The euro and the pound were the main focus in the European session on Friday, with both currencies swinging back and forth throughout the session. Sterling gained some 60 pips to a session high on the release of the confirmation of second quarter U.K. GDP second reading which came in at a positive 0.7 percent […]
General overview for 23/08/2013 12:00 CET: After series of bearish structures invalidation I have taken a look from another perspective and re-labeled the old count. According to this count the price is still in complex and time consuming corrective cycle. This structure is either wave X brown or a part of a triangle wave alt.4. […]
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, […]
The Dollar strength was yesterday’s main characteristic as prices after breaking above the 81.25-35 resistance moved towards our first target of 81.70-80. Prices now find themselves challenging the important resistance at the 82 price level. Breaking above this resistance will decide if the intermediat term trend will change to up or remain down. The price […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards movement, as like we expected, the price tested the level of 1.7142 and our first short term target at 1.7100 on high volume. The current situation in (4H) timeframe is that we have got increasing in volume in a upward move which is […]
Overview: Since our last analysis, Gold has been trading sideways movement around the price 1,375.91, we are still waiting larger down 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 weak demand bar on low volume, according to the daily chart, which […]
Overview: AUD/USD: According to the previous events, the price has still been trapped between 0.9030 and 0.9000. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bearish signs. In other words, it will be a good sign to sell […]
NZD/USD: Trading recommendations: According to the previous events, the price is still between the levels of 0.7777 and 0.7810. The descending movement will probably be lower than the 0.7850 level with the first target at 0.7800 and 0.8, then the trend will be going to test the weekly support 2 at the price of […]
EURUSD: The EURUSD has not made any protracted directional movement this week. The bullish gain that was made has been forfeited as a result of the recent significant bearish correction, which has failed to render the extant bullish bias completely useless. There is a need for the price to stay above the support line of […]
Gold has continued to rise upwards steadily towards 1,380 in order to test the resistance and previous high at 1,382. Since it has reached thus far, we believe it is only a matter of time that prices will break to new highs and may even reach the 1,400 price level. We were bullish from yesterday […]
General overview for 23/08/2013 09:00 CET As I’d recommended yesterday, buying was the way to go in anticipation of wave 5 to unfold to the upside. Currently, it looks like bulls buying power is diminishing as we can see by looking on Awesome Oscillator: the Bearish Divergence between waves 3-5 green occurs now. There are […]
USD/CAD Elliott Wave Since our last analysis the USDCAD pair has continued trading upwards, impulsive wave .3 (coloured green) of the bigger wave C (coloured blue) has been developing. Yesterday, during the European session we could observe small descending movement from 1.0499 towards the 1.0469 level. Therefore, during the early New York session this currency did not manage to […]
AUDUSD Elliott Wave Since our last analysis the AUDUSD pair has been trading slightly upwards, just like we expected, corrective wave .A (coloured green) of the bigger wave Y (coloured blue) has started developing. Yesterday, during the Asian and European session we could observe ascending movement from 0.8930 towards the 0.9022 level. Therefore, during the New York session this major […]
Overview: USD/JPY to consolidate with bullish bias after hitting near a three-week high of 98.83 Thursday. Underpinned by reduced safe-haven appeal of yen and yen-funded carry trades as global risk sentiment improves (VIX fear gauge eased 7.4% to 14.76; S&P rose 0.86% overnight) after better-than-forecast manufacturing PMI data out of China and the euro zone. […]
Overview: USD/CHF to trade in lower range. Undermined by franc demand on buoyant CHF/JPY cross amid positive investor risk appetite. But USD/CHF losses tempered by positive dollar sentiment; positions adjustment before weekend. Daily chart is mixed as MACD is flat, stochastics is turning bullish. Trading recommendation: The pair is trading below its pivot point. It […]
