The GBP/USD pair expressed quick decline towards 1.5450 after US dollar gained much strength affected by Federal Statement yesterday. Technically, the pair reacted bearishly towards mentioned supply zone extending between 1.5680 and 1.5750 (61.8% Fibonacci) that leads to this decline towards 1.5420 (SMA 100). Due to this steep decline, we expect some recovery to take […]
Overview: Since our last analysis Gold has been trading in downward moves like we expected, tested level 1,284.00 and reached our intraday target level at price 1,356.00 and our first short-term target at level 1.323.00. We are now heading to test FE 100% at price 1,221.00 (second short-term target), according to the daily chart. I […]
Overview: Since our last analysis the EUR/NZD pair has been trading upwards, price broke the level of 1.6915 (previous swing C level) and tested 1.7050. I placed Fibonacci expansion level for future up and I got FE 61.8% at price 1.7500. For future up view we need to break level 1.7106 (previous swing high).There is […]
Overview: GBP/USD: The resistance has already set at the level of 1.5555 as well as the support has also been set at 1.5400. Therefore, according to the previous events, the price has still been trapped between 1.5490 and 1.5420, then it should be noted that the range today will be around 80 pips. […]
Overview: AUD/USD: According to the previous events, the price has still been trapped between 0.9150 and 0.9190. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bearish signs. In other words, it will be a good sign to […]
Published yesterday Bank of England Meeting Minutes revealed stable outlook of the bond buying programme; three members voted for increasing of programme, while six were against. Now the pound may decline amid the expectations of new stage in easing, yesterday’s drop of pound tells about it, it fell 160 points against 97 points on […]
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:Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500… April 16, 2024 We introduce you to the daily updated section of Forex…What’s next for markets amid Israel-Iran tensions? – Special… April 16, […]
During the Fed’s meeting it was decided not to change current monetary policy. However, according to Ben Bernanke’s commentaries it will take place either at the July or September’s meeting. Fed’s Economic Projections surpassed investors’ expectations, that was accepted as a sign that it will be done “sooner, not later”. It is forecast GDP […]
June 20th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist The Federal Reserve’s chief Ben Bernanke laying out a path to gradually reduce the pace of stimulus by the end of 2013 and end the programme by mid-2014 has sent shockwaves across global risk assets. Equity markets in the US sold off rapidly Wednesday […]
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 […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has continued trading downwards, just like we expected, impulsive wave 3 (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 0.9437 towards the 0.9555 level and we can consider […]
Today’s Support and Resistance levels: R3: 1.7023 R2: 1.6982 R1: 1.6937 Current Spot: 1.6876 S1: 1.6825 S2: 1.6789 S3: 1.6740 Technical overview: We saw red wave ii of black wave v end at 1.6615 yesterday and as it would be expected of red wave iii, it was very explosive. However, we expect that it was […]
Today’s Support and Resistance levels: R3: 129.95 R2: 129.34 R1: 128.78 Current Spot: 128.59 S1: 128.09 S2: 127.81 S3: 127.44 Technical overview: After the break above important short-term resistance at 126.91 we expected a rally higher towards 128.28. We have seen a rally beyond that point, but it is no crucial any way. A break […]
Daily chart: The USDX had a very bullish session yesterday, making a rebound on the support at the 80.62 level and up to resistance at 81.50, which houses the 200-day moving average. We discussed in the previous articles this rebound but it is still possible that this movement is the continuation of a formation of […]
Daily chart: The GBPUSD pair fell over 100 pips below the 200-day moving average and support at the 1.5506 level. Now, the next target for GBPUSD will be the support level at 1.5407. However, we must bear in mind that this drop in GBPUSD was driven by fundamental news that positively affected USD, so the […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 97.03. Resistance 2: 96.84. Resistance 1: 96.65. Support 1: 96.42. Support 2: 96.23. Support 3: 96.04. DESCRIPTION: Please pay attention to the levels of support 3 (96.04) and resistance 3 (97.03). 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: 1.3346. Strong Resistance: 1.3338. Original Resistance: 1.3325. Inner Sell Area: 1.3312. Target Inner Area: 1.3281. Inner Buy Area: 1.3250. Original Support: 1.3237. Strong Support: 1.3224. Breakout SELL Level: 1.3216. DESCRIPTION: Today EUR/USD has support and resistance at 1.3237 and 1.3325. The rate is accompanied by strong support at 1.3224 […]
