Overview: USD/JPY is consolidating after hitting four-and-a-half year high of 103.74 on Wednesday. The rate is underpinned by positive USD sentiment after Federal Reserve Chairman Bernanke said the Fed could begin tapering its bond-buying program in the “next few meetings” if the U.S. economy improved, and minutes from the April 30-May 1 FOMC meeting showing […]
We are pleased to announce the latest sports triumph of Apollon Limassol with the sponsorship of XEMarkets. As an essential part of social responsibility, XEMarkets has already initiated several successful sponsorship campaigns, one of these being the XEMarkets-Apollon Sponsorship, officially announced in August 2012. For XEMarkets sustainable support in the form of sponsorship to young […]
USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading upwards, just like we expected, impulsive wave 5 (coloured green) of the bigger wave (A) (coloured blue) has finished developing. Yesterday, during the Asian session we could observe ascending movement from 1.0235 towards the 1.0321 level. Therefore, during the European and […]
EUR/USD Elliott Wave Since our last analyses the EUR/USD pair has been trading downwards, impulsive wave 1 (coloured blue) of the bigger wave (5) (coloured green) has been developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.2903 towards the 1.2997 level and we can consider this move as the […]
Yesterday we expected positive amid the UK macroeconomic events. However, it did not prove. The UK Retail sales instead of being flat dropped 1.3%. Public Sector Net Borrowing was 8.0 billion pounds vs. expectations for 7.7 billion pounds. The UK Factory orders index was -20 vs. forecast for -18. As the result during the publication […]
We are pleased to announce the latest sports triumph of Apollon Limassol with the sponsorship of XM. As an essential part of social responsibility, XM has already initiated several successful sponsorship campaigns, one of these being the XM-Apollon Sponsorship, officially announced in August 2012. For XM sustainable support in the form of sponsorship to young […]
After yesterday’s speech of the Fed’s Chairman Ben Bernanke and publication of FOMC reports, US stock market lost more than half a per cent (S&P500 -0.85%), the euro dropped 48 points. “What we are looking for is increased confidence that the labor market is improving and that that improvement is sustainable,” Bernanke told yesterday. “And […]
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:Video market update for April 24, 2024 April 24, 2024 Potential for the downside movement on the NAS100The material has…Forex forecast 04/24/2024: EUR/USD, USD/CAD, Oil and Bitcoin… April 24, 2024 We […]
Daily chart: The AUDUSD pair is forming a higher low pattern over the support at the level of 0.9664. The Aussie continues to be very weak and in yesterday’s session it fell more than 120 pips, forming a support at 0.9664 level. If the AUDUSD pair breaks that support it is expected to fall to the […]
Daily chart: The USDX is preparing to make a breakout in actual resistance level at 84.22. The news was positive for USDX in yesterday’s session, therefore, is expected to be finished this lower high pattern, to climb to the resistance at the 85.18 level in the medium term. The MACD indicator remains in positive territory […]
Read the Daily Market Report from Dave Evans, Professional Trader Aussie plunges as China factory output hits seven month low Morning Report: 08.00 London • This morning world markets have continued selling off from the highs following news that Chinese flash manufacturing PMI came in below […]
Overview From the today’s H4 chart, the metal is still trading between the Support level 22.00 and below the Resistance level 23.00 after its failure to break the Resistance level yesterday and bounced from it to take a slightly downward move and currently is re-testing the Support level 22.00 again. Presently we suggest waiting for closing […]
Today’s Support and Resistance levels: R3: 1.6134 R2: 1.6085 R1: 1.6024 Current spot: 1.6002 S1: 1.5937 S2: 1.5888 S3: 1.5826 Technical overview: As we have entered the powerful wave iii of 3 we should see acceleration towards the upside. We have seen a break above the base-channel resistance line as it was expected as […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 103.94. Resistance 2: 103.74. Resistance 1: 103.54. Support 1: 103.29. Support 2: 103.08. Support 3: 102.88. DESCRIPTION: Please pay attention to the levels of support 3 (102.88) and resistance 3 (103.94). 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: 1.2903. Strong Resistance: 1.2896. Original Resistance: 1.2883. Inner Sell Area: 1.2870. Target Inner Area: 1.2840. Inner Buy Area: 1.2810. Original Support: 1.2797. Strong Support: 1.2784. Breakout SELL Level: 1.2777. DESCRIPTION: Today EUR/USD has support and resistance at 1.2797 and 1.2883. The rate is accompanied by strong support at 1.2784 […]
