Idea about pivot point: To identify the pivot point and its resistance/support levels, you should use historic rates to determine future prices. It means to use the previous period’s high, low and close to formulate future resistance and support. So, the pivot point is an orbit among three up levels that are referred to resistances […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,261.23 on average volume according to M30 timeframe.We can also observe that demand has entered the market at 1,237.50 which caused the price to start bullish movement. Since the price has broken the level of 1,254.00, […]
Today’s Support and Resistance levels: R3: 1.6594 R2: 1.6521 R1: 1.6499 Current spot: 1.6419 S1: 1.6403 S2: 1.6359 S3: 1.6324 Technical summary: The correction from 1.6214 has become a more complex double zig-zag correction, with the first zig-zag (w) from 1.6214 to 1.6417 followed by an x-wave down to 1.6272 and then the second zig-zag […]
Today’s Support and Resistance levels: R3: 141.91 R2: 141.61 R1: 141.37 Current Spot: 141.32 S1: 141.04 S2: 140.90 S3: 140.60. We now have seen a five wave decline from 145.69 down to 140.49 followed by a three wave rise to 142.91 and from 142.91 a new five wave decline. All this confirms that an important […]
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 26th. Bulls continue to advance after the GDP… April 26, 2024 The EUR/USD pair on Thursday rebounded from the corrective level…Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Consumer sentiment sets the pace – 17 January 2013 Written by the easy-forex team Currencies The euro (EUR) remained range bound in yesterday’s trading session against the dollar. Support lied at 1.3582 while the pair could not move above 1.3647. Today’s US data releases may […]
USD/CAD Elliott Wave After a strong upward movements in the early January, the USD/CAD pair traded sideways last week.You can see on the 1-hour chart above that we are tracking this sideways movements from the 1.0991 level asthe flat correction that currently have two waves completed, we are going to look for one more push […]
AUD/USD Elliott Wave Last week, the AUD/USD pair has been trading downwards, impulsive wave i (coloured blue) of the bigger wave (v)(coloured red) has been developing. In the 1-hour chart you can see that AUD/USD descending move from 0.9083towards 0.8756 level looks as completed cycle, we are seeing price around 0.8805 at the moment and […]
January 20th 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened lower today, as investors avoided taking stronger bets amid thin trade and after China revealed weakening of its economic growth in the fourth-quarter. Closer home, Rightmove reported that the average asking price for a home in the UK rose 6.3% […]
Gold prices continued their upward bounce from $1,180. Our initial bounce target was $1,270. At $1,256, prices made a short term bearish reversal, but the important intermediate support low at $1,220 was never broken. Support was held and prices managed to break above short-term resistance at $1,248 and made a new higher high at $1,260. […]
The Dollar index has made an impulsive rise from 80.40 lows. Prices have managed to make a new short-term higher high at 81.30. This is a good sign for bulls, but we need more. Prices are still below the important high of 81.50 and still inside the important resistance area. Short-term support is found at […]
General overview for 20/01/2014 08:40 CET The anticipated target level for wace c purple to at 1.0983 has been hit. Currently the corrective cycle might be finished and price should react more to the downside. First confirmation will be golden trendline break to the downside. On the other hand, any new high invalidates bearish scenario […]
(click to enlarge) The pound had an interesting first few days to 2014, particularly against the euro, which is also failing to build on its good performance of 2013. The euro fell to its lowest against the pound since early January of 2013 on 9th January 2014 at 0.8229. This level represents support for now, […]
China GDP relief Morning Report: 08.30 London • We’ve had some early volatility this morning as Chinese GDP came in just above forecasts to general relief across Asia. The data hasn’t quite translated into a bullish start to the day for US and European equities, but it has given the Australian dollar some positive momentum. […]
On a daily basis IronFX Head of Global FX strategy Marshall Gittler comments on the world economies and speaks about the forex calendar of economic announcements. Join us for more technical and fundamental analysis: http://www.ironfx.com To get the latest Forex trading news you should: • Like us on Facebook: https://www.facebook.com/IronFX • Follow us on Twitter: […]
