By the end of 2013, the bulls managed to record a new annual high at 1.6576. This was achieved after stabilization of 1.6250 as a support level. Bearish pressure was applied at price level of 1.6590 to get the pair back again below 1.6460-1.6500 after the bulls managed to break through this zone for a […]
The USD/CAD pair has been strongly bullish since September 16. The current Bullish momentum started when obvious bullish rejection was expressed on testing of 1.0250 (shown on the depicted chart). Daily fixation above 1.0575 enabled the pair to reach 1.0660 then 1.0700. A consolidation zone was established between 1.0575-1.0700 (the upper limit of which applied […]
The main event of the day was the release of the all-important US nonfarm payrolls report which missed forecasts and caused the dollar to tumble. The December figure came in at a mere 74,000, contrary to predictions for a number of at least 197,000. There were even some predictions for a 250,000 increase in jobs […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,237.37 on average volume. The price rejected successfully from our SR zone at 1,219.00. We can also В observe that strong demand entereted market at 1,223.00, which is a sign that selling at this stage looks risky. […]
Overview: USD/JPY is consolidating with risks skewed lower as markets await 1,330 GMT U.S. December nonfarm payrolls (expected to have increased by 200,000) and unemployment rate (expected to stay unchanged at 7%). A very strong jobs report would raise worries that the Federal Reserve could wind down its bond buying at a faster pace and […]
Overview:В NZD/USD is trading in a range as markets await U.S. nonfarm payrolls report. NZD/USD is supported by weaker dollar sentiment. But NZD/USD upside is limited by Kiwi sales in rebounding AUD/NZD cross, weak China economic outlook, soft commodity prices, positions adjustment before weekend. Daily chart is mixed as MACD is bullish, but stochastics is […]
Overview: USD/CHF is consolidating in a higher range as markets are awaiting the U.S. nonfarm payrolls report. USD/CHF is undermined by the weaker dollar sentiment, the franc demand in the soft EUR/CHF cross. But the USD/CHF losses areВ tempered by positions adjustment before the weekend. Daily chart isВ mixed as MACD is bullish, but stochastics turned bearish […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upward movement, as like we expected, price tested level of 1.6526 on average volume .As you can see on the 1H chart, price has been break our FE 38.2 % at 1.6500, so we may expect testing of next Fibonacci 61.8 % around the […]
Overview: GBP/JPY is consolidating as markets await U.S. nonfarm payrolls report. GBP/JPY is undermined by Japan exporter sales. But GBP/JPY downside is limited by buoyant EUR/USD undertone; demand from Japan importers; positions adjustment before weekend. Daily chart is mixed as MACD bearish, but stochastics is turning bullish near oversold area. Trading recommendation: The pair is […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Canadian dollar reached its two and a half year low – 08 January 2014 Written by the easy-forex team Currencies The euro (EUR) dropped down to 1.3596 and lost almost 60 pips against the US dollar (USD), after worse than expected inflation data came out […]
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:Weekly Forex Outlook: 12/04/2024 – More inflation data on… April 12, 2024 CPI numbers due in the UK and Japan. China to also…Video market update for April 11, 2024 April 11, 2024 […]
January 10th 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened higher today, as investors anticipated that the upcoming US nonfarm payrolls data would confirm strength of the US economic recovery. Closer home, investors awaited the release of UK industrial output which is forecasted to grow 0.4% MoM in November, the […]
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В General overview for 10/01/2014 09:35 CET The corrective cycle in wave (ii) green is still in progress; however, the first clues of a possible end of this cycle are visible and a an intraday downtrend might show up soon. Currently, in intraday time frame there are two possible counts for the corrective cycle and the […]
В General overview for 10/01/2014 CET The Very Strong Confluence Zone lower boundary at the level of 1.0871 has been hit, but higher prices has been rejected so far. This would mean, the top for the whole impulsive wave progression to the upside might be in place, because the rejection from the level of 1.0871 to […]
Commodities rise ahead of Payrolls. Morning Report: 08.15 London • Markets are generally subdued this morning ahead of US Non Farm Payrolls at 13.30. The dollar index is on the back foot, helping dollar pairs to rise and commodities to find some buyers. • Silver is up 0.92%, with gold up 0.52%. […]
