FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – FOMC to set the pace for markets – 18 December 2013 Written by the easy-forex team Currencies The euro (EUR) rebounded back up to 1.3769 from 1.3723 yesterday against the dollar. Resistance for the single currency stands at 1.3780 and 1.3797. The US dollar (USD) […]
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:Weekly Forex Outlook: 12/04/2024 – More inflation data on… April 12, 2024 CPI numbers due in the UK and Japan. China to also…Video market update for April 11, 2024 April 11, 2024 […]
Technical outlook and chart setups: The setup and possibilities for silver remain similar to those for gold. Immediate resistance is at 20.50/60 levels, while immediate support is at 19.00 levels as for now. It is recommended to remain flat for now since there is an equal probability that the metal can follow both downtrend and […]
Technical outlook and chart setups: The metal is subdued, after it touched the highs around 1,267.00 level for now. It is recommended to remain flat for now since there is an equal probability that the metal can follow both downtrend and uptrend. As seen here, temporary resistance comes in at 1,267/70 levels; while support comes […]
(Click to enlarge) The S&P 500 made fresh all-time highs at the end of November, continuing the string of new highs it has been making since April of 2013, when it broke the old pre-crisis high of 2007, the 1576 level. Following the new highs just above 1811, a modest correction has followed, driving the […]
EUR/USD, GBP/USD. Our hopes for local superiority of the British pound on Tuesday dashed, the pace of inflation slowed down. The major indicator – Consumer Price Index – has not changed since October, 0.1%, vs. forecast for a 0.2% growth. On the annual basis it dropped from 2.2% to 2.1%. Retail price Index in November […]
Pound steady ahead of data deluge Morning Report: 08.45 London • This morning, markets have a slight upside edge as traders bet that the Fed won’t be doing anything about its asset purchase policy any time soon. • The yen pairs have been the big winners as the US dollar trumps the yen. • The GBP/JPY […]
Daily Chart It is expected today that the U.S. dollar will fall againsth the Swiss franc to hit the new minimum of 0.8832 dropping below its trendline. The medium-term view is uncertain, but when the price is below its trendline and below the line 1/8 (yellow line), it is possible that the Swiss franc will […]
General overview for 18/12/22013 08:45 CET The anticipated wave b purple has been done and market bounced from 1.0575 level as expected. Currently, the level of Supply has been almost hit and it is still possible that more upside progression will happen if correction gets more complex. The key area now is weekly pivot zone. […]
Technical Outlook and Chart Setups: The single currency pair may be finally unfolding a reversal pattern (Head and Shoulder); but prices should remain below 142.80/90 swing highs for confirmation. It is therefore recommended to hold on short positions taken at 142.20 levels earlier; the risk goes to 143.20. As depicted here, the resistance is fixed […]
Technical Outlook and Chart Setups: This pair is a “clear sell” on rallies setup as seen on the daily chart view here. We have been expecting a counter-trend rally which has unfortunately not materialized till now; furthermore, the prices have almost taken out support at 1.4350/1.44 levels. It is recommended to remain flat for now […]
The dollar index has not made much progress to the upside yesterday as all investors are waiting for the Fed’s announcement today regarding the tapering possibility of the QE program. Volatility is at its lowest and that’s why we expect volatility to rise tonight. Both short and long term trend remain down. Although we saw […]
Gold prices have tried to make an upward bounce, but the bulls were not strong enough to break above $1,250. Everyone is waiting for the FED as tonight we will have more information regarding the potential tapering of the QE program. We expect volatility to rise and prices to break important resistance or support levels. Current […]
USD/CAD Elliott Wave Since our analyses, the USD/CAD pair has been trading upwards. As we expected, impulsive wave i (coloured black) of the bigger wave (5) (coloured blue) has been developing. Yesterday, during the Asian session, we could observe a descending movement from 1.0595 towards 1.0575 level. Therefore, during the European and New York sessions, this commodity pair did […]
Today’s support and resistance levels: R3: 1.6869 R2: 1.6779 R1: 1.6718 Current Spot: 1.6691 S1: 1.6666 S2: 1.6603 S2: 1.6556 Technical summary: Nothing new here. We are still looking for the last rally higher towards 1.6869 to finish the leading diagonal. After correction lower from 1.6869 towards 1.6556, a new impulsive rally higher towards 1.7239 […]
