Trading recommendations: EUR/USD: According to the previous events, the price of the EUR/USD pair is still between the levels of 1.3530 and 1.3473. Moreover, it should be noted that the market was so stable and the trend was also too clear (upward). Similarly, the range was around 80 pips last week. Additionally, the value […]
Overview: The resistance of USD/CAD sets at the level of 1.0380, 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 sets at the level of 1.0380, thus swing trade at […]
The US dollar jumped against the yen on Thursday after data showed that initial job claims were down by 5000 last week to fall from 305,000 from 310,000. This surprised markets which expected a 325,000 increase in claims. Jobs data have become increasingly important since the Federal Reserve is closely watching the labor market in […]
Politics seem to be driving markets these days, both from the US and now from Europe. Today there were some headlines out of Italy, where and rising political pressure give fresh signs of euro zone economic fragility. This adds to the predominant market concerns of a possible US government shutdown. Euro was affected by news […]
Overview: Since our last analysis, Gold has been trading sideways, around the level of 1,335.16 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 no demand 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 1.6273, 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 no […]
The Dollar index formed a bearish flag that we noted in yesterday’s analysis, which should make us anticipate a break down in prices. Once the flag was broken, prices fell towards 80.30-20 and are now making a back test bounce. I expect the downtrend to resume soon towards 80. The short-term resistance that could change […]
Gold, as expected by our analysis, has started a small trend reversal with an upward direction. Prices have been supported at 1,300-1,320 and are now making a try to challenge the highs. Prices are forming a pattern with higher highs and higher lows. This confirms the short-term trend change to upward. We expected this bounce […]
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:Powell made a bold point, and Bailey did not report anything… April 18, 2024 Tuesday was interesting not only with a whole series of…Market continues to price in a plethora of […]
Wave analysis: Yesterday the pair started the day with the growth towards the figure 61. Thus, showing that the pair is ready to resume the uptrend. Meanwhile, the current position of MACD points this possibility. If it is true, the wave structure of this uptrend will be more complex. At the same time, until the […]
Sterling tumbled against the dollar and the euro in early London session trading on Thursday after the release of UK data on Final GDP and trade balance. According to a report from the UK Office for National Statistics, GDP rose to 0.7 percent in the second quarter which was in line with expectations. Meanwhile, on […]
USD/CAD Elliott Wave For the last few days the USDCAD pair has been trading upwards, just like we expected, corrective wave (c) (coloured green) of the bigger wave [b] (coloured black) has been developing. Yesterday, during the European session we could observe the descending movement from 1.0318 towards the 1.0285 level. Therefore, during the early New York session […]
Overview: USD/JPY is consolidating with bullish bias after hitting a four-day low of 98.38 Wednesday. It is undermined by selling of yen crosses amid diminished investor risk appetite (S&P fell 0.27% overnight) and weaker dollar sentiment (ICE spot dollar index last 80.34 versus 80.59 early Wednesday) as worries fester over Congressional impasse to pass the […]
Yesterday, during the European session the euro grew 60 points, though GfK Consumer Confidence Survey in Germany in October was in line with the forecast, 7.1. Probably, after weak PMI indices, the data which was in line with the forecast is considered to be strong. In the US data on Durable Goods Orders ex Transportation […]
EURUSD: As it can be seen, EURUSD is not as strong as the Cable, but it is trying to get positively correlated with it. This is a bull market in spite of the currently sideways movement in the price. The resistance line at 1.3550 was tested last week, and it is very much likely that […]
AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading downwards, corrective wave (c) (coloured green) of the bigger wave [4] (coloured black) has been developing. During the Wednesday’s Asian and European sessions we could observe the descending movement from 0.9392 towards the 0.9337 level, and we can consider this move as the end […]
