Australia’s dollar was the best performer in Tuesday’s Asian trading, moving higher after Chinese data beat forecasts. China’s Industrial production rose 10.4 percent from a year earlier, accelerating from July’s 9.7 percent advance. Retail sales increased by 13.4 percent compared to August last year. The Aussie which is often sensitive to data from China because […]
The U.S dollar is broadly weaker against the euro and sterling as well as against growth-linked currencies like the Australian and Canadian dollars. Friday’s weaker-than-forecast U.S. jobs data weighed on the USD as investors re-evaluate the timing of the Fed tapering, which they expected to be in September. The euro rallied sharply today as a […]
The EUR/USD pair has been finding solid Supply around 1.3400 representing failure of the bulls to close above the high of the preceding weekly candlestick at 1.3380, which applied bearish pressure again on the pair during last week, despite the bullish closure of the previous weekly candlesticks. Last week, the EUR/USD pair managed to have a […]
Strong bullish sentiment was found in the support zone around 1.4830, which pushed the pair to the upside reaching 1.5275 corresponding to 50% Fibonacci level, 1.5400 corresponding to 61.8% Fibonacci level, then 78% Fibonacci around 1.5533. The uptrend line around 1.5430-1.5400 applied bullish pressure on the pair which was able to reach 1.5680 which corresponds to last […]
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 […]
In response to the growing demand of traders and investors for the free live forex educational events of XM, on 7 September 2013 the latest seminar was successfully hosted in the Hungarian capital, Budapest. Presented by professional trader and forex instructor Attila Szoboszlai, the seminar and workshop entitled Swing Trade or Day Trade. The Trader […]
The Canadian dollar gains versus the U.S. greenback after the release of Canadian building permits data which rose to a record in July, up 20.7 percent from June. The total value of building permits continued to trend upward on the strength of six gains in seven months. The gain exceeded all 10 forecasts in a […]
Daily chart: The USDX found strong resistance at the 82.51 level, and now the USDX has fallen to the level of 82.12. This could mean the formation of a lower high pattern, but if the USDX does fall to support at the 81.50 level, that could be an indication of a trend change. However, if […]
Weekly technical levels: Trading recommendations: USD/CHF: According to the previous events, the price of the USD/CHF pair is still between the levels of 0.9380 and 0.9345. Moreover, it should be noted that the market was so stable and the trend was also too clear (downward), as well as the range was […]
Weekly pivot point: Trading recommendations: GBPUSD: According to the previous events, the price has still been trapped between 1.5700 and 1.5650. Long buying: Buy above 1.5605 (the weekly pivot point) with the first target at 1.5681 in order to form a double top, it might resume to 1.5706 to test the first resistance for September […]
Weekly pivot point: Overview: The EUR/USD pair has broken a major resistance at 1.9290. Moreover, it should be noted that the weekly pivot point is calculated at 1.3171 and it is now approaching from it. Therefore, an upside movement will probably start at this area and recovery will begin again. Thus, the market will […]
Overview: Since our last analysis Gold has been trading sideways around the price of 1,386.00. 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 1,151.00. I saw supply bar on the volume above the […]
Overview: Since our last analysis the EUR/NZD pair has been trading sideways around the price of 1.6480. We are still waiting for the upward movement and testing the level of 1.7360. Since we broke FE 161.8 %,we may see testing FE 261.8 % at the price of 1.6320 before we start with upward movement. The […]
Monthly chart After the close last week with a bullish candle and the imminence of an attack on Syria by the U.S., today, Crude Oil looks to continue its rise and may seek to break the last peak which was at 112.22 and even the peak of May 2011, which was at 114.82. Delays in […]
The euro gained against the U.S. dollar in Monday’s European session after being supported by the positive Sentix sentiment data. The September Sentix index showed sentiment in the region turned positive for the first time in more than two years as investors believe the recession is ending and have a more positive outlook for the […]
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 24, 2024 April 24, 2024 Potential for the downside movement on the NAS100The material has…Forex forecast 04/24/2024: EUR/USD, USD/CAD, Oil and Bitcoin… April 24, 2024 We […]
