Technical outlook and chart setups: The structure has not changed from last few trading sessions, as depicted here. Immediate support is at 1.44, followed by 1.4070 and lower. Till the time prices are above 1.44 level, the single currency pair is expected to print higher highs. Immediate resistance would be at 1.47, followed by 1.48 […]
The pre-mentioned double bottom pattern confirmed by daily closure above 1.5150 achieved its full target at 1.5330. This week, the cable exceeded 1.5320 (the high of May 16) then 1.5370 which corresponds to SMA-100 and had a daily closure at 1.5403. Daily closure above 1.5400 will probably expose 1.5500-1.5570 as it is the next resistance […]
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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 […]
Yesterday data on UK Services PMI in May was published. It was 54.9 vs. expectations for 53.1. Amid weak economic data from the eurozone and the US, the pound strengthened 93 points. Today at 15:00 GMT+4 Asset Purchase Facility and the BoE MPC Interest Rate Announcement are scheduled. The expectations did not change, 0.5% […]
Yesterday we said that “it is not so bad in the eurozone” and in the US “it is much better”, however, it turned out not to be true. According to the data published yesterday, the situation is “very bad” and in the US it is “slightly better”. Services PMI in the eurozone in May […]
Read the Daily Market Report from Dave Evans, Professional Trader Markets cautious ahead of ECB Morning Report: 08.30 London • This morning, financial markets are generally cautious ahead of today’s ECB meeting. Analysts mostly expect the ECB to stand pat, but there is an outside chance […]
EURUSD: This is a bull market and the price is currently close to the resistance line at 1.3150. There is a strong Bullish Confirmation Pattern on the chart and, therefore, that nearest resistance line would be an easy prey for the bulls. After this, the price could target the resistance line at 1.3200. USDCHF: As […]
Today’ s support and resistance levels: R3: 1.6667 R2: 1.6626 R1: 1.6562 Current spot: 1.6525 S1: 1.6464 S2: 1.6392 S3: 1.6327 Technical overview: We got a daily close above resistance at 1.6358 . We are also see even more acceleration towards the upside. With the close above resistance at 1.6358, we now have a new […]
Today’s support and resistance levels: R3: 130.65 R2: 130.31 R1: 130.06 Current spot: 129.94 S1: 129.42 S2: 128.80 S3: 128.05 Technical overview: We have seen a slight break below support at 129.46, but we are looking for even more acceleration towards the downside, as a possible wave iii of C is progressing for a decline […]
Daily chart: GBP/USD finished to form the lower high pattern, and now this pair is trying to break the resistance at 1.5407. If it succeeds, this pair could rise to the resistance level at 1.5523, which is the average 200 moving. Furthermore, there is a possibility that GBP/USD will make a bearish rebound on this […]
Overview: USD/CHF is in range-trade. The rate is supported by positive dollar sentiment. But USD/CHF upside is limited by franc demand on soft EUR/CHF cross; caution ahead of U.S. May non-farm payrolls report Friday. Daily chart is mixed as five-day moving average is below 15-day MA and falling, MACD is bearish; but stochastics is turning […]
The British pound managed to gain positions as due to the publication of data in the UK. The services PMI rose above expectations, and confirmed a broad expansion observed last month, leading to the pound near the 1.54 area. If we expect this pair continue to rise, the pound will exceed that maximum to confirm […]
The Australian dollar has been under downward pressure. The pair has been one of the currencies with a great capacity for recovery. But now it is struggling to recover and leave the 0.9598 area. If you look at the graph, this level includes weekly pivot point. If we talk discuss this level, in September 2011, […]
This morning the euro was operating near the 1.31 area, with the first resistance at the maximum of the week. It touched touched 1.3105 twice. It will be very difficult for the euro to maintain the uptrend. So if you look at the graph, it is likely that the pair has a decline to […]
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 […]
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 […]
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, […]
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 […]
