TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.3200. Strong Resistance: 1.3192. Original Resistance: 1.3179. Inner Sell Area: 1.3166. Target Inner Area: 1.3135. Inner Buy Area: 1.3104. Original Support: 1.3091. Strong Support: 1.3078. Breakout SELL Level: 1.3070. DESCRIPTION: Today EUR/USD has support and resistance at 1.3091 and 1.3179. The rate is accompanied by strong support at 1.3078 […]
Daily chart: The USDX is trying to break the resistance at the 82.51 level. For now, it is very possible that the USDX forms a lower high pattern. The USDX remains above the 200-day moving average and if the USDX can break this resistance, it would be expected to rise to the level of 83.22. […]
June 25th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European share markets are rebounding this Tuesday morning, shrugging off declines in overseas markets. The risk-tone has improved somewhat after Dallas Federal Reserve head Fisher attempted to downplay the markets’ reaction to central bank tapering saying was overdone. There was some respite for US […]
Today’s support and resistance levels: R3: 129.69 R2: 129.22 R1: 128.68 Current Spot: 128.15 S1: 127.85 S2: 127.28 S3: 126.76 Technical overview: With the break below support at 128.14, we have had confirmation that a top is in place and a new decline towards important support at 124.96 is ongoing. Only a break below support […]
For today, EUR/JPY is already moving in a ranging situation between 128.00 to 128.75. RECOMMENDATION: Buy stop (pending order) at 128.76. Take profit at 128.90. Stop loss at 128.66. Alternative: Sell stop (pending order) at 127.99. Take profit at 127.85. Stop loss at 128.09. Best regards, Arief Makmur Official Analyst of InstaForex Group InstaForex Group […]
Overview: GBP/JPY is in range-trade. The rate is undermined by weaker euro sentiment; Japan exporter sales. But GBP/JPY downside is limited by buoyant USD/JPY undertone; demand from Japan importers. Daily chart is mixed as MACD bearish; but stochastics is in bullish mode. Trading recommendations: The pair is trading below its pivot point. The pair […]
The AUD/UDS has reached the minimum of 2010. This pair is starting to worry investors. A few months ago when all other pairs were falling against the dollar it was strengthening. However, the story has changed, the fact that it has reached monthly support levels shows that the recovery of the pair is on the […]
Overview: NZD/USD is consolidating with bearish bias after hitting one-year low of 0.7698 Friday. The rate is undermined by positive dollar sentiment; weak commodity prices; fears over China economic slowdown. Data focus: 03:00 GMT New Zealand May credit card statistics. Daily chart is negative-biased as MACD and stochastics are bearish; five-day moving average is below […]
The USD/JPY pair is negotiating further up the weekly pivot point of 96.76. Looking at the monthly chart we have seen that last week this pair bounced of the fall to the monthly support is around 93.70 and then closed up 350 points more. If you remember Bank of Japan still maintains its monetary policy […]
Overview As shown from the today’s H4 chart, the metal is stabilizing above the Support level 19.75 after its failure to break the Support level again last week. Currently we must wait for re-testing the Support level again and closing below to get the bearish move opportunity. In that case we will get a […]
Overview: USD/JPY is trading with bearish bias. The rate is underpinned by positive dollar sentiment after Chairman Bernanke signaled Wednesday quantitative easing by the U.S. Federal Reserve could be slowed this year and end altogether by middle of 2014, and his upbeat assessment of the U.S. economy; widening USD-JPY interest differential–U.S. Treasury 10-year yield […]
The GBP/USD pair is showing a little strong, because many expected a fall to 1.50 levels quickly. However, we note that it is trading at levels of 1.54. This week will set the trends toward the pair. 1.5512 level, weekly pivot level, will be key. So at this level we recommend selling with objectives to […]
This morning the EUR/USD pair has reached low levels of 1.3055. At the moment it is trading around the 200-day moving average at 1.3071. This is a possible bounce area, which can lead to resistance area of 1.3211 weekly pivot point level in this area. It is recommended to sell with objectives to weekly W_S1 […]
Overview As shown on the today’s H4 chart, this week the pair has opened below the Resistance level 151.15 which means the pair will almost reverse its bullish move this week, it takes a downward move. Today the pair has already started its downward move after it had hit the Resistance level 151.15 and […]
