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 […]
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 […]
Source: Options Trading Strategy
The euro lost some ground against the dollar during today’s European trading, falling by 0.17% to trade at 1.3747. Eurozone inflation for November was announced in line with expectations at 0.9% year-on-year, slightly elevated from the 0.7% of the previous month. Month-on-month inflation dropped by 0.1%. Deflation is not a serious cause of concern for […]
Overview: Pair: USD/CHF. The price is probably going to form strong support at 0.8840 (below 00% of Fibonacci retracement levels in the weekly chart) as well as at this level, a double bottom will be formed. It formed the last bearish wave for the last month, and the level of 0.8935 acts as […]
Nothing much has changed since yesterday in Dollar index. In the short-term prices seem supported, but we do not see any major sign of strength. Trading above 80 is bullish, but bulls will also need to see an upward impulsive move unfold. ‘Taper’ talk will certainly bring volatility to the foreign exchange markets during the […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideway, around the price of 1.6633, we are still waiting for further bullish movement and the testing of 1.7000. Since our FR 38.2% has held, the level of 1.6480 is the possible end of the bearish corrective phase. I have placed Fibonacci expansion levels […]
General overview for 17/12/2013 09:45 CET The correction continues on this pair and a little bit more to the upside is expected here, however there is not much impulsive reaction now. Wave b green shape is rather hard to determine now and the target level would be either small wave (iv) area OR intraday Supply […]
General overview for 17/12/2013 09:30 CET The anticipated Head and Shoulder formation has been developed now; however, the slight upside wave development might be possible to finish wave c green of wave ii correction. The Key Level for intraday trading is 142.10 and if it gets broken, more upside is possible up to last high […]
Gold prices seem to remain with no clear direction and our two possible wave scenarios both remain valid. It looks like the market is waiting for the FED and what will be announced during December 17-18 regarding the possibility of tapering the QE program. From the Elliott wave perspective, wave structure will become clearer if […]
Overview: Since our last analysis, Gold has been trading sideways, around the price of 1,238.00, we are still waiting for further downward movement. Anyway, In the 4H chart, we can observe buying climax bar on ultra high volume which may be sign for and further bearish continuation. We are still likely to see it testing […]
EURUSD: Despite the failure to breach it recently, this pair is moving again towards the resistance line of 1.3800. The resistance line may be eventually challenged and possibly overcome to the upside, especially with the continuation of the dominant buying pressure in the market. USDCHF: Despite the failure to breach it recently, this pair is […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading sideways, corrective wave .b (coloured black) of the bigger wave y (coloured blue) has been developing. Yesterday, during the Asian and European sessions, we could observe descending movements from 1.0592 towards 1.0570 level. Therefore, during the New York session this commodity currency did not manage to hold this […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading sideways, corrective wave iv (coloured blue) of the bigger wave (v) (coloured red) has been developing. During the Monday’s Asian and European sessions, we could observe descending movements from 0.8968 towards 0.8926 level. Therefore, during the New York session this major currency did not manage to hold […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Manufacturing data to move the markets – 16 December 2013 Written by the easy-forex team Currencies The euro (EUR) has picked up speed from 1.3710 late last week up to 1.3758 on opening against the dollar. Look ahead for manufacturing data comes out from key […]
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:Why does the 10-year US yield remain so high? – Special… April 7, 2024 The 10-year US yield is a key determinant of FX…Weekly Forex Outlook: 05/04/2024 – ECB decision and […]
EUR/USD, GBP/USD. On Monday the euro added 34 points, the British pound grew 1 point. On the whole data on the Eurozone was negative for the single currency, indices PMI in France and Germany were lower than forecasts, and on the contrary figures of the Manufacturing PMI in the Eurozone surpassed the expectations (52.7 against […]
(click to enlarge) Following range-bound trading during November, light sweet oil for February 2014 delivery broke through the 95.60 level during a powerful upmove on December 3-4. The momentum from that move led to a 1 ½ month high at 98.74, where it found resistance. 98.74 is the target any rally continuation would like to […]
Will the Fed kick tapering into the long grass? Morning Report: 08.15 London • This morning, markets are mixed with a whiff of positivity following last night’s speculation that the US Federal reserve may defer any tapering decisions until 2014. The S&P 500 rose sharply last night from the lows, while the the dollar index has continued […]
December 17th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened lower today, as investors avoided taking strong bets ahead of a policy meeting at which the US Federal Reserve would decide the timing of possible reduction in its stimulus measures. Closer home, investors eye UK November inflation data, to gauge […]
Today’s Support and Resistance levels: R3: 142.83 R2: 142.42 R1: 142.12 Current Spot: 141.82 S1: 141.70 S2: 141.21 S3: 140.90 Technical summary: As we still have not seen a break below 140.91; therefore, it is still an open question whether we have an important top in place. As long as important support at 140.91 stays […]
Today’s Support and Resistance levels: R3: 1.6779 R2: 1.6718 R1: 1.6675 Current Spot: 1.6613 S1: 1.6581 S2: 1.6556 S3: 1.6516 Technical summary: We are still looking for the final rally towards 1.6869 to end the leading diagonal. Once it is finished, we should see a correction towards 1.6556, before a new powerful impulsive rally higher […]
The yen was mostly flat during today’s Asian session. The dollar was little changed against the Japanese currency at 102.98, while the euro gained slightly by 0.07% to trade at 141.82 yen. The euro was also slightly stronger against the dollar, up 0.08% to trade at 1.3771. The euro was helped by the previous day’s […]
Every market participant now worries about the next US FOMC meeting. Particularly, the matter of concern is whether the tapering off begins December 2013. However, most forecasts of tapering have been pushed to March 2014. Now the market moves slightly slow, especially today since there are no data releases scheduled for today from Japan. Only during […]
Yesterday EUR/USD is moving in a tight range, this is happening because of the issue of tapering QE at the nearest December meeting. 29 from 63 economists believe the tapering will start this month and the rest believe in March 2014. If the tapering starts now in December 2013, it will change the investment direction […]
Daily chart: The USDX continues its decline below the 80.11 level. We should note that the level of 79.84 is serving as a temporary support as the USDX formed a fractal there few days ago. If the USDX breaks out that level, it is likely to fall to the level of 79.19. Moreover, if the […]
A rise in the US economy brings the Fed December meeting into the limelight. Tomorrow’s Fed decision will make more clear future picture for financial markets and gold. The health of the US economy was indicated by the recent economic data such as the jobs market, which is the key factor, and the inflation rate […]
Exxon Mobil shows a good rally from the October low at 84.84. It has moved all the way to 98.8. Indicators are overbought slightly. It has broken up yearly trendline. I could expect Exxon to move much more higher to levels around 103. Monthly charts are showing bigger targets. Before an upward movement, it should […]
Daily chart: The GBP/USD has been forming a higher low pattern below the 1.6326 level. It seems that this pair is unlikley to continue falling, because it is finding support at current levels. If the GBP/USD pair takes a bullish rebound, it’s expected to rise to the level of 1.6447. Moreover, if this pair does break the […]
NZD/USD: Resistance: 0.8395 (sell below this level). Support: 0.8103 (buy above this level for retesting this level for a short period). Trend: sideways trend in the frame time of H4. Range: 76 pips (daily) and 280 (weekly). Weekly pivot point: 0.8247 […]