Gold started the New Year on a firmer footing after bouncing off 6-month lows (1182.16) hit on December 31. Looking at the daily chart, gold has spent the last 10 days consolidating and hovering around the 23.6% retracement Fibonacci level of the move down from the October 28 high (1361.60) to the December 31 low […]
Today’s Support and Resistance levels: R3: 1.6621 R2: 1.6575 – Important resistance. Low of red wave i. R1: 1.6546 Current Spot: 1.6516 S1: 1.6483 S2: 1.6435 S3: 1.6397 Technical summary: The expanded flat scenario has worked well and as long as support at 1.6483 protects the downside we could see red wave c extend a […]
EUR/USD: В On this pair, the outlook that was seen yesterday remains unchanged. In the market, the current surge (upturn) in the price simply means that it is rising in the context of a downtrend. The downtrend is still a valid thing, and the price is not expected to go above the resistance line of 1.3650. […]
Today’s Support and Resistance levels: R3: 143.52 R2: 143.17 R1: 143.03 Current Spot: 142.83 S1: 142.56 S2: 142.26 S3: 142.04 Technical summary: We still think we are in the very early parts of the powerful wave iii lower towards at least 136.43. That said, we need to see the downside challenged soon, otherwise the risk […]
USD/CAD Elliott WaveВ The USD/CAD pair has been steadily trading upward for the last few days, extended iii wave (coloured blue)В of the bigger (a) wave (coloured red) has been developing.In the 1-hour chart above you can see thatВ yesterday price movementsВ makesВ us to think that wave .v (coloured blue) has completed the bigger wave iiiВ in the Ending […]
AUD/USD Elliott WaveВ The AUD/USD pair has been trading in a choppy downward move from the 0.9000 level, while this high holdsВ we are favoring to see more selling pressure in the final wave (v) (coloured red) that is currentlyВ developing. In the 1-hour chart above, you can see that pressure from 0.8952 is to high and […]
The US dollar regained its bullish momentum against the yen as markets look ahead to the nonfarm payrolls report due later in the trading day. The dollar had a volatile day on Thursday as focus switched from the European Central Bank and Bank of England policy announcements, and then US jobless claims data. As expected, […]
Daily chart: The USDX found dynamic resistance in the 200 SMA, which could mean a change in the trend of the USDX, because the 200 SMA is a fairly strong level. However, the USDX is forming a bullish pattern, so we must be alert to any signs to place buy orders. On the other hand, […]
Daily chart: The GBP/USD is being prepared for the volatility that comes in a few hours, when will be published some important economic indicators in the United States, as this pair has been making very slow movements in the past hours. It should be noted that the GBP/USD is forming a bullish pattern, so it […]
Gold is trading in a tight range holding its support at the level of $1,220. On the upper side it facing selling pressure from the level of $1250. Until it breaks either side, we can’t see further move. We could recommend selling on rallies. In the daily charts the momentum indicators show a mixed bag, […]
Daily chart After having reached a minimum of 91.24 during the session on Thursday, crude oil was very close to the end near the minimum of eight months. However, not having found sufficient support, the price was quoted over 92.00 dollars a barrel. Having closed in this way, the CL has left a long wick […]
When the European market opens, some economic news will be released such asВ French Industrial Production m/m, Final GDP q/q. The US will release the most important economic data such as theВ US-Non-Farm Employment Change, and the US-Unemployment Rate, so amid the reports, EUR/USD will В move with medium to high volatility during this day. TODAY’s В TECHNICAL В LEVELS:В […]
In Asia, Japan will release theВ Leading IndicatorsВ and the US will release the most important economic data such as US-Non-Farm Employment Change, and the US-Unemployment Rate. So there is a big probability the USD/JPY will move with low volatility during the AsianВ session, but with high volatility during the US session.В TODAY’s В TECHNICAL В LEVELS: Resistance. 3 : […]
European markets have opened higher today, as investors anticipated that the upcoming US nonfarm payrolls data would confirm strength of the US economic recovery. Closer home, investors awaited the release of UK industrial output which is forecasted to grow 0.4% MoM in November, the same rate as seen in October. Related Posts:Market Comment – Stocks […]
