Gold continued to move towards 1,380.00 as it was expected and reached our target of the break out from 1,351.00. Resistance is strong at this price level and I expect the price to pull back. Bulls should be cautious as the pull back could push the price towards 1,340.00 or lower. The rise from 1,270.00 […]
Daily graphic The USD/CHF after experiencing a fall on Thursday, Friday was not a good day for the pair as it was a quite volatile day. After climbing up to a maximum of 0.9287, it fell to a low of 0.9217 to close at 0.9264 eventually just 4 pips off the opening price thus forming […]
EURUSD: This pair is currently bullish (though not without turbulence). The price closed at 1.3327 on Friday and may go on to test the resistance line at 0.9400 this week. There would be bearish threats along the way; which are not supposed to take the price below the support lines of 1.3300 and 1.3250 respectively. […]
On Friday, the pound was consolidating in the range of 20 points and closed the day declining 14 points. Citigroup upgraded their UK GDP forecasts following upturn in housing, spending and exports, to now see UK GDP +1.1% (from 0.9%) in 2013, and 2.1% (from 1.3%) in 2014. It is likely that amid positive data […]
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On Friday, the investors almost have not shown any reaction to the drop of data on Current Account and Trade Balance in the Eurozone. Using the inertia, the euro moved upwardly. Probably mass sell of US bonds influenced it. US data on building was a little lower than expected; however, it was better than earlier. The […]
August 19th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European equities decline [FTSE100 off 24 points/EuroStoxx50 off 18 points] but gold nudges higher by 3 bucks and the US dollar is performing better than most currency rivals. Core government bonds are under pressure, triggering spikes for US, UK and German bond yields. A […]
Broad U.S. dollar weakness remained in early Monday trading and kept currency markets subdued during the Asian session. Investor appetite was dampened since Friday’s tepid U.S. economic data which showed disappointing consumer sentiment numbers. The Thomson Reuters/University of Michigan’s preliminary reading for consumer sentiment fell to the worst in four months in August, down to […]
USD/CAD Elliott Wave Last week, the USDCAD pair was trading sideways, impulsive wave .3 (coloured green) of the bigger wave 3 started developing. During the Friday’s Asian and European sessions we could observe ascending movement from 1.0292 towards the 1.0359 level and we can consider this move as the end of the wave 2 (coloured […]
AUDUSD Elliott wave During the last week the AUDUSD pair was trading upwards, just like we expected, corrective wave .a (coloured green) of the Y wave developed. During the Friday’s Asian and European sessions we could observe ascending movement from 0.9132 towards the 0.9187 level. Therefore, during the early New York session this major currency continued trading in […]
TODAYs TECHNICAL LEVEL: Resistance. 3: 98.00. Resistance. 2: 97.81. Resistance. 1: 97.62. Support. 1: 97.39. Support. 2: 97.20. Support. 3: 97.00. DESCRIPTION: Please, pay attention to the levels of support 3 (97.00) and resistance 3 (98.00). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but […]
Today’s Support and Resistance levels: R3: 1.6472 R2: 1.6455 R1: 1.6432 Current Spot: 1.6404 S1: 1.6392 S2: 1.6329 S3: 1.6277 Technical summary: Since the last update the price-action has been pretty much as expected. We are still looking for a decline closer to support at 1.6225 and maybe just below, but once this C-wave is […]
TODAY’s TECHNICAL LEVEL: Breakout BUY Level: 1.3394. Strong Resistance: 1.3386. Original Resistance: 1.3373. Inner Sell Area: 1.3360. Target Inner Area: 1.3329. Inner Buy Area: 1.3298. Original Support: 1.3285. Strong Support: 1.3272. Breakout SELL Level: 1.3264. DESCRIPTION: Today, EUR/USD has support and resistance at 1.3285 and 1.3373. The rate is accompanied by strong support at 1.3272 […]
Today’s Support and Resistance levels: R3: 130.72 R2: 130.42 R1: 130.14 Current spot: 130.11 S1: 129.81 S2: 129.42 S3: 129.12 Technical summary: Since the last update, the price-action has unfolded less impulsive than expected. Therefore we have changed our short term count slightly. That means the count above is now our preferred count closely […]
