Overview: NZD/USD is consolidating with bearish bias. The NZD/USD pair is undermined by Kiwi sales on soft NZD/JPY cross amid increased investor risk aversion; bullish dollar sentiment; weaker commodity prices. But NZD/USD losses are tempered by Kiwi demand on soft AUD/NZD cross; positions adjustment before weekend. The Kiwi is vulnerable to China October trade balance […]
Overview: USD/CHF is consolidating with bullish bias. The USD/CHF pair is underpinned by bullish dollar sentiment; franc sales on soft CHF/JPY cross. But USD/CHF gains are tempered by franc demand on weak EUR/CHF cross; positions adjustment before weekend. Daily chart is mixed as five-day moving average above 15-day MA and advancing, MACD is bullish; but […]
Daily chart: The USDX has managed to consolidate above support at 80.62 level, after it has been able to form a successful lower high pattern. Now, the USDX is trying to break the resistance at the 81.50 level, which houses the 200-day moving average, but it is very likely that the USDX starts to form […]
The US dollar held near its best levels for 2 months, on the aftermath of the much stronger-than-expected employment report on Friday. The euro did manage to firm slightly by 0.06% to 1.3365. In Asian economic news, Japan’s September current account surplus came in bigger-than-expected at 587 billion yen, versus 400 billion expected by economists. […]
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 maintain its tight monetary policy. Closer home, the Confederation of British […]
The US dollar rallied after a stronger-than-expected employment report. US nonfarm payrolls for October increased by a surprisingly strong 204 thousand, whereas economists were expecting a rise of only 125 thousand. It was the first time in 9 months that nonfarm payrolls exceeded 200 thousand. There were also positive revisions to the previous 2 months’ […]
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 1.5195 on ultra high volume (selling climax). Since our Fibonacci retracement 61.8 % held, we may expect re-building of bullish strength. As you can see in the chart, we also got […]
Technical outlook and chart setups: The metal fell down to expected levels at 21.00, before bouncing off sharply. It is very much recommended to hold long positions taken now and earlier. The minimum upside extensions are pointing towards 24.75 levels from here on. Intermediary support levels are 20.50, followed by 19.00 and sub 18.00 levels; […]
Overview: Since our last analysis, Gold has been trading downwards, like we expected; the price tested the level of 1,296.37 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 […]
The ECB rate cut decision pushed the Dollar Index to new short term highs. In yesterday’s analysis we noted that for the trend to change to bullish, prices should break above the blue downward sloping trend line at 80.75. Once this resistance level was broken, the upside potential would be near 81.50. Prices have only […]
Technical outlook and chart setups: The currency pair has finally broken the immediate rising trend line support and has moved lower almost taking 131.00 levels. If stopped out, it is recommended to initiate sell positions after a rally now. As seen here, the broken line of support would act as resistance for any rallies from […]
Technical outlook and chart setups: The currency pair has raised through the 1.48 levels as expected and discussed earlier. It is recommended to book partial profits on long positions initiated earlier and also move risk to breakeven levels. Higher side extensions are still pointing towards the 1.4900/30 levels, before the major reversal could materialize. Support […]
General overview for 08/11/2013 08:30 CET Due to lack of wave development in the anticipated way after yesterdays ECB suprise rate cut, a new count has been made that changes just slightly the old one. The main focus in the count is whether Ending Diagonal wave 5 has been done or not in Daily chart. […]
Technical outlook and chart setups: The metal fell down to the expected region between 1,290/1,300 before bouncing back sharply. As recommended earlier the metal has been bought in full capacity and long positions should be held for an upside extension 1,400/30 levels at least. Intermediary support region is 1,250.00, followed by 1,210.00 and 1,180.00; while […]
With the ECB rate cut providing volatility in the markets, Gold was not unaffected by it. Gold prices reached the resistance level at 1,325 once the rate cut decision was announced, and then pulled back down below the recent low at 1,306 towards 1,295 which was the middle of our next target (1,300-1,290). The downward […]
