General overview for 04/12/2013 08:40 CET Last stages of impulsive wave progression that is lacking a momentum and most of the waves are overlaping itself is very characteristic for Ending Diagonal termination pattern. The Bearish Divergence is visible on H1 and H4 chars and that supports the main bearish view as well. Nevertheless, there is […]
EUR/USD: In the context of an uptrend on this pair, one would see an upswing followed by a downswing. Here, any downswing is an opportunity to buy at a better price, i.e. when things are on sale in the context of an uptrend. Right now, the price is edging towards the resistance line of 1.3600 […]
The Australian dollar was the biggest mover in the Asian session after it reacted negatively to GDP data that indicated the Australian economy expanded less than forecast in the third quarter. GDP grew 0.6% which was short of forecasts for 0.8%. The Aussie tumbled to a 3-month low against the US dollar and ended the […]
The pair rallied towards north from 97 to 103.40. The Bank of Japan helped to push yen 6 month’s low. Better than expected US economic data increased expectations of a near term tampering of the Fed’s purchasing program. The Japanese PM proceed with his April sales tax raise form 5% to 8% and a $51 […]
Daily chart: The GBP/USD is forming a bullish pattern below the resistance at 1.6447 level, but it seems that this pair will begin a phase of corrective movements. If the pair manages to break that level, it is expected to rise to the level of 1.6540, which would be something forceful to consolidate the bullish […]
Gold trading at $1,224 marginal up in Asia’s trading session. In yesterday’s trade it made 5 month’s low at $1,214.7. Tomorrow is a big day for gold, non-farm payroll data will be unveiled, which is the key data for the Fed’s decision. If the data printed healthy then the gold will further decline, currently it […]
Today’s Support and Resistance Levels: R3: 139.83 R2: 139.62 R1: 139.54 Current Spot: 139.36 S1: 139.18 S2: 138.93 S1: 138.69 Technical Summary: After some small stabs above the ideal target at 139.89 with a high at 140.02, we saw the expected decline and we also saw a short term break below important support at 138.97, […]
We predict the USD/JPY today will move in low volatility in the Asian session market but during the US session this pair will move in moderate volatility, because there is no news from Japan today, but during the US session there will be release of some news like US-ADP Non-Farm Employment Change, US-Trade Balance, US-ISM Non-Manufacturing […]
Today’s Support and Resistance Levels: R3: 1.6658 R2: 1.6636 R1: 1.6607 Current Spot: 1.6577 S1: 1.6560 S2: 1.6540 S3: 1.6520 Technical Summary: After a quick decline to just below the ideal target at 1.6446 (the low came in at 1.6443, just 3 small pips below the ideal target) we have seen an impulsive rally. This […]
Daily chart The USD / CHF scored again a fresh and this time even below the line 2/8 0.9020 reaching the minimum contribution for Saturday 3 December. In fact after this bearish session came what seemed less likely and as a result there was a widening of its uptrend channel time reaching its bottom line […]
When the European market open, there will be release of some news from Euro Zone like Revised GDP q/q, Retail Sales m/m, Final Services PMI, Italian Services PMI, Spanish Services PMI; and after the US market opens, there will be release of some news too like US-ADP Non-Farm Employment Change, US-Trade Balance, US-ISM Non-Manufacturing PMI, US-New Home […]
Daily chart: The USDX made a bearish rebound near the 80.90 level. However, USDX remains within the range between the levels of 81.50 and 80.62, so that the trend is not yet defined in the USDX. If the USDX manages to break the support level of 80.62 , it’s expected to fall to the level […]
European markets have opened higher today, rebounding from yesterday’s sharp losses following renewed US stimulus cut fears. Investors await the release of US economic data, later in the week, to get further clues about the timing of a reduction in the US Federal Reserve’s bond-buying programme. Closer home, the British Retail Consortium (BRC) reported that, […]
The US dollar traded lower versus most of its major counterparts on Tuesday due to a lack of tier one US economic data and caution by market participants ahead of big risk events like Friday’s nonfarm payrolls. The dollar eased lower against the yen on profit-taking from a month-long rally in the pair. The greenback […]