Today, as we look at charts, the EUR/JPY already making Triangle charts pattern, which indicating volatility on this currency pair that is already decreasing, this condition has already confirmed by all the three Moving Averages, which are forming narrow conditions. RECOMMENDATION: SELL Stop (Pending Order) at 129.74. Take Profit at 129.60. Stop Loss at 129.84. […]
Daily chart: The CL is trying to fall back below resistance at the 106.70 level. It is likely that this small bearish movement is something “corrective”. However, if the CL manages to break that level, it is expected to fall to the level of 103.85. Furthermore, the CL may form a lower high pattern, so […]
Daily chart: The USDJPY is making a bullish rebound at the 97.59 support level. Now, this pair will try to climb to the resistance at the 98.25 level. If it breaks, it is expected to rise to the level of 99.81. On the other hand, if the USDJPY breaks the support level of 97.59 are […]
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 […]
This significant resistance around 1.5400 managed to put bearish pressure leading towards quick retracement reaching daily demand level around 1.5200. 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 […]
Supply levels: 1,370.40 and 1,423.30. Demand levels: 1,340.20, 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 bottom) that […]
Overview From the today’s H4 chart, the metal is trading between the Support level 22.80 and below the Resistance level 23.10 after its failure to break the Resistance level yesterday and bounced from it to take a slightly downward move and currently is re-testing the Support level 22.80. Presently, we suggest waiting for closing above the […]
Overview Today, as it is shown in the H4 chart, the pair took an upward move after its rebound from the lower limit of its bullish channel. Currently, the pair is testing the strong Resistance area of the Resistance level of 155.50 then 152.90 which means that downward move would be expected. Therefore, we […]
Overview: Since our last analysis, Gold has been trading upwards movement, the price tested the level of 1,372.23 on volume above the average. 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, […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards, the price tested the level of 1.6414. The current situation in (4H) timeframe is that we have got decreasing in volume in a downward move which is a sign that this is corrective phase. I placed Fibonacci expansion levels to find the potential […]
Technical outlook and chart setups: The metal advanced higher than the resistance at 22.50/23.00 levels in last trading session. At the moment, it is recommended to book profits and remain flat. At least, a meaningful correction could be underway towards 20.00 levels, which is the past resistance turned to support. The major resistance is now […]
Technical outlook and chart setups: The metal raised beyond 1,348/50 area yesterday. As depicted here, the next upside target is 1,380/1,410, which would be taking off major resistance around 1,370/75. It would be clear to buy on dips after that. For now, immediate resistance is at 1,380/1,400 while support is around 1,348/50 (which is past […]
Technical outlook and chart setups: The currency pair has retraced into 0.386 fibonacci support levels for now, although further correction towards 128.50/129.00 is possible before the rally resumes. It is recommended to remain flat for now and await a further dip before getting long. Intermediary support is at 128.00, followed by 125.00; while resistance is […]
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:Market continues to price in a plethora of rate cuts for… April 17, 2024 Market is still in monetary easing mode despite fewer rate…Video market update for April 17, 2024 April […]
Technical outlook and chart setups: The currency pair is stalling at resistance region around 1.4500/4600 for the moment. Please note that the long-term downtrend line is passing through the same region along with fibonacci 0.618 retracement level. Yesterday, it indicated that a reversal may be close to watch. After todays’ close it would be further […]
Overview: GBP/USD: The resistance has been already set at the level of 1.5805 as well as the support has been set at 1.5590 for August 12 – 16, 2013. Therefore, according to the previous events, the price has still been trapped between 1.5600 and 1.5570, then it should be noted that the range today […]
