The weak bullish structure with integrated swings led to the price fell after the upper limit of the movement channel 1.5590-1.5600 had provided a considerable resistance for the pair. Breakdown of important support level 50% Fibonacci (1.5220) then Fibo 61.8% (1.5130) opened the way for the pair towards 1.5015 (Fibonacci 78%) which expressed bullish rejection so […]
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. On Thursday, the USD/CAD pair dropped sharply but remained stable above 1.0300 and the significant support 1.0260 (previous top established in April). This enhances the bullish view for the pair. As […]
Overview: Since our last analysis Gold has been trading in upward move. It tested the level of 1,410.00, (our supply level) on lower volume and we are still waiting for our first target level FE 61.8% at price 1,323.00, according to the daily chart. We saw decreasing volume in previous up move which is good […]
Supply zone located around 1.5550-1.5600 (the upper limit of the depicted bullish channel and 50% Fibonacci level) provided considerable resistance for the cable. It pushed the pair down to 1.5015. The bullish recovery pattern above 1.5020 is still valid, this favors one more upswing, for testing of 1.5190-1.5200 supply zone. Moreover, this bullish recovery represents […]
We talked about consolidation of the pair within the price range 1.2970 -1.3240 and the importance of breakout off this zone for the liberation of the pair which already took place on May 10. However, the EUR/USD pair is still trapped in a larger consolidation range between 1.2745 (2013 low) the 1.3240 (April high). Despite the […]
May 30th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist A sharp drop over 5% in Japan’s Nikkei index weighs on European markets this morning, while continued concerns over both Fed tapering of QE and slowing global growth remain at the forefront of investors’ minds. Stocks in Europe and the US sold off in […]
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 CBI retail sales volume balance in May was published. The reading was -11 vs. forecast for 4 and -1 in April. Bank of England Deputy Governor Charles Bean told about difficulties in coordination of monetary policy, export of services, etc. According to a money manager at Pacific Investment management Co. (Pimco), the […]
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 […]
German unemployment in May rose more than estimated. The number of people out of worked jumped a seasonally adjusted 21K vs. forecast for 5K. Figures from April were revised upwardly to 6K. The unemployment rate stayed at the level of 6.9%. The Organization for Economic Cooperation and Development for the euro area slashed its forecast […]
Read the Daily Market Report from Dave Evans, Professional Trader Gold rallies as investors take fright Morning Report: 09.15 London • Traders endured a negative Asian session, with Japanese Nikkei dropping more than 3% and the USD/JPY reaching its lowest level since the middle of the month. […]
We are glad to announce that on 23-24 May 2013 XEMarkets participated at the biggest Italian trade fair, the Investment and Trading Forum. This year’s trade fair was especially significant in our corporate history as XEMarkets participated for the first time in an Italy-based financial event of such importance, side by side with many of […]
Daily chart: Yesterday, Crude Oil had a very bearish session, leading it to fall to the support level at 92.79, which is placed the 200-day moving average. It was very difficult to break this support weeks ago and this makes it a very important to the development trend of Crude Oil in the long term. […]
Daily chart: The GBPUSD pair failed to break the support at the 1.5023 level and at that level it made a bullish rebound, approaching resistance at the 1.5159 level. If this pair breaks that resistance, it would be expected to rise until the next resistance level at 1.5266. On the other hand, the GBPUSD pair […]
Overview: The EUR/JPY pair suggests that a decline from 132.10 observed last week had resumed to 130.00 (this level is going to form a strong support). As well as the pair has already formed a strong resistance at the level of 132.80 and it is now approaching it in order to test it. Moreover, […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 101.86. Resistance 2: 101.66. Resistance 1: 101.46. Support 1: 101.21. Support 2: 101.01. Support 3: 100.81. DESCRIPTION: Please pay attention to the levels of support 3 (100.81) and resistance 3 (101.86). 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: 1.3008. Strong Resistance: 1.3001. Original Resistance: 1.2988. Inner Sell Area: 1.2975. Target Inner Area: 1.2945. Inner Buy Area: 1.2915. Original Support: 1.2902. Strong Support: 1.2889. Breakout SELL Level: 1.2882. DESCRIPTION: Today EUR/USD has support and resistance at 1.2902 and 1.2988. The rate is accompanied by strong support at 1.2889 […]
