Daily chart: The USDX is forming a higher low pattern below the resistance level of 80.62 and is very likely that the USDX will fall below the support level at 79.19. On the other hand, if the USDX manages to break the resistance at the 80.62 level, it would be expected to rise to the […]
Daily chart: The GBPUSD found strong resistance at the 1.6146 level and this dropped to support at the 1.6046 level. If the pair stays above this level, it is likely that the GBPUSD will continue forming a lower high pattern, to continue up and to break the resistance level at 1.6146. On the other hand, […]
Daily Graphic As expected Crude Oil got back the gains made during the session yesterday after falling nearly 300 pips from its peak at 108.97 giving us a new opportunity to enter purchase orders above the line 6/8 (red line) at the level of 106.25, because according to the theory of Murrey, this line is […]
The Asian session was quiet as expected for a Friday and after a volatile week following the Federal Reserve “ surprise”. The dollar consolidated gains made against the yen after reversing sharp losses from the Fed-statement on Wednesday. USDJPY shot up to as high as 99.61 in the US session on Thursday after a string […]
The US dollar rebounded the yen on Thursday after some upbeat US data, recovering from Wednesday’s shock of the Fed’s announcement it won’t taper and left stimulus programs unchanged. A string of solid US economic indicators were released today, on jobless claims, existing home sales and the Philly Fed Index. Initial jobless claims came in […]
Overview: GBP/JPY is trading with bullish bias. The rate is supported by positive risk sentiment; demand from Japan importers. But GBP/JPY gains are tempered by Japan exporter sales. Daily chart is positive-biased as MACD and stochastics are bullish. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a higher […]
Overview As it was expected yesterday, Silver would take an upward move after its rebound from the downward trend line yesterday and currently is testing the Resistance level 23.30 trying to break it through to continue its bullish move. More buy signals would be provided in case of closing 4H above this Resistance level with […]
Overview From the today’s H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the resistance level 158.20 after it has been tested yesterday. Today the pair took an upward movement and managed to break the strong resistance area 159.00 keeping its movement […]
Overview: NZD/USD is consolidating with bullish bias after hitting a four-month high of 0.8382 Wednesday. Underpinned by stronger-than-expected New Zealand 2Q GDP on-year growth of +2.5% (versus +2.2% forecast); Kiwi demand on soft AUD/NZD cross; negative dollar sentiment; positive risk appetite; stronger commodity prices; hawkish Reserve Bank of New Zealand’s monetary policy stance. Daily chart […]
Overview: The resistance of USD/CAD sets at the level of 1.0300, therefore, the bears are going to sell below 1.0303, because there is a double top on the price 1.0313. So it should also be noted that the resistance sets at the level of 1.0300, thus swing trade at the area of 1.0310 […]
Overview: USD/CHF is consolidating with bearish bias after hitting a seven-month low of 0.9105 Wednesday. SNB is widely expected to keep its floor for the euro at 1.20 francs and hold interest rates near zero. Swiss franc sentiment boosted after ZEW-Credit Suisse indicator of economic sentiment for Switzerland jumped to 16.3 in September, the highest […]
Overview: USD/JPY is consolidating with bullish bias after hitting a three-week low of 97.76 Wednesday. Undermined by negative dollar sentiment (ICE spot dollar index last 80.19 versus 81.15 early Wednesday) after the Federal Reserve unexpectedly kept its $85-billion-a-month bond-buying program unchanged and cut its forecast for U.S. economic growth in 2013 to 2.0%-2.3%, while Chairman […]
Overview: AUD/USD: According to the previous events, the price has still been trapped between 0.9470 and 0.9520. 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 […]
The dollar jumped against the yen after US initial jobless claims data came in better than expected when released on Thursday. Data from the US Labor Department showed that the number of Americans filing new claims for unemployment benefits increased 15,000 to a seasonally adjusted 309,000 for the week ending September 14. This was well […]
Overview: Since our last analysis, Gold has been trading upwards, the price tested the level of 1,375.11 on ultra high volume (buying climax). We are still likely to see its testing the weekly FE level of 161.8% (Weekly third target) at the price of 1,151.00. I saw supply bar on the ultra high volume according […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards, the price tested the level of 1.6068 on ultra high volume. Since the price has broken FE 261.8% (1.6276), we may expect testing of Fibonacci RE 61.8% at the price of 1.5915. In the daily chart we can observe supply bar on high […]
