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 […]
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 […]
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 […]
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 […]
Overview: USD/CHF will consolidate after hitting one-month high 0.9070 Monday undermined by weaker dollar sentiment. But USD/CHF losses are tempered by franc sales on buoyant EUR/CHF cross. Data focus: 0800 GMT Switzerland December SNB foreign currency reserves. Daily chart is still positive-biased as MACD and stochastics are in bullish mode, and five-day moving average is […]
The daily chart shows the GBP/USD pair is moving within an expanding wedge pattern since September 10. Daily breakthrough above 1.6240-1.6300 took place in December where another consolidation range was established between 1.6240-1.6450 until the last bullish impulse was initiated towards 1.6570-1.6600 in an attempt of bulls to record new highs in 2013. The last […]
A consolidation between 1.6200-1.5920 was established last month. However, the lack of bearish momentum enhanced by the weakness of USD allowed the bulls to step above 1.6200 on November 27. Failure to break down the support level of 1.5925 failing to complete the projected targets of range breakout allowed the bulls to record a new high […]
Daily Chart The Swiss franc continues to gain positions versus the U.S. dollar, while with other counterparts such as the euro, the American currency tends to be seen the le. As can be seen on the chart, the USD/CHF has its support now at the 4/8 line (blue line),which indicates the neutral zone, so if the […]
The Dollar index shows signs of weakness as prices stay below the important resistance at 81. The pullback from 80.95 could very well be a back test, but unless we see a breakout above 81, we will not turn bullish. We should always respect the support and resistance levels. So bears could take the opportunity […]
USD/CAD Elliott Wave Since our last forecast, the USD/CAD pair has been trading upwards, just like we expected, corrective wave c (coloured blue) of the bigger wave (a) (coloured red) has been developing. In the 1-hour chart you can see that wave c has already extended to minimum 100% of the wave a, so we can already label […]
Gold prices have not managed to break above the short-term resistance level at $1,245. We continue trading within an upward corrective wave, and our main view is to stay neutral until a good sell opportunity arises near our bounce target of $1,270. Prices could have finished wave A of the upward correction and could be […]
Since September 16, the USD/CAD pair has been strongly bullish. This was started when obvious bullish rejection was expressed on testing of 1.0250. The intraday view remained negative until the USD/CAD pair breached 1.0660 Yesterday and early today trying to stabilize above it. Daily fixation above 1.0575 enabled the pair to reach 1.0660 then 1.0700, which prevented […]
The main theme of the European session was euro strength, despite some soft Euro zone inflation data today. The euro has made a big recovery since Monday’s 1-month low against the dollar and it rose to a 2-1/2-month high against the Swiss Franc today. The Eurozone headline inflation rate dipped to 0.8% in December from […]
AUD/USD Elliott Wave For the last few days the AUD/USD pair has been trading downwards, final wave (v) (coloured red) of the bigger wave 1 (coloured blue) has been developing. Yesterday’s descending movements from 0.8970 towards 0.8900 do not look impulsive, and that is why we are going with idea of the diagonal pattern in the wave i of […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around 1.6450, we are still waiting for larger movement. As you can see on the 1H chart, there is a buying climax, which is the first sign of bullish strength. Since our FE 161.8 % is held successfully, selling EUR/NZD looks very risky. […]
Overview: Since our last analysis, gold has been trading downwards, the price rejected from the level of 1,216.61 and tested the level of 1,247.89 on very high volume, as we expected. Price rejected from Fibonacci Retracement level 38.2 % at 1,223.00 (previous swing high). I placed Fibonacci levels to find potential upper station and I […]
Inflation in the Eurozone dipped in December, despite various measures taken by the European Central Bank to stimulate growth in the economy, raising some concerns about deflation in the region. According to data released by Eurostat, CPI fell to 0.8% in December from 0.9% in November. This headline inflation rate was in line with expectations […]
General overview for 07/01/2014 11:10 CET The corrective cycle indicated yesterday has been almost done as there is one more wave to the upside to be completed. There are two possible target yones for this wave c green of wave (c) blue: – first target zone is between 1.0683 – 1.0690 – second target zone […]
General overview for 07/01/2014 10:50 CET The alternate count for the five waves impulsive decline has been the correct one and now it is the main count. In this labeling the low of 141.49 is the low of the five waves impulsive decline and now the corrective cycle is developing. The most possible shape of […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Sterling declines after recording a two year high – 03 January 2014 Written by the easy-forex team Currencies The euro (EUR) continues to slid against the US dollar (USD) and looks that it found a strong support at 1.3635. The pair looks that lost its […]
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 […]
Cable has been bearish since falling from a 2-year high on a Jan 2nd. Sterling is experiencing a natural correction after a sharp rally against the dollar from November last year. GBPUSD has since retraced as far as 38.2% of the down leg from the January 2nd high to the Jan 6th low and is […]
