Price zone 1.0200 – 1.0235, which corresponded to a downtrend line, was broken through obviously. 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 […]
Technical outlook and chart setups: The single currency pair has bounced off from the 0.618 Fibonacci support at 24.00 level, after creating lows at 22.00, as seen here on the weekly chart view. But Fibonacci extensions of the down swing is pointing towards 21.50 level before a meaningful bounce can materialize. Furthermore, 20.00 level can […]
Overview: USD/CHF: It should be noted that the price is still trapped between 0.9605 and 0.9525 and that the price has set above strong support level at 0.9500 (0.9498: 100% of Fibonacci retracement levels on H1 chart). These levels coincide between 100% and 161.8% of Fibonacci retracement levels on H1 chart and the pair […]
Technical outlook and chart setups: The weekly chart presented here depicts a possibility of another low below 1,320.00. The Fibonacci extensions of the downswing from 1,900 level to 1,550 are pointing towards an extension of 1,290.00 and 1,300.00. Hence it is recommended to remain short for now with risk at 1,500.00 level. As seen here, […]
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 1.5230-1.5360, breaking the depicted uptrend as well. The pair has its way opened towards 1.5230-1.5200, the lower limit […]
On 11th and 12th May 2013, XEMarkets hosted its third forex seminar in Kuala Lumpur, Malaysia. More than 300 clients registered their seats for the XEMarkets Forex Seminar and Workshop Learn to Earn Intraday Trading held on two consecutive days and in two different locations in Malaysia this month, and presented by the widely celebrated […]
EUR/USD Elliott Wave Since our last analysis the EUR/USD pair has been trading upwards, just like we expected, corrective sub-wave 2 (coloured blue) of the bigger wave (3) (coloured green) has been developing. During the Monday’s Asian and European sessions we could observe descending movement from 1.2295 towards 1.2942 level and we can consider this […]
Technical outlook and chart setups: A simple trend view of Daily chart has been presented here. The single currency pair has begun to show weakness since the last 2 trading sessions. Yesterday a Hanging Man was observed and today’s formation till now presents the same trade signal. This could be an early indicator of a […]
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. At the end of the week, the ascending channel was broken down and the pair returned again to the bottom of the range at 1.2950 to […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading downwards, just like we expected, corrective wave 2 (coloured green) of the bigger wave (A) (coloured blue) has finished its development. Yesterday, during the Asian and European sessions we could observe descending movement from 1.0132 towards 1.0106 level. Therefore, during the New […]
AUD/USD Elliott Wave For the last few week the AUD/USD pair is trading downwards, corrective wave (C) (coloured red) of the bigger wave E (coloured blue) has been developing. Yesterday, during the Asian and Europan sessions we could observe descending movement from 1.0009 towards the 0.9955 level. Therefore, during the New York session this major […]
Technical outlook and chart setups: The single currency pair has bounced off the sloping downtrend line as depicted here. Nevertheless, this can be just considered as a pullback for now and it is recommended to hold long positions towards 1.48 level from here on. Immediate support is at 1.45, followed by 1.44 and lower while […]
Euro reversed losses made after the disappointing German ZEW and bounced 40 pips to a high of $1.3027 after better-than-expected euro zone industrial production data as well as a successful Spanish debt auction. The Spanish government treasury sold a total of 4.05 billion of government debt, which is above the full targeted amount of EUR4 […]
May 14th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets are firmer this morning thanks to overnight strength in the Asian session with Japan’s market gaining for a second consecutive day. US stocks fell yesterday but retail sales data beat expectations, propping up Asian markets overnight too. The yen rallied from lows […]
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 data on Industrial Production in China in April was slightly lower than forecast, 9.3% vs. 9.4%. Figures of Retail Sales in China were in line with the estimates, 12.8%. Data on US Retail Sales Ex-Auto was in line with estimates as well, -0.1%; US Retail Sales grew 0.1% vs. forecast expectations for -0.3%. However, […]