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:Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision… April 19, 2024 US GDP, core PCE and PMIs the next tests for…Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April […]
USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has been trading upwards, so we have changed our primary view slightly, from looking at one more push lower for the end of the b wave (coloured blue), we are calling now b wave completed at the 1.0396 level. Yesterday, during the Asian session, we could observe […]
General overview for 08/11/2013 08:10 CET Yesterday, after the suprise ECB rate cut, the golden trend line has been broken and the price has hit the DEMAND BREAKTHROUGH ZONE for the second time this week. Currently two counts are still possible: – The main count, indicating that the price is still developing wave X brown […]
AUDUSD Elliott Wave Since our last analyses the AUDUSD pair has continued trading lower, so like in the USDCAD pair, we are going to call [b] wave (coloured black) completed cycle at the 0.9542 level and we should be looking for more downwards movements in the [c] wave. Yesterday, during the Asian and European sessions, we […]
The quiet between storms Morning Report: 08.45 London • After yesterday’s volatility, this morning traders are unwilling to stick their necks out ahead of the big Non Farm Payroll results later. • Yesterday’s trading action was enough to allow the City bit of a breather before the next big data point hits. Mario Draghi underlined that […]
(click to enlarge) The euro managed to bounce back from extremely oversold conditions on the hourly chart, indicated by an RSI reading of 12, following the knee-jerk reaction to the surprise quarter-point interest rate cut by the ECB. The low immediately after the rate cut was 1.3293, while perhaps a more reliable reading reflecting active […]
The dollar’s moves were modest during today’s Asian session, as the market digested yesterday’s ECB quarter-point interest rate cut and looked ahead to the crucial non-farm payrolls report with some apprehension. The dollar managed to recoup some of its losses against the euro that occurred during the US session. The euro fell 0.10% to trade […]
Today’s Support and Resistance levels: R3: 132.46 R2: 132.17 R1: 131.79 Current Spot: 131.58 S1: 131.20 S2: 130.88 S3: 130.55 Technical summary: With the break below important support at 132.37, our bullish call for one last rally higher to 137.05 was invalidated and at the same time, it told us that wave v of […]
Overview As it was expected yesterday, the price closed 4H below the support area of 159.00-159.50 and gave a new opportunity for more bearish signals today. As shown, the price has already broken 158.15 and now is testing the support level of 157.60. Closing below this level again may give us more sell signals till […]
Daily chart: The USDX manages to break the resistance at the 80.62 level with a lower high pattern. The USDX tried to rise to the resistance level at 81.50, but this fell rapidly to the level of 80.83. If the USDX breaks the support level of 80.62, it is expected to drop to the level […]
Daily chart: This pair remains above the support at the 1.6046 level. For now, the pair begins to perform slower movements at the end of the week, because this pair has been very bullish within the recent days. However, if this pair does break the support at the level of 1.6046, it is expected to […]
Today we predict the EUR/USD price action to move in a small range after the London Market opens, and to be it normal again after the US-Non Farm Payrolls and the US-Unemployment Rate data release. Please remember to close any open positions or tight your stop loss during one hour before both news and you […]
Today, after the US Market opens, the US-Non Farm Payrolls and Unemployment Rate will be released. It seems the price action for this currency pair will get a good volatility after both news released. Please keep in mind for the safety reason to clear all positions one hour before the news release, and you can […]
EURUSD: The situation in the market is another opportunity to sell, following the recent bearish run. EURUSD dropped towards the support line of 1.3300, bounced upwards from there, and is now trading above the support line of 1.3400. The bearish bias is still extant in the market. USDCHF: This pair shot upwards to the resistance […]
Overview The H4 chart demonstrates today that silver still cannot break the support level of 21.50 and it is currently trading above it and below the resistance level of 22.00, so we should wait for the mid-day closing. If the metal manages to close 4H below it, there will be a good opportunity to […]
