivot point: 0.9032 Overview: The AUD/USD pair closed at the price of 0.9030. Also, the price has been above the ratio of 50% Fibonacci retracement levels for two days. Equally important, the market showed imperturbability and extended further to as high as 0.9066 yesterday. Consequently, it should be noted that the price has formed […]
Overview: The GBP/USD pair movement will be continued directly from the level of 1.6483 (61.8% of Fibonacci retracement levels) in H1 chart. Moreover, this level was confirmed by the bullish market yesterday. Additionally, the price of the GBP/USD pair has been showing an upward trend at the same price which represents the weekly resistance 1. […]
GOLD: With GOLD remaining biased to the upside, further gain is likely in the days ahead. Despite its price hesitation, its corrective recovery triggered off the 1,182.33 level is intact. Resistance resides at the 1,300.00 level, its big psycho level. A clearance of here if seen will turn focus to the 1,350.00 level. With a […]
February 12, 2014 – Indices News Asian markets went up earlier this morning after better than expected data from China and Janet Yellen’s testimony in America. Though she emphasized that the Fed wants to continue tapering, she noted, dovishly, the labor market will need to improve substantially in order to fully cease providing stimulus. Data […]
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The USD/CAD continued its downward spiral one day after the Canadian government announced its federal budget. The budget provided no immediate relief for the Canadian dollar, which has declined more than 9% over the past 12 months. The North American pair has declined nearly three-quarters of a percent over the past five sessions, as the […]
The EUR/GBP plunged in the European session after the Bank of England’s quarterly Inflation Report said the UK economy will expand 3.4% in 2014, much faster than the 2.8% rate forecast in November. This is expected to push employment below the 7% threshold sooner than expected. However, the BOE is expected to keep monetary policy […]
The EUR/USD pair fell sharply after Eurozone industrial production data failed to live up to forecasts. Meanwhile, ongoing uncertainty concerning Eurozone inflation also weighed on the pair ahead of a keynote speech from European Central Bank President Mario Draghi. Industrial output in the Eurozone expanded at an annualized rate of 0.5% in December, well below […]
The previous multiple tops as well as a recent bottom were established around 1.6250. That’s why a considerable support was provided around this price level. The 4H chart reveals an inverted bullish Head and Shoulders pattern which was expressed around 1.6220 aiming at a 1.6470-1.6500 “previous prominent resistance zone”. Four-hour breakthrough above the price zone […]
The nearest SUPPLY zone is located between 1.3680 – 1.3730 which corresponds to the 50% and 61.8% Fibonacci levels. Yesterday, the pair expressed an inverted hammer daily candlestick while retesting 1.3680 (50% Fibonacci). Fundamentally, industrial production in the euro area witnessed an unexpected decline of 0.7% on a monthly basis in December compared to its […]
Yellen put forward that the Fed will continue tapering its bond buying program, if the economy moves in the same phase. USD traded mixed against its major peers. The USDCAD pair slumped yesterday from the high of 1.1090 to the low of 1.1003. The pair closed below the 23.6 Fibonacci level and its upper trend […]
Overview: USD/CHF is expected to trade in higher range. It is supported by the positive dollar sentiment and franc sales on the buoyant EUR/CHF cross. But the USD/CHF gains are tempered by franc demand on the buoyant CHF/JPY cross. Daily chart is mixed as MACD is bearish, but stochastics are turning bullish. Trading recommendation: The […]
Overview: NZD/USD is expected to trade in higher range. It is supported by the kiwi demand on NZD/JPY cross pair amid positive investor risk appetite, the hawkish Reserve Bank of New Zealand’s monetary policy stance and buoyant commodity prices. But the NZD/USD gains are tempered by the positive dollar sentiment and kiwi sales on the […]
From fundamental standpoint, positive news came from the Bank of England monetary committee which expects the unemployment rate to reach 7% by the first quarter of 2014. This accelerated the ongoing bullish impulse towards 1.6570, according to the fundamental data released earlier today. Today, the GBP/USD bulls managed to bypass/breach the previously established descending bottom […]
The main developments during the European session were weakness in the euro and strength in the British pound as a result of key fundamental news releases today. The euro tumbled against the dollar as European Central Bank Executive Board member Benoit Coeure signaled the ECB may impose negative deposit rates. In an interview with Reuters, […]
Overview Based on today’s H4 chart and according to our yesterday’s expectations, the pair might take new bullish signals in case of closing 4H above the resistance level of 168.50 after it was tested yesterday. Today, the pair took an upward movement and managed to break the strong resistance area keeping its move above the […]
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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 […]
Aerospace company Rolls Royce (RR.L) today announced a new deal with Lockhead Martin to supply 600 engines for C-130J Hercules aircraft. The agreement secures the Rolls-Royce AE 2100 as the engine of choice for all variants of the C-130J to 2025. The engine agreement will service US Government and International contract requirements between 2014 and 2018. […]
Overview: Since our last analysis, gold has been trading upwards, like we expected, the price tested the level of 1,293.82 on ultra high volume (buying climax). Since the price has tested the level of 1,293.82, we have got our upper station at the price of 1,292.00 (FR 61.8 %). If the price breaks the level […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, the price tested the level of 1.6275 on ultra high volume (selling climax). We can observe selling climax at the price of 1.6275 which is sign that selling at this stage looks risky. The area of 1.6300-1.6280 is major support since we’ve got […]
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One can only assume that as he rested against the trunk, sheltering himself beneath the mighty oak’s shade, it hit him – maybe even literally. An educated guess; we know how constricting old timey clothes were and while England isn’t exactly famous for its warm climate, a rest is always welcome after a long day […]
February 12, 2014 – Forex News Hot asset for today: EUR/USD The EUR/USD pair strongly reacted on the yesterday’s testimony of Janet Yellen before U.S. lawmakers. The pair first erased the previous movement up which was made by speculation. Traders awaited more dovish report and due to worse-than-expected labor data maybe even change in a […]
February 12, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold moved up and touched its new 3-months highs. The price turned on $1,293.5/ounce and slightly decreased to $1,285/ounce. The price was reacting on the Fed testimony. First it dropped as the investors saw the actual report and did not find […]
