Weekly chart Crude Oil started the week with a slight drop from 99.18 to 98.63 after posting timid economic performance by the United States fully inverting all quiet due to the upcoming Christmas holiday. Thus the term CL finding support on its second monthly resistance which incidentally is very close to its weekly pivot located […]
European markets have opened slightly higher today, amid persisting optimism about the US economy and following some liquidity operations by the Chinese central bank. However, gains were muted in thin trading ahead of the Christmas break. Meanwhile, economists expect the UK mortgage approvals to gain to 44.50K in November from 42.81K reported in the previous […]
Markets are focused on US data following the Federal Reserve’s announcement on December 18 to scale back its stimulus program. Since Federal Reserve Chairman Ben Bernanke first mentioned earlier this year that tapering was data-dependent, much of the dollar’s recent strength especially against the yen has been driven by improving US data. Last Friday, GDP […]
Overview: GBP/JPY is trading with bullish bias.GBP/JPY gains are tempered by Japan exporter sales. Daily chart is positive-biased as MACD and Stochastic are bullish, stochastics is reverting to bullish due to oversold. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a higher range as far as it […]
Overview: NZD/USD is trading with bearish bias. The rate is undermined by bullish dollar sentiment. Daily chart is negative-biased as stochastics is bearish with oversold, MACD is neutral. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot […]
Overview: USD/CHF is trading in lower range supported by profti-taking on CHF-longs ahead. Daily chart is mixed as MACD is bearish, but stochastics is bearish at overbought. Trading recommendation: The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. […]
Overview: Since our last analysis, Gold has been trading sideways, around the price of 1,198.00. We are still waiting for further downward movement. According to the 4H chart, we can observe lack of demand at price 1,205.00 which may be a sign of further bearish continuation. We are still likely to see it testing the […]
Overview As shown from the today’s H4 chart, the metal is stabilizing between the Support level 19.15 and the Resistance level 19.55 after its failure to break the Support level again last week. Currently we must wait for re-testing the Support level 19.15 again and closing below in order to get the bearish move […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around the price of 1.6710. Today we did not observe major changes, so our analysis is still valid form ysterday. Thus, we are still waiting for further bullish movement and the testing of 1.7000. Since our FR 38.2% has held, the level of […]
Overview From the today’s H4 chart and as it was expected last week, we should have waited for breaking the Resistance level of 170.70 before making a decision to continue the bullish move. Today and as it is shown in the H4 chart, the pair failed to break this Resistance level to reverse its bullish […]
Major currency pairs were mostly range-bound in low volume trading as investors were positioning ahead of the holiday period and the year-end. There were no market-moving news releases today so market participants were still digesting the news of the Fed tapering and the strong US GDP numbers from last week. This kept risk sentiment up […]
On October 23, the GBP/USD pair broke initially the 1.6200 level hitting the area of 1.6250. However, most of the bullish gains were lost when the pair established a Double Top reversal pattern around 1.6200-1.6250. Failure to break down the 1.5900 level was observed weeks ago. Instead, a bullish rejection led to another bullish swing […]
The price zone of 1.3400-1.3460 represented a valuable supply zone that kept the price below for few months. However, a significant bullish support was present around 1.3100 leading to a bullish breakout pattern. Readings of the European Statistical Office disclosed three weeks ago, the European inflation was at 1.1% in September, in line with preliminary […]
Strong bullish sentiment was found at the support area around 1.4830, which pushed the pair to 1.5700, the level where two prominent tops were established, until the bulls initiated another bullish impulse towards 1.6200 where other two prominent tops were established. It is worthy of note, that the market initially expressed a bearish rejection around […]
The most prominent support zone was located around 1.0250. On September 19, the pair expressed a false breakdown reaching 1.0180 where an obvious bullish rejection was expressed to get the pair back above 1.0250 again resulting in a bullish Hammer weekly candlestick. An important resistance level was located around 1.0500. This was the key level […]
