Daily chart Light crude oil is higher after reaching lower during the previous days. Today it is having a sharp drop and reaches 200 pips so far in the trading day. This happened after it was trying unsuccessfully to violate 103.13 area, where the line 2/8 (red line) is located. At this point, quoted under […]
Daily chart After three days of the continuous upward move, today the Swiss Franc is recovering against the dollar and has already advanced almost 40 pips from the market opening. It happend after the price reached the weekly resistance zone (R-1). On the other hand, to be below the line of 1/8 (yellow line) located […]
Overview According to our yesterday’s expections, the price’s close below the Support level of 21.50 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Support level to trade below and open the way towards 21.70 as the first target, then the metal must test the Support […]
Three 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 last week’s movement as the reclosure below it enabled the […]
Daily view: Price Zone of 1.3515-1.3560 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 of the previous weeks as well as seen on October 1 bearish inverted hammer daily candlestick. However, lack of bearish follow-up was […]
Daily view: The cable invalidated the previous reversal Head-and-Shoulders pattern maintaining quite strong bullish momentum to the upside. Daily closure above 1.5719 (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 pair expressed a bearish Harami daily […]
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 was able to break through 1.5720, which corresponds to the August highest level and the […]
Overview: USD/JPY is consolidating with bullish bias after hitting an eight-day high of 98.33 this morning. It is underpinned by reduced safe-haven appeal of the yen and yen-funded carry trades amid positive investor risk appetite (VIX fear gauge fell 15.92% to 16.48; S&P surged 2.18% overnight) and positive dollar sentiment (ICE spot dollar index last […]
The euro was the main beneficiary of today’s European session, as the outcome of negotiations between Republicans and Democrats to resolve the debt ceiling and fund the US government, was unclear. During the previous day, President Obama had a 90-minute meeting with congressional leaders, during which the Republican leadership presented a proposal to extend the […]
Overview: USD/CHF is consolidating with bullish bias after hitting a two-week high of 0.9131 Thursday. It is supported by positive dollar sentiment, reduced safe-haven appeal of the franc amid positive investor risk appetite, the franc sales in the buoyant EUR/CHF cross. But USD/CHF gains are tempered by CHF demand in the buoyant CHF/JPY cross, positions […]
Overview: NZD/USD is trading on higher range. It is supported by Kiwi demand in the NZD/JPY cross amid positive investor risk appetite, firmer commodity prices. But NZD/USD upside is limited by positive dollar sentiment, Kiwi sales in the buoyant AUD/NZD cross, positions adjustment before U.S. long weekend. Daily chart is mixed as MACD is bearish, […]
Overview: Since our last analysis, Gold has been trading downwards movements, as like we expected, the price tested level of 1,282.00 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 lack of demand on volume just below […]
Overview: GBP/JPY is consolidating with bullish bias. It is supported by positive investor risk appetite, demand from Japan importers. But GBP/JPY upside is limited by Japan exporter sales, positions adjustment before long weekend in U.S. and Japan. Daily chart is mixed as MACD is bearish, but stochastics is rising from oversold area. Trading recommendations: The […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around the price of 1.6265, we are still waiting for more downward […]
The Dollar index is most probably rising in an impulsive pattern. We believe that the current wave formation is as shown in the chart below. The index is currently in wave 4 and we expect a new upward move to new short-term highs as wave 5. The wave count as shown above will be canceled […]
Gold remains in downtrend after breaking the sideways triangle. We remain short as prices have broken below 1,300 and the support level of 1,290. Next short-term support is found at 1,270. This level also coincides with the neckline of the Head-and-Shoulders pattern. The trend remains downward, as long as prices trade below 1,325. The recent […]
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 19, 2024 April 19, 2024 Potential for the further drop on NAS100The material has been…Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision… April 19, […]
General overview for 11/10/2013 09:15 CET Both of yesterday’s targets has been hit and the pair is trading according to the wave progression. Some smaller degree corrective cycle is expected now, but 132.95 should provide the support. Judging by the smaller time frame wave progression, the anticipated shape of this correction is a Triangle formation. […]
Wave analysis: It looks like, the yesterday’s retreat from the level 1.5915, the GBP/USD pair has completed formation of the five-wave structure of the assumed third wave, or c, in terms of downward correction which started its development from the highs of October 1-2. Thus, the currency pair has a chance to resume upward movement […]
General overview for 11/10/2013 09:00 CET This pair is still in corrective cycle and it starts to look like a ZigZag. One-to-One equal legs measurement for the ZigZag correction is in the chart, and it indicates that the level of 1.0361 might be tested again. However, I have now an alternate count that is slightly […]
EURUSD: This pair has been characterized by indecision, though things look a little bearish. This is because the price did not closed above the EMA 56, and the Williams’ % Range is still close to the oversold area. With the resumption of the bearish move, the price could reach the support line at 1.3450. USDCHF: […]
GBPJPY is in a strong uptrend. On the Hourly Chart the pair is advancing within a rising channel. After breaking the key level of 157.00 in the Asian trading session on Friday, the pair gained momentum to rise to a high of 157.50. The pair has since been consolidating around this level, currently bouncing off […]
Data on Europe continues to be weak. Industrial Production in France in August grew 0.2% vs. forecast for 0.7%. Italy’s Industrial Production dropped 0.3% vs. forecast for 0.6%. During yesterday’s speech, Mario Draghi tried to be neutral; however, amid weakening economic indicators he was forced to admit the perspectives of further deterioration of the economic […]
The US dollar continued the rally in the Asian session on Friday, as investors there also rode on the optimism of a debt deal in the US. Political headlines are dominating market moves in recent days and the main driver of the USD especially due to a lack of US economic data amid the US […]
Daily chart: GBPUSD is trying to form a higher low pattern and for now, this pair has not touched the support at the 1.5883 level, where the bullish trendline is placed. This pair is likely to rise to the resistance level at 1.6046, and if the pair manages to break that level, it is expected […]
Overview: AUD/USD: According to the previous events, the price has still been trapped between 0.9460 and 0.9425. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bullish signs. In other words, it will be a good sign to buy […]
Overview: USD/CHF: The price is probably going to form a strong support at 0.8970 (above 00% of Fibonacci retracement levels in the daily chart, it has formed the last bearish wave for the last week and the level of 0.8970 acts as strong support, as well as it should notice that the double bottom […]
Today’s Support and Resistance levels: R3: 134.60 R2: 134.03 R1: 133.69 Ideal red wave iii of i target (not shown in the chart) Current Spot: 133.33 S1: 133.11 S2: 132.75 S3: 132.46 Technical summary: As we said yesterday, there was no time left and some kind of resolution was expected. We certainly got that. The […]
Today’s Support and Resistance levels: R3: 1.6469 R2: 1.6406 R1: 1.6356 Current Spot: 1.6298 S1: 1.6258 S2: 1.6219 S3: 1.6173 Technical summary: We saw a test of strong short-term resistance at 1.6405 (the high was at 1.6406) yesterday, and it is currently heading to the important neckline support near 1.6233. A break below the neckline […]
TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3592. Strong Resistance: 1.3584. Original Resistance: 1.3571. Inner Sell Area: 1.3558. Target Inner Area: 1.3526. Inner Buy Area: 1.3494. Original Support: 1.3481. Strong Support: 1.3468. Breakout SELL level: 1.3460. DESCRIPTION: Today EUR/USD has support and resistance at 1.3481 and 1.3571. The rate is accompanied by strong support at 1.3468 […]
