On Friday, the EUR/USD pair expressed quite significant bearish weekly closure at 1.2830 after hiting the previously mentioned demand zone extending between 1.2750-1.2820. This demand zone corresponds to a previous low established in May as well as another buttom established in March. It’s expected for the pair to gain some recovery off this support zone […]
Weekly pivot point: Trading recommendation: According to the previous events, the price of the GBP/USD is still between the levels of 1.4960 and 1.4855. The descending movement will probably be lower than the 1.5030 level with the first targets at 1.4975and 1.4953. Buy deals are recommended above the 1.4730 level with targets at […]
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 […]
Overview: Since our last analysis, Gold has been trading downwards as we expected. It continued down and tested the level 1,207.87. We rejected from FE 261.8 % (1H chart ) at price 1,267.00 and tested 1,207.87. I placed Fibonacci expansion levels to find the potential end of up corrective phase. Thus, I got FE 261.8% […]
AUD/USD Elliott Wave Last week the AUD/USD pair has been trading downwards, just like we expected, corrective wave B (coloured blue) of the bigger wave [4] (coloured red) has been developing. During the Fridays, Asian and European session we could observe descending movement from 0.9178 towards the 0.9094 level. Therefore, during the New York session this […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading upwards, so we changed our primary wave count a little bit. During the Fridays Asian and European session we could observe strong ascending movement from 1.0510 towards the 1.0607 level. Therefore, during the early New York session this commodity currency did not […]
Overview: Since our last analysis the EUR/NZD pair has been trading upward movement, price rejected from level 1.6412 and tested level 1.6683. The level 1.6412 may be potential end of down correction but there is a still space for more down before we continue upward. I placed Fibonacci expansion to find levels where corrective phase […]
Technical outlook and chart setups: The wave structure for Silver here is pretty similar to Gold. The rally from sub 18.00 levels to sub 20.00 levels has been retraced around 0.618 levels at the moment. A bullish reversal is expected here; and hence recommendations […]
Dollar Index is showing signs of a short term at least top at the 84.55. Our bullish targets as mentioned in previous posts were fulfilled and it is time to see a downward correction. The upward sloping trend channel still contains the trading prices of the Dollar Index. Support is being tested today at 84.30 […]
The euro moved off seven – week lows against the dollar despite a broadly stronger greenback after Friday’s upbeat nonfarm payrolls report. After a strong rally following the release of the jobs data, the dollar was due for a pullback, giving some relief for the euro’s decline. There was some mixed data from the Euro […]
We gladly report about the latest free forex workshop hosted by XM and held in Heraklion, Greece, on 6 July 2013. Numerous investors and traders attended the recent venue of the free XM forex workshop Learn to Earn Intraday Trading in the Greek city Heraklion last week. During the seminar, Certified Instructor and Portfolio Manager […]
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 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April 18, 2024 We introduce you to the daily updated section of Forex…Video market update for April 18, 2024 April 18, 2024 Potential […]
Technical outlook and chart setups: The metal seems to have formed a bottom at 1,180.00 levels now. Further more, the rally from 1,180 to 1,260/70 levels has also been retraced down to 1,210 levels, before bouncing. Looking into the wave structure here, it is […]
Technical outlook and chart setups: This currency pair is set to resume lower towards atleast 119/120 levels. It is recommended to remain short at current levels and also look to add further positions. Resistance is above 132.00, followed by 134.00 levels, while major support […]
Technical outlook and chart setups: The currency pair has been trading in wild swings between 1.4250 and 1.4500 during the last week. After having stopped out on long positions, it is recommended to remain flat for now. Looking into the fall from 1.4800 levels, […]
GOLD has bottomed as expected near 1,215 and is now trying to start a new upward move. As noted in previous posts, Gold at 1,208 completed wave B of the upward correction that started at 1,180; finished wave A at 1,266; moved down to 1,208 for wave B and now is starting wave C up […]
