Daily chart: The GBPUSD pair failed to break the resistance level at 1.5159 and reached out to touch the resistance level at 1.5266. Now, this pair is forming a lower high pattern below that level if GBPUSD achieves in breaking it, it is expected to rise to the level of 1.5407. On the other hand, […]
Technical outlook and chart setups: The single currency pair bounced off right at the rising uptrend line yesterday, after printing lows intraday. The Fibonacci 0.786 ratio of the rally from 1.4075 to 1.4800 is also coinciding the bullish bounce. Keeping this into consideration, it is recommended to quit short positions and initiate long positions for […]
Daily chart: The USDX is trying to break the support at the 82.51 level, to approach the 200-day moving average near the support at the 81.50 level. Now, the USDX is forming a higher low pattern and if the USDX fails to make a bullish rebound at current levels, it would be expected to rise […]
Federal Reserve Chief Ben Bernanke gave his testimony on the U.S. economy to the U.S. Congress on Wednesday, providing nothing new as he reiterated that the Fed will slow asset purchases later this year as long as the economic data improve. “Our asset purchases depend on economic and financial developments, but they are by no […]
July 18th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Visit http://www.etxcapital.co.uk/ Find us on social media to be kept up to date with the latest ETX Capital news: Facebook: https://www.facebook.com/#!/ETXCapita… Twitter: https://twitter.com/#!/etxcapital LinkedIn: http://www.linkedin.com/company/44542… ETX Capital’s RSS site: http://my.etxcapital.co.uk Related Posts:Video market update for April 08, 2024 April 8, 2024 Potential for the […]
The dollar extended gains in the Asian session on Thursday as markets reacted positively to commentary from Federal Reserve Chairman Ben Bernanke on Wednesday. Bernanke provided no surprises in his testimony and did not seem to suggest any major shift in his stance on tapering stimulus later this year. Bernanke still left intact the prospect […]
The highlight of the day was Ben Bernanke’s testimony in from of the U.S. Congress and his answers to questions on the economy. The Federal Reserve Chief’s comments basically reinforced what markets already know as he reiterated that scaling back the Fed’s bond buying program would be data-dependant. Bernanke maintained his dovish in tone, and […]
This morning at the American session, the Australian dollar was at the very bullish trading at 0.9275 levels, close to the strong resistance of 0.9309. Given that it is showing overbought levels, according to our momentum indicator, it is more likely to observe an imminent decline for the next few hours. So it is recommended […]
The pound sterling had an upward movement on all fronts because the BoE unanimous vote to maintain unchanged interest rates and bond purchase plan, as it has happened in recent months. This data gave strong upward movement; the pound is located below the 1.5283 weekly resistance. Given that this area is very strong and […]
During the American trading session the EUR/USD pair has not changed. Federal Reserve Chairman Ben S. Bernanke said the central bank’s bond purchases “are by no means on a preset course” and may be reduced more quickly or expanded as economic conditions warrant, thus the US dollar erased its gains. Therefore, observing our chart, […]
Forecast (GBP/USD): According to the previous events, the price has still been trapped between 1.5200 and 1.5130. Buy above 1.5050 with the first target of 1.5203, it might resume to 1.5280. Stop loss should be set below 1.5025. Below 1.5283 (1.5221: 100% of Fibonacci retracement levels) look for further downside with targets at 1.5153 […]
Overview: USD/CHF’s subsequent sharp fall suggests that decline from 0.9615 had resumed to test 0.9403. Moreover, the pair has already formed a strong support at this psychological level of 0.9300. As well as, it should be noted that the price has still been trapped between 0.9370 and 0.9425. Therefore, after it could not close below […]
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 26th. Bulls continue to advance after the GDP… April 26, 2024 The EUR/USD pair on Thursday rebounded from the corrective level…Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed […]
Wave Analysis: As it was expected, yesterday when trading session opened, the EUR/USD pair continued upward movement; it had managed to add 100 points by the end of the day. It looks like before Ben S. Bernanke speaks, trading will be rather volatile and the price continues growing towards the level of 1.3260. if it […]
