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 reclosure below it enabled the […]
Overview: Since our last analysis, Gold has been trading sideways around the price of 1,301.00 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 lack of demand on volume just below the average, according to the daily […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around the price of 1.6374, we are still waiting for more downward movements. 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 […]
Overview: GBP/JPY is trading in a range. It is supported by improved euro sentiment, waning investor risk aversion, demand from Japan importers. But GBP/JPY upside is limited by Japan exporter sales. Daily chart is mixed as MACD is bearish, but stochastics is turning bullish in oversold zone. Trading recommendation: The pair is trading below its […]
Daily view: The cable invalidated the previous reversal Head-and-Shoulders pattern maintaining quite strong bullish momentum to the upside. Daily closure above 1.5719 (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 pair expressed a bearish Harami daily candlestick […]
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 1 bearish inverted hammer 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 […]
Overview: Key level will be set at the price of 1.0450. Range: between 1.0420 and 1.0350. The resistance for USD/CAD is set at the level of 1.0450, therefore, the bears are going to sell below 1.0450, because there is a new top at the price of 1.0450 (between 61.8% Fibonacci retracement levels and 78%). So […]
Overview: GBP/USD: The resistance has been already set at the level of 1.6090 (the weekly pivot point sets at the level of 1.6093) as well as the support has been set at 1.5840 for August 10 – 11, 2013. Therefore, according to the previous events, the price has still been trapped between 1.6000 and […]
Risk appetite is up today, helping the euro and sterling move higher against the dollar, while the safe haven yen fell against the dollar. Futures are trading higher today. The upbeat mood in markets today could be attributed to some signs of a compromise deal in the US political deadlock after news that there is […]
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:Forex forecast 04/05/2024: EUR/USD, GBP/USD, SP500 and… April 7, 2024 We introduce you to the daily updated section of Forex…Why does the 10-year US yield remain so high? – Special… April […]
General overview for 10/10/2013 11:00 CET After making abc purple correction in shape of Irregular Flat, this pair is ready for more impulsive wave progression to the upside. The first resistance level is the descending golden trendline, just above the weekly pivot. If broken, 132.68 is in view. Please notice that intraday support level zone […]
General overview for 10/10/2013 10:45 CET Five waves impulsive advance in wave (iii) green has been finished and the price has missed by 2 pips 161%Fibo Expansion of the wave (i) green. Currently, the price is in the corrective cycle wave (iv) green and it looks like the first wave of ths correction is done […]
Gold has broken the sideways triangle downwards and fell below 1,300 reaching the 1,290 support. Now it is trading near 1,304, prices are expected to continue to move lower as resistance at 1,330 was rejected and we expect the precious metal to continue falling. Short-term support is found at 1,290,1,280, 1,270. The 1,270 price level […]
The Dollar index is testng intermediate-term trend resistance at 80.60-70. The upward move from the lows is impulsive and it unfolds as if there is high probability that the longer-term trend is changing and that we are in a big reversal level. Our target of reaching 80.60 has been achieved and as shown in the […]
Yesterday’s positive data on Industrial Production in Germany in August (1.4% vs. 1.1%) could not manage to constrain the press of the US dollar optimists amid the information that Barack Obama nominated Janet Yellen, the current Federal Reserve vice chairman, to succeed Ben S. Bernanke as central bank chairman. The minutes of September’s FOMC meeting […]
GBPUSD remains bearish below 1.6000. Price action is below the downtrend line on the 4H time frame, while the 20-period Moving Average crossed below the 50-period Moving Average, which is a bearish signal. RSI has fallen to bearish territory. However since RSI is approaching oversold levels, there is a possibility for price to make a […]
Wave analysis: As it was expected, yesterday the GBP/USD pair started trading session with downward movement and lost no more than 200 basis points and reached the level of 1.5915. Thus, it looks like the currency pair has moved to the stage of forming wave 3, or c, in terms of downward corrective structure, starting […]
EURUSD is bearish and back in a downtrend after breaking below its short-term uptrend line and fell below the 50-period moving average on the 4H time frame. Price action is currently along the lower Bollinger Band at around 1.3514. . RSI is falling towards 30 which is bearish territory. Next support level is at 1.3460 […]
USD/CAD Elliott Wave For the last few days the USDCAD pair has been trading upwards, corrective wave a (coloured blue) of the bigger wave (y) (coloured green) has been developing. Yesterday, during the Asian and European sessions we could observe ascending movements from 1.0351 towards the 1.0385 level. Therefore, during the New York session this commodity currency continued trading in […]
AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading downwards, just like we expected, corrective wave b (coloured blue) of the bigger wave (Y) (coloured green) has been developing. During the Wednesday’s Asian and European sessions we could observe ascending movement from 0.9412 towards the 0.9463 level. Therefore, during the early New York session this pair […]
EURUSD: the greenback is strong, and that is why this pair gave way. The Williams’ % Range is in the oversold territory and the EMA 11 has crossed the EMA 56 to the downside. This is a bearish signal – it is likely that the price would reach the support line at 1.3450. USDCHF: As a […]
As part of our epic World Tour, the XM management stopped over in Bangladesh for 5 action packed days giving both us and our local representatives the opportunity to connect with partners and clients. During the visit, XM hosted a special event where it presented its new services to all attendees. This also provided partners […]
TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3586. Strong Resistance: 1.3578. Original Resistance: 1.3565. Inner Sell Area: 1.3552. Target Inner Area: 1.3520. Inner Buy Area: 1.3488. Original Support: 1.3475. Strong Support: 1.3462. Breakout SELL level: 1.3454. DESCRIPTION: Today EUR/USD has support and resistance at 1.3475 and 1.3565. The rate is accompanied by strong support at […]
Today’s Support and Resistance levels: R3: 1.6464 R2: 1.6425 R1: 1.6398 Current Spot: 1.6347 S1: 1.6304 S2: 1.6258 S3: 1.6219 Technical summary: The messy and hard-to-read consolidation is continuing. We did see a break below support at 1.6267 yesterday, which should have caused a stronger downside pressure than we did see. We now have two […]
Today’s Support and Resistance levels: R3: 132.69 R2: 1.3236 R1: 132.18 Current Spot: 131.89 S1: 131.74 S2: 131.51 S3: 131.12 Technical summary: There is no more time left, we are at a make-it-or-break-it point. Either the triangle concept is going to hold, by breaking above 132.18 for a continuation higher towards 133.21 and 134.95 on […]
The US dollar extended gains against the yen, rising for the third day as markets sentiment has improved for the currency. Investors are optimistic that a deal will be reached in the US Congress to avoid a default by the government when the debt ceiling is reached on October 17. The nomination of Janet Yellen […]
Daily chart: The USDX had a great day yesterday trending upwards, because the U.S. President Barack Obama announced the nomination of Janet Yellen to replace Ben Bernanke at the Federal Reserve Chairman’s position from 2014. The USDX manages to consolidate above support at the 80.11 level and now the USDX is trying to break the […]
Daily chart: GBPUSD had a strong fall in the session yesterday, after it had formed a higher low pattern above the support at the 1.6046 level. Now, the pair is expected to fall to the support level at 1.5883, where the bullish trendline is placed. If the pair manages to break that level, it is […]
Technical outlook and trading setups: The metal has reversed ahead of the 23.00 levels producing an evening star as depicted in the chart here. It is recommended to exit long positions for now before committing further. Aggressive trading strategy would be to initiate short positions now with stop above 23.50. Intermediary resistance is at 25.00, […]
