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RECOMMENDATION: Sell stop (pending order) at 131.24. Stop loss at 131.34. Take profit at 131.10. 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:  The EUR/JPY’s subsequent sharp fall suggests that a decline from 132.10 yesterday had resumed to 130.00 (strong support). The pair has already formed a strong resistance at the level of 132.80 and it is now approaching it in order to test it. Also it should be noted that the price is still trapped between […]

The US dollar remains relentless and continues to gain strength across the board on Wednesday, even after weak US economic data on New York State’s manufacturing sector. The New York trading session was upbeat, helping the dollar strength, and the Dow Jones and S&P closed at record highs. The ICE dollar index which measures the […]

The UK economy may have some ray of hope for some growth in coming months, based on the Bank of England’s projections. BOE Governor Mervyn King presented his economic forecasts today with the releases of the bank’s quarterly inflation report, predicting that the UK economy will grow at a faster pace while inflation will be […]

The euro fell to the weakest level in six weeks against the dollar on Wednesday, after being weighed down by disappointing euro zone growth data which renewed fears about the euro zone debt crisis. The weak data will give the European Central Bank more reason to need to cut interest rates again in order to […]

Overview As it was expected yesterday, the metal would continue its downward direction after it managed to break the downward trendline yesterday. Today and as shown from the H4 chart the metal is trading below the Support level 23.00 which gives us more bearish signals after closing the current H4 candle below it. In that […]

Overview Today and as shown from the H4 chart, the pair took an upward move after its rebound from the lower limit of its bullish channel. Currently the pair is testing the strong Resistance area of the upward trend line with the Resistance level 155.80 which means that downward move would be expected. Therefore, we […]

The weak bullish structure with integrated swings led to price fall that took place on last week during both Thursday and Friday after the upper limit of the movement channel 1.5590-1.5600 provided a considerable resistance for the pair.   The GBP/USD pair broke down Important support level 50% Fibonacci which came to meet the pair […]

Last week, 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 also revives a “Double-Top” pattern on the daily chart that has final target at 1.2680.   The way […]

Overview: USD/JPY is consolidating with bullish bias after hitting four-and-a-half-year high of 102.44 on Tuesday. The rate is underpinned by positive dollar sentiment on strong U.S. equities (S&P powered to record high of 1651.1 overnight before closing up 1.01% at 1650.34); brighter U.S. fiscal outlook after Congressional Budget Office said U.S. federal deficit is expected […]

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 especially on Friday. The cable came again inside previous consolidation range between 1.5200-1.5360, breaking the lower limit of the ascending channel as well. As expected yesterday, the pair had its […]

The Flag pattern failed to reverse price to the upside on retesting due to the strong bearish pressure which pushed the pair again inside the channel below 1.0100. Daily closure below 1.0085 (50.0% Fibonacci), that took place on Friday, opened the way towards the next support level around 1.0016-0.9995 (61.8% Fibonacci) which provided a BUY […]

Technical outlook and chart setups: The metal has finally broke down below 23.00 level today. It is recommended to book partial profits on short positions taken and hold on to the remaining. Looking into the wave structure as depicted here, if the metal produces a bullish reversal bounce from here, and rally past 24.00 level […]

Technical outlook and chart setups: The metal is finally breaking down after several days of range trading. Past support of the range was at 1,440.00 level which is now immediate resistance, followed by 1,487/88, 1,500/20 and higher up. As depicted here, the Fibonacci extensions are extending towards 1,380 and 1,360 for the downswing from here […]

EURUSD: This is a weak market and the bearish trend is highly vivid. The indicators on the 4-hour chart confirm this Bearish Trend Pattern. Even if there is any bullish retracement, it would be a nice opportunity for sellers to sell dearer. Short trades are still preferred here, and the price could reach the support […]

Technical outlook and chart setups: A daily chart view has been depicted here with trendline view. The inner trendline support is just around 131.00. Candlestick support is at 129.50, followed by 127.00, 125.00 and lower. Looking into chart patterns, the single currency pair is showing signs of a potential reversal or atleast a meaningful retracement […]

