Daily chart: The USDX has rebounded in the 200-day moving average near the 81.81 level. Now, the USDX is trying to break the support at the 81.50 level and this could be a possible continuation of the overall bearish trend in the USDX, so this drop could be extended to the support level of 80.62. […]
Daily chart: USDJPY has made a bearish rebound in resistance at the level of 98.25. Now, this pair has touched the support at 97.59 and if it is broken, it is expected to fall to the level of 96.38. However, this can be formation of a lower high pattern and if the USDJPY pair manages […]
August 15th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets opened slightly lower this morning, as investors observed caution amid persistent concerns over Fed’s timing of reducing its stimulus measures, even as data from Eurozone showed upbeat economic growth. Closer home, investors await data from UK which is expected to show that […]
UK Claimant Count Rate was at the same level, 7.8%. Meanwhile, Claimant Count Change was -29.2K vs. forecast for -14.3K and data from June was revised downwardly from -21.2K to -29.4K. The bank of England Meeting Minutes showed that the members of the committee voted unanimously for the preservation of bond buying program without changes. […]
Strong data on GDP in France, Germany, and the Eurozone did not provoke single reaction of the European currency. Germany’s GDP in the second quarter grew 0.7% vs. forecast for 0.6%, the Eurozone’s GDP rose 0.3% vs. expectorations for 0.2%. It looks like the investors do not take into account the European news, the expectations […]
Technical outlook and chart setups: The metal could be setting up to push higher above 1,348/50 soon enough. Initial support comes in at 1,315/17, followed by 1,270.00 and lower; while resistance is at 1,348/50, followed by 1,390/1,400, respectively as depicted here. It is recommended to exit short positions opened before and remain flat for now. […]
Technical outlook and chart setups: As depicted here, the price have rallied beyond 130.00 earlier, before re-tracing to 1.2980, at the moment. It looks like a retracement is due towards 1.2850/1.29, at least, before any further rally higher. Furthermore, it is still possible for the price to print lower lows till the time it does […]
Technical outlook and chart setups: It stopped out of short trades earlier. As depicted here, the longer-term downtrend line is passing across the price now. Furthermore, fibonacci 0.618 resistance of the late downswing from 1.48 to 1.4, is passing through the prices at the moment. Immediate resistance is at 1.48, followed by 1.5 on the […]
Daily Graphic At the end of Wednesday’s session, Crude oil closed its fourth consecutive day upwards. After meeting the weekly inventory report showed a larger than expected drop. Operators can expect oil prices rise the expectations of lower inventories and Libya supply concerns can further support prices. In 4-hour chart, we can see the crude oil […]
TODAY’s TECHNICAL LEVEL : Resistance. 3: 98.63. Resistance. 2: 98.43. Resistance. 1: 98.24. Support. 1: 98.00. Support. 2: 97.81. Support. 3: 97.61. DESCRIPTION: Please, pay attention to the levels of support 3 (97.61) and resistance 3 (98.63). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, […]
TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3329. Strong Resistance: 1.3321. Original Resistance: 1.3308. Inner Sell Area: 1.3295. Target Inner Area: 1.3264. Inner Buy Area: 1.3233. Original Support: 1.3220. Strong Support: 1.3207. Breakout SELL Level: 1.3199. DESCRIPTION: Today, EUR/USD has support and resistance at 1.3220 and 1.3308, respectively. The rate is accompanied by strong support at […]
Yesterday, the level of 130.50 acted as strong resistance and it caused EUR/JPY surge to 129.75. However, all the moving averages are still making a “Golden Cross” pattern which indicates the upside situation but unfortunately this currency pair has already touched the EMA 100 (green), and it indicates the EUR/JPY uptrend will finish. RECOMMENDATION : […]
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 […]
Supply levels: 1,340.20, 1,370.40, and 1,423.30. Demand levels: 1,315.00, 1,282.00, 1,266.00, 1,255.10, and 1,209. Bullish breakout above previous congestion zone extending between 1,265-1,298 took place, the bullish momentum was confirmed with previous Friday’s price action (bullish hammer). However, a lack of bullish steam after hiting 1,347.8 led to a strong dip down below 1,282.95 (the recent […]
