Today’s Support and Resistance levels: R3: 133.83 R2: 133.63 R1: 133.33 Current Spot: 133.16 S1: 132.96 S2: 132.61 S1: 132.15 – 61.8% retracement of red wave i most likely target for red wave ii. Technical summary: With the early break below important support at 133.35, we knew that we had already ended red wave i […]
European markets have opened lower today, as the US debt crisis deadline inched closer and after Fitch placed US ‘AAA’ rating on a ‘negative watch’. Closer home, investors await the release of ILO’s UK unemployment rate and average earnings data, due later in the day. Related Posts:Technical Analysis – AUDJPY in overbought waters; RBA rate… […]
Nervousness was back in the markets as headlines broke late in the US session that talks on the US debt ceiling in Washington broke down again. The news comes just 24 hours after Senator Harry Reid said they were close to reaching an agreement. Another day of meetings appeared to have stalled as US lawmakers […]
Daily Graphics After reaching a maximum at 102.60 on Monday, the light crude oil (CL) retracted downwards today from the area near the bottom line of the upward channel trend (pink line). However, since there is another bottom line around 100.60 and 100.50 (purple line), 100.00 further is the line 0/8 of Murrey […]
Daily chart We could see that USDCHF had a bullish momentum over 60 pips from its opening at 0.9102. We can also note that the line eighth (yellow line) is an important bottom, where the pair has found support. Previously, the 0.9155 area was a major resistance. Now there is the line 2/8 Murrey, where […]
Daily view: 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 […]
Daily view: Price Zone of 1.3530-1.3560 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 of the previous weeks as well as seen on October 10, a bearish engulfing daily candlestick. However, lack of bearish follow-up was witnessed […]
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. The uptrend line around 1.5430-1.5400 applied bullish pressure on the pair, which was able to break through 1.5720, which corresponds to the August highest level and the […]
Three 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 last week’s movement as the re-closure below it enabled the […]
(ZEW Economic Sentiment, Source: Reuters) The release of today’s ZEW investor sentiment saw the index climb to 52.8, which represents a 3 ½ – year high. While the main focus of attention continues to be the United States and the negotiations to end the standoff between Republicans and Democrats, the signs of a slow economic […]
The US dollar was the main beneficiary of today’s European session. In UK data, the eagerly awaited consumer price index for September chalked up a gain of 2.7%, slightly surpassing expectations of a 2.6% gain. A rise in air fares was countered by a drop in the price of motor fuels according to the statistics. […]
Overview: USD/JPY is trading with bullish bias. It is underpinned by improved dollar sentiment, reduced safe-haven appeal of the yen and the yen-funded carry trades amid better investor risk appetite (S&P rose 0.41% overnight) after Senate leaders said they were optimistic about striking a deal to reopen the federal government and sidestep a looming debt […]
Overview: GBP/JPY is consolidating with bullish bias. It is supported by positive investor risk appetite, demand from Japan importers. But GBP/JPY gains are tempered by Japan exporter sales. Daily chart is positive-biased as stochastics is bullish; MACD staged bullish crossover against its exponential moving average; the five-day moving average is rising above the 15-day MA. […]
Overview: NZD/USD is consolidating with bullish bias after hitting a near-three-week high of 0.8380 Monday. It is supported by Kiwi demand in the NZD/JPY cross amid positive investor risk appetite, Kiwi demand in the soft EUR/NZD and GBP/NZD crosses. But NZD/USD upside is limited by improved dollar sentiment. Daily chart is mixed as MACD is […]
OvervieW: USD/CHF is trading with risks skewed higher. The pair is supported by improved dollar sentiment, reduced safe-haven appeal of the franc amid positive investor risk appetite. But USD/CHF gains are tempered by the franc demand in the buoyant CHF/JPY cross. Daily chart is positive-biased as MACD & stochastics are bullish, the five-day moving […]
Aussie boost on rate outlook Morning Report: 08.45 London • This morning, the Australian dollar is on the rise after the release of the minutes from the last RBA meeting which indicated that a rate cut was not imminent. The AUD/USD is up 0.43%, with the NZD/USD riding on its coat tails, up 0.35%. […]
General overview for 15/10/2013 09:15 CET Due to the fact that the main count is almost invalidated let us take a look at alternate count on a higher time frame today. H4 time frame shows a possibillity of three wave movement to the upside that seems to be a part of a larger pull back […]
EURUSD: EURUSD moved indecisively yesterday, whereas the bullish signal is still valid (given the position of the indicators). The resistance line at 1.3600 would soon be broken to the upside, because when a breakout does occur, it would be in favor of the bulls. USDCHF: Oddly enough, the signal on this pair is also bullish. The […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested level of 1,255.00 on high volume, we are still likely to see it testing the weekly FE level of 161.8% (Weekly third target) at the price of 1,151.00. I saw supply on volume above the average, according to the […]
Gold is moving downwards in an impulsive pattern. We mentioned yesterday that prices were back testing the broken support neckline and that soon selling pressures would come back. The upward move from 1,264 to 1,289 was corrective as explained yesterday as the overlapping pattern suggested so. Today new lows are made towards 1,258 as expected. […]
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 05, 2024 April 7, 2024 Potential for the further drop on NAS100 ….The material has…Why is gold defying gravity? – Special Report April 7, 2024 Gold […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards,as we expected, the price tested the level of 1.6130 on high volume. We may expect the testing of Fibonacci RE 61.8% at the price of 1.5915. In the daily chart, we can observe supply bar on average volume. This is a sign that […]
Although the dollar index has overlapped the wave 1 high and canceled the wave 4 count, we now turn to another bullish alternative that implies that another wave 1 and 2 are finished, but they are of lower degree. The bullish potential of this wave count is even bigger than the previous wave count. The […]
General overview for 15.10.2013 09:00 CET Green wave b almost hit the target zone of the grey rectangle, but it got rejected at 133.82 and now the price is in the last stage of Irregular Flat correction. This last wave downwards should develop in five impulsive waves. The targets for this wave are 133.02 and […]
USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has been trading downwards, corrective wave .y (coloured black) of the bigger wave b (coloured blue) has been developing. During Monday’s European session we could observe descending movements from 1.0369 towards the 1.0340 level.Therefore, during the early New York session this commodity pair did not manage to hold this levels […]
AUD/USD Elliott Wave Since our last analyses, the AUDUSD pair has been trading upwards, just like we expected, final .C wave (coloured balck) of the bigger wave Y (coloured blue) has been developing. Yesterday, during the Asian and European sessions, we could observe ascending movements from 0.9425 towards the 0.9483 level. Therefore, during the New York session this major pair continued […]
The dollar marked a 2-week high against the yen on Tuesday, but traded in the middle of its range of the last 4 months or so. The dollar bounced strongly off the 96.50 area and it will be interesting how high this bounce can lead to. The RSI is at 51, which represents a neutral […]
October 15th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets opened higher today, mirroring gains in the US and Asian equity markets, amid indication that the US lawmakers might soon reach a deal to increase debt limit and put an end to the partial Government shutdown. Closer home, investors await the release […]
The US dollar remained mostly strong during the Asian session, although market participants were reluctant to push it higher on fears that optimism about a deal in Washington could wane and that a compromise would only be a short-term fix. Furthermore, there were doubts whether any potential deal struck in the Senate would satisfy the […]
Daily chart: GBPUSD has moved slowly in the last hours. This pair is trying to respect the bullish trendline. But any breakout at that trendline could accelerate the fall of this pair to the support at the 1.5883 level. On the other hand, if the pair manages to break the resistance at the 1.6046 level, […]
