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 […]
Today’s support and resistance levels: R3: 133.59 R2: 132.77 R1: 132.38 Current spot: 132.18 S1: 131.98 S2: 131.53 S3: 131.05 Technical overview: After one last decline in minor wave four of iii down to 131.53 we saw the expected rally higher through resistance at 132.40. We are now in wave five of iii of 5 […]
TODAY’s TECHNICAL LEVELS: Breakout buy level: 1.2999. Strong resistance: 1.2992. Original resistance: 1.2979. Inner sell area: 1.2966. Target inner area: 1.2936. Inner buy area: 1.2906. Original support: 1.2893. Strong support: 1.2880. Breakout sell level: 1.2873. DESCRIPTION: Today EUR/USD has support and resistance at 1.2893 and 1.2979. The rate is accompanied by strong support at 1.2880 […]
RECOMMENDATION: Sell stop (pending order) at 131.99. Stop loss at 132.09. Take profit at 131.85. Alternative: Buy stop (pending order) at 132.26. Stop loss at 132.16. Take profit at 132.40. 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: Like it was expected yesterday, the metal will continue its downward move in case of breaking the upward trend line. Today and as shown the metal already broke the it and currently is trading below. Presently the pair is approaching the support level 23.00. If the metal manages to break this support level and […]
Overview: Like it was expected yesterday, the metal will continue its downward move in case of breaking the upward trend line. Today and as shown the metal already broke the it and currently is trading below. Presently the pair is approaching the support level 23.00. If the metal manages to break this level and closes […]
The dollar was on a roll again in Tuesday’s US session after a brief pause in its strong rally earlier in the day. The greenback broke above the key 102.00 yen propelled by rising US equity markets and overall upbeat mood in financial markets. Helping support the dollar were comments today by the Federal Reserve’s […]
EURUSD: The pair continues to be caught in a bearish zone, though the major bias right now is bearish and it is supposed to continue like that – irrespective of the current volatility on the market. The indicators point to the weakness of this pair, and as a result, the price may go on to […]
German investor confidence was weaker in May according to a survey conducted by the ZEW Center for European Economic Research in Mannheim, Germany. The closely watched index is compiled by asking around 275 German institutional investors, to give their outlook for the next 6 months on Germany, and this index rose less-than-expected this month to […]
The British pound falls hard in these hours because an inflation report is released on Wednesday and it is speculated that present negative signs, driving away the possibility that the BoE will increase interest rates and, in turn, can cut them in the near future. Technically, this pair approaches the daily fractal support 1.5212 […]
This morning in the American session the euro has been falling after the German ZEW index data. It seeks new lows at 1.2930, key support area, with its break it would accelerate its low for the rest of the day. The daily fractal of 1.2878 will be the next support for the pair if the […]
Overview Like it was expected yesterday, the metal will continue its downward move in case of breaking the upward trendline. Today the metal has already broken it and currently it is trading below. Presently the pair is approaching the Support level 23.00. If the metal manages to break this Support level and closes 4H below […]
The euro turned lower against the dollar after being weighed down by disappointing German confidence data on Tuesday. The ZEW index missed expectations and increased less-than-forecast to 36.4 from 36.3 in April. The data caused some concerns to investors who fear that the euro zone debt crisis may have risks to Germany. The euro only […]
Overview Like it was expected yesterday, as long as the price is reading inside its bullish channel and below its upper limit so the bearish move would be expected. Today and as shown from the today’s H4 chart the pair already took a bearish move and also managed to break the Support level 155.80 yesterday. […]
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 descending movement is likely to begin […]
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 […]