This significant resistance around 1.5400 managed to put bearish pressure leading towards quick retracement reaching daily demand level around 1.5200 (the previous uptrend line). Last week, strong bullish pressure was applied at 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 […]
Daily Graphic Crude oil prices remain in the 106.25, trading at 106.30 right now. Due to the increase achieved during Tuesday’s session now the line 6/8 (red line) Murrey line becomes important support. Possibly black will again test its downtrend line located around 108.30. A second possibility is that these price levels again stand […]
Daily Graphic The better than expected data from the U.S. boosted the dollar against major currencies during New York session. U.S. retail sales rose 0.5% in July, up from the estimate of 0.4%, while the overall figure showed a rise of 0.2% as expected. Moreover, the headline figure June was revised from 0.4% to 0.6%, while […]
GBP/USD: Resistance: 1.5650 (sell below this level). Support: 1.5426 (buy above this level for retesting this level for a short period). Trend (time frame: H1/H4): Upward (there is still an ongoing bullish trend). Range: 125 pips (for two days). Trading recommendations: According to the previous events, the price is still between the levels of […]
Overview: The resistance of USD/CAD sets at the level of 1.0425, therefore the bears are going to sell below 1.0425 because there is a double top on the price of 1.0425. So it should also be noted that the resistance sets at the level of 1.0425, thus swing trade at 1.0430 in order to sell […]
Overview: Since our last analysis, Gold has been trading sideways around the price of 1,324.00, we are waiting for a deeper downward movement. We are still, likely, to see testing of the weekly FE level of 161.8% at the price of 1,151.00. I saw supply bar on low volume, according to the daily chart, which […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around the price of 1.6542, we are still waiting for a larger move and future uptrend. Since we have got our first short-term target at the level of 1.700 I have placed Fibonacci expansion to find next target level and I have got […]
USD/CAD Elliott Wave Since our last analysis the USDCAD pair has been trading upwards, just like we expected, we can say that the bullish move from 1.0275 is complex correction in the 2 wave (coloured blue). Yesterday, during Asian and European sessions we could observe an ascending movement from 1.0301 towards 1.0336. Therefore, during the New […]
General overview for 14/08/2013 10:30 The pattern that fits the most to the current corrective wave (ii) is (a) (b) (c) Irregular Flat pattern and currently I’m looking for a potential top for the last wave (c) of wave (ii) to enter a short position for the best possible price. There are two scenarios here […]
AUDUSD Elliott Wave For the last few days the AUDUSD pair was trading downwards with a lot of overlapping and we think that bearish move from 0.9221 is correction X of wave (coloured blue) of the bigger (4) wave (coloured green). Yesterday, during the Asian session we could observe ascending movements from 0.9100 towards 0.9147. Therefore, during 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:Forex forecast 04/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin… April 9, 2024 We introduce you to the daily updated section of Forex…Video market update for April 09, 2024 April 9, 2024 Potential […]
The Dollar Index was influenced positively by the sharp decline in EURUSD and the sharp rise in USDJPY. It has reached our first short-term target at 81.75. The price moves upwards impulsively and we take into consideration the fact that both EURUSD and USDJPY move impulsively in favor of the dollar, then we should expect […]
Gold prices broke down yesterday from the upward sloping trend line that supported the short term uptrend at 1,331. The price fell towards the support at 1,315 and the fact that the price got rejected once again at 1,340-50 is a bearish sign. The price are moving downwards and bulls should be exited when it […]
Yesterday, data on inflation in the UK in July was a bit lower than forecast. Core Consumer Price Index was 2.0% vs. forecast for 2.3%. Consumer Price index was 2.8% against a wide range of expectations 2.3%-2.8%. The pound was under considerable speculative pressure on high volumes and it closed the day at the same […]
Yesterday, data on the Eurozone and the US was better than expected. Industrial production in the Eurozone in June grew 0.7% (forecast 1.1%, but figures from May were negative, -0.2% (revised upwardly from -0.3%), which can be considered as a positive factor. ZEW Survey (Economic Sentiment) in August grew up to 44.0 vs. expectations for […]