Overview: GBP/JPY to consolidate with bullish bias. Underpinned by positive risk sentiment; demand from Japan importers. But EUR/JPY gains tempered by Japan exporter sales; positions adjustment before weekend. Daily chart positive-biased as MACD and stochastics in bullish mode. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a […]
August 23, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened mostly lower today, despite yesterday’s data from China to Europe which signalled that the global economy was on a recovery path. Investors eyed the second-quarter GDP from the UK, consumer confidence from the Eurozone and new home sales in the […]
TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3406. Strong Resistance: 1.3398. Original Resistance: 1.3385. Inner Sell Area: 1.3372. Target Inner Area: 1.3341. Inner Buy Area: 1.3310. Original Support: 1.3297. Strong Support: 1.3284. Breakout SELL Level: 1.3276. DESCRIPTION: Today, EUR/USD has support and resistance at 1.3297 and 1.3385. The rate is accompanied by strong support at […]
Daily chart: The CL made a strong bullish rebound in the 103.85 support level, making of the CL, in an asset very difficult to negotiate at the moment, because this is kept within the range between 106.70 and 103.85 levels. If the CL manages to break the support level of 103.85, it is expected to […]
Daily chart: The USDJPY broke the resistance at the 98.25 level and now, this is trying to climb to the resistance at the 99.81 level. It is very likely that this bullish trend continue next week, because of the strength he has shown this pair in recent days due to the weakness of the yen […]
Today’s Support and Resistance levels: R3: 133.81 (top on May 22) R2: 132.74 (top of wave c of the triangle) R1: 132.34 Current Spot: 132.14 S1: 131.92 S2: 131.52 S1: 131.05 Technical summary: We have seen the expected rally towards the triangle resistance-line near 132.00 and we will now be looking for the final e-wave […]
Today’s Support and Resistance levels: R3: 1.7153 (the top from August 5) R2: 1.7100 (the ideal target for wave i) R1: 1.7080 (current high for wave i) Current Spot: 170.37 S1: 1.6998 (break below here will be first indication of a finish wave i) S2: 1.6936 S3: 1.6855 Technical summary: We have almost reached […]
TODAY’s TECHNICAL LEVELS: Resistance. 3: 99.49. Resistance. 2: 99.29. Resistance. 1: 99.10. Support. 1: 98.86. Support. 2: 98.66. Support. 3: 98.47. DESCRIPTION: Please, pay attention to the levels of support 3 (98.47) and resistance 3 (99.49). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but […]
The yen was the worst performer during the Asian session on Friday, extending losses against the dollar and reaching a one-month low against the euro on expectations of bolder monetary policy measures by the Bank of Japan. The yen lost 0.3 percent against the dollar and is poised for a 1.5 percent loss since August […]
Yesterday, the strong resistance on the EUR/JPY has been already breached by this pair, for today seems the 132.00 level will be tested by this currency pair because we have got confirmation by all the three Moving Averages already form a “Golden Cross” formation pattern. This pattern will be the indication for the EUR/JPY which […]
Currency markets remain obsessed with Fed minutes and tapering, which is keeping the U.S. dollar supported. As seen on Wednesday after the publication, the July minutes showed that the FOMC committee was comfortable with Bernanke’s plan to begin tapering bond purchases “sometime this year.” Dollar gained most against the yen today, as well as against […]
Daily chart: The USDX is breaking the resistance at the 81.50 level and this continues to respect the bullish trend line. It is very likely that the USDX rises to the 200-day moving average near the 81.85 level. On the other hand, it is likely to fall back to bullish trend line. However, the USDX […]
Overview: NZD/USD is trading with bearish bias. The rate is weighted by stronger dollar sentiment; soft commodity prices; Kiwi sales on NZD/JPY cross amid increased risk aversion and contagion from weak regional emerging-market currencies; reduced expectations for near-term RBNZ rate hike; Kiwi sales on buoyant AUD/NZD cross. Daily chart is negative-biased as MACD and stochastics […]
Overview From today’s H4 chart, yesterday the pair failed to break the intersection point between the lower limit of the bullish channel with the Support level 152.50 to reverse its bearish movement taking an upward move and managed to break the Resistance level 152.90. Currently it is testing the Resistance level 153.75 keeping its […]
Daily chart: The GBPUSD pair found strong resistance at the 1.5642 level. It is very likely that this pair falls to support at the 1.5506 level, but we must be careful, because this fall could be the formation of a lower high pattern, to continue strengthening the current trend bullish. However, if this pair manages […]
