Overview: NZD/USD is trading with risks skewed lower. It is undermined by Kiwi sales in the soft NZD/JPY cross amid subdued investor risk appetite, Kiwi sales in the rebounding AUD/NZD cross, concerns that China’s economy was slowing, weaker commodity prices. But NZD/USD losses are tempered by negative dollar sentiment. Daily chart is negative-biased as stochastics […]
Technical outlook and chart setups: The currency pair seemed to find interim resistance at the 1.4700 levels yesterday. An engulfing bearish formation is underway at the moment in daily chart. It is, therefore, recommended to quit long positions now. Aggressive trade setups would be to go short with stop at the 1.4750 levels. This looks […]
Overview: USD/CHF is consolidating in a higher range after hitting one-and-a-half year low of 0.8989 Tuesday. USD/CHF is supported by the franc sales in the soft CHF/JPY cross, the franc sales in the buoyant EUR/CHF cross. But USD/CHF gains are tempered by negative dollar sentiment. Daily chart is mixed as MACD is bearish, stochastics stays […]
The U.S dollar eased lower against the yen in the Asian session on Wednesday as investors are being cautious about when the US government shutdown will end. A longer lasting shutdown will have a bigger impact on the US economy. Fed tapering will likely be postponed if the deadlock continues. Also the US jobs data […]
Today’s Support and Resistance levels: R3: 1.6561 R2: 1.6492 R1: 1.6462 Current Spot:1.6442 S1: 1.6413 S2: 1.6387 S3: 1.6346 Technical summary: We finally cleared the resistance at 1.6418. We see the wave ii end at 1.6219 and wave iii developing higher towards 1.6565 and more likely towards the S/H/S target at 1.6815. In the longer […]
Today’s Support and Resistance levels: R3: 133.48 R2: 132.98 R1: 132.62 Current Spot: 132.38 S1: 132.13 S2: 131.98 S3: 131.64 Technical summary: The correction we expected went a little deeper than the ideal of 132.25, but that does not change the overall bullish outlook. In the short term we are looking for 132.13 to protect […]
Daily chart The dollar lost positions rapidly on all fronts in Tuesday’s session as a result of internal political conflict in the United States, which left the Obama administration with no budget from the date. The Swiss franc also joined the list of currencies peaking at the 0.8990 price that had been achieved since February […]
Daily chart: The USDX has not made significant changes in the daily chart and is still forming a higher low pattern. Apparently, the bearish trend could recobar force because the USDX formed some days a fractal above resistance at the 80.62 level, which could curb future increases in the USDX. However, it is likely that […]
Daily chart: GBPUSD found resistance at the 1.6235 level and now this pair is trying to fall to the support level at 1.6146. For now, this pair is still making lower high forming a bullish pattern and the trend is still very much alive in this pair. However, the pair can manage to break the […]
European markets have opened lower today, as concerns over political uncertainties in Italy overshadowed optimism that the US government’s first shutdown in nearly two decades would be short-lived. Closer home, investors await data that is expected to reveal that UK construction PMI rose slightly to 59.2 in September from 59.1 in the previous month. Related […]
The dollar was little changed in the US session on Tuesday, remaining weak as a result of the US partial government shutdown which began today after the US Congress was unable to reach an agreement on a spending bill before the Monday deadline. Also causing concern is the upcoming October 17 deadline to raise the […]
Daily view: Price Zone 1.3515-1.3560 represents a valuable Supply zone that kept price below for almost two months. The pair is showing some bearish rejection manifested in the Daily candlesticks of previous week as well as last Monday’s bearish engulfing candlestick. However, lack of bearish follow-up was witnessed this week when the pair spiked up […]
Daily view: The cable invalidated the 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 […]
Overview: The resistance for USD/CAD is set at the level of 1.0383, therefore, the bears are going to sell below 1.0383, because there is a double top at the price of 1.0380 (61.8% Fibonacci retracement levels). So it should also be noted that the resistance is set at the level of 1.0383, thus swing trade […]
The US government shutdown was the dominant news today and the main driver of the markets. The US dollar fell as soon as the news broke early Tuesday and remained under pressure by the European session. Investors are reluctant to buy the dollar as the government shutdown would curb the economic recovery and prompt the […]
