Weekly technical levels: Trading recommendations: GBP/USD: According to previous events, the price has still been trapped between 1.5300 and 1.5355. Buy above 1.5280 with the first target of 1.5350, it might resume to 1.5410. Below 1.5435 look for further downside with 1.5344 and 1.5295 targets. General idea about the pivot point: […]
Weekly technical levels: Trading recommendations: According to the previous events, the price of the EUR/USD pair is still between the levels of 1.3250 and 1.5290. Moreover, it should be noted that the market was so stable and trend was also too clear (upward), as well as a range was around 160 pips last […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price reached our short-term up target at level 1.7100 on high volume. I placed Fibonacci expansion to find the next target level and I got FE 61.8 at price 1.7360 like potential second target in case that price breaks […]
On Friday, UK PMI Construction in July was better than expected, 57.0 vs. 51.5. It gained additional momentum from weak data on Non-Farm Payrolls in July (162K vs. expectations for 185K). As the result, the pound closed the day growing 170 points. Today at 12:30 UTC+4 UK PMI Services in July is issued (forecast 57.1 […]
Overview: Since our last analysis, Gold has been trading sideways around the price 1,312.00, we are still waiting larger down movment. 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 no demand […]
The Dollar Index has made an upward impulsive move from 81.40 to 82.50. The short-term trend has changed to up. Prices pulled back in a corrective three wave pattern and pushed prices towards the 61.8% Fibonacci retracement level. This price level is according to our Elliott wave analysis the best entry level for long positions […]
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 25th. Bulls continue to advance and expect a… April 25, 2024 The EUR/USD pair made a new turnaround in favor of…Forex forecast 04/25/2024: EUR/USD, USDX, Gold and Bitcoin… April […]
Despite breaking below and out of the upward sloping trend channel, prices bounced right back up from our first target at 1,287 making a low near 1,284. Trend remains down and we believe that as long as the prices trade below 1,330-40 resistance, the bearish scenario has more chances of success. Short-term support is found […]
Data on Non-Farm Payrolls in July was unexpectedly lower, a surprise to many investors (162K vs. forecast for 185K). Data from June was revised downwardly from 195K to 188K. As the result the euro grew 74 points. Meanwhile, the Unemployment rate fell from 7.6% to 7.4%, however, it was to a greater extend due to […]
General overview for 05/08/2013 08:00 CET: The top I had mentioned in my last analysis held almost perfectly (4 pips overthrow of 78% Fibo level), so congratulations to everyone who took the trade there. Currently, after the five wave advance, the price has made a sharp correction that I have labeled as wave (ii) […]
EURUSD: The bearish threats that happened on the EURUSD pair last week did not succeed in pushing the price below the support line of 1.3200. From the point of ‘nearly resulting in a bearish confirmation,’ the price has been able to rally in the direction of the recent bias. The resistance line at 1.3400 is […]
General overview for 05/08/2013 07:30 CET: The KEY ZONE I mentioned in my last analysis held perfectly, so congratulation to anyone who made some profit on that trade. The current picture is very bearish now and wave progression suggests more impulsive decline. Only a breakout of the golden channel and eventual new high above […]
Today’s Support and Resistance levels: R3: 1.7326 R2: 1.7263 R1: 1.7200 Current Spot: 171.23 S1: 1.7100 S2: 1.7028 S3: 1.6987 Technical summary: We have seen the expected rally higher and have both broken the former high at 171.13 and broken above the base channel resistance line. We should see wave iii accelerating towards the […]
USD/CAD Elliott Wave Since our last analyses the USDCAD pair has been trading upwards, just like we expected. Corrective wave .5 (coloured red) of the bigger wave A (coloured blue) has been developing. During the Friday’s London session we could observe descending movement from 1.0400 towards the 1.03371 level and we can consider this move as the end […]
Technical outlook and chart setups: Silver remains locked in a trading range for now. Support region is around 19.00/20, while resistance is around 12.30/50. As depicted here, the metal broke the rising counter trend line last week and is testing the backside, which is resistance now. It is recommended to initiate fresh short positions on […]
Technical outlook and chart setups: The metal almost met the short targets around 1,270/80 levels last week before pulling back sharply on Friday after NFP Release, as depicted here. The rising counter trend line was broken earlier and it is being tested on the back side, which is resistance at the moment. Resistance with respect […]
Technical outlook and chart setups: The single currency pair has again tested the channel support line and bounced off sharply into 131.50/75 region. At the moment, it is recommended to exit long positions taken last week. Fridays’ rally and close has produced a dogi; and could possibly indicate a reversal ahead. Resistance is still around […]
Daily chart: CL tried to break the resistance at 106.70 level, but did not succeed. Now, CL is trying to fall back to the next support level at 103.85. If this pair does consolidate above resistance at 106.70 level, it would be expected to rise to the level of 109.93. Furthermore, if CL manages to […]
Daily chart: GBPUSD starts a week over the resistance level at 1.5266. On Friday, the pair made a bullish rebound above the support at the 1.5159 level. Now, this pair is trying to form a lower high pattern, to continue up to the next resistance level of 1.5407. On the other hand, if this pair […]
AUDUSD Elliott Wave Last week the AUDUSD pair traded downwards, just like we had expected, impulsive wave 3 (coloured blue) of the bigger wave (5) (coloured green) was developing. During the Friday’s Asian and European sessions we could observe ascending movement from 0.8888 towards the 0.8968 level and we can consider this move as the […]
Today’s support and resistance levels: R3: 131.98 R2: 131.79 R1: 131.55 Current Spot: 131.18 S1: 131.07 S2: 130.79 S3: 130.41 Technical summary: It finally seems that blue wave ii has come to an end. In the short term, we are looking for resistance at 131.55 to protect the upside for a break below 131.07, which […]
Technical outlook and chart setups: The single currency pair has broken down the intermediary support line last week as depicted here. Furthermore, the initial support of 1.40 levels has also been tested again before the pullback last Friday. The recommended trade strategy would be to sell rallies from here on. Prices are at past support […]
Overview: GBP/JPY is consolidating with bullish bias. GBP/JPY is underpinned by positive investor risk appetite; demand from Japan importers. But GDP/JPY gains tempered by Japan exporter sales; positions adjustment before weekend. Daily chart is tilting positive as stochastics turned bullish; negative MACD histogram bars contracting. Trading recommendations: The pair is trading above its pivot point. […]
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 […]
Bearish rejection was expressed off important key resistance at 1.5400 located on the chart corresponding to 61.8% Fibonacci Level extending up to 1.5440. This significant resistance managed to put bearish pressure leading towards quick retracement which already bypassed 1.5290 50% Fibonacci reaching daily demand level around 1.5125-1.5105. The next significant demand level on the daily […]
The Australian dollar is very weak. Every attempt to recover ends in a fall. This currency is closely linked to China’s economy. Given that in this country every time data is very disappointing, it influences in the price of the Aussie, we see in the chart that the pair is struggling to hold above 0.8905, […]
The downward pressure took the pound down to the 1.51 level. Right in the area of 1.5099 weekly support, since the Momentum Indicator failed to perform the breakdown of the MACD. This increases the likelihood of upward sequence for the next session. We believe the pair should stop at the level of the 100-day moving […]
