USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has continued trading lower, impulsive wave .iii (coloured black) of the bigger wave i (coloured blue) has been developing. Yesterday, during the Asian and European sessions, we could observe an ascending movement from 1.0637 towards the 1.0668 level, and we can call this move as the end […]
AUD/USD Elliott Wave Last week, the AUD/USD pair was trading downwards, corrective wave c (coloured blue) of the bigger wave b (coloured black) was developing. During Monday’s Asian and European sessions, we could observe a descending movement from 0.9128 towards the 0.9069 level. Therefore, during the New York session, this major pair did not manage to hold around […]
EURUSD: This pair has moved upwards by over 46 pips this week, what could be called a slow and steady bullish move. The Bullish Confirmation Pattern in the chart is a testimony that the bias may continue, though there may be pullbacks along the way. The price may reach the resistance line of 1.3800. USDCHF: […]
Gold gains in pre Christmas lull Morning Report: 08.15 London • Markets have entered a pre-Christmas impasse with gold the only real mover of note so far. • The yen pairs have a slight negative bias as the US dollar index continues its down trend. • The pound is showing some strength this morning […]
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The euro managed to make fresh 5-week highs versus the dollar and 5-year highs versus the yen, on speculation that the ECB will not undertake any fresh stimulus measures for the Eurozone economy. ECB policymaker Yves Mersch stated that it would be problematic for the ECB to engage in asset purchases like the Fed or […]
Today’s Support and Resistance levels: R3: 1.6750 R2: 1.6688 R1: 1.6615 Current Spot: 1.6586 S1: 1.6550 S2: 1.6508 S2: 1.6470 Technical summary: We have seen the expected rally above minor resistance at 1.6556 indicating that green wave ii ended at 1.6470 and that green wave iii is developing. In the short term we would like […]
Since 2008 Gold has almost doubled in price fueled by safe investment amid QE. From the peak of 1,920 it almost corrected more than a half within 2 years. Currently, it is trading at a crucial junction levels. Gold prices remain weak for the remainder of the year as investors await more clear picture from […]
Today’s Support and Resistance levels: R3: 144.00 R2: 143.60 R1: 142.38 Current Spot: 142.07 S1: 141.76 S2: 141.53 S3: 140.99 Technical summary: We are in the final stages of the rally from the 131.20 low. That said, in the short term we are looking for support at 140.99 to protect the downside for a move […]
European markets have opened lower today, amid lingering uncertainty over how soon the US Federal Reserve would start to scale back its $85-billion-per-month stimulus programme. Meanwhile, investors also digested a raft of Japanese and Chinese data. Closer home, a survey by the RICS revealed that UK house prices hit a 14-year high in November. Later, […]
Daily chart: The USDX is breaking the support level at 80.11, so it is very likely that the USDX has extended its fall for the rest of the year to the support level of 79.19. However, we expect to see some patterns to begin to proceed the falls and relieve oversold bearish. On the other […]
After the European market opens, there will be a release of some news from eurozone like French Industrial Production m/m; Italian Industrial Production m/m; ECOFIN Meetings; and a few hours before the US market opens, the ECB President Draghi will speak. This event will be one of the most important moment to watch by the market […]
With only small impact news from Japan like BSI Manufacturing Index, Tertiary Industry Activity m/m, M2 Money Stock y/y, 30-y Bond Auction, Consumer Confidence, Prelim Machine Tool Orders y/y and from the US such as NFIB Small Business Index; JOLTS Job Openings; Wholesale Inventories m/m; it seems USD/JPY today will move with low to modearate volatility. […]
Overview Today’s H4 chart shows that the metal is trading between the Support level of 19.50 and below the Resistance level of 19.75 after its failure to break the Resistance level yesterday and bounced from it to take a slightly downward move and currently is re-testing the Support level of 19.50. Presently, we suggest waiting for […]
Overview Today’s H4 chart shows that the pair might take a new bullish signal after it opened above the 168.60 level at the beginning of the current week, as it was expected. Today, the pair took an upward movement and managed to reach the resistance level of 169.25 trying to break it through to […]
