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 […]
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 […]
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 […]
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 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 […]
The euro remains within the range of rates between 1.3333 and 1.3290. This pair has expanded more this range, but does not define clearly the trend for the next few days. This morning in the American session the Non-Farm employment Change was published. The data that came out was less than economists had expected for […]
Overview: NZD/USD is consolidating with bearish bias after hitting two-week low 0.7851 on Thursday. NZD/USD is undermined by bullish dollar sentiment; Kiwi sales on rebounding AUD/NZD cross. But NZD/USD losses are tempered by positive investor risk appetite; buoyant commodity prices; positions adjustment before weekend. Daily chart is tilting negative as stochastics falling from overbought; positive […]
Strong bullish presence was expected to be found off support zone around 1.5830 which pushed the pair to the upside reaching up to 50% Fibonacci level around 1.5275 then 1.5400 corresponding to 61.8% Fibonacci level. Bearish rejection expressed off 1.5400 followed by confirmation of the double-bottom pattern with projection target at 1.5100 which was hardly […]
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: 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: […]
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 […]
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 […]
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 […]