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 two weeks ago. Instead, a bullish rejection led to another bullish […]
The price zone of 1.3400-1.3460 represented a valuable supply zone that kept the price below for months. However, a significant bullish rejection was expressed around 1.3100 leading to a bullish breakout pattern. According to the final readings of the European Statistical Office disclosed two weeks ago, the European inflation was at 1.1% in September, in […]
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 of note, that the market initially expressed a bearish rejection around 1.6200 […]
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 […]
Overview From today’s H4 chart, yesterday’s closing below the resistance level 169.25 and the upper boundary of the bullish channel gave the price an opportunity for a bearish move. As shown here, the price is trying to continue its bearish move currently but it will hit the strong Support area of the Support level 167.40 with […]
Overview As it was expected last week, more bearish signals would be available after breaking the Support level 19.50 yesterday, then the metal continued its downward move after breaking the Support level, thus providing us with another good opportunity to sell till reaching the Support level 19.00 which is tested now. Currently and as shown […]
The US manufacturing sector grew in November, lifting the Institute of Supply Management (ISM) manufacturing index for a 6th straight month from the low of the year in May. The ISM survey showed that US manufacturing expansion quickened in November to 57.3 from 56.4 in October and beat a forecast of 55.2. This was the […]
The dollar gave up gains against most of its major counterparts in European session trading on Tuesday, reversing profits driven by Monday’s ISM manufacturing PMI data as well as encouraging construction data from the US. Monday’s strong ISM manufacturing report helped drive the dollar higher but market participants are being cautious and took profits ahead […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards. Just as we exptected, the price tested the level of 1.6480 (FR 38.2 %) on volume above the average. Potential levels for the end of the bearish correcrtive phase are 1.6480, 1.6427, 1.6351, 1.6270. Since our major Fibonacci expansion 61.8% was held, we […]
Overview: GBP/USD: The resistance has been already set at the level of 1.6460 (minor resistance) as well as the support has been set at 1.6294 (the weekly pivot point) for December 3, 2013. Therefore, according to the previous events, the price has still been trapped between 1.6440 and 1.6390, then it should be noted […]
Overview: Since our last analysis, Gold has been trading downward movement. Just as we expected, the price tested the level of 1,217.46 on high volume, we expect more bearish continuation. In the daily chart, we can observe supply on volume above the average and rejection of the previous swing low at 1,252.00, which means that […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Aussies keep rates unchanged at 2.5% – 03 December 2013 Written by the easy-forex team Currencies The euro (EUR) has plummeted over the past few days against the dollar, touching 1.3525 from 1.3619 on Friday. The euro may be tested this morning as Spanish unemployment […]
FTSE100 weakened during the morning as Miners mirrored steep falls in commodities prices on Monday. Gold fell to a 5 month low during trading on monday and although commodities prices are now broadly firmer miners are still out of favour with investors as many await risk events later in the week, the latest US jobs […]
Overview: Pair: USD/CHF. Pivot point: 1.9027 The price is probably going to form strong support at 0.8930 (below 11% of Fibonacci retracement levels in the H4 chart). It formed the last bearish wave for the last month, and the level of 0.9170 acts as strong resistance. Thus, it should be noted that the level […]
USDJPY remains strongly bullish in the long term. On the daily chart, the pair hit a new 6-month high of 103.36 yen today, with key resistance being the May 22, 2013 high of 103.72. A break above this key level gives scope for the next high that was in August 2008 at 110.66. A correction […]
EUR/USD: The market is in a kind of consolidation, though the bullish domination is still very clear. When the price does rally again, it would easily break the resistance line of 1.3600 to the upside, while it goes further upwards towards the resistance line of 1.3650. At this time, the Williams’ % Range is coming […]
