Technical outlook and chart setups: As depicted here in the daily chart, Gold has fallen below the lines of support by now. It is going to face resistance at the 1,350/65 levels, going forward, hence it is recommended to exit long positions if it reverses from 1,350/65 which is support turned resistance at the moment. […]
Technical outlook and chart setups: The currency pair seems to be breaking out the triangle, as depicted here, in the daily chart. Yesterday’s fall could be seen as a test of resistance turned a support line at 131.50/70 area. Resistance is at the 133.80/134.00 levels; while support begins from 130.00, followed by 128.00, 125.00 and […]
Technical outlook and chart setups: The currency pair is consolidating the recent gains at the moment, before pushing through higher highs. Immediate resistance is seen at the 1.48 levels, followed by 1.5; while immediate support is at 1.46, followed by 1.42 and 1.4 respectively. It is recommended to hold long positions taken earlier; also fresh […]
Next week’s FOMC meeting is looming and investors are taking caution and not buying up the U.S. Dollar ahead of this major risk event. While there has been much speculation recently that the Federal Reserve will begin tapering this month, uncertainty about the timing and pace of Fed action grew after last week’s disappointing U.S. […]
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. The market expressed […]
Two months ago, the USD/CAD pair rose steeply approaching the key resistance level of the ascending channel around 1.0530 as depicted in the chart. This happened when 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 […]
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 and heading towards 1.3315-1.3330 in the current time. Price Zone 1.3330-1.3350 is a prominent SUPPLY […]
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 […]
Technical outlook and chart setups: The metal seems to be holding support at 22.30 level for now. It is recommended to exit short positions taken earlier and look to go long again. Immediate support is the 22.30 region, followed by 19.25 and lower, while intermediary resistance is at 25.00 and higher up. It is quite […]
Technical outlook and chart setups: The metal has just met with out expected downside target at 1,350.00. It is strongly recommended to exit short positions now and look to initiate long positions at current level (1,340/45). The following reasons would be enough to take long positions: 1. Prices are at past resistance turned support at […]
Technical outlook and chart setups: The single currency pair raised past 133.00 level yesterday but failed to print higher highs. At the moment, it looks to be testing the past resistance turned support region around 132.00 level. It is recommended to book partial profits at current levels and move risk to break-even levels on the […]
Technical outlook and chart setups: The single currency pair has raised ahead after entering into buy zone of the sloping downtrend line as depicted on daily chart view here. It is recommended to book partial profits at current levels, and move stop to 1.46. The trade does not have any risk now! Immediate short-term support […]
Overview: Since our last analysis the EUR/NZD pair has been trading downwards, the price tested the level of 1.6300 (FE 261.8 %), like we expected. We are still waiting for an upward movement and testing the level of 1.7360. The current situation in (4H) timeframe is that we have got downward move on decreasing volumes. […]
GBP/USD: Resistance: 1.5890 (sell below this level). Support: 1.5775 (buy above this level for retesting this level for a short period). Trading recommendations: (intraday) According to the previous events, the price is still between the levels of 1.5800 and 1.5820. The descending movement will probably be lower than the 1.5893 level with the first […]
Overview: Since our last analysis Gold has been trading downward movement,as we expected, the price tested the level of 1,337.00 on volume above the average. We are still waiting for the bearish trend continuation. We are still likely to see its testing the weekly FE level of 161.8% (Weekly third target) at the price of […]
The euro was weighed down by disappointing Euro zone industrial production data for July. The numbers fell much below forecasts, in another sign that the region’s recovery remains fragile. A Eurostat report indicated a 1.5 per cent month-on-month decline in the month, significantly worse than the 0.1 per cent fall predicted. It rose 0.7 per […]
Overview The 4H chart demonstrates today that silver takes a downward move after breaking the support level of 22.80 and currently is approaching the support level of 22.50. Given that the pair closes 4H below this support level, it will provide a good opportunity to sell below the support level. After that we should […]
Overview In H4 chart, the price closed below the support level of 157.45 and broke the lower boundary of the bullish channel to trade out of it, which gave a new opportunity for more bearish signals today. As shown, the price has already broken the Support area and now is approaching the support level […]
Trend remains down in the Dollar Index and still we remain neutral as no bullish sign was given yesterday. Prices have now reached the 61.8% Fibonacci retracement as shown in the cahrt below. This price level was our second target for a possible bottom and end of the decline from 82.67. Short-term support is found […]
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, […]
Gold did not manage to make any significant upward move. Resistance at 1,372 was not broken and prices moved sideways in an overlapping pattern. The correction ended today as the low at 1,355 was broken and prices fell towards our second target of 1,340. The trend remains downward, but bears should be cautious and to […]
AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading downwards, just like we expected, corrective wave .iv (coloured green) of the bigger wave C (coloured blue) has been developing. During Wednesday’s Asian and European sessions we could observe ascending movements from 0.9274 towards the 0.9337 level. Therefore, during the early New York session this major currency […]
USD/CAD Elliott Wave For the last few days, the USDCAD pair has been trading downwards, impulsive wave 5 (coloured black) of the bigger wave .3 (coloured green) has been developing. Yesterday,during the Asian and European sessions we could observe а descending movement from 1.0365 towards the 1.0330 level. Therefore, during the New York session this commodity currency continued […]
EURUSD: In spite of the current retracement in the EURUSD, which is minor, it is still expected that the price would go upwards again to reach the resistance line of 1.3350. Though the longer-term objective remains the resistance line at 1.3400, which is tenable on the condition that the bullish outlook continues to hold. USDCHF: USDCHF […]
Against our hypothesis about US dollar demand, the major market participants preferred to raise the euro for better distribution before the closure of quarterly currency futures in September. The rumor about the QE3 cut actively spreads, according to it if the Fed trims QE3 from September, then it will be no more than $10 billion. […]
General overview for 12/09/2013 08:30 CET Market is currently testing the green triangle line from the upside in corrective wave iv. To continue with impulsive development either level of the previous wave four area in grey rectangle OR an intraday support level at 131.83 should provide support and hold. If it do not hold, the […]
General overview for 12/09/2013 07:30 CET The green triangle line has been rejected twice and the price is heading lower in this unfinished impulsive progression. Currently, the H1 main count has been slightly changed, exposing a possible wave (i) as a Leading Diagonal and this fits better to the overall shape. It looks like there […]
September 12th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened slightly higher today, as investors awaited the outcome of diplomatic talks between the Foreign Ministers of Russia and the US, over the measures to eliminate Syria’s chemical stockpiles. Investors also eyed US reports on jobless claims and monthly budget along […]
AUDNZD was hit hard during the Asia session, as the Australian dollar took a double blow as a result of disappointing Australian jobs data while a hawkish Reserve Bank of New Zealand strengthened the kiwi, thereby resulting in two spikes lower for the antipodean pair. Australia’s unemployment rate hit a four-year high, up 0.1 percent […]
H4 chart Crude futures scored its first profit on Wednesday after two days of falling. The weekly report from the Energy Information Administration, U.S. showed a smaller than expected fall in crude inventories and a rise in gasoline stocks. The EIA reported that crude inventories for the week ended September 06 fell by 200,000 barrels […]
