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 […]
Technical outlook and chart setups: The structure is simply sideways, since the recent swing lows were printed around 1,324.00 level. The metal has been swinging between the line of resistance and support as depicted here. Resistance right now is just around 1,410.00 (the trend line resistance), followed by 1,425.00, 1,450/60, 1,488.00 and higher up. Trend […]
Technical outlook and chart setups: The single currency pair is offering yet another opportunity to initiate short positions. The pair hit the first measured extension at 125.00 level yesterday and retraced back to 128.00 level. The next extension could be towards 123.00 level or even lower. Immediate chart resistance is 129.50, followed by 131.00, 132.00, […]
Technical outlook and chart setups: The single currency pair has rallied, after breaking support at 1.44 level recently. These intraday rallies could be sold further. Immediate resistance is at 1.47/1.48 levels, followed by 1.5 and 1.51; while support is at 1.4075 and lower. Since the pair has bounced off the down trend line, there is […]
Strong data on Retail sales did not manage to strengthen the dollar. It is said the major reason is drop of the Japanese market and the yen due to fears of Japanese debt collapses. Quantitative easing have not had impact on the Japanese economy. US Retail sales in May grew 0.6% vs. forecast for […]
EURUSD: Since a bullish signal was developed at the end of May 2013, the EURUSD pair has moved upwards by over 430 pips. Right now, the price is moving closer to the resistance line at 1.3400. This is not a far-fetched objective, but there may be a short-term reversal before the price ultimately reaches that […]
Today’s Support and Resistance levels: R3: 1.6719 R2: 1.6658 R1: 1.6608 Current spot: 1.6551 S1: 1.6479 S2: 1.6456 S3: 1.6399 Technical overview: We are still looking for black wave iv down to the ideal target at 163.99. Since the top of black wave iii at 1.7109 we have seen a three wave decline to 1.6537, […]
Daily chart: Crude Oil rose back up to resistance at the 96.73 level. Now CL is slightly below that level if CL manages to break that level, it would be expected that the resistance rises to the level of 100.33. This resistance in the 96.73 level is very strong and very important, as we have […]
Daily chart: The GBPUSD pair continues rising and consolidating above the 200-day moving average. Now, the GBPUSD pair is trying to climb to the resistance at the 1.5795 level. For now, the overall outlook for this pair, is totally bullish. We see that GBPUSD may close the price today below support at the 1.5642 level, […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 95.13. Resistance 2: 94.95. Resistance 1: 94.76. Support 1: 94.53. Support 2: 94.34. Support 3: 94.15. DESCRIPTION: Please pay attention to the levels of support 3 (94.15) and resistance 3 (95.13). 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: 1.3425. Strong Resistance: 1.3417. Original Resistance: 1.3404. Inner Sell Area: 1.3391. Target Inner Area: 1.3359. Inner Buy Area: 1.3327. Original Support: 1.3314. Strong Support: 1.3301. Breakout SELL Level: 1.3293. DESCRIPTION: Today EUR/USD has support and resistance at 1.3314 and 1.3404. The rate is accompanied by strong support at […]
RECOMMENDATION: SELL Stop (Pending Order) is at 126.24. Take Profit is at 126.10. Stop Loss is at 126.34. Best regards, Arief Makmur Official Analyst of InstaForex Companies Group InstaForex Companies Group http://instaforex.com Email: [email protected] Yahoo Messenger and Skype: Arief.ifx_jakarta blog.mt5.com/arief http://www.mt5.com/forex_analysis_award/profile/index/arief Disclaimer: Trading foreign exchange on margin carries a high level of risk, […]
Today’s support and resistance levels: R3: 128.81 R2: 128.17 R1: 127.42 Current Spot: 126.67 S1: 126.22 S2: 125.50 S3: 124.96 Technical overview: We are looking for a decline in wave 2 towards the ideal target at 118.73. Since the top of wave 1 at 133.81 we have seen a zigzag correction as wave-w interrupted by […]
Overview: The EUR/JPY pair suggests that a decline from 130.00 had resumed to 128.10 (126.30 is a key level, hence it is going to form a strong support). The pair has already formed a strong support at the level of 126.30 and is now approaching it in order to test it. Moreover, it should […]
Trading recommendations: According to the previous events, the price has still been trapped between 1.5580 and 1.5477. Long buying: Buy above 1.5480 with the first target at 1.5550, it might resume to 1.5690. Stop loss should be set below 1.5420. Short sell: Below 1.5760, look for further downside move with targets at 1.5613 and 1.5500. […]
Overview According to our yesterday’s expectations, the pair took a downward trend after it has managed to break the Support level 150.00 and currently is testing the Support level 147.50 trying to break it through to continue its bearish move. If the pair cannot break this support level and closes 4H above, it may reverse […]
Overview As shown from the today’s H4 chart, the metal failed again to break the Support level 21.50 and is still trading between the Support level and below the Resistance level 22.00. Currently it is bouncing from the Support level and starting for the bullish move. So we still suggest waiting for closing above […]
This morning in the early American session the EUR/USD pair fell after making a maximum in the 1.3390 area. It stopped just at the daily fractal area of 1.3388. Given that this morning it is trading below 1.33, we hope you find support in the nearest fractal, 1.3227. At this level we recommend buying the […]
Last week, 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 last Thursday targeting 1.5590. The pair fixed above 1.5603 (the high of May). This leads to […]
June 13th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist A rout across global stock markets on heightened fears that global central banks will halt/moderate liquidity measures forces investors to dump risky assets. US stocks fell overnight on these worries and Japan’s Nikkei 225 index slumped 6.4% into bear-market territory, pushing the yen higher […]
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 […]
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 […]
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 […]
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 […]
