EURUSD: The EURUSD pair is still in a bullish mode, as suggested by the indicators on the chart. The price line at 1.3400 is a forgone conclusion: the pair would soon be trading above it as it goes towards the resistance line at 1.3450. It is suggested that one should only seek to go long. […]
Yesterday the major event in the UK was information about Moody’s reduced Co-operative Bank’s debt and deposit ratings to Caa1 from Ba3, the bank is on the verge of bankruptcy. The agency has announced that while the bank will be salvaged, the bank’s investors may have losses. As the data on inflation was in […]
June 19th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Steady start for European share markets Wednesday morning despite respectable gains on Wall Street overnight. Volatility runs high as markets await the FOMC rate announcement and press conference over the central bank’s stance on monetary policy measures. Asian markets were mixed with shares in […]
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 […]
Yesterday data on ZEW Economic Sentiment both in the eurozone and in Germany was better than expected. The euro managed to grow and as the result it added 28 points. However, the growth was on small volumes and this movement may be considered a speculative one. Now the investors are intrigued whether there will […]
Today’s Support and Resistance levels: R3: 1.6913 R2: 1.6870 R1: 1.6825 Current spot: 1.6768 S1: 1.6742 S2: 1.6710 S3: 1.6669 Technical overview: We are currently in black wave v higher from the 1.6388 low. Since the low at 1.6388, we have seen an impulsive rally to 1.6825. It marks red wave i and we are […]
Daily chart: Crude Oil continues to rise above the support at the 96.73 level and gradually is approaching the resistance at 100.33 level. For today’s session, it is likely that Crude Oill will make consolidation movements, trying to form a lower high pattern, to continue climbing up to that resistance level. However, if Crude Oil […]
TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.3459. Strong Resistance: 1.3451. Original Resistance: 1.3438. Inner Sell Area: 1.3425. Target Inner Area: 1.3393. Inner Buy Area: 1.3361. Original Support: 1.3348. Strong Support: 1.3335. Breakout SELL Level: 1.3327. DESCRIPTION: Today EUR/USD has support and resistance at 1.3348 and 1.3438. The rate is accompanied by strong support at […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 95.99. Resistance 2: 95.80. Resistance 1: 95.61. Support 1: 95.38. Support 2: 95.19. Support 3: 95.00. DESCRIPTION: Please pay attention to the levels of support 3 (95.00) and resistance 3 (95.99). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but […]
Daily chart: USD/JPY bounced on the support level of 94.53 and this pair is now above the level of 95.00, approaching the level of resistance at 96.38. If USD/JPY manages to break that resistance, it would be expected to rise to the level of 98.25. Furthermore, there is the possibility that the pair will make […]
Today’s support and resistance levels: R3: 128.50 R2: 128.28 R1: 127.78 Current spot: 127.53 S1: 127.23 S2: 126.92 S3: 126.13 Technical overview: When strong short-term resistance at 126.91 was broken, we knew that we need a rally towards 128.28 before the next attempt to break below strong support at 124.96 will be seen. We have […]
Today this currency pair is in the uptrend. This is indicated by the moving average already making a Golden Cross pattern, but please remain careful because this night the US FOMC Statement is expected, please be prepared for the reversal movement during the news release. RECOMMENDATION: Buy stop (pending order) at 128.11. Take profit at […]
Yesterday at the American session the pound sterling had grown to the maximum of 1.5754. Now it backs hard on all fronts due to the reporting of PPI Input fell to -0.3% in May. If you look at the graph the British currency is bearish in the short term, but it is likely to see […]
In the European session the euro touched 1.34 area, however, it was unable to overcome it, due to the index issued by the Institute of German ZEW. Given that many are very optimistic for now, it is likely that during the next few hours it exceeds the maximum of 1.34 and look for the […]
The Australian dollar dropped again today and heads to 2010 lows against the dollar after the minutes of the Reserve Bank of Australia were released. It is said that there may be further cuts in interest rates in the coming months, which would deepen the low of the Aussie. Observing the graph we see […]
The USDCAD pair was declining for the second week except for some recovery observed on Friday and yesterday which was 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 located. […]
Daily closure at 1.5409 opened the way towards 1.5580, 1.5680, and 1.5750 (yesterday’s recent 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 1.5590 then 1.5750 yesterday. The pair consolidated above 1.5603 (the high of May). This leads […]
Eurodollar succeeded in stabilizing above resistance 1.3240, followed by 1.3300 breakthrough that took place last week, which keeps the upside movement favoured to target 1.3600 levels (target of 123 pattern). Prominent supply zone is located around 1.3425 and is expected to be the target price for the current bullish wave then the pair may have […]
Overview: Since our last analysis Gold has been trading in downward moves like we expected, price tested level 1,377.00. 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 […]
Overview: Since our last analysis the EUR/NZD pair has been trading upwards, price tested the level of 1.6821. I placed Fibonacci Retracement levels and I got FR 61,8% at price 1.6831. According to my trading rules if FR 61.8% at price 1.6831 holds, we can expect future down and finishing of major down correction (A,B,C,D […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading upwards, just like we expected, impulsive sub-wave 3 (coloured blue) of the bigger wave [1] (coloured red) has been developing. During the Monday’s Asian session we could observe descending movement from 1.0172 towards the 1.0148 level and we can consider this move […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has continued trading lower, 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 side-ways movement between 0.9563 and 0.9641 level. We can consider this move […]
On Monday, amid the flat market the price could not overcome accumulation of orders in the range 1.5676/97 and was sent beyond the channel boarder on the daily chart. The target 1.5762 was not reached and today until the Fed’s meeting starts there is possibility to do it amid data on inflation. Today at […]
Read the Daily Market Report from Dave Evans, Professional Trader Hopes High For G8 Morning Report: 08.30 London • Markets have a positive bias this morning as the G8 summit rumbles on. The euro in particular is performing well after Greek politics were reduced to simmer […]
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, […]
Yesterday data on Trade Balance in the eurozone in April was weak and it did not allow the euro to develop downward movement. Trade Balance was 16.1 billion euros vs. expectations for 21.3 billion euros. Today at 10:00 GMT+4 the ECB President Mario Draghi speaks. However, his speech will not touch upon monetary policy. […]
June 18th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist A mild pullback for European stock markets this morning following modest gains in the previous session with investors adopting caution ahead of the start of the Federal Reserve’s two-day policy meeting with an outcome due Wednesday. Traders are feeling a little less nervous about […]
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 […]
Today’s Support and Resistance levels: R3: 127.96 R2: 127.27 R1: 127.01 Current spot: 126.63 S1: 126.13 S2: 125.41 S3: 124.96 Technical overview: We are currently in a wave 2 correction, correction of the entire rally from the 94.10 low to the 133.81 high. We expect this correction to correct 38.2% of wave 1, which will […]
Daily chart: The GBPUSD pair remains above the 200-day moving average and slowly is approaching to the resistance at the 1.5795 level. It is very possible that in today’s session, GBPUSD touches resistance at 1.5795. If the cable breaks that resistance, it would be expected to rise to the level of 1.5883. On the other […]
