This morning the British pound fell after the monetary policy announcement of the Bank of England, although it gave a little boost that could not break the 1.56 area. Again, as we were saying these days, this pair has trouble trading above this level. Taking this into account, perhaps now we can go short, or […]
Overview: The USD/JPY is to trade in higher range. Buoyed by yen-funded carry trades amid positive global risk sentiment (S&P rose 0.41% overnight to finish at 1632.69, hitting all-time high for fifth-consecutive trading session) in wake of China’s robust trade balance data, strong German industrial production report, and investor confidence over continued stimulus from world’s […]
Overview: The GBP/JPY is to trade in higher range. Buoyed by positive global risk sentiment; Bank of Japan’s aggressive easing measures to help reach its 2% inflation target; demand from Japan importers. But GBP/JPY gains tempered by Japan exporter sales. Daily chart mixed as bullish outside-day-range pattern completed Wednesday, five-day moving average above 15-day MA […]
Overview: The USD/CHF is to trade in higher range. Financial markets in Switzerland shut today for Ascension Day. The USD/CHF undermined by CHF demand on retreating EUR/CHF cross, and on buoyant the CHF/JPY cross amid positive global risk sentiment. Daily chart mixed as the MACD bullish, but stochastics turning bearish. Trading recommendations: The pair is […]
Sterling extended gains after the Bank of England left the benchmark interest rate on hold at 0.5 percent. Prior to the announcement, the pound was already up against the dollar after being lifted by strong UK manufacturing and industrial production data, which both rose more than expected. After the economic data, sterling jumped to $1.5585 […]
The main focus of the day was the Bank of England policy announcement, and most investors trading the British pound, lifting it to $1.5585. As expected, the BoE left the benchmark interest rate on hold at 0.5 percent, where it has been for the past 4 years. The asset purchase facility was also maintained at […]
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 […]
Overview As it was expected yesterday, the metal almost might take an upward move due to the upward trend line. Today and as shown for the H4 chart, the metal took a slightly upward move after it has bounced from the upward line and it managed to close 4H above the resistance level 23.90 as […]
Weekly pivot point: 1.5548. GBP/USD: Resistance:1.5630 (sell below this level). Support: 1.5500 (buy above this level for retesting this level for a short period). Trading recommendations: According to the previous events, the price is still between the levels of 1.5580 and 1.5610. The descending movement will probably be lower than the 1.5630 level with […]
The GBP/USD pair is still trading within the same consolidation range 1.5480-1.5590 which was established after the previous breakout that took place of April 25. As long as supply zone located around 1.5550-1.5600 (the upper limit of the depicted bullish channel and 50% Fibonacci level) is still intact, the cable remains bearish in the short-term […]
Overview As shown the pair is still trading between the support level 153.20 and the resistance level 154.00 after it failed again to break the support level and currently is approaching the resistance level 154.00, so we should wait for testing this level and closing 4H above. In this case we will get a good […]
The view for NZD/USD is intact. Trading recommendations: According to the previous events the price is expected to remain between 0.8480 and 0.8433 levels. Buy-deals are recommended above 0.8380 (strong support) with the first target seen at 0.8420 The movement is likely to resume to the point 0.8488 and further to the point 0.8525. The […]
Overview: NZD/USD is to consolidate after hitting one-month low of 0.8357 Wednesday. Kiwi sentiment hurt after Reserve Bank of New Zealand Gov. Wheeler revealed to a parliamentary committee that the central bank had intervened in the foreign exchange market to try to pare down the Kiwi’s strength-the first time the Reserve Bank had publicly admitted […]
The EUR/USD pair has been trading within the consolidation range between 1.2950 and recent high at 1.3240. Steadiness of 1.2950-1.3000 and continuation to trade above enhances the bullish bias for the pair towards 1.3240 and the possibility to extend to 1.335 levels before returning again to resume bearish movement. The lower limit of the depicted […]
Technical outlook and chart setups: The white metal is bouncing off within the cone structure presented here. At the moment it is testing the upper boundary at 24.10/15 levels and a reaction is expected lower from here. A break below 23.50 would shift focus lower towards 23.00 atleast. It is recommended to remain short from […]
