Last Tuesday, despite encouraging macroeconomic data on Spain and the USA, the euro tumbled 85 points, whereas the Dow Jones dived 0.29% amid political instability in Europe and Egypt. Portuguese Foreign Minister has handed in his resignation which contemplates early election and will undoubtedly have a negative impact on stimulus measures. The Egypt’s High Court […]
July 3rd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Political turmoil in Portugal pushes the country’s 10-year bond yields to climb to 8% for the first time since November 27, sparking fears the country will have to request help from the ECB. Two high profile ministers resigned from Portugal’s government over the past […]
Yesterday United Kingdom reported that construction PMI reached 51.0 level against forecasted 51.3. The pound sterling lost 60 points amid the news from Europe: Portuguese Foreign Minister resigned, political situation in Egypt is still unstable and may trigger the state of emergency. At 12:30 (GMT+4) services PMI for June is due. The indicator is expected […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 101.09. Resistance. 2 : 100.89. Resistance. 1 : 100.70. Support. 1 : 100.45. Support. 2 : 100.26. Support. 3 : 100.06. DESCRIPTION: Please, pay attention to the levels of support 3 (100.06) and resistance 3 (101.09). Normally, when a level is touched, the USD/JPY will […]
TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3038. Strong Resistance: 1.3021. Original Resistance: 1.3018. Inner Sell Area: 1.3005. Target Inner Area: 1.2975. Inner Buy Area: 1.2945. Original Support: 1.2932. Strong Support: 1.2919. Breakout SELL Level: 1.2912. DESCRIPTION : Today the EUR/USD has support and resistance at 1.2932 and 1.3018. The rate is accompanied by strong […]
Daily chart: The Crude Oil has broken off a very strong resistance at 100.33 level. Its next target in the medium term will be up to resistance at 103.85 level. For now, it’s highly recommended to follow with the buy orders in the CL, because of the large upward trend that has been developing in […]
Daily chart: The GBP/USD is trying to break the support at the 1.5159 level. Now, this pair is approaching the bullish trend line near 1.5097 level. If the cable does break this trend line, it is likely to fall to the level of support 1.5023. On the other hand, if the GBP/USD manages to make […]
Today’s support and resistance levels: R3: 131.12 R2: 130.86 R1: 130.69 Current Spot: 130.55 S1: 130.30 S2: 129.83 S3: 129.38 Technical overview: We have seen a rally to 131.12 as the high, which is just below our ideal target for red wave c at 131.27. We think there is a very high possibility that the […]
Today’s support and resistance levels: R3: 1.6846 R2: 1.6815 R1: 1.6754 Current Spot: 1.6731 S1: 1.6681 S2: 1.6600 S3: 1.6555 Technical overview: We have gone nowhere since yesterday. Trading in a sideways consolidation, which still leaves room towards the upside, to finish the x-wave 1.6908. However, to confirm a rally towards 1.6908 we need a […]
The U.S. Dollar Index has been mainly influenced by new lows in EUR/USD after breaking below 1.30. It is heading higher, maintaining its bullish trend. Both short and intermediate term trends remain bullish. The short-term support is found at 83.25-15 level, whereas intermediate-term support is found at 82.85 price level. As the chart shows below, […]
EUR/USD: EUR/USD has continued going downwards – testing new lows. This time around, the new low to be tested is the support line at 1.2900, after it has breached the support line at 1.2950 to the downside. However, this could come with some bullish threats, which could be temporary in nature. USD/CHF: This pair has […]
With the high tension in Egypt that cause the Crude Oil (CL) jump to the range between the 99-100 levels, we must be careful for the unexpected move for EUR/JPY today still give us a healthy uptrend situation, which is already indicated by, firstly, all the three moving averages are still pointing up and form […]
Most currency pairs consolidated during a quiet Asian session. Markets are waiting for key risk events, mainly central bank policy meetings by the European Central Bank and the Bank of England tomorrow, as well as the closely watched U.S. nonfarm payrolls data. The biggest mover though was the Australian dollar which continues to be hammered, […]
After a huge sell off in Gold, last Friday was marked as a reversal day. The precious metal has made a strong reversal from $1,179 to $1,230 within a day, signalling that at least a short-term bottom was placed. As you can see in the first chart below, Gold has moved upwards in an impulsive […]
