Today’s Support and Resistance Levels: R3: 1.6818 R2: 1.6790 R1: 1.6765 Current Spot: 1.6733 S1: 1.6683 S2: 1.6621 S3: 1.6569 Technical Summary: We are currently at strong support near 1.6683 and a break below here will indicate continuation towards the 1.6569 area. However, if this support protects the downside from a break above 1.6807, the […]
The first trading day of the New Year began relatively quietly with some mixed reaction to some disappointing manufacturing data from China yesterday. The official headline PMI fell more-than-forecast in December to 51.0 from 51.4, month-over-month, versus an expected 51.2. Meanwhile a private PMI report from HSBC gave a figure in line with expectations at […]
Today’s Support and Resistance Levels: R3: 145.32 R2: 145.17 R1: 145.01 Current Spot: 144.84 S1: 144.60 S2: 144.37 S3: 144.06 Technical Summary: We are still looking for evidence that wave v of 5 is in place at 145.69. The first real evidence will be a powerful break below 144.37, but only a break below 140.91 […]
EUR/USD: The first thing expected on this pair is the price to break the resistance line of 1.3800 to the upside, before going further upwards. The EMA 11 is above the EMA 56 and the position of the Williams’ % Range is in support of the bullish effort. In addition, there is a support to […]
The AUD/USD (Daily Charts) is still under the bearish pressure. This is already indicated by the SMA 20 (Bollinger Bands Middle Line), it is moving bellow the Exponential Moving Average 50 periods. However, the RSI (14) is forming a Double Bottom pattern, and the price is still in the demand area. This condition indicated that […]
At the daily charts, the GBP/USD is moving in a sideways direction, however the Stochastic Oscillators have already indicated that this currency gets the downside pressure. If we look at the Moving Average periods 3×3, which we projected for three days ahead, they indicated the slope that want to be flat. So even for now […]
Technical Outlook and Chart Setups: 1. The single currency pair is trading sideways as seen on shorter timeframes, (4H specifically). As seen on the daily chart depicted here, a push above the 145.00/50 level will still open doors for 147.00 on the higher side. Recommendations are to remain flat for now and await for a […]
Technical Outlook and Chart Setups: 1. The GBP/CHF has exceeded the pullback/retracement towards the 1.4800 level, as depicted here. This is also the 0.786 retracement/resistance of the downswing from 1.4900 to 1.4350 recently. It is recommended to remain short with risk above 1.4900. 2. Major resistance is fixed at the 1.4900 level, while supports are […]
GBP/USD: tight sideway range on January 2, 2013. Overview: Due to the upcoming Christmas and New Year’s holidays, the trading working hours of many major financial centers was changed, which affected the trading of the GBP/USD pair notably, because the market was not stable and the trend was not clear. Consequently, the market will probably […]
Daily pivot point: 1.3781 Trading recommendations: According to previous events, the EUR/USD pair has still been trapped between the level of 1.3860 and the 1.3687 level (those levels coincided with the fibonacci retracement levels 88.2% and 23.6 respectively). It should be noted that the 1.3884 price (around double top at the level of 1.3892) will act as […]
European markets have opened slightly higher today, as investors awaited in anticipation the release of manufacturing PMI data from the Eurozone and several European countries, due later in the day. However, a disappointing reading of China’s manufacturing activity indices kept the gains in check. Closer home, investors eyed UK manufacturing PMI, which is widely expected […]
January 24, 2014 – Forex News Hot asset for today: GBP/USD On Thursday the EUR/USD the left its sideways move and climb up to 1.3700. The pair added about 180 pips during the European and American session spurred by great French, German and EU Manufacturing PMI and by EU Current Account. The movement up continued […]
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 […]
Daily chart: The USDX is set to fall and now is trying to make a breakout in the support level of 80.11. If successful, it is expected to extend its fall to the support level of 79.19, but we must be careful when placing sell orders, as the USDX formed fractals near the level of […]
Daily chart: This pair continues to make consolidation moves below the resistance level of 1.6540. Now, it is expected to form the bullish pattern to continue strengthening the current bullish trend. However, if the pair manages to break the support level of 1.6447, it’s expected to fall to the level of 1.6326, which would be […]
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 […]
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 […]
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 […]
Readings of the European Statistical Office disclosed three weeks ago showed that the European inflation was 1.1% in September, in line with preliminary projections, while it settled at 1.3% in August. This constituted to the recent bullish jump that took place on October 22. Around 1.3800, previous daily candlesticks represented indecision initiating a bearish retracement […]
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: GBP/JPY is trading with bullish bias. The pair remains on the upside and is challenging its resistance. 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 […]
Overview: NZD/USD is to trade in higher range. Technically, the RSI is above its neutral area at 50. 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 […]
Overview: USD/CHF is expected to trade in higher range. The pair remains on the upside as the RSI is well directed. Trading recommendation: 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 […]
Daily Chart Crude oil has been falling for a second day. During yesterday’s session it was very close to its upper trend line which started to decline, falling below the line 8/8 and below its daily pivot located at 99.60. However, today crude may demonstarte its fourth annual rise in five years. It is expected […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading downwards, we have slightly adjusted our wave count to fit the current market price. In the 1-hour chart above you can see that we are tracking the descending movement from 1.0725 towards 1.0630 as flat correction in the x wave (coloured blue). Today, the USD/CAD […]
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 […]
