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 […]
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 […]
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 […]
Today’s Support and Resistance levels: R3: 1.6289 R2: 1.6241 R1: 1.6187 Current Spot: 1.6096 S1: 1.6077 S2: 1.6007 S3: 1.5913 Technical summary: With the break below the invalidation point at 1.6016, we knew our bullish count was wrong and we have now adopted our alternate count as the preferred count. This count call for […]
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 […]
European markets have opened lower today, as investors await the release of US non-farm payroll report, which is expected to shed more light on the US Federal Reserve’s outlook towards its bond-buying programme. Closer home, investors look ahead to UK trade balance and Eurozone construction output data, due today. Related Posts:Disney to report higher earnings […]
Overview: GBP/USD: According to the previous events, the price has been trapped between 1.6050 and 1.6090; hence, it is of the wisdom to be careful in this area. Therefore, the first step is to wait for a period of a tight sideways range market before breakouts. Then, it is probable that the market is going […]
Trading recommendations: According to the previous events, the price of the EUR/USD pair is still between the levels of 1.3350 and 1.3420. Moreover, it should be noted that the market was so stable and the trend was also very clear (downward). Similarly, the range was around 107 pips last week. Additionally, the value of 50% […]
The US dollar made a U-turn against the yen after surging on US GDP data today. The dollar rallied above the key 99.00 yen level after data indicated the quickest rate of growth in the US economy in a year during the third quarter. The strong growth raised speculation that the Federal Reserve may be […]
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 […]
The price zone of 1.3560-1.3600 represented a valuable supply zone that kept the price below for almost two months. The pair was showing some bearish rejection manifested in the daily candlesticks as seen on October 10, a bearish engulfing daily candlestick. However, lack of bearish follow-up was witnessed around 1.3480. Instead, a significant bullish rejection […]
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 it […]
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 Inverted […]
Daily chart Crude Oil rose during the Wednesday session, reaching above 95.00 to close finally in 94.84. Prices rose after the Energy Information Administration EIA U.S. said Wednesday that crude inventories rose 1.6 million barrels for the week ended November 1, less than the 2.5 million barrels analysts expected. Late Tuesday, the American Petroleum […]
Daily chart The USD/CHF pair has been doing range between 0.9094 and 0.9155 for the last three days and during the early hours fell slightly. However, at this time of morning it either ascends slowly or finds resistance at 0.9125. To this day publication expected consumer rates by the State Secretariat for Economic Affairs […]
(US GDP growth, quarter-on-quarter, annual rate %) The announcement of advance third quarter GDP growth estimate at 2.8% initially looked very impressive as the figure smashed expectations of growth of 2.0%. However, on closer inspection, GDP was boosted by temporary inventory accumulation, which is likely to be reversed in the future as firms will try […]
Overview: USD/JPY is consolidating in higher range as markets await 13:30 GMT U.S. 3Q preliminary GDP (forecast +2.0%). USD/JPY is underpinned by yen-funded carry trades amid positive risk sentiment (VIX fear gauge eased 4.52% to 12.67; S&P rose 0.43% overnight) on expectations of continued stimulus policies from major central banks; and a research paper by […]
Overview: The resistance for USD/CAD is set at the level of 1.0494; thus, the bears are going to sell below 1.0495, because there is a new top at the price of 1.0486 (between 78.6% Fibonacci retracement levels and 50%). So it should also be noted that the resistance is set at the level of 1.0495; […]
Trading recommendations: NZD/USD: According to the previous events, the price has still been trapped between 0.8390 and 0.8355. Buying: Buy above 0.8335 with the first target of 0.8365, it might resume to 0.84. Selling: Swing trade at 0.8403 in order to sell with a traget of 0.8373 then it will continue towards 0.8340, if […]
Overview: Since our last analysis, Gold has been trading sideways around the level of 1,314.00, we are still waiting for more downward movements and bearish continuation. In the daily chart, we can observe lack of demand on volume below the average, which is a sign that Gold started bearish continuation. We are still likely to […]
Overview: GBP/JPY is trading in higher range. The rate is buoyed by positive investor risk appetite; improved euro 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 […]
Overview: NZD/USD is consolidating with bullish bias after hitting two-week high 0.8414 on Wednesday. The rate is buoyed by Kiwi demand on NZD/JPY cross amid positive risk sentiment; broadly weaker dollar undertone; firmer commodity prices; Kiwi demand on soft AUD/NZD cross. Daily chart is mixed as MACD is bearish, but stochastics is rising from oversold, […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways, around the price of 1.6129, we are still waiting for testing the level 1.5940. I placed Fibonacci expansion to find a potential end of bearish corrective phase, and I got FE 61.8% at the price of 1.5940. We also got Fibonacci retracement 61.8% […]
The European session was dull for the most part until the Bank of England and European Central Bank policy decisions. These were the biggest risk events today, and most market participants preferred to wait on the sidelines until the announcements were made, which kept most major currency pairs locked in trading ranges before breaking out […]
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:Why does the 10-year US yield remain so high? – Special… April 7, 2024 The 10-year US yield is a key determinant of FX…Weekly Forex Outlook: 05/04/2024 – ECB decision and […]
November 7th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened slightly lower today, as investors observed caution before the monetary policy decisions from the European and UK central banks, scheduled today. Investors also eyed the third-quarter US GDP and jobless claims data, due today, to determine the US Federal Reserve’s […]
The balance of the macroeconomic data in the Eurozone was positive. PMI Services in the Eurozone was 51.6 vs. expectations for 50.9. German Industrial Production in September grew 3.3% vs. forecast for 0.6%. Retail sales declined 0.6% vs. forecast for -0.3%. The euro grew 40 points. In the UK Industrial production in September grew 0.9% […]