Currency markets have calmed down after the shock from Fed’s dovish statement on Wednesday and lack of tapering. The Fed’s decision not to scale back on its $85 billion a month of bond buying was mainly based on concerns of a recent sharp rise in Treasury yields, which was proving a headwind for the housing […]
We are pleased to announce the participation of XM at the FOREXPO Foreign Exchange Exhibition and Conference in Budapest, Hungary, on 27th and 28th September 2013. The participation of XM at the FOREXPO is an important event in our company history, primarily because it attests to the growing brand reputation of our services among Hungarian […]
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:Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500… April 16, 2024 We introduce you to the daily updated section of Forex…What’s next for markets amid Israel-Iran tensions? – Special… April 16, […]
The Dollar Index has broken support and made new lows. Prices never managed to produce a bullish signal and our neutral stance protected us. On the contrary, not only prices reversed upwards but instead were pressured lower after heavy selling following Bernanke’s speech. The Dollar Index has now broken important support levels and it has […]
EURUSD: There is a Bullish Confirmation Pattern in the chart; the pair has broken out in a serious directional movement (to the upside). There would be some minor southward pulls, but the price would end up challenging the resistance line at 1.3600. It may end up overcoming it. USDCHF: In a sharp contrast to the […]
Gold during Bernanke’s speech was spiking. Our stop was hit and our short position was protected against the rising volatility. Prices reached 1,370 breaking out of the downward sloping channel and reaching the 61,8% Fibonacci retracement. The upward thrust looks like an impulsive wave and we now expect a pull back towards 1,330-40. The decline […]
General overview for 19/09/2013 09:30 The triangle scenario has been invalidated and now it looks like the market wants to develop 3-3-5 ABC blue Irregular Flat pattern of Wave X, making the last wave to the downside as an five wave impulsive pattern. In lower time frames, traders can see that the price is below […]
General overview for 19/09/2013 09:00 CET: The key level area from yesterday has been broken and now the price is in impulsive wave development to the upside. The first level of resistance is the last high at 133.35. In H4 chart there is a bullish pennant technical pattern and the projected target level of this […]
Wave analysis: Yesterday’s decision taken by the FOMC allowed the pound to continue the process of consolidation against the US dollar. As a result by the close of the American trading session the GBP/USD pair could go up almost 270 points, reaching the level of 1.6160. Thus, as it was expected, the currency pair has […]
Sterling fell against the dollar from an eight month high after UK retail sales data for August came in less than forecast. According to data, retail sales excluding fuel in August fell by 0.9 percent month over compared to expectations of a 0.4 percent increase. The annual rate of growth slowed to 2.1 […]
Yesterday’s decision to keep the current bond buying program at $85 billion was considerably unexpected. However, the most surprising was the decision taken by the US Congress to preserve the situation for a long period of time having connected bond buying to the perspectives of the labour market. Taking into account the fact that the […]
European markets have opened sharply higher today, after the US Federal Reserve, citing a tightening in financial conditions and tepid pace of economic recovery, surprised investors by maintaining its massive monetary stimulus intact. Closer home, investors await UK retail sales data, due today, which is expected to reveal that the nation’s retail sales rose 3.3% […]
USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has continued trading downwards, impulsive wave 5 (coloured green) of the bigger wave (1) (coloured blue) has been developing. Yesterday, during the European session we could observe ascending movements form 1.0288 towards the 1.0318 level and we can consider this move as the end of the .2 wave (coloured […]
AUD/USD Elliott Wave For the last few days the AUDUSD pair has been trading upwards, that is why we extended our primary view on the impulsive wave 3 (coloured green) of the bigger (c) wave (coloured blue). During Wednesday’s Asian and European sessions we could observe ascending movements from 0.9331 towards the 0.9375 level. Therefore, during the early New York session this […]
