Overview From the today’s H4 chart, we can notice that the pair opened this week below the Resistance level 158.00 which would give the pair a good opportunity to start its bearish move. Actually and as shown, the pair took a slightly downward move and currently is trading above the support level 156.70 and […]
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 managed to break through 1.5720, thus matching the August highest level and the recently established […]
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 […]
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 […]
Overview: USD/JPY is trading in higher range. The rate is supported by yen-funded carry trades amid positive investor risk sentiment (VIX fear gauge eased 0.83% to 13.09; S&P rose 0.44% Friday as it hit all-time high), as expectations that the Federal Reserve will delay tapering its $85-billion-a-month bond-buying stimulus program until at least March 2014 […]
Overview: GBP/JPY is trading in higher range. The rate is supported by positive risk sentiment; demand from Japan importers. But GBP/JPY gains are tempered by Japan exporter sales. Daily chart is mixed as MACD is bullish, five- and 15-day moving averages are advancing; but stochastics is bearish at overbought. Trading recommendations: The pair is trading […]
Overview: NZD/USD is trading in lower range. Financial markets in New Zealand are shut today for holiday. NZD/USD is undermined by concerns about banking system liquidity in China; positions adjustment before U.S. FOMC monetary policy decision Wednesday; Kiwi sales on buoyant AUD/NZD cross. But NZD/USD downside is limited by positive risk sentiment; expectations that the […]
Overview: USD/CHF is trading with risks skewed higher. The rate is supported by profit-taking on short-USD/CHF positions before U.S. FOMC monetary policy decision Wednesday; franc sales on buoyant EUR/CHF cross. But USD/CHF gains are tempered by expectations that the Federal Reserve will continue its ultra-loose monetary policy well into 2014. Daily chart is mixed as […]
Daily chart After two days of indecision, USD/CHF is moving steady so far. But at this hour of the morning, it is meeting resistance which could lead to retract slightly. Looking at the trend oscillated, we note that it is held in an oversold zone, and therefore, there is a high probability that the price […]
The new trading week started off quietly, with a light economic calendar in the Asian and European sessions keeping most major currency pairs in ranges. The only major data due for release today is US Pending Home Sales. The main currency that will be in focus this week will be the US dollar again due […]
Overview: Since our last analysis, Gold has been trading sideways, around the level of 1,351.52 on ultra high volume (buying climax), 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 […]
Weekly technical levels: Overview about 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 lines. […]
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 […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, the price broke the previous high at 1.6510, tested 1.6681on high volume and started the major bullish continuation earlier that we had planed. I placed Fibonacci and I got FR 61.8% at the price of 1.6800. I also calculated volume in the legs […]
General overview for 28/10/2013 10:20 CET The wave 5 black target area marked as a grey rectangle has not been hit (5 pips failure), and there is still possibility that the market will make another attempt to run for it, because the last wave up after wave 4 black looks like it consists of three […]
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:Powell made a bold point, and Bailey did not report anything… April 18, 2024 Tuesday was interesting not only with a whole series of…Market continues to price in a plethora of […]
Last Friday the euro closed at the level of opening (the only difference was 1 point), the pound dropped 34 points. The investors closed the positions before a series of relevant US data scheduled on Monday and Tuesday. Ifo Business Climate Index in Germany in October was lower than forecast and lower the September’s figure, […]
General overview for 28/10/2013 10:00 CET Alternate count is in play, where wave c green of wave (b) blue must be finished before more downside will be in play. The price is above the Weekly Pivot and the current resistance level is at 134.87, which is in confluence with blue intraday down sloppping trend line. […]
Aussie leads as risk appetite rises Morning Report: 08.45 London • This morning, the Australian and New Zealand dollars are on the rise as risk appetite returns. The currency market’s main risk (and China) proxy is showing the most intent, up 0.45%, with the NZD/ USD up 0.37%. There was some encouraging data from China […]
USD/CAD Elliott Wave Last week, the USDCAD pair was trading upwards, five waves within corrective wave A (coloured blue) of the bigger wave [b] (coloured black) hwas developing. During Friday’s Asian and European sessions, we could observe an ascending movement from 1.0408 towards the 1.0456 level. Therefore, during the New York session this commodity pair continued trading in a […]
AUD/USD Elliott Wave Last week, the AUDUSD pair was trading downwards, three wave pullback in the (x) wave (coloured green) for the bigger wave A (coloured red) was developing. During Friday’s Asian session, we could observe an ascending movement from 0.9581 towards the 0.9623 level. Therefore, during the European and New York sessions this major pair did not […]
Gold continues to rise to new short-term highs, but we believe it is near the end of the upward move that started at 1,250. The rise seems completed, and we expect a reversal that could put the support levels at 1,300-1,280 to the test. Prices have risen in an impulsive way if we assume the […]
The Dollar index is currently in a sideways corrective phase. Prices are making overlapping patterns, and there is no sign of a clear impulsive trending move. The trend in bigger time frames may remain downward, but for the short term, prices are trendless. The decline from 80.75 could very well be completed, so for the […]
October 28th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened higher today, helped by a rally in the Asian markets as investors grew more optimistic about a likelihood that the Fed monetary measures would be persisted with, ahead of the Federal Reserve’s two-day policy meeting due tomorrow. Closer home, investors […]
Today’s Support and Resistance levels: R3: 1.6740 R2: 1.6684 R1: 1.6654 Current Spot: 1.6623 S1: 1.6559 S2: 1.6498 S3: 1.6444 Technical summary: There was no time for a correction Friday, as we continued directly higher to the next resistance at 1.6685 (we have seen 1.6684 as the high for now). However, we still think that […]
Today’s Support and Resistance levels: R3: 135.76 R2: 135.32 R1: 135.76 Current Spot: 134.72 S1: 134.52 S2: 133.88 S3: 133.60 Technical summary: We have seen a bottom at 133.88 (our target was at 133.89). The following rally is not yet the most convincing we have seen, but we will give it the benefit of our […]
Daily chart The WTI crude oil price fell to the lowest level in almost four months on Wednesday as data signaled ample supplies in the United States, the world’s largest oil consumer. The U.S. Energy Information Administration said crude supplies increased by 5.2 million barrels, to 379.8 million barrels for the week ended Oct. 18, […]
TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3872. Strong Resistance:1.3863. Original Resistance: 1.3850. Inner Sell Area: 1.3837. Target Inner Area: 1.3804. Inner Buy Area: 1.3771. Original Support: 1.3758. Strong Support: 1.3745. Breakout SELL level: 1.3736. DESCRIPTION: Today, EUR/USD has support and resistance at 1.3758 and 1.3850. The rate is accompanied by strong support at 1.3745 and […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 98.02. Resistance. 2 : 97.83. Resistance. 1 : 97.64. Support. 1 : 97.40. Support. 2 : 97.21. Support. 3 : 97.02. DESCRIPTION: Please, pay attention to the levels of support 3 (97.02) and resistance 3 (98.02). Normally, when a level is touched, USD/JPY will rebound […]
