The US dollar took a breather following strong gains last week as the market tried to digest the previous week’s major events such as the quarter-point rate cut by the ECB and the strong nonfarm payrolls for October. The euro managed to rebound by 0.10% to trade above the 1.34 level at 1.3408 versus the […]
Overview Today’s H4 chart shows that the pair might take a new bullish signal after it opened above 158.15 level with the beginning of the current week, as it was expected. Today the pair took an upward movement and managed to reach the resistance level of 159.00 trying to break it through to continue 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 on Wednesday, the […]
The previous bullish swing targeted 100% Fibonacci Expansion level. However, the current 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 daily gains were lost resulting in an […]
Monthly chart In our monthly chart USD/CHF seems to have found major resistance at 0.9200 where there is the first monthly resistance. The dollar dominated the American session last Friday. As a result of the employment figures it was rather surprisingly. Analysts expected figures were weak as a result of temporary government shutdown in […]
Overview According to our last week expectations, the price’s close below the Resistance level of 22.00 will give new opportunities for sell signals. In the beginning of this week the metal has already managed to close below the Support level 21.50 and currently it is testing the Support level of 21.20 to open the way […]
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 […]
Monthly chart After being bearish for two weeks Crude Oil is leaning on its weekly Pivot at 94.28 after leaving a minimum at 93.08 and after finishing with a slight rise last Friday. The U.S. Labor Department on Friday reported that the economy added 204,000 jobs in October despite the government shutdown. That was […]
Overview: USD/JPY is trading in higher range. The rate is underpinned by positive dollar sentiment (ICE spot dollar index last 81.30 versus 80.82 early Friday) after stronger-than-expected U.S. October jobs report (non-farm payrolls increased 204,000 versus +120,000 forecast, unemployment rate came in at 7.3% versus 7.4% forecast) heightened expectations that the Federal Reserve could start […]
Overview: NZD/USD is consolidating with risks skewed lower after hitting one-week low 0.8224 on Friday. The rate is undermined by bullish dollar sentiment; Kiwi sales on rebounding AUD/NZD cross. But NZD/USD losses are tempered by strong economic data out of China; firmer commodity prices; Kiwi demand on NZD/JPY cross amid positive risk sentiment. Daily chart […]
Overview: USD/CHF is trading with bullish bias. The rate is underpinned by bullish dollar sentiment; franc sales on buoyant EUR/CHF cross. But USD/CHF gains are tempered by franc demand on rebounding CHF/JPY cross. Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at overbought, five-day moving average is above 15-day MA and advancing. […]
General overview for 11/11/2013 14:10 CET Both targets from last analysis were hit and now there is a first clue to assume that wave c green of wave X brown is done, but so far there is no immediate impulsive trend resumption to the downside to complete the corrective wave progression in wave Y brown. […]
General overview for 11/11/2013 14:00 CET The ZigZag wave WXY brown has been done now and corrective wave up is in progress. The anticipated level for corretion to complete is 50%Fibo area at 133.32. If SUPPLY ZONE is violated then alternate green count is invalidated as well as immediate impulsive wave progression is canceled. Bias […]
Following heavy losses the previous week, the euro rebounded 0.22%, but stayed under 1.34 to trade at 1.3396 against the US dollar. Eurozone GDP figures are keenly awaited later in the week in order to gauge the strength of the economic recovery of the single currency area. Positive risk sentiment, reflected in higher European equity […]
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 located between the R1 and S1 lines. Within a strong trend, […]
Overview Since our last analysis, the EUR/NZD pair has been trading downwards, like we expected. The price tested and rejected from the level of 1.5911 on ultra high volume (selling climax). 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 […]
Overview: Since our last analysis, Gold has been trading downwards, like we expected; the price tested the level of 1,278.69 on high volume. In the daily chart, we can supply bar on the average volume, which is a sign that Gold started bearish continuation phase. We are still likely to see it testing the weekly […]
Weekly technical levels: Intraday trading recommendations: EUR/USD: According to previous events, the price has still been trapped between 1.3405 and 1.3360. The level of 1.3410 will indicate a strong resistance, moreover the price will be formed at a new top in this level. Therefore, it will be wise to sell at 1.3405 with the […]
Due to a lack of big economic releases from the United States, during the week ahead the market will probably try to digest recent events and try to establish new equilibriums that reflect the latest fundamentals. Monday will mark the Veterans’ day holiday in the United States and will feature only Italian industrial output data […]
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, […]
Gold prices are trading near 1,280 after continuing the lower lows and lower highs pattern. Resistance level at 1,325 was not broken and as we noted in our previous analysis, as long as the prices were trading below that level, then it would be more possible to see 1,290 and lower. Important levels for bears […]
The Dollar index remains in an uptrend as prices continue to make higher highs and higher lows. Short-term resistance is found at 81.40-50 price range. Short-term support is found at 80.75. The upward sloping trend line remains below the trading price and uptrend is supported. The bulls should expect the prices to continue to […]
Markets quiet as bank holidays hit Morning Report: 08.45 London • First we would like to express our support for anyone caught up in the Philippines disaster. • Markets are generally quiet this morning as traders take a much needed break between last week’s data deluge and today’s bank holidays in France, the US and Canada. • So […]
Daily chart After several days of doing ranges the USD/CHF pair yesterday had a spike to the upside, this led to 92.49, however quickly in the next 4 hours the dollar lost everything it had won to stand back below of 0.9155. Today, however, the price continues to climb above 91.55 again so that its […]
Daily chart Right now crude oil stays below 94.50 during the session after yesterday it tried to overcome the peak during the Wednesday’s session. This market has shown the $95 level is resistance, as one would expect as it is a large round psychologically significant number, and as a result the sellers stepped […]
Overview: GBP/JPY is trading in higher range. The rate is buoyed by positive risk sentiment; demand from Japan importers. But GBP/JPY gains are tempered by Japan exporter sales. Daily chart is mixed as MACD is bearish, but stochastics is turning bullish at oversold. Trading recommendations: The pair is trading above its pivot point. It is […]
November 11th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened mostly lower today, as investors avoided strong bets amid expectations that the US Federal Reserve might scale back its economic stimulus program earlier than expected and after a rise in China’s annual inflation fuelled speculation that Chinese central bank would […]
Last Friday, the US released good Non-Farm Payroll and Unemployment rate data and the market participants look there is a significant recovery for the US Economic Markets and this means the Tapering policy soon will be cut by the US government. That is why last week the EUR/USD pair got slam down by USD. For […]
Overview: GBP/JPY is consolidating with bullish bias. GBP/JPY is undermined by weak euro sentiment; increased investor risk aversion; Japan exporter sales. But GBP/JPY losses are tempered by demand from Japan importers; positions adjustment before weekend. Daily chart is negative-biased as MACD is bearish, stochastics stays suppressed at oversold, five-day moving average is below 15-day MA […]
