Technical Outlook: EUR/USD is consolidating after hitting a six-week high of 1.3795 Tuesday. it is supported by negative USD sentiment; reduced expectations that the European Central Bank will ease monetary policy further–ECB President Mario Draghi said Tuesday that while inflation is expected to stay well below the ECB’s target of just under 2% “for a […]
Major currency pairs registered relatively minor changes during today’s Asian session. The euro was little changed versus the US dollar at 1.3762, having hit a high of 1.3795 during the previous day – not far from its two-year high of 1.3831 made six weeks ago. According to newswires, the euro was helped by end-of-year repatriation […]
After a good rally, gold halted near the resistance zone. Yesterday, the market was prevailed by bulls. We penned a positive divergence in charts, hence it came true. Thanks to all the bull bidders and to the indicators. For today’s trading session gold levels are following: NEAR TERM – 1 278 strong resistance. INTRA VIEW […]
European markets have opened mixed today, amid uncertainty over the US Federal Reserve’s tapering timeline. Meanwhile, US lawmakers reached a deal to reduce automatic spending cuts and provide $23 billion in deficit reduction spread over two years. With no release of major domestic economic data during the day, investors would keep a close eye on […]
Like USDMXN this pair is moving southwards at the start of December. After making a high at 1.2546 the pair corrected a bit up to 1.2447. Yesterday, the pair broke the trend line and managed to close above the trend line. Today’s trading pattern will determine the further price range of this counter. In Asia’s […]
USDMXN The third quarter helps Mexican economy to come out of its wounds. Currently, it shows a better-than-expected improvement led by recent Auto Sector numbers. The exports turn to double digit. The Mexican cars showed good export figures, but not in domestic sales. Rising exports pointed a strong recovery after a sharp slowdown. GDP grew […]
EUR/USD today will move with moderate volatility because during the European and the US market sessions, some news which has a good impact to the market will be released; at the European trades they will release the French Final Non-Farm Payrolls q/q; and the German Final CPI m/m. At the US market session they will […]
We predict the USD/JPY seems to be slightly slow in the Asian session, but it will move with moderate pace in the US trading session, this will happen because during the Asian trades, Japan will release some news with not a significant impact such as Core Machinery Orders m/m; CGPI y/y; but in the US […]
Overview: Pair: USD/CHF. Pivot point: 1.8990. Range: 65 pips – 80 pips. Trend: Bearish market. The price is probably going to form strong support at 0.8705 (below 61.8% of Fibonacci retracement levels in the weekly chart). It formed the last bearish wave for the last month, and the level of 0.9050 acts as strong […]
Weekly pivot point: 1.6360. Forecast: GBPUSD: According to previous events, the price has still been trapped between 1.6430 and 1.6480. Buy above 1.6425 with the first target of 1.6475, it might resume to 1.6525. Stop loss should be set below 1.6400, additionally the weekly resistance 1 is set at the level of 1.6420 […]
Overview As shown on today’s 4H chart, this week the pair has closed below the Resistance level of 170.00 and couldn’t break it 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 […]
Daily chart After falling slightly during the first session of the week, crude oil continued today its upward recovery above its bottom line as trading range becomes line 3/8 (green line). Although at this time it is found at the light resistance R-3 daily, we believe that even the next level is in line 4/8 […]
(click to enlarge) The news that UK industrial production was up 0.4% month-on-month was positive, since it beat consensus expectations of a rise of 0.3%. The annual rate of increase of output for UK industry was 3.2%. Except for 2010, UK industry has not really contributed to the country’s economic growth. The annual growth rate […]
Daily chart Looking at the daily chart of the USD / CHF can see that the greenback continued to exert pressure on the Swiss Franc, which so far in today’s session and made a new low at 0.8884 moving below the lower trend channel line bullish. However, since the line 2/8 (red line) has well […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways. Around the price of 1.6541, 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: AUD/USD: According to the previous events, the price has still been trapped between 0.9150 and 0.9110. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bearish signs. In other words, it will be a good sign to sell […]
