EURUSD: The fundamentals have clearly had positive impact on EUR/USD – either directly or indirectly. The pair continues to trend upwards in a slow and steady manner, rejecting any bearish threats along the way. It is expected that the price would soon be trading above the market line of 1.3350. USDCHF: This pair is also […]
The Dollar Index mainly influenced by the sharp rise in EURUSD and the steep drop in USDJPY has broken 81.50-40 support and produced a new low at 81.09. This is not a good sign for the bullish expectation we have for USD and puts in danger our longer-term bullish scenario. Short-term trend is down and […]
Daily chart: The USDX is trying to consolidate below the 200-day moving average, after falling below the support level of 81.50. It’s likely that the USDX will fall to the next support at 80.62, but during this fall the USDX can form a higher low pattern. On the other hand, if the USDX manages to […]
Gold bounced upwards yesterday towards 1,296 after respecting thу support at 1,270. The 1,260-70 is very important support zone that is crucial for our bullish alternative wave scenario that we’ve been talking about for so long. We still prefer the bearish wave scenario as our primary choice and we still remain short with 1,320-30 stop. […]
Daily chart: USDJPY fell deep below the support level of 97.59. Recently, it has touched the support level of 96.38. It is very likely that this pair will begin to form a higher low pattern to strengthen its bearish trend further. If the pair manages to break that level, it is expected to fall to […]
Yesterday the Australian dollar managed to place above the bullish fractal. The fact that this pair was able to return and rise above the daily fractal is a potential key to a recovery of the Aussie. Therefore it is recommended to continue buying above the level of 0.8905 and at this moment of writing […]
The EUR/USD pair remains above 1.33 but shows a low, upward velocity. The trend and momentum indicators are located within the area of potential downside, testing the resistance of the MACD. We would have to see a strong break of resistance in the short term at 1.3370, for a turnaround because the euro’s rise in […]
The British pound fell sharply to 1.5204 level and in a matter of two hours rebounded to the level of 1.5474. Due to the inflation report from the Bank of England, it is traded at this time, the highest since June 24. However, we see that the pair has momentum upward to above the […]
Strong bullish sentiment was expected to be found off the support zone around 1.4830 which pushed the pair to the upside reaching 50% Fibonacci level around 1.5275 then 1.5400 corresponding to 61.8% Fibonacci level. The bearish rebound took place beyond 1.5400 followed by confirmation of the double-bottom pattern with a projection target near 1.5100 where […]
The USD/CAD pair rose steeply approaching the key resistance level of the ascending channel around 1.0530 as depicted in the chart. Since then, the pair has 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 1.0380 with a record low […]
Bearish rebound was expressed off important key resistance at 1.5400 located in the chart corresponding to 61.8% Fibonacci Level extending up to 1.5440. This significant resistance managed to put bearish pressure leading towards quick retracement which already bypassed 1.5290, 50% Fibonacci, reaching daily demand level around 1.5200 (the previous uptrend line). Strong bullish pressure was […]
Consolidation above the previously broken uptrend line and SMA 100 has been going on after the pair established a consolidation range between 1.3200 and 1.3300. The weekly candlestick was a pin-bar representing hesitation, this came after 3 successive bullish weekly candlesticks after hiting 1.3300 which is considered an important resistance zone. Moreover, on Monday the […]
Overview: GBP/JPY is trading in a lower range. The pair is undermined by increased risk aversion and Japan exporter sales. But GBP/JPY losses are tempered by demand from Japan importers and positive euro sentiment. Daily chart is negative-biased as MACD & stochastics are in the bearish mode. Trading recommendations: The pair is trading below its […]
Overview: NZD/USD is consolidating after hitting a two-day high of 0.7917 Tuesday. The pair is supported by receding fears about New Zealand’s dairy export as whole milk powder prices fell moderate 1.6% on the GlobalDairyTrade internet-based auction for Aug. 6; Kiwi demand is on soft AUD/NZD cross. But Kiwi sentiment is dented by higher-than-expected NZ […]
Overview: USD/JPY is consolidating with the bearish bias after hitting a six-week low of 97.50 Tuesday. The pair is undermined by flows to safe-haven JPY and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 7.43%, to 12.72, S&P fell 0.57% overnight) on prospects of stimulus withdrawal by the Federal Reserve […]
