Technical outlook and chart setups: The structure remains unchanged for the metal yet. It is recommended to remain long for now and also look to add on intraday dips. The metal is bounding off the 0.618 Fibonacci support level at 21.30/40 and is expected to reach 24.50 at least in the sessions to come. Supports […]
Technical outlook and chart setups: The single currency pair has held support of 1.44 level well till now. Having tested the immediate support, the pair has bounced off the 1.45 mark for now. It is recommended to stay long as long as the prices are above the 1.44 mark comfortably. Support levels are spread through […]
Overview: Since our last analysis Gold has been trading in downward moves like we expected, we got our first intraday target level at 1,393.50. We are still 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 up move which is […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading downwards, impulsive wave [1] (coloured red) of the bigger wave 3 (coloured green) has finished developing. During the Friday’s Asian and European sessions we could observe descending movement from 0.9571 towards the 0.9462 level. Therefore, during the New York session this major […]
USD/CAD Elliott Wave Last week the USD/CAD pair was trading downwards, impulsive wave [3] (coloured red) of the bigger wave C (coloured green) was developing. During the Friday’s Asian and European sessions we could observe strong descending movement from 1.0287 towards the 1.0166 level and we can consider this movement as the end of the […]
June 10th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European share markets kick off the week on softer tone despite a strong display by Asian bourses in overnight trade. Asian markets were comforted by Friday’s US nonfarm payrolls but gains were curbed by poor data from China over the weekend which is currently […]
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. The scenario of accidental confusion continued last week untill Thursday when we had this massive bearish daily candlestick that closed at 1.0260. Today, the USD/CAD pair […]
UK Visible Trade Balance in April was better than expected -8.22 billion pounds vs. expectations for -8.8 billion pounds. UK Trade Balance Non-EU was -3.41 billion pounds vs. forecast for -3.55 billion pounds. UK Trade Balance was -2.57 billion pounds vs. forecast -3.0 billion pounds. However, the positive was blighted by the inner structure; […]
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 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April 18, 2024 We introduce you to the daily updated section of Forex…Video market update for April 18, 2024 April 18, 2024 Potential […]
The major Friday’s news is US Non-Farm Employment Change in May which was better than expected, 175K vs. forecast for 167K. Data on April was revised downwardly to 149K (which is 16K less). The unemployment rate rose 0.1% up to 7.6%, however it was due to the increase in the number of labour force […]
On Wednesday, the GBP/USD pair expressed daily closure at 1.5409. As expected, this opened the way towards 1.5580 then 1.5620. On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured on Thursday. The pair is failing to fixate above 1.5603 (the high of May and […]
The significant uptrend peaked at 1.5682 last week and the next important resistance is projected at 1.5750 corresponding to 61.8% Fibonacci. Intraday support is projected at 1.5380 (SMA 100). Price Level 1.5580 (50% Fibonacci) is expressing some bearish pressure on the cable today. The pair is probably expressing 123 bullish reversal pattern that becomes confirmed […]
Read the Daily Market Report from Dave Evans, Professional Trader Yen Slips On Strong Japan Data Morning Report: 08.30 London • There are two main movements to note this morning; the sudden yen weakness and the opening gap lower in the dollar pairs. The yen pairs […]
The downtrend line extending from 1.3700 was broken when we had daily closure above 1.3075, this opened the way towards 1.3106 then 1.3250. Price Levels around 1.3250 represent a strong resistance for the EUR/USD pair as it corresponds to previous tops (including the high of previous May). Although the pair expressed bullish daily closure at […]
Daily chart: Crude Oil had a very bullish week and is now trying to climb to the resistance at the 96.73 level. It is quite possible that during this week, CL gets to that level and if CL can break it, it would be expected to rise to the level of 100.33, in the medium […]