We are glad to announce that on 23-24 May 2013 XM participated at the biggest Italian trade fair, the Investment and Trading Forum. This year’s trade fair was especially significant in our corporate history as XM participated for the first time at an Italy-based financial event of such importance, side by side with many of […]
EUR/USD: This pair is making an attempt to go north. Looking closely at what the indicators in the charts are doing, there is a long signal. The long signal is valid as long as the price is above the support line of 1.2900. Meanwhile, the price could reach the resistance line of 1.3000. USD/CHF: Given […]
RECOMMENDATIONS: Buy stop (pending order) at 131.51. Stop loss at 131.41. Take profit at 131.65 Alternative: Sell stop (pending order) at 130.74. Stop loss at 130.84. Take profit at 130.60. 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: […]
Overview: The market is continuing to show signs of strength following the break at 1.0250 (green horizontal line in the chart). Additionally, the USD/CAD’s resistance was broken and turned to support last week. Furthermore the pair has already formed a strong support at the level of 1.0250. Consequently, the market indicates a bullish opportunity at the […]
At the beginning of the Asian session the Australian dollar was again affected by an IMF forecast that reduced growth expectations in China, as it has noticeable influence on the Aussie. The currency has reached its lowest level since early October 2011 at 0.9527. If you observe the chart this level fits with the […]
Overview From the today’s H4 chart, silver is still stabilizing above the Support level 22.00 and could not break it and currently is bouncing from it towards the Resistance level 23.00. So we still suggest waiting for closing above the Resistance level 23.00 in case of bouncing from the Support level 22.00 to give us […]
Overview As it was expected yesterday, we should wait for breaking the Resistance level 153.85 before making the decision to continue the bullish move. Today and as shown from the H4 chart, the pair failed to break this Resistance level and yesterday it also failed to break the upper boundary of the bearish channel and […]
Overview: NZD/USD is trading with bullish bias. The rate is undermined by positive U.S. dollar sentiment; contagion from weak Aussie. But NZD/USD losses tempered by NZD-USD yield gap; firmer commodity prices; Kiwi demand on soft AUD/NZD cross. Daily chart negative-biased as bearish outside-day-range pattern completed Tuesday, MACD is bearish, stochastics is staying suppressed at oversold, […]
Overview: GBP/JPY is in range-trade. The rate is supported by buoyant USD/JPY undertone: euro demand from Japan importers; BOJ’s aggressive easing measures to help achieve its 2% inflation target. But GBP/JPY upside limited by soft EUR/USD; euro sales from Japan exporters. Daily chart is still negative-biased as MACD and stochastics are in bearish mode; five-day […]
Overview: USD/CHF is trading in lower range. The rate is supported by positive dollar sentiment; franc sales on buoyant EUR/CHF cross; residual effect of Swiss National Bank President Thomas Jordan’s comments last week that the SNB is open to weakening its currency further against the euro and would even consider negative interest rates if necessary. […]
Overview: USD/JPY is trading in lower range. USD/JPY rebounded strongly from 100.96 on Tuesday after Nikkei ground 1.2% higher, and extended its gains to as high as 102.51 overnight. The rate is underpinned by positive dollar sentiment on rise in U.S. Conference Board’s consumer confidence index to five-year high of 76.2 in May (vs 72.0 […]
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. On Thursday, the USD/CAD pair dropped sharply but remained stable above 1.0300 and the significant support 1.0260 (previous top established in April). This enhances the bullish view for the pair. As […]
The weak bullish structure with integrated swings led to the price fell after the upper limit of the movement channel 1.5590-1.5600 had provided a considerable resistance for the pair. Breakdown of important support level 50% Fibonacci (1.5220) then Fibo 61.8% (1.5130) opened the way for the pair towards 1.5015 (Fibonacci 78%) which expressed bullish rejection so […]
