Overview: Since our last analysis, the EUR/NZD pair has been trading sideways, around the price of 1.6182. We are still waiting for the testing of the level of 1.6700. Since our major Fibonacci expansion 61.8% held, we may expect re-building of bullish strength. As you can see in the chart, we also got decreasing in […]
Overview: Since our last analysis, Gold has been trading downwards, like we expected. The price tested the level of 1,268.68 on high volume. We are still waiting for further bearish continuation. In the daily chart, we can observe supply bar on volume above the average, which means that Gold may start bearish continuation. We are […]
The dollar managed to post some gains during the European session. The market was digesting the sometimes conflicting signals sent by Federal Reserve policymakers. Fed President nominee Janet Yellen for example was quite dovish in her remarks during the previous week, whereas the previous day, New York Fed President William Dudley sounded relatively more upbeat […]
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:Video market update for April 11, 2024 April 11, 2024 Potential for the further rally on USD/JPYThe material has been…GBP/USD. April 11th. The US inflation report shocked the… April 11, 2024 […]
EURUSD: The slow and tardy bullish movement of the EURUSD has resulted in a clean bullish signal in the market. This is a result of the perpetual northward bias that has been resumed since the last week. The resistance line of 1.3600 could soon be breached to the upside – today or tomorrow. USDCHF: The […]
The Dollar index remains inside the downward sloping channel and in the support area where the downward correction could end. Today there is increased probability of an upward break. Short-term support is found at 80.50. Short-term resistance is found at 80.85-95. For the trend to change, prices will need to break above and out of […]
Gold has broken its short-term upward sloping trend line from 1,260, and although it reached the downward sloping trend line resistance at 1,293, it could not break above it. Rejection at the resistance levels was not good for long positions. Moreover, prices have taken a downward turn as the pressure from the resistance trend line […]
The first day of new week was flat. Current Account in the Eurozone in September was weaker than expected, 13.7 billion euros vs. forecast for 18.3 billion euros. Trade Balance was in line with the forecast 14.3 billion euros, nevertheless, the export grew 3% annually. The single currency was bought intentionally, which was not a […]
USD/CAD Elliott Wave Since our last analyses the USDCAD pair has continued trading downwards, corrective wave .iv (coloured black) of the bigger wave c (coloured blue) has been developing. Yesterday, during the Asian and European sessions, we could observe descending movements from 1.0440 towards the 1.0414 level. Therefore, during the early New York session, this commodity pair did not manage to hold […]
AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading upwards, just like we expected, impulsive wave iii (coloured blue) of the bigger wave [a] (coloured black) has been developing. During Monday’s Asian and European sessions, we could observe ascending movements from 0.9358 towards the 0.9417 level, and we can consider them as the end of the […]
(click to enlarge) Following the 1.3295 low on November 7th, the euro has been rallying and trying to reverse the sell-off that drove it all the way down from 1.3830 (October 25th). Currently the euro has been in an uptrend, making higher highs and higher lows since the November 7th low. This uptrend would be […]
Aussie charges higher despite hedge fund warning Morning Report: 08.45 London • This morning, the Australian dollar is leading markets higher as traders speculate on extensive market reforms to come from China. The Kiwi also performing well on the back of this move. • Stock markets don’t share this enthusiasm, with the S&P 500 futures […]
November 19th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. Stocks again this morning on the soft side as Asian markets tick lower overnight, adding some of the pressure. Overnight in the US, the Dow and S&P500 rose to fresh highs, above the 16,000 and 1800 levels respectively but settled lower. Worth noting that […]
General overview for 19/11/2013 07:35 CET: Corrective cycle wave iv has not been finished yet and there is a possible upside wave progression before the trend will resume to the downside to complete wave v of this cycle. The first level for wave iv is intraday Resistance grey rectangle zone at 1.0438 – 1.0441. If […]
The exhibition took place in Frankfurt, Germany over 15th and 16th November. The event was open to all traders and other interested parties. The XM team was on hand at our official booth, providing visitors with the opportunity to talk with the team in person and discover the numerous advantages of trading with XM. Throughout […]
