By the end of 2013, the bulls managed to record a new high for the year at 1.6576 stabilization of 1.6250 as a support level. The GBP/USD pair managed to bypass resistance zone 1.6460-1.6520 for few days until bearish momentum was expressed to get the pair back again below it. The market expressed bearish engulfing daily […]
Overview: USD/CHF is consolidating with bullish bias after hitting one-month high 0.9099 Tuesday. The rate is supported by improved dollar sentiment; franc sales on buoyant EUR/CHF cross. But USD/CHF gains are tempered by franc demand on buoyant CHF/JPY cross. Daily chart is positive-biased as MACD and stochastics are bullish, although latter is at overbought; five-day […]
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, which prevented further bullish advancement recording a temporary high at 1.0735 when bearish engulfing […]
Breakthrough above 1.6240-1.6300 took place in December when another consolidation range was established between 1.6240-1.6450. The last bullish impulse was initiated towards 1.6570-1.6600 in an attempt of bulls to record new highs in 2013. The last bearish rejection took place on Thursday (January, 2) when bearish pressure was applied near the level of 1.6600 […]
Overview: SSince our last analysis, gold has been trading downwards, the price tested again level of 1,223.00 on lower volume (volume leveling off). The price tested again Fibonacci Retracement level 38.2% at 1,223.00 (previous swing high). We can also observe selling climax at 1,226.00, which is a sign that selling at this stage looks risky. […]
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:Video market update for April 08, 2024 April 8, 2024 Potential for the breakout on the USD/JPY…. The material has…Market Comment – Stocks climb after sizzling US jobs report April 8, […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downward movement, price tested level of 1.6382 on very high volume (selling climax). As you can see on the 1H chart, there is a selling climax, which is the sign of bullish strength. Since our FE 161.8 % is held successfully, selling EUR/NZD looks […]
Bullish movement above 1.3450 within the depicted bullish channel allowed the pair to reach further supply levels around 1.3650 then 1.3750, respectively. This took place when obvious bearish rejection was expressed at 1.3800 (failing to reach 100% Fibo Expansion). Shortly after, the daily chart showed a broken ascending channel with a double top reversal pattern, […]
(click to enlarge) The Australian dollar was one of the weakest currencies of 2013, dropping 14.2% against its US counterpart. Worries of overvaluation, verbal intervention by the Reserve Bank of Australia to drive the aussie lower and some growth scares out of China, all contributed to push the currency down despite robust economic growth down […]
January 8th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. Gains on Wall Street overnight followed by a decent session in Asian markets helped European stocks at the open but we are now starting to see some selling pressure as investors express their discomfort ahead of some big hitting macro data and events. S&P500 […]
General overview for 08/01/2014 08:50 CET Price went up in corrective cycle as anticipated yesterday and has hit the 38% Fibo level at 143.09 making this level the top for a possible abc green correction in wave (ii). If this is really the completed simple correction cycle top, then the level of 142.84 should be […]
Dollar dominates on recovery hopes Morning Report: 08.15 London • This morning, the strong US dollar continues to dominate market movements, with the yen pairs being pushed higher across the board. • The USD/JPY is up 0.33%, with the GBP/JPY leading the pack, up 0.43%. • The Canadian dollar is […]
General overview for 08/01/2014: The counts up to Daily time frame have been re-labeled due to yet another high that has been made on this pair recently.Starting from Weekly time frame, traders can see that the two possible target zones for wave Y brown are in view right now, but it is hard to determine […]
Today’s Support and Resistance levels: R3: 1.6546 R2: 1.6503 R1: 1.6470 Current Spot: 1.6445 S1: 1.6398 S2: 1.6366 S1: 1.6285 Technical summary: Red wave iv likely ended at 1.6503 and red wave v is likely developing, however, we still need a break below 1.6398 to confirm that red wave v is developing for a decline […]
Today’s Support and Resistance levels: R3: 143.52 R2: 143.31 R1: 143.16 Current Spot: 142.99 S1: 142.79 S2: 142.61 S3: 142.20 Technical summary: We have seen our corrective target at 143.10 was tested, the high was 143.16. Now we will be looking for a break below 142.79 as the first indication that wave ii has ended […]
