Overview: GBP/JPY is consolidating with bullish bias. It is supported by positive investor risk appetite, demand from Japan importers. But GBP/JPY gains are tempered by Japan exporter sales. Daily chart is positive-biased as stochastics is bullish; MACD staged bullish crossover against its exponential moving average; the five-day moving average is rising above the 15-day MA. […]
Overview: NZD/USD is consolidating with bullish bias after hitting a near-three-week high of 0.8380 Monday. It is supported by Kiwi demand in the NZD/JPY cross amid positive investor risk appetite, Kiwi demand in the soft EUR/NZD and GBP/NZD crosses. But NZD/USD upside is limited by improved dollar sentiment. Daily chart is mixed as MACD is […]
OvervieW: USD/CHF is trading with risks skewed higher. The pair is supported by improved dollar sentiment, reduced safe-haven appeal of the franc amid positive investor risk appetite. But USD/CHF gains are tempered by the franc demand in the buoyant CHF/JPY cross. Daily chart is positive-biased as MACD & stochastics are bullish, the five-day moving […]
Aussie boost on rate outlook Morning Report: 08.45 London • This morning, the Australian dollar is on the rise after the release of the minutes from the last RBA meeting which indicated that a rate cut was not imminent. The AUD/USD is up 0.43%, with the NZD/USD riding on its coat tails, up 0.35%. […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested level of 1,255.00 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 supply on volume above the average, according to the […]
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:Video market update for April 05, 2024 April 7, 2024 Potential for the further drop on NAS100 ….The material has…Why is gold defying gravity? – Special Report April 7, 2024 Gold […]
Gold is moving downwards in an impulsive pattern. We mentioned yesterday that prices were back testing the broken support neckline and that soon selling pressures would come back. The upward move from 1,264 to 1,289 was corrective as explained yesterday as the overlapping pattern suggested so. Today new lows are made towards 1,258 as expected. […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards,as we expected, the price tested the level of 1.6130 on high volume. 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 that […]
Although the dollar index has overlapped the wave 1 high and canceled the wave 4 count, we now turn to another bullish alternative that implies that another wave 1 and 2 are finished, but they are of lower degree. The bullish potential of this wave count is even bigger than the previous wave count. The […]
General overview for 15/10/2013 09:15 CET Due to the fact that the main count is almost invalidated let us take a look at alternate count on a higher time frame today. H4 time frame shows a possibillity of three wave movement to the upside that seems to be a part of a larger pull back […]
EURUSD: EURUSD moved indecisively yesterday, whereas the bullish signal is still valid (given the position of the indicators). The resistance line at 1.3600 would soon be broken to the upside, because when a breakout does occur, it would be in favor of the bulls. USDCHF: Oddly enough, the signal on this pair is also bullish. The […]
USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has been trading downwards, corrective wave .y (coloured black) of the bigger wave b (coloured blue) has been developing. During Monday’s European session we could observe descending movements from 1.0369 towards the 1.0340 level.Therefore, during the early New York session this commodity pair did not manage to hold this levels […]
AUD/USD Elliott Wave Since our last analyses, the AUDUSD pair has been trading upwards, just like we expected, final .C wave (coloured balck) of the bigger wave Y (coloured blue) has been developing. Yesterday, during the Asian and European sessions, we could observe ascending movements from 0.9425 towards the 0.9483 level. Therefore, during the New York session this major pair continued […]
General overview for 15.10.2013 09:00 CET Green wave b almost hit the target zone of the grey rectangle, but it got rejected at 133.82 and now the price is in the last stage of Irregular Flat correction. This last wave downwards should develop in five impulsive waves. The targets for this wave are 133.02 and […]
The dollar marked a 2-week high against the yen on Tuesday, but traded in the middle of its range of the last 4 months or so. The dollar bounced strongly off the 96.50 area and it will be interesting how high this bounce can lead to. The RSI is at 51, which represents a neutral […]
