We enter very crucial week in terms of Economic events and reaching very close to the end of the year 2013. Market makers generated wave that Fed would start its tapering program at the coming December meeting. The latest positive factor – the budget deal makes USD come back to positive track. Both the parties […]
Today’s Support and Resistance levels: R3: 142.15 R2: 141.93 R1: 141.73 Current Spot: 141.46 S1: 141.20 S2: 141.91 S3: 140.79 Technical summary: With the break below 142.15 we had the first strong indication, that an important top is in place at 142.83. However, we still need a break below 140.91 to confirm, that the top […]
The Japanese yen managed to claw back some of its recent losses, as the market appeared hesitant to push the currency towards its recent lows after Friday’s retreat. The release of the Bank of Japan’s Tankan 4th quarter business confidence survey, showed sentiment rising to a 6-year high. Not only did big manufacturers’ and service […]
The Fed meeting’s fears are increasing day by day, now it comes very close. The recent job data make tapering waves around the globe. The recent budget deal makes it clear. The main concern is the job growth is sustainable. The job market data is the key factor for Fed’s upcoming decision. Unemployment rate stood […]
All attention of the market participants is now turned to the FOMC meeting scheduled this week, especially to the “tapering” issue, because the result will determine market participants’ sentiment in the future. While we are waiting for the FOMC meeting, we predict the market will move under ranging condition. Today after the European market opens, […]
During the FOMC meeting, the market participants will be cautious about opening positions, this issue will make the market move in a ranging situation before the FOMC meeting; Japan today will release some data like Tankan Manufacturing Index, Tankan Non-Manufacturing Index; and the US will only release some news such as US-Flash Manufacturing PMI, US-TIC Long-Term Purchases, […]
Weekly technical levels: Trading recommendations: EUR/USD: According to the previous events, the price has still been trapped between 1.3745 and 1.3703. Buy above 1.3630 with target at 1.3733, then 1.38. Below 1.3810, look for further downside with the first target of 1.3766, then 1.3686. Stop losses should be placed above 1.3840 (for short positions) […]
Weekly technical levels: Forecast: GBP/USD: According to the previous events, the price has still been trapped between 1.6340 and 1.6280. Buy above 1.6220 with the first target of 1.6340, it might resume to 1.6225 if the trend will be able to break the weekly pivot point at 1.6340. Pivot points general overview: R3 and […]
European markets have opened lower today, amid intensifying concerns that the US Federal Reserve could signal the start of a reduction in its stimulus programme at its policy-setting meeting this week. Adding to the negative sentiment, a preliminary private survey showed that Chinese manufacturing activity expanded at its slowest rate in three months in December. […]
Daily chart: GBPUSD has performed a breakout below the support level of 1.6326. Now, it is very likely that this pair fall to the level of 1.6235, due to the strengthening of the current bearish trend in this pair. However, this is expected to begin forming a bearish pattern with some corrective movements to continue […]
Weekly technical levels: Notes: Support: 0.8840 Resistance: 0.8950 New range: 110 pips. Pivot points general overview: R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well on the sideways markets, as the prices are most […]
Weekly technical levels: Note: R3 and S3 are a good indication of the maximum range for extremely volatile days, but can be exceeded occasionally. Pivot (PP) lines work well on sideways markets, as prices most likely range between the R1 and S1 line. In a strong trend, the price will be lower than a […]
Daily chart: The USDX is facing significant levels, as this closed last week with a very particular candlestick, denoting some hesitation among investors. For now, the USDX is forming a higher low pattern below the resistance at the 80.62 level. If the USDX manages to break the support level of 80.11, it is expected to […]
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 a few months. However, a significant bullish support was present around 1.3100 leading to a bullish breakout pattern. According to readings of the European Statistical Office disclosed three weeks ago, the European inflation was at 1.1% in September, in […]
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Source: Options Trading Strategy Related Posts:Analysis and trading tips for USD/JPY on April 8 April 8, 2024 Analysis of transactions and tips for trading USD/JPYThe test of…Analysis and trading tips for GBP/USD on April 8 April 8, 2024 Analysis of transactions and tips for trading GBP/USDThe test of…Analysis and trading tips for EUR/USD on April […]
Overview: NZD/USD is set to trade with bearish bias undermined by positive dollar sentiment, soft commodity prices, contagion from the weak Aussie. But NZD/USD losses tempered by the Kiwi demand on soft AUD/NZD cross, Kiwi demand on buoyant NZD/JPY cross amid weak yen sentiment, more-hawkish-than-expected Reserve bank of New Zealand’s Monetary Policy Statement as […]
Daily chart The USD/CHF pair showed a clear U-turn today from the line eighth (yellow line) at 0.8850 which we mentioned in our review of earlier days as an important support. Although the interest rates for the Swiss franc were unchanged, the comments during the SNB’s conference were positive on the overall and ended up […]
Daily chart Crude oil could not overcome the barrier created by the top line of the trend channel and even more during yesterday’s session and continued retreating below its daily pivot at this point to quote almost 100 pips below this level and being supported at the line 3/8 (green line) which comes to the […]
Overview: USD/JPY is trading with bullish bias after hitting a six-month high of 103.63 this morning. It is underpinned by positive dollar sentiment (ICE spot dollar index last 80.19 versus 79.88 early Thursday) on stronger-than-expected 0.7% increase in U.S. November retail sales (versus forecast +0.6%) and larger-than-expected 0.7% rise in U.S. October business inventories […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideway, around the price of 1.6671, 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 […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1,220.00 on volume above the average. We are still waiting for further downward movement. In the daily chart, we can observe supply bar on volume above the average. We are still likely to see it testing […]
Overview: GBP/JPY is trading with bearish bias. It is supported by weak yen sentiment; demand from Japan importers. But GBP/JPY gains are tempered by Japan exporter sales; positions adjustment before weekend. Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at overbought; the 5- & 15-day moving averages are advancing. Trading recommendation: […]
Overview: USD/CHF is trading in higher range. CHF sentiment is weaker after Swiss National Bank on Thursday kept its target range for the three-month CHF Libor unchanged at 0%-0.25% for a 10th straight quarter and reiterated its pledge to intervene in currency markets to prevent the Swiss franc from strengthening beyond 1.20 per euro, […]
The US dollar put in a strong performance during today’s European session, as traders bought the greenback on expectations that the Federal Reserve would taper its monthly bond purchases during its meeting next week. Stronger-than-expected retail sales for November, as well as other recent data such as the employment report for November previously, made the […]
Gold prices have made an upward bounce that reached the 38% retracement. This was most probably wave A of the correction. Wave B down reached 1,222 and we believe it is time for another wave up. We expect wave C to complete the upward correction near the red resistance trend line that comes from 1,360. […]
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, […]
The first signs of strength were shown yesterday in the Dollar Index. Prices have paused their decline at the price level we were talking about all this time. The 61.8% Fibonacci retracement has proven important support and as expected, prices have made a short-term trend reversal from that level. The downward sloping wedge was broken […]
Overview: EUR/USD is trading in a range. It is undermined by positive dollar sentiment; surprise 1.1% on-month drop in euro-zone October industrial production (defying forecast for +0.2% increase); European Central Bank President Draghi saying bank holdings of government bonds will be tested among other debt categories in the ECB’s planned stress test next year; Deutsche […]
