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 two established bottoms around 1.4825 and 1.5050, Moreover, the GBP/USD pair expressed daily […]
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 false breakout was quickly followed by intensive bearish pressure that led to breakdown of 1.0450 and 1.0380 […]
Consolidation above the previously broken uptrend line goes on this week too after the pair expressed bullish breakout above consolidation range between 1.5050 and 1.5200. The weekly candlestick came bullish for the 2nd week in a row closing at 1.5264 after the pair found strong demand at 1.5050 corresponding to the lower limit of congestion […]
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 2nd week in a row closing at 1.3140 after the pair found strong demand at 1.3060-1.3075 corresponding to SMA 100 and the lower limit of […]
The dollar slid against the yen after some disappointing U.S. economic data on the housing sector. USDJPY extended losses from a pre-data price of 99.53 to fall to 99.27 yen a few minutes after the release of the U.S. existing home sales data at 10am New York time on Monday. According to a report released […]
The Group of Twenty (G20) held a two day meeting in Moscow on Friday and Saturday where finance ministers and central bankers of the world’s twenty most riches countries gathered to discuss the global economy. The gathering in Moscow is seen as a precursor to September’s G20 summit in St. Petersburg. On the agenda was […]
On 20 July 2013, XM hosted their latest free forex workshop in Limassol, Cyprus. XM clients residing or currently staying in Limassol had the opportunity to attend the Learn to Earn Intraday Trading free seminar on 20 July, presented by Certified Instructor and Portfolio Manager Avramis Despotis. Especially customized for intraday traders keen on acquiring […]
Currency markets were quiet during Monday’s European session, with no key economic data releases today. The Japanese yen was the main focus today, as it remains stronger after news of Prime Minister Shinzo Abe’s decisive victory in elections for Japan’s parliament’s upper house. The election win was already priced into markets, so it was the […]
Japan’s ruling Liberal Democratic Party (LDP) led by Prime Minister Shinzo Abe, has won victory in last Sunday’s Upper House elections, meaning Abe now has control of both chambers in the parliament. The LDP first won majority for the Lower House seats back in December 2012, leading to a “bicameral parliament” but after winning the […]
Overview: Since our last analysis, the EUR/NZD pair has been trading in upwards movement, as we expected, the price tested level 1.6640. Anyway, 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 […]
Overview: Since our last analysis, Gold has been trading in upwards movement, price broke our FE 100% at price 1,295.00 and tested level 1,323.00 as we marked on previous analyses like potential scenario. I placed Fibonacci expansion levels to find the potential end of up corrective phase. Thus, price broke FE 100% (1,295.00), we may […]
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:Forex forecast 04/23/2024: EUR/USD, GBP/USD, Oil, SP500 and… April 23, 2024 We introduce you to the daily updated section of Forex…What do the smaller US surveys say about the US economy? […]
The Dollar index continues its sideways grinding lower as part of the downard corrective move that started at 84.75. The recent downward move is corrective as implied by the overlapping pattern. There is no clear downward impulsive move here and we still believe that prices are heading towards 82.10-20 area near the 61.8% Fibonacci retracement. […]
Gold made a break out earlier today during the trading hours of the Asia session. As we had mentioned several times before in our previous posts, Gold was expected to make an upward break towards $1,320-40 to finish the corrective wave C that started at $1,208. The sideways pattern that was formed, gave us clear […]
On Friday, the European currency was trading rather calmly against the US dollar. All the attention was turned to the measures taken by People’s Bank of China and during the election in Japan which led aside major investors from investing into risk assets. Trading closed in favour of the euro. It strengthened against the US […]
USD/CAD Elliott Wave Last week the USD/CAD pair was trading in a triangle consolidation pattern and we can consider this move as possible corrective wave 4 (coloured blue). During Friday’s Asian and European sessions we could observe ascending movement from 1.0360 towards the 1/0392 level and we can consider this move as the end of the final […]
