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 […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading upwards, just like we expected, final wave 5 (coloured green) of the bigger wave (A) (coloured red) has started to develop. Yesterday, during the Asian and New York sessions we could observe ascending movement from 1.0233 towards the 1.0320 level. Therefore, during […]
EUR/USD Elliott Wave For the last few days the EUR/USD pair has been trading upwards, corrective wave (4) (coloured green) of the bigger wave 1 (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe descending movement from 1.2900 towards the 1.2840 level and we can consider this move as 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 1.5075. Previous consolidation range above 1.5200 was broken down, breaking the lower limit of the ascending channel as well then we had daily closure […]
May 22nd 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Soft open for European share markets this Wednesday morning ahead of key economic data and the eagerly awaited Fed minutes together with Fed head Bernanke’s comments. The risk tone improved overnight after Wall Street recorded fresh highs again and Asian markets enjoyed a relatively […]
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 […]
After published yesterday data on the UK inflation the pound dropped 100 points. PPI Input fell 2.3% vs. expectations for -1.2%. Consumer Price Index – Core (y/y) grew 2% vs. estimates for 2.3%. Retail Price Index was 2.9% vs. forecast for 3.1%. Today at 12:30 GMT+4 data on UK Retail Sales in April is published. […]
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 it was a very eventful day. Two representatives of the Fed and Secretary of the Treasury spoke. However, the trading session was particular as major investors did not react to policymakers’ speeches but vigorously distributed open positions (i.e. closed them) before the published today FOMC report. At 12:00 GMT+4 Current Account in the eurozone […]
Daily chart: The USDX is forming a lower high pattern below the resistance level at 84.22 and above the support level at 83.22. There is the possibility that the USDX will fall to the support level of 83.22, but it can make a bullish rebound there, to continue forming the bullish pattern and break the […]
Read the Daily Market Report from Dave Evans, Professional Trader Has the dollar rally gone too far? Morning Report: 08.00 London • This morning markets are generally quiet ahead of a busy economic calendar today. Markets are generally positive, with stock markets nudging back towards the […]
Trading recommendations: According to the previous events, the price has still been trapped between 0.8190 (50% of Fibonacci retracement levels) and 0.8120 (23.6% of Fibonacci retracement levels). Long buying: Buy above 0.8060 with the first target of 0.8120, it might resume to 0.8230. Short selling: Outlook -1-: Swing trade at 0.8234 in order to sell […]
Daily chart: The GBPUSD pair failed to break the resistance level 1.5270 and due to poor economic data released yesterday in the UK, the cable fell over 100 pips, finding support in the 1.5159 level. Above this level, this pair is forming a higher low pattern and is expected to fall to support at the […]
Today’s Support and Resistance levels: R3: 1.5924 R2: 1.5885 R1: 1.5851 Current spot: 1.5835 S1: 1.5820 S2: 1.5764 S3: 1.5728 Technical overview: As we saw a break below support at 1.5744, we needed a little detour to 1.5702 before we saw the next move higher. With the break above resistance we should now see an […]
Today’s Support and Resistance levels: R3: 134.00 R2: 133.54 R1: 132.77 Current spot: 132.42 S1: 132.22 S2: 131.94 S3: 131.55 Technical overview: It finally seems as we are going to see the last part of the rally towards the ideal target near 134.47. Over the last week a small wave iv of 5 triangle was […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 103.11. Resistance 2: 102.91. Resistance 1: 102.71. Support 1: 102.45. Support 2: 102.25. Support 3: 102.05. DESCRIPTION: Please pay attention to the levels of support 3 (102.05) and resistance 3 (103.11). 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: 1.2983. Strong Resistance: 1.2976. Original Resistance: 1.2963. Inner Sell Area: 1.2950. Target Inner Area: 1.2920. Inner Buy Area: 1.2890. Original Support: 1.2877. Strong Support: 1.2864. Breakout SELL Level: 1.2857. DESCRIPTION: Today EUR/USD has support and resistance at 1.2877 and 1.2963. The rate is accompanied by strong support at 1.2864 […]