Today’s Support and Resistance levels: R3: 130.88 R2: 130.36 R1: 129.98 Current Spot: 129.52 S1: 129.18 S2: 128.58 S3: 128.21 Technical overview: With a low at 126.11 we saw a very slight break below our target at 126.15, but the following rally has broken above the bottom of wave i at 129.41 and, therefore it […]
Today’s Support and Resistance levels: R3: 1.6961 R2: 1.6921 R1: 1.6881 Current Spot: 1.6837 S1: 1.6781 S2: 1.6726 S3: 1.6678 Technical overview: The wave 3 rally just keeps moving higher and higher. It is most likely we have ended green wave v and blue wave iii at 1.6687 and after a very small and brief […]
Daily chart: The GBPUSD pair is trying to make consolidation’s movements above support at the 1.5506 level, after having had a very bullish week. It is quite possible that during this week this pair forms a lower high pattern in order to try to break the resistance level at 1.5642. If the pair manages to […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 98.42. Resistance 2: 98.23. Resistance 1: 98.04. Support 1: 97.80. Support 2: 97.61. Support 3: 97.41. DESCRIPTION: Please pay attention to the levels of support 3 (97.41) and resistance 3 (98.42). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, […]
TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.3266. Strong Resistance: 1.3258. Original Resistance: 1.3245. Inner Sell Area: 1.3232. Target Inner Area: 1.3201. Inner Buy Area: 1.3170. Original Support: 1.3157. Strong Support: 1.3144. Breakout SELL Level: 1.3136. DESCRIPTION: Today EUR/USD has support and resistance at 1.3157 and 1.3245. The rate is accompanied by strong support at 1.3144 […]
RECOMMENDATION: Buy stop (pending order) at 129.76. Take profit at 129.90. Stop loss at 129.66. 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: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable […]
EUR/USD: The market trended northwards last week, hitting the resistance line at 1.3300 before its current pullback. The pullback is not supposed to pull the price backwards below the support line at 1.3150. This means it is expected that the market would continue going northwards. USD/CHF: This pair went seriously downwards last week, testing […]
Overview: The 4H chart demonstrates today that silver takes a downward move after breaking the support level 22.00 and currently is approaching the support level 21.00. Given that the pair closes 4H below this support level, it will provide a good opportunity to sell below the support level. After that we should wait for breaking […]
FOREX Weekly Outlook by Easy-Forex.com Weekly Outlook – 11th March 2013 USD/JPY soaring as US Data Improves Last week’s currency trading review USD/JPY persistently strong US data is helping the Yen pair tofresh multi year highs with February US Nonfarm payrolls beating expectationsat 236k vs. 160k forecast and the Unemployment Rate dropping sharply to 7.7%vs. […]
The scenario of accidental confusion continued this week untill yesterday when we had this massive bearish daily candlestick that closed at 1.0260. 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. Today, the USD/CAD pair is still affected by […]
On Wednesday, the GBP/USD pair expressed daily closure at 1.5409. As expected, this opened the way towards 1.5580 then 1.5620. On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured Yesterday. The pair is failing to fixate above 1.5603 (the high of May and the […]
The downtrend line extending from 1.3700 was broken when we had daily closure above 1.3075, this opened the way towards 1.3106 then 1.3250. Price Levels around 1.3250 represent a strong resistance for the EUR/USD pair as it corresponds to previous tops (including the high of May). Obviously, the pair expressed bullish daily closure at 1.3244 […]
The significant uptrend peaked at 1.5682 yesterday and the next important resistance is projected at 1.5460. Intraday support is located at 1.5460, followed by the most important one at 1.5365. Breakthrough of 1.5320 (the high of May 16) then 1.5370 exposed 1.5570 which is the nearst resistance zone for the pair. Price Level 1.5580 (50% […]
Technical outlook and chart setups: The metal continues to drift sideways between 22.00 (Support) and 23.00 (Resistance) since several trading sessions. It is recommended to hold long positions taken earlier, but fresh long positions could be taken on a break above 23.00 level, which should be expected soon enough. Immediate resistance is at 23.00, followed […]
Technical outlook and chart setups: The metal is finally out of the cone consolidation as depicted here. 1,405/06 levels should now act as support for Gold. Immediate support is at 1,390.00 level, followed by 1,370.00, 1,340/50 and 1,324.00, while resistance is now lined up through 1,440/50, followed by 1,488 and higher up. The whole wave […]
