On Friday, the EUR/USD pair expressed weekly bullish engulfing candlestick that closed at 1.3067 after hiting the previously mentioned demand zone extending between 1.2750-1.2820. This demand zone corresponds to a previous low established in March as well as another bottom established in May, this pushed the pair to trade again above the depicted broken uptrend line. It […]
EURUSD made a 400-pip jump on July 10 to reverse a downtrend since June 19 that brought it to a low of $1.2754. The pair has since climbed to a high of $1.3205 on July 11 and subsequently consolidated with support at the key psychological level of $1.3000. After retesting this key support level a […]
The euro began the European session by falling against the dollar as a result of weak data showing the number of new cars registered in the Euro zone fell in June by the biggest amount since 1996, and comes after May’s registrations reached a 20-year low. The European Automobile Manufacturers’ Association reported a decline by […]
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:Why is gold defying gravity? – Special Report April 7, 2024 Gold stays in rally mode, even when dollar and yields…Forex forecast 04/05/2024: EUR/USD, GBP/USD, SP500 and… April 7, 2024 We […]
Overview: Since our last analysis, Gold has been trading sideways around the price 1,286.00, we are still waiting for larger move and testing the level of 1,151.00. I placed new Fibonacci expansion levels to find the potential end of up corrective phase. Thus, I got FE 100% at price 1,295.00 and if that level holds, […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around the price 1.6610, we are still waiting for larger movement. The price rejected from level 1.6221 and tested 1.6792 on very high volume. I placed Fibonacci expansion to find levels where down corrective phase may finish and I got FE 100% at […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading upwards, just like we expected, impulsive wave .3 (coloured green) of the bigger wave 5 (coloured blue) has been developing. During the Monday’s Asian and European sessions we could observe ascending movements from 1.0379 towards the 1.0433 level.Therefore, during the New York […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has been trading upwards, so we changed our primary wave count a little bit, but we are still favoring the bearish scenario. Yesterday, during the Asian session we could observed descending movement from 0.9122 towards the 0.9035 level and we can consider this move as the end of the sub-wave […]
The euro fell against the dollar after a disappointing report on the German ZEW economic sentiment. The data showed that analyst and investor sentiment in Germany was more pessimistic, mainly driven by a series of weak Euro zone data recently. The ZEW survey is an important indicator because it is a survey of about 275 […]
Sterling fell against the dollar after U.K. inflation numbers misses forecasts on Tuesday, raising expectations that the Bank of England now has more leeway to provide extra stimulus for the economy. This led investors to expect interest rates to remain at record lows for a while longer. A report from the Office for National Statistics […]
Gold continued to grind higher and sideways in what seems to be a wave 4 triangle. Support is being held and we still believe that an upward move with new highs is more probable than a new downward move. Nevertheless, we always look at the support levels and if broken, we will change our mind […]
Dollar Index has made a higher high yesterday at 83.46 but the upward move from 82.40 is far from being labeled as impulsive. The upward move has an overlapping pattern, something that is typical for corrective patterns. This upward move from the 50% Fibonacci retracement is most probably part of the correction and the down […]
TODAY’s NEWS RELEASE: 1. US – Core CPI m/m TODAY’s TECHNICAL LEVELS: Resistance 3: 99.76. Resistance 2: 99.57. Resistance 1: 99.37. Support 1: 99.12. Support 2: 98.93. Support 3: 98.73. DESCRIPTION: Please pay attention to the levels of support 3 (98.73) and resistance 3 (99.76). Normally, when a level is touched, USD/JPY will rebound […]
TODAY’s NEWS RELEASE: 1. German ZEW Economic Sentiment 2. US – Core CPI m/m TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3152. Strong Resistance: 1.3144. Original Resistance: 1.3131. Inner Sell Area: 1.3118. Target Inner Area: 1.3087. Inner Buy Area: 1.3056. Original Support: 1.3043. Strong Support: 1.3030. Breakout SELL Level: 1.3022. DESCRIPTION: Today EUR/USD has support and resistance at […]
EURUSD: Following the bullish breakout that occurred on this pair last week, the market has been moving sideways. Nevertheless, the bullish bias is still valid, and so, the price could break out towards the north when a breakout does occur. At the end of today or tomorrow, the price could be trading above the resistance line […]
