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 0.9200 and 0.9235. 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 around 153 pips […]
EURUSD: EURUSD also traded sideways on Monday, and right now there is a pullback which poses a threat to the current bullish bias in the market. The price has broken the EMA 56 to the downside closing below it. Nevertheless, it is worth waiting for the EMA 11 to confirm the signal before taking a position. […]
The Dollar Index continued to trade below the resistance trendline yesterday. The short-term resistance is found at 81.55-65-75. The short-term support is found at 81.25-05. The trend is neutral and the decline from the recent highs at 81.76 looks corrective as the price action is overlapping. Today, the price has made a short spike above […]
Gold has managed to regain to 1,400.00 and is now heading towards the top of the resistance area at 1,425.00. The price continues to make higher highs and higher lows, therefore, the trend remains bullish. We noted that this price area that we are close now is a very important resistance area. 1,410-25.00 is resistance […]
General overview for 27/08/2013 10:00 CET The range between the technical support at 1.0532 and the intraday demand zone at 1.0498 is being traded right now and sooner or later one of these levels will give up for further wave development. The possibility of slightly higher wave (b) that would top at 1.0551 – 1.0558 area still […]
Markets are risk off today and focus has turned to geopolitical risk as the Syrian crisis has come to the fore ever since U.S. Secretary of State John Kerry said on Monday that President Obama will hold Syria’s government accountable for using chemical weapons. Flight to safety drove currency markets, with flows seen to safe […]
Wave analysis: Yesterday there were no considerable changes in the GBP/USD wave structure, the pair was trading in the narrow price staying under the level of figure 56. Thus, current situation accepts the possibility of further decline of downward correction towards the lower line of ascending channel passing at the moment near the level of […]
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 08, 2024 April 8, 2024 Potential for the breakout on the USD/JPY…. The material has…Market Comment – Stocks climb after sizzling US jobs report April 8, […]
Yesterday data on US Durable Goods Orders in July was weak. Durable Goods Orders dropped 7.3% vs. estimates for -3.0% and revised downwardly June’s figures from 4.2% to 3.9%. Durable Goods Orders ex Transportation fell 0.6% vs. forecast for a 0.6% growth. However, the US dollar was bought against news releases. Amid the news the […]
The German Ifo business index for August rises more than expected which is good news for Europe and outlook for its economic recovery. Germany is the Euro zone’s largest economy so the data is important, especially for the euro. The Ifo index rose to 107.5 in August from a reading of 106.2 in July. This […]
General overview for 27/08/2013 09:45 The pair has developed a downside wave as it was indicated yesteday. Currently, trading is going on in the grey rectangle zone, which is crucial for further wave development. A break of the lower level of Supply Breakthrough Zone at 130.83 will make a test of the golden channel line […]
Today’s Support and Resistance levels: R3: 1.7182 R2: 1.7143 R1: 1.7110 Current Spot: 1.7082 S1: 1.7042 S2: 1.6989 S3: 1.6936 Technical summary: We have seen wave i from 1.6325 to 1.7197 of a new major impulsive rally. Currently, we are in wave ii correction, which ideally will correct 38.2% of wave i. That will call […]
Today, the EUR/JPY seems moving in the range between 131.25 and 132.00. it has been already confirmed by: 1. The market price appears above the EMA 100(green) and bellow the EMA 34 (blue). 2. The EMA 50 (red) position is bellow the EMA 34 (blue) and above EMA 100 (Green). RECOMENDATION: SELL Stop (Pending Order) […]
August 27th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened lower today, as investors avoided riskier assets amid concerns over a possible US military intervention in Syria. However, losses were somewhat kept in check, as data showing an increase in China’s industrial profits fuelled optimism that the Chinese economy is […]
The Asian session Tuesday was quiet because there were no economic data releases. Major currency pairs drifted while the yen gained ground due to safe haven flows. The Japanese currency is perceived as a safe asset and tends to strengthen during periods of financial turmoil because Japan isn’t reliant on foreign capital to fund its […]