General overview for 23/12/2013 10:50 CET The corrective cycle of wave iv black is still not finished and more downside wave progression is being expected. A possible shape of the overall wave (c) blue is abc Irregular Flat correction, that should complete into 140.90 level support. In this case wave iv black would be a […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – EU loses AAA rating – 20 December 2013 Written by the easy-forex team Currencies The euro (EUR) has been on a bearish trajectory since the FOMC statement on Wednesday. The announcement of a USD 10 billion taper has pushed the value of the dollar higher […]
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 11, 2024 April 11, 2024 Potential for the further rally on USD/JPYThe material has been…GBP/USD. April 11th. The US inflation report shocked the… April 11, 2024 […]
Gold is making an upward bounce after reaching near its 1,179 lows. Prices remain in a downward trend in all time frames and this upward bounce is still considered corrective. Prices continue to trade below the trend line resistance levels and the final 5th wave we believe we are in has still more room to […]
General overview for 23/12/2013 10:30 CET After last week analysis, a new high has been made as anticipated and the market retraced impulsivly down. However, there are still two possible scenarios here and the difference between them is in top for wave v black placement. – SCENARIO 1 – Main Count – Current wave progression […]
As expected by the Dollar index, prices are starting to make a pull back test. We have seen the initial bullish signal once the triangle was broken. Now bulls need to show more signs of strength in order to confirm that trend has reversed. Short term support is found at 80.40-30 and short term resistance […]
December 23rd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened higher today, building on their Friday’s good show and tracking today’s gains across Asian markets. Investors also increased their exposure to equities after the IMF upgraded its outlook for the US economy. Meanwhile, economists expect the US personal spending and […]
USD/CAD Elliott Wave Last week, the USD/CAD pair has been trading upwards, impulsive wave (5) (coloured black) of the bigger wave (C) (coloured blue) was developing. During the Friday’s Asian and European sessions, we could observe strong ascending movements from 1.0660 towards 1.0736 and we can consider them as the end of the b wave (coloured black) of […]
AUD/USD Elliott Wave Last week, the AUD/USD pair was trading downwards, impulsive wave (v) (coloured red) of the bigger wave 1 (coloured green) was developing. During the Friday’s Asian and European sessions, we could observe descending movements from 0.8886 towards 0.8855 level. Therefore, during the early New York session this major currency did not manage to hold around the […]
Today’s Support and Resistance levels: R3: 1.6808 R2: 1.6749 R1: 1.6708 Current Spot: 1.6665 S1: 1.6630 S2: 1.6597 S3: 1.6569 Technical summary: Not much is happening here. We are still looking for one last rally higher towards 1.6869 to finish the leading diagonal. In the long term we are looking for much higher levels, but […]
Today’s Support and Resistance levels: R3: 142.89 R2: 142.74 R1: 142.49 Current Spot: 142.36 S1: 142.25 S2: 141.86 S3: 141.41 Technical summary: Do we have an important top in place at 142.89 or are we just consolidating for one last rally higher towards 143.25? It is still an open question. No matter what the outcome […]
Weakness in EURUSD remains at the start of the new trading week after the pair’s sharp drop following last week’s Fed taper announcement. Despite a short rally on Friday that led to the EURUSD briefly reaching the 1.37 handle, the pair has remained capped below this key level. On the 4-hour chart there is consolidation […]
Pound nudges ahead in quiet trading Morning Report: 08.30 London • As is typical of most pre Christmas trading, markets appear to be winding down with significant movement to speak of. Stock markets have continued their bull run, with the S&P 500 posting another small gain this morning. • The pound is also continuing to perform well, […]
The US dollar gave back some of its Fed-induced gains during a relatively quiet Asian session on Monday. Markets in Tokyo were closed for a holiday and the upcoming Christmas holidays led to light volumes and little interest from investors to take on fresh positions. Currency markets were still mostly focused on last week’s Fed […]
Daily chart: USDX has made a slight bearish rebound at the resistance level of 80.62, which would indicate that USDX is forming a lower high pattern. If USDX manages to break that level, it is expected to rise to the level of 81.05. However, USDX has been strongly dominated by the bearish trend, we must […]
