Asian equity markets rallied on Friday following a strong performance by US markets overnight. Upbeat data on initial jobless claims on Thursday suggested that the overall US recovery seems to be on track, underpinning the Fed’s decision last week to begin tapering its bond purchase program. The number of Americans filing for unemployment benefits fell […]
Daily chart: The USDX has found strong resistance at the level of 80.62 and is now likely to last until the fall in the support level of 80.11. If the USDX manages to break that level, it would be expected to fall to the level of 79.19. Keep in mind that this could be the […]
Daily chart: The GBP/USD had a bullish start in the post-christmas session. Now, the pair attempt to break the resistance level of 1.6447. If successful, it is expected to rise to the level of 1.6540. On the other hand, we must consider that the current bullish trend could be temporary, as this pair has remained […]
EUR/USD today seems to move with low volatility during the European market session, because there is no data to be released today; but during the US session, it will move with low to medium volatility, because the US-Natural Gas Storage; and the US-Crude Oil Inventories are due to release. TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3784. […]
Today Japan will release Manufacturing PMI; Household Spending y/y; Tokyo Core CPI y/y; National Core CPI y/y; Unemployment Rate; Prelim Industrial Production m/m; Retail Sales y/y; Average Cash Earnings y/y. The US will release the US-Natural Gas Storage; US-Crude Oil Inventories; so the USD/JPY seems to move with low to medium volatility. TODAY’s TECHNICAL LEVELS: […]
Daily chart The monthly crude oil production in the U.S. in the next year will exceed the volume of imports for the first time since February 1995, according to estimates released today by the Energy Information Agency. Meanwhile, the black gold is closer to the psychological level of $100 per barrel, after the opening of […]
Crude is holding above the 21EMA level facing stiff resistance at the level of $100. Intraday downside support is at $99 mark. Last week, I gave a buy call for $103 target, now I am extending the targets. Trades above the level $100 mark, it could fly towards $102, $104 levels. Recommendation- Buy on dips […]
Santa rally continues on the stock market after the US jobless claims fell more than forecast. Jobless claims turned down by 42k, the number stood at 338,000, forecast numbers had been 346,000. The data shows extremely strong. Gold made high at $1,215.5 yesterday. The yellow metal came back to the level of $1,200 and surprisingly […]
Overview: As expected, the USD/CHF pair could not break the major resistance 1 at the 0.8990 level, therefore the pair has rebounded on its resistance 1 and should to resume to 0.8910 in order to test the 50% Fibonacci retracement levels because the market will indicates a bearish opportunity at the level of 0.8905 […]
Overview: The NZD/USD pair has set a support at the level of 0.8103 and a resistance at the 0.8375 level on December 27, 2013. accordingly to previous events, the price has still been trapped between the value of 78.6% Fibonacci retracement levels (0.8375) and the value of 50% Fibonacci retracement levels at the 0.8103 […]
European markets have opened higher today, taking cues from overnight gains on the Wall Street and a healthy performance by the Asian markets today. However, thin trading volume was witnessed in light of the post two-day Christmas break. Meanwhile, at a debt auction today, Italy aims to raise about €11 billion through the sale of […]
Daily chart The USD/CHF pair continues its uptrend after markets were motionless yesterday for the Christmas festivities in many parts of the world. At this time your nearest support is found in line 3/8 Murrey, when prices break it, it could lead to the 50.00 Fibonacci level. Moreover, also the blue line 4/8 Murrey trademark […]
General overview for 26/12/2013 15:40 CET The short lived range breakout has been fully retraced and price has got back into range zone again. Currently the outlook is still bullish according to main Elliott Wave count but please notice the growing clues for a possible top in place: the Head and Shoulders formation forming and […]
General overview for 26/12/2013 15:15 CET The upside gap has occurred when market had opened today with the pair going higher to 143.52 level in new 4-year high. The Elliott Wave labeling has been changed due to waves (i) and (ii) overlapse and new count is provided. The new labeling indicates a sooner than expecetd […]
Daily chart. After pausing for a day of Christmas festivities, markets began to move again. For Crude Oil continues to move higher above its daily pivot located at $ 99.00 a barrel and even comes retreating slightly since opening the CL we will continue to seek the resistance encountered at the point of the $ 100.00 […]
Gold is currently in an upward wave 4 bounce of the declining move that started at 1,269. We expect prices to continue lower towards 1,140-1,150. The current wave structure is shown in the chart below. Prices are trading within a downward sloping channel. The trend in all time frames remains downward. However, we should note […]
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. As expected, the bullish momentum was expressed at retesting of the lower limit […]
The Dollar index although has given us short term bullish signals, it still remains under the important resistance level of 81. Prices show low volatility as expected during the holiday season. Currently, the price pattern favors bulls, but prices still remain below important resistance levels. There is potential for prices to move higher as there […]
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 […]
Overview: Since our last analysis, Gold has been trading upwards, as we expected, the price tested the level of 1,205.00 on volume below the average. According to the 1H chart, Gold is in bullish corrective phase, so we placed Fibonacci expansion to find the levels for potential end of the bullish corrective phase. We got […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, like we expected, the price tested the level of 1.6773 on volume above the average. As you can see from the chart, we got selling climax (large volume)at price 1.6675 and after that we saw volume leveling off, which was good sign for […]
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: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 […]
Technical outlook and chart setups: 1. EURJPY has taken out 143.20 and subsequently out stop loss on short positions taken earlier. As depicted here, it is a sideways/triangle/consolidation breakout which has moved prices higher. It is recommended to initiate long positions upon a pullback towards 142.70/80 again. Until then remain flat. 2. The sideways trading […]
Technical outlook and chart setups: 1. The GBP/CHF has pulled back from recent swing lows of 1.4350/1.4400 to 1.4700/20 recently. Please note that it is at the 0.618 retracement of the entire downswing from 1.4950 to 1.4350/1.4400. It is recommended to remain short for now, risk remains at 1.4950. 2. The resistance is at 1.4950 […]
Technical outlook and chart setups: 1. Gold has been in a downtrend since making highs at $1,920.00 levels. and it looks to be in its last leg down towards possible $1,150.00/60.00 in near future. It is therefore recommended to remain short or keep selling on intraday rallies for now. The risk remains at $1,250.00/52.00 for […]
Today’s Support and Resistance levels: R3: 1.6869 R2: 1.6808 R1: 1.6766 Current Spot: 1.6761 S1: 1.6731 S2: 1.6681 S2: 1.6661 Technical summary: It finally seems as we are ready to challenge the upside for a test of resistance at 1.6869 to end the expanding diagonal. Once the target at 1.6869 is hit, we will look […]
Today’s Support and Resistance levels: R3: 143.92 R2: 143.57 R1: 143.46 Current spot: 143.38 S1: 143.00 S2: 142.46 S3: 141.86 – Important support. A break below here confirms the top. Technical summary: The target at 143.24 has been hit. An important top should be imminent. The first indication of the top being in place is […]
