Overview From the today’s H4 chart and as it was expected yesterday, we should wait for breaking the Resistance level 158.00 before making the decision to continue the bullish move. Today and as shown from the H4 chart, the pair failed to break this Resistance level and yesterday it failed to break it as […]
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 […]
Overview: USD/JPY is trading with bullish bias after hitting two-week high 98.69 Wednesday. The rate is underpinned by positive dollar sentiment (ICE spot dollar index last 79.74 versus 79.61 early Wednesday) after the Federal Reserve made no change to its $85 billion-a-month bond-purchase program as expected, but reiterated the economy was improving at a “moderate” […]
Overview: USD/CHF is trading with bullish bias after hitting one-week high 0.9023 Wednesday. The rate is underpinned by positive dollar sentiment. But CHF sentiment boosted by stronger-than-expected Swiss October KOF economic barometer (came in at 1.72, highest since September 2012, versus 1.57 forecast). Daily chart is positive-biased as MACD and stochastics are bullish. Trading recommendations: […]
Daily chart Crude Oil continues to fall to the levels last seen in late June of this year, after data showed that weekly jobless claims in the U.S. fell less than expected. The downward trend was bolstered Wednesday when the Energy Information Administration EIA said crude supplies rose 4.1 million barrels in the week […]
The euro dropped sharply against the dollar, adding to the losses of the previous sessions by shedding 0.45% to 1.3642 after disappointing data from Germany, France as well as the wider Eurozone. The disappointing data in the Eurozone concerned both unemployment and inflation. According to Eurostat, the flash estimate of October inflation came in at […]
Overview: GBP/USD: The resistance has been already set at the level of 1.6100 as well as the support has been set at 1.5960 for October 31, 2013. Therefore, according to the previous events, the price has still been trapped between 1.6040 and 1.5990, then it should be noted that the range today will be […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards, as we expected; the price tested the level of 1.6450, and we almost finished bearish corrective phase; we are still waiting for the testing of 1.6800. I placed Fibonacci and I got FR 61.8% at the price of 1.6800. I also calculated volume […]
Overview: Since our last analysis, Gold has been trading sideways, around the level of 1,335.00 on ultra high volume, and it may end the small bullish corrective phase as we expected. In the daily chart, we can observe lack of demand on the volume below the average, which is a sign that Gold may start […]
NZD/USD: Trading recommendations: According to the previous events, the price is still between the levels of 0.8288 and 0.8377. The descending movement will probably be lower than the 0.8340 level with the first target at 0.8255 and 0.8225, then the trend will form a double bottom at the price of 0.8194 (Daily chart). Buy deals […]
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, […]
Daily chart: The USDX goes up and trying to get to the resistance at the 80.11 level. If the USDX manages to break that level, it is expected to rise to resistance at the 80.62 level. On the other hand, if the USDX makes a bearish rebound at current levels, it would be expected to […]
Daily chart: GBPUSD is trying to break the bullish trend line support near the 1.6046 level. If the pair manages to break that trend line, it is likely that this pair will continue the bullish move for a few days. On the other hand, if the pair found support at current levels, it is likely […]
The Dollar index continues to move higher inside our upward sloping channel. Our short-term view was bullish from two days ago, and we continue to get confirmation of short-term uptrend as pries make short-term higher highs and higher lows breaking above short-term resistance levels. Prices have reached the 50% Fibonacci retracement level and the upper […]
Gold did not manage to break above its previous high and made a double top and reversal confirming our bearish view. Prices initially broke below the 1,353 pivot support and then failed to hold the support levels at 1,346 and 1,338. Prices are heading towards the 1,318 price level, where the 38% Fibonacci retracement is. […]
After the two-day Fed’s meeting it was decided to leave QE3 unchanged ($85 billion a month). The Committee noted that there is improvement on the labour market, which investors regarded as the beginning of trimming from December, not from March, though the labour situation improved according to the whole level of unemployment, not the data […]
