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 […]
European markets have opened higher today, tracking strong gains on Wall Street and in Asian markets, as US President Barack Obama and Republican leaders appeared ready to resolve debt impasse and prevent a possible default after meeting at the White House yesterday. Closer home, investors await the release of Conference Board’s UK leading economic index […]
The Japanese yen was the worst performing G10 currency on Thursday as an improvement in risk appetite is encouraging investors to take more risks, and thereby lessening the demand for the safe haven currencies. The US dollar strengthened for a third day against the yen, and US equity markets had a broad based rally as […]
Overview From today’s H4 chart, the metal is still trading between the Support level 21.50 and below the Resistance level 22.00 after it failed to break the Resistance level 22.30 yesterday and bounced from it to take a slightly downward move. Currently, it is approaching the Support level 21.50. Presently we suggest waiting for closing […]
Overview From the shown H4 chart, the pair failed to break the Support level 155.00 to reverse its yesterday’s downward trend and take an upward move. From the today’s H4 chart the pair bounced from the Support level and started to take an upward movement approaching the Resistance level 156.45 which is tested right […]
Overview: USD/CHF is consolidating with bullish bias after hitting a two-week high of 0.9127 Wednesday. It is supported by improved dollar sentiment, the franc sales in the buoyant EUR/CHF cross. Daily chart is positive-biased as bullish outside-day-range pattern was completed Wednesday; stochastics is rising from oversold zone; MACD staged bullish crossover against its exponential moving […]
Overview: USD/JPY is consolidating with bullish bias after hitting a four-day high of 97.65 on Wednesday. It is supported by receding investor risk aversion (S&P gained 0.06% overnight) after White House announced that Janet Yellen would be nominated to lead the Federal Reserve, weighing on the yen as her support for continued central bank stimulus […]
Overview: NZD/USD is trading in lower ranges. It is undermined by improved dollar sentiment, weaker commodity prices, Kiwi sales in the buoyant AUD/NZD cross. But the NZD/USD downside is limited by diminished risk aversion. Daily chart is mixed as MACD is bearish, but stochastics is neutral, the five-day moving average is meandering sideways. The inside-day-range […]
The Bank of England kept its key benchmark rate at 0.5% during its meeting, as well as leaving the size of its asset purchase program unchanged at 375 billion pounds. The decision was in line with market expectations and caused little movement in the British Pound. The Bank of England also maintained its forward guidance […]
Overview: GBP/JPY is trading in a range. It is supported by improved euro sentiment, waning investor risk aversion, demand from Japan importers. But GBP/JPY upside is limited by Japan exporter sales. Daily chart is mixed as MACD is bearish, but stochastics is turning bullish in oversold zone. Trading recommendation: The pair is trading below its […]
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 candlestick […]
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 witnessed […]
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 […]
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 […]
Overview: Since our last analysis, Gold has been trading sideways around the price of 1,301.00 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 the average, according to the daily […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around the price of 1.6374, we are still waiting for 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 supply bar on average volume. This is a sign […]
Overview: Key level will be set at the price of 1.0450. Range: between 1.0420 and 1.0350. The resistance for USD/CAD is set at the level of 1.0450, therefore, the bears are going to sell below 1.0450, because there is a new top at the price of 1.0450 (between 61.8% Fibonacci retracement levels and 78%). So […]
Overview: GBP/USD: The resistance has been already set at the level of 1.6090 (the weekly pivot point sets at the level of 1.6093) as well as the support has been set at 1.5840 for August 10 – 11, 2013. Therefore, according to the previous events, the price has still been trapped between 1.6000 and […]
Risk appetite is up today, helping the euro and sterling move higher against the dollar, while the safe haven yen fell against the dollar. Futures are trading higher today. The upbeat mood in markets today could be attributed to some signs of a compromise deal in the US political deadlock after news that there is […]
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 04/05/2024: EUR/USD, GBP/USD, SP500 and… April 7, 2024 We introduce you to the daily updated section of Forex…Why does the 10-year US yield remain so high? – Special… April […]
General overview for 10/10/2013 11:00 CET After making abc purple correction in shape of Irregular Flat, this pair is ready for more impulsive wave progression to the upside. The first resistance level is the descending golden trendline, just above the weekly pivot. If broken, 132.68 is in view. Please notice that intraday support level zone […]
General overview for 10/10/2013 10:45 CET Five waves impulsive advance in wave (iii) green has been finished and the price has missed by 2 pips 161%Fibo Expansion of the wave (i) green. Currently, the price is in the corrective cycle wave (iv) green and it looks like the first wave of ths correction is done […]
The Dollar index is testng intermediate-term trend resistance at 80.60-70. The upward move from the lows is impulsive and it unfolds as if there is high probability that the longer-term trend is changing and that we are in a big reversal level. Our target of reaching 80.60 has been achieved and as shown in the […]
Yesterday’s positive data on Industrial Production in Germany in August (1.4% vs. 1.1%) could not manage to constrain the press of the US dollar optimists amid the information that Barack Obama nominated Janet Yellen, the current Federal Reserve vice chairman, to succeed Ben S. Bernanke as central bank chairman. The minutes of September’s FOMC meeting […]
Gold has broken the sideways triangle downwards and fell below 1,300 reaching the 1,290 support. Now it is trading near 1,304, prices are expected to continue to move lower as resistance at 1,330 was rejected and we expect the precious metal to continue falling. Short-term support is found at 1,290,1,280, 1,270. The 1,270 price level […]
GBPUSD remains bearish below 1.6000. Price action is below the downtrend line on the 4H time frame, while the 20-period Moving Average crossed below the 50-period Moving Average, which is a bearish signal. RSI has fallen to bearish territory. However since RSI is approaching oversold levels, there is a possibility for price to make a […]
Wave analysis: As it was expected, yesterday the GBP/USD pair started trading session with downward movement and lost no more than 200 basis points and reached the level of 1.5915. Thus, it looks like the currency pair has moved to the stage of forming wave 3, or c, in terms of downward corrective structure, starting […]
EURUSD is bearish and back in a downtrend after breaking below its short-term uptrend line and fell below the 50-period moving average on the 4H time frame. Price action is currently along the lower Bollinger Band at around 1.3514. . RSI is falling towards 30 which is bearish territory. Next support level is at 1.3460 […]
USD/CAD Elliott Wave For the last few days the USDCAD pair has been trading upwards, corrective wave a (coloured blue) of the bigger wave (y) (coloured green) has been developing. Yesterday, during the Asian and European sessions we could observe ascending movements from 1.0351 towards the 1.0385 level. Therefore, during the New York session this commodity currency continued trading in […]
