Overview As shown in the today’s H4 chart, the metal is stabilizing above the Support level of 21.50 after its failure to break the Support level last week. Currently, we must wait for re-testing the Support level again and closing below to get the bearish move opportunity. In that case we will get a […]
Overview: Since our last analysis, Gold has been trading sideways around the price of 1,310.38 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 lack of demand on volume just below the average, according to the daily […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around the price of 1.6390, 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 no supply bar on volume just below the average. […]
Gold prices continue to trade sideways with no clear short-term direction. The chart below shows the triangle is being formed. If prices break above 1326, then we should expect the upward bounce to complete near 1,350-60. If the triangle breaks downwards below 1,304, then expect 1,290-1,280 to be tested. The short-term trend is neutral. Intermediate-term […]
The Dollar index has broken the short-term resistance. The move from the lows is an upward impulsive move with 5 waves complete. The pullback is corrective and has reached the 50% Fibonacci retracement of the rise from the 79.63 lows. The short-term trend has changed to upward, and we expect at least 5 more upward […]
The United States is a like a nuclear bomb waiting to explode while the US Congress is gridlocked over the extension of the debt ceiling, keeping markets choppy and investors are nervous, dollar is down. The risk of a debt default is just weeks away if Congress fails to raise the debt ceiling and could […]
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 18, 2024 April 18, 2024 Potential for the further drop on BTCUSDThe material has been…Powell made a bold point, and Bailey did not report anything… April […]
On Friday the investors started to close the positions. The euro dropped 62 points. Today at 16:30 UTC+4 US data on Nonfarm Payrolls in September is published. It is expected to be 180K vs. 169K in August. Factory orders are expected to grow 0.3% vs. decline for 2.4% in July. This week all the statistics […]
General outlook for 07/10/2013 10:00 CET There is still no impulsive wave development in this pair and the triangle line breakout looks more and more like a fake one. The Expanding Leading Diagonal wave 1 idea is rather close to invalidation, but I will give it one last chance, as the low of the wave […]
General overview for 07/10/2013 09:30 CET Wave c green of overall wave (ii) green has retraced 78% of the previous swing high and now it starts showing some bullish price action. It is already above Weekly Pivot level and the next resistance is the descending golden trendline that must be broken to confirm more upside. […]
USD/CAD Elliott Wave Last week, the USDCAD pair was trading downwards, impulsive wave (i) (coloured green) of the bigger [c] wave (coloured black) was developing. During Friday’s Eureopan session we could observe ascending movements from 1.0321 towards the 1.0339 level, and we can consider this move as the end of the corrective wave ii (coloured blue). Therefore, during the […]
Wave analysis: It looks like that on Friday’s drop for 170 points to the level of figure 60, the GBP/USD pair confirmed completion of upward trend channel, starting from the low of August 28. If this assumption is correct, then possibly the currency pair has moved to the stage of formation of downward correction, which […]
AUD/USD Elliott Wave Last week, the AUDUSD pair was trading upwards, corrective wave a (coloured blue) of the bigger wave A (coloured red) was developing. During Friday’s Asian and European sessions we could observe strong ascending movements from 0.9398 towards the 0.9447 level. Therefore, during the New York session this major currency continued trading upwards and the price […]
USDJPY holds a bearish bias on Monday. Price action remains below the Ichimoku Cloud. Tenkan-Sen and Kijun-Sen remain negatively aligned. On the 4H Chart: The pair moved lower after the European session opened. The key support level of 97.050 was penetrated, which is the 23.6 Fibonacci level of the move from the September 2012 low […]
October 7th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. Find us on social media to be kept up to date with the latest ETX Capital news: Facebook: https://www.facebook.com/#!/ETXCapitalGroup Twitter: https://twitter.com/#!/etxcapital LinkedIn: http://www.linkedin.com/company/445425?trk=tyah ETX Capital’s RSS site: http://my.etxcapital.co.uk/ Related Posts:EUR/USD. May 8th. The market continues to rest against the… May 8, 2024 The EUR/USD […]
Flight to safety led to a rise in the Japanese yen in Monday’s Asian session trading, as concerns linger over the ongoing US government shutdown, now into its seventh day. Dollar index hovers at an 8-month low over the US budget standoff. Republican US House Speaker Boehner said over the weekend there is “no way” […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 97.62. Resistance. 2 : 97.43. Resistance. 1 : 97.24. Support. 1 : 97.01. Support. 2 : 96.82. Support. 3 : 96.62. DESCRIPTION: Please, pay attention to the levels of support 3 (96.62) and resistance 3 (97.62). Normally, when a level is touched, USD/JPY will rebound from […]
Daily chart: The USDX rose back up to the resistance level at 80.11. Now, it is very likely that the USDX would conduct a bearish rebound at this level and try to fall to the support level at 79.19. This could be a bearish corrective movement in the USDX’s current trend, so it is normal. […]
EURUSD: This pair trended upwards last week, but the current southward reversal in the market is a threat to the bulls’ interest. Should this pair go further downwards, it would lead to the total loss of all the gains that was realized last week. Any movement below the support line of 1.3500 will signal about […]
Daily chart: GBPUSD continues to fall in this chart and now this pair is trying to break the support at the 1.6046 level. If successful, it is expected to fall to the level of 1.5883. The pair met strong resistance at the 1.6235 level and there it formed a fractal, which could be an indicator […]
Today’s Support and Resistance levels: R3: 1.6515 R2: 1.6464 R1: 1.6405 Current Spot: 1.6355 S1: 1.6335 S2: 1.6315 S3: 1.6239 Technical summary: The break below support at 1.6388 and 1.6338 has frustrated the short-term count. However, as long as important support at 1.6239 continues to protect the downside, we will be looking for a […]
Today’s Support and Resistance levels: R3: 133.21 R2: 132.69 R1: 132.17 Current Spot: 131.88 S1: 131.42 S2: 130.96 S3: 130.57 Technical summary: The pair continues to trade around the triangle resistance line. However, the important support at 131.42 is still intact and should continue to hold for a break above minor resistance at 132.17 […]
TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3634. Strong Resistance: 1.3626. Original Resistance: 1.3613. Inner Sell Area: 1.3600. Target Inner Area: 1.3568. Inner Buy Area: 1.3536. Original Support: 1.3523. Strong Support: 1.3510. Breakout SELL level: 1.3502. DESCRIPTION: Today EUR/USD has support and resistance at 1.3523 and 1.3613. The rate is accompanied by strong support at […]
European markets have opened lower today, as caution persisted after the US lawmakers failed to make any significant developments over the weekend, towards resolving a political impasse over the US budget and debt ceiling. Closer home, investors await the release of BRC’s retail sales monitor index and RICS’s house price balance data, due later in […]
Currency Analyst Joel Murphy is interviewed on trading day and asked questions on the domestic currency and what we expect from the market today. Related Posts:Bitcoin licks wounds as Fed comes on the rescue – Crypto… May 3, 2024 Bitcoin posts 2-month low on expectations of slower rate cuts…Bitcoin slips as markets pare back Fed rate […]
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 […]
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 […]
Daily view: Price Zone 1.3515-1.3560 represented 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 Tuesday’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 […]
Overview According to H4 chart, the metal is still trading between the Support level of 21.50 and below the Resistance level of 22.00 after its failure to break the Resistance level yesterday and bounced from it to take a slightly downward move and currently is re-testing the Support level of 21.50 again. Presently, we suggest […]
