Markets started the new trading week with a more upbeat tone, with China manufacturing PMI data lifting risk sentiment. The PMI index rose to a 16-month high in August, signalling that China, which is the world’s second largest economy, is strengthening after a two-quarter slowdown. PMI gave a reading of 51.0 when released on Sunday, […]
The markets focus apparently has turned back on Syria late on Friday, just when early in the global day fears of a military strike had eased. However in the U.S. session, markets were roiled again after remarks from U.S. President Obama and Secretary of State John Kerry. During a press conference today Secretary John Kerry […]
Overview: Since our last analysis the EUR/NZD pair has been trading sideways around the price of 1.7039. We are waiting for upward movement and testing the level of 1.7360. The current situation in (4H) timeframe is that we have got upward move on increasing volume. That is a sign that the downward corrective phase ended […]
Overview: Since our last analysis Gold has been trading sideways around the price 1,394.00. We still may expect testing the level of 1,440.00 before any large descending movement. We are still, likely, to see testing the weekly FE level of 161.8% (Weekly third target) at the price of 1,151.00. I saw no supply bar on […]
NZD/USD: Trading recommendations: According to the previous events, the price is still between the levels of 0.7735 and 0.7783. The descending movement will probably be lower than the 0.7853 level with the first target at 0.7735 and 0.7686, then the trend will form a double bottom at the price of 0.7686. Buy deals are […]
Overview: The EUR/USD’s support was broken and turned to resistance on 24th of July 2013, thus the pair has already formed strong resistance at 1.3495. Moreover, after it could not close above 100% Fibonacci retracement levels it started indicating a bearish market, the price has been placed below 78% Fibonacci within three days in the […]
EURUSD: This pair has moved downwards by more than 150 pips this week. It is trading below the resistance line of 1.3250, the next price target may be the support line at 1.3200. It should be noted that the resistance line at 1.3300 is a serious barrier to any bullish threats. USDCHF: USDCHF has gone […]
Currency markets were calm in the European session after a busy week and investors are digesting all the week’s events ahead of the weekend while they prepare for what is expected to be an even busier week ahead. There will be a slew of very important economic data releases, which include the all-important nonfarm payrolls […]
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, […]
The main characteristic in the price action of the Dollar Index is the fact that it is moving upwards in an impulsive wave formation rather than a corrective one. This confirms our view that it is very possible to witness a trend reversal and that the upward move will continue higher to challenge the med-term […]
Gold turned lower yesterday confirming our view that it is time for a correction towards 1,370. This is the first major support and we could see a pause of the decline at that price level. Gold has topped the mark of 1,430 and as we mentioned a pull back was imminent. Our first sell signal […]
Wave analysis: Despite the potential, during yesterday’s trading session the GBP/USD pair could not develop considerable downward movement, staying for the whole day near the level of figure 55. Meanwhile, as it was the day before it, inner wave structure assumed wave c looks uncompleted. If it is so, the currency pair has a chance […]
USD/CAD Elliott Wave Since our last analysis the USDCAD pair has been trading upwards, just like we expected, corrective wave C (coloured blue) of the bigger wave (B) (coloured green) has been developing. Yesterday, during the Asian and European sessions we could observe ascending movements from 1.0478 towards the 1.0515 level. Therefore, during the early New York session this commodity pair […]
AUD/USD Elliott Wave Since our last analysis the AUDUSD pair has been trading downwards, corrective wave B (coloured black) of the bigger wave .A (coloured green) has been developing. Yesterday, during the Asian and European sessions we could observe strong descending movement from 0.8977 towards the 0.8920 level. Therefore, during the New York session this major currency continued trading in […]
General overview for 30/08/2013 08:30 CET Recent wave development still looks like a triangle, even more complex and time consuming. The current price range is limited by two factors: – The first is the technical support at 129.66 – The second is the intraday resistance at the 130.41 – 130.55 zone. In this case there […]
