How to Identify Turning Points in Your Charts Using Fibonacci By Elliott Wave International In this trading lesson, Elliott Wave International’s Jeffrey Kennedy shows you how you can use Fibonacci to forecast potential turning points in your charts. You’ll learn the most common Fibonacci retracements and where to expect them in your charts. At the […]
How to Identify Turning Points in Your Charts Using Fibonacci By Elliott Wave International In this trading lesson, Elliott Wave International’s Jeffrey Kennedy shows you how you can use Fibonacci to forecast potential turning points in your charts. You’ll learn the most common Fibonacci retracements and where to expect them in your charts. At the […]
How to Identify Turning Points in Your Charts Using Fibonacci By Elliott Wave International In this trading lesson, Elliott Wave International’s Jeffrey Kennedy shows you how you can use Fibonacci to forecast potential turning points in your charts. You’ll learn the most common Fibonacci retracements and where to expect them in your charts. At the […]
The US dollar made a sharp turnaround against the yen after better-than-expected ISM non-manufacturing data. The index indicated that the US service sector grew in October, bolstering the probability that the Federal Reserve could begin tapering stimulus sooner than March 2014, as was previously thought. The ISM non-manufacturing index rose a full point from September […]
Daily chart During Monday’s session the USD/CHF pair tried again to breach the 0.9155 area but it failed. As we mentioned yesterday in our analysis we believe that this area is an important resistance level. Similarly, this morning the pair is ascending recovering its losses yesterday, however after the formation of a double top after […]
Overview: USD/CHF is trading in higher range after hitting near-three-week high 0.9151 on Monday. The rate is undermined by weaker dollar sentiment; franc demand on soft EUR/CHF cross. Data focus: 08:15 GMT Switzerland October CPI. Daily chart is still positive-biased as MACD and stochastics are bullish, five-day moving average is above 15-day MA and advancing; […]
Daily chart Yesterday, Crude Oil fell back and touched its lowest level in four months and now stays below 95.00 a barrel. The decline reverses better than 4% gain during the second quarter and stands in contrast to the sharp increase in capital expenditures during the early stages of the economic recovery. The Commerce […]
Overview: USD/JPY is trading in lower range. The rate is undermined by softer dollar sentiment (ICE spot dollar index last 80.57 versus 80.72 early Monday) after FOMC voting member James Bullard said it’s a bit of struggle to imagine cutting the pace of bond buying so soon as he remains “nervous” that inflation readings remain […]
Sterling rose strongly today after the release of October Services PMI for October. The survey’s headline index surpassed expectations by coming in at 62.5, compared to expectations of a slowdown to 59.8. The September figure was 60.3. There were also good news in the sub-components of the survey, as both the employment component and the […]
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 […]
Daily closure above 1.5720 (the highest level in August) enhanced further bullish pressure to be applied, so that the bulls could step above 1.5760 (the highest level in June). 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 […]
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 it […]
Overview: Since our last analysis, Gold has been trading downwards,as we expected; the price tested the level of 1,311.62 on high volume, and we ended the small bullish corrective phase as we expected. In the daily chart, we can observe no demand bar on volume below the average, which is a sign that Gold started […]
Overview: The resistance for USD/CAD is set at the level of 1.0490; thus, the bears are going to sell below 1.0495, because there is a new top at the price of 1.0486 (between 61.8% Fibonacci retracement levels and 78.6%). So it should also be noted that the resistance is set at the level of […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards, the price tested the level of 1.6181 on high volume. 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 % at the […]
Overview: It should be noted that the price of the USD/CHF pair has still been trapped between 0.9080 and 0.9110, as well as the price has been set below strong resistance at the levels of 0.9170 (50% of Fibonacci retracement levels in H4 chart). Additionally, it is worth noting that these levels coincidу between […]
There was more movement in currency markets today after a relatively quiet start to the week. Economic data released during the European session from the UK and from the Eurozone caused some volatility for the pound and for the euro. Sterling was noticeably higher following stronger – than – expected Services PMI which beat forecasts […]
Technical outlook and chart setups: There has been structurally no change in the counter since yesterday. It is very much recommended to hold long positions initiated yesterday and buy more around the 21.00 levels. It is the fibonacci 0.618 retracement of the rally between 20.50 and 23.00. Intermediary support is at 20.50, followed by 19.00 […]
Technical outlook and chart setups: The currency pair has bounced off the fibonacci 0.618 retracement levels recently, of the rally between 131.00 and 135.00. It is recommended to remain long on positions taken yesterday and also buy on further dips as long as prices are above 131.00. This is immediate support (131.00), followed by 130.00/129.00 […]
Technical outlook and chart setups: The currency pair should gather pace on the higher side after bouncing off the fibonacci 0.618 retracement levels at 1.4380/1.44 recently. It is, hence, recommended to hold long positions for now and also look to add further on dips. Initial support is at 1.4350 (intermediary), followed by 1.4200, and 1.4075, […]
Technical outlook and chart setups: The metal has been almost unchanged since yesterday, after bouncing off from the 1,310.00 levels. As depicted here, it is quite possible that the retracement or pullback might be over around the 1,310.00 levels; hence, it is recommended to remain long on positions initiated yesterday. As shown here, the best […]
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:EUR/USD. April 26th. Bulls continue to advance after the GDP… April 26, 2024 The EUR/USD pair on Thursday rebounded from the corrective level…Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed […]
AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading upwards, just like we expected, corrective wave a (coloured blue) of the bigger wave [b] (coloured black) has been developing. Yesterday, during the Asian and European sessions, we could observe ascending movements from 0.9441 towards the 0.9501 level. Therefore, during the New York session this major pair continued […]
The upward attempt which Gold prices made yesterday was weak and had an overlapping corrective pattern. The upward move was not impulsive and prices fell back down easily towards 1,310. This sideways move makes us believe that the downward move from 1,360 is not over yet. Prices have stopped below the 1,325$ resistance and moved […]
The Dollar index remains in the upward trend as prices continue to trade within the upward sloping channel. Prices are moving upwards impulsively, and we believe that at least one more new higher high is expected. The short-term support is found at 80.50 that if broken will most probably push the index towards 80.15. The […]
USD/CAD Elliott Wave Since our last analyses the USDCAD pair has been trading upwards, corrective wave .y (coloured black) of the bigger wave b (coloured blue) has been developing. During Monday’s Asian and European sessions, we could observe descending movements from 1.0427 towards the 1.0396 level. Therefore, during the New York session this commodity pair did […]
After full-scale one-week attack on the euro and the British pound, which took place on Monday, the investors decided to look around. The euro grew 27 points, the pound added 43 points, and the Australian dollar rose 72 points. The correction was amid strong European, British and Australian data. PMI Construction in the UK in […]
EURUSD has been in an uptrend since the July 9 low of 1.2753 until it peaked at 1.3831 on October 25. It subsequently fell until November 1st where it stalled and is hovering around the key 1.35 level. The uptrend line is providing strong support at 1.3440, while immediate support is at 1.3481. On the […]
China leadership meeting weighs on Aussie Morning Report: 08.45 London • The Aussie dollar continued to dance to China’s tune this morning as the currency dips head of the highly anticipated Chinese leadership meeting. The AUD/ JPY is off by 0.68%, though this move is exaggerated by the resurgent yen. This downside move comes despite warnings […]
