Overview As shown from the today’s H4 chart, the metal failed again to break the Support level 22.00 and is still trading between the Support level 22.00 and below the Resistance level 23.00 and currently is bouncing from the Support level and starting for the bullish move. So we still suggest waiting for closing above […]
Overview From the shown H4 chart, the pair failed more than once to break the Support area consisting of the downward trend line with the Support level 152.50 and is still trading above its since yesterday. From the today’s H4 chart the pair bounced from the Support area again and started to take an upward […]
The ongoing scenario of accidental confusion remains today with alternating red and green daily candlesticks within the same price range. 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 Monday, the USD/CAD pair dropped sharply but remained stable […]
Psychological Support 1.5000 that corresponds to Fibonacci 78% pushed the GBP/USD pair strongly to the upside above 1.5130 (Fibonacci 61.8%) then above 1.5220 (Fibonacci 50%). Last Friday, the pair had a brief consolidation around 1.5220 that came in line with the negative money flow sentiment at under -16%. As expected, stabilization above 1.5220 brought bullish strength […]
The pre-mentioned double bottom pattern was confirmed last week when we had daily closure above 1.5150. Thursday’s daily candlestick closed also above strong resistance level 1.5200 which threatened the ongoing bearish momentum. Today, the cable exceeded 1.5320 (high of May 16). However, it is finding supply (resistance) around 1.5365 which corresponds to SMA-100. Breakout of […]
The EUR/USD pair is still hanging around a down trendline that was established around 1.3700 during February. This trendline can be considered broken today. However, the breakthrough is not that clear as the market is moving within a small range roughly between 1.3106 and 1.3050. The pair has a neutral zone extending from 1.2880 to 1.3070, […]
EURUSD: In spite of the current range-trading on this pair, it is still in a bullish mode. The market line at 1.3100 is a serious barrier to the bulls’ interest, but that line would soon be breached to the upside. After this, the EURUSD pair would go upwards towards the resistance line at 1.3150. USDCHF: […]
Technical outlook and chart setups: There is no change from several trading days. It remains locked within the support-resistance boundary at 22.00-23.00 respectively. The trading game of support (buy) and resistance (sell) could be played out well here. It is recommended to remain long on positions taken earlier, but fresh long positions could be taken […]
June 4th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Questions over the effectiveness of “Abenomics” in Japan slapped the Nikkei index in overnight trade, setting the European market up for a weak open this Wednesday morning. Japan’s PM Abe underwhelmed the market with his “third arrow” speech which outlines plans the long term […]
Technical outlook and chart Setups: The structure remains unchanged from what was discussed yesterday. The metal may be preparing for a bullish break above 1,420.00 level, in the coming sessions. It is still recommended to remain long and buy intraday dips as well. Immediate support is seen at 1,370.00 level, followed by 1,350/40 and 1,324.00; […]
Technical outlook and chart setups: The single currency pair bounces off right at the sloping line of resistance and reverses sharply yesterday as depicted here. Currently the rate is trading below 130.00 level, it is highly recommended to remain short and add further on rallies, during the day. Resistance is fixed at 132.00 and 133.80/134.00; […]
Overview: Since our last analysis the EUR/NZD pair has been trading in upward moves, we tested again level 1.6390 on lower volume on the daily chart (no demand bar). On the daily chart we got two climatic bars (ultra high volume bars) which is a strong sign that EUR/NZD is in overbought zone, so we […]
Technical outlook and chart setups: The single currency pair has rallied just ahead of critical support of 1.44. It is recommended to hold on to long positions here in anticipation of a wave 5 rally that extends till 1.51 at least. Major resistance is still fixed at 1.5 level, followed by 1.51, 1.52; while immediate […]
Overview: Since our last analysis Gold has been trading in downward moves like we expected, we got our first intraday target 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 a […]
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:EUR/USD. April 25th. Bulls continue to advance and expect a… April 25, 2024 The EUR/USD pair made a new turnaround in favor of…Forex forecast 04/25/2024: EUR/USD, USDX, Gold and Bitcoin… April […]
