In Japan today there is no significant news to be released, but in the US market there will be released some news such as the US Empire State Manufacturing Index; Import Prices m/m; Capacity Utilization Rate; Industrial Production m/m; and Wholesale Inventories m/m; and all this news from the US has a moderate impact, so there is […]
Daily chart: The USDX made a bullish rebound near support at the 80.62 level. However, this could be the formation of a higher low pattern to continue falling. On the other hand, if the USDX manages to break the resistance at 81.20 level, it would be expected to rise to the level of 81.50. However, […]
Daily chart: GBPUSD did not make significant changes in the daily chart. Now, the pair continues forming a lower high pattern above the support level of 1.6046. If this pair does break the support level, it is expected to drop to the level of 1.5883, deep enough considering that GBPUSD is very solid in the […]
Overview: GPB/USD: According to previous events, the price has still been trapped between 1.6120 and 1.6060; thus, it is reasonable to be careful with action around this area. Therefore, the first step is waiting for a period of tight sideway range market before breakouts. So, the market will probably start showing the signs […]
Overview: It should be noted that the price of the USD/CHF pair has still been trapped between 0.9133 and 0.9195, as well as the price has been set below strong resistance at the levels of 0.9230 (50% of Fibonacci retracement levels in H4 chart). Additionally, it is worth noting that these levels coincide between […]
European markets have opened mostly higher today, tracking overnight gains on the Wall Street and Asia, as US Federal Reserve Chair nominee, Janet Yellen’s testimony before the Senate Banking Committee boosted investors’ optimism that the US central bank might continue with its accommodative easing policy. With no release of major domestic economic data during the […]
All eyes were on Janet Yellen today, as she took the stand in front of the US Senate Committee for her confirmation hearing on her nomination for the Federal Reserve President’s post. The US dollar weakened as Yellen signaled that she is supportive of the Fed’s current stimulus measures and is willing to continue with […]
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 […]
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 […]
Strong bullish sentiment was found at the support zone around 1.4830, which pushed the pair to the upside reaching 1.5400, then 1.5700, where two prominent tops were established. Bullish pressure was applied off 1.5430-1.5400 which managed to break through 1.5720, thus matching the August highest level and the recently established top. The market expressed obvious closure […]
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 […]
Overview: USD/JPY is trading in higher range. USD/JPY is supported by reduced safe-haven appeal of yen and yen-funded carry trades amid positive global risk sentiment (VIX fear gauge eased 2.57% to 12.49; S&P rose 0.81% overnight to close at record high 1,782.00) on speculation that comments to be made by Janet Yellen–seen as a proponent […]
Overview: NZD/USD is trading in lower range. the rate is supported by weaker dollar sentiment; Kiwi demand on NZD/JPY cross amid positive risk sentiment; Kiwi demand on soft AUD/NZD cross; 1.5-point rise in BNZ Capital-BusinessNZ index for New Zealand’s manufacturing activity to 55.7 in October. But Kiwi sentiment dented by weaker-than-expected New Zealand third quarter […]
OvervieW: GBP/JPY is trading in higher range. The rate is supported by positive investor risk sentiment; demand from Japan importers. But GBP/JPY gains are tempered are by Japan exporter sales. Daily chart is mixed as stochastics is rising from oversold, but MACD is still bearish. Trading recommendations: The pair is trading above its pivot point. […]
Overview: USD/CHF is trading with bullish bias. The rate is undermined by weaker dollar sentiment; franc demand on buoyant CHF/JPY cross. Data focus: 08:15 GMT Switzerland October PPI, import price index. Daily chart is mixed as MACD is bullish, but stochastics is falling from overbought. Trading recommendations: The pair is trading above its pivot point. […]
Daily chart Despite having closed below line 3/8 (green line), which seemed to indicate that the correction could last a little longer and maybe even quickly, so far during today’s session the U.S. dollar is recovering its losses to place the pair back above the bottom line of its trading range and therefore converted back […]
Daily chart Crude Oil failed to overcome the limit of 93.75 where the line 2/8 (red line) of Murrey lines were lying during yesterday’s session. Although at some point, the price was above that level, yet prevailed sales force to finally close below that level. For the next hour it is scheduled to publish weekly […]
(click to enlarge) The announcement of growth of 0.1% for the Eurozone during Q3 marked the 2nd consecutive quarter of growth following 6 straight quarters during which the single currency area’s economy was contracting (Q4 2011 – Q1 2013). During the previous quarter, the Eurozone grew by 0.3% The quarterly growth rate was less than […]
Overview: The EURUSD pair’s support was broken and it was turned to resistance for ten days. Therefore, the pair has already formed a strong resistance at 1.3525. Moreover, after it could not close above 61.8% Fibonacci retracements levels and start signing for bearish market, and the price has placed below 78.6% Fibonacci since two […]
Overview : Since our last analysis, the EUR/NZD pair has been trading sideways, around the price of 1.6300, 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 high […]
Trading recommendations: NZD/USD: According to the previous events, the price has still been trapped between 0.8260 and 0.8225. Long buying: Buy above 0.8195 with the first target at 0.8230, it might resume to 0.8260. (short term) Short selling: Outlook -1-: Swing trade at 0.8270 in order to sell with a traget of 0.8220. […]
Overview: Since our last analysis, Gold has been trading sideways, around the price of 1,281.00; the price tested the level of 1,261.22 on average volume according to the Daily chart. In the daily chart, we can observe demand bar on the average volume, which means that Gold may start small bullish corrective phase before any […]
The European session saw a lot of activity today, with large moves in major currencies as a result of news flows and economic data. The euro fell against the dollar after being weighed by disappointing third quarter GDP data from France, as well as reports of slower growth in the Eurozone as a whole. The […]
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:Forex forecast 04/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin… April 9, 2024 We introduce you to the daily updated section of Forex…Video market update for April 09, 2024 April 9, 2024 Potential […]
General overview for 14/11/2013 09:30 CET The main count has been invalidated and now the alternate count is in play. This count indicates that wave X brown top is in place at 1.0506 and now some continuation to the downside should develop. Wave a green is in place already and it had bottomed at 1.0438. […]
General overview for 14/11/2013 09:00 CET On November 8, I pointed out that the main focus is whether Ending Diagonal wave 5 was done or not and if the price manages to break out back to the channel, then a new high can not be outruled. What is going on right now looks like this […]
Althought the Dollar index has broken the upward sloping trend line that started at 79, prices have found support at the previous resistance level at the 80.60-75 area. The support area is shown with green colours in the chart. Resistance is still the 81.50 area where a triple top was formed. The decline to 81.50 […]
AUDUSD is contained below the 200-day moving average and above the 100-day moving average as seen on the daily chart. After advancing from the end of August low of 0.8891 to the October 23 high of 0.9756, the AUDUSD has retraced 50% of this move and is hovering just below the 50% Fibonacci retracement level […]
November 14th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. Pro-stimulus prepared remarks by Fed head nominee Janet Yellen sparked a rally on Wall Street overnight, helping lift Asian share markets which were further supported by Japan’s Q3 GDP reading showing the economy expanded at an annual pace of 1.9% during the period, ahead […]
AUD/USD Elliott Wave Since our last analyses, the AUDUSD pair has been trading upwards, just like we expected, impulsive wave i (coloured blue)of the bigger wave [a] (coloured black) has been developing. Yesterday, during the early Asian session, we could observe a descending movement from 0.9309 towards the 0.9278 level, Therefore, during the European and Asian […]