Today’s support and resistance levels: R3: 142.35 R2: 142.21 R1: 141.95 Current spot: 141.82 S1: 141.80 S2: 141.43 S3: 140.98 Technical summary: Important support at 140.91 is still unbroken, which keeps the underlying uptrend intact. However, we have seen a break below the support line from 134.10 adding confidence in an important top being in […]
AUD/USD Elliott Wave For the last few days, the AUD/USD pair has been trading downwards, impulsive wave 5 (coloured blue) of the bigger wave 1 (coloured green) has been developing. Yesterday, during the Asian and European session we could observe descending 0.8957 towards the 0.8881 level and we can consider this as the end of the 1 […]
General overview for 18/12/2013 08:30 CET The corrective wave b purple has been finishead as anticipated and now last wave to the upside is developing. The possible levels to complete this wave are 142.11 and 142.35. Any breakout higher is bullish, but as long as the top @142.60 is not broken, the bias is to […]
EUR/USD: The EUR/USD remains a bull market is spite of the current equilibrium phase in the price. The indicators on the chart support the existence of the bulls’ domination, and it is very much likely that the resistance line of 1.3800 would be tested again and again until it is eventually overcome. USD/CHF: This currency […]
Daily chart As far as we can see, the crude oil found strength during the second trading day this week in the daily pivot. However, it is not far from the bottom of trading range as the line becomes 3/8 (green line) Murrey lines. Plus, between this line and the top of the trend […]
The dollar gained against the yen, recouping the losses of the previous US session during which the pair traded as low as 102.49. The dollar rose 0.27% to 102.94, having risen slightly above 103 yen previously. The euro also managed to gain against the yen, posting a gain of 0.33% to trade at 141.78. In […]
Daily chart: The USDX is forming a bearish pattern below the level of 80.11. During yesterday’s session, the USDX made no significant changes to indicate a change in the trend in the medium or long term, so the USDX remains strong in the bearish trend. If the USDX manages to break the 79.70 level, it […]
Daily chart: The pair fell to the support level of 1.6235, but this made a bullish rebound and now it is trying to climb to the resistance level of 1.6326. However, the GBP/USD could perform a breakout at the level of 1.6235 before falling to the level of 1.6146. Moreover, if this pair does break […]
After a long bull run of 13 years, gold peaked at 1,920 in 2011. Gold almost doubled from 2008 to 2011. At that time, the Fed bought debt bonds and kept the interest rates at 0% which boosted the economy. The demand rise in India and China increased the overall demand for gold. Keeping on […]
Today Japan will only release Trade Balance data. It is well-known that Japan has the highest deficit and BOJ will hold its rate. Moreover, the US tapering is a big issue in the market. Today our forecast for USD/JPY is that the pair will move with low volatility during the Asian and the European trading sessions, but […]
Since the beginning of the week, EUR/USD has moved in a range. The market is waiting for the U.S. FOMC desicion to be announced tonight. All the market participants concern about the tapering issue: when the Fed will start to scale back its $85 billion program. Today, we predict the EUR/USD price will move with […]
Overview: The EUR/USD pair’s support was broken and turned to resistance for a week. Therefore, the pair has already formed a strong resistance level at 1.3810. Moreover, it could not close above 100% Fibonacci retracement levels. The price has been placed below 100% Fibonacci on December 18, 2013. Additionally, the daily pivot point has […]
Daily pivot point: 1.6266. GBP/USD: Resistance: 1.6390 (sell below this level). Support: 1.6166 (buy above this level after a retest in the short term). Trading recommendations: According to the previous events, the price has been between the levels of 1.6305 and 1.6245 The descending movement will probably be lower than the 1.6387 level with […]
European markets have opened higher today, before the US Federal Reserve concludes its two-day policy meeting. However, traders also remained focussed on the German IFO survey, Bank of England’s December meeting minutes and the UK monthly unemployment figures due today to gauge the market direction. Closer home, speculation that the Bank of England (BoE) would […]
OvervieW: USD/JPY is consolidating as caution prevails ahead of Federal Reserve’s monetary policy decision on Wednesday. Odds had increased that the Federal Reserve might start winding down its monthly $85 billion bond-buying program this week after recent upbeat U.S. data, but many still expect the Fed to start tapering in the first quarter of […]
