TODAY’s TECHNICAL LEVELS: Resistance. 3 : 97.80. Resistance. 2 : 97.61. Resistance. 1 : 97.42. Support. 1 : 97.18. Support. 2 : 96.99. Support. 3 : 96.79. DESCRIPTION: Please, pay attention to the levels of support 3 (96.79) and resistance 3 (97.80). Normally, when a level is touched, USD/JPY will rebound from […]
Technical outlook and chart setups: Perhaps, Gold needs to retrace now. As depicted here, the levels of interest are 1,300-1,285. It is recommended to initiate long positions around 1,285.00, which is confluence of the following: 1. Fibonacci 0.618 support, retracement level. 2. Backside of the resistance line, which provides support now. 3. A possible right […]
TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3848. Strong Resistance: 1.3839. Original Resistance: 1.3826. Inner Sell Area: 1.3813. Target Inner Area: 1.3780. Inner Buy Area: 1.3747. Original Support: 1.3734. Strong Support: 1.3721. Breakout SELL level: 1.3712. DESCRIPTION: Today EUR/USD has support and resistance at 1.3734 and 1.3826. The rate is accompanied by strong support at […]
Technical outlook and chart setups: The currency pair is around the fibonacci 0.618 mark at 1.44, as expected earlier. It is likely to produce a bullish reversal here; hence it is recommended to hold long positions and also look to add further at the current levels. The immediate support is at 1.42, followed by 1.4075 […]
European markets have opened higher today, as investors awaited a slew of earnings releases from several UK and European corporations. Further, a private data indicating improvement in Chinese manufacturing activities also added to investors’ optimism. Closer home, investors await the release of the CBI’s industrial orders trends survey data, due later in the day. Related […]
The dollar found itself on the defensive again in New York trading, as the reaction to yesterday’s dollar selloff seemed to peter out. In a session with little news for traders to react to, the euro gained 0.18% to trade at 1.3779. During the session, traders tried to push the euro past its earlier high […]
Daily chart The Greenback fell sharply against its counterparts yesterday after a weak NFP report supported the idea of no Fed taper this year. EUR/USD and GBP/USD popped higher, while USD/CHF dropped to a two-year low. It was not a good day for Uncle Sam yesterday as the delayed September NFP numbers disappointed the […]
Overview From the today’s H4 chart, yesterday’s closing below the resistance level 159.50 gave the price an opportunity for a bearish move after specially after breaking the upward trend line. As shown here, currently the price is trying to continue its bearish move by breaking the support level 156.70 which is tested now. In that […]
Overview Based on the H4 chart above, silver is still stabilizing above the the Support 22.50 after its rebound from the Resistance level 22.80 yesterday. If silver continues its bearish move and manages to break the Support level 22.50 after closing below the upward trend line, it will produce a strong indicator for the […]
Overview: USD/JPY is trading with risks skewed lower. The rate is undermined by negative dollar sentiment (ICE spot dollar index hit near-nine-month low 79.182 overnight; last 79.26 versus 79.69 early Tuesday) as expectations for the Federal Reserve to start tapering its $85-billion-a-month bond-purchase program were pushed back further to 2014 after smaller-than-expected 148,000 increase in […]
Overview: NZD/USD is consolidating with bearish bias after hitting near-six-month high 0.8543 on Tuesday. NZD/USD is supported by negative dollar sentiment; Kiwi demand on NZD/JPY cross amid positive risk appetite; firmer commodity prices; Kiwi demand on retreating AUD/NZD cross and on buoyant NZD/CAD cross. But NZD/USD gains are tempered by Kiwi sales on buoyant EUR/NZD […]
Weekly chart Yesterday crude oil continued slipping below $100 per barrel after the previous day’s data showed that oil supplies increased last week. The American Petroleum Institute reported an increase of 3 million barrels for the week ended October 18, 2013. Technically, the weekly chart shows Crude Oil is below line 8/8 and is […]
Overview: USD/CHF is consolidating with bearish bias after hitting a 20-month low of 0.8937 Tuesday. USD/CHF is undermined by negative dollar sentiment; the franc demand in the buoyant CHF/JPY cross; the franc demand in the soft GBP/CHF, AUD/CHF and CAD/CHF crosses. Daily chart is negative-biased as stochastics is bearish; MACD histogram bars turned negative; the […]
Overview: GBP/JPY is consolidating with bearish bias. EUR/JPY is supported by positive investor risk sentiment; demand from Japan importers. But GBP/JPY gains are tempered by Japan exporter sales. Daily chart is positive-biased as MACD & stochastics are bullish, although the latter is at overbought; the 5-day moving average is above the 15-day MA and advancing. […]
