Overview As shown from the today’s H4 chart, the metal failed to break the Support area which consists of the Support level 19.25 and the lower limit of its bearish channel. It is still trading above this Support area. Currently it is bouncing from the Support level and starting for the bullish move. So […]
The USD/CAD pair rose steeply approaching the key resistance level of the ascending channel around 1.0530 as depicted on 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 breakdown of 1.0450 and 1.0380 with a recorded low 1.0254. […]
Overview From the today’s H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the Resistance level 150.70 after it was tested yesterday. Today the pair took an upward movement and has managed to break the strong resistance area 150.70 then 151.30, […]
Supply Levels: 1,340.20, 1,370.40, and 1,423.30. Demand Levels: 1,312.20, 1,256.00, and 1,209. Bullish breakout above previous congestion zone extending between 1,265-1,298 took place on Monday. This enhances the ongoing uptrend. Lack of bullish steam is apparent on the chart after hiting 1,347.8, successive daily inside bars are trapped within Friday’s pin-bar price range, untill Wednesday when […]
Overview: USD/JPY is consolidating with bullish bias after hitting one-week high 99.9. USD/JPY is underpinned by positive dollar sentiment (ICE spot dollar index last 82.37 vs. 81.66 early Thursday) on surprise 19,000 drop in latest U.S. weekly jobless claims to 326,000 (versus 345,000 forecast) and stronger-than-expected rise in U.S. ISM manufacturing PMI to 55.4 in […]
Overview: USD/CHF is consolidating with bullish bias after hitting one-week high 0.9372 Thursday. USD/CHF is underpinned by bullish dollar sentiment; franc sales on buoyant EUR/CHF cross. But USD/CHF gains are tempered by positions adjustment before weekend. Daily chart is tilting positive as stochastics is rising from oversold; negative MACD histogram bars are contracting. Trading recommendation: […]
The nonfarm payrolls report crushed all the USD longs as the number of jobs created missed estimates and disappointed markets who now rethink their expectations that the Fed will begin tapering by September. The number of jobs created in July in America’s nonfarm sector was 162,000, which was lower than the forecast for 184,000. Adding […]
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 19, 2024 April 19, 2024 Potential for the further drop on NAS100The material has been…Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision… April 19, […]
Risk sentiment remained buoyant in the European session on Friday in the build up to the U.S. nonfarm payrolls (NFP) report later. The U.S. dollar is bullish heading to the New York open demand remains strong on the back of the U.S. ISM manufacturing data from yesterday. The upcoming NFP jobs numbers will be the […]
EURUSD: The bullish scenario on this pair has been rendered invalid by the current bearish threats. There is now a bearish signal on the chart, but it is better to wait for the price to break the market line of 1.3200 to the downside, even closing below it. Then short trades would make more sense. […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested level 1,282.93 on high volume. I placed Fibonacci expansion levels to find the potential end of up corrective phase. We are still likely to see testing of the weekly FE level 161.8% at price 1,151.00. I saw supply bar […]
General overview for 02/08/2013 10:00 CET: It turns out that wave (ii) correction was Running Flat instead of anticipated Irregular Flat but anyway the price went in the desired direction. It took out the previous SUPPLY area and H1 candle had closed way above the supply level. The target level of 1.0320 of yesterday’s […]
AUDUSD Elliott Wave All week the AUD/USD pair has been trading in a downwards move, impulsive wave 1 (coloured blue) of the bigger wave (5) (coloured green) has been developing. Yesterday during the Asian and European sessions we could observe descending movement from 0.8991 towards the 0.8903 level. Therefore, during the New York session this […]
The Dollar Index managed yesterday to break above short-term resistance levels and make a daily candle close above the red candlestick we noted in yesterday’s analysis. Prices managed to close above 82 and are now testing the next important resistance at 82.35. It is a good sign that after all the expectations we see the […]
General overview for 02/08/2013 09:30 CET: The corrective wave (c) of wave (ii) to the upside went above 61% Fibo level and currently stalled just a shy of 78% Fibo and Weekly Resistance Pivot Level 1 at 131.90. It is possible that the target for this wave is 78% Fibo at 132.00 and this would […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards movement, as we expected, price tested level 1.6836 on high volume. I placed Fibonacci expansion to find levels where down corrective phase may finish and I got FE 100% at price 1.6357 and FE 161.8% at price 1.6030. The current situation on (4H) […]