RECOMMENDATION: BUY Stop (Pending Order) at 132.76. Stop Loss at 132.66. Take Profit at 132.90. 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 Companies Group InstaForex Companies Group http://instaforex.com Email: [email protected] Yahoo Messenger and Skype: Arief.ifx_jakarta […]
Overview: USD/CHF: It should be noted that the price has still been trapped between 0.9720 and 0.9670 and below strong resistance at the level of 0.9760 (100% of Fibonacci retracement levels in H1 chart). Moreover, it should be said that these levels are coinciding between 61.8% and 100% of Fibonacci retracement levels in H1 chart, […]
EUR/USD: Here, there has been some rally in the context of a downtrend. The rally is serious enough to pull the Williams’ Percent Range towards the overbought territory, and the EMAs as well are under attack. Should the price go above the resistance line at 1.2950, it could lead to the invalidation of the current […]
The euro did not experience greate changes in the last few hours and there are significant variations. Although, according to the indicator of fractals, this pair is consolidating below 1.2878, daily fractal. If the euro closes the day below 1.2855, the fall could be fast until the next fractal 1.2599. On the other hand, a […]
On Monday, the Australian dollar was recovering positions, but it has declined again today. Given that this pair has had a free fall, now it is at least in the 0.9720 support level. On the other hand, indicators on the H4 and daily charts continue to show a high probability of the Aussie recovers, especially […]
Overview: USD/JPY is trading in lower range. The rate is undermined by profit-taking on yen-shorts as market participants pared exposure ahead of Federal Reserve Chairman Bernanke’s testimony before U.S. Joint Economic Committee and release of U.S. Federal Open Market Committee minutes, both on Wednesday; weaker dollar sentiment after Fed’s Evans said there’re no signs the […]
Overview: GBP/JPY is trading with risks skewed lower. The rate is undermined by positions adjustment ahead of Fed Chairman Bernanke’s testimony before Congress on Wednesday; euro sales from Japan exporters. But GBP/JPY losses limited by Bank of Japan’s aggressive easing measures to help reach its 2% inflation target; euro demand from Japan importers. Daily chart […]
Overview: NZD/USD is trading with bullish bias. The rate is underpinned by weaker USD sentiment; stronger commodity prices; NZD-USD yield gap; profit-taking on Kiwi-shorts ahead of Fed Chairman Bernanke’s testimony before Congress on Wednesday; lingering effect from New Zealand Finance Minister Bill English’s comment Sunday that pressure on the Reserve Bank of New Zealand to […]
Today after the release of the UK inflation report, the British pound has fallen. It grew less than expected, making stumbling to the British currency to its lowest since April 4. In the medium term the pound remains a downward trend that could be extended to the 1.48 area. Now, in the short term there […]
Overview: USD/CHF is trading in lower range. The rate is undermined by weaker dollar sentiment; franc demand on soft EUR/CHF cross; profit-taking on CHF-shorts ahead of Fed Chairman Bernanke’s testimony before Congress on Wednesday. Daily chart is mixed as MACD is bullish; but stochastics has turned bearish at overbought, inside-day-range pattern was completed on Monday. […]
We talked about consolidation of the pair within the price range 1.2950 -1.3240 and the importance of breakout off this zone for the liberation of the pair. Breakdown of the most prominent support zone around 1.2950 revived a “Double-Top” pattern on the daily chart that has final target at 1.2680. EUR bears are being interrupted at […]
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 1.5160. Previous consolidation range above 1.5200 was broken down, breaking the lower limit of the ascending channel as well then we had daily closure […]
Support level around 1.0016-0.9995 (61.8% Fibonacci) provided evident bullish steam for the pair to step above 1.0300 topping at 1.0311. 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 […]
