The Federal Reserve announced as expected its decision to continue winding down its stimulus program. Fed policy makers unanimously voted to cut the US central bank’s bond buying program by another $10 billion-a-month, to $65 billion. While the news of a reduction in QE would normally be positive for the dollar (since QE tends to […]
Technical outlook and chart setups: 1. The metal has drifted lower towards $19.40, as expected. It is still expected to test sub $19.00 levels before rallying further. It is recommended to initiate 50% long positions now and remaining around $19.00. Risk remains at $18.50. 2. Immediate resistance is at $20.50 (recent swing highs), followed by […]
Technical outlook and chart setups: 1. The yellow metal has retraced up to $1,270.00, which is fibonacci 0.618 resistance of recent fall from $1,279.00 to $1,248.00. It is recommended to hold on to short positions and also look to add further, risk remains at $1,286.50 for now. 2. Immediate resistance is $1,290.00/$1,300.00, while support is […]
In Asia, Japan will release the Retail Sales y/y and the US will release some economic data such as Advance GDP q/q, Unemployment Claims, Advance GDP Price Index q/q, Pending Home Sales m/m, Natural Gas Storage. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with […]
Technical outlook and chart setups: 1. The EUR/JPY is drifting lower for now. Trading below 140.00 levels at the moment, it is recommended to remain flat and initiate short positions on a counter rally towards 143.00/50. The structure remains unchanged for now. 2. Immediate resistance is at 143.00/50, followed by 145.50, while supports are spread […]
Technical outlook and chart setups: 1. The GBP/CHF pair seems to be carving out a head and shoulder reversal as seen here. Prices have turned low from 1.4900 for now. The backside of trendline is also providing resistance around the same level. It is recommended to hold short positions for now. More positions could be […]
EUR/USD: The EUR/USD is still trading above the strong support line at 1.3600 – which has almost been tested this week. The overall bias is bullish and the price ought to go further upwards, breaking the resistance at 1.3700 to the upside this week or next week. USD/CHF: The USD/CHF is still trading below the […]
When the European market opens, some economic news will be released such as German Prelim CPI m/m, Spanish Flash GDP q/q, German Unemployment Change, Italian 10-y Bond Auction. The US will release the most important economic data such as the Advance GDP q/q, Unemployment Claims, Advance GDP Price Index q/q, Pending Home Sales m/m, Natural Gas […]
The Fed decision was widely expected. Overall signs of improvement in the US economy suggest that Fed officials will stay on track to cut monthly purchases of Treasuries and mortgaged backed securities by USD $5billion each. On Wednesday the Fed trimmed another $10 billion, now it comes to $65 billion inFebruary consisting of $30 billion […]
The US Fed is expected to cut its bond purchases by another $10 billion. So starting in February, it will buy $65 billion in bonds per month. Also, there are growing concerns about the impact of slower growth in China that make the US dollar stronger. Estimates from 11 analysts surveyed showed that US oil […]
Daily chart: The USDX continues forming a higher low pattern below the resistance level of 80.62. Now, the USDX is trying to make a breakout at that level, but the USDX has been very weak in the last few hours, so it is very likely to see falls below this level. However, if the USDX […]
Silver has lagged Gold and has been under pressure with the rest of the base metals. 19.334 is a key support, if it holds then it should be ready to move up again. If it breaks, it will be a bearish sign for Silver. So far, its holding above the support. In the daily chart, […]
Daily chart: Although the FOMC meeting was held yesterday, the GBP/USD has not significantly changed so that to change the current trend. For now, the GBP/USD continues to find strong support at the 1.6540 level, so it is very likely that this pair has a bullish momentum in the coming days to climb to the […]
European markets have opened lower today, following Fed’s decision to trim a further $10 billion in its monthly bond purchases and after Chinese manufacturing activity slipped into the contraction territory for the first time in six months. Meanwhile, investors await US GDP preliminary figures for the fourth quarter, slated for release later in the day. […]
Trading recommendations: According to the previous events, the USD/CAD pair is still moving between 1.1185 and 1.1140. Sell below 1.1203 with the first target at 1.1165, then it will be gone towards 1.1125 in order to test this strong support. Buy above 1.1120 (if the trend fails to close below it) with target at 1.1155, […]