July 22nd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist A sharp rally in gold prices overnight with the yellow metal hitting a high of $1.319.70, provides European share markets, particularly precious metal stocks, with a degree of support early Monday. Asian shares were mostly mixed with Japanese stocks losing a bit of momentum […]
Weekly pivot point: Trading recommendation: According to the previous events, the price of the GBP/USD pair is still between the levels of 1.5270 and 1.5310. The descending movement will probably be lower than the 1.5380 level with the first targets at 1.5280 and 1.5225. Buy deals are recommended above the 1.5191 level with targets […]
Daily chart: The USDX is forming a higher low pattern, above the support at the 82.51 level. This is a very important part in the development of the USDX bearish trend, because if this manages to break that level, the fall could be extended to the level of 81.50, near the 200-day moving average. However, […]
AUDUSD Elliott Wave Since our last analyses the AUD/USD pair has been trading upwards, just like we expected, impulsive wave .5 (coloured green) of the bigger wave C (coloured blue) has been developing. During the Friday’s Asian and European sessions we could observe ascending movement from 0.9156 towards the 0.9195 level. Therefore, during the New […]
Today’s Support and Resistance levels: R3: 1.6726 R2: 1.6685 R1: 1.6623 Current Spot: 1.6578 S1: 1.6531 S2: 1.6507 S3: 1.6488 Technical overview: The rally from 1.6558 to 1.6685 was a minor five wave rally, but it was a c-wave rally of a minor expanding flat correction and not the first wave of an impulsive rally. […]
Today’s Support and Resistance levels: R3: 132.78 R2: 132.27 R1: 131.84 Current Spot: 131.43 S1: 131.05 S2: 130.81 S3: 130.30 Technical overview: After the break above the channel resistance line we are looking for a rally back towards the top at 133.81 in a flat correction, which would mark the b-wave and should be followed […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 100.58. Resistance 2: 100.38. Resistance 1: 100.19. Support 1: 99.94. Support 2: 99.75. Support 3: 99.55. DESCRIPTION: Please pay attention to the levels of support 3 (99.55) and resistance 3 (100.58). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, […]
TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.3221. Strong Resistance: 1.3213. Original Resistance: 1.3200. Inner Sell Area: 1.3187. Target Inner Area: 1.3156. Inner Buy Area: 1.3125. Original Support: 1.3112. Strong Support: 1.3099. Breakout SELL Level: 1.3091. DESCRIPTION: Today EUR/USD has support and resistance at 1.3112 and 1.3200. The rate is accompanied by strong support at […]
The EUR/JPY pair is still in the uptrend situation but the retrace has already happened. Otherwise it did not touch the EMA 100 (green); from this situation we can get a signal that uptrend situation will be slower. As long as it has not breached bellow the EMA 100 (green), the uptrend situation still continues. […]
Weekly technical levels: General idea about the pivot point: R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and […]
EUR/USD: This pair closed at 1.3141, in what could be rightly termed a bullish mode. This bullish mode is expected to continue this week, reaching the resistance lines of 1.3200 and 1.3250 respectively. Along the way, normal corrections ought not take the price below the support line of 1.3000. USD/CHF: USD/CHF is also expected to […]
Daily chart: GBP/USD is trying to break the resistance at the 1.5266 level to continue to rise and move closer to the 200 day moving average. During this week, we could wait for GBP/USD to break this level and go up to the level of 1.5407. However, we must bear in mind that this pair […]
The yen strengthened after Japan’s Prime Minister Shinzo Abe’s coalition wins the country’s Upper House elections on Sunday. Abe’s win gives him greater control over the government to push ahead reforms and aggressive monetary policy. The question now dominating investors’ minds is how he will go ahead implementing these reforms. As a result there was […]
The U.S. dollar is softer overall today, down 0.2 percent versus euro and losing 0.3 percent against sterling. EURUSD traded the US session between $1.3101 and $1.3152. GBPUSD edged higher to $1.5276 from $1.5250. Dollar was also weak against the yen, where most of the focus was today as markets want to take some risk […]
