TODAY’s TECHNICAL LEVELS: Resistance. 3: 98.58. Resistance. 2: 98.39. Resistance. 1: 98.19. Support. 1: 97.96. Support. 2: 97.76. Support. 3: 97.57. DESCRIPTION: Please, pay attention to the levels of support 3 (97.57) and resistance 3 (98.58). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 […]
Today’s Support and Resistance levels: R3: 171.53 R2: 171.00 R1: 170.74 Current spot: 170.47 S1: 170.00 S2: 1.6967 S3: 1.6934 Technical summary: We are still looking for a top of wave i near 171.00 and should be ready for the first sizable set-back since this rally took of from 1.6325. The ideal target for this […]
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 1.3284 […]
Today’s Support and Resistance levels: R3: 131.56 R2: 131.20 R1: 131.03 Current spot: 130.88 S1: 130.63 S2: 130.21 S3: 129.90 Technical summary: Well once again we saw a break above resistance at 131.01, more and more evidence is pointing towards the triangle as the preferred count. That means we should see a continuation higher towards […]
The U.S. dollar spiked against the yen on the perception that the Federal Reserve tapering timeline is on track. The much awaited FOMC minutes were released today showing broad support by policy makers to start scaling back the Fed’s bond buying program and many speculate that this could be as soon as September. Cutting back […]
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 As shown from the today’s H4 chart, the metal is stabilizing between the Support level 22.80 and the Resistance level 23.40 after its failure to break the Support level again yesterday. Currently we must wait for re-testing the Support level 22.80 again and closing below to get the bearish move opportunity. In that […]
Today’s Support and Resistance levels: R3: 1.7100 R2: 1.7050 R1: 1.7006 Current spot: 1.6975 S1: 1.6925 S2: 1.6856 S3: 1.6835 Technical summary: We should be close to the top of wave i of the new impulsive rally which began at 1.6325. We expect the top to be set close to 1.7100 from where we should […]
Overview As it was expected yesterday, the pair would reverse its downward move taking an upward move due to the Support area consists of the lower boundary of the bullish channel with the strong Support level 152.00. Today and as shown from the H4 chart, the pair bounced from the Support area breaking the […]
Today’s Support and Resistance levels: R3: 132.07 R2: 131.55 R1: 131.01 – Invalidation point of the bearish count Current spot: 130.75 S1: 130.52 S2: 130.33 S3: 129.90 Technical summary: We are still looking for an impulsive decline to develop any time now. In the short term we are looking for important resistance at 131.01 […]
Higher time frames The higher time frames gained the daily cloud of 151.87. It is unlikely the candles’ chart to be considered as a well-executed pattern “Break-Rebound SSB.” Nevertheless, after the maximum updating (now 153.55) it is expected that upward movement is going to continue. SSB support of 151.87, daily Tenkan of 151.18 Lower time […]
Overview: AUD/USD: According to the previous events, the price has still been trapped between 0.9090 and 0.9020. 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 […]
Trading recommendations: NZD/USD: According to the previous events, the price has still been trapped between 0.7950 and 0.7910. Long buying: Buy above 0.7840 with the first target of 0.7890, it might resume to 0.7950. Short selling: Outlook -1-: Swing trade at 0.7940 in order to sell with a traget of 0.78. Outlook -2-: […]
The European session was a mixed bag and major currency pairs did not show any clear direction as the key risk event of the day looms. Investors are being cautious ahead of the release of the July policy meeting minutes later today, which could reveal when the U.S. central bank plans to cut back on […]
The Dollar Index has broken the trend line support as it was expected by our last analysis due to the bearish flag pattern being created. The first target at 80.70 was almost reached and trend remains down as inability to break above resistance has resulted to new lows. Short-term support is found at 80.80 and 80.50 […]
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 […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards movement, as like we expected, the price tested the level of 1.6964 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 […]
Overview: Since our last analysis, Gold has been trading sideways movement around the price 1,360.00, 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 […]
General overview for 21/08/2013 on 10:30 CET The price is in corrective cycle wave ii that has reached more than 90% of the wave i and currently is at the 78%Fibo retracement of the larger swing. This level is the Key Level for the immediate bearish impulsive wave development. Due to so deep retrace the […]
EURUSD: Yesterday, the EURUSD tested the resistance level at 1.3450, and was corrected downwards. However, the bullish trend is still in place. The current pullback, as indicated by the Williams’ % Range period 20, signifies an opportunity to buy lower when the price is on sale and in the context of an uptrend. USDCHF: Yesterday, […]
Support is being held by Gold prices and the possibility for a new high towards 1,400 is very real. The downward price actions seems corrective and as long as prices trade within the upward sloping channel, then we should expect another leg higher towards 1,390-1,400. Short term support is found at 1,356 and 1,350. Short […]
Wave analysis: During yesterday’s trading session the EUR/USD pair preferred to resume upward movement and at the end of the day consolidated at the level corresponding to June’s high (1.3415). Thus, yesterday’s growth confirmed the fact that the pair is forming inner wave stricture of the 5th wave higher than the uptrend channel, starting from […]
Yesterday the pound added 20 points. The nature of the growth was that from the technical point of view, leading indicator Marlin continued dropping and continues forming technical conditions for signal for accelerated drop (transition to the negative territory). Today at 12:30 UTC+4 data on Public Sector net Borrowing in July, forecast -3.7 billion pounds […]
General overview for 21/08/2013 08:00 CET Due to wave i -iv overlapse old count has been invalidated and new count is here with two possible scenarios: SCENARIO 1: MAIN COUNT – This is bullish 1-2,1-2,(i)-(ii), count that indicates the low for the wave X has been found and now market is going straight up to finish wave Y of a larger […]
USD/CAD Elliott Wave Since our last analyses the USDCAD pair has been trading upwards, just like we expected, final wave .Y (coloured green) of the bigger 2 wave (coloured blue) has been developing. Yesterday, during the Asian and European session we could observe ascending movement from 1.0344 towards the 1.0376 level. Therefore, during the New York session this commodity currency […]
AUDUSD Elliott Wave From the start of this week the AUDUSD pair has been trading downwards, we are still tracking the bearish movement from 0.9232 as potential FLAT .B wave (coloured green) of Y wave (coloured blue). Yesterday, during the Asian and early European session we could observe descending movement from 1.0120 towards the 1.0251 […]
Weekly graphic In two days of negotiation the USD / CHF has traveled the equivalent of what could be a week of negotiation as it has shifted from the line 4/8 to the base of the range of rates in 0.9155 located approximately 89 gained pips so far. It is difficult to determine exactly why […]
Weekly graphic Crude oil after falling nearly 200 points during the session of Tuesday, August 20, and observing the weekly chart, we can say that is in a sales area for three reasons. First currently trading at 104.90 reached very close to the minimum 4 weeks before was 104.61 and has found support at the […]
August 21st, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Taper blues continue to curb enthusiasm to build risk across equity, commodity and forex markets Wednesday. US Treasury 10-year note still elevated at 2.82% but off two-year highs seen this week. FOMC meeting minutes to steal the show later with many in the market […]
Daily chart: USDJPY continues to fall below the resistance level at 97.59. It is very likely that this pair fall to support at the 96.38 level. However, we must bear in mind that the USDJPY could again break the resistance level at 97.59 and go up to the level of 98.25. If the pair manages […]