The dollar extended gains against the other major currencies in the US session, after being boosted by data showing U.S. manufacturing picked up in May, adding to evidence that the world’s largest economy is strengthening. The U.S. Commerce Department said factory orders increased by a seasonally adjusted 2.1 percent, beating forecasts for an increase of […]
The Australian dollar fell after having touching the 0.92 area amid the RBA’s decision on the monetary policy stance. The regulator left its benchmark rate unchanged. As the result the pair fell to the daily support level. There is a likelihood that the pair will fail to break the low of 0.9109 which intensify the […]
Overview Today’s H4 chart shows that the metal is still trading between the support level of 18.55 and below the resistance level of 19.55. After its failure to break the resistance level yesterday, silver bounced from it to take a slightly downward below the resistance level 19.55. Presently we suggest waiting for closing above the […]
Overview Today’s H4 chart shows that the pair might take a new bullish signal after it opened above 150.80 level with the beginning of the current week, as it was expected. Today the pair took an upward movement and managed to reach the resistance level of 152.00 trying to break it through to continue […]
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. Bearish rejection and strong bearish pressure applied around 1.5700-1.5730 led to this quick obvious breakdown of 1.5600-1.5580 that took place last week. The GBP/USD pair paused at support level 1.5380 (previous […]
This week, the cable consolidated after hiting a low of 1.5165 last week. This consolidation extended up to 1.5250 which seems to be a weak retracement movement. Now as we are getting in the U.S. session, the bears are pressing for new lows, they have hit 1.5133 so far. Consolidation below 1.5165 ( Friday’s low […]
The dollar rose further against the yen after U.S. data showed that factory orders rose slightly above forecast in May by 2.1 percent, versus the 2.0 percent consensus. Also April factory orders were revised up to 1.3 percent. The upbeat data lifted market sentient during the New York trading hours, as it gave optimism that […]
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 Thursday’s daily candlestick which enhances the bearish pressure further below 1.3000 […]
The euro came under pressure today as Portuguese bond yields surged higher on news that Portugal’s Finance Minister Vitor Gaspar resigned late on Monday. Since taking office two years ago, Gaspar implemented harsh austerity measures, which included tax rises, spending cuts and state job layoffs, all in an effort to bring the highly indebted peripheral […]
The euro is under pressure today after a series of headlines out of Europe dampened demand for the currency. Meanwhile expectations of Fed tapering stimulus kept dollar firm. The single currency began to come under pressure late on Monday after Portugal’s Finance Minister Vitor Gaspar resigned late Monday, as the country’s budget deficit widened in […]
Overview: It should be noted that the price of USD/CHF’s pair has still been trapped between 0.9520 – 0.9470, as well as the price has been set below strong resistance at the levels of 0.9570 (61.8% of Fibonacci retracement levels on H4 chart). Additionally, it is worth noting that these levels coincidу between 61.8% […]
NZD/USD: Resistance: 0.7910 (sell below this level). Support: 0.7682 (buy above this level for retesting this level for a short period). Trend: downward (the trend still calls for a bearish market). Range: 116 pips. A risk to reward ratio of 1:1.5 is recammended Risk of116pips must make a profit of 174,00 Trading recommendations: According to […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has been trading upwards, corrective wave .4 (coloured green) of the bigger wave 5 (coloured blue) has been developing. During the Monday’s Asian and European session we could observe strong ascending movement from 0.9153 towards the 0.9252 level and we can consider this move as […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading downwards, the final impulsive wave 5 (coloured blue) of the bigger wave [1] (coloured red) has been developing. Yesterday, we could observe ascending movement during the European session from 1.0496 towards the 1.0533 level. Therefore, during the New York session this commodity currency […]
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 […]
