Overview: NZD/USD is consolidating in lower range after hitting 10-month low of 0.7812 on Monday. The rate is supported by Kiwi demand on buoyant NZD/JPY as negative yen sentiment supports the cross. But NZD/USD gains are tempered by positive USD sentiment; fears over China economic slowdown; weaker commodity prices. Daily chart is still negative-biased as […]
Overview: USD/JPY is trading in lower range. USD/JPY is underpinned by negative yen sentiment as confidence rises over Prime Minister Abe’s ultra-loose monetary policy to boost the economy–after Japan’s 1Q GDP growth was revised upward to 4.1% from +3.5% preliminary reading. USD/JPY is also supported by positive dollar sentiment after stronger-than-expected U.S. May non-farm payrolls; […]
We are glad to announce that the XEMarkets Looking for the Best Japanese Trader demo competition exclusively organized for Japanese clients successfully ended on June 10th. An impressive number of traders and investors participated in the demo competition entitled Looking for the Top Japanese Trader running between 10th May and 10th June 2013 and available […]
Technical outlook and chart setups: The structure remains unchanged for now. Prices are out of consolidation range of 22.00 and 23.00 for now. 22.00 level shall provide short-term resistance for the metal. On the lower side, supports are spread through 21.20/40 levels (the Fibonacci 0.618 level of the rally between 20.00 to 23.00 recently). A […]
Technical outlook and chart setups: The metal has been testing out patience levels recently. As depicted here, we are focusing on the recent swings from 1,324 to 1,488 and 1,340 to 1,420. This structure depicts a cone consolidation and with in the structure, Gold is at a possible Fibonacci convergence at 1,368/70 levels, as depicted. […]
We are glad to announce that the XM Looking for the Best Japanese Trader demo competition exclusively organized for Japanese clients successfully ended on June 10th. An impressive number of traders and investors participated in the demo competition entitled Looking for the Top Japanese Trader running between 10th May and 10th June 2013 and available […]
Technical outlook and chart setups: The single currency pair rose through 131.20/30 levels yesterday and pulled back to 128.00 level now. This region is re-enforced by the 0.618 Fibonacci retracement of the rally between 126 and 131.20/30. If short positions were taken yesterday, it is recommended to cover and book profits; also initiate 50% long […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading upwards, just like we expected, corrective wave 2 (coloured blue) of the bigger wave [3] (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 0.9393 towards the 0.9460 level. Therefore, during the New […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading downwards, impulsive wave [v] (coloured red) of the bigger wave C (coloured green) has finished developing. During the Monday’s Asian and European sessions we could observe sideways movement between 1.0214 and 1.0179 area, and we can consider this move as the end […]
Weekly technical levels: Trading recommendations: According to the previous events, the price is still between the levels of 0.7858 and 0.7790. The descending movement will probably be lower than the 0.9750 level with the first targets at 0.7800 and 0.7710. Buy deals are recommended above 0.7703 with targets at 0.7795 and 0.7890. Notes: […]
June 11th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Hesitant financial markets this morning after the Bank of Japan refrained from boosting stimulus measures, leading the Nikkei to slip 1.4%. The rest of Asia traded lower overnight but shares on Wall Street Monday were supported by S&P raising the US to stable from […]
Technical outlook and chart setups: The single currency pair has been swinging between 1.44 and 1.45/1.46 lately. Today is yet another leg down towards 1.44. It is recommended to hold long as long as prices stay above 1.44 here, which is immediate support. A break of 1.4350 level should be sold as it would technically […]
Weekly technical levels: Tip(s): 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 S1 lines. Within a strong trend, the […]
Overview: Since our last analysis the EUR/NZD pair has been trading in upward moves like we expected, we got our first intraday target level at price 1.6865. Next up station, according to daily time frame, is FE 361.8% at price 1.7150. The price made new high on ultra high volume which is a sign that […]
Overview: Since our last analysis Gold has been trading in downward moves like we expected, we are heading to our second intraday target level at 1,356.50. We are still waiting for our first short-term target level FE 61.8% at price 1,323.00, according to the daily chart. I saw decreasing volume in the previous up move […]
