Technical outlook and chart setups: 1. Gold has been making higher highs and higher lows for now and has taken out resistance at $1,294.00. A meaningful pullback is awaited to enter long positions. The expected level is between $1,20.00 and $1,230.00. Flat for now. 2. Immediate support is at $1,230.00, followed by $1,220.00/10.00 and lower, […]
In Asia, Japan will release the Core Machinery Orders m/m, Tertiary Industry Activity m/m, M2 Money Stock y/y, Prelim Machine Tool Orders y/y and the US will release some economic data such as US-Crude Oil Inventories, US-10-y Bond Auction, US-Federal Budget Balance. So there is a big probability the USD/JPY will move with low to medium […]
When the European market opens, there will be a release of Industrial Production m/m.The US will release the economic data such as the US-Crude Oil Inventories, US-10-y Bond Auction, US-Federal Budget Balance, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3700. Strong […]
Gold again prove itself as a hedging machine. Traders choose gold as an investment vehicle resulted, the metal climbed 3-months high. Yellen’s testimony was part of the Fed’s semi-annual monetary policy report that was released. Thursday, Yellen is scheduled to testify before a Senate committee. If the economy moves in the same phase, the Fed […]
Technical outlook and chart setups: 1. The EUR/JPY pair has tested resistance line at 140.00 levels as seen here. It is still recommended to remain flat and await for a reaction here. Aggressive traders may go short, risk remains at 143.00. 2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, while supports are […]
Technical outlook and chart setups: 1. Silver continues to trade within the discussed range of $19.00 and $20.00 respectively. A push above $20.50 is required to accelerate higher towards sub $22.00 and $24.00 levels. It is still recommended to remain long and also look to buy on dips towards range bottom. 2. Immediate support is […]
European markets have opened higher today, after China reported a surprise widening in its January trade surplus and as investors cheered the US Federal Reserve Chair Janet Yellen’s reassurance of a supportive US monetary policy. Closer home, investors await the release of the UK Conference Board’s Leading Economic Indicator and the Bank of England (BoE) […]
GBPUSD: We continue to hold our bullish outlook on GBP as it looks to recover further higher. This development leaves it targeting the 1.6497 level, its Jan 30 2014 high as the next upside. Further out, resistance resides at the 1.6550 level where a breach will aim at the 1.6600 level, its psycho level. A […]
Daily chart: The USDX tried to consolidate below the level of 80.62 but failed. However, in this chart, the bearish bias remains very strong, as there are high chances that the USDX start forming a bearish pattern, so a breakout at that support level could occur. On the other hand, if the USDX makes a […]
Daily chart: The pair managed to touch the resistance level of 1.6447 and is now forming a lower high pattern. If the pair manages to make a breakout at that level, it would be expected to rise to the level of 1.6540. However, it is very likely that during this week, GBP/USD is starting making […]
Trading recommendations: The EUR/USD pair is in the short term. The price of the EUR/USD pair is going to turn to bearish sentiment from the level of 1.3722. Accordingly, it will a good sign to sell below 1.3722 with the first target of 1.3636 to test a minor support at this price. Also, it will […]
Overview: It should be noted that the key level has set at the level of 0.8378. Therefore, this level is going to act as the strong resistance on February 12, 2014. As it is known, history will probably repeat itself at this level again. According to the previous events, the NZD/USD pair is still moving […]
Those who trade gold pushed the price of the precious metal to its highest level in two weeks on Feb. 10, and the demand of Chinese buyers was a major factor that was cited as helping the commodity enjoy this gain. Some market experts also noted the lackluster state of the recent jobs reports released […]
February 11, 2014 – Stock Market News Today’s Hot Asset – Facebook Stocks in the U.S. have opened the day trading higher. Investors are not overly optimistic following Janet Yellens testimony today and this is making stocks a more appealing investment. Stocks opened the day trading mixed, however Janet Yellens testimony has given private equities […]
The EUR/USD held its ground early in the week, as a light economic calendar kept trade subdued. The pair strengthened moderately in the first session of the week after Eurozone investor confidence rose at a faster rate than forecast. The Sentix Investor Confidence Index rose from 11.9 to 13.3 in January. The major peers are […]
