The downtrend extending from 1.3700 was broken when we had a daily closure above 1.3075 which opened the way towards 1.3106 and then 1.3250. The price level around 1.3250 provided resistance for the EUR/USD pair as it corresponds to the previous tops (including the May’s high). However, this week we had two successive bullish engulfing […]
The pair is probably expressing 123 bullish reversal pattern that became confirmed with daily closure above 1.5625 that took place yesterday. The cable is still challenging the significant uptrend peak at 1.5682 recorded last week while the next important resistance is projected at 1.5750 corresponding to 61.8% Fibonacci. Intraday support is projected at 1.5380 (SMA […]
Overview: Since our last analysis the EUR/NZD pair rejected from level 1.6563 like we expected and tested level 1.6910, we got our intraday target at price 1.6730. After testing of level 1.6910 we saw drop to level 1.6634 so we placed our Fibonacci expansion levels to watch (marked swings A,B,C,D). We got FE 61.8% at […]
Overview: USD/CAD: The market is continuing to show signs of strength following the break at 1.0110 (green horizontal line in the chart). Additionally, USD/CAD’s resistance was broken and turned to support last month. Furthermore, the pair has already formed a strong support at the level of 1.0110. Consequently, the market indicates a bullish opportunity […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading downwards, ending diagonal in the final wave [5] (coloured red) of the bigger wave C (coloured green) has been developing. During the Wednesday’s Asian and European sessions we could observe descending movement from 1.0215 towards the 1.0153 level, and we can consider […]
Overview: Since our last analysis Gold has been trading sideways around price 1,385.00, we are still waiting for our second intraday target level at 1,356.50. We are also 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 move up which […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading downwards, just like we expected, impulsive wave 1 (coloured blue) of the bigger wave [3] (coloured red) has been developing.Yesterday, during the European session we could observe ascending movement from 0.9416 towards the 0.9562 level, and we can consider this move as the end […]
EURUSD: This pairs has been trending in a predictable manner so far. Traders would therefore do well to continue looking towards the north, for there is still much optimism surrounding the euro. This is a bull market, and the price could reach the resistance line at 1.3400 very soon. USDCHF: Since the model, that is […]
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:Is there a possibility of no Fed rate cuts this year? –… April 10, 2024 A summer rate cut by the Fed hangs in the…Forex forecast 04/10/2024: EUR/USD, NZD/USD, USD/CAD and […]
Overview: NZD/USD movement will be continued straight from 0.7858 (on H1 chart 00% of Fibonacci retracement levels). Therefore the Kiwi is showing signs of strength, following the break of the highest level of 0.7860. So it will be a good sign to buy above the level of 00% of Fibonacci retracement levels on H1 […]
Yesterday data on UK Unemployment rate was raising hopes. The number of unemployed dropped 8.6K vs. forecast for -6.8K. April’s figures were revised upwardly from -7.3K to -11.8K. The unemployment range stayed flat at the level of 7.8%. The pound grew 36 points and reached the boarder of daily channel. Technically, the situation has […]
Technical outlook and chart setups: Silver has been trading sideways off late and has possible retraced to around 0.618 level at 21.20/40, of the recent rally from 20.00 to 23.00 level. It is highly recommended to hold on long positions and initiate further on dips as well. The depicted structure is indicative of a bottom […]
Technical outlook and chart setups: In seems the metal has formed base at 1,365.00 level and it is bouncing back higher. The entire sideways cone structure has been depicted here, indicating that a bullish breakout is under way and it should get through around June 17th or so, towards 1,425/30 and higher up. Immediate resistance […]
Technical outlook and chart setups: The single currency pair finally takes out support at 1.44, stopping our longs out. The long-term bearish structure is now represented here and back in focus. As depicted, the down trend line is being followed and the latest bounce has been from 1.48 level. Major resistance is at 1.5 level, […]
Technical outlook and chart setups: The single currency pair has reversed, taking out our stop at 126.00 level. It is recommended to initiate short positions with a target of 123.00 level. Immediate resistance is 129.00, followed by 131.50, 132.00 and higher up. The structure indicates a major retracement on the downside is possible now. Currently […]
