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 […]
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, 1.5400 corresponding to 61.8% Fibonacci level then 78% Fibonacci around 1.5533. Some bearish rebound took place beyond 1.5400 towards 1.5100 where an ascending buttom 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. 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 […]
Overview From the today’s H4 chart, yesterday the metal failed to break the Support level 22.50 to bounce again from it and trade between the Support level 22.80 and the Resistance level 23.40. Currently the metal is re-testing the Resistance level 23.40 again, therefore we should wait for closing above to continue its upward […]
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 which constituted temporary intraday resistance that held price below for 5 days before bullish breakout took place on Thursday. The cable established ascending […]
Overview: USD/CHF is trading with bullish bias. The rate is underpinned by stronger dollar sentiment. But USD/CHF gains are tempered by flows to haven franc amid increased risk aversion. Daily chart is mixed as stochastics is in bearish mode, but MACD is turning bullish. Trading recommendations: The pair is trading above its pivot point. It […]
Overview: USD/JPY is trading with bullish bias. The USD/JPY pair is underpinned by stronger dollar sentiment (ICE spot dollar index last 81.37 versus 80.92 early Wednesday) and higher U.S. Treasury yields after minutes from Federal Reserve’s July policy meeting indicated policy makers broadly support tapering this year but no clarity on exactly when the taper […]
Consolidation above the previously broken downtrend depicted on the chart goes on for the 6th day in a row. This took place after finding solid supply around 1.3200. The previous weekly candlestick was a pin-bar representing hesitation after failing to step above the previous weekly high 1.3400. The EUR/USD pair stalled on Friday, forming a […]
Overview: USD/CHF: It should be noted that the price has still been trapped between 0.9300 and 0.9250. The price has been set below strong resistance at the level of 0.9367 (78% of Fibonacci retracement levels in H1 chart). Moreover, it is worth noting that these levels are coinciding between 23.6% and 50% of […]
Overview: GBP/USD: The resistance has been already set at the level of 1.5653 as well as the support has been set at 1.5478 for August 19 – 23, 2013. Therefore, according to the previous events, the price has still been trapped between 1.5580 and 1.5525, then it should be noted that the range today will […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.7074 on high volume. The current situation in (4H) timeframe is that we have got increasing in volume in a upward move which is a sign that down corrective phase has ended (we got […]
The U.S. dollar remains the favourite during the European session on Thursday, as currency markets continue to be driven by the Fed tapering story and U.S. Treasury yields. The dollar advanced for a second day against the euro and hit a two-week high versus the yen in reaction to the minutes of the Federal Reserve’s […]
Overview: Since our last analysis, Gold has been trading sideways movement around the price 1,367.00, we are 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 is […]
During the Wednesday’s session, the greenback rose against the euro after the results on the Fed’s July meeting were released. The reports exceeded the investors’ expectations showing that the central bank will start terminating the QE program in the nearest future. However, the officials did not provide market participants with more exact date. The U.S. […]
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:EUR/USD. April 26th. Bulls continue to advance after the GDP… April 26, 2024 The EUR/USD pair on Thursday rebounded from the corrective level…Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed […]
Technical outlook and chart setups: Silver is looking to push higher up towards the next resistance level at 24.80/25.00. It is recommended to exit short positions for now and remain flat. A major reversal structure could be unfolding at the moment and a push through 24.80 would confirm the same. The metal would turn to […]
Wave analysis: Starting yesterday’s trading session with the drop the EUR/USD pair after the Minutes of FOMC meeting were published reached the level 1.3335, having lost about 100 points. Meanwhile, up wave structure which was formed after August 15 looks as the next series of waves abc at the moment. Thus, we may assume that […]
Technical outlook and trading setups: The metal is trading in a tight range for now. It is recommended to exit short positions and remain flat. It is possible that Gold pushes higher up towards next resistance ahead at 1,425.00 region before a meaningful correction takes place. Currently trading at the 1,370/71.00 levels, the metal faces […]
Technical outlook and chart setups: The currency pair rallied as expected above 131.00 levels on the backdrop of the FOMC minutes out last night. It is recommended to remain long for now since and also buy further on intraday dips. Resistance is placed at 132.00/50 and 133.80/134.00; while intermediary support is at 128.00, followed by […]
The Dollar Index was closed and reversed as important resistance at 81.25-35 was broken. EURUSD the major component of the Dollar Index could not manage to hold above 1.34 after the announcement of the FED Minutes and prices collapsed bringing strength in Dollar. Short term trend may have broken upwards but bulls will need to […]
General overview for 22/08/2013 10:00 CET As it was indicated yesterday, another wave to the upside has been made ( wave 5 purple). Judging by the momentum analysis, there is still a possibility, that this wave does’t finish the whole five impulsive purple waves sequence to the upside but it could be long wave 3 […]
Yesterday data on the UK was strong. Public Sector Net Borrowing in July dropped 1.6 billion pounds vs. expectations for -3.7 billion pounds. However, it was better than data in June, 10,5 billion pounds. CBI Manufacturing Book Balance in August was 0, vs. forecast for -8 and -12 in July. Surplus of the UK budget […]
USD/CAD Elliott Wave For the last few days the USDCAD pair is trading upwards, we are seeing the impulsive structure from the 1.0275 level, so we have adjusted green (B) wave a little bit. Yesterday, during the Asian and European session we could observe ascending movement from 1.0403 towards the 1.0449 level.Therefore, during the New York session this […]
AUDUSD Elliott Wave Since our last analyses the AUDUSD pair has continued trading downwards, so we adjust our wave count a little bit. During the Wednesday’s European session we could observe ascending movement from 0.8998 towards the 0.9056 level. Therefore, during the early New York session this commodity currency did not manage to hold this levels and price has dropped to […]
Daily graphic The USDCHF, as it was discussed in our analysis yesterday, has developed upward trend but has not reached the goal of 0.9277 yet and almost gave up the gains to those who held a sales position. At this moment, the pair is above 0.9200 and since there was no significant data of Switzerland […]
August 22nd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist ETX Capital’s RSS site: http://my.etxcapital.co.uk 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, 2024 Nonfarm payrolls smash forecasts, reaffirming labor […]
The Federal Reserve minutes pushed the U.S. dollar higher after their release late on Wednesday, showing that tapering was still on track for September. Stimulus cuts are positive for the dollar, which rose across the board. In Asian trading Thursday, EURUSD slid to $1.3330 while GBPUSD fell to $1.5587. Meanwhile upbeat Chinese manufacturing data boosted […]
EURUSD: The reversal on the EURUSD has taken it below the price line of 1.3350. However, the bullish outlook is still valid, especially when the market fails to breach the EMA 56 to the downside. Generally, the support line of 1.3300 should act as an ultimate barrier to the bearish threat. USDCHF: This pair has […]
Daily graphic Crude oil continued its third day downward trend during the session on Wednesday August 21 after it was unveiled inventories for the week of August 16 that according to reports from the Energy Information Administration (EIA) this fell to 1.4 million barrels, less than expected 1.6M. At this time listed in 103.80 close […]
Since yesterday, the 131.00 level has already acted as strong resistance, although all the three moving average still make the “Golden Cross” pattern, this means the upside trend still continue in this pair, as long this currency not going down and breach bellow the EMA 100 (green) the uptrend situation still in a healthy condition. […]
