The euro broke $1.37 as it continued the rally against the broadly weaker US dollar. Concerns about the economic impact of the US government shutdown is weighing heavily on the greenback, as expectations are growing that the Federal Reserve will delay scaling back stimulus until 2014. The Fed’s current bond buying program is dollar-negative. However […]
As the world’s second largest economy and – despite the relative slowdown – one of the fastest-growing economies in the world, China is very important for the world economy and the pace of world economic growth. China is also one of the few countries that announce quarterly growth figures so soon after the end of […]
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 […]
General overview for 18/10/2013 11:30 CET The pice has broken through DEMAND BREAKTHROUGH ZONE as it was expected in our last analysis and the level of 133.98 has been hit. Currently the price is testing the support zone at 133.82 after making wave b green high of 134.16. It looks like there is wave c […]
Gold has finished 5 waves up from the lows at 1,251, and we expect a pull back to reach 1,300-1,290. This will probably be a buy opportunity, before the next leg up we anticipate towards 1,350. The short-term downward sloping trendline was broken and we should expect a back test. Prices have support at 1,300 […]
Once our support trend line at 80.15 was broken, we noted that the downward move was looking impulsive and a new low was expected. The trend remains down with support at 79.60 and resistance at 80.35. Prices are expected to bounce towards the 50% or 61,8% retracement. A signal that could confirm this upward bounce […]
Dollar slips further despite China warnings Morning Report: 08.45 London • This morning, the dollar is extending recent losses, with stock markets making further gains despite mixed messages on the Chinese economy. • The yen pairs are generally performing well after S&P affirmed Japan’s AA – credit rating. […]
The EURJPY pair is one pair that sees significant swings and is also an instrument through which many traders express their view on risk. Risk-on conditions usually favor the euro while risk-off favors the yen. Following a double bottom on October 8 and October 9 around the 131.15 area, a strong move higher occurred, which […]
USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has been trading downwards, corrective wave .c (coloured black) of the bigger wave A (coloured blue) has been developing. Yesterday, during the Asian and European sessions, we could observe descending movements from 1.0327 towards the 1.0290 level. Therefore, during the New York session this commodity pair continued trading in a bearish mood […]
AUD/USD Elliott Wave From the beginning of the week the AUDUSD pair has been trading upwards, corrective wave (w) (coloured green) of the final [y] wave (coloured black) has been developing. Yesterday, during the Asian and European sessions, we could observe ascending movement from 0.9526 towards the 0.9600 level. Therefore, during the early New York session this major currency continued trading […]
October 18th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. Brighter session in Europe this Friday after stronger China growth data figures together with the S&P500 overnight closing at a record high. Traders on Wall Street responded with relief over the temp fix to America’s fiscal situation, kicking equity markets higher. Asian share markets […]
Overview In today’s H4 chart, the metal is still trading below the resistance level of 22.00 keeping its move above the upward trendline, and currently silver is testing the resistance level to continue its bullish movement. So we should wait for closing above this resistance area to create a new bearish opportunities. In that […]
Overview In today’s H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the resistance level of 157.80 after it was tested yesterday. Today the pair took an upward movement and managed to break the strong resistance area of 157.80, but immediately it […]
The Asian session on Friday was relatively quiet and most major currency pairs consolidated the prior day’s moves. Risk currencies rallied sharply against the US dollar on Thursday and held onto gains this morning. Weighing on the dollar are expectations that the Federal Reserve will delay tapering as a result of the 16-day US government […]
Daily chart: Yesterday, GBPUSD was completely dominated by the bulls. The pair managed to break the resistance level at 1.6046, and now it is trying to break the 1.6146 level. If the pair manages to break that level, it is expected to rise to the level of 1.6235. On the other hand, if this pair […]