Overview: Since our last analysis, Gold has been trading sideways, the price tested the level of 1,343.00 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 […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, the price tested 1.6452 on ultra high volume and made bullish corrective phase; we are still expecting 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 no demand […]
NZD/USD: History will repeat again Trading recommendations: According to the previous events, the price is still between the levels of 0.8435 and 0.8377. The descending movement will probably be lower than the 0.8560 level with the first target at 0.8450 and 0.8380, then the trend will form a double bottom at the price of 0.8300 […]
Forecast: (short-term) EUR/USD: It should be noted that we got a weekly pivot point at the level of 1.3621. In addition, a tiny gap has opened above the weekly pivot point. Therefore, the market will probably indicate a bearish opportunity at the level of 1.3780 and the weekly pivot point will act as strong […]
On Wednesday the market was still coping with the aftershocks of the previous day’s weak employment report in the United States. Having posted fresh two-year and four-year highs against the dollar and the yen respectively, the euro pulled back. It lost 0.14% against the dollar to trade at 1.3753, while against the yen is was […]
The country of Malaysia was the latest host to the XM management team during its epic world tour. During the visit, the management and the XM Malaysia Team visited Kuala Lumpur, Johor Bahru, and Penang where they met with many clients and established many new partnerships with IBs in the region. The XM management and […]
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 […]
EURUSD: There has been some minor retracement in the market as it was trending upwards. The bullish bias is still a valid thing and it is expected that the price would not trade below the support line at 1.3600, which is a long term barrier to the bearish threats in the markets. USDCHF: In USDCHF, […]
After weak data on US Nonfarm Payrolls in September the euro and the pound moved counterintuitively, the euro rose 100 points and the pound added 90 points. After fluctuations the yen closed the day at the opening level. The biggest banks Goldman Sachs and Barclays said that now QE3 could be expected only in March. […]
The Dollar index ended its upward corrective move yesterday and broke below the short-term trendline. A new low came as expected after the downward break of the support trendline. The trend remains downward. The index continues to make lower lows and lower highs, and the slope of the Moving averages remains neagative supporting our bearish […]
Gold continues to make higher highs and higher lows after bottoming at 1,250. The current price action confirms that the trend is upward. Below we post our two most possible short-term wave counts. The red alternative count is the more bullish one. Breaking above 1,343 will put the alternative as our first choice. Our current […]
In arguably the most important economic news of every month, the headline number of the number of jobs created in the US during September was less than expected. Specifically, 148 thousand jobs were created against expectations of a gain of 185 thousand. Revisions to the previous months’ releases were also important, with the downwardly revised […]
October 22nd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened lower today, as growing concerns over rising bad loans in China’s biggest banks and data showing a surge in China’s benchmark money-market rate, overshadowed optimism that the US Federal Reserve might maintain its stimulus measures for an extended period of […]
Markets slip after NFP melt up Morning Report: 08.45 London • Yesterday, there were a few puzzled faces as markets ‘melted’ up on disappointing Non Farm Payrolls. This morning reality has crept in with markets on the back foot, a move further fuelled by China concerns. • The Antipodean currencies of the Australian and New […]
General overview for 23/10/2013 09:15 CET So far the anticipated upside movement is slowly in progress, two waves to the upside are missing . The overall shape of this pattern wolud be abc green Irregular Flat and then some downside movemend is expected to finish the bigger cycle wave C green. The alternate count is […]
General overview for 23/10/2013 09:00 CET Yesterday’s level of 134.56 did not hold as a top for wave X brown and after NFP extension went up just to go lower in the overnight trade. This count still indicates a very large WXY brown corrective wave (ii) green possibility and a shape of this correction is […]