General overview for 19/11/2013 07:25 CET A labeling has been a little bit changed just to indicated a possible longer wave W brown, so this upward wave development has been relabeled to (a)(b)(c) navy cycle. Nevertheless the oveall overview remains the same: more higher prices in view. Currently, the price is in corrective cycle wave […]
The dollar posted modest losses versus both the euro and the yen during Tuesday’s Asian session. A possible reason behind the dollar’s weakness was the market’s expectation that the Federal Reserve would keep pumping monetary stimulus at the same pace it has been doing during the past months. The yen managed to keep the dollar […]
During the European trading session, some news will be released. It is the German ZEW Economic Sentiment, and ZEW Economic Sentiment; and in the US market session there will be the US Employment Cost Index q/q released, which does not affect the market significantly. TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3574. Strong Resistance:1.3566. Original Resistance: 1.3553. […]
Today, no news from Japan is set to be released. At the US session, only one peice of news will be released. It is the US Employment Cost Index q/q and this news does not give significant impact. TODAY’s TECHNCIAL LEVELS: Resistance. 3 : 100.17. Resistance. 2 : 99.97. Resistance. 1 : 99.78. Support. 1 […]
Daily chart: The USDX fell through the support level of 80.62 and made a slight bullish rebound there. For now, it is likely that the USDX starts to forming a higher low pattern to continue falling below the 200-day moving average. If the USDX achieves in breaking the support at the 80.62 level, it would […]
Daily chart: GBPUSD had no significant changes during the yesterday’s session, and it is still trying to break the resistance level at 1.6146. If the pair manages to break that level, it is expected to rise to the level of 1.6235, which would strengthen the bullish trend. On the other hand, if this pair makes […]
European markets have opened lower today, in line with overnight losses in the US and today’s mixed performance in the Asian markets, as investors mulled over billionaire activist investor Carl Icahn’s downbeat comment regarding recent surge in the US equity market. Further, disappointing Chinese FDI data also dampened market sentiment. With no major domestic economic […]
Weekly technical levels: pivot point: 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 in the sideways markets, as the prices are most likely to be situated between the R1 and S1 lines. Within a strong trend, […]
Weekly technical levels: Intraday trading recommendations: EUR/USD: According to the previous events, the price has still been trapped between 1.3540 and 1.3460. The level of 1.3550 will indicate strong resistance; moreover, the price will form a double top at this level. Therefore, it will be wise to sell at 1.3450 with the first target […]
The US dollar traded little changed against the euro, as the single currency shed 0.07% to trade at 1.3499 – just under 1.35, a level which proved a focal point for today’s trading in the pair. The pound gave up a little ground versus the US dollar, dropping 0.06% to 1.6094. In Fed speeches, William […]
Four months ago, a prominent bottom was established around 1.0260. This happened after the pair found strong bearish pressure around 1.0555-1.0600, this was followed by intensive bearish momentum that led to 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 […]
The price zone of 1.3560-1.3600 represented a valuable supply zone that kept the price below for almost two months. However, lack of bearish follow-up was witnessed around 1.3480. Instead, a significant bullish rejection was expressed leading to a Flag continuation pattern. According to the final readings of the European Statistical Office one week ago, the […]
The previous bullish swing targeted 100% Fibonacci Expansion level. However, the bullish swing was strong enough to bypass this level, when the pair stepped above 1.6035 recording a daily high at 1.6262, which is 70 pips higher than 127.2% Fibonacci Expansion level. However, most of the bullish gains were lost resulting in an Inverted Hammer […]
Overview: USD/JPY is consolidating after hitting two-month high of 100.43 on Friday. The rate is supported by yen-funded carry trades amid positive risk sentiment (VIX fear gauge eased 1.46% to 12.19; S&P rose 0.42% Friday to record-high close of 1,798.18) on prospects for continued central-bank stimulus efforts as comments from Janet Yellen, President Obama’s nominee […]
Overview: USD/CHF is trading in lower range. The rate is undermined by soft dollar sentiment; franc demand on rising CHF/JPY cross. But USD/CHF downside is limited by franc sales on buoyant EUR/CHF cross. Daily chart is mixed as MACD is bullish, but stochastics is falling from overbought. Trading recommendation: The pair is trading below its […]
