AUD/USD Elliott Wave At the beginning of this week the AUD/USD pair has been trading sideways, corrective wave (iv) (coloured red) of the bigger wave 1 (coloured green) has been developing. Yesterday’s upward movements from 0.8331 towards 0.8957 level may ondocate that the corrective wave (iv) as a flat pattern. In the 1-hour chart we can see that […]
The most noticeable move was made by the pound which gained against the dollar during a relatively quiet European session on the last day of the year. The dollar was broadly weaker especially against the yen but is on track to end the year with the best annual percentage gain versus the yen since 1979. […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1,194.68 on low volume and that is the reason why we saw the small upward correction and the testing of 1,206.13.We can observe that supply on high volume has entered the market at 1,206.00, so the […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards, the price reached level of 1.6736 (met FE 100 %) on volume above the average. As you can see from the chart, price rejected from level of 1.6990 and tested 1.6736 (bearish corrective phase in progress).I placed Fibonacci expansion levels to find potential […]
The benefit of hindsight is a wonderful thing as one can calmly look back and review what happened without fear or worry of being proven wrong. In addition, for traders, the review of past events and their influence on the market is of paramount importance. Sadly this is often neglected in favour of looking at […]
EUR/USD: On this pair, there is currently a pullback in an uptrend. This is something that can enable the bulls to get into the market at a relatively cheaper price. The price is not supposed to go below the support line of 1.3700. The eventual target is at the resistance line of 1.3900. USD/CHF: On […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Currencies mixed ahead of holiday season – 23 December 2013 Written by the easy-forex team Currencies The euro (EUR) has rebounded against the US dollar (USD) after touching 1.3636 on Friday. The single currency is currently at 1.3681 and may be looking at resistance at […]
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:Forex forecast 04/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin… April 9, 2024 We introduce you to the daily updated section of Forex…Video market update for April 09, 2024 April 9, 2024 Potential […]
Gold prices as expected by our analysis have not managed to move above the downward sloping channel resistance levels at $1,220 and reversed down. Prices have broken below the short-term pivot area of $1,205 and are now testing the first important support level at $1,1195. We continue to prefer the wave scenario shown in the […]
The Dollar index is still trading within price limits that do not show a clear trend path. So we neither prefer bullish or bearish setups. We are not bullish or bearish. We prefer to remain neutral as the price action in the Dollar index due to holiday season remains low and volatility is expected to […]
Today’s Support and Resistance levels: R3: 1.6924 R2: 1.6877 R1: 1.6807 Current Spot: 1.6789 S1: 1.6747 S2: 1.6674 S3: 1.6625 Technical summary: As we said yesterday a break below 1.6807 will force us to change our count slightly. A break below 1.6807 told us, that blue wave v of the expanding diagonal ended at 1.6996 […]
General overview for 31/12/2013 10:15 CET The corrective cycle in wave (iv) blue continues and currently looks like a triange formation is in progress. The most important level is strong support zone between the levels of 144.20-144.34. The breakout below exposes upper boundary of the GAP zone. Breakout above intraday resistance level at the 145.02 […]
Today’s Support and Resistance levels: R3: 145.69 R2: 145.17 R3: 144.95 Current Spot: 144.72 S1: 144.55 S2: 144.37 S3: 143.85 Technical summary: Our expectation of a rally to 145.19 worked well, as we saw a top just 2 pips below at 145.17. We will now be looking for a break below minor support at […]
General overview for 31/12/2013 10:00 CET The last bullish count has been invalidated due to wave (i) and wave (iv) overlapse, so alterate count is in play. In this scenario, the level of 1.0735 is the top of the bullish cycle and the top for wave 5 of wave C green. Currently, the first two […]
Gold has been on a steep downtrend in the second half of the year and is on track for the biggest annual loss in over 30 years. The precious metal is losing its safe haven quality and many do not see it as a store of value as they move to equities which have been […]
Markets head to 2014 with whimper Morning Report: 07.15 London • As we head to 2014, markets appear to be easing back early. Stock markets are unchanged and holding gains for late January. • Commodities are seeing the biggest movement, with silver down 0.46%, while gold is up 0.32%. • The Australasian pairs are performing […]
December 31st, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened slightly higher today, as markets struggled for direction amid thin trading volume, as investors braced themselves for the final countdown to the New Year. Markets in Germany were closed while those in London, Paris and Brussels will close around midday. […]
The Nikkei was closed today for a holiday in Japan, and there were no economic data releases, resulting in a quiet Asian session. The dollar eased against the yen after a disappointing report on US pending home sales during yesterday‘s US session. Despite a gain of 0.2% in November in pending home sales, the number […]
European markets have opened slightly higher today, as markets struggled for direction amid thin trading volume, as investors braced themselves for the final countdown to the New Year. Markets in Germany were closed while those in London, Paris and Brussels will close around midday. With no release of major domestic economic data during the day, […]
It is Bank Holiday in Japan today, and the US will release only the US-Consumer Confidence, so there is a big probability for the USD/JPY price today to move with low volatility. TODAY’s TECHNICAL LEVELS: Resistance. 3 : 105.45. Resistance. 2 : 105.25. Resistance. 1 : 105.04. Support. 1 : 104.79. Support. 2 […]
Overview: The USD/CAD pair is going to call for a sideways market on December 31, 2013 and the price will probably be trapped between the level of 1.0580 and the 1.0725 level in order to form a range of 145 pips this week. However, risk to reward ratios are important and should be calculated, then […]
Gold melted after US home sales data. A guage of pending home sales increased 0.2%, after a 1.2% drop in the month of October. Economists are expecting in 2014 housing industry will grow further. Gold dropped after the data released. It holds the support at the trend line (hourly charts) due to low volatility. Traders […]
Today, it is a Bank holiday in Germany and in the Euro zone there is no data to be released as it is the New Year’s Eve. Only the US will release the US-Consumer Confidence data, so there is a big probability for the EUR/USD price action today to move with low volatility. TODAY’s TECHNICAL […]
The weekly pivot point: 0.8890. Overview: The USD/CHF pair is probably going to form a strong support at the level of 0.8830 (00% of Fibonacci retracement levels in the H1 chart, it formed the last bearish wave for the last week and the 0.8883 level also acts as strong support). The saturation is likely to […]
Weekly chart: Today the USD/CHF pair continues to support the downward pressure that still seems to exist and may expect a further fall below 1/8 (line yellow) to the line 0/8 (blue line) which would be your last line of support in this time frame. The Relative Strength Index RSI is still on 38.70 points at […]
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 point. As far as the price is above its pivot point, a long position is recommended with the first target at 105.45 and the second target at 105.85 […]
Overview As shown on the today’s H4 chart, this week the pair has opened below the Resistance level 173.85 which means the pair will almost reverse its bullish move this week, it takes a downward move. Today the pair has already started its downward move after it had hit the Support level 173.00 and managed […]
Overview: GBP/JPY is trading with bullish bias. The pair stands above its support and remains on the upside. Daily chart is still positive-biased as MACD is bullish, stochastics stays elevated at overbought, five-day moving average is above 15-day MA and advancing. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in […]
Overview: NZD/USD is trading with bullish bias. The upward potential is likely to be limited by the resistance at 0.8215. Daily chart is positive-biased as MACD and Stochastic are bullish, RSI is well directed and pointing towards 70. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a higher […]
Overview Today’s H4 chart shows that the metal is trading between the support level of 19.55 and below the resistance level of 19.75. After its failure to break the resistance level 20.20 last week, silver bounced from it to take a slightly downward move below the resistance level of 19.75. Presently, we suggest waiting for closing […]
