Overview: NZD/USD is trading in a lower range. It is undermined by contagion from the weaker Aussie; concerns about banking system liquidity in China; positions adjustment before the U.S. FOMC monetary policy decision Wednesday. But NZD/USD downside is limited by the Kiwi demand in the retreating AUD/NZD cross; Federal Reserve’s ultra-loose monetary policy. Daily chart […]
NZD/USD: Trading recommendations: According to the previous events, the price is still between the levels of 0.8288 and 0.8377. The descending movement will probably be lower than the 0.8340 level with the first target at 0.8255 and 0.8225, then the trend will form a double bottom at the price of 0.8194 (Daily chart). Buy deals […]
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, Gold has been trading sideways, around the level of 1,345.00 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 that Gold […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, the price broke the previous high at 1.6510, tested 1.6686 on 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 […]
The strength in the US dollar exhibited today shows that market participants expect that the Federal Reserve will be continuing with ultra loose monetary policy and maintain its current pace of bond purchases. The FOMC begins a two-day policy meeting today and will announce its policy decision tomorrow. Many investors will be closely watching for […]
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 04/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin… April 9, 2024 We introduce you to the daily updated section of Forex…Video market update for April 09, 2024 April 9, 2024 Potential […]
Yesterday, we noted how increased was the probability to see an upward bounce in the Dollar index. Short-term resistance was broken and prices are starting to make an upward bounce towards the next resistance level at 79.85-95. Short-term resistance is found at 79.70 and then at 79.85. Short-term support is found at 79.30 and 79.15. […]
Gold has broken down as expected by our last analysis ending diagonal pattern, and we now expect prices to make a retracement of the entire rise from 1,250. Prices are expected to move at least towards the 38% Fibonacci retracement which is at 1,318. Short-term support is found at 1,334 and then at 1,318 (our […]
General overview for 29/10/2013 09:00 CET Yesterday, Irregular Flat correction that should end somewhere into SUPPLY zone did not materialse, and the high of this move up was labeled as wave c green. Currently, the wave progression is far from impulsive, so it looks like a Triangle formation in wave (b) navy will be formed, […]
On Monday data on US Industrial production in September surpassed the expectations and the US dollar strengthened. US Capacity Utilization was 78.3% vs. forecast for 78.1% and August’s figure was revised upwardly from 77.8 to 77.9%. US Industrial Production rose 0.6% vs. forecast for 0.5% and 0.4% in August. The euro fell 23 points, the […]
China relieves concerns, but Aussie still dips Morning Report: 08.45 London • Overnight Chinese officials injected liquidity into their stressed system, relieving some pressure, but the Australian and New Zealand dollars are still falling this morning. This comes after comments from the RBA governor that implied that the Aussie was on the watch list for […]
On the longer term weekly chart the EURJPY uptrend remains intact, supported by a stronger euro and broad yen weakness. The main driver of the EURJPY pair will be the Bank of Japan policy announcement expected on Thursday. Today the pair appears to be taking a pause from its upward momentum, trading in a 40-pip […]
General overview for 29/10/2013 08:30 CET Yesterday’s price oscilating around Daily Pivot did not provide any further clues about a possible wave progression. The count that fits the best so far is a Triangle pattern in wave 4 navy, and when it will be finished – wave 5 upside breakout. Choppy and overlaping price action […]
USD/CAD Elliott Wave Since our last analyses the USDCAD pair has been trading sideways, corrective wave .iv (coloured black) of the bigger wave A (coloured blue) has been developing.Yesterday, during the Asian session, we could observe descending movements from 1.0450 towards the 1.0427 level and with that move we ended the first leg of the wave .iv (coloured […]
AUD/USD Elliott Wave Since our last analyses, the AUDUSD pair has continued trading downwards, corrective wave (c) (coloured blue) of the bigger wave (x) (coloured green) has been developing. During Monday’s Asian session, we could observe an ascending movement from 0.9583 towards the 0.9621 level. Therefore, during the European and New York sessions, this currency pair did not […]
