Today’s support and resistance levels: R3: 131.12 R2: 130.81 R1: 130.28 Current spot: 129.79 S1: 129.41 S2: 129.06 S3: 128.65 Technical overview: Yesterday we moved a little higher, than our expected resistance at 130.69 (the high came in at 130.80), before the floor was dragged away under this cross. The decline from 131.12 down to […]
The Asian session on Thursday was relatively quiet as most investors are waiting on the sidelines for the European Central Bank meeting later today, while volumes were light due to the U.S. Independence Day holiday today. Risk aversion was back and safe haven assets were in demand, giving the yen a lift. As a result, […]
Yesterday, EUR/JPY already breached bellow the EMA 100 (green) and went back above the EMA 100 (green) again. The bullish situation has already slowed down and the EMA 14 (red) is now between the EMA 34 (blue) and the EMA 100 (green). It indicates that EUR/JPY is now in the ranging situation. RECOMMENDATION: Buy stop […]
The dollar traded higher against the yen during the U.S. session on Wednesday, bouncing off earlier lows, after being lifted by better-than-expected jobs data. The private payrolls processor ADP reported more jobs were created in June, with the U.S. economy gaining 188,000 positions from the prior month’s 134,000 and beat forecast of 161,000 jobs. A […]
Overview As it was expected yesterday, the metal could continue its upward move after closing above the resistance level of 19.55. Today, as shown on the H4 chart, the metal took a slightly upward move after it has managed to close 4H above the resistance level of 19.55. More bullish signals are expected as […]
Overview According to the today’s H4 chart, yesterday’s closing below the resistance level of 152.00 gave the price an opportunity to make a bearish move after it has failed to break it through. As shown here, currently the price is trying to continue its bearish move and is approaching support level 150.80. In that […]
The Australian Dollar reached the expected goal at the level of 0.9053. This level should be consolidated before a new movement, either upward or downward. The strong area of support is at 0.9012, while the dynamic resistance, which is under the downward pressure, is at 0.9390. These levels are the Aussie’s range levels for the […]
The British pound gains positions against the dollar after the release of the UK PMI services, with a better-than-expected increase. However, the dynamic short term is bearish and the pair is likely to face the 1.5283 level, weekly pivot point level. If the pair closes the day above this level, it will be a good […]
The euro recovers after temporarily breaking the first weekly support 1.2945, reaching the minimum of this month in 1.2922, strong support from medium term. The current bullish momentum could reach 1.3048 area, where the weekly pivot is. Therefore, if the price of the pair backs to support levels, it will be a good opportunity to […]
The USD/CAD pair rose steeply last week approaching key resistance level of the ascending channel around at 1.0530 as depicted in the chart. The pair expressed a quite significant bearish movement during last week due to bearish rejection expressed at the upper limit of the ascending channel. Today, the possibility of a downside move is still intact, […]
On the 4H chart, the backside of the broken channel around rejected the pair twice at testing of price levels 1.5680 and 1.5750 respectively. Sine then, strong bearish pressure has been applied that lead to the breakdown of 1.5600-1.5580 that took place last week. This week, today in particular, 61.8% Fibonacci level depicted on the […]
This week, the cable consolidated after hiting a low of 1.5165 last week. This consolidation extended up to 1.5250 which seemed to be minor weak retracement then the bears pressed for new lows, they have hit 1.5128 so far. The prominent support located around 1.5130-1.5150 (depicted uptrend line and previous double buttom pattern) is expressing […]
As mentioned before, Gold is making a corrective move downwards after the 1179-1266 upward move. After finishing 5 waves up, prices are now moving down correctively. Waves A and B are most probably finished and we are expecting wave C down to reach near 1225$ area. Although prices managed to break above the downward sloping […]
The dollar rebounded from a sharp fall against the yen after the release of strong U.S. employment data on Wednesday. A report showed initial weekly jobless claims fell for a second straight week, suggesting a stabilizing labor sector. The data comes just after the private ADP jobs report which showed the number of jobs created […]
The EUR/USD pair reached demand zone around 1.3000 after the significant decline witnessed at retesting of 1.3400 ( downtrend line ) which took place on June 19. On Friday, the pair expressed significant price action, as the pair expressed false breakout above high of last Thursday’s daily candlestick which enhances the bearish pressure further below […]