Yesterday the pound was in sideways movement. The Bank of England preserved its monetary policy unchanged. This time it did not publish traditional announcement, moving inflationary report on August 7. The pound did not pass the demand for USD and closed the day dropping 90 points. Today at 10:00 UTC+4 Nationwide House Price Index in […]
Gold has broken downwards as expected. Once the trend lines were broken, the downward move was only a matter of time to arrive. In yesterday’s analysis we also mentioned that we would add to short positions once 1,301 was broken with 1,286 as the first target. Trend is down both in short and longer term. […]
USD/CAD Elliott Wave For the last few days we are tracking the corrective wave (A) (coloured green) as finished, and yesterday’s bullish movement finally confirmed this scenario. During the Thursday’s Asian and European sessions we could observe ascending movement from 1.0262 towards the 1.0324 level. Therefore, during the New York session this major currency has continued […]
Bearish tendency for the euro has consolidated. Yesterday during the ECB press conference Mario Draghi did not say anything new and tried to be neutral. Following positive data on ISM Manufacturing in the US in July, which was 55.4 vs. expectations for 52.1 and 50.9 in June, the euro continued declining. The investors are waiting […]
Sterling jumped against the dollar and euro after UK construction PMI beat forecasts and hit a three-year high in July. Markets reacted positively to the data as it comes on the back of strong manufacturing PMIs from Thursday. The data is therefore suggesting the British economy is improving and starting the third quarter on a […]
TODAY’s NEWS RELEASES: 1. US – Non Farm Payrolls. 2. US – Unemployment Rate. TODAY’s TECHNICAL LEVELS: Resistance 3: 100.12. Resistance 2: 99.93. Resistance 1: 99.73. Support 1: 99.49. Support 2: 99.29. Support 3: 99.10. DESCRIPTION: Please pay attention to the levels of support 3 (99.10) and resistance 3 (100.12). Normally, […]
TODAY’s NEWS RELEASES: 1. US – Non Farm Payrolls. 2. US – Unemployment Rate. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3275. Strong Resistance: 1.3267. Original Resistance: 1.3254. Inner Sell Area: 1.3241. Target Inner Area: 1.3210. Inner Buy Area: 1.3179. Original Support: 1.3165. Strong Support: 1.3153. Breakout SELL Level: 1.3145. DESCRIPTION: Today EUR/USD […]
Daily chart: The USDX has made a bullish rebound above the 200-day moving average and support at the 81.50 level. This could be an indicator of a trend reversal in the USDX. If the USDX manages to break the resistance at 82.51 level, it would be expected to rise to the level of 83.22. Furthermore, […]
Daily chart: The GBPUSD pair continues to strengthen its bearish trend, breaking the support at the 1.5159 level. Now, this pair is setting its goals to the next support level at 1.5023. However, it is likely that during today’s session GBPUSD pattern forms a higher low, so that it continues to fall over the next […]
Overview: USD/CHF: It should be noted that the price has still been trapped between 0.9380 — 0.9343 and the price has been set below strong resistance at the level of 0.9425 (38.2% of Fibonacci retracement levels on H4 chart). Moreover, it is worth noting that these levels are coinciding between 23.6% and 38.2% of […]
Today’s Support and Resistance levels: R3: 1.6842 R2: 1.6790 R1: 1.6738 Current Spot: 1.6719 S1: 1.6693 S2: 1.6671 S3: 1.6652 Technical summary: We should be in the very early parts of red wave iii higher. Red wave iii is most likely to become an extended wave and should at least reach 1.7326, but could well […]
Today’s Support and Resistance levels: R3: 132.07 R2: 131.82 R1: 131.53 Current spot: 131.37 S1: 131.12 S2: 130.79 S3: 130.40 Technical summary: We have seen the expected rally higher in a complex correction in blue wave ii. The correction went a little higher than we expected, as we have seen a high at 131.56. […]
August 2nd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened higher this morning, as yesterday’s upbeat data on US jobless claims and manufacturing sector activity boosted optimism about an improvement in US economic activity. However, gains were kept in check, as investors eyed US non-farm payrolls and factory orders data, […]
Yesterday all the moving averages succeeded in making a Golden Cross formation pattern, and this means EUR/JPY now has an uptrend, but please pay attention to the important U.S. fundamental news releases today : 1. Unemployment Rate. 2. Non-Farm Payrolls. If you already have an open position from the previous day, just keep your stop […]