Read the Daily Market Report from Dave Evans, Professional Trader Markets rise on US economic hopes Morning Report: 08.00 London • This morning, markets are optimistic that the US economy has enough resilience to grow its way out of tough economic times. With China cooling off, […]
Yesterday the pound preferred bearish scenario. By the end of the day it lost 57 points. Significant macroeconomic data on the UK will be published tomorrow (Claimant Count Change, Claimant Count Rate). Today a technical correction to the area 1.5367-1.5384, depicted on the H4, is expected. Technically, the correction may be depicted by the rebound […]
Tuesday’s Asian session saw the dollar being knocked off multi-year highs against the yen as the recent sharp rally prompted investors to take profit, and await more US economic data later today. Any positive data will give even more reason for the Federal Reserve to taper off quantitative easing. Monday’s strong US retail sales data […]
TODAY’s TECHNICAL LEVELS: Resistance 3: 102.03. Resistance 2: 101.84. Resistance 1: 101.64. Support 1: 101.39. Support 2: 101.19. Support 3: 100.99. DESCRIPTION: Please, pay attention to the levels of support 3 (100.99) and resistance 3 (102.03). 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: 1.3048. Strong resistance: 1.3041. Original resistance: 1.3028. Inner sell area: 1.3015. Target inner area: 1.2985. Inner buy area: 1.2955. Original support: 1.2942. Strong support: 1.2929. Breakout sell level: 1.2922. DESCRIPTION: Today EUR/USD has support and resistance at 1.2942 and 1.3028. The rate is accompanied by strong support at 1.2929 […]
Today’s support and resistance levels: R3: 133.54 R2: 132.95 R1: 132.40 Current spot: 132.20 S1: 131.84 S2: 131.57 S3: 131.29 Technical overview: We are still headed for resistance near 133.59 in the short term, where we will likely find the top of wave iii of 5 and after a brief correction in wave iv down […]
Today’s support and resistance levels: R3: 1.5834 R2: 1.5773 R1: 1.5742 Current spot: 1.5709 S1: 1.5680 S2: 1.5648 S3: 1.5600 Technical overview: Red wave iii of iii is progressing nicely, but we would still like to see some real acceleration through the base channel resistance line to confirm that wave iii will extend. In the […]
RECOMMENDATION: Sell stop (pending order) at 131.74. Stop loss at 131.84. Take profit at 131.60. Alternative: Buy stop (pending order) at 132.51. Stop loss at 132.41. Take profit at 132.65. 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 […]
The US dollar got a further boost after upbeat US data on Monday which showed retail sales surprisingly defied forecasts for a decline and rose a seasonally adjusted 0.1 percent in April. Meanwhile, helping support the dollar is expectation that the Federal Reserve will wind down its monetary stimulus measures. An exit by the Fed […]
Overview From the today’s H4 chart, the metal is still trading below the Resistance level 23.90 and above the upward trendline as shown. Currently silver is testing it. So we should wait for closing 4H below the upward trendline to create a new bearish opportunities. In that case the metal might open its way towards […]
The Australian dollar is trading below the weekly pivot 1.0099. It is likely that below this area, it is still pressed by downward force to support level 0.9885. Therefore, we recommend selling the pair only if it is approaching the weekly pivot and we place stop loss some points above R1, since at the 1.0250 […]
Overview: GBP/JPY is consolidating with bullish bias after hitting three-year high of 132.26 on Friday. The rate is buoyed by weak yen sentiment on Bank of Japan’s aggressive easing measures to help reach its 2% inflation target; euro demand from Japan importers. But GBP/JPY gains tempered by Japan exporter sales. Daily chart is positive-biased as […]
Overview As shown on the today’s H4 chart, this week the pair has opened inside a bullish channel. Below the downward trendline, which means the pair will almost reverse its bullish move this week, it takes a downward move. Today the pair has already started its downward move after it had hit the Resistance level […]
Overview: USD/JPY is consolidating with bullish bias after hitting four-year high of 102.05 this morning. The rate is underpinned by positive dollar sentiment on Wall Street Journal article that Federal Reserve officials have mapped out a strategy for winding down the Fed’s $85 billion-a-month bond-buying stimulus program–in careful and potentially halting steps, varying their purchases […]