General overview for 30/08/2013 08:00 CET The price is still in a range between technical support and the round number level of 1.0500 and the recent high at 1.0567. This kind of overlaping price action indicates that the possible upside leg is not finished and the price is currecntly in corrective consolidation cycle of wave […]
On Thursday, the situation was developing negatively for the euro. Early in the morning the investors started to act in advance and their expectations were reasonable; US GDP in the second quarter in the second estimate was revised upwardly from 1.7% to 2.5%, forecast was 2.2%. The Asian banks were initiators of US dollar purchases. […]
August 30, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. Visit http://www.etxcapital.co.uk/ Find us on social media to be kept up to date with the latest ETX Capital news: Facebook: https://www.facebook.com/#!/ETXCapitalGroup Twitter: https://twitter.com/#!/etxcapital LinkedIn: http://www.linkedin.com/company/445425?trk=tyah ETX Capital’s RSS site: http://my.etxcapital.co.uk/ Related Posts:US CPI data unlikely to ease sticky inflation worries, but… April 8, 2024 […]
Daily chart: The USDX was able to break very strong resistance at the 81.50 level and now it is consolidating above the 200-day moving average. It is likely that the initial USDX form is a lower high pattern to continue move upwards to the next resistance level at 82.51. However, we must be very careful […]
Daily chart: GBPUSD is finding strong support at the level of 1.5506. If the pair manages to break this level, it is expected to fall to the level of 1.5407, below the 200-day moving average. For now, there is a possibility that GBPUSD will do a bullish rebound at the current levels and rise to […]
Today’s Support and Resistance levels: R3: 1.7144 R2: 1.7095 R1: 1.7066 Current Spot: 1.7033 S1: 1.7005 S2: 1.6968 S3: 1.7005 Technical summary: With a break below 1.6996 we knew that wave ii had not finished yet and that it was expanded flat correction (the top of wave b ended higher than the top of wave […]
Today’s Support and Resistance levels: R3: 131.37 R2: 131.04 R1: 130.56 Current spot: 130.02 S1: 129.88 S2: 129.65 S3: 129.24 Technical summary: The price action was very slight. The pair traded sideways in a narrow range between 129.64 – 130.56. As long as the minor resistance at 130.56 protects the upward move, we can see one […]
TODAY’s TECHNICAL LEVELS: Resistance. 3: 98.74. Resistance. 2: 98.55. Resistance. 1: 98.35. Support. 1: 98.11. Support. 2: 97.91. Support. 3: 97.72. DESCRIPTION: Please, pay attention to the levels of support 3 (97.72) and resistance 3 (98.74). Normally, when a level is touched, USD/JPY rebounds from the previous minimum by 10 to 20 pips, but if […]
TODAY’s TECHNICAL LEVELS: Breakout BUY level: 1.3304. Strong Resistance: 1.3296. Original Resistance: 1.3283. Inner Sell Area: 1.3270. Target Inner Area: 1.3239. Inner Buy Area: 1.3208. Original Support: 1.3195. Strong Support: 1.3182. Breakout SELL level: 1.3174. DESCRIPTION: Today, EUR/USD has support and resistance at 1.3195 and 1.3283. The rate is accompanied by strong support at 1.3182 […]
Since yesterday the level of 130.00 has acted as strong support for the EUR/JPY pair. Even the market is still affected with bearish pressure, which has been already indicated by all the three moving averages, the pair is still making a “Death Cross pattern”. After this level a strong barrier at the 130.00 level can […]
Currency markets were calm in the Asian session as would be expected for a Friday, while the Syrian crisis is less of a worry for the moment as the odds of an immediate strike appeared to recede. The U.K. parliament on Thursday voted down a military strike on Syria. Major pairs mostly consolidated and the […]
Overview From today’s H4 chart we see that the metal is still trading between the Support level of 23.90 and below the Resistance level of 24.40. After its failure to break the Resistance level yesterday and the bounce from it it took a slightly downward move and currently it is re-testing the Support level […]
The U.S. dollar rallied against most major counterparts on Thursday after positive economic data. GDP accelerated faster than forecast and jobless claims fell. This raises the case for the Federal Reserve to reduce stimulus as soon as next month. GDP rose at a 2.5 percent annualized rate, up from an initial estimate of 1.7 percent. […]
Strong bullish sentiment was expected to be found at the support zone around 1.4830, which pushed the pair to the upside reaching 50% Fibonacci level around 1.5275, 1.5400 corresponding to 61.8% Fibonacci level, then 78% Fibonacci around 1.5533. Some bearish rebound took place off 1.5400 towards 1.5100, where an ascending bottom was established on August […]
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 of 1.0450 and […]