The week ahead will be a relatively quiet affair compared to the headline-grabbing ECB meeting and nonfarm payrolls of the previous week. It will be a very good opportunity for traders and investors to assess and digest recent data and the overall situation concerning economies and central bank moves. The main question hanging in the […]
The euro gained during today’s European trading, on optimism that there were positive signals for the global economy. The euro gained 0.18% against the dollar to trade at 1.3720, close to the day’s high of 1.3748 registered earlier during the Asian session. The euro was also up 0.20% against the yen at 141.40. Positive economic […]
Overview: Since our last analysis, Gold has been trading sideway, around the price of 1.228.0, we are still waiting for further downward movement. In the daily chart, we can observe no demand bar on volume above the average and rejection of the previous swing low at 1,252.00, which means that gold may continue bearish movement. […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways. Around the price of 1.6578, we are still waiting for further bullish […]
The event took place in Lagos, Nigeria over the 3rd and 4th December. Attendance was high and the XM team was happy to meet with traders in the region. One particular highlight was when XM was bestowed with not one but two awards for Best Execution and Fastest Growing Broker. In addition to meeting with […]
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 […]
(click to enlarge) Having traded through technical support around 1250 dollars an ounce 2 ½ weeks ago, gold remains in a downtrend and is looking to test the 1180 level, which is the 3-year low (since August 2010). The bearish downtrend for gold will remain in place until the 1360 level is breached. An intermediate […]
The Dollar index is heading towards the 61,8% Fibonacci retracement. Prices continue to trade downwards in a corrective overlapping pattern. We do not want to take action for now as we expect prices to resume their upward trend once the corrective phase is over. If you compare the upward move from 79 and the downward […]
Gold prices remain below the 1,245-58 resistance area. We prefer to remain neutral as there is no clear trend in the short term and prices are somewhat oversold in the daily level. Although the longer term trend remains down, we believe that there is increased probability of an upward bounce towards 1,300. Our elliottwave count […]
Technical outlook and chart setups: The metal has been locked in a trading range between 1,210 and 1,250 for the last several trading sessions. It is recommended to remain flat for now until a breakout is confirmed. The immediate resistance is 1,258/60 levels, followed by 1,300.00 and higher up, while 1,210 is immediate support, followed […]
General overview for 09/12/2013 09:45 CET The overall wave development looks rather bearish mainly due to higher cycle impulsive progression finished and now SUPPLY ZONE has capped any upside spikes. From the EWP point of view the larger cycles are done, but no new impulsive price development to the downside has been iniciated, so a […]
Technical outlook and chart setups: A weekly chart has been presented here for a larger view. As depicted and seen here, the former resistance levels were at 124/125 and 138/139 respectively and the price movements have clearly taken out both of them now. Furthermore, the rally from 94/95 levels to 140/141 levels for last several […]
Technical outlook and chart setups: The currency pair reversed sharply from the 1.4900 levels last week as expected and also took out the immediate support in the 1.4550/60 area as depicted here. It is quite possible that the pair rallies from here on towards the 1.4800 levels, before continuing to drift lower further. Resistance is […]
General overview for 09/12/2013 09:20 CET The Triple ZigZag count in intraday H1 time frame has been abandoned and the alternate count is in play now. Two counts were very similar, but now due to the shape of the wave progression, the better one seems to be a clear impulsive wave development count. In Daily […]
Yen slips but markets treading water Morning Report: 08.15 London • This morning, markets are generally waiting for further stimulus after digesting Friday’s Non Farm Payroll numbers. The early morning data has been mixed with Chinese PPI dropping again 1.4% and Australian ANZ job advertising dipping 0.8%. • The yen pairs are the biggest movers with the […]