European markets have opened slightly higher today, as Federal Reserve Bank of Richmond President Jeffrey Lacker’s pro-stimulus comments more than offset concerns about a US political stalemate which might cause the Government to breach the 1 October 2013 fiscal deadline and risk a government shutdown. Closer home, investors await the final reading of the UK […]
EURUSD is consolidating in Thursday’s Asian and early European session after a modest correction to the $1.3520 area. The pair broke what was key resistance at this level and hit a high of $1.3536 yesterday. This $1.3520 level now becomes key support and the pair is currently hovering around this level. The sharp 60-pip rally […]
September 26th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened slightly higher today, as Federal Reserve Bank of Richmond President Jeffrey Lacker’s pro-stimulus comments more than offset concerns about a US political stalemate which might cause the Government to breach the 1 October 2013 fiscal deadline and risk a government […]
Overview: NZD/USD is consolidating with bullish bias after hitting one-week low of 0.8215 Wednesday. Kiwi sentiment is hurt after New Zealand posted NZD1.19 billion goods trade deficit for August and NZD2.06 billion deficit for the year ended Aug. 31; both deficits were the widest since September 2008. NZD/USD is also weighed by Kiwi sales in […]
Overview: USD/CHF is consolidating with bearish bias after hitting a seven-month low of 0.9075 Wednesday. Undermined by weaker dollar sentiment. But USD/CHF downside is limited by the franc sales on soft CHF/JPY cross and on buoyant EUR/CHF cross. Daily chart is negative-biased as bearish outside-day-range pattern has been completed Wednesday; MACD is bearish; stochastics stays […]
Overview: GBPJPY is consolidating with bullish bias after hitting four-day low on Wednesday. Undermined by diminished investor risk appetite; Japan exporter sales. But GBP/JPY losses tempered by improved euro sentiment; demand from Japan importers. Daily chart is mixed as MACD is bullish, but stochastics is falling from overbought. Trading recommendations: The pair is trading […]
Today’s Support and Resistance levels: R3: 1.6542 R2: 1.6473 R1: 1.6407 Current Spot: 1.6392 S1: 1.6368 S2: 1.6329 S3: 1.6302 Technical summary: We saw a attempt top break clearly above resistance at 1.6380, but it was not successful, instead we are seeing a consolidation just around this resistance, but it should only be a matter […]
Today’s Support and Resistance levels: R3: 134.95 R2: 134.43 R1: 134.00 Current Spot: 133.85 S1: 133.56 S2: 133.05 S3: 132.68 Technical summary: As important support at 132.70 held for a new powerful rally above resistance at 133.56 (neckline of an inverted S/H/S bottom – see the 15 minute chart below), we had the confirmation we […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 98.90. Resistance. 2 : 98.71. Resistance. 1 : 98.52. Support. 1 : 98.28. Support. 2 : 98.08. Support. 3 : 97.89. DESCRIPTION: Please, pay attention to the levels of support 3 (97.89) and resistance 3 (98.90). Normally, when a level is touched, USD/JPY will rebound from […]
TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3583. Strong Resistance: 1.3575. Original Resistance: 1.3562. Inner Sell Area: 1.3549. Target Inner Area: 1.3517. Inner Buy Area: 1.3485. Original Support: 1.3472. Strong Support: 1.3459. Breakout SELL Level: 1.3451. DESCRIPTION: Today EUR/USD has support and resistance at 1.3472 and 1.3562. The rate is accompanied by strong support at 1.3459 […]
Monthly chart Looking at the monthly charts, we can see that USD/CHF has been approaching its support zone located at 0.9000 and according to Murrey math lines is in a bearish spot because although repeatedly attempt to overcome the area of 5/8 (green line) was unsuccessful. For this reason, the 0.9000 area is an important […]
Daily chart: The USDX found strong resistance at the 80.62 level, and it is now very likely to drop to the level of 80.11. Recall that if the USDX manages to break that level, it will be expected to fall to the level of 79.19 in the medium term. Furthermore, there is still the possibility […]
Daily chart: Finally, GBPUSD managed to consolidate above the resistance level of 1.6046. Now, it is very likely that this pair is rising to the resistance level of 1.6146. Meanwhile, this pair will continue forming a lower high pattern, and if it can break this level, it is expected to rise to the resistance level […]
The dollar reversed its decline against the yen on Thursday, but the move was not a sign of dollar strength, but rather a signal of yen weakness. During the Asian session traders were focused on Japan and the likelihood of the Bank of Japan implementing further bold monetary easing measures by unveiling a corporate tax-cut. […]
