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Hello eTorians, Let me tell you that today was filled with interesting and exciting news. Yesterday was a very important day as Ben Bernanke, chairman of the FED, made his last speech after eight turbulent years in the U.S economy. The Fed decided to further reduce its monthly bond purchases by $10 billion, to $65 billion. Bernanke adjourned his last policy-setting […]
USD/CAD Elliott Wave For the last few sessions, the USD/CAD pair has started to go lower, corrective wave [x] (coloured green) or wave [i] (coloured green) has started developing. In the USD/CAD 1-hour chart we can observe a descending movement from the 1.1198 level, possible end of the [y] wave (coloured green), and we are […]
AUD/USD Elliott Wave Since our last forecast, the AUD/USD pair has been trading upwards, we are still tracking wave iii (coloured blue) of the bigger wave (v) (colorued red) as the best possible structure, but we are going to discuss an alternate count since we are close to our invalidation levels today. In the AUD/USD […]
It was a busy day in the currency markets, with several data releases causing volatility. The main mood was risk-off as soft China PMI data today gave investors a fresh excuse to move out of risk. The euro was sold off early in the European session, falling below the key 1.36 level, kept under pressure […]
Yesterday, the pair failed to break the Support level of 168.50 to reverse its bearish movement and took a slightly upward move. As seen in today’s H4 chart, it is currently trading below the Resistance level of 169.50. Given that, the pair continues its bullish movement and closes 4H above the Resistance level of 169.50, […]
Overview: Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of 1,250.58 on higher volume. I have placed Fibonacci expansion levels from the most recent swings and I got FE 61.8 % at price 1,251.00 (currently on the test) and FE 100 % at price 1,240.00. We […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards. Just as we expected, the price rejected from the level of 1.6422 and tested level of 1.6721 on the high volume. We can observe that strong demand has entered the market at price 1.6515 which is good sign of bullish strength. I have […]
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 […]
Crude oil prices advanced following the report released by the EIA, which showed that inventories climbed higher than expected last week. West Texas Intermediate (WTI) rose , trimming the biggest monthly fall for January since 2010 as market participants focus on the release of the US GDP later in the day. Meanwhile following the Federal […]
The Australian dollar rebounded from its recent gains on Thursday. The Australian currency was dragged lower by the Federal Reserve’s (Fed) decision to reduce its monthly bond purchases and China’s weak Purchasing Managers’ Index (PMI). Following the Federal Reserve’s two day policy meeting, Fed policymakers concluded the meeting by deciding to reduce the central bank’s […]
The bulls have managed to reach new price levels (around 1.1180) that haven’t been reached since 2009. Temporarily, USD failed to keep its gains against CAD, and the USD/CAD pair was pushed to the downside until Monday when another bullish impulse was initiated on retesting of 1.1030. The next prominent resistance level is located around […]
GBP/USD had been moving within a wide-ranged price zone extending between 1.5900 and 1.6250 until November 27 when a bullish breakout took place. Since then, the bulls have been defending 1.6250 as a prominent support. Another successful bullish retesting took place in mid-December that pushed the pair again to the upside. Based on this bullish […]
A breakout above the previous resistance level of 1.3450 allowed the bulls to push within the bullish channel to hit higher levels around 1.3650 then 1.3750. Later on, obvious bearish rejection was expressed at 1.3850 (failing to reach 100% Fibonacci Expansion at 1.3904). Instead, breakdown of the depicted bullish channel took place on January 2. […]
Bullish breakout above 1.6250 took place on November 27. The GBP/USD pair successfully achieved its projection target around 1.6600 which constitutes an Intraday resistance level. Bullish movement took place above price level of 1.6600 reaching the recent high at 1.6666. However, bearish engulfing daily candlestick was expressed off these high levels (1.6666) on Friday. Consolidations […]
Technical outlook and chart setups: 1. The GBP/USD pair seems to have hit a major resistance at 1.6600 recently. It has turned back sharply since then and trading at sub 1.6500 at the moment. It is recommended to initiate short positions now, risk remains at 1.6600. 2. Resistance is fixed at 1.6600, while supports are […]
