Technical outlook and chart setups: As it is seen here, the metal has recently bounced off the 0.618 support region at 1,277.00 recently. The past support of 1,270.00 remains intact as well. It is, therefore, recommended to remain long in the counter with stop at 1,270.00. Also note that resistances are lined up from 1,350.00 […]
Technical outlook and chart setups: The currency pair has bounced off right at the trendline passing around the 131.40 mark, just within the 131.50 area. If stopped out, it is recommended to remain long again, with a stop of 131.10/20 again. The following convergences can be seen occurring here: 1. Rising trendline bounce. 2. Fibonacci […]
Technical outlook and chart setups: The currency pair has broken the past 1.4550 levels, as depicted in Daily chart. It is recommended to remain short with risk above the 1.47 levels. Immediate resistance is now at 1.47, followed by 1.48 and 1.5; while support levels are 1.4200, and 1.4 respectively. As it is seen here, […]
Overview: Key level will be set at the price of 1.0380. Range: between 1.0375 and 1.0235. The resistance for USD/CAD is set at the level of 1.0380, therefore, the bears are going to sell below 1.0380, because there is a double top at the price of 1.0380 (61.8% Fibonacci retracement levels). So it should also […]
Overview: The NZD/USD pair will continue moving straight from the level of 0.8200 (at H1 chart 00% of Fibonacci retracement levels: 0.8216), additionally it is probably going to form a double bottom. Therefore, the Kiwi is showing the signs of strength following the break of the highest level of 0.8216. Thus, it will be […]
European markets have opened mixed today, as investors grew concerned that Washington’s budget deadlock and its failure to raise debt limit ceiling might impact the world’s biggest economy. With no release of major domestic economic data during the day, investors await the release of Eurozone producer prices data and speeches from several US Federal Reserve […]
The dollar weakened further in the US session on Thursday after US data showed growth in the services sector fell in September as the pace of new orders dipped and hiring declined. Along with the disappointing data, investors are concerned that the US shutdown has entered its third day and there does not seem to […]
Strong bullish sentiment was found in 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 trough 1.5720 which corresponds to August’s highest level and the recently […]
Daily view: Price Zone 1.3515-1.3560 represents a valuable Supply zone that kept price below for almost two months. The pair was showing some bearish rejection manifested in the Daily candlesticks of previous week as well as yesterday’s bearish inverted hammer daily candlestick. However, lack of bearish follow-up was witnessed this week when the pair spiked […]
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 […]
Three months ago, a prominent bottom was established around 1.0260. This happened after the pair broke down a consolidation range between 1.0450-1.0560, which 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 re-closure below it enabled […]
The Swiss Franc in daily chart is in a strong support area, there is at the Fractal of 0.90 below the 2/8 from the line of Murray, the fact that the U.S. dollar is weak, the traders are waiting for the outcome of political debates about budgets and U.S. debt. On the other hand, the […]
The dollar dropped against the yen and against the euro after US economic data showed the ISM non-manufacturing PMI index fell to 54.4 in September, from 58.6. The decline was more than the forecast of 57.4 and prior 58.6. Also, the employment component of ISM fell to 52.7 from 57, the lowest since May. The […]
Overview: Since our last analysis, Gold has been trading sideways, around the price of 1,302,38 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 demand bar on volume just above the average, according to the daily chart. […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downward movements, the price tested the level of 1.6273 on high volume. 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 […]
The Light Sweet Crude accumulated three weeks consecutive fall in weekly chart due to the fact that investors were relieved after tensions over Syria and Iran diminished and improved oil supplies from Libya, these data pressured the low to oil, but found support in the area of 101.01; now, the weekly candle suggests we could […]
The euro remains above the key $1.36 level on Thursday, close to an eight-month high after being boosted by stronger than expected Euro zone retail sales data. The seasonally adjusted volume of retail trade increased by 0.7 per cent in August, significantly higher than the 0.2 per cent boost forecast by analysts and up from […]
Overview: Resistance: 1.3625 Support: 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). It is of the wisdom to swing trade at this area since sellers are asking for a High price in order to […]
Overview: AUD/USD: According to the previous events, the price has still been trapped between 0.9380 and 0.9420. 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 […]
EURUSD: In spite of all odds, EURUSD has been able to continue its bullish move. It is now trading above the support level of 1.3600. Generally, more fundamental figures are expected today, and they would cause further volatility in the markets. Going above the aforementioned support level, the price could end up reaching the resistance […]
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 24, 2024 April 24, 2024 Potential for the downside movement on the NAS100The material has…Forex forecast 04/24/2024: EUR/USD, USD/CAD, Oil and Bitcoin… April 24, 2024 We […]
On October 2, Italian Prime Minister Enrico Letta headed toward victory in a confidence vote, as some lawmakers from rival Silvio Berlusconi’s party said they would support his government. The outcome was the following one, 229 were pro and 70 were con. During the press conference Mario Draghi said that the decline of the ECB […]
General overview for 03/10/2013 10:00 CET I have slightly changed the count and now it is overall a little more bullish: higher degree cycle wave 1 green and 2 green are now in place of lower degree waves (i) and (ii) green. In bullish scenario first level to watch is 1.0335 and then 1.0350 because […]
Our analysis for the last few days has noted that the trend remains downward and unless a break above the 80.65 resistance is made, new lows towards 79 are the most possible outcome. The Dollar index has completed 5 waves down from 80.28 to 79.74 and we now expect a pullback towards at least 79.95 […]
Gold has found support in the Head-and-Shoulders neckline at 1,280 and has made an upward bounce above 1,300 yesterday. The upward move from the lows is most probably a corrective bounce after the sharp decline from 1,351 to 1,276. Gold is currently in an uptrend, but we feel that trend is going to reverse soon […]
General overview for 03/10/2013 09:00 CET Two scenarios that I mentioned in the beginning of the week are still valid and now I am waiting for more wave development. It looks like the price is moving in a descendig golden channel and only a breakout in either direction might give more clues about further wave […]
Wave analysis: Despite the fact inner wave structure of the fifth wave in 5 looks rather completed, during yesterday’s trading session the GBP/USD pair resumed its growth, having tested the level of 1.6250 in the second half of the day. Meanwhile, there is an alternative in the development of wave structure; its implementation will lead […]
GBPUSD jumped 50 pips after data showed that the UK services sector grew in September. The Markit/CIPS Purchasing Managers’ Index (PMI) for services printed a reading of 60.3 in September which was in line with expectations. Although this was a slight decrease from August’s near-seven-year high of 60.5, any reading above the 50 level shows […]
USDJPY is finding resistance at the Ichimoku cloud and is currently trading below 97.85 yen in early European session trading on Thursday. Tenkan-Sen and Kijun-Sen remains negatively aligned. The pair bounced off Wednesday’s low of 97.13 but the short term downside bias prevails and selling on rallies could be a good strategy to target support […]
USD/CAD Elliott Wave Since our last analyses the USDCAD pair has been trading downwards, just like we expected, corrective wave (i) (coloured green) of the bigger wave [c] (coloured black) has started developing. Yesterday, during the early Asian session we could observe an ascending movement from 1.0335 towards the 1.0355 level. We can consider this move as the […]
