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 […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Gold entered into a bearish territory touching its five month low – 09 December 2013 Written by the easy-forex team Currencies The euro (EUR) made a rally gaining more than 200 pips during last week against the US dollar (USD), reaching its high at 1.372. […]
The euro remained strong during Asian session trading on Monday, as the single currency appeared to benefit even more than the US dollar from the much better-than-expected US employment report at the end of the previous week. The dollar managed to claw back some ground against the euro, pushing the single currency 0.12% lower at […]
Today’s Support and Resistance levels: R3: 143.60 R2: 142.38 R1: 141.74 Current Spot: 141.07 S1: 140.82 S2: 140.37 S3: 140.00 Technical summary: With the rally above 139.60, we knew that one more new high above 140.02 was needed. However, the rally we saw was much stronger than expected. Looking at the rally from the 131.20 […]
EURUSD: The EURUSD, which has been bullish for more than 2 weeks, has been able to maintain its bullish stance in spite of the initial upswings and downswings within the limitation of some overall stabilization. Last week was ended with some smooth and predictable movement upwards. This week would not be different. USDCHF: Last week, […]
Daily chart: GBPUSD is consolidating below resistance at the 1.6447 level, and it is very likely that this pair will extend its corrective movement to the support level of 1.6235. However, this pair is still very bullish, so it is not advisable to place orders against the trend for now. In addition, GBPUSD is still […]
China is one of the world’s largest producers of the yellow metal, but not a single bar leaves the country. It mainly relies on imports. October was China’s second highest month of gold, according to HK customs data. In 2011 and 2012 combined China imported more gold than in 2013. Year to date China’s gross […]
Today’s Support and Resistance levels: R3: 1.6688 R2: 1.6601 R1: 1.6556 Current Spot: 1.6521 S1: 1.6470 S2: 1.6454 S3: 1.6443 Technical summary: We did not expect an expanding flat correction to develop, but as long as important support at 1.6443 stays untouched, we will be looking for a break above 1.6556 and more importantly a […]
We predict USD/JPY today will move with slow to moderate volatility during the Asian and the US sessions, because not many significant impact news will be released. Japan today will only release some news like Current Account; Final GDP q/q; Bank Lending y/y; Final GDP Price Index y/y; Economy Watchers Sentiment. And during the US trading session […]
Daily chart: The USDX is extending its drop below resistance at the 80.62 level and is very likely to begin to form a higher low pattern below that level. If the USDX manages to break the support level of 80.11, it is expected to fall to the level of 79.19, which is very likely due […]
During the European session, some news like German Trade Balance; Sentix Investor Confidence; German Industrial Production m/m will be released; but at the US session no news will be released today, so we predict EUR/USD will move in slow to moderate volatility condition today. TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3775. Strong Resistance:1.3766. Original Resistance: 1.3753. […]
European markets have opened mostly higher today, as upbeat economic data out of the US and China boosted investor optimism about the global economy. Closer home, investors await a speech by Bank of England Governor, Mark Carney, due later in the day, to get additional clues on the UK central bank’s policy outlook. Related Posts:Behind […]
Monthly chart Early Friday, the Labor Department reported that the U.S. generated 203,000 jobs in November. Economists polled by MarketWatch forecast a net gain of 180,000 jobs. The unemployment rate fell to 7% from 7.3%. “The entire week was a good-quality crescendo of good news — all of it supportive to the week’s concluding […]
Weekly chart USD/CHF closed its fourth week on Friday falling far below an important support at 0.9033, to find your support at the eighth line of Murrey lines again. Although it is considered a weak support line and also taking into account that this line converges with its uptrend line can expect two possibilities. Most […]
Weekly pivot point: Trading recommendations: GBPUSD: According to the previous events, the price has still been trapped between 1.6360 and 1.6300. Long buying: Buy above 1.8280 with the first target at 1.6350 in order to form a double top, it might resume to 1.6430 to test the first resistance on December 9-13, 2013. Short selling: […]
Weekly technical levels: General overview of pivot points: R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well on the sideways markets as the prices are most likely to be located between the R1 and S1 lines. Within […]
Five months ago, a prominent bottom was established around 1.0260. This happened after the intensive bearish momentum that led to the monthly low at 1.0254. An important key level was located around 1.0505. This was the key level for the previous weeks movement as the re-closure below it enabled the pair to break down 1.0455 […]
Strong bullish sentiment was found at the support zone around 1.4830, which pushed the pair to hit 1.5700, where two prominent tops were established untill the bulls initiated another bullish impulse towards 1.6200 where other two prominent tops were established. It is worthy to mention, that the market initially expressed a bearish rejection around 1.6200 […]
Daily chart After the recent low was reached in 0.8943, the USD/CHF seems to try to find a new support below line 3/8 (green line) where it is at this stage that would occur in case the pair’s next support line at 2/8. However, for this scenario during today’s session, it would have to be […]
Overview As it was expected yesterday, the pair reversed its downward move taking an upward move to the Support level 166.25 after it’s failure to break it yesterday. Today and as shown in the H4 chart, the pair bounced from the Support area breaking the Resistance level 167.40 and currently is approaching the Resistance level […]
The price zone of 1.3400-1.3460 represented a valuable supply zone that kept the price below for months. However, a significant bullish support was present around 1.3100 leading to a bullish breakout pattern. According to readings of the European Statistical Office disclosed three weeks ago, the European inflation was at 1.1% in September, in line with […]
US nonfarm payrolls, unemployment The US November employment report, which was released today, again surprised on the upside just as October’s report did. Nonfarm payrolls grew by 203 thousand versus expectations of a gain of 180 thousand. October’s number was revised slightly lower to 200 thousand against 204 thousand initially reported. There were strong job […]
Daily chart On Thursday we have observed very little movement of Crude oil; it barely moved 1 pip from the opening to the closing of the day and just showed some slight movement during the day. Today, similarly, there is very low turnover and CL is facing resistance at the daily pivot which is located […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Non-Farm Payrolls may help push the dollar higher – 06 December 2013 Written by the easy-forex team Currencies The euro (EUR) moved higher after Mario Draghi’s conference and is now range bound around 1.3666 against the dollar. The euro may reverse yesterday’s gains should stronger […]
General overview for 06/12/2013 10:15 CET The downside wave progression has been invalidated and now it looks like price has completed abcde Triangle in wave alt:(4) purple and it will try to break higher and even test the top today. The Demand Breakthrough Zone has been almost invalidated and thats the further evidence for more upside to come. […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upward movement, just like we expected. The price tested level of 1.6714 on high volume. Since our FR 38.2 % held, the level of 1.6480 is possible end of bearish corrective phase. I’ve placed Fibonacci expansion levels to find potential upper station and i […]
Overview: Since our last analysis, Gold has been trading downward movement, the price tested the level of 1.228.00 on high volume. In the daily chart, we can observe supply 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. We are still […]
The euro was little changed against the dollar during the European session, rising by 0.04% to 1.3660. The euro made further progress versus the yen, rising by 0.11% to 139.66. In economic news, German industrial orders missed expectations by dropping sharply month-on-month during October, nearly reversing the previous month’s gain. Orders fell by 2.2%, against […]
