Five months ago, a prominent bottom was established around 1.0260. This happened after the 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 enabled the pair to break down 1.0455 as well, where the […]
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 previous bullish swing targeted 127% Fibonacci Expansion level when the bulls stepped above 1.6035 recording a daily high at 1.6262, which is 70 pips higher than 127.2% Fibonacci Expansion level. On October 23, the GBP/USD pair broke initially the 1.6200 handle touching the area as of 1.6250. However, most of the bullish gains […]
Trading recommendations: According to the previous events, the price of the EUR/USD pair is still between the levels of 1.3530 and 1.3487. Moreover, it should be noted that the market was so stable and the trend was also very clear (upward). Similarly, the range was around 85 pips last week. Additionally, the value of 100% […]
Weekly Gchart Crude Oil prices continued to fall on Wednesday reaching a new low at 92.43. Prices fell rapidly following a comment by the President of New York Federal Reserve, William Dudley, who said he was “increasingly optimistic” about the prospects for the U.S. economic recovery. Prices also trembled after an increase in Saudi oil production […]
Weekly chart As we mentioned in our discussion earlier, the correction phase of USDCHF continues extending below 0.9155, currently, at 0.9110, well below the 3/8 (green line) and also under the centerline of its trend channel; and watching our chart looks like this will continue extending at least until 0.9033 where the historical support is […]
Overview: Since our last analysis, Gold has been trading downwards, like we expected. The price tested the level of 1,259.58 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 […]
Overview: GBP/USD: The resistance has been already set at the level of 1.6216 as well as the support has been set at 1.5940 for November 20, 2013. Therefore, according to the previous events, the price has still been trapped between 1.6170 and 1.6115, then it should be noted that the range today will be […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways, around the price of 1.6250. We are still waiting for the testing of the level of 1.6700. Since our major Fibonacci expansion 61.8% has held, we may expect re-building of bullish strength. As you can see in the chart, we also got decreasing […]
Overview In today’s H4 chart and as it was expected yesterday, we should wait for breaking the Resistance level of 161.40 before making the decision to continue the bullish move. Today and as shown in the H4 chart, the pair failed to break this Resistance level and yesterday it failed to break it as […]
The US dollar rebounded following weakness because of Fed Chairman Ben Bernanke’s speech last night. The euro lost 0.16% against the US dollar to trade at 1.3518. The dollar was down against the yen however, losing 0.14% and dropping slightly below the 100 yen mark to 99.95. In the main news item of the day, […]
On 14th and 15th November, the XM Team headed by Managing Director Ilias Mavromatis were present at the MENA 12th Forex Show at the Juimerah Beach Hotel in Dubai. The team were on hand to meet with prospective clients and partners from the region. Visitors to the XM booth had the opportunity to discuss the […]
USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading upwards, impulsive wave .v (coloured black) of the bigger wave c (coloured blue) has been developing. Yesterday, during the early Asian session we could observe descending movement from 1.0436 towards the 1.0415 level. Therfore, during the European and New York session this major currency […]
AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading downwards, corrective wave [b] (coloured black) of the bigger wave (A) (coloured green) has been developing. During Tuesday’s Asian and European sessions, we could observe strong ascending movement from 0.9351 towards the 0.9446 level and we can consider this move as the end of the […]
Overview As it was expected last week, more bearish signals would be available after breaking the Support level of 20.50, as shown in H4 chart, the metal continued its downward move after breaking the Support level, which gave us another good opportunity to sell till reaching the Support level of 20.20. Currently, and as shown, […]
Prices have remained pressured by sell orders and are continuing their downward slide. The pattern and form of the decline continues to be corrective. Prices continue to trade within the downward sloping channel. The trend is downward for the very short term as shown in the chart below. Short-term support is found at 80.50 and […]
General overview for 20/11/2013 08:40 CET The bottom of wave Y brown or alt:(b) has been established sooner then expected at 1.0413 and now the price has impulsivley bounced up to the upside. So far the bounce is in three (i,ii, iii) or two waves (i,ii, (i),(ii)) , so there is plenty of potential upside […]
General overview for 20/11/2013 08:00 CET The One-to-One target level indicated last week has been hit, so congrats to everyone who epened positions and held them for 350 pips. In Daily time frame, the first target level for CLASSICAL wave progression (principle of equallity) has been hit as well, so this is the first clue […]
Gold prices continue to trade below resistance levels. Short-term resistance is found at 1,279 and at 1,293. Short-term support is found at 1,268 and 1,263. Prices are trading in a downward slope and below trend line resistance. The trend remains downward in all time frames. We expect prices to break below short-term support and challenge […]
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 19, 2024 April 19, 2024 Potential for the further drop on NAS100The material has been…Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision… April 19, […]
EUR/USD, GBP/USD. Yesterday the major news turned out to be negative. ZEW Survey (Economic Sentiment) in the Eurozone in November was 60.2 vs. expectations for 63.1. OECD has slashed GDP forecast for the Eurozone in 2014 from 1.1% to 1.0%; the organization raised the forecast for Japan from 1.4% to 1.5%. After the news was […]
November 20th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. Soft start to the European trading session as the market awaits high profile US economic data and the Fed’s meeting minutes from the October policy meeting for more clues over the health of the world’s largest economy. Overnight, we had a mixed session in […]
(click to enlarge) Euro / yen is an important currency pair that is often used as a proxy for risk sentiment. Rising risk appetite tends to favor the euro, while risk aversion tends to favor the yen. In line with rising risk assets, the euro has posted gains during the past 10 or so trading […]
Aussie snap reversal on producer woes Morning Report: 08.45 London • This morning, the Australian dollar is falling back severely after the country’s largest oil & gas engineer posted poor financial result. The AUD/JPY is down 0.62%, with the AUD/USD off by 0.42%. • The yen is performing well, with the USD/JPY off by 0.22% […]
EURUSD: The bullish signal on EURUSD is still a valid thing. The targets for this week are the resistance lines of 1.3600 and 1.3700 respectively. Should the price break the resistance line of 1.3600 to the upside, close above it while the buying pressure is still intact, the price may go towards the resistance line […]
In the ongoing World Tour, the XM management visited Ho Chi Minh and Hanoi in Vietnam over a period of 11 days. This was ample to time for the XM management and local representatives to meet with partners and clients in the region to discuss their business needs on a face to face basis. Special […]
The US dollar remained weak during Asian trading, with the euro ending the session unchanged at 1.3540 against the greenback having traded as high as 1.3584 earlier. The euro crossed a key technical level around 1.3547, after Ben Bernanke’s speech echoed the dovish comments of his nominated successor Janet Yellen. Bernanke said that there was […]
European markets have opened lower today, despite dovish comments from US Federal Reserve Chairman Ben Bernanke that the US central bank would maintain its ultra-easy monetary policy for as long as needed. A key focus would be on the minutes from the US Federal Reserve’s October meeting to get additional hints on the timing of […]
Daily chart: The USDX continues to fall below the 200-day moving average, and now this is prepared to break the support at the 80.62 level. If successful, it is expected to fall to the level of 80.11, which would strengthen the current bearish trend in the USDX. On the other hand, the USDX is likely […]
Daily chart: This pair continues to move slow enough and now, GBPUSD is forming a lower high pattern. Recall that the pair formed a fractal a couple of days ago, so we should be alert to any change in the trend in this pair. If this pair does break the support at the level of […]