EUR/USD: This pair plummeted seriously yesterday and closed below the support line at 1.3300. All the bullish gains for this week have been forfeited, plus the gains for the last week would also be forfeited. There is a new buy signal in the chart, for the recent major bias has already been successfully violated. USD/CHF: […]
For today, EUR/JPY seems to have a little sign of weakness even though the situation is still in the uptrend, which is indicated by all the three Moving Averages still forming the Golden Cross pattern, but unfortunately this currency pair has already retraced and touched the Exponential Moving Average (100). We know this will be […]
Overview From the today’s H4 chart, yesterday the metal failed to break the Support level 21.50 to bounce again from it and trade between the Support level 21.50 and the Resistance level 22.00. Currently the metal is approaching the Resistance level 22.00 again, therefore we should wait for closing above to continue its upward […]
Overview From the today’s H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the Resistance level 148.75 after it was tested yesterday. Today the pair has tried more than once to break it through and currently the price is trading below the […]
This morning the British pound looked very bizarre in the American session, it moved without a clear direction. But also without the upward force shown in the previous days. The decline of British currency to 1.5640 could mean the beginning of medium-term downtrend. However, if you look at the chart, this pair is above the […]
The USDCAD pair was declining for the second week except for some recovery observed on the last three trading days which is not that strong by the way. Further bearishness is expected this week. This will leave the pair targeting further downside towards the 1.0100 level, where the lower limit of the bullish channel is […]
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 (this week’s high). On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured during last two weeks targeting 1.5750. The pair consolidated above 1.5603 […]
The Australian dollar has been pushed down below the weekly pivot line, which is located at 0.9519. We see that it is still very difficult to sell the Aussie at this level again in the medium term. We hold our bearish outlook to the 0.9270 area, but in the coming days the pair may move […]
Overview: USD/JPY is consolidating in higher range before 18:00 GMT U.S. Federal Open Market Committee interest rate decision, which is followed by Chairman Bernanke’s press briefing. Market participants are watching for indication about when the Federal Reserve will taper down its monthly purchases of $45 billion of Treasurys and $40 billion of mortgage securities, […]
Overview: NZD/USD is consolidating after hitting three-day low of 0.7946 Tuesday as markets await U.S. FOMC interest rate decision. NZD/USD is undermined by contagion from weak Aussie; fears over China’s economic slowdown. But NZD/USD downside is limited by positive investor risk appetite. Daily chart is mixed as MACD is bullish, but stochastics is in bearish […]
Overview: USD/CHF is consolidating after hitting three-day low of 0.9172 Tuesday as markets await U.S. FOMC interest rate decision. Swiss franc sentiment boosted after Switzerland’s lower house of Parliament voted 126-67 against a plan which would allow the country’s banks to skirt Switzerland’s banking secrecy law and hand information to the U.S. Department of Justice […]
Overview: GBP/JPY is trading in higher range as markets await U.S. FOMC interest rate decision. GBP/JPY is underpinned by positive investor risk appetite; strong euro sentiment; demand from Japan importers. But EUR/JPY gains are tempered by Japan exporter sales. Daily chart is mixed as MACD is bearish, but stochastics have turned bullish near oversold. Trading […]
The EUR/USD pair is very slow in movements from the European session and it may extend until noon ET. In this context it moves within the 1.34. It did not exceed the maximum on Tuesday and today it was 1.3415 so far. Overcoming this level, it extends its gains to 1.3431 area, the break of […]
