Technical outlook and chart setups: The metal has been trading again in a cone consolidation (pennant) since several days. It is recommended to exit short positions now (1,382/83) and initiate at least 50% long positions. The sideways structure is indicating a break around 1,400.00 (bullish) or a bearish break below 1,373.00. Looking into the overall […]
Technical outlook and chart setups: As depicted here on the 4H chart view, the single currency pair is attempting to break down a trend line at the moment. It is recommended to exit long positions at current price around 131.00. Conservative trade strategy would be to wait for a daily confirmation, while an aggressive trading […]
Overview: Since our last analysis the EUR/NZD pair has been trading in downward moves like we expected, the price tested 1.5866 and almost reached our first target level at 1.5840. If you take a look at a volume around area 1.6050 you can see that we got lack of demand. I calculated the total volume […]
Technical outlook and chart setups: The single currency pair remains very much on track to reverse on the lower side; as we have been discussing lately. Last week, the pair had tested and reacted with bearish signal confirmation on the sloping downtrend line as seen here. Immediate resistance is 1.48, followed by major resistance at […]
USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading in a sideways move, triangle correction (B) (coloured blue) has been developing. Yesterday, during the Asian and European sessions we could observe descending movement from 1.0366 towards the 1.0323 level and we can consider this move as the end of the […]
EUR/USD Elliott Wave Since our last analysis the EUR/USD pair has been trading downwards, just like we expected, impulsive wave 3 (coloured blue) of the bigger wave (5) (coloured green) has been developing. During the Thursday’s Asian and European sessions we could observe ascending movement from 1.2884 towards the 1.2949 level. Therefore, during the New York session this major […]
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 26th. Bulls continue to advance after the GDP… April 26, 2024 The EUR/USD pair on Thursday rebounded from the corrective level…Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed […]
EURUSD: The indication on the market is bearish – since the price is going south. The price is currently trading below the resistance line of 1.2900, besieging the market line at 1.2850. The market line at 1.28050 ought to be breached to the downside very soon, after which the price would go for the support […]
Yesterday the pound dropped 60 points. Today at 14:00 GMT+4 a Confederation of British Industry’s report in May is released. It is forecast to be 4 vs. -1 in April. However, earlier, at 13:30 GMT+4 Bank of England Deputy Governor Charles Bean speaks. At the moment we are not sure whether he speaks about growth […]
Read the Daily Market Report from Dave Evans, Professional Trader Potential China slowdown spooks markets Morning Report: 09.15 London • Financial markets are on the slide this morning as investors fret over another downbeat China growth report from the IMF. This alone would be enough to […]
On Tuesday data on the US was rather strong and the US dollar strengthened along with the stock market. S&P/Case-Shiller US National Home Price index in March grew 1.4% vs. expectations for 0.7%. US Consumer Confidence in May was 76.2, the highest post-crisis figure vs. expectations for 70.6. Today at 11:55 GMT+4 Unemployment Rate is […]
Daily chart: The USDX continues to forming a lower high pattern below the resistance level of 84.29. Yesterday it was a bullish session for this market due to the holiday that was last Monday and this produced many buy orders on the USDX, supported by the fact that there were positive news for the U.S. […]
Daily chart: The GBPUSD pair continues forming a higher low pattern over the support at the level of 1.5023. In the resistance, near the level of 1.5159, a fractal is formed indicating that this resistance is very strong and it would be highly probable that the GBPUSD pair breaks the support at the level of […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 102.66. Resistance 2: 102.46. Resistance 1: 102.26. Support 1: 102.01. Support 2: 101.81. Support 3: 101.61. DESCRIPTION: Please pay attention to the levels of support 3 (101.61) and resistance 3 (102.66). 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: 1.2908. Strong Resistance: 1.2901. Original Resistance: 1.2888. Inner Sell Area: 1.2875. Target Inner Area: 1.2845. Inner Buy Area: 1.2815. Original Support: 1.2802. Strong Support: 1.2789. Breakout SELL Level: 1.2782. DESCRIPTION: Today EUR/USD has support and resistance at 1.2802 and 1.2888. The rate is accompanied by strong support at 1.2789 […]
RECOMMENDATIONS: Sell stop (pending order) at 130.99. Stop loss at 131.09. Take profit at 130.85. Alternative: Buy stop (pending order) at 131.76. Stop loss at 131.66. Take profit at 131.90. 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 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 today’s H4 chart, yesterday the pair failed to break the intersection point between the upper limit of the bullish channel with the Support level 152.50 to reverse its bearish movement taking an upward move and managed to break the Resistance level 153.25 and currently is testing the Resistance level 153.85. Given that the […]
This morning the British pound was above 1.51 level, but it failed to break the barrier of 1.5152, which could not been reached on Monday. But the passing of which would give impetus for virtually the rest of the week in upward direction. Now this morning the pair moved away from daily fractal level 1.5080. […]
This morning the euro showed a small upward bias. It is likely it will try to reach the 1.30 area. But looking at technical indicators, we note that this pair is under downward pressure. However, looking at the chart below we may notice that the Momentum Indicator has been driven below the bearish channel. […]
The Australian dollar strengthens after having reached the level of 0.9593 forming a double bottom figure technique, which increases the probability of an upward movement for the next few days. At least to the level of the second weekly resistance, 0.9944. From the geopolitical point of view, this pair is linked to the Japan’s economy, […]
Overview: NZD/USD is trading with bearish bias. The rate is undermined by contagion from weak Aussie; weak commodity prices; and Kiwi sales on soft NZD/JPY cross. But NZD/USD losses tempered by NZD-USD yield gap. Daily chart is negative-biased as MACD is bearish, stochastics is staying suppressed at oversold, five- and 15-day moving averages falling. Trading […]
Overview: GBP/JPY is trading with risks skewed lower. The rate is undermined by doubts over feasibility of Bank of Japan’s policy to achieve 2% inflation after recent volatility in JGB market; euro sales from Japan exporters. But GBP/JPY losses tempered by euro demand from Japan importers. Daily chart is negative-biased as MACD and stochastics […]
Overview: USD/CHF is trading in higher range. The rate is supported by franc sales on soft CHF/JPY cross; lingering 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. Daily chart is […]
Overview: USD/JPY is trading with risks skewed lower. The rate is undermined by doubts over feasibility of Bank of Japan’s policy approach after minutes from BOJ’s April policy meeting indicated some uncertainty among board members over central bank’s goals. This as BOJ’s aggressive easing measures to achieve 2% inflation target also led to rise in […]
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. The GBP/USD pair broke down important support level, 50% Fibonacci (1.5220) which opened the way for the pair towards Fibo 61.8% (1.5130) which was broken too. Failure […]
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 […]
Despite the intraday positivity and failure to consolidate below the key ascending trendline around 1.2835, the pair failed to fixate above 1.2980 we need to see the EUR/USD pair stable below this up trendline in order to pursue the bearish momentum. We talked about consolidation of the pair within the price range 1.2970 -1.3240 and the […]
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 last week. It pushed the pair down to 1.5015. Previous consolidation range above 1.5200 was broken down when we had daily closure below 1.5190. Based on this bearish range breakout, the cable hit […]
Forecast: According to the previous events, the price has still been trapped between 1.0300 and 1.0350. The support is set at the level of 1.0250, therefore the bulls are going to buy above 0.9900 with the first target of 1.0350, it might resume to 1.0390. Double top on the price 1.0393 and it should be noted […]
