EURUSD: It is normal for a trading instrument to enter an equilibrium phase, following a significant trend, after which it would either continue the trend or reverse. What is happening in EURUSD shows that there may be a northward break soon towards the resistance line of 1.3400. USDCHF: The principle mentioned for the EURUSD is […]
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 19, 2024 April 19, 2024 Potential for the further drop on NAS100The material has been…Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision… April 19, […]
Wave analysis: Yesterday the GBP/USD pair was trading in a narrow range fluctuating in the range of 40 points. Meanwhile, despite low market volatility, the price managed to close the ‘window” which was formed on Monday. Thus, it looks like the currency pair is forming the forth wave in terms of upward trend channel starting […]
Sterling jumped to an 8-month high against the dollar on Wednesday after the release of the Bank of England policy meeting minutes. The central bank’s policy makers from the Monetary Policy Committee (MPC) signalled that they see no need for more stimulus amid growth in the UK economy. The minutes from the September 3-4 policy […]
On Tuesday, against our assumption about possible weak data on Economic Sentiment in Germany and the Eurozone, the indices were strong. ZEW Economic Sentiment was 58.6 vs. 44.0 in August. However, Current Account in the Eurozone in July was more intrinsic of the economic situation in the Eurozone; it was 11.1 billion euro vs. estimates […]
General overview for 18/09/2013 09:00 CET The price is consolidating just below Key Level resistance area, that must be broken to the upside to expose a possible test of the latest highs. Not much of a impulsive bullish wave progression tough. Looks more like some more complex wave (ii) black in progress. Very narrow rage […]
General overview for 18/09/2013 08:30 CET As mentioned earlier, the level of 1.0336 which is Weekly Pivot provided strong resistance and after the test of this level the price has made a new low and currently is consolidation in the middle of the range. The current main count labels this wave down as wave b […]
USD/CAD Elliott Wave For the recent days, the USDCAD pair has been trading downwards, impulsive wave 5 (coloured green) of the bigger wave (i) (coloured blue) has been developing. During the Tuesdays Asian and European sessions we could observe descending movements from 1.0333 towards the 1.0300 level. Therefore, during the early New York session this […]
AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading higher, we have moved to our alternate scenario that is showing that we are currently in the .B (coloured black) of the bigger wave 4 (coloured green).Yesterday, during the Asian and European sessions we could observe ascending movements from 0.9284 towards the 0.9338 level. Therefore, […]
September 18th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened higher today, ahead of the outcome of the US Federal Reserve’s monetary policy meeting, due later in the day, wherein investors speculate that the central bank would reduce its asset purchases by $5 -$10 billion and maintain its ultra-low interest […]
For today we should beware the FOMC meeting tonight, because this time they will want to make a decision about the tapering of their QE from $85 billion to $75 billion; they will reduce QE approximately $10 billion, but we do not know exactly what result to expect. However, we believe the market will move […]
For today we should beware the FOMC meeting tonight, because this time they will want make a decision about the tapering for their QE from $85 billion to $75 billion. The FRS will reduce QE approximately by $10 billion, but we do not know exactly we will see the result tonight or not. However, we believe the […]
For today we should beware the FOMC meeting tonight, because this time they will want to make a decision about the tapering of QE from $85 billion to $75 billion. The FRS will reduce QE approximately by $10 billion, but we do not know exactly what result it will be. However, we believe the market […]
Technical outlook and chart setups: The metal has dropped/retraced to the 21.50 levels as expected earlier. This level is also the 0.618 fibonacci support of the recent rally from 19.00 to 25.00, as depicted here. A bullish reversal here would confirm the next leg is up towards at least the 27.00 levels and more. As […]
Daily chart: The USDX continues forming a higher low pattern, above the bullish trendline and below the resistance at the 81.50 level. If the USDX manages to break the bullish trendline, it is expected to fall to support at the 80.62 level, to strengthen the current bearish trend, because the USDX still remains below the […]