Daily chart: During yesterday’s session, the USDX did not make any significant movements for the development of a stronger trend. By contrast, the current USDX movements show the market is surrounded by much uncertainty due to the current situation in Syria, so we must be aware of the reaction of the USDX to this situation. […]
Daily chart: GBPUSD is forming a lower high pattern above the support level of 1.5506 and above the SMA 200. Today’s session can be crucial in the development of the trend on this pair because it is still above the SMA 200. However, if the pair manages to break the support level of 1.5506, development […]
TODAY’s TECHNICAL LEVELS: Resistance. 3: 98.69. Resistance. 2: 98.50. Resistance. 1: 98.31. Support. 1: 98.07. Support. 2: 97.88. Support. 3: 97.68. DESCRIPTION: Please, pay attention to the levels of support 3 (97.68) and resistance 3 (98.69). 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: 1.3444. Strong Resistance: 1.3436. Original Resistance: 1.3423. Inner Sell Area: 1.3410. Target Inner Area: 1.3378. Inner Buy Area: 1.3346. Original Support: 1.3333. Strong Support: 1.3320. Breakout SELL level: 1.3312. DESCRIPTION: Today, EUR/USD has support and resistance at 1.3333 and 1.3423. The rate is accompanied by strong support at 1.3320 […]
Today’s Support and Resistance levels: R3: 131.98 R2: 131.74 R1: 131.52 Current Spot: 131.43 S1: 131.24 S2: 130.80 S3: 130.39 Technical summary: Currently, the price of the pair is developing the final e-wave of the symmetric triangle. We expect wave e to fall towards 130.18 and, maybe, even lower towards 129.61 before next powerful rally […]
The U.S. dollar see-sawed up and down against the yen today, after taking a hit from a decline in U.S. durable goods orders. The data raised further doubts about the prospect of a reduction in Fed stimulus next month. Durable goods orders for long-lasting U.S. manufactured goods fell 7.3 percent in July, the most in […]
Overview As it was expected last week, Silver would take an upward move after its rebound from the bullish trend line and breaking the Resistance level 23.35 and currently is approaching the Resistance level 24.40 trying to break it through to continue its bullish move. More buy signals would be provided in case of […]
Overview As shown on the today’s H4 chart, this week the pair has opened below the Resistance level 154.50 and outside the bullish channel which means the pair will almost reverse its bullish move this week, it takes a downward move. Today the pair has already started its downward move after it had hit […]
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 1.0380 with a record low of […]
Consolidation above the previously broken downtrend depicted in the chart goes on for the 8th day in a row. This took place after finding solid supply around 1.3200. The previous weekly candlestick had a small bullish body representing failure of the bulls to close above the high of the precceeding weekly candlestick at 1.3380. On August 20, the […]
Strong bullish pressure was seen during retesting 50% Fibonacci, resulting in bullish engulfing candlestick extending further above 1.5400 (61.8% Fibonacci). This opened the way directly to 78% Fibonacci around 1.5550 which constituted temporary intraday resistance that held the price below for 5 days before bullish breakout took place on August 15. The cable established ascending […]
Daily time frame Ishimoku: On the daily time frame the euro maintains uptrend and is testing Golden Cross, but now the growth slowed down (if we compare it with the beginning of uptrend). The current signal for opening long position that was proved by Chinkou Span is above the price chart. Besides, it is […]
Weekly technical levels: Intraday trading recommendations: EUR/USD: According to previous events, the price has still been trapped between 1.3350 and 1.3380. The level of 1.3297 will indicate strong support. Moreover, the price will form a double bottom at this level. Therefore, it will be wise to buy at 1.3297 with the first target […]
Weekly technical levels: Trading recommendations: GBP/USD: According to the previous events, the price has still been trapped between 1.5570 and 1.5600. Buy above 1.5500 with the first target of 1.5570, it might resume to 1.5605. Below 1.5630 look for further downward movement with 1.5536 and 1.55 targets. Notes: The level of 1.5536 will be […]