Overview: As it was expected yesterday, the price would continue its bearish move after breaking the support area that consists of the intersection point of the downward trend line and the support level 154.75. Today and as shown in the H4 chart, the pair has already broken this support area and currently is trading below […]
WEEKLY 8 HOURLY Today’s support and resistance levels: R3: 133.10 R2: 132.88 R1: 132.66 Current spot: 132.24 S1: 131.95 S2: 131.55 S3: 130.95 Technical overview: With the test of 133.81 yesterday, we have seen the end of wave 5 and wave I of the entire rally since the July 2 2012 low at 94.10. We […]
RECOMMENDATIONS: Buy stop (pending order) at 133.01. Stop loss at 132.91. Take profit at 133.15. Alternative: Sell stop (pending order) at 132.24. Stop loss at 132.34. Take profit at 132.10. 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 […]
The British pound approaches the psychological level of 1.50, a level that was quoted at the beginning of April. Today it has fallen after the publication of retail sales data in the UK, which offered a decline of 1.3%, compared to a unchanged forecast of analysts. The British currency has been weak since the beginning […]
This morning the Australian dollar receded, after it had won positions on Monday and part of Tuesday. It fell back these times, because the Consumer Confidence Index, which showed a significant drop. This data was the trigger for a new decline of the Aussie. Now, looking at the lines of fractals, this pair is […]
Overview: USD/JPY is consolidating as markets are waiting for Federal Reserve Chairman Bernanke’s testimony before Congress, scheduled at 14:00 GMT, and FOMC meeting minutes, due at 18:00 GMT. BOJ is expected to stand pat on monetary policy, but traders are focusing on how the central bank will respond to the volatile Japanese government bond market–some […]
This morning the euro was trading higher the daily fractal 1.2877. Given that this pair is showing an upward bias, it is likely to stop the rise in the resistance of 1.3006, a level that coincides with the 200-day moving average. This area is a very strong resistance level because in the preceding weeks it […]
Overview From the today’s H4 chart, yesterday the metal failed to break the Support level 22.00 to bounce again from it and trade between the Support level 22.00 and the Resistance level 23.00. Currently the metal is re-testing the Resistance level 23.00 again, therefore we should wait for closing above to continue its upward trend […]
Overview As shown from the today’s H4 chart, the pair kept its bearish trend out of the bullish channel and currently is moving above the downward trend line. Presently the pair is approaching the strong Support area which consists of the intersection point of the Support level 154.75 with the downward trend line. If the […]
Technical outlook and chart setups: The metal has retraced and bounced back off 22.00 level yesterday. It was recommended to go long around 22.00 to 21.40/50, and it is still recommended to initiate long positions, towards a measured target of 25.00 levels. 22.00 is immediate support at the moment, followed by 21.45/50, 2.70/80 and then […]
Technical outlook and chart setups: The metal had retraced 1,360.00 level and bounced off sharply as discussed and recommended yesterday. Short positions could have been covered and long positions initiated around 1,370.00 level. It is still recommended to initiate long positions now (1,385.00) or during intraday dips. The metal seems to have bottomed out for […]
The weak bullish structure with integrated swings led to the price fall 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 which came to meet the pair at 1.5315 with the lower limit of the depicted bullish […]
Support level around 1.0016-0.9995 (61.8% Fibonacci) provided evident bullish steam for the pair to step above 1.0300 topping at 1.0319. The USD/CAD pair did not show much respect for the price zone 1.0250-1.0290 on retesting, which took place on Friday. Hence, there is no confirmed destination for the pair untill now. It is important to […]
Technical outlook and chart setups: The single currency pair has broken out pennant formation as discussed yesterday and has again produced a bullish break. The 133.00/10 resistance has now been taken off and we have been stopped out; it is recommended to remain flat for now. As depicted here, the wave structure extends to 135.00 […]
Technical outlook and chart setups: The single currency pair is still back-testing the line of resistance and is expected to bounce back. As depicted here, major resistance is fixed at 1.5 level, followed by 1.51/52 and higher up; while support is at 1.4580, followed by 1.45, 1.44 and lower. It is still recommended to hold […]