Today’s Support and Resistance levels: R3: 1.6886 R2: 1.6806 R1: 1.6756 Current Spot: 1.6708 S1: 1.6667 S2: 1.6634 S3: 1.6610 Technical overview: We have been trading sideways since yesterday, but as long as resistance at 1.6756 protects the upside we could see one last decline closer to 1.6634 before the next powerful rally towards […]
Daily chart: The USDX performed a bearish rebound at the resistance level of 83.22. However, there is still the possibility that the USDX follows up and if it manages to break this resistance level, it would be expected to rise to the level of 83.74. On the other hand, this could be the formation of […]
July 16th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist A subdued but mildly positive start for European share markets this morning as investors gear up for a torrent of economic data together with testimony to US Congress by Federal Reserve chief Ben Bernanke on Wednesday and Thursday. Risk sentiment remains broadly supportive with […]
Today’s support and resistance levels: R3: 131.31 R2: 131.12 R1: 130.70 Current spot: 130.36 S1: 130.28 S2: 130.08 S3: 129.85 Technical overview: With the break above resistance at 130.56, we now must expect a much more complex correction developing. We should now be looking for a move higher towards the top at 133.81. This expected […]
For today, EUR/JPY already found the uptrend, this is confirmed by all the three moving averages forming the Golden Cross pattern. Please pay attention to Germany’s ZEW Economic Sentiment this afternoon; this news release will be give a significant impact who can make EUR/JPY continues their uptrend way or make a reversal way for this […]
Daily chart: GBP/USD dropped to support at the 1.5023 level and made a bullish rebound at that level. For now, there is a possibility of a formation of a lower high pattern, below the resistance level of 1.5159. If the pair manages to break that level, it is expected to rise to the level of […]
Currency markets went nowhere during the Asian session on Tuesday, trading in tight ranges. The Australian dollar was the only G10 currency that moved. The Aussie got a big boost after the release of Reserve Bank of Australia July policy meeting minutes. The central-bank’s tone was a little less suggestive of near-term easing than markets […]
Currency markets were exceptionally quiet on Monday, with very little movement in currency pairs from last Friday. The day began with economic data from China, which showed second quarter GDP rose in line with expectations at 7.5 percent. Markets seemed satisfied with this. The Europe session had a lack of data and the dollar made […]
The cable witnessed a rapid fall towards 1.5025, breaking the corrective uptrend line which came to meet the pair around 1.5150 then support zone around 1.5000-1.5020. The demand level around 1.5000 (also a psychological support) was broken, supported by the positive fundamental data that was released then. On Wednesday, while the pair was consolidating […]
Overview Based on the shown H4 chart, silver is still stabilizing between the Support 19.65 and the Resistance level 20.00 after its rebound from the Resistance level 20.00 last week. If silver continues its bearish move and manages to break the Support level 19.65, this will give a strong indicator for the downward move and open […]
The USD/CAD pair rose steeply approaching the key resistance level of the ascending channel around at 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. This false breakout was quickly followed by intesive bearish pressure that led to breakdown of 1.0450 […]
Strong bullish presence was expected to be found off support zone around 1.5830 which pushed the pair to the upside breaking through the upper limit of the 4H channel that again reached up to 61.8% Fibonacci level around 1.5180. Last week, on Friday, bearish price action was expressed around 61.8% Fibonacci level depicted […]
On Friday, the EUR/USD pair expressed weekly bullish engulfing candlestick that closed at 1.3067 after hiting the previously mentioned demand zone extending between 1.2750-1.2820. This demand zone corresponds to a previous low established in March as well as another bottom established in May, this pushed the pair to trade again above the depicted broken uptrend line. […]
Overview: From the today’s H4 chart, the price opened this week inside the bearish channel and currently is testing its upper boundary after its rebound from its lower limit with the Support level 149.65 yesterday. More bearish signals would be expected in case of bouncing from the upper limit of the bearish channel to break the […]
The U.S. dollar gained strength against most major counterparts in the European session on Monday as investors remain bullish in the greenback. Many believe the US economy is on a recovering trend and expect the Federal Reserve to begin scaling back its bond buying program later this year. Such stimulus measures which include buying $85 […]