Technical outlook and chart settings: There is no change in the wave structure as depicted on the chart view here. This currency pair has again tested resistance at 130.00/50 levels yesterday during New York session, and is falling back in the sell zone at the moment. Today’s move could bring the end of wave 4 and […]
EUR/USD Elliott wave For the last few days the EUR/USD pair has been trading upwards, corrective wave Y (coloured blue) of the bigger wave (2) (coloured green) has finished developing. Yesterday, during the Asian and European session we could observe ascending movement from 1.3071 towards the 1.3146 level.Therefore, during the New York session this […]
AUD/USD Elliott wave Since our last analysis the AUD/USD pair has been trading higher, so we changed our primary wave count. Yesterday, during the Asian and European session we could observe ascending movement from 1.0154 towards the 1.0207 level and we can consider this move as the end of the wave 1 (coloured blue) of the bigger […]
USD/CAD Elliott wave Since our last analysis the USD/CAD pair has continued trading lower, just as we expected, impulsive wave 3 (coloured green) of the bigger wave (5) (coloured blue). During the Wednesday’s Asian session we could observe ascending movement from 1.0040 towards the 1.0057 level. Therefore, during the European and New York session this […]
Technical outlook and chart settings: The yellow metal is clearly in a sideways trading range as shown in the chart view here. It is within the 1570/80 resistance zone and 1530/40 support zone as blue lines show on the chart. A move lower is favoured, though making a strong statement in a sideways market is […]
Technical outlook and chart settings: This currency pair seems to run up through 1.47 and probably even higher, according to chart view presented here. The line in the sand is 1.44; that should hold for now. Resistance is at 1.47 (this was past support zone), followed by 1.5 and 1.51; while support is 1.44, followed […]
Sterling jumped against the dollar after better-than-expected manufacturing data which gives signs that the UK economy is on the mend. The upbeat data will make it unlikely that the Bank of England will change current monetary policy and will leave interest rates unchanged. The Bank of England ends a two-day policy meeting today and is […]
Price zone 1.0200 – 1.0235, which corresponded to a downtrend line, was broken through obviously. The continuation of 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. Bearish rejection around 1.0300 was followed by multiple days of […]
As expected, the weak ongoing bullish structure with integrated swings and broken short-term uptrend lead to price fall that occurred on Tuesday. The long-term view remains bullish as long as the pair continues to consolidate within the depicted daily bullish channel above 1.5370-1.5400. However, the upper limit of the movement channel 1.5590-1.5600 provided a considerable […]
May 9th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Stock markets are pausing for breath today after racking up fat gains over the past few sessions which has seen the DAX in Germany print new all time highs, the FTSE100 in the UK edging closer to the 6600 level, not too far off […]
EUR/USD: After some period of the early week consolidation, this pair has now defined its next journey. The Williams’ % Range is in the overbought region and the EMAs also support bullish scenario validity. There is a bullish signal in the market and the price could go towards the resistance line at 1.3200. USD/CHF: Disappointingly, […]
Today’s support and resistance levels: R3: 1.5717 R2: 1.5658 R1: 1.5593 Current spot: 1.5546 S1: 1.5518 S2: 1.5463 S3: 1.5426 Technical overview: We are a bit surprised to see the rather big correction from the 1.5717 high, but that said, we are still bullish due to the break out of the falling channel and the […]
We are proud to announce that XEMarkets Director Pambos Panayiotou will be holding a lecture at the Stock Exchange Conference in Ljubljana, Slovenia, due to be held on 14-15 May 2013. The 30th Financial Conference, hosted by the Ljubljana Stock Exchange, is a major event in the Slovenian capital every year, featuring financial experts of […]
Read the Daily Market Report from Dave Evans, Professional Trader Aussie pushes higher after employment data Morning Report: 08.00 London • After another set of new highs for US stock markets last night, the Australian and New Zealand dollars are leading markets higher after stronger than […]
Today’s support and resistance levels: R3: 131.62 R2: 131.12 R1: 130.37 Current Spot: 129.84 S1: 129.72 S2: 129.32 S3: 128.98 Technical overview: We have seen a test of important resistance at 130.37, but not yet been able to break above this resistance. However, we think that it is just a matter of time before we […]