Yesterday we saw the continuation of the week’s speculation. Amid strong data on Industrial Production in the eurozone in April which grew 0.4% vs. forecast for -0.2%, the euro was falling under the pressure of more relevant factors. They were as follows: the strike of the air traffic controllers, floods in Germany (it was […]
Read the Daily Market Report from Dave Evans, Professional Trader Strong Yen rebounds on growth fears. Morning Report: 08.30 London • This morning, the Japanese Yen is riding high as world markets sell off. Financial markets have been rocked overnight after the World Bank cut its 2013 global economic forecasts to 2.2% […]
Today’s Support and Resistance levels: R3: 128.16 R2: 127.58 R1: 127.09 Current spot: 126.55 S1: 126.50 S2: 125.77 S3: 125.20 Technical overview: With the rally to 129.34, the correction from 127.10 became slightly higher than we expected, but it did not change the larger picture in any way. Currently we are testing strong support at […]
Daily chart: The USDJPY pair continued its bearish trend developing in the long term, falling over 350 pips this week. Now, the USDJPY pair is forming a higher low pattern below the resistance level of 96.38. If USDJPY breaks the 94.53 level, it is expected to fall to the level of support 92.84. On the […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 95.36. Resistance 2: 95.18. Resistance 1: 94.99. Support 1: 94.76. Support 2: 94.59. Support 3: 94.38. DESCRIPTION: Please pay attention to the levels of support 3 (94.38) and resistance 3 (95.36). 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: 1.3411. Strong Resistance: 1.3403. Original Resistance: 1.3390. Inner Sell Area: 1.3377. Target Inner Area: 1.3345. Inner Buy Area: 1.3313. Original Support: 1.3300. Strong Support: 1.3287. Breakout SELL Level: 1.3279. DESCRIPTION: Today EUR/USD has support and resistance at 1.3300 and 1.3390. The rate is accompanied by strong support at 1.3287 […]
Daily chart: The USDX is consolidating below the 200 day moving average, so our overall outlook for this pair, would be totally bearish. But, we must be alert to the release of economic data in the U.S for today’s session. The USDX broke the support at the 81.50 level and is now trying to drop […]
Today’s support and resistance levels: R3: 1.7109 R2: 1.6980 R1: 169.34 Current Spot: 1.6888 S1: 1.6798 S2: 1.6739 S3: 1.6662 Technical overview: Our expectation of a top at 171.09 was clearly confirmed yesterday, as we broke below support at 1.6692 without any problems. We are looking for black wave iv declining to 1.6399 before the […]
RECOMMENDATION: Sell stop (pending order) at 128.24. Take profit at 128.10. Stop loss at 128.34. 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 […]
The Australian dollar broke through 0.95. The pair managed to close the gap left on Monday during the Asian session at 0.9503, but not yet has covered the gap in 2010, found in the levels of 0.9270. The Aussie experienced an upward momentum due to improved consumer confidence in Australia, however, we believe this pair […]
Support level around 1.0016-0.9995 provided evident bullish steam for the pair to step above 1.0300. Hence, there might be further bullish pressure to test 1.0430 level. The scenario of accidental confusion continued last week untill Thursday when we had this massive bearish daily candlestick that closed at 1.0260. Today, the USD/CAD pair is still affected […]
The euro is trading around 1.33 levels, currently at 1.3323, which indicates it is in the overbought area. This pair is preparing for a fall in the coming weeks. However, be careful with the size of the batch you operate when the euro goes down as the pair will soar. Thus, it is better to […]
Overview As it was expected yesterday, the price closed 4H below the support level of 151.00 that gave a new opportunity for more bearish signals today. As shown, the price has already broken 151.00 and now is testing the support level of 150.00. Closing below this level again may give us more sell signals till […]
On Wednesday, the GBP/USD pair closed at 1.5409. As expected, this opened the way towards 1.5580 and then 1.5680. On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured on Thursday targetting 1.5590. The pair fixed above 1.5603 (the high of May). This leads to […]
Overview As it was expected yesterday, the metal failed to break the Support level 21.50 and bounced again from it trading between the Support level 21.50 and the Resistance level 22.00. Currently, the metal is approaching to the Resistance level 22.00 again, therefore we should wait for its closing above to continue the upward trend […]