During today’s European session the Bank of England dominated the markets, with the release of the last policy meeting minutes, which showed that the bank’s policy makers voted unanimously to keep the asset purchase program and interest rates unchanged. Upbeat U.K. jobs data also boosted the pound immediately after the data at 9:30am London time. […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading lower, so we have changed our primary wave count a little bit. Yesterday, during the Asian and European sessions we could observe descending movement from 1.0439 towards the 1.0362 level and we can consider this move as the end of the corrective b wave (coloured green) […]
AUD/USD Elliott Wave For the last few days the AUD/USD pair has been trading upwards, we are tracking this move as potential wave 3 (coloured green) of the bigger wave C (coloured blue). Yesterday, during the Asian and European sessions we could observe ascending movement from 09167 towards the 0.9260 level and we can consider this move […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards movement, as like we expected, price tested level 1.6757. 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 situation on (4H) time frame […]
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 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, we […]
Sterling jumped against the dollar rand the euro on Wednesday after investors reacted positively to the minutes of the last Bank of England policy meeting on July 3-4 that were released at 9:30 am London time. The central bank’s Monetary Policy Committee (MPC) voting pattern was revealed, showing all MPC policy makers voted unanimously to […]
Daily chart: CL continues trying to break the resistance at 106.70 level. However, CL resists to fall to the support level at 103.85. Now, CL is forming a lower high pattern, to continue rising, but we must stay aware before an imminent turnaround, because the buy orders in CL are being depleted and the MACD […]
TODAY’s NEWS RELEASES: 1. US – Building Permits . 2. US – Fed Chairman Bernanke Testifies . TODAY’S TECHNICAL LEVELS: Resistance 3: 99.89. Resistance 2: 99.70. Resistance 1: 99.50. Support 1: 99.26. Support 2: 99.07. Support 3: 98.87. DESCRIPTION: Please pay attention to the levels of support 3 (98.87) and resistance 3 (99.89). Normally, when a […]
TODAY’s NEWS RELEASES: 1. US – Building Permits . 2. US – Fed Chairman Bernanke Testifies . TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.3213. Strong Resistance: 1.3205. Original Resistance: 1.3192. Inner Sell Area: 1.3179. Target Inner Area: 1.3148. Inner Buy Area: 1.3117. Original Support: 1.3104. Strong Support: 1.3091. Breakout SELL Level: 1.3083. DESCRIPTION: Today EUR/USD has support and […]
It seems that 130.75 has already provided a strong resistance. For the uptrend to continue the EUR/JPY pair must have a small retracement but not touch the EMA 100 (green). RECOMMENDATION: SELL Stop (pending order) is at 130.49. Take profit is at 130.35. Stop loss is at 130.59. Best regards, Arief Makmur Official […]
Dollar index has made a new low at 82.39 yesterday as expected by our analysis. We mentioned that the upward move from 82.42 was overlapping and not impulsive, therefore we labeled it as corrective. We were expecting this downward move to complete near the 61.8% Fibonacci retracement but it just made a narrow new low. […]
Gold managed to reach previous highs but prices got rejected at resistance. This first failure to break above the last high is not something bulls should worry about as it is very common to break resistances after second time. Gold is pulling back down now (currently at $1,285) to test suport levels. The sidways triangle […]
EURUSD: The EURUSD pair retains its potential to continue trending northward, in the face of the extant Bullish Confirmation Pattern on the chart. The present pullback is expected to be temporary in nature. Today or tomorrow, it may be possible for this pair to end up trading above the resistance line of 1.3200. USDCHF: It […]
Daily chart: The GBP/USD pair is trying to break the resistance level 1.5159. Still this pair is forming a lower high pattern, to continue rising. However, these movements can be corrective and could continue the general bearish trend in GBPUSD. If the GBPUSD pair does make a bearish rebound at current levels, it would be […]
Today’s Support and Resistance levels: R3: 1.6818 R2: 1.6756 R1: 1.6707 Current spot: 1.6680 S1: 1.6637 S2: 1.6608 S3: 1.6582 Technical overview: We are looking for a break above minor resistance at 1.6707 and, more importantly, resistance at 1.6756 soon to confirm that the next powerful rally is developing. This next rally will likely take […]
Today’s Support and Resistance levels: R3: 131.31 R2: 131.12 R1: 130.82 Current spot: 130.54 S1: 130.43 S2: 130.25 S3: 130.00 Technical overview: Since the break above the channel resistance line occured we have seen a consolidation, but it should not be long before we see the next rally higher towards 131.37 and 132.48 as the […]