Technical outlook and chart setups There has not been much change in the metal since last few trading sessions. A tight consolidation setup is seen here, with the 22.00 levels as bullish breakout and 21.00 is seen as bearish breakout respectively. It is recommended to remain long positions taken earlier, the risk remains at the […]
Overview: Since our last analysis, Gold has been trading sideways, around the level of 1,330.00 on average 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 no supply bar on volume below the average, according to the daily chart. […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways, around the price of 1.6333, we are still waiting for more downward movements. Since the price has broken FE 261.8% (1.6276), we may expect the testing of Fibonacci RE 61.8% at the price of 1.5915. In the daily chart, we can observe neutral […]
Overview: Daily pivot point: 1.3517 EUR/USD: According to the previous events, the price has still been trapped between 1.3520 and 1.3570. Selling zone is between 1.3570 (resistance 1) and 1.3620 (resistance 2). Short selling: Swing trade at this area since sellers are asking for a High price in order to sell with a traget […]
Technical outlook and chart setups: The metal has consolidated within a tight range recently, but initial support at 1280.00 is intact. As depicted here, the metal should be poised to rally, at least, to the 1,410.00 levels, which are still resistance-faced at the back of the support line. It is recommended to remain long for […]
Technical outlook and chart setups: The currency pair has just tested the 131.50 levels, before bouncing back sharply. As shown here, the short-term support trendline has been broken and the pair has bounced off just ahead of the intermediary support trendline passing through the 131.50 area now. It is still recommended to remain long with […]
Technical outlook and chart setups: The currency pair has been consolidating lately between the 1.4550-1.4650 levels. As depicted in the chart, this area is also re-enforced by the past resistance turned support. Initial resistance is at the 1.48 levels, followed by 1.5, while initial support is at 1.42, followed by the 1.40 levels as discussed […]
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, […]
Wave analysis: Despite the efforts, during yesterday’s trading session, the GBP/USD pair did not manage to reverse from the level corresponding to the previous week’s low (1.6160) and adding more than 70 points consolidated near the level of 1.6200. Meanwhile, due to the currency pair has moved to the stated prices, the high of September […]
The major incentive was given to the euro when the Berlusconi’s People of Liberty party was split. Silvio Berlusconi withdrew his support for the nation’s five-month-old administration on September 28 and 5 ministers from his People of Liberty party quit the Cabinet. Enrico Letta defied Berlusconi’s attempts to force early elections and said he would […]
The British pound dipped briefly in a knee jerk reaction after some weak UK manufacturing sector data showing the industry growth slowed slightly in September from a two-year high the month before, driven lower by a slowdown in export orders. A report released by the Markit/CIPS showed the UK Purchasing Managers’ Index (PMI) dropped to […]
October 1st, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. Steady start for European equities despite the partial US government shutdown, the first in 17 years. On Monday, financial markets crumbled as investors booked profits on the combo of political drama in the US and Italy together with month-end and quarter-end position squaring. This […]
The impulsive move downwards finally unfolds as expected. The bearish flag and the rejections at the 80.65 resistance that we noted in the previous posts finally paid off our patience. The index fell to new lows as its major component EURUSD has made new short-term highs. The index is heading towards 79.50 and clearly the […]
Gold is trading within an upward sloping price channel, but the entire upward move from 1,304 is not impulsive. There are many overlapping price movements in this channel and the most possible scenario is that this upward move is just a correction. Strong resistance is found at 1,345 and 1,360. The support at 1,320 is […]
General overview for 01/10/2013 08:30 CET Currently, there is some indication that Running Flat wave 2 violet might be finished here and the price has developed the first wave to the upside. The alternate count, however, points out the possibility of a little more extended wave b green in the shape of Irregular Flat. So, […]