Trading recommendations: NZD/USD: According to the previous events, the price has still been trapped between 0.8340 and 0.8290. Long buying: Buy above 0.82 with the first target of 0.8293, it might resume to 0.8366. Short selling: Outlook -1-: Swing trade at 0.8370 in order to sell with a traget of 0.8313. Outlook -2-: Below 0.8300 […]
Overview: Since our last analysis, Gold has been trading sideway, around the price of 1.246.0, we are still waiting for further downward movement. In the daily chart, we can observe no demand bar on volume below the average and rejection of the previous swing low at 1,252.00, which means that gold may continue bearish movement. […]
The euro was slightly higher versus the dollar, rising by 0.06% to 1.3753, not far from its 5-week high of 1.3765 recorded during the Asian session. The euro was benefiting from the ECB’s lack of specific planning for additional monetary stimulus. On the other hand, the yen made a comeback against both the dollar and […]
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:Is there a possibility of no Fed rate cuts this year? –… April 10, 2024 A summer rate cut by the Fed hangs in the…Forex forecast 04/10/2024: EUR/USD, NZD/USD, USD/CAD and […]
(click to enlarge) The Australian dollar has been in a downtrend against the US dollar for most of 2013, a year during which it is down 12.37% against the greenback. In its latest downturn, it dropped from around 0.9450 of November 20 to a low of 0.90 on December 4. It has since been trying […]
General overview for 10/12/2013 09:20 CET The wave c purple to the downside has developed as it should, and it looks like wave (2) purple correvtion is done. Now the price should start the impulsive wave progression to the upside in direction of the new highs and target zone. If there is no impulsive wave […]
Gold prices broke yesterday the downward sloping resistance trend line. Prices have most probably ended the downward move from 1,360 with a wave 5 failure (failed to produce new lows). Now our favorite scenario is that we should at least retrace the 38% of the decline from 1,360. So as long as prices trade above […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Sterling trades near its two year high – 10 December 2013 Written by the easy-forex team Currencies The euro (EUR) advanced even higher during yesterday’s session and touched its monthly high at 1.3767 against the US dollar (USD). The single currency is now trading around […]
The Dollar index continues to slide lower in an overlapping (corrective) pattern. Prices are now near the next important support level at the 61.8% Fibonacci retracement of the 79-81.50 impulsive move. The short-term trend remains downward. At the 61.8% Fibonacci retracement prices are expected to find support. This level is important as prices could reverse […]
Technical outlook and chart setups: The metal is attempting a possible pullback/recovery for now. Resistance begins from 20.50/21.00 levels (which was past support), followed by 22.00 (channel resistance line), 23.00 and 25.00; while support is at sub 18.00 levels, and lower. It is recommended to refrain from buying at current levels and remain flat. The […]
General overview for 10/12/2013 09:00 CET The level of 38% Fibo Ext indicated yesterday has been hit along with a round number of 142.00, a new 4-year high that has been hit as well. I have been expecting more complex correction in wave iv black, but it turned out that the market made only abc […]
Technical outlook and chart setups: The currency pair hits fresh highs in each session; the latest is the 142.00 region. As depicted in the daily chart, the fibonacci resistance is now at 142.80 levels, which could trigger a reversal setup. For now, it is recommended to refrain from buying and remain flat. Support levels are […]
Technical outlook and chart setups: The metal still remains locked in its trading range between 1,210.00 and 1,245/50. At the moment, it is testing the upper boundary (resistance) of the trading range. It is still recommended to remain flat for now. As seen here, major resistance levels are 1,350.00, followed by 1,440.00 and higher; while […]
Technical outlook and chart setups: The currency pair is off the lows around the 1.4550 levels, and it is trading comfortably above 1.46 at the moment. It is recommended to remain long with positions taken yesterday. Lined up support levels are 1.4350, followed by 1.4200 and lower; while resistance levels are from 1.4780/1.4800 levels, followed […]
