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 […]
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 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April 18, 2024 We introduce you to the daily updated section of Forex…Video market update for April 18, 2024 April 18, 2024 Potential […]
Technical outlook and trade setups: The metal has breached 19.00 levels which was previous support and is expected to continue sliding further down towards 17.00 levels in the near term. It is hence recommended to sell intraday rallies from here on. The structure still […]
Yen drops further on stimulus speculation Morning Report: 08.30 London • Increased speculation over Japanese stimulus plans have helped the yen pairs push higher again this morning.The GBP/ JPY is showing particular strength on market talk of a forthcoming sovereign debt upgrade. The EUR/ GBP has continued its downwards trend as the good news keeps coming […]
Technical outlook and chart setups: The metal continues its slide downwards towards the swing lows at 1,180.00 levels as discussed yesterday. The structure reveals that high probability is towards printing fresh lows towards 1,130/50 levels at least before a possible reversal. It is recommended […]
Gold prices have broken the lower boundaries of the sideways consolidation we mentioned in yesterday’s analysis. The lower support boundaries were important if the upward bounce was to continue. We expected prices to make another upward bounce, but support failed to hold prices. Once support was broken, it was a matter of time to see […]
The Dollar index has risen as expected from the 80.40-50 support area and is trying to reach the upper resistance levels of the downward sloping channel. The short-term support is found at 80.70 and at 80.55. Short term resistance is found at 81.10-20. The Dollar index is forming a sideways triangle corrective pattern. The primary […]
Technical outlook and chart setups: The single currency pair continues printing higher highs for now. Trading well above 139.00 levels for now, a sustained push from here has got the potential to move towards 142.00 levels. It is recommended to refrain from trading; at […]
Yen drops further on stimulus speculation Morning Report: 08.30 London • Increased speculation over Japanese stimulus plans have helped the yen pairs push higher again this morning.The GBP/ JPY is showing particular strength on market talk of a forthcoming sovereign debt upgrade. The EUR/ GBP has continued its downwards trend as the good news keeps coming […]
Technical outlook and chart setups: The single currency pair has reacted sharply as expected, at the much anticipated 1.4900/20 levels. Please note that this area is the 0.618 retracement of the entire down swing between 1.54 and 1.4 levels. As depicted in the 4H […]
USD/CAD Elliott Wave Since our last analyses, the USD/CAD pair has continued trading upwards, impulsive wave .iii (coloured black) of the bigger wave c (coloured blue) has been developing.During the early Asian session we could observe descending movement from 1.0627 towards the 1.0612 level. Therfore, during the European and New York session this commodity pair […]
AUD/USD Elliott Wave Since our last analyses, the AUD/USD pair has been trading downwards, corrective wave c (coloured blue) of the bigger wave b (coloured red) has been developing. During the Monday’s Asian session we could observe ascending movement from 0.9105 towards the 0.9167 level and we can consider this move as the end of the b wave (coloured blue). Therefore, […]
December 3rd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened lower today, tracking losses on Wall Street and in Asian markets, as positive US economic data reignited speculation that the US Federal Reserve would start trimming its stimulus measures sooner than expected. Meanwhile, the British Retail Consortium reported that UK […]
General overview for 03/12/2013 07:10 CET Price has made another overnight high and it seems it is going to hit 140.00 round number level before any meaningfull reversal will happen. The targets from H4 time frame are slighty higher however. The Bearish Divergence is visible on H1 and H4 time frame and right now the […]
Overview: USD/JPY is to consolidate with bullish bias after hitting six-month high 103.13 Monday. Underpinned by positive dollar sentiment (ICE spot dollar index last 80.90 versus 80.64 early Monday) after U.S. ISM manufacturing PMI unexpectedly increased to 57.3 in November – the highest since April 2011 from 56.4 in October (defying forecast for drop to […]
The Australian dollar and the yen were the biggest losers against the US dollar in an otherwise quiet Asian session on Tuesday. In economic news, the Reserve Bank of Australia announced its policy decision with no surprises and left the benchmark interest rate unchanged at 2.5%. The Aussie fell 0.3% to end at 0.9075, erasing […]
Overview: GBP/JPY is expected to range-trade undermined by reduced investor risk appetite and Japan exporter sales. But GBP/JPY downside limited by weak yen sentiment and demand from Japan importers. Daily chart is still positive-biased as MACD is bullish; stochastics stays elevated at overbought, five-day moving average above 15-day MA and advancing. Trading recommendations: The […]
Overview: USD/CHF is expected to trade in higher range underpinned by positive dollar sentiment. But USD/CHF gains tempered by franc demand on buoyant CHF/JPY cross amid weak yen sentiment. Daily chart mixed as MACD bearish; but stochastics rising from oversold. Trading recommendations: The pair is trading above its pivot point. It is likely to trade […]
General Overview for 03/12/2013 07:00 CET The Bearish Divergence on H1 time frame is sending first warning signs that top could be near. After hitting the upper channel line price has retraced and now it is slowly going higher in somewhat corrective progression. There is a possibility that the level of 61%Fibo Ext. @ 1.0660 […]