Daily chart: GBPUSD is holding above the support at the 1.5883 level, forming a lower high pattern. It is very likely that during the rest of the week, this pair will perform movements in a low range, due to the phase uncertainty has entered the last days, where its intraday trend is not clear. On […]
Today’s Support and Resistance levels: R3: 1.6348 R2: 1.6304 R1: 1.6274 Current Spot:1.6241 S1: 1.6230 S2: 1.6187 S3: 1.6157 Technical summary: With the clear break below the support at 1.6247 we knew, that the next important support at 1.6117 is in play. Short-term minor resistance at 1.6274 should protect the upside for the next decline […]
Today’s Support and Resistance levels: R3: 133.37 R2: 133.17 R1: 132.64 Current Spot: 132.49 S1: 132.34 S2: 132.10 S3: 131.87 Technical summary: We are still looking for the break above important resistance at 132.64 to give us the “go” for the next impulsive rally higher towards 133.87 and 138.00 as the next long-term target. Ideally, […]
The highly anticipated day has finally arrived and the Federal Reserve policy statement is due later in the day. As a result, the Asian session was calm and uneventful as investors prefer to wait on the sidelines ahead of this key risk event. There are expectations for slight tapering of a $10 billion reduction in […]
Technical outlook and chart setups: The metal has dropped below 1,300.00, clearly breaking the support line extending from the 1,180.00 levels earlier. Long positions has been taken earlier with a stop below the 1,270.00 levels. The immediate support level is at 1,270.00, followed by 1,210.00 and 1,180.00; while resistance is at 1,430/40 respectively. Gold is […]
Technical outlook and chart setups: As depicted here, the currency pair has broken out the triangle resistance earlier, and is presently testing the back side around 132.00/50, which should act as support now. It is recommended to hold long positions for now, expecting a push towards resistance at the 133.80/134.00 levels. Immediate support is at […]
Technical outlook and chart setups: The currency pair seems to be stalling at intermediary resistance level around the 1.48 levels as depicted in the daily chart. It is recommended to book profits on long positions taken earlier for now. The major resistance is at the 1.5 levels while the intermediate support is at 1.42, followed […]
We are less than 24 hours away from what could be said to be the most important event of the year. The Federal Reserve policy meeting concludes on Wednesday and investors are waiting to see what the Fed statement will be. Will it taper and by how much? Markets are currently pricing in that the […]
Daily view: The cable invalidated the reversal Head and Shoulders pattern maintaining a 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). Previous bullish swing targeted 100% Fibonacci […]
Immediate bullish pressure was expressed on testing the depicted uptrend line around 1.3100 resulting in a bullish engulfing daily candlestick that closed above 1.3170. This was followed by a full-body bullish daily candlestick representing accelerated momentum that pushed towards 1.3275 reaching 1.3315-1.3330 last week before the weekly bullish gap took place. Price Zone 1.3330-1.3350 was […]
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 recent […]
Two months ago, a prominent bottom was established around 1.0260. This happened after the pair established a consolidation range between 1.0450-1.0560 that expressed a false bullish breakout above 1.0555, which was followed by intensive bearish pressure that led to the breakdown of 1.0450 and 1.0380 with a record low of 1.0254. Important level was located around 1.0505 […]
Daily chart Prior to downtrend the 0.9277 area was an important support for the USD/CHF pair, which could not be overcome easily. Similarly in daily chart it is seen that this area. At this time the pair traded at 0.9266 with a bias towards low and marked according to the theory of Murrey lines, […]
Overview According to our last week expections, the price’s close below the Resistance level of 22.50 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Resistance level to trade below and opened the way towards 21.70 as the first target, then the metal should test the Support […]
Daily chart Crude Oil in 1-day chart, after trying to break the area, bounded from the line of 6/8 (red line), considered a major reversal zone when the price is rising. In this case it would be a zone of important support. After reaching a low of 105.59, at the moment, the pair is recovering […]