General overview for 31/10/2013 09:00 CET Although it looks like wave 5 of wave A green has been done and the target level I had mentioned yesterday has been hit, there is still a possibility of an Ending Diagonal wave 5 navy. This scenario for wave A green termiantion is in play as long as […]
General overview for 31/10/2013 08:40 CET The corrective wave 2 OR (b) has been finished with (w)(x)(y) complex corrective Double Three pattern at 134.40. Currently, the pair is in the first stages of impulsive decline that might reach the level of 133.68 – 133.58. Sub-wave (iv) has resistance so far at 134.80, but it can […]
USD/CAD Elliott Wave The whole week, the USDCAD pair has been trading upwards, five impulsive waves in the corrective wave A (coloured blue) has been developing. During the Wednesday’s Asian and European sessions, we could observe descending movements from 1.0470 towards the 1.0438 level. Therefore, during the early New York session this commodity pair did not manage to hold the bearish […]
The Bank of Japan’s loose monetary policy will likely keep the yen weak. In contrast to the BOJ, the Bank of England is expected to tighten monetary policy sooner than the BOJ. A string of UK data indicates the economy is on path to a stronger recovery, leading to the recent strength in the British […]
The news that the Federal Reserve left its policy unchanged during its 2-day meeting on October 29-30, was in line with market expectations. The Fed’s overall assessment is that since September, incoming information “generally suggests that economic activity has continued to expand at a moderate pace”. In addition, both developments in the labor […]
AUD/USD Elliott Wave Since our last analyses, the AUDUSD pair has continued trading lower, corrective wave C (coloured blue) of the bigger wave (x) (coloured green) has finished developing. Yesterday, during the Asian and European sessions, we could observe an ascending movement from 0.9457 towards the 0.9514 level. Therefore, during the New York session, this major […]
Asian leads but Europe cautious Morning Report: 08.45 London • This morning, the Australian and New Zealand dollars are performing well following better than expected Aussie date overnight and the RBNZ keeping rates on hold. Japanese equities were boosted by the BOJ report which held no surprises. Things are different in Europe however as traders wait […]
The Bank of Japan announced after its policy meeting today that it left monetary policy unchanged. There was a unanimous vote to continue with increasing the monetary base by 60-70 trillion yen per year in an effort to stimulate the Japanese economy. While the decision was in line with market expectations, the yen strengthened slightly […]
Today’s support and resistance levels: R3: 1.6727 R2: 1.6676 R1: 1.6644 Current Spot: 1.6612 S1: 1.6601 S2: 1.6559 S3: 1.6498 Technical summary: After a very complex b-wave to 1.6726, we have begun a impulsive decline in wave c. This c wave of wave ii should at least decline to 1.6469 and could make it […]
Today’s Support and Resistance levels: R3: 136.27 R2: 135.76 R1: 135.27 Current Spot: 134.89 S1: 134.76 S2: 134.26 S3: 133.88 Technical summary: Having reviewed the price action since the mid-June low at 124.96, we have decided to shift our preferred count to the above. Instead of triangle formation, we have seen a slow overlapping move […]
EURUSD: Right now, there are mixed signals in the market, the recent bullish scenario has been put in jeopardy. The price has dropped by over 100 pips (from the resistance line of 1.3800). Any movement below the support line at 1.3700 means that the bullish trend is completely over. USDCHF: ‘Let the EMA 11 cross […]
TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3793. Strong Resistance:1.3784. Original Resistance: 1.3771. Inner Sell Area: 1.3758. Target Inner Area: 1.3725. Inner Buy Area: 1.3692. Original Support: 1.3679. Strong Support: 1.3666. Breakout SELL level: 1.3657. DESCRIPTION: Today EUR/USD has support and resistance at 1.3679 and 1.3771. The rate is accompanied by strong support at 1.3666 and […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 98.91. Resistance. 2 : 98.72. Resistance. 1 : 98.52. Support. 1 : 98.29. Support. 2 : 98.10. Support. 3 : 97.90. DESCRIPTION: Please, pay attention to the levels of support 3 (97.90) and resistance 3 (98.91). Normally, when a level is touched, USD/JPY will rebound from […]
Technical outlook and chart setups: The metal has resumed retracement after printing highs at 1,361.00 recently. The Fed’s outlook has proved to be the trigger for the fall late night. It is recommended to await prices to retrace up to 1,280/1,300, before planning to go long again. Immediate resistance is at the 1,370/80 levels, while […]