US Federal Reserve remained on track of unwinding its bond buying programme on Wednesday, cutting monthly purchases by another $10billion, now down to $65billion per month [starting in Feb.], in line with market expectations. There were no dissenters on the FOMC, the tone on the economy was relatively upbeat and forward guidance was reaffirmed [unemployment […]
Overview: According to beforehand events, the price of GBP/USD pair has still been trapping between the level of 1.6635 and the 1.6515 level, for that it is of the discernment to pay attention at this range area around the level 50% of Fibonacci retracement levels. Therefore, the first step is to looking forward for a […]
He felt really good about this trade. John’s plan recognized a demand zone on the 60 minute NQ E-mini chart and the price action had pulled back as it was about to enter the DZ.The 5 minute chart is where he had placed a bracketed order to go long in the zone with a stop […]
We have been writing about the bottoming process of the Gold Bear Cycle (Elliott Wave Theory) since December 4th 2013, and our most recent article on December 26th reiterated that the best time to accumulate the Gold/Silver stocks was in the December and January window. Specifically this is what we wrote: “These types of […]
Next door to my house, right against the fence, in the neighbours’ yard, grows a cactus. But not just any cactus, a huge cactus. It must be really old. It reaches probably 20 metres into the sky. Usually we don’t spend much time appreciating this cactus. I mean, it’s not the prettiest plant. And it […]
Like other US dollar pairs, the EUR/USD was in consolidation mode leading up to the Federal Reserve’s monetary policy announcement. The pair struck a high of 1.3684 in the European session after the Gfk Consumer Confidence Indicator beat forecast. Gfk’s Consumer Confidence Indicator measures confidence levels among German consumers. It is used to gauge German […]
The GBP/USD was trading to the downside, despite stronger than forecasted UK housing prices. Investors were trading cautiously ahead of the US Federal Reserve’s policy announcement. UK house prices rose 0.7% in January, according to Nationwide. Year-on-year, house prices appreciated 8.8%, beating forecasts calling for 8.5%. The housing sector has been a cornerstone of UK […]
Overview As shown on today’s H4 chart, the metal failed to break the Support level of 19.50 and is still trading between the Support level of 19.50 and below the Resistance level of 20.00 and currently is bouncing from the Support level and is preparing for the bullish move. So we still suggest waiting for […]
Overview According to the today’s H4 chart, yesterday’s closing below the resistance level of 171.50 provided an opportunity to make a bearish move after the price has failed to break it through. As shown here, currently the price is trying to continue its bearish move and is approaching support level of 168.50. In that case […]
News headlines were the key drivers in currency markets today, with knee-jerk reactions to any announcements or comments by officials, causing volatility. Focus was clearly still on emerging markets, even after the brief relief rally after the Turkish central bank rate hike. Risk appetite quickly faded and capital flight continued back into safe havens like […]
Unanimity is not something you’ll ever see in a community like eToro OpenBook. The variety of opinions is what makes a community interesting; it is, as they say, the spice of life. Add money to the equation and you see a great divide in not only opinions, but also communities. Just such an example is […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – US Home Sales set the pace for Markets – 27 January 2013 Written by the easy-forex team Currencies The euro (EUR) remained buoyant against the dollar after rising from 1.3530 to 1.3693 before the weekend. The single currency remained range bound since. Today’s events, including […]
One side-effect of the Federal Reserve’s super-easy monetary policies of the past 4 years or so, is that global markets have been flooded with extra liquidity. Many of the US dollars that the Fed has created found their way out of the United States and into a very diverse array of international assets. As investors […]
Crude Futures were seen trading mixed on Wednesday, as market participants awaits news from the Federal Reserve (Fed) meeting later in the day with predictions of a further reduction to the central bank’s monthly bond purchases. The North American West Texas Intermediate (WTI) for March delivery came in 0.10% lower, trading at $97.32 per barrel […]
The Aussie extended gains against the US dollar for a third day on Wednesday, as investors continue to speculate that the US Federal Reserve (Fed) will continue to cut its monthly bond purchases further which will strengthen the greenback. The currency pair climbed 0.37% to $0.8807 at the time of writing, after reaching $0.8825 earlier […]
