Technical outlook and chart setups: Since the break of rising trend line which happened lately, the channel line has remained our focus to confirm the next trade direction. Prices are again testing channel support for now at around 130.00 level. A bullish bounce here would shift focus again towards 132.00 and higher; while a break […]
Technical outlook and chart setups: There is no change in the outlook from what has been discussed recently. The single currency pair seems to be consolidating after bouncing off the rising trend line recently around the 1.4270/80 mark. Intermediary support is at 1.4200, followed by 1.4075/1.4; while immediate resistance is at 1.48, followed by 1.5 […]
Daily chart: CL continues to develop its bearish trend in this chart. It is very likely that CL breaks the support level at 103.85 and if it succeeds, it would be expected to fall to the level of 103.85. For now, while CL is maintained above this support and below the resistance at 106.70 level, […]
Overview: The resistance of USD/CAD sets at the level of 1.0425, therefore the bears are going to sell below 1.0425 because there is a double top on the price 1.0430. So it should also be noted that the resistance sets at the level of 1.0425, thus swing trade at 1.0425 in order to sell […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 98.61. Resistance 2: 98.42. Resistance 1: 98.23. Support 1: 97.99. Support 2: 97.80. Support 3: 97.60. DESCRIPTION: Please pay attention to the levels of support 3 (97.60) and resistance 3 (98.61). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but […]
July 30th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened higher this morning, tracking gains in Asian markets and as investors shifted their focus to earnings updates and a two-day Fed policy meeting that starts later in the day. Meanwhile, the IMF approved a loan tranche worth €1.72 billion for […]
EUR/USD: This pair still besieges the price line of 1.3300, even in the face of the current consolidation to the downside (which is essentially negligible right now). It is likely that the pair would continue going northwards, and should that prove to be true, the current consolidation to the downside would be a good long […]
Daily chart: GBP/USD was unable to break the resistance level of 1.5407. Now, it is very likely that this pair will fall to the support level at 1.5266. However, keep in mind that these movements could help form a lower high pattern. If GBP/USD manages to break that resistance level, it would be expected to […]
The Australian dollar took the spotlight today as it tumbled against most major peers following weak data and comments by the Reserve Bank of Australia’s governor. AUDUSD began the Asian session at $0.9203 and began its decline after weak industrial production figures. The fall accelerated to $0.9059 after RBA Governor Stevens speech when he signalled […]
The dollar gained some ground against most major peers in the U.S. session on Monday, but was little changed against the yen. Most investors are positioning ahead of key risk events this week and are waiting on central bank policy announcements and key data for direction. The dollar is generally weaker since last week on […]
The pound is under downward pressure. At the moment it is trading at 1.5358, key weekly pivot point level. A daily close below this level will be a clear bearish signal for the pair. We believe that it may press it to 1.5178 support zone. On the other hand, a bounce back or if […]
The Japanese yen has made some interesting moves, growing against the dollar and continuing a rally that began towards the end of last week; this pair has strengthened more because many investors only see as shelter against market uncertainty. However, observing the graph of weekly pivots, we noticed that the Japanese yen has an immediate […]
This week the Australian dollar is located around the weekly pivot point of 0.9236. This is a key level for this week. Given that since the opening of the Asian session the pair is showing weakness, like other currencies which are trading against the US dollar. If this level is broken the pair is expected […]
The 1.33 level has proven to be a very strong resistance for the euro. If you look at the monthly chart of the pivots, there is a line of R1 which is located at 1.3298, just the area where the pair turned around. In view of which it is now negotiating below the monthly resistance. […]
Important key resistance at 1.5400 is located on the daily chart corresponding to 61.8% Fibonacci Level extending up to 1.5440, previous daily high. This upcoming resistance is expected to put some bearish pressure maybe leading towards some bearish retracement. However, Thursday’s bullish engulfing daily candlestick, the low of which hardly touched 50% Fibonacci Level around […]
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 50% Fibonacci level around 1.5275. Now there are three established bottoms around 1.4825, 1.5050 and 1.5270 (which is being established)ю Moreover, […]
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. This was followed by intensive bearish pressure that led to breakdown of 1.0450 and 1.0380 with a recorded low […]
Consolidation above the previously broken uptrend line goes on this week too after the pair established a consolidation range between 1.3060 and 1.3180. The weekly candlestick came bullish for the 3rd week in a row closing above 1.3240 important level corresponding to previous May’s high. The next supply zone will be located around 1.3333 corresponding […]
The European session was relatively quiet on Monday and trading was light as investors await a series of key events this week. Major central banks will be holding policy meeting and key macroeconomic data will be released. The Federal Reserve, European Central Bank and Bank of England will be making policy announcements while the all-important […]
Overview: Since our last analysis, Gold has been trading sideways around the price 1,331.00, we are still waiting future down movement. 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 […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around the price 1.6428, we are still waiting for larger move and bullish movement. 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 […]
On Friday, amid lack of important data the pound was trading in the range 1.5357-1.5418. Today at 12:30 UTC+4 data on the UK is published. Net Consumer Credit is forecast to be at May’s level, 0.7 billion pounds. Net lending secured on Dwellings is expected to be higher; 0.7 billion pounds vs. 0.3 billion pounds. […]
On Friday, amid lack of important news, the euro was trading within the range of 30 points and according to rumors the traders closed deals after buoyant demand on July 10-16. Today at 18:00 UTC+4 data on Pending Home sales in the US in June is issued; forecast -1.2% vs. 6.7% in May. At 18:30 […]
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 05, 2024 April 7, 2024 Potential for the further drop on NAS100 ….The material has…Why is gold defying gravity? – Special Report April 7, 2024 Gold […]
USDJPY has extended lower on Monday, reaching a low of 97.62 in the Asian session, where the pair found support during the European Session. This support level is the 50% Fibonacci level of the move from 93.78 on June 9 to 101.52 on July 7 on the weekly chart. On the Daily chart, prices have […]
Technical outlook and chart setups: The metal remains subdued below 20.50 region and the immediate line of support is being tested again below 20.00. If short positions have been initiated earlier, it is recommended to hold or stay flat. Silver is lagging behind Gold on the higher side, and overall chart setups indicate that the […]
This week, the EUR/JPY pair continues its Bearish situation. It is already indicated by all the three moving averages making a “Death Cross” pattern. For today if the EUR/JPY pair can breach below the 129.75, this will be the sign for this currency to continue going down. RECOMMENDATION: SELL Stop (Pending Order) is at 129.74. […]
Gold as expected reversed lower in an impulsive manner. However, our target remains 1,300 and lower in order to at least meet the conditions of a downward correction. Our view remains that the entire rise from 1,180 is a corrective A-B-C wave and now we start a new downward impulsive move. From 1,348 we have […]
On Friday, the Dollar Index continued to trade lower towards 81,50. Short- and intermediate-term trend remain down. Support is found at 81.50 where the 76.4% Fibonacci retracement is, as shown in the chart below. In the long term our view remains bullish as we believe that this area will mark a low for the Dollar […]
Today’s Support and Resistance levels: R3: 1.6526 R2: 1.6485 R1: 1.6454 Current Spot: 1.6425 S1: 1.6396 S2: 1.6349 S3: 1.6339 Technical overview: We are still looking for confirmation, that wave ii is over and wave iii higher is ready to take over. The first indication of wave ii being over will be a break above […]