The USD/CAD continued to ease off its 4 ½ year highs, suggesting the pair may be experiencing a bearish divergence. In what will be a relatively subdued week of trading, all eyes are on Federal Reserve Chair Janet Yellen, who is expected to make her first testimony in front of Congress. Janet Yellen was nominated […]
February 11, 2014 – Indices News Asian markets climbed early this morning in anticipation of Janet Yellen’s speech and some better than expected housing data from Australia. Sentiment in the market was that due to worsening US data, the Fed would hold off on further tapering of the stimulus – making the outlook for global […]
Overview: USD/JPY is expected to consolidate after hitting its six-day high of 102.65 on Monday as markets await the Federal Reserve Chairwoman Janet Yellen’s first semiannual testimony before the U.S. House Financial Services Committee. Ms. Yellen is expected to deliver a message of continuity in U.S. monetary policy. Liquidity was thin in Asia today as […]
Overview: NZD/USD is expected to range-trade. It is undermined by the Kiwi sales on NZD/JPY cross amid waning investor risk appetite. But NZD/USD downside is limited by the negative U.S. dollar sentiment, the Kiwi demand on soft AUD/NZD cross and hawkish Reserve Bank of New Zealand’s monetary policy stance. Daily chart is still positive-biased as […]
Overview: USD/CHF is expected to trade with risks skewed lower. It is undermined by the negative U.S. dollar sentiment. But the USD/CHF downside is limited by the franc sales on soft CHF/JPY cross. Daily chart is negative-biased as MACD and stochastics are bearish. Trading recommendation: The pair is trading below its pivot point. It is […]
Overview: GBP/JPY is expected to consolidate. It is supported by buoyant EUR/USD undertone. But GBP/JPY upside is limited by subdued risk sentiment before the congressional testimony of Fed Chairwoman Janet Yellen. Daily chart is still positive-biased as stochastics is bullish, MACD is staging bullish crossover against its exponential moving average. Trading recommendation: The pair is […]
The bulls managed to hit fresh highs (around 1.1220) that haven’t been visited since 2009. Recently, the USD is failing to keep its gains against CAD, and the USD/CAD pair was pushed to the downside indicating weakness of the ongoing bullish momentum. This is manifested in the previous weekly candlestick that came as bearish engulfing […]
Travel group, Thomas Cook Group (TCG.L) was downgraded by Numis Securities today as the company continues to struggle to cut its losses and return to profit. Numis changed its recommendation to ‘hold’ from ‘add’ after Thomas Cook revealed that although its losses have been cut for the last quarter, revenue is down as fewer people […]
Communications company Cable & Wireless (CWC.L) announced third quarter results and said it continued to have confidence in its outlook for 2014 with mobile revenue up 4% across the group and particularly strong sales in Monaco and the Carribean. Also having an impact is the companies current cost reduction program. The highlights of their interim […]
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 towards a 1.6470-1.6500 “prominent resistance zone.” A valid SELL position can be taken […]
Hello eTorians. Today we have two interesting stories about strong and powerful women. One is a respected academic who will dedicate her life to guide the destinies of one of the most powerful economies in the western world. The other is a great professional, who has taken over one of the giants of the automobile […]
There were no fundamental data releases during the European session on Tuesday so the anticipation of Fed Chair Yellen’s testimony was the main market focus. The dollar was predominantly weaker leading into Yellen’s first testimony since she took office on February 3, and was to appear in front of the House Financial Services Committee at […]
Obvious bearish rejection was expressed at 1.3850 thus the pair failed to reach 100% Fibonacci Expansion at 1.3904. Instead, a strong bearish impulse was expressed to reach 1.3520 then 1.3475. Recently, the pair expressed a false breakdown of the demand zone of 1.3550-1.3500 (long-term uptrend line). This opened the way directly towards 1.3475 which pushed […]
As shown in the today’s H4 chart, the metal failed again to break the Support level of 20.00 and is still trading above the Support level and inside its bearish channel. Currently silver is bouncing from the Support level and starting for the bullish move. So we still suggest waiting for closing above the Resistance […]
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 […]
