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 […]
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 […]
OvervieW: USD/JPY is consolidating with bullishness after hitting a five-week low of 97.15 Wednesday. it is undermined by negative dollar sentiment (ICE spot dollar index hit an eight-month low of 79.781 overnight; last at 79.90 versus 80.18 early Wednesday) after U.S. ADP report showed the private sector added 166,000 jobs in September, below 178,000 forecast, […]
Overview: USD/CHF is quoting in a range. It is undermined by negative dollar sentiment. But USD/CHF downside is limited by the franc sales in the buoyant EUR/CHF cross. Daily chart is still negative-biased as MACD is bearish, stochastics stays suppressed at oversold, 5- and 15-day moving averages are declining. Trading recommendation: The pair is trading […]
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 […]
AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading downwards, corrective wave (x) of the bigger wave [5] (coloured black) has been developing. During Wednesday’s Asian and European sessions, we could observe descending movement from 0.9408 towards the 0.9332 level and we can consider this move as the end of the wave C (coloured blue) […]
Overview: GBP/JPY is trading with risks skewed higher. It is supported by positive euro sentiment, improving risk appetite, demand from Japan importers. But GBP/JPY gains are tempered by Japan exporter sales. Daily chart is still negative-biased as MACD and stochastics is in bearish mode. Trading recommendations: The pair is trading above its pivot point. […]
Overview: NZD/USD is trading in a higher range. it is underpinned by negative dollar sentiment, improving risk appetite, rebounding commodity prices. Daily chart is mixed as MACD is bearish, but stochastics is neutral. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a higher range as far […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 97.99. Resistance. 2 : 97.80. Resistance. 1 : 97.61. Support. 1 : 97.38. Support. 2 : 97.19. Support. 3 : 96.99. DESCRIPTION: Please, pay attention to the levels of support 3 (96.99) and resistance 3 (97.99). Normally, when a level is touched, USD/JPY will rebound from […]
TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3655. Strong Resistance: 1.3647. Original Resistance: 1.3634. Inner Sell Area: 1.3621. Target Inner Area: 1.3589. Inner Buy Area: 1.3557. Original Support: 1.3544. Strong Support: 1.3531. Breakout SELL Level: 1.3523. DESCRIPTION: Today EUR/USD has support and resistance at 1.3544 and 1.3634. The rate is accompanied by strong support at 1.3531 […]
Today’s Support and Resistance levels: R3: 1.6515 R2: 1.6473 R1: 1.6430 Current Spot: 1.6382 S1: 1.6366 S2: 1.6336 S1: 1.6316 Technical summary: The decline from 1.6492 became deeper than expected. The deep decline did take some of the immediately bullishness out of the picture, but, overall, we are looking for support at 1.6336 to protect […]
The Asian session on Thursday was relatively quiet, with little news and no key economic data releases. Investors are being cautious, waiting for signs of political compromise to end the US government shutdown. Focus will be on some data releases in the upcoming European session. There will be a series of purchasing managers indices from […]
Today’s Support and Resistance levels: R3: 134.00 R2: 133.49 R1: 132.97 Current Spot: 132.87 S1: 132.52 S2: 132.13 S3: 131.89 Technical summary: The decline from 133.49 became much deeper than expected and has forced a recount of the short-term picture. The bigger picture is still intact for a new impulsive wave higher towards 134.00 […]
Daily chart: Finally, the USDX managed to break the support at the 80.11 level and now it is very likely that the USDX will fall to the level of 79.19 in the medium term. It is also likely that the USDX has a lateralized fall, due to strong weakness presented by the USDX within the […]
Daily chart: This pair is rising and strengthening its current bullish trend. Now, GBPUSD is trying to break the resistance level at 1.6235, and, if it succeeds, it is expected to rise to the level of 1.6326. We must be pending before the breakout of the resistance level, because it could strengthen even more the […]
European markets have opened slightly higher today, as upbeat services PMI data from China and Italian Prime Minister Enrico Letta’s win in a Parliamentary confidence vote overshadowed worries over the partial US Government shutdown. Meanwhile, Halifax reported that UK house prices rose less-than-expected 0.3% MoM in September, compared to a downwardly revised 0.3% gain reported […]
Currency analyst Joel Murphy talks to Sky News about sentiment around the continued government shutdown in the US and its impact on financial markets. Related Posts:Analysis of EUR/USD. April 5th. There is still no positive… April 7, 2024 The wave analysis of the 4-hour chart for the EUR/USD…EUR/USD. November 6th. The bulls received favorable news […]
The euro surged 100 pips against the dollar to pierce $1.36 in the early US session trading on Wednesday during ECB Mario Draghi’s press conference. Draghi was speaking after the ECB policy meeting where the central bank left the key interest rate unchanged at 0.50 percent. Adding to euro demand was news today that the […]
Overview From the shown H4 chart, Today the pair failed more than once to break the Support area consisting of the upward trend line with the Support level 157.70 and is still trading above it since yesterday. In case of the pair bounced from this Support area again and started to take an upward move […]
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: 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 […]
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 […]
