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 […]
On 27th and 28th September, the XM Team headed by CEO Constantinos Cleanthous and Chief Marketing and Sales Officer Tasos Papanastasiou, were on hand at the FOREXPO in Budapest, Hungary, where they had the pleasure of meeting with both prospective and existing local clients and introducing brokers. Visitors to the XM booth enjoyed the opportunity […]
Daily chart Crude Oil had a bearish session on Tuesday, though without achieving the 101.00 resistance level. Data from the American Petroleum Institute showed that oil inventories rose by 4.55 million barrels last week, more than expected, and that prices slightly dropped. Stocks at U.S. oil hub Cushing, Oklahoma fell 83,000 barrels, the API […]
The following are highlights of Draghi news conference on Wednesday October 2nd. FORWARD GUIDANCE “In line with the forward guidance provided in July, the Governing Council confirms that it expects the key ECB interest rates to remain at present or lower levels for an extended period of time.” EXCHANGE RATES “The exchange rate is not […]
The euro rallied sharply against the dollar during ECB Chief Mario Draghi’s news conference on Wednesday, piercing $1.36 and approaching the heist level since February 4. Draghi seemingly made investors feel bullish on the euro when he said he is not worried about inflation. This is despite him repeating that interest rates will remain low […]
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The exciting Japanese Formula 1 competition has now come to a close. Running from 2nd to 30th September 2013, registered participants had the opportunity to compete for highly sought-after Japanese Formula 1 Grand Prix tickets and real cash prizes. We are delighted to announce the winners as follows: Position MT4 Account No. Prize 1st 7352748 […]
Weekly Pivot Point: 1.6081. GBP/USD “Pound Dollar”: Resistance: 1.6270 (sell below this level). Support: 1.6100 (buy above this level for retesting this level for a short period). Trading recommendations: Range: 190 pips. Volatility: 306,58, therefore, the market indicates the higher volatility. According to the previous events, the price is still between the levels of 1.6200 […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested level of 1,277.38 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 above the average, according to […]
Overview: USD/CHF: The price has still been trapped between 0.9050 – 0.9975 as well as it has been set below strong resistance at the level of 0.9279 (this level is formed at the monthly pivot point for October 1 – 31, 2013). Additionally, it should be noted that these levels are coinciding between 23.6% and […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.6486 on high volume. 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 […]
The main news on Wednesday was around the ECB policy meeting, Italian politics and the US government shutdown. The euro held steady after the European Central Bank announced it kept the benchmark interest rate on hold at a record low of 0.50 percent on Wednesday . This was in line with expectations so there was […]
EURUSD: This is a bullish market with a vivid northward bias on it. There has been much struggle with clear turbulence around the resistance line at 1.3550. Ultimately, the price ought to test the resistance line at 1.3600 (for that is the ultimate target for this week), especially in the face of the continuation of […]
The Dollar Index has completed 5 waves down from 80.65 and is now making an upward corrective bounce. Short term trend remains down as long as prices trade below 80.65-70. Prices have reached the 50% retracement after making a new low as expected near 79.85. If the short-term price action moves above 80.25, then we […]
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 […]
The republicans and the democrats are engaged in the fierce struggle. Due to sharp and abrupt reduce in the funding, about 800,000 of 2.1 million federal employees will be furloughed. There are rumors that the “blackout” will last no more than a week and a rational decision will be taken. The investors started to buy […]
Gold was trading in an upward sloping sideways channel with an overlaping pattern that we noted yesterday. We also noted that this upward move could be a corrective pattern if the support at 1,320 was broken. Our next target would be at 1,300-1,290 if support was broken and this is exactly what happened. Support levels […]
USD/CAD Elliott Wave Since our last analyses the USDCAD pair has been trading upwards, just like we expected, corrective wave c (coloured blue) of the bigger wave (y) has been developing. During Tuesday’s Asian session we could observe strong descending movement from 1.0328 towards the 1.0287 level.Therefore, during the European and New York sessions this commodity currency […]
Overview: USD/JPY is trading with bearish bias. It is weighed by negative dollar sentiment (ICE spot dollar index hit the eight-month low of 79.864 overnight; last at 80.18 versus 80.25 early Tuesday) and diminished risk appetite (although S&P closed up 0.8% overnight) as worries mount that the partial shutdown of the U.S. federal government, showing […]
General overview for 02/10/2013 08:30 CET Overlaping price action and lack of impulsive wave development might suggest that alternate count could be in charge IF the low of the wave (i) OR A green is taken out. The level of 131.62 is very important for overall wave progression and important support levels, so please keep […]
Wave analysis: As it was expected, during yesterday’s trading session the GBP/USD pair continued moving towards the level of figure 63. However, after it had reached the level of 1.6265, the price reversed 70 points from the day’s high. Meanwhile, the inner wave structure of the fifth wave in five assumes the possibility of the […]
AUD/USD Elliott Wave From the beginning of this week the AUDUSD pair has been trading upwards, corrective wave (a) (coloured green) of the bigger wave [5] (coloured black) has been developing. Yesterday, during the Asian and European sessions we could observe strong ascending movements from 0.9286 towards the 0.9434 level and we can consider this move as the end of the c wave […]
Technical outlook and chart setups: The metal has fallen below the 21.00 levels stopping us out of long positions yesterday. It is recommended to remain flat for now, though the overall structure still remains constructive due to following reasons: 1. The rising trendline for sub 18.00 levels still remains intact. 2. The fibonacci 0.618 support […]
General overview 02/10/2013 08:30 CET The price development is pointing to the upside and the current wave progression indicates that wave (iii) is developing. To confirm this movement, the 1.0350 level must be taken out. Then, the next resistance for the price is WR2 at 1.0379. Support provides the 1.0335 level. Momentum on AO oscilator […]
Overview: GBP/JPY is trading in a lower range. it is undermined by diminished investor risk appetite, Japan exporter sales. But GBP/JPY losses are tempered by demand from Japan importers. Daily chart is negative-biased as MACD and stochastics are in bearish mode. Trading recommendation: The pair is trading below its pivot point. It is likely to […]
Technical outlook and chart setups: The metal fell below the 1,290.00 levels yesterday on the backdrop of U.S Government shutdown, but the technical support of 1,270.00 remains intact. In 4H chart it is depicted a tweezer bottom formation and that the metal should be poised to rally from current levels. It is still recommended to […]
USDJPY – Technical indicators suggest short term bearish in the pair. On the 4H chart on Wednesday, in the mid-European session, price action is moving lower and is below the Ichimoku cloud (bearish). The Tenkan-Sen and Kijun-Sen remain negatively aligned. USDJPY is currently at 97.35. Key support level of 97.60 was broken in mid-session European […]
October 2nd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. 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 […]
Technical outlook and chart setups: As depicted in the daily chart, the currency pair has pulled back after hitting fibonacci resistance close to 135.00. Recent lows at 131.60 indicate that there still remains steam for an upside extension towards 136.00/137.00. It is therefore recommended to remain long with risk below 131.50 for now. Resistance is […]
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 […]
