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 […]
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). Previous bullish swing targeted 100% Fibonacci Expansion […]
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 […]
Overview: GBP/USD: The resistance has been already set at the level of 1.6233 as well as the support has been set at 1.5966 for September 20, 2013. Therefore, according to the previous events, the price has still been trapped between 1.6050 and 1.6100, then it should be noted that the range today will be […]
Overview: The EUR/USD’s resistance was broken and it was turned to support this week, thus the pair has already formed a strong support at 1.3445 and a minor support will be set at the level of 1.3500. Moreover, it could not close below 161.8% Fibonacci levels and started indicating a bullish market, as well […]
Currency markets have definitely slowed down after the Fed-induced rally on Wednesday, with a quiet end to the week. The economic calendar was light during the European session on Friday, keeping the euro steady and holding onto gains made post-Fed. EURUSD is not far from a 7-month high, trading in a range between $1.3515 and […]
Daily chart During Thursday’s session saw several piece of news from Switzerland. Its trade balance report threw a surplus of CHF 1.85 billion for the month of August, while analysts expected it was the figure of 2.74 billion CHF. On the other hand, the Swiss National Bank (SNB) decided to keep interest rates unchanged […]
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 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April 18, 2024 We introduce you to the daily updated section of Forex…Video market update for April 18, 2024 April 18, 2024 Potential […]
EURUSD: The EURUSD pair shot upwards in a significant mode this week, reaching as high as the resistance line at 1.3550. The range movement on the chart is simply a pause in the price, for it would resume its northward journey from there (whether today or next week). USDCHF: Here, the EMA 11 is below […]
Wave analysis: It seems like an uptrend which is running over allowed the GBP/USD pair to break through the level of 1.6150. As a result, during the yesterday’s trading, the price reversed 120 points from the day’s high. Meanwhile, despite such a dramatic decline, the inner wave structure of the fifth wave at the moment […]
Dollar is still in downtrend but making a small upward bounce as expected by our last analysis to test the upper boundaries of the downward sloping channel. Trend remains down and it will be very difficult for the bulls to manage and reverse this trend after the sharp spike down after Bernanke’s comments last Wednesday. […]
As mentioned in yesterday’s analysis Gold has most probably finished its upward move from 1,291 and is now making a reversal. Prices are expected to fall towards at least the 38% Fibonacci retracement if not towards the 61.8% retracement. We are bearish with the first target 1,346 and second at 1,328. The prices are heading […]
After a spectacular growth of Wednesday, on Thursday the euro tried to preserve the reached level and closed the day with a modest growth of 8 points. On Sunday, federal election is scheduled in Germany. Angela Merkel’s the Christian Democratic Union of Germany and the Social Democratic Party of Germany, where Peer Steinbrück is the […]
European markets have opened lower today, as investors opted to book their trading profits after a recent rally drove markets to five year highs following the Fed’s decision to postpone a cut in stimulus. With no release of major domestic economic data during the day, investors turned their attention towards Eurozone consumer confidence and speeches […]
EURUSD has a strong upward bias, currently consolidating its post-Fed gains near a seven-month high of 1.3567 hit on Sept 19. On the Hourly chart, RSI above 50 and stochastic is rising. Prices are trading above the Ichimoku cloud. The pair is currently around $1.3530. Strong support is at the MA20 at 1.3525. Retracement and […]
September 20th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened lower today, as investors opted to book their trading profits after a recent rally drove markets to five year highs following the Fed’s decision to postpone a cut in stimulus. With no release of major domestic economic data during the […]
USDJPY remains on the upside. On the Hourly chart, Tenkan-Sen and Kijun-Sen are positively aligned, adding to the overall upside potential. Resistance is at 99.63, which is the Sept 19 high and the 23.6 Fibonacci of the move from June 13 low to the July high. Following this, the key psych 100.00 yen level comes […]
General overview for 20/09/2013 08:45 CET The price has met the first take profit level from yesterday and was shy of 13 pips to meet second profit level. Anyway, there is still a chance that take profit level at 1.3507 will be met today with ease as the current price action indicates a possible […]
USD/CAD Elliott Wave Since our last analyses the USDCAD pair has been trading upwards, just like we expected, corrective wave .A (coloured black) of the bigger wave A (coloured green) has been developing. Yesterday, during the Asian session we could observe descending movements from 1.0225 towards the 1.0181 level and we can consider this move […]
AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading downwards, just like we expected, corrective sub-wave .A (coloured black) of the bigger wave 4 (coloured green) has finished its developing. Yesterday, during the European session we could observe descending movement from 0.9523 towards the 0.9478 level. Therefore, during the New York […]
General overview for 20/09/2013 08:30 CET Price has stopped going up on technical resistance level at 1.0280 area after making five waves to the downside. This wave up looks impulsive and it might be first wave up after full ABC blue correction wave X is over. I have been expecting this wave to go […]
Yesterday the GBP/USD pair moved in a range because some of the Asian markets are closed for holiday. However, the bias in the long term charts still in the bullish situation. However, in the 30-minute chart this pair is trading below the Exponential Moving Average (50) and the RSI (14) is below the 50 level […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 99.99. Resistance 2: 99.79. Resistance 1: 99.60. Support 1: 99.35. Support 2: 99.16. Support 3: 98.96. DESCRIPTION: Please pay attention to the levels of support 3 (98.96) and resistance 3 (99.99). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but […]
TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.3599. Strong Resistance: 1.3591. Original Resistance: 1.3578. Inner Sell Area: 1.3565. Target Inner Area: 1.3533. Inner Buy Area: 1.3501. Original Support: 1.3488. Strong Support: 1.3475. Breakout SELL Level: 1.3467. DESCRIPTION: Today EUR/USD has support and resistance at 1.3488 and 1.3578. The rate is accompanied by strong support at 1.3475 […]
Today’s Support and Resistance levels: R3: 1.6348 R2: 1.6263 R1: 1.6193 Current Spot: 1.6161 S1: 1.6111 S2: 1.6073 S3: 1.6011 Technical summary: As long as resistance at 1.6263 and, more importantly, as long as important short-term resistance at 1.6348 protects the upside we should be expecting a move lower towards 1.6011, as the next downside […]
Today’s Support and Resistance levels: R3: 135.60 R2: 135.20 R1: 134.94 Current Spot: 134.41 S1: 134.20 S2: 134.05 S3: 133.87 Technical summary: Red wave 3 is still developing; for the short term we should expect support at 134.05 and may be a slightly lower support at 133.87 to protect the downside for a rally […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways; around the price 1.6153 we are still waiting for more downward movement. 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 […]
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 it 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 to the […]
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, […]