Stronger risk sentiment drove the yen lower during Asian trading, as the Nikkei rose on the back of strong gains on Wall Street the previous day. The dollar gained 0.30% against the yen to trade at 104.91. The euro was also stronger against the yen as the euro made back some of its recent losses, […]
EUR/USD: The EUR/USD has tested the support line at 1.3600. In view of the extant bearish bias in the market, it is rational to expect the price to break that support line to the downside. This ought to be done this week, after which the price would continue to trade lower further towards another support […]
Daily chart: The USDX made a bullish rebound above the support level at 80.62, which is a clear indication that this support level is quite strong, so it would be very difficult for the USDX to continue falling at a technical level. However, the USDX has not been able to consolidate above the 200 day […]
Daily chart: This pair continues forming a bearish pattern with slow movements, as this pair is awaiting news from the U.S. that can have high impact on GBP/USD volatility. However, it is very likely that this pair will try to climb back to resistance level of 1.6447, as this pair is finding temporary support at […]
FOMC meeting minutes and Non-farm pay roll numbers attract investors attention. The jobs data reflects on the gold prices. Fed will start tampering in January. If the US economy keeps on turning healthy, then Fed will completely scale back its bond purchasing program in upcoming meetings. Last week we mentioned regarding the interest rates. If […]
During the Asian session today, no data will be released from the Japan government but when the US market session starts there will be some news like the US ADP Non-Farm Employment Change, US Crude Oil Inventories, US 10-y Bond Auction, US FOMC Meeting Minutes, US Consumer Credit m/m. Based on this fact, we predict […]
The EUR/USD today has a chance to move in medium to high volatility because from the Euro Zone we expect such data as German Trade Balance, Italian Monthly Unemployment Rate, Retail Sales m/m, Unemployment Rate, German Factory Orders m/m, and from the US market we will get the US ADP Non-Farm Employment Change, US Crude […]
Trading recommendations: According to the previous events, the price of the GBP/USD pair has still trapped between the level of 1.6470 and the 1.6400 level. Buy above 1.6355 with a first target of 1.6425, it can resume to 1.6468 to test the weekly pivot point for January 6 – 10, 2014. Below 1.65 / […]
Overview: The EUR/USD pair has been trading in a tight sideway range since January 6, 2013 and the price has also set below the weekly resistance 1 at the level of 1.3743, moreover the price has already formed double bottom at the 1.3571 level. Accordingly, the market will move between 61.8% of Fibonacci retracement […]
European markets have opened almost flat today, as investors awaited the minutes of the US Federal Reserve’s last month policy meeting to get additional hints on their future policy stand. Closer home, investors await the release of the Bank of England (BoE) monetary-policy statement, due tomorrow, and the release of the BoE UK credit condition […]
Overview: GBP/JPY will trade with bullish bias undermined by weaker USD/JPY undertone and Japan exporter sales. But GBP/JPY losses were tempered by demand from Japan importers. Daily chart is negative-biased as MACD and stochastics are bearish; five-day moving average is falling below 15-day MA. Trading recommendation: The pair is trading above its pivot point. It […]
Overview: USD/JPY will trade in higher range undermined by weaker dollar sentiment (ICE spot dollar index last 80.67 versus 80.86 early Monday) after surprise drop in U.S. ISM non-manufacturing composite index to 53.0 in December from 53.9 in November (defying forecast for rise to 54.5), while the U.S. ISM non-manufacturing new orders index fell sharply […]
Both charts show a broken ascending channel with a double top reversal pattern, which is being confirmed this week. Bullish movement above 1.3450 within the depicted bullish channel allowed the pair to reach further supply levels around 1.3650 then 1.3750, respectively, when obvious bearish rejection was expressed last week at 1.3800 (failing to reach 100% […]
Overview: NZD/USD is in range-trade. The pair is supported by the Kiwi demand on soft AUD/NZD, EUR/NZD, GBP/NZD crosses and on buoyant NZD/CHF cross. But NZD/USD is upside limited by positive dollar sentiment. Daily chart is positive-biased as stochastics is in bullish mode, MACD turned bullish. Trading recommendation: The pair is trading above its pivot […]