Overview: USD/CHF is consolidating after hitting a four-day low 0.9236 Tuesday. The pair is undermined by flows to safe-haven franc amid increased risk aversion. But USD/CHF losses are tempered by franc sales on buoyant EUR/CHF cross amid positive euro sentiment. Daily chart is still negative-biased as MACD & stochastics are in the bearish mode. Trading […]
EURUSD: The indicators in the chart have still favored bullish signals on this pair, and, therefore, the current reversal in the market is weak and will be short likely, giving an opportunity for further long trades. The price could rise upwards to test the resistance line at 1.3350. USDCHF: This is a bear market, 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 05, 2024 April 7, 2024 Potential for the further drop on NAS100 ….The material has…Why is gold defying gravity? – Special Report April 7, 2024 Gold […]
USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading upwards, the corrective wave C (coloured blue) of the bigger (B) (coloured green) has been developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.03469 towards 1.0390 level. Therefore, during the early New York session this commodity […]
AUDUSD Elliott Wave Since our last analyses the AUD/USD pair has been trading lower, just like we expected, final impulsive wave (5) (coloured green) has started developing. During the Tuesday’s Asian session we could observe ascending movement from 0.8929 towards 0.9004 level and we could consider this movement as the end of the corrective wave […]
Overview: Since our last analysis, Gold has been trading downwards, as we had expected. The price tested the level of 1,272.61 on ultra high volume. I placed Fibonacci expansion levels to find the potential end of the ascendant corrective phase. We are still likely to see testing of the weekly FE level 161.8% at the […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around the price of 1.6822. We are still waiting larger move and future uptrend. The price tested the level of 1.6819 due to high volume. Since we have got our first shor-term target at the level of 1.700 I have placed Fibonacci expansion […]
Gold is now testing lower support levels below 1,280. The decline looks impulsive and despite some small pauses in the downward move, resistance levels are not even tested. The trend is descendant and our primary bearish scenario that implied that the move from 1,180 to 1,349 is corrective and becoming stronger day by day. The […]
On Tuesday, news on the UK was strong. UK Manufacturing Production in June grew 1.9% vs. expectations for 0.9%. Industrial Production grew 1.1% vs. estimates for 0.7%. Gross domestic product rose 0.7 percent compared with a 0.6 percent gain in the second quarter, the London-based institute, NIESR. However, the pound closed the day with a […]
The Dollar Index slided lower as buyers pushed EURUSD above 1.33, but it is still in a corrective pattern and there are no real concern for bears. The downward move in USDX has an overlapping pattern and we believe that the break out that is trying to take place now will break resistance at 81.70. […]
On Tuesday, data from the Eurozone was strong. Italy’s Industrial Production in June grew 0.3%. It was lower than a 0.5% rise forecasted earlier. However, it was better than a 0.1% rise observed in May. Italy’s GDP in the second quarter dropped 0.2% vs. estimates for -0.4%. Germany’s Factory Orders in June grew 3.9% vs. […]
General overview for 07/08/2013 09:30 CET Wave progression is developing exactly according to the main count: an impulsive wave to the upside has just broken out the SUPPLY area at 1.0400 and it looks like the next meaningfull resistance is at 1.0439 – 1.0445 zone. There is one more resistance along the way: 50% Fibo […]
General overview for 07/08/2013 09:00 CET: Intraday Resistance area mentioned yesterday was not broken, in fact the price did not even touch the level of 132.75. It looks like the price might be developing the extended wave v to the downside now with first target at 128.55. Then some corrective price action is expected that […]
August 7th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Find us on social media to be kept up to date with the latest ETX Capital news: Facebook: https://www.facebook.com/#!/ETXCapita… Twitter: https://twitter.com/#!/etxcapital LinkedIn: http://www.linkedin.com/company/44542… ETX Capital’s RSS site: http://my.etxcapital.co.uk Related Posts:Behind the scenes of Wall Street’s rise: the impact of… April 8, 2024 At the […]
Daily chart: The CL failed to consolidate above resistance at 106.70 level and formed a fractal. Now, the CL is falling and it is very likely that this fall extends to the support at 103.85 level. If the CL manages to break that level, it is expected to fall to the level of 100.33 and […]