Technical outlook and chart setups: 1. USD/CHF has broken the longer term down trend line as seen here. Furthermore, prices have just tested the 0.8900 level, which is resistance turned support now. An engulfing bullish signal is appearing. hence recommendations are to initiate long positions. Risk is below 0.8800. 2. Immediate resistance is the recent […]
Technical outlook and chart setups: 1. The USD/JPY has pulled back from its recent highs at 105.00 levels. Currently trading at 102.00, the pair is at fibonacci 0.382 support as seen here. It is recommended to initiate long positions now, risk remains at 101.00. 2. Immediate resistance is the recent swing highs at 105.00, while […]
Technical outlook and chart setups: 1. EUR/USD pair has been trading between 1.3740 and 1.3500 recently. As seen here, prices have turned back just shy of 1.3745/50, which is the 0.618 fibonacci retracement and resistance. It is recommended to initiate short positions now, risk remains at 1.3850. 2. Immediate resistance is seen at 1.3750/1.3800, while […]
In the 21st century, companies are no longer seen as faceless entities. In fact, some of the faces behind our favorite companies, have become as well known and as popular in the media as hollywood celebrities. CEOs and other business executives are no longer seen as boring pencil pushers, but as creative geniuses on par […]
The latest daily video report from easyforex.com, includes all the latest fx market moving news and pairs to watch in the forex markets. Related Posts:EUR/USD. April 25th. Bulls continue to advance and expect a… April 25, 2024 The EUR/USD pair made a new turnaround in favor of…Forex forecast 04/25/2024: EUR/USD, USDX, Gold and Bitcoin… April […]
The Federal Reserve’s bond buying program which began in late 2008 is slowly being wound down. At the central bank’s first policy meeting of 2014, Fed policymakers unanimously voted in favor of continuing to taper its QE program, slashing it by another $10 billion beginning February 1st. This is the second cut in the $85 […]
General overview for 30/01/2014 11:05 CET The market had made the ending diagonal wave (v) blue and the overall impulsive structure looks completed. Currently the impulsive downside reaction should be in progress and the intraday support at the level of 1.1166 should be violated. Price target is technical support at the level of 1.1118 and […]
General overview for 30/01/2014 10:30 CET The key level from yesterday has not been broken and higher prices had been rejected. After price had broken below 140.80 level the impulsive decline accelerated. Currently the five waves to the downside are almost done and the target for wave (v) blue is at the level of 138.56. […]
Emerging Market Turmoil Returns Morning Report: 08.45 London • This morning, financial markets are making good some of last night’s losses, but the damage still remains. • While stock markets stage a rally of sorts, commodities and commodity related currencies are still under pressure after disappointing Chinese Manufacturing PMI data. Silver is off by […]
British pound sank on a third day against the dollar, before the Bank of England releases its report, which economists said would show mortgage approvals increased to the highest level in six years last month. Sterling has slightly changed against the euro. Loans for home purchases rose to 72,900 in December, from 70,758 a month […]
Zimbabwe’s central bank approved domestic trading of Chinese yuan, Indian rupee, Japanese yen, and Australian dollar within the country. Acting central bank governor Charity Dhliwayo unveiled the decision in an issued monetary statement. “We wish to advise exporters and the general transacting public that individuals and corporates can also open accounts denominated in the Australian Dollar, […]
There is a strong downward bias in EURJPY. The pair has been declining since hitting a more than 3-year high on December 27 2013, retracing almost 50% of the up-leg from the November 2013 low (131.18) to the December 2013 high (145.65). On Wednesday the EURJPY pair set a low of 139.02, the lowest level […]
January 30, 2014 – Commodities News Hot asset for today: Gold On Wednesday Gold broke its resistance at 1,265 and climbed all the way to $1,270/ounce where it then reversed. The price was pulled up by strong physical demand from China which is advancing before Friday when the Chinese market will close for a week due […]
January 30, 2014 – Daily Market News Today’s Hot Assets: USD, JPY The US Federal Reserve decided during their monthly monetary policy meeting to reduce quantitative easing by another $10 Billion to $65 Billion. Economic activity is continuing to pick up and continuous improvement is still being seen in the labor market. This brings uncertainty […]