UK PMI Construction in May was 50.8 vs. expectations for 49.8 and April’s figure of 49.4. However, being under the market’s pressure, the pound did not manage to develop upward movement and stayed in the assumed range. Today at 12:30 GMT+4 Services PMI in the UK in May is issued, forecast 53.1 vs. 52.9 […]
The unemployment in Spain dropped in May. The number of people out of work fell by 98.3K from April when it fell 46.1K. Specialists forecast a drop for 50.2K. However, PPI in the eurozone in April dropped considerably since med-2009, -0.6% vs. estimates for -0.2%. US Trade Balance in April was slightly better than […]
Today’s Support and Resistance levels: R3: 1.6452 R2: 1.6394 R1: 1.6328 Current spot: 1.6323 S1: 1.6278 S2: 1.6238 S3: 1.6194 Technical overview: As we expected a new high has been made and we are still looking for new highs to be made as wave iii unfolds. Currently we are about to end green wave v […]
Today’s Support and Resistance levels: R3: 131.00 R2: 130.71 R1: 130.57 Current spot: 130.42 S1: 130.19 S2: 129.93 S3: 129.46 Technical overview: The rally of the 129.46 low became much higher than we expected, but even a test of 131.40 does not change the larger picture. We are still in a major wave 2 correction […]
Read the Daily Market Report from Dave Evans, Professional Trader Aussie hit by Shrinking GDP Morning Report: 08.30 London • This morning the main mover is the Australian dollar. The AUD/JPY is off by 1.15%, with the AUD/USD off by 0.85%. Australian GDP came in below estimates this morning, while […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 100.71. Resistance 2: 100.51. Resistance 1: 100.32. Support 1: 100.07 Support 2: 99.87. Support 3: 99.67. DESCRIPTION: Please pay attention to the levels of support 3 (99.67) and resistance 3 (100.71). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but […]
Overview: The EUR/USD pair’s support had been broken and it was turned to resistance around the price of 1.3188 for a month. Therefore, the pair has already formed a strong resistance at 1.3188. Moreover, after it could close above 1.3100 and the pair started signing for bullish market, it should also be noted that the […]
Daily chart: Crude Oil is trying to break the resistance at the 94.46 level. Currently, the price of Crude Oil stays above the 200-day moving average, having made a bullish rebound in it and the support at the 92.79 level. If Crude Oil manages to break the resistance at the 94.46 level, it is expected […]
TODAY’s TECHNICAL LEVELS: Breakout buy level: 1.3135. Strong resistance: 1.3127. Original resistance: 1.3114. Inner sell area: 1.3101. Target inner area: 1.3070. Inner buy area: 1.3039. Original support: 1.3026. Strong support: 1.3013. Breakout sell level: 1.3005. DESCRIPTION: Today EUR/USD has support and resistance at 1.3026 and 1.3114. The rate is accompanied by strong support at […]
RECOMMENDATIONS: Buy stop (pending order) at 131.26. Take profit at 131.40. Stop Loss at 131.16. Alternative: Sell stop (pending order) at 130.74. Take profit at 130.60. Stop loss at 130.84. 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 […]
Overview: The market is continuing to show signs of strength following the break at 1.0250 (green horizontal line in the chart). Additionally, 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 level […]
Daily chart: As we said in the previous analysis, USD/JPY made a bullish rebound on the support at the 99.81 level, trying to climb to the resistance at the 100.94 level. Near the bullish trend line at the level of 98.25, the pair formed a fractal, indicating that a higher low pattern could not form. […]
Yesterday the pound sterling showed an upward movement, exceeding the level of our fractal 1.5330, also led by lower measuring U.S. manufacturing ISM. If you remember our previous analysis, this pair met all our expectations we had been saying the 1.5330 level. However, the construction PMI in the UK exceeds 50 points, which separates contraction […]
Yesterday the euro moved upwardly due to a surprising drop in the ISM Manufacturing, which fell just below the 50 level, indicating that there is a contraction in the sector. As a result, the U.S. dollar depreciated against all crosses. However, this morning at the American session the euro was trading below 1.31 level. Yesterday […]
After a strong recovery the Australian dollar moved to the level of 0.98 yesterday and fell considerably after the policy statement of the Reserve Bank of Australia. The entity left, unchanged interest rate at 2.75%, as expected, however, if you look at the graph this pair has left a gap at the beginning of the […]