Overview: USD/CHF is trading in higher range. The rate is underpinned by positive dollar sentiment; widening USD-CHF interest differential. Daily chart is positive-biased as bullish outside-day-range pattern was completed on Friday; stochastics is rising from oversold; MACD is staging bullish crossover against its exponential moving average. Trading recommendations: The pair is trading above its […]
Overview: GBP/USD: The resistance has already set at the level of 1.5494 as well as the support has also been set at 1.5309. Therefore, according to the previous events, the price has still been trapped between 1.5450 and 1.5420, then it should be noted that the range today will be around 95 pips. […]
Weekly technical levels: Intraday trading recommendations: According to previous events, the price has still been trapped between 1.3125 and 1.3080. The level of 1.3000 will indicate a strong support, moreover the price will be formed at a double bottom in this level. Therefore, it will be wise to buy at 1.3000 with the […]
The USDCAD pair was declining for two successive weeks until strong recovery observed on June 14. Daily closure above 1.0260 that took place on Wednesday allowed another bullish impulse to take place. The USD/CAD pair rose steeply last week approaching key-resistance level of the ascending channel as depicted on the chart. Resistance level located at […]
On the daily chart we find that daily closure at 1.5409 (June 5) opened the way towards 1.5580, 1.5680, and 1.5750 (last week’s high). 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 […]
The EUR/USD pair reaches a demand zone extending between 1.3100-1.3050 after an obvious negative weekly candlestick that closed last Friday. This bearish pressure was applied after testing of the previously mentioned weekly downtrend line (depicted in Red) that extended from previous top at 1.4940. The previously mentioned bullish 123 pattern (confirmed on June 6) is […]
Overview: Since our last analysis Gold has been trading in sideways move, we are waiting for our second short-term target level to be tested. We are now heading to test FE 100% at price 1,221.00 (second short-term target), according to the daily chart. I saw decreasing volume in the previous move up which is a […]
Last Friday, the GBP/USD pair expressed bearish engulfing weekly closure after testing the backside of the broken bullish channel depicted on the Daily chart above. The backside of the broken channel corresponded to supply zone located at 1.5680-1.5800 which managed to pause the ongoing bullish wave and bring a quick decline towards support zone around […]
Overview: Since our last analysis the EUR/NZD pair has been trading sideways move around price 1.6976, we are still waiting larger move. I placed Fibonacci expansion level for future up and I got FE 61.8% at price 1.7500. Since we broke level 1.7106 (previous swing high), we may expect future up. Current situation on (4H) […]
On Friday data on Public Sector Net Borrowing in May was 10.5 billion pounds vs. forecast for 12.7 billion pounds and revised downwardly 6.6 billion pounds in April. Public Sector Net Borrowing ex Intervention grew up to 8.8 billion pounds from 6.3 billion pounds. Mass media criticized UK Chancellor of the Exchequer George Osborne for […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading side ways, corrective wave 4 (coloured green) of the bigger wave 3 (coloured blue) has been developing. During the Friday’s Asian and European sessions we could observe descending movement from 0.95258 towards the 0.9181 level.Therefore, during the New York session this currency […]
USD/CAD Elliott Wave Last week the USD/CAD pair has been trading upwards, impulsive wave 3 (coloured blue) of the bigger wave [1] (colured red) has been developing. During the Friday’s Asian and European sessions we could observe ascending movement from 1.0362 towards the 1.0487 level. Therefore, during the New York session this major currency did not […]
June 24th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist A soft start for European financial markets this morning, as traders still ruminate over the implications of Fed tapering QE by year-end together with concerns over a possible liquidity squeeze in China. Share markets in Asian markets overnight fell sharply on worries about stress […]
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:Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar…Forex forecast 04/08/2024: EUR/USD, GBP/USD, USD/JPY, Gold… April 8, […]
Structural problems in Europe has started working. The French statistics agency INSEE revealed the forecast for a 0.1% drop in GDP and the rise of unemployment rate from 10.8% to 11.1%. In Greece, the government was shaken as the Democratic Left, the smaller of Samaras’s two coalition partners, withdrew its ministers. Now there are two […]
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 […]