General overview for 09/09/2013 10:00 CET The price has gap up after the weekend and now it is trying to hold the gap. Any kind of acceleration to the downside after the gap is closed would confirm the impulsive bearish scenario. For more confirmation of downward wave i at 129.87 should be taken out and […]
On Friday, German data was weak. Trade Balance was 14.5 billion vs. forecast for 15.9 billion. Industrial production in July dropped 1.7% vs. expectations for a 0.3% drop and a 2.0% growth in June (revised downwardly from 2.4%). Only weak data on US Non-Farm Employment Change gave some hope to the investors that QE3 will […]
The Dollar Index has broken down on Friday and is now trading just above 82.10. Raising the stop for bulls to 82.40 on Friday protected the long positions and the index is still trading lower. The upward move from 81.10 is most probably over and the index is now in a corrective movement. This downward […]
Gold prices were very volatile on Friday. After reaching our 1,360 target, prices spiked upwards and reached 1,394. The resistance at 1,400 still holds and prices seem unable to break above that level. Gold prices are expected to move lower once again as long as prices trade below the 1,400 resistance. The first bearish confirmation […]
General overview for 09/09/2013 09:00 CET A highy anticipated wave C to the downside finally materialized and the price has taken out the levels of 1.0470 and 1.0400, stopping at 61% Fibo 1.0385. The impulsive bullish count has been invalidated due to wave 1-4 overlapse. Because of larger time frame cycles all moves are in […]
USDJPY on the Hourly Chart experienced a short-lived burst in early Monday trading in reaction to China data but the pair subsequently was unable to break above the key 100 yen resistance level as the dollar is being weighed by Friday’s disappointing U.S. nonfarm payrolls. However in the long term a bullish turnaround is still […]
USD/CAD Elliott Wave For the last few days, the USDCAD pair has been trading downwards in an impulsive structure, we are counting the move from 1.0550 as impulsive wave 1 (coloured blue).During the Friday’s Asian and European sessions we could observe descending movement from 1.0515 towards the 1.0487 level. Therefore, during the New York session this […]
AUD/USD Elliott Wave Last week, the AUDUSD pair was trading upwards, corrective wave C (coloured blue) of the bigger wave (4) (coloured red) was developing. During the Friday’s Asian and European sessions we could observe ascending movement from 0.9125 towards the 0.9175 level.Therefore, during the New York session this major pair continued trading with the bullish mood and the price […]
Overview: USD/JPY is trading in a range. USD/JPY is supported by Tokyo’s win in race to host the 2020 Olympics; the yen trades amid improving risk appetite as the global growth outlook brightened after China’s trade surplus widened more than expected to $28.6 billion in August (versus $20.4 billion forecast) from $17.8 billion in July, […]
Overview: GBP/JPY is trading in a higher range. Supported by improved investor risk appetite; demand from Japan importers. But GBP/JPY upside is limited by Japan exporter sales. Daily chart is mixed as MACD is bullish, the five-day moving average is above 15-day MA and advancing; but stochastics is turning bearish. Trading recommendations: The pair […]
Overview: USD/CHF to trade with bearish bias. Undermined by negative dollar sentiment; the franc demand in retreating EUR/CHF cross. Data focus: 05.45 GMT Switzerland August unemployment, 07.15 GMT July retail sales. Daily chart is mixed as MACD is bullish, the five-day moving average is above 15-day MA and advancing, but stochastics is turning bearish and […]
September 9th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. Equities trade broadly flat Monday, with Syria and tapering concerns being balanced off by the overnight gains in Asian markets after data from China and Japan enthused the market over the outlook for both economies. Data out of China indicated that inflation remained subdued […]
The Australian dollar hovers at a three-month high against the U.S. dollar on Monday, being supported by upbeat China data as well as news of an election victory by Conservative Party leader Tony Abbott over the weekend. Abbott’s Liberal-National Party coalition had won around 52.6 percent of the national vote, and projected it would win […]
Japan won the bid to host the 2020 Olympic Games in Tokyo after the International Olympic Committee announced the news over the weekend and the stock markets in Tokyo were quick to react at the start of trading on Monday. The Nikkei opened up almost 3.0 percent as investors speculated there would be a boom […]