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:Video market update for April 08, 2024 April 8, 2024 Potential for the breakout on the USD/JPY…. The material has…Market Comment – Stocks climb after sizzling US jobs report April 8, […]
Yesterday amid lack of relevant news the price has closed a 50-point gap on opening. Today at 12:30 GMT+4 UK Industrial Production in April is published, Manufacturing Production is expected to drop 0.2% vs. growth for 1.1% in March, Industrial Production is expected to be flat vs. 0.7% in March. At 18:00 GMT+4 NIESR […]
Yesterday macroeconomic data on the eurozone was neutral, Industrial Production in France grew 2.2% vs. estimates for 0.2%, Industrial production in Italy decreased by 0.3% vs. forecast for a 0.1% growth and figures from March were revised up to -0.9%. Federal Reserve Bank of St. Louis James Bullard’s speech was neutral as well. Positive […]
FOREX Daily Outlook by Easy-Forex.com Gold on bearish outlook The euro (EUR) continues to slide against the US dollar (USD) as the pair trades at just above 1.3080. The single currency has found strong resistance at 1.3140 after it had risen from a 6 month low. The pair is heavily influenced by fundamentals such as […]
Read the Daily Market Report from Dave Evans, Professional Trader Yen Powers Back Morning Report: 08.30 London • This morning, markets are reversing yesterday’s trends with the yen powering back and the Australian dollar sinking to new lows. • The yen is generally stronger after the Bank […]
Today’s Support and Resistance levels: R3: 1.6961 R2: 1.6921 R1: 1.6864 Current Spot: 1.6821 S1: 1.6790 S2: 1.6756 S3: 1.6692 Technical overview: Wave iii is still progressing nicely, but we are slowly but surely closing in on the top of black wave iii, which we expect will be found close to 1.7040. However, for now […]
Today’s Support and Resistance levels: R3: 131.31 R2: 131.00 R1: 130.68 Current Spot: 130.45 S1: 129.91 S2: 129.20 S3: 128.48 Technical overview: The x-wave ended a little higher (131.31) than the ideal 130.88, where it would have corrected 61.8% of the decline from 133.81 down to 126.11. Now we are looking for the second zig-zag […]
Daily chart: The USDX is among very critical levels for the development of its current trend. Right now, the USDX is finding strong support on the level of 81.50, which is the 200-day moving average. The hypothesis that remains on the USDX is that this may be forming a higher low pattern to continue to […]
Daily chart: The USDJPY pair broke the resistance at the 98.25 level, but we can see that it is trying to be returned. The bearish trend in this pair is still alive, while USDJPY fails to break through resistance at the 99.81 level. If the pair manages to break that level, it is expected to […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 99.31. Resistance 2: 98.12. Resistance 1: 98.93. Support 1: 98.69. Support 2: 98.49. Support 3: 98.30. DESCRIPTION: Please pay attention to the levels of support 3 (98.30) and resistance 3 (99.31). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but […]
TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.3316. Strong Resistance: 1.3308. Original Resistance: 1.3295. Inner Sell Area: 1.3282. Target Inner Area: 1.3251. Inner Buy Area: 1.3220. Original Support: 1.3207. Strong Support: 1.3194. Breakout SELL Level: 1.3186. DESCRIPTION: Today EUR/USD has support and resistance at 1.3207 and 1.3295. The rate is accompanied by strong support at […]
Weekly technical levels: Trading recommendations: According to previous events, the price has still been trapped between 1.5580 and 1.5477. Buy above 1.5310 with the first target of 1.5475, it might resume to 1.5588. Stop loss should be set below 1.52. Below 1.5680 (100% of Fibonacci retracement levels) look for further downside with targets at […]
EUR/USD: There is still a Bullish Confirmation pattern in this chart, as the Williams’ Percent Range moves very near to the overbought territory. The resistance line at 1.3300 was tested last week, and it could be tested again very soon – even possibly breached to the upside as the price goes further northwards. USD/CHF: The […]
Weekly technical levels: Intraday trading recommendations: According to previous events, the price has still been trapped between 1.3303 and 1.3180. The level of 1.3015 will indicate a strong support, moreover the price will be formed at a double bottom in 1.3014. Therefore, it will be wise to buy at 1.3014 with the first target at […]
RECOMMENDATION: Sell stop (pending order) at 130.74. Take profit at 130.60. Stop loss at 130.84. Best regards, Arief Makmur Official Analyst of InstaForex Group InstaForex Group http://instaforex.com Email: [email protected] Yahoo Messenger & Skype : Arief.ifx_jakarta blog.mt5.com/arief http://www.mt5.com/forex_analysis_award/profile/index/arief Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be […]
