USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has been trading upwards, corrective wave A (coloured green) of the bigger wave (2) (coloured blue) has been developing. Yesterday, during the early Asian session we could observe strong descending movement from 1.0353 towards the 1.0282 level and we can consider this move as the end of the impulsive […]
AUD/USD Elliott Wave Since our last analyses, the AUDUSD pair has been trading downwards, just like we expected, impulsive wave .1 (coloured black) of the bigger wave 1 (coloured green) has been developing. During the Monday’s Asian and European sessions we could observe an ascending movement from 0.9283 towards the 0.9386 level, and we can consider this move […]
Daily chart: The USDX has made a successful bullish rebound at the bullish trendline, and now, it is very likely that the USDX rises to the resistance at the 81.50 level to fill the gap left when opening this week. For now, it is highly recommended to follow with buy orders and not short orders […]
Daily chart: The GBPUSD pair continues to fall and is about to touch the support at the 1.5883 level, which left a bullish gap to open this week. If the pair manages to break that level, it is expected to fall to the level of 1.5746. On the other hand, it is very likely that […]
If we look at the charts, the bias for this currency, according to 4-hour and 60-minute charts is upward. We spotted the divergence between the price action with all the three Oscilators: the MACD (8,17,9), the RSI(14), and the Stochastic Oscilator (5,3,3). We should be aware of the upside movement of this currency pair, especialy, […]
Markets are jittery ahead of key risk on Wednesday when the Federal Open Market Committee (FOMC) meeting and press conference are held. The news released late on Sunday that Larry Summers had dropped out of the Fed chairmanship race triggered a wave of U.S. dollar selling against the majors during the Monday Asian and European […]
Today’s Support and Resistance levels: R3: 1.6421 R2: 1.6364 R1: 1.6348 Current Spot: 1.6307 S1: 1.6276 S2: 1.6227 S3: 1.6189 Technical summary: We are still looking for a break above resistance at 1.6364 to confirm that wave C of the expanded flat correction is finally in place. A break above 1.6364 will not alone confirm […]
Today’s Support and Resistance levels: R3: 133.37 R2: 133.17 R1: 132.64 Current Spot: 132.38 S1: 132.04 S2: 131.63 S3. 131.22 Technical summary: We have been trading in a very narrow 40 pips range since yesterday. We are still looking for a break above 132.64 to confirm that red wave ii is over and red wave […]
TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3401. Strong Resistance: 1.3393. Original Resistance: 1.3380. Inner Sell Area: 1.3367. Target Inner Area: 1.3336. Inner Buy Area: 1.3305. Original Support: 1.3292. Strong Support: 1.3279. Breakout SELL Level: 1.3271. DESCRIPTION: Today EUR/USD has support and resistance at 1.3292 and 1.3380. The rate is accompanied by strong support at […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 99.69. Resistance. 2 : 99.50. Resistance. 1 : 99.30. Support. 1 : 99.06 Support. 2 : 98.87. Support. 3 : 98.67. DESCRIPTION: Please, pay attention to the levels of support 3 (98.67) and resistance 3 (99.69). Normally, when a level is touched, USD/JPY will rebound from […]
In the U.S. session on Monday,currency markets continued to focus on the news surrounding the exit of former Larry Summers from his bid for the Fed Chair. Of course his withdrawal now fuels speculation that the next frontrunner is Janet Yellen who unlike Summers, is more supportive of Bernanke’s quantitative easing measures. Summer was a […]
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 reaching 1.3315-1.3330 last week before the weekly bullish gap took place. Price Zone 1.3330-1.3350 was […]
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 […]
Daily chart After opening with a market gap of almost 60 pips, USD/CHF is currently reacting to the rise and is about to break the line 4/8 (blue line), which was an important support zone by last Friday. The previous resistance area at 0.9290 that the price should break in order to move in search of […]
Weekly technical levels: Forecast: GBP/USD: According to the previous events, the price has still been trapped between 1.5975 and 1.5900. Buy above 1.5800 with the first target of 1.5950, it might resume to 1.600 (peak price). Stop loss should be set below 1.5650. Below 1.6000, look for further downside with targets at 1.5875 and 1.5670. Stop […]
Weekly technical levels: Intraday trading recommendations: EUR/USD: According to the previous events, the price has still been trapped between 1.3350 and 1.3200. The level of 1.3262 will indicate strong support. Moreover, the price will form a double bottom at this level (1.3255). Therefore, it will be wise to buy at 1.3262 with the first target […]
Daily chart Crude oil, after a day of indecision on Friday, on this first day of the week is moving towards lower prices within a range area. It has been moving between 103 and 109 dollars a barrel since joining this area in July of this year. As tensions in Syria continue to dissipate, traders […]
Markets were shocked on Monday after the news of Larry Summers pulling out of the race for the head of the U.S. Federal Reserve post. Summers, who is former U.S Treasury Secretary, was seen as the front runner for the post, set to replace outgoing Ben Bernanke in January 2014. Equity markets rallied while the […]
Overview: Since our last analysis, Gold has been trading sideways, around the price of 1,304.76 on volume above the average, 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 strong supply bar on the volume below the average according to […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways, around the price 1.6261 (FE 261.8 %), 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 high volume demand bars. That is a sign that we may […]
General overview for 16/09/2013 11:30 CET Currently, the price stays in range between 131.65 – 132.38, hoovering around Weekly Pivot level and green Triangle line. Wave (iv) green correction is getting more and more complex and time consuming. The Triagle breakout does not look very conveniencing now and there is a possibility it is a […]
The news of the day about Larry Summers withdrawal of his race for the Fed Chairman post has been the main driver of currency markets today. The dollar fell to a two-week low versus the euro and an eight-month low versus sterling. Summers was seen as more hawkish than other candidates and was likely to […]
Wave analysis: Neither indicators that reverser, nor test of the calculated targets cannot stop the break of the Pound. Thus, during Friday’s trading session the GBP/USD pair managed to grow 110 points more from the low of the Asian trading session reaching the level of 1.5885. Thus, current wave situation gives us prerequisites for assumption […]
General overview for 16/09/2013 11:00 CET On Monday, in Wellington, open price has made a 15 pips gap down (red rectangle) and broke below Friday’s low. Friday’s low of 1.0304 will act as technical resistance now and a breakout above this level is needed to try to fill the gap. From EWP point of view, […]
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:Weekly Forex Outlook: 12/04/2024 – More inflation data on… April 12, 2024 CPI numbers due in the UK and Japan. China to also…Video market update for April 11, 2024 April 11, 2024 […]
The Dollar index gapped down today and is now trading around the 81 support. Prices have pulled back inside of the downward sloping trendline. Support is now found at the 76,4% of Fibonacci retracement. If the 80.76 low is broken, it will be a bad sign for bulls. Moreover, prices, last week, broke above the […]
Gold bounced on Friday as expected towards our target of 1,325-30, where the upper boundaries of the short-term downward sloping channel are. These boundaries were our target for a wave 4 upward bounce. This price action is in three waves and we believe that this is just a corrective upward bounce before the price resume […]
The major drastic feature of last Friday was strengthening of the US dollar against disappointing data on US Retail Sales. Retail Sales grew 0.2% vs. forecast for 0.5%, Retail Sales Ex-Auto grew 0.1% vs. expectations for 0.3%. Expected close of the currency futures was in a very appropriate situation, the investors did not close then […]
