Overview As shown on today’s H4 chart, the pair has opened this week below the Resistance level of 157.45 which means the pair will almost reverse its bullish move this week. Today, the pair has already started its downward move after it had hit the Resistance level of 157.45 and bounced from it to […]
Daily view: The cable invalidated the previous reversal Head-and-Shoulders pattern maintaining quite strong bullish momentum to the upside. 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 […]
Daily view: Price Zone of 1.3515-1.3560 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 […]
A Big Reason Why 2013 Stock Prices are in the Stratosphere Margin debt is up 100 times in the last 39 years By Elliott Wave International A famous quote attributed to Archimedes, the ancient Greek mathematician, is: “Give me a place to stand and with a lever I will move the whole world.” And, as […]
The dollar was stable during the European session, following moderate losses in the Asian session. The dollar lost an additional 0.06% against the Japanese Yen, to trade at 98.18. The yen managed to win back some of the ground it lost the previous 4 trading sessions. The markets were still expecting news out of Washington […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested level of 1,261.00 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 […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards,as we expected, the price tested the level of 1.6190 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 […]
Gold broke the Head-and-Shoulders neckline on Friday and pushed below the support area of 1,270-80 towards 1,260. Prices are moving downwards in an impulsive pattern breaking support levels and are now back testing the support level at 1,270-80. The bigger picture remains bearish with 1,200-1,150 as the most probable target area for this downward move […]
The dollar index remains supported at 80.25-20. This is a crucial support level that if broken the whole Elliott wave count could change, as there are no impulsive waves with overlaping waves. For now, the wave count we prefer is shown in the first chart below. We expect prices to have finished wave 4 and […]
USD/CAD Elliott Wave Since our last analyses the USDCAD pair has been trading downwards, corrective wave b (coloured blue) of the bigger wave (y) (coloured green) has been developing. During Friday’s Asian and European sessions we could observe a descending movement from 1.0411 towards the 1.0374 level. Therefore, during the New York session this commodity pair continued trading in […]
General overview for 14/10/2013 08:30 CET Five impulsive waves upwards are done and this pair is in corrective cycle wave (ii) green. The first projected level to terminate the correction is around the DEMAND ZONE of grey rectangle and Weekly Pivot support level of 132.72. There is another possibility that the current price action here […]
EURUSD: EURUSD has been moving in a highly volatile manner – giving room for palpable turbulence. There are mixed signals in the market, and it is advisable to wait for a clearer direction, before one takes a position. This direction may be in favor of the bulls or the bears. USDCHF: This pair closed at 0.9114; […]
General overview for 14/10/2013 08:15 CET I will stick with this bullish impulsive count as long as the 1.0328 level is not violated. If this level is hit, the larger cycle impulsive green count is invalidated. Currently, the count is in form of ZigZag wave 4 green and a projected level for this corrective wave […]
AUD/USD Elliott Wave Last week, the AUDUSD pair was trading upwards, just like we expected, corrective wave y (coloured blue) of the bigger wave (y) (coloured green) was developing. During Friday’s Asian and European sessions we could observe an ascending movement from 0.9444 towards the 0.9484 level, and we can consider this move as the end of the first […]
Today’s Support and Resistance levels: R3: 1.6406 R2: 1.6356 R1: 1.6314 Current Spot: 1.6278 S1: 1.6272 S2: 1.6219 S3: 1.6173 Technical summary: Important support at 162.19 has been tested and held firm, which leaves us lock inside this messy sideways consolidation. Have we begun a new impulsive rally higher from the 1.6071 low or was […]
Today’s Support and Resistance levels: R3: 134.50 R2: 133.98 R1: 133.54 Current Spot: 133.31 S1: 133.04 S2: 132.70 S3: 132.42 Technical summary: Red wave iii ended just 9 small pips below the ideal wave iii target at 133.69, and we are currently looking for a decline to the 132.42 – 432.70 support zone for red […]
Weekly chart In the weekly and in the monthly chart USD/CHF is trading below the line of 3/8 (green line), which eventually could mean that the downtrend is not over, and only when the price is above 0.9155, where the line 3/8 (green line) is, which comes to the bottom line of its trading range, […]
Weekly technical levels: General idea about the pivot point: R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well in the sideways markets as the prices are most likely to be located between the R1 and […]
Weekly technical levels: General idea about the pivot point: R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well in the sideways markets, as the prices are most likely to be located between the R1 and S1 […]
Weekly chart Crude Oil WTI ended the week at 101.79 after reaching a minimum at 101.60 and close to about $2 from the opening of Monday and for some time it looked like it could close even below $100.00 during the Friday’s session. U.S. oil production totaled 7,810,000 barrels per day last week, about […]
Daily chart: The USDX performed a bearish rebound at the resistance level at 80.62 and near that level, it formed a fractal. This resistance level is very strong and will be very difficult for the USDX to break. This is likely to drop to the level of 80.11. However, if the USDX achieves in breaking […]
Daily chart: This pair is still forming a higher low pattern over the bullish trendline and below the resistance level at 1.6046. These levels are very important in the development of the general trend of this pair, because for now, GBPUSD is bearish. However, if the pair manages to break that trendline and the support […]
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 08, 2024 April 8, 2024 Potential for the breakout on the USD/JPY…. The material has…Market Comment – Stocks climb after sizzling US jobs report April 8, […]
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Markets hit by US Budget block Morning Report: 08.45 London • Markets gapped lower this morning after another weekend of deadlock in US budget negotiations. Now the best realistic short term hope is for a six week extension for negotiations. • Stockmarket futures have gapped lower, as did the main yen pairs as risk […]
GBPJPY on the Weekly chart is in a strong uptrend and has maintained its bullish bias by remaining in the rising channel. Price action is also above the 50-period moving average. RSI is above 50 in bullish territory. Key support is at the 147.50-147.52 area. A break below this level could cancel the bullish scenario. […]
October 14th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. Find us on social media to be kept up to date with the latest ETX Capital news: Facebook: https://www.facebook.com/#!/ETXCapitalGroup Twitter: https://twitter.com/#!/etxcapital LinkedIn: http://www.linkedin.com/company/445425?trk=tyah ETX Capital’s RSS site: http://my.etxcapital.co.uk/ Related Posts:US CPI data unlikely to ease sticky inflation worries, but… April 8, 2024 US CPI […]
Negotiations between the White House and Republican held House of Representatives hit an impasse this weekend. Markets are down as the prospect of a budget deal is dim and the catastrophic consequences of a possible default by the world’s largest economy is looming. The US debt ceiling deadline is on October 17 and it is […]