History will repeat itself again   Trading recommendations: According to the previous events the price is expected to remain between 0.8283 and 0.8222 levels. Buy-deals are recommended above 0.8160 (strong support) with the first target seen at 0.8210. The movement is likely to resume to the point 0.8280 and further to the point 0.8310.  The […]

Forecast: According to the previous events, the price has still been trapped between 1.0185 (78% of Fibonacci retracement levels) and 0.9987 (50% of Fibonacci retracement levels).  The support sets at the level of 0.9900, therefore the bulls are going to buy above 0.9900 with a first target of 1.0100, it might resume to 1.0185.  Double […]

Technical outlook and chart setups: The single currency pair has raised through the sloping downtrend line as expected, and finally hit 1.4800 level as well, as seen here. It is recommended to book profits for now and await for further directional move. Believe it or not, considering the momentum breakout, it remains quite possible for […]

EUR/USD Elliott Wave    For the last few days the EUR/USD pair is trading downwards, impulsive wave 3 (coloured blue) of the bigger wave (3) (coloured green) has started developing. During the Tuesday’s Asian session we could observe ascending movement from 1.2974 towards 1.3027 level and we can consider this move as the end of […]

AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has continued to trade downwards, and our wave count is showing that we are currently at the end of the sub-wave 3 (coloured green) of the bigger wave (C) (coloured red). Yesterday, during the early Asian session we could observe small ascending movement from 0.9952 […]

USD/CAD Elliott Wave  Since our last analysis the USD/CAD pair has been trading upwards, impulsive sub-wave 1 (coloured red) of the bigger wave 3 (coloured green) has finished its development. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.0091 towards the 1.0139 level. Therefore, during the New York session this […]

May 15th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European financial markets have a had a reality check with data out so far this morning. Euro zone GDP contracted by 0.2% on the quarter in Q1, below consensus for a contraction of 0.1%. Germany narrowly avoided a recession but France slipped firmly into […]

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:Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April 18, 2024 We introduce you to the daily updated section of Forex…Video market update for April 18, 2024 April 18, 2024 Potential […]

Yesterday the British pound amid lack of relevant macroeconomic news followed the descending move of all the currency pairs having USD. Today is a very important day for the pound. At 12:30 GMT+4 data on Claimant Count Change and Claimant Count Rate is published. UK Claimant Count Change may drop 3.1K vs. -7K in March. […]

Major economic events issued yesterday in Europe were not bad on the whole. Industrial Production in the eurozone in March grew 1.0% vs. estimates for 0.6%. ZEW Survey (Economic Sentiment) in the eurozone in May was 27.6 (forecast 27.3), ZEW Economic Sentiment in Germany in May was 36.4 (forecast 39.5, however, it was better than […]

              Read the Daily Market Report from Dave Evans, Professional Trader     Euro slumps on German GDP shock Morning Report: 08.00 London • This morning, the euro has continued its sell off after first French, then German GDP Came in below analyst’s estimates. French GDP dropped by 0.2% […]

Today’s Support and Resistance levels: R3: 1.5860 R2: 1.5814 R1: 1.5767 Current spot: 1.5738 S1: 1.5736 S2: 1.5718 S3: 1.5704 Technical overview: We keep making new highs, but we still lack the acceleration, that we would normally expect in wave three. We still think that once the real momentum in the ongoing wave iii is […]

TODAY’S  TECHNICAL  LEVELS: Resistance 3: 102.70. Resistance 2: 102.50. Resistance 1: 102.30. Support 1: 102.04. Support 2: 101.84. Support 3: 101.64.   DESCRIPTION: Please pay attention to the levels of support 3 (101.64) and resistance 3 (102.70). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, […]

Markets were quiet in the Asian session on Wednesday as there was little on the economic calendar and lack of news to act as a catalyst for any major moves. Most currencies consolidated around previous levels. The dollar maintained its strength after getting another boost in yesterday’s US Session, on speculation that the US Federal […]