Most major currency pairs ended the Asian session little changed compared to Friday’s New York close, as news that Chinese 4th quarter GDP slightly exceeded expectations brought relief to the market and specifically to Asian currencies. Chinese growth for the year 2013 came in at 7.7% compared to 7.7% during 2012, beating the official target […]
EUR/USD: This market has been bearish and it would continue to be so this week. We are watching the support lines at 1.3500 and 1.3450, which are the successive targets for the bears. Meanwhile, the resistance lines at 1.3600 and 1.3650 should act as barriers to any possible bullish threats. USD/CHF: В This, week the USD/CHF […]
European markets have opened lower today, as investors avoided taking stronger bets amid thin trade and after China revealed weakening of its economic growth in the fourth-quarter. Closer home, Rightmove reported that the average asking price for a home in the UK rose 6.3% YoY in January and recorded its biggest annual gain since November […]
Daily chart: The USDX is consolidating above the 200-day moving average, so it is very likely that the bullish trend is extended by a few more weeks in the USDX, but we must bear in mind that the USDX could find resistance at current levels, as the USDX formed a fractal last week at this […]
Daily chart: This pair has found resistance at the level of 1.6447, but the bearish trend in the medium term is still maintained, as this pair hasn’t formed patterns that may indicate a change in trend. However, the trend may change if the pair manages to break the resistance level of 1.6447. Moreover, if this […]
The recovery of the US economy makes the crude prices fly high. The US housing data was better than expected. This shows the health of the US economy. Oil prices are in a deep correction from August 2013 after making a high at the level of $112. Prices rebounded from the lower level of $91 […]
Dow gave a strong rally from October 2012. Now it is trading at a strong resistance trend line. We recommended to sell in our last couple of reports, where 16,700 were acting as a strong resistance. Dow closed above 16,700 and created a new trend setter targets. Support- 16,346 16,190 Resistance- 16,562 16,700 Recommendation- Dow […]
Gold ended the week on a high note close above the 4 weeks high. Gold prices trading near major crucial juncture either break down or short term breakout rally towards up. This new year, gold started its run on a bullish note in a bear market, framed a classic bottom and fitted with higher low […]
Daily chart The USD/CHF after it closed with a clear sailing bullish last Friday, it is more likely that this new week it begins with the upward trend. First, after its final upward momentum, closing above the 5/8 line (green line) which is, as we know the top line of its trading range after having […]
Daily chart Crude Oil ended last week with a Doji of indecision and formed a new maximum although not very far from the previous one. Although it is located in a area of purchase and has been traded at the 4/8 line (blue line) and on its pivot weekly that is located at 93.48 , […]
Technical outlook and chart setups: 1. Gold rallies quickly into resistance at $1,260.00 in early trade today. Minimum measured level here is the $1,267.00/70.00 region. It is recommended to remain flat till then and plan to initiate short positions. 2. Resistance for now is at $1,267.00/70.00, followed by $1,295.00, while support is at $1,240.00, followed […]
When the European market opens, some economic news will be released such as German PPI m/m, German Buba Monthly Report.The US will not release any economic data because of the Bank Holiday, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3579. Strong […]
In Asia, Japan will release theRevised Industrial Production m/mand the US will not release any economic data because of the Bank Holiday. So there is a big probability that the USD/JPY will move with low volatility during this day. TODAY’s TECHNICAL LEVELS: Resistance. 3 : 104.54. Resistance. 2 : 104.34. Resistance. 1 : 104.13. Support. […]
Technical outlook and chart setups: 1. Silver has taken out the $20.50 resistance last week. At the moment, it is recommended to book profits on long positions taken earlier and to wait for a dip to re-enter buying. 2. Resistance is at $20.50, while support is at $19.40/50, followed by $18.75 and lower respectively. 3. […]
Technical outlook and chart setups: 1. The currency pair has formed a lower low at 140.30/40 in early trade today. Still implications are for a counter trend rally to take shape towards 1430.00/50 levels before further decline. It is recommended to go short around this region. 2. Resistance is at 143.00, followed by 145.50, while […]
