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 […]
Daily chart For two consecutive days the pair tried to breach 0.9277, where the line 4/8 (blue line) Murrey Lines is located, but failed. USD/CHF has been falling again and is very close to its support located at 0.9155 where probably it will resume its upward path. So we think this is a good time […]
(click to enlarge) The pound made a 2-month low against the dollar today on the release of lower-than-expected inflation data for October. Specifically, the Consumer Price Index for October posted a monthly increase of only 0.1% compared to expectations of a rise of 0.4%. The annual rate of increase was 2.2% against an expected increase […]
Overview: It should be noted that the price of the USD/CHF pair has still been trapped between 0.9143 and 0.9185, 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 […]
Trading recommendations: NZD/USD: According to the previous events, the price has still been trapped between 0.8200 and 0.8255. Buying: Buy above 0.8195 with the first target of 0.8260, it might resume to 0.83. Selling: Swing trade at 0.8303 in order to sell with a traget of 0.8270 then it will continue towards 0.8200, if […]
Overview: Since our last analysis, Gold has been trading downwards, like we expected; the price tested the level of 1,276.12 on high volume according to the (H4) chart. In the daily chart, we can observe supply bar on the volume below the average, which means that there is an chance for Gold to start small […]
Overview Since our last analysis, the EUR/NZD pair has been trading upwards, like we expected. The price tested of 1.6271 on average volume. 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 effort for the downward movements with no […]
Sterling was the biggest mover during the European session after weakening on softer UK inflation data. CPI (consumer price inflation) was sub-forecast at 2.2% annually versus analysts’ expectations for a 2.5% rise. The lower inflation rate is closer to the Bank of England’s 2% target and thus lessens the chance of a rate hike until […]
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 08, 2024 April 8, 2024 Potential for the breakout on the USD/JPY…. The material has…Market Comment – Stocks climb after sizzling US jobs report April 8, […]
Yesterday due to holidays in France, Canada and the US, the market volatility was low. The euro was growing in terms of technical correction and followed the stock market indices; the British pound dropped, probably, waiting for data on inflation, which is published today at 13:30 UTC+4 and the inflation is expected to drop. PPI […]
Yen retreats on low confidence Morning Report: 08.45 London • This morning, the Japanese yen is on the back foot after consumer confidence came in well below estimates. • The euro is continuing to outperform its peers, with the EUR/ JPY up 0.42%. • The Aussie and Kiwi are continuing their poor run, with the AUD/ USD […]
The Dollar index remains supported by bullish trend and the prices are expected to continue higher to new higher highs. Trend remains up, our view remains bullish and the prices are expected to test 81.50 and break above it towards 82. The dollar index remains bullish as long as the prices trade above the blue […]
Gold is sliding downwards towards 1,280-70 and is reaching important support levels that could change the intermediate and long-term trend. The prices are moving downwards in an impulsive pattern and the decline has retraced more than the 76.4% of the 1,250-1,360 rise. This is not a bullish sign. However, confirmation of the bearish scenario will […]
Daily chart During the first week’s day Crude Oil, as the major currency pairs, maintained with very slow movements of just over 50 pips. Its next support at 93.75 remains intact since it is the line 2/8 (red line) Murrey line. According to Murrey lines 2/8 and 6/8 are reverse strengths, therefore taking into […]
November 12th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. Stocks are softer this morning despite the firmer session on Wall Street overnight with the DJIA hitting another record close. US economic fundamentals appear better placed, helping equities and the US dollar but speculation that we are in for tapering next month is mounting, […]
EURUSD: There is still a Bearish Confirmation Pattern on the EURUSD pair, and the price is trading below the resistance line of 1.3400. Ultimately, and despite the current turbulent cum volatility in the market, the price would end up testing the support line of 1.3300 today or tomorrow. USDCHF: This is a bull market. Since […]
On the Daily chart, GBPUSD has been rallying since July 9 until peaking on October 1 and has since been consolidating. The pair has been capped below 1.6259 and supported above 1.5893. The pair has been back under pressure and is trading in the lower range after falling during the past three days. Today’s UK […]
General overview for 12/11/2013 06:40 CET The target level mentioned in yesterday’s analysis has been hit and now we have a first clue that the Triple ZigZag correction might be done here on 50% Fibo of a larger swing and 88.6% Fibo of a lower swing. But we cannot be sure whether the correction is […]
General overview for 12/11/2013 07:00 CET The corrective cycle starts to turn itself into more complex one and so far it looks like a possible triangle formation here. However, I am not ruling out the possibility of abc green correction in form of a Running Flat. The Main Count Invalidation Line is at 1.0461 […]
Today data on German Final CPI m/m will be released; and there will be no news for the US market. So we expect the price action from the EUR/USD pair will be moving in a moderate volatility. Please pay attention to your open positions today. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3471. Strong Resistance: […]
USD/CAD Elliott Wave Last week the USDCAD pair has been trading upwards, impulsive wave (.i) (coloured blue) of the impulsive wave .iii (coloured black) has been developing. Yesterday, during the Asian and New York sessions we could observe descending movements from 1.0484 towards the 1.0464 level. Therefore, during the early New York session this commodity […]
AUD/USD Elliott Wave For the past few weeks the AUDUSD pair has been trading downwards, we are looking at the move from 0.9754 as Zig-Zag correction inside the b wave (coloured red). During the Monday’s Asian and European sessions we could observe strong descending movements from 0.9389 towards the 0.9355 level. Therefore, during the New […]
Today’s Support and Resistance levels: R3: 1.6488 R2: 1.6422 R1: 1.6320 Current spot: 1.6267 S1: 1.6228 S2: 1.6114 S3: 1.6035 Technical summary: The break above resistance at 1.6294 has forced us to a new short-term count, but our overall bearish expectations are still intact. However, the break above 1.6294 has also opened up […]
Today’s Support and Resistance levels: R3: 134.24 R2: 133.73 R1: 133.44 Current spot: 133.25 S1: 132.91 S2: 132.21 S3: 131.50 Technical summary: Well, the rally of the 131.20 low has become larger than expected, but then second waves are allowed to correct the entire first wave, but the second wave can never break […]
Today data on Tertiary Industry Activity m/m, 30-y Bond Auction, Consumer Confidence, Prelim Machine Tool Orders y/y, etc. will be released in Japan, but when the US market opens there will not be released news from the US. So for today we predict the price action from USD/JPY will move in a moderate volatility. TODAY’s […]
Daily chart: The USDX is forming a lower high pattern below the SMA 200 and the resistance at the level of 81.50. If the USDX manages to break that level, it is expected to go up to the resistance at the 82.51 level. On the other hand, USDX is likely to conduct a bearish rebound […]
Daily chart: The GBPUSD pair continues falling below the resistance level at 1.6046 and the next target in the current bearish trend is the support at the level of 1.5883. However, this pair could begin to form a higher low pattern, to continue the fall. On the other hand, if the pair manages to break […]
The dollar climbed to a 1 ½ month high versus the yen in Asian trading, rising 0.48% to 99.63. Market participants were watching whether the dollar would attempt to scale the 100 yen level again. Data that Japanese consumer confidence dropped sharply during October compared to the previous month, did not help support the yen. […]
European markets have opened slightly lower today, as investors look ahead to a slew of corporate earnings updated from several UK and European corporations. Investors also focussed on the last day of a key policy meeting in China and ongoing debates over the US Federal Reserve’s stimulus program outlook. Closer home, the Royal Institution of […]