EURUSD: It would behoove one to seek a short trade in this market, perhaps setting a Buy Limit order at the support line of 1.3750. This is because the bias on the market is bullish, and the Williams’ % Range forage into the oversold area is an excellent opportunity for astute speculators to go long, […]
The biggest mover in the Asian session was the Australian dollar which fell after Reserve Bank of Australia Governor Glenn Stevens suggested the Australian currency was overvalued. He said the currency will probably be “materially lower” in the future. The aussie declined 0.5% versus the greenback to end the session at 0.9518, after having reached […]
Today’s Support and Resistance levels: R3: 1.6800 R2: 1.6736 R1: 1.6684 Current Spot: 1.6662 S1: 1.6617 S2: 1.6559 S3: 1.6498 Technical summary: Important short-term support at 1.6559 held firmly yesterday and protected the downside for a new rally towards the top at 1.6684. We are still looking for a break below 1.6559 to confirm a […]
Today’s Support and Resistance levels: R3: 135.32 R2: 134.96 R1: 134.65 Current Spot: 134.40 S1: 134.29 S2: 133.88 S3: 133.60 Technical summary: We have not seen much action since yesterday and most of that action has been towards the downside. We have seen a break below minor support at 134.52 (the low of 134.29), but […]
Daily chart USD/CHF, during the first day of trading, managed to overcome the daily pivot line at 0.8953, and currently it is trading at 0.8962 with a high probability to continue the ascending until its next resistance at 0.9033, where the line of 2/8 Murrey lines. However, since in the forex market, there is no […]
Technical outlook and chart setups: The metal is poised to retrace further to the 21.00/20 levels. It is recommended to refrain from buying at the current levels and allow retracement to materialize. The 21.00 area is confluence of the falling downtrend line, which is acting as support, the fibonacci 0.618 retracement level and a potential […]
Technical outlook and chart setups: A short term view has been depicted here for a closer look into the waves. The currency pair has halted its retracement at the fibonacci 0.618 support levels of 1.44, as depicted here. It is extremely likely that a rally from here should take off any moment now. Hence, it […]
We predict the EUR/USD price action will move in a tight range, because all the market participants are now waiting for the Fed’s meeting next Thursday. Please be wise and careful with your trade during the FOMC meeting in a few days again. TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3857. Strong Resistance:1.3848. Original Resistance: 1.3835. […]
Daily chart: The USDX is conducting a bullish rebound at the support level of 79.19. This could be the formation of a higher low pattern. If the USDX manages to break that level, it is expected to fall to the level of 78.12. On the other hand, if the USDX fails to make a full […]
Technical outlook and chart setups: The currency pair still needs to retrace at least to the 132.00 levels from here on. As depicted here, prices have fallen back from the highs of 135.50 lately and bounced off the 0.382 retracement levels till now. A meaningful correction towards fibonacci 0.618 levels still remains possible at 132.00, […]
During next Thursday when the FOMC meeting, the market will move in a tight range, because many market participants will be waiting what the Fed’s will announce. Some of economists say the Fed’s will clear where the investment will go in the futures, so please be careful and be wise with your trade. TODAY’s TECHNICAL […]
Daily chart: GBPUSD had a fall below the resistance level at 1.6146. If the pair manages to break the support at the 1.6046 level, it is expected to fall to the level of 1.5883, which would usher in a strong bearish trend. Moreover, it is likely that this pair will start forming a higher low […]
Technical outlook and chart setups: Gold should be on the verge of a retracement now. Please refrain from long positions at the current levels. The metal needs to correct towards the 1,280-1,300 levels first, before rallying towards fresh highs. The longer-term structure might be unfolding as favoured to the bulls if 1,250.00 holds from here […]
European markets have opened mostly lower today, amid cautious trading, before the US Fed concludes its two-day monetary policy meeting tomorrow, and as investors eyed corporate earnings updates from several European corporations, due today. Closer home, investors awaited UK consumer credit, M-4 money supply and mortgage approvals data, due later in the day. Related Posts:Fed […]