October 15th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets opened higher today, mirroring gains in the US and Asian equity markets, amid indication that the US lawmakers might soon reach a deal to increase debt limit and put an end to the partial Government shutdown. Closer home, investors await the release […]
The US dollar remained mostly strong during the Asian session, although market participants were reluctant to push it higher on fears that optimism about a deal in Washington could wane and that a compromise would only be a short-term fix. Furthermore, there were doubts whether any potential deal struck in the Senate would satisfy the […]
Daily chart: The USDX is trying to fall to the support level at 80.11. Recall that the USDX formed a fractal near the resistance at the 80.62 level and it is very likely that this pair begins to strengthen the bearish trend. If the USDX achieves in breaking the support at the 80.11 level, it […]
Daily chart: GBPUSD has moved slowly in the last hours. This pair is trying to respect the bullish trendline. But any breakout at that trendline could accelerate the fall of this pair to the support at the 1.5883 level. On the other hand, if the pair manages to break the resistance at the 1.6046 level, […]
Today’s Support and Resistance levels: R3: 1.6274 R2: 1.6238 R1: 1.6198 Current Spot: 1.6161 S1: 1.6117 S2: 1.6071 S3: 1.6024 Technical summary: The sideways consolidation was finally resolved with a break below the support at 1.6219. The break below important support at 1.6219 has triggered a S/H/S formation calling for a continuation lower towards […]
Technical outlook and chart setups: The currency pair bounced off the trendline support at 131.00 lately. Immediate support is at the 128.00/129.00 levels followed by 126.00 and lower. It is recommended to book partial profits on long positions taken earlier and buy further on dips ahead of the 131.00 levels. The extensions are pointing at […]
Today’s Support and Resistance levels: R3: 134.59 R2: 134.30 R1: 134.00 – Ideal target for red wave v Current Spot: 133.59 S1: 133.35 – Important support. A break below here indicates that wave i of iii is done. S2: 133.03 S3: 132.79 Technical summary Red wave iv ended early and only corrected 23.6% of […]
Technical outlook and chart setups: The currency pair seems to be consolidating at the moment, before the next rally upwards. As depicted here, 1.44 remains the best buy as the 0.618 fibonacci support and trendline convergences are seen there. It is recommended to hold long positions taken earlier for now. Intermediary resistance is seen at […]
Forecast: (short term) EUR/USD: It should be noted that we got a weekly pivot point at the level of 1.3545. In addition, a gap has opened above the weekly pivot point. Therefore, the market will probably indicate a bearish opportunity at the level of 1.3605 and the gap will act as strong resistance at […]
Trading recommendations: Pair:NZD/USD Date:15/10/2013 According to the previous events, the price has still been trapped between 0.8340 and 0.8385. Long buying: Buy above 0.8200 with the first target of 0.8388, it might resume to 0.8445. Short selling: Outlook -1-: Swing trade at 0.8465 in order to sell with a traget of 0.8325. Outlook -2-: The […]
European markets opened higher today, mirroring gains in the US and Asian equity markets, amid indication that the US lawmakers might soon reach a deal to increase debt limit and put an end to the partial Government shutdown. Closer home, investors await the release of UK consumer prices, producer prices and retail prices data, due […]
Important progress has been made on the US debt ceiling negotiations and markets are Day 14 and just 4 days away from the debt ceiling deadline. US Senator Harry Reid said today in reference to the talks in Congress that “We’re getting closer” to debt limit and anti-shutdown deal.” He added: “I’m very optimistic we’ll […]
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Overview As it is seen from today’s H4 chart, the metal is stabilizing above the Support level of 21.20 after its failure to break the Support level of 20.90 last week. Currently, we should wait for retesting of the Support level again and closing below it to get the bearish move opportunity. In that […]
Overview As shown on today’s H4 chart, the pair has opened this week below the Resistance level of 157.45 which means the pair will almost reverse its bullish move this week. Today, the pair has already started its downward move after it had hit the Resistance level of 157.45 and bounced from it to […]