The Dollar Index is pulling back down after buying interest in EUR/USD has raised prices from 1.2923 lows to 1.2960. Additionally, the decline in the Index is also influenced by the selling pressures in USD/JPY that has reversed from 100.86 to 99.40. The index is now trading near 83.42 just above its short-term support. For […]
Overview: The NZD/USD is to trade in lower range. Undermined by positive USD sentiment; there are worries over economic slowdown in China. But NZD/USD losses are tempered by Kiwi demand on soft AUD/NZD cross. The daily chart is mixed as stochastics reverted to bearish mode at oversold; but the MACD is flat, five-day moving average […]
Overview: The USD/CAD pair has still been trapped between 1.0455 (78% of Fibonacci retracement levels) and 1.0550 (100% of Fibonacci retracement levels). The support sets at the level of 1.0435, therefore the bulls are going to buy above 1.0435 with the first target of 1.0415, it might resume to 1.0525. The double top on the […]
GBP/USD: Resistance: 1.5340 (sell below this level). Support: 1.5135 (buy above this level for retesting this level for a short period). Trend (time frame: H1/H4): downward (there is still an ongoing bearish trend). Range: 315 pips (weekly). Volatility: 482.60. The weekly pivot point will be set at the level of 1.5283. Trading recommendations: According to […]
Overview: The USD/CHF is to consolidate with bullish bias after hitting one-month high of 0.9529 Tuesday. Underpinned by positive USD sentiment, the USD/CHF gains tempered by franc demand on retreating EUR/CHF cross. The daily chart is positive-biased as the MACD is bullish, stochastics stays elevated at overbought; 5- & 15-day moving averages are rising. Trading […]
Overview: The USD/JPY is to consolidate with bearish bias after hitting one-month high of 100.86 this morning. Underpinned by positive USD sentiment (ICE spot dollar index last 83.53 vs 82.98 early Tuesday) as bigger-than-expected 2.1% rise in U.S. May factory orders (vs +2.0% forecast) bolstered expectations that the Federal Reserve might begin reining in its […]
Overview: The GBP/JPY is to consolidate with bullish bias after hitting three-week high. Underpinned by strong USD/JPY undertone and demand from Japan importers. But GBP/JPY gains tempered by Japan exporter sales. A daily chart is positive-biased as the MACD & stochastics are bullish; five-day moving average above 15-day MA and advancing. Trading recommendations: The pair is […]
USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading upwards, impulsive wave 5 (coloured blue) of the bigger wave [1] (coloured red) has finished developing. Yesterday, during the Asian and European session we could observe ascending movement from 1.0500 towards the 1.0577 level and we can consider this move as […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading downwards, just as we expected, impulsive wave 5 (coloured blue) of the bigger wave [3] (coloured red) has been developing. During the Tuesday’s Asian and European session we could observe descending movement from 0.9210 towards the 0.9128 level. Therefore, during the New York […]
Overview: Since our last analysis Gold has been trading downward moves, as we expected. We rejected from FE 261.8 % (1H chart ) at price 1,267.00 and tested 1,236.00. I placed Fibonacci expansion levels to find potential end of up corrective phase. Thus, I got FE 261.8% at price 1,269.00 and if that level holds, […]
Overview: Since our last analysis the EUR/NZD pair has been trading sideways moving around price 1.6750. Thus, we are still waiting to see larger move on this pair. Current situation on (4H) time frame is that there is an increasing volume on previous up move, which is a sign there is demand on the market. […]
The Euro had a choppy session after some mixed economic data. Euro zone service sector activity fell unexpectedly in the last quarter, as the Purchasing Managers Index (PMI) fell to 48.3, from 48.6 in the preceding quarter. Expectations were for the index to remain unchanged at 48.6 in the last quarter. Meanwhile headlines from Portugal […]
Sterling jumped against the dollar and the euro after U.K. data beat forecasts and expanded at the fastest rate since March 2011 last month, easing concerns over the country’s economic outlook. The Purchasing Managers Index (PMI) for the services sector surprisingly rose higher-than-expected and higher than the previous month. The June PMI compiled by Markit […]
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 […]
Daily bars, general picture: AUD/USD continued to decline. The daily chart shows that the pair maintained its downtrend, stalling below 0.92 in the oversold area. There are no significant changes in the volumes. Both MACD histogram and stochastic go down which signifies the bears power. System analysis: As the prevailing mood is bearish, it is […]
