AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading downwards, just like we expected, corrective wave b (coloured blue) of the bigger wave (Y) (coloured green) has been developing. During the Wednesday’s Asian and European sessions we could observe ascending movement from 0.9412 towards the 0.9463 level. Therefore, during the early New York session this pair […]
EURUSD: the greenback is strong, and that is why this pair gave way. The Williams’ % Range is in the oversold territory and the EMA 11 has crossed the EMA 56 to the downside. This is a bearish signal – it is likely that the price would reach the support line at 1.3450. USDCHF: As a […]
As part of our epic World Tour, the XM management stopped over in Bangladesh for 5 action packed days giving both us and our local representatives the opportunity to connect with partners and clients. During the visit, XM hosted a special event where it presented its new services to all attendees. This also provided partners […]
Today’s Support and Resistance levels: R3: 1.6464 R2: 1.6425 R1: 1.6398 Current Spot: 1.6347 S1: 1.6304 S2: 1.6258 S3: 1.6219 Technical summary: The messy and hard-to-read consolidation is continuing. We did see a break below support at 1.6267 yesterday, which should have caused a stronger downside pressure than we did see. We now have two […]
Today’s Support and Resistance levels: R3: 132.69 R2: 1.3236 R1: 132.18 Current Spot: 131.89 S1: 131.74 S2: 131.51 S3: 131.12 Technical summary: There is no more time left, we are at a make-it-or-break-it point. Either the triangle concept is going to hold, by breaking above 132.18 for a continuation higher towards 133.21 and 134.95 on […]
TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3586. Strong Resistance: 1.3578. Original Resistance: 1.3565. Inner Sell Area: 1.3552. Target Inner Area: 1.3520. Inner Buy Area: 1.3488. Original Support: 1.3475. Strong Support: 1.3462. Breakout SELL level: 1.3454. DESCRIPTION: Today EUR/USD has support and resistance at 1.3475 and 1.3565. The rate is accompanied by strong support at […]
The US dollar extended gains against the yen, rising for the third day as markets sentiment has improved for the currency. Investors are optimistic that a deal will be reached in the US Congress to avoid a default by the government when the debt ceiling is reached on October 17. The nomination of Janet Yellen […]
Technical outlook and trading setups: The metal has reversed ahead of the 23.00 levels producing an evening star as depicted in the chart here. It is recommended to exit long positions for now before committing further. Aggressive trading strategy would be to initiate short positions now with stop above 23.50. Intermediary resistance is at 25.00, […]
Daily chart: The USDX had a great day yesterday trending upwards, because the U.S. President Barack Obama announced the nomination of Janet Yellen to replace Ben Bernanke at the Federal Reserve Chairman’s position from 2014. The USDX manages to consolidate above support at the 80.11 level and now the USDX is trying to break the […]
Daily chart: GBPUSD had a strong fall in the session yesterday, after it had formed a higher low pattern above the support at the 1.6046 level. Now, the pair is expected to fall to the support level at 1.5883, where the bullish trendline is placed. If the pair manages to break that level, it is […]
Technical outlook and trading setups: There is no change structurally, till 1,270.00 remains intact. The metal has reversed again lower keeping the 1,350.00 resistance levels intact. It is recommended to exit long positions and initiate shorts with a stop above 1,350.00 for now (aggressive trading strategy). The conservative trading strategy would be to watch for […]
Technical outlook and chart setups: As depicted here, the currency pair is seen bouncing off the recent/immediate trendline support around the 131.00 area. It is, therefore, recommended to remain long and also initiate further positions at the moment. Till the time the trendline remains intact, the pair should head north towards the 136.00 levels. Supports […]
Technical outlook and chart setups: The currency pair is seen consolidating ahead of the 1.4450 levels as depicted here. Intermediary resistance is around 1.48, while strong resistance is at 1.50; intermediary support is at 1.42, followed by strong resistance around 1.4. Aggressive traders may wish to buy 50% of the total capacity, and the rest […]
European markets have opened higher today, amid signs of some progress to end the US budget stalemate after the US House Republicans showed willingness to consider a short-term increase in the nation’s debt-ceiling. Closer home, investors awaited the Bank of England’s monetary policy decision that is widely expected to remain unchanged, as the UK central […]
The US dollar spiked higher against the yen after the FOMC minutes released late in the US session on Wednesday. The minutes were of the last Federal Reserve policy meeting of September 17-18 and showed that most Fed policy makers said that tapering is possible before the end of this year. A reduction of the […]
Overview: USD/JPY is trading with risks skewed lower. It is undermined by selling of yen crosses and flows to safe-haven JPY amid heightened investor risk aversion (VIX fear gauge rose 4.79% to 20.34, S&P tumbled 1.23% overnight) as the budget impasse in Washington drags on for the ninth day, raising jitters over the possibility that […]
Overview: GBP/JPY is trading with risks skewed lower. it is undermined by increased investor risk aversion, Japan exporter sales. But GBP/JPY losses are tempered by demand from Japan importers. Daily chart is negative-biased as MACD and stochastics are bearish, although the latter is in oversold zone; the five-day moving average is below the 15-day MA […]
Overview: USD/CHF is trading in a range. It is supported by the franc sales in the soft CHF/JPY cross. But CHF sentiment is boosted by a 2.4% on year rise in Switzerland August retail sales. USD/CHF gains are also tempered by flows to the safe-haven franc amid increased investor risk aversion, the franc demand in […]
Overview: NZD/USD is trading in a lower range. It is undermined by Kiwi sales in the NZD/JPY cross amid increased investor risk aversion, Kiwi sales in the buoyant AUD/NZD cross. But Kiwi sentiment is boosted by New Zealand NZIER quarterly survey showing a rise in New Zealand business confidence in the third quarter to 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 […]
Sterling weakened on Wednesday after disappointing UK manufacturing production data, which raised concerns about the health of the economic recovery in the nation. According to a report released by the Office for National Statistics, the August figure was less than forecast since production fell from July. Manufacturing Production dropped by a seasonally adjusted 1.2 percent […]
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 pressure 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 […]
The overnight news that President Obama would nominate Janet Yellen to head the Federal Reserve dominated trading, pushing the dollar higher and leading to a rebound in stocks after the previous day’s sharp losses. According to analysts, although Yellen is a known dove which should in theory hurt the dollar, the fact she was the […]
Overview: Since our last analysis, Gold has been trading sideways around the price of 1,311.38 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 1.6287, 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 […]
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 […]
Our wave analysis yesterday anticipated a new short-term high above 80.15 and the Dollar index delivered according to our analysis. Prices bottomed at 79.85 and made an upward impulsive move that reached 80.35 as we foresaw. Short-term trend is upward and there is a potential to reach 80.60. Short-term resistance levels are found at 80.65-70. […]
The price action in the precious metal does not show any characteristic of an impulsive move. Gold has reached 1,330 resistance and got rejected yesterday. Prices have moved upwards in an overlapping price structure, and therefore, we see this upward move as a corrective pattern that when ends more steep downside pressures will push prices […]