Today’s Support and Resistance levels: R3: 1.6263 R2: 1.6233 R1: 1.6183 Current Spot: 1.6149 S1: 1.6115 S2: 1.6068 S3: 1.6017 Technical summary: The break above minor resistance has extended the consolidation from 1.6017 higher to 1.6173. As long as the minor support at 1.6131 and more important as support at 1.6115 holds firm, we could […]
EURUSD: This pair also moved upwards on Thursday, to a Bullish Confirmation Pattern in the chart. This means that the bias has been bullish so far in this week. The price could then go towards the resistance line of 1.3700 today or at the begining of the next week. USDCHF: As a result of the […]
Daily chart: Finally, the USDX managed to break the support at the 80.11 level, and it is now very likely to fall to the support at the 79.19 level. However, it is likely that the USDX begins to form a higher low pattern. However, there is still the possibility that the USDX conduct a bullish […]
TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3737. Strong Resistance: 1.3728. Original Resistance: 1.3715. Inner Sell Area: 1.3702. Target Inner Area: 1.3669. Inner Buy Area: 1.3636. Original Support: 1.3623. Strong Support: 1.3610. Breakout SELL level: 1.3601. DESCRIPTION: Today EUR/USD has support and resistance at 1.3623 and 1.3715. The rate is accompanied by strong support at 1.3610 […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 98.60. Resistance. 2 : 98.41. Resistance. 1 : 98.22. Support. 1 : 97.98. Support. 2 : 97.79. Support. 3 : 97.59. DESCRIPTION: Please, pay attention to the levels of support 3 (97.59) and resistance 3 (98.60). Normally, when a level is touched, USD/JPY will rebound […]
Technical outlook and chart setups: The metal has bounced off from a series of convergence as depicted in the chart. The rising trendline, the fibonacci 0.618 retracement level, the past resistance turned support. It is recommended to exit long positions for now and await for the next clarification in the wave structure. Immediate resistance is […]
Technical outlook and chart setups: The currency pair looks to be poised to print higher highs according to current wave structure. But a retracement looks to be due before rallying further ahead. It is recommended to exit long positions for now. Aggressive traders might want to go short, risk is at the 135.20 levels. Prices […]
Technical outlook and chart setups: The currency pair is holding the 1.45 levels well till now. A higher low was formed yesterday just shy of the above level. It is recommended to hold long positions for now and add the remaining at around the 1.44 levels. As depicted here, support begins from the 1.4200 levels, […]
Trading recommendations: Pair: NZD/USD Date:18/10/2013 According to the previous events, the price has still been trapped between 0.8500 and 0.8450. Long buying: Buy above 0.8300 with the first target of 0.8450, it might resume to 0.8540. Short selling: Outlook -1-: Swing trade at 0.8550 in order to sell with a traget of 0.8460. Outlook […]
Today’s Support and Resistance levels: R3: 135.05 R2: 134.55 R1: 134.10 Current Spot: 133.86 S1: 133.84 S2: 133.57 S1: 133.30 Technical summary: We have seen the expected move higher, but no acceleration, which does worry. However, as long as the minor support at 133.84 and more importantly as long as the support at 133.57 protects […]
Overview: Pair: USD/CHF. The price is probably going to form strong support at 0.9159 (below 61.8% of Fibonacci retracement levels in the H4 chart). It formed the last bearish wave for the last week, and the level of 0.9159 acts as strong resistance. Thus, it should be noted that the level of 0.9440 […]
Technical outlook and chart setups: The metal has rallied to the 1,310/20 levels as expected. It is quite possible that this rally extends to the 1,350/60 levels but after a retracement/pullback. It is, therefore, recommended to exit long positions taken earlier. Resistance levels are lined up from the 1,330.00 levels, followed by 1,350.00, 1,375.00 and […]
European markets have opened higher today, tracking gains in the Asian market as data showed acceleration in China’s economic growth. Further, renewed speculation that the US Federal Reserve might maintain its easing policy also helped market post gains. With no release of major domestic economic data during the day, investors eyed a slew of corporate […]
The US dollar continued to lose ground against most majors during late New York trading. The euro was up 0.1% against the greenback at 1.3675, hovering near the session highs of 1.3681. The market was in the process of digesting the previous day’s deal and particularly if it meant that the standoff of the last […]
Monthly Chart On the monthly chart we can see that crude oil is trying to find a major support at the level of $100.00 which corresponds to the line 4/8 d Murray. This line is considered to be a strong area of support and resistance. So since the price is still above that level and […]