Daily chart: The CL is making a possible bearish rebound in the resistance at 103.85 level. It is likely that below that level the CL forms a lower high pattern to continue rising. If the CL manages to break this resistance, it is expected to rise to the level of 106.70. On the other hand, […]
Daily chart: The USD/JPY opened the week with a small GAP and it stays above support at 100.94 level. The next target for this pair bullish the resistance at the level of 102.12. If the USD/JPY manages to break that resistance, it would be expected to rise to the level of 103.20. But keep in […]
TODAY’s NEWS RELEASES: 1. Current Account . 2. Bank Lending y/y . 3. Economy Watchers Sentiment. TODAY’s TECHNICAL LEVELS: Resistance. 3 : 101.76. Resistance. 2 : 101.56. Resistance. 1 : 101.36. Support. 1 : 101.11. Support. 2 : 100.92. Support. 3 : 100.71. DESCRIPTION : Please, pay attention to the levels of […]
TODAY’s NEWS RELEASES: 1. Euro Groups Meeting. 2. Mario Draghi Speech. TODAY’s TECHNICAL LEVELS : Breakout BUY Level: 1.2876. Strong Resistance: 1.2869. Original Resistance: 1.2856. Inner Sell Area: 1.2843. Target Inner Area: 1.2813. Inner Buy Area: 1.2783. Original Support: 1.2770. Strong Support: 1.2757. Breakout SELL Level: 1.2750. DESCRIPTION : Today the EUR/USD has support and […]
Today’s support and resistance levels: R3: 1.6688 R2: 1.6643 R1: 1.6613 Current Spot: 1.6587 S1: 1.6578 S2: 1.6555 S3: 1.6524 Technical overview: With a decline to 1.6390 and a very powerful rally to follow this drop our scenario has played out almost to perfection. We are now looking for support near 1.6578 to protect the […]
July 8th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Stocks in Europe jumped higher at the start of Monday’s session, propelled by Wall Street’s late advance on Friday as investors digested the solid US monthly jobs report. Reaction to the report was dramatic; stocks on both sides of the Atlantic rose after the […]
Today’s support and resistance levels: R3: 130.86 R2: 130.48 R1: 130.28 Current Spot: 129.89 S1: 129.64 S2: 129.17 S3: 128.83 Technical overview: On Friday we saw a failure to break below important support at 128.65. The failure caused a new rally, but this rally is most likely the part of wave ii of iii […]
The Dollar Index continued higher towards our targets as mentioned in previous posts. The sequence of higher highs and higher lows remains intact and validates our bullish view. The trend is up and this is confirmed by the weakness in the EUR/USD by making new lows. Don’t forget that the EUR/USD is the biggest component […]
For today, EUR/JPY has been trapped between the range of 128.75-130.00; please pay attention to the Euro Group Meeting and Mr Mario Draghi speech this afternoon. RECOMMENDATION: Sell stop (pending order) at 129.49. Take profit at 129.35. Stop loss at 129.59. Alternative: Buy stop (pending order) at 130.26. Take profit at 130.40. Stop loss at […]
EUR/USD: EUR/USD has been weak, and the fundamentals have aided this weakness. The pair recently dropped by over 170 pips, closing at 1.3830. This week, it is possible that the pair would reach the support line at 1.3750, since there is still a vivid Bearish Confirmation pattern in the chart. USD/CHF: It can be seen […]
The dollar held onto gains in early Monday trading during the Asian session, as regional markets consolidate profits made after the strong US jobs report on Friday. The nonfarm payrolls numbers added to expectations for a near-term end to the Federal Reserve’s stimulus program. The US Bureau of Labor Statistics reported that 195,000 jobs were […]
When it comes to improving your wave-based analysis and technical trades, three steps may sound simple enough. Yet if you have any experience trading, you know that nothing about trading is easy. Senior Analyst Jeffrey Kennedy knows that it takes skill, discipline and courage to execute a successful trade. In the new book he has […]
The USD/CAD pair rose steeply last week approaching the key resistance level of the ascending channel around at 1.0530 as depicted in the chart. Since then, the pair has established a consolidation range between 1.0450-1.0560. Despite the signs of bearish reversal expressed around 1.0550, all trials for breakdown below 1.0450-1.0425 have been aborted. Today we have an obvious […]
This week, a bullish price action was expressed around 61.8% Fibonacci level depicted on the daily chart around 1.5130 which was followed by the marked price fall below all the strong levels at 1.5180 and 1.5020. Now the pair is fixed below 1.5000-1.5020 which adds further bearish pressure to the pair to reach 1.5830 (previous monthly low) where […]
