The Australian dollar strengthened against most of its peers after a jobs report on Thursday showed the number of created in April surpassed expectations by a lot. According to the Australian Bureau of Statistics, 50,100 more positions were added by Australian employers last month, which was much more than the 11,000 positions that were forecast […]
The aussie was the biggest mover in Thursday’s Asian session after domestic jobs data. The Australian economy added more jobs than forecast in April, as employers hired 50,100 more people, versus the expected 11,000. The increase in jobs positions helped push down the unemployment rate fell to 5.5 percent from 5.6 percent in the previous […]
The euro rallied on the better-than-expected German industrial production data, which comes just a day after strong German factory orders data. Industrial output recorded the biggest jump in 12 months and rose 1.2 percent in March despite expectations for a 0.1 percent decline. EURUSD extended gains in the US session and hit a high of […]
This morning during the American session the euro has been trading around daily fractal 1.3160. Given that this pair is being favored due to euphoric climate prevailing in the major world’s exchanges, which is carrying investors to take risk, the euro at the start of the European session exceeded the level of 1.31, boosted […]
Overview: USD/JPY is trading in lower range. The rate is undermined by profit-taking on short-yen positions–market participants turning wary that the anti-yen trade is getting overcrowded. USD sentiment was dented after U.S. IBD/TIPP Economic Optimism Index had declined 2.4% to 45.1 in May from 46.2 in April as consumers grew more pessimistic about the economy, […]
Overview: USD/CHF is consolidating with bearish bias after hitting one-week high of 0.9436 on Tuesday. The rate is underpinned by CHF sales on buoyant EUR/CHF cross; smaller-than-expected rise in 2Q Swiss Consumer Sentiment Index to minus 5 from minus 6 in 1Q (vs. forecast of minus 3). But CHF sentiment is soothed by improvement in […]
Overview: NZD/USD is consolidating with bearish bias after hitting two-week low of 0.8421 on Tuesday. The rate is undermined by contagion from weak Aussie; softer commodity prices. But NZD/USD losses tempered by NZD-USD yield gap; positive global risk sentiment. The Kiwi is vulnerable to China April trade balance data. Daily chart is negative-biased as MACD […]
The British pound will be more attenuated in its rise, and while it moves, as we have pointed several times, within a bullish channel on the daily charts. But in the medium and long term it is preparing for a fall to the level of 1.5280, the pound today is making a pullback to the […]
The Australian dollar fell yesterday because of the interest rate cut by the Reserve Bank of Australia, leaving it at 2.75%. The Aussie reached a minimum of March and a break below 1.0115, at least that date it extended its losses to values of July 2012. On the technical level we see that the […]
Today’s Support and Resistance levels: R3: 1.5855 R2: 1.5773 R1: 1.5734 Current Spot: 1.5664 S1: 1.5599 S2: 1.5540 S3: 1.5498 Technical overview: This cross seems to have finally come to live. We are still looking for a major rally over the coming weeks/months and even years. Let us zoom in on the shorter time frame. […]
EURUSD: So far this week, it could be said that the EURUSD pair has moved in a range. Right now the price is consolidating, though the bulls are making effort to push the price upwards. One needs to stay aside until a clearer direction is seen. USDCHF: The bullish signal on the USDCHF pair is […]
The euro received a boost in the European Session after surprisingly better German industrial production data, which eased concerns over the impact the euro zone’s debt crisis is having on the region’s largest economy. March industrial production rose by a seasonally adjusted 1.2 percent, despite expectations for a decline of 0.1 percent. Germany is seen […]
Overview: The market is continuing to show the signs of strength following the break of 1.0110 (red horizontal line in the chart). USD/CAD’s support was broken and turned to resistance of yesterday (May 7, 2013). The pair has already formed a strong resistance at the level of 1.0110. So, the market indicates a bearish […]
Overview: The EUR/JPY’s subsequent sharp fall suggests that a decline from 130.80 a month ago had resumed to 126.00 (strong support). The pair has already formed a strong resistance at the level of 130.80 and it is now approaching it in order to test it. Also it should be noted that the price is still […]
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 05, 2024 April 7, 2024 Potential for the further drop on NAS100 ….The material has…Why is gold defying gravity? – Special Report April 7, 2024 Gold […]
USD/CAD Elliott Wave For the last few days, the USD/CAD pair has been trading downwards, impulsive wave (5) (coloured blue) of the bigger wave C (coloured red) has been developing. During the Tuesday’s Asian session we could observe small ascending movement from 1.0064 towards the 1.0082 level. Therefore, during the European and New York sessions […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has continued trading in a bearish mood, just like we expected, impulsive sub-wave 3 (coloured purple) of the bigger wave (3) (coloured green) has been developing. Yesterday, during the Asian and European sessions we could observe strong descending movement from 1.0254 towards the 1.0187 level, […]
EUR/USD Elliott Wave Since our last analyses the EUR/USD pair has been trading upwards, so we changed our primary wave count a little bit. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.3067 towards the 1.3131 level and because of this move we need to look the corrective wave […]
Technical outlook and chart setups: The yellow metal should be targeting lower towards at least 1,400/05 levels as seen here. The rally from 1,300.00 level may be still a correction and a fresh low could be insight. Strong resistance remains at 1,500/20 levels which was weekly support for at least 6 months. It is recommended […]
Technical outlook and chart setups: The metal seems to be breaking down its counter trendline indicating a down extension, possibly towards 22.00 level or even lower. The rally from 22.00 level has been corrective in nature and has stalled at 24.80 level for now. The following implications are possible: 1. The metal could find support […]
Read the Daily Market Report from Dave Evans, Professional Trader Dollar backs off as euro recovers Morning Report: 08.00 London • Last night the S&P 500 set a new closing high, while the FTSE 100 hones in on the 6900 level. With risk appetite returning, safe […]
Rumour has it that the drop of the pound on Tuesday was due to sell of one of the biggest UK banks. This morning BRC Retail Sales Monitor in April has been published. The drop was 2.2% vs. estimates for 1.8% and 1.9% in March. However, neither the figures nor Trade Balance in China that […]
Technical outlook and chart setups: The single currency pair pulled back after printing a high, marginally ahead of 1.4645 level yesterday. Nevertheless, this should not be a concern for bulls at the moment and can be viewed as a retracement before moving towards 1.47 and higher. As seen here, immediate interim support is at 1.44 […]
Technical outlook and chart setups: There is no change in the wave structure as it has been discussed since last few trading sessions. Resistance levels remain fixed at 130.50 and 131.00, while supports are fixed at 127.00 and 125.00 respectively. It seems wave 4 was completed yesterday at 130.50. More implications are for the pair […]
Switzerland consumer price inflation (CPI) remained unchanged last month, confounding expectations for a slight increase, causing the Swiss Franc to fall against most counterparts. According to a report released by the Swiss Federal Statistics Office, CPI in April gave a reading of 0.0 percent, thus being flat for the month, compared to March’s 0.32 percent […]
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Price zone 1.0200 – 1.0235, which corresponded to a downtrend line, was broken through obviously last week. The continuation of flag pattern seems to fail 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 indecision within the same […]
As expected, the weak ongoing bullish structure with integrated swings and broken short-term uptrends lead to price fall that occurred yesterday. 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 […]
The EUR/USD pair has been trading within the consolidation range between 1.2950 and recent high at 1.3240. The consolidation of 1.2950 and continuation to trading above enhances the bullish bias for the pair towards 1.3240 and the possibility to extend to 1.3340-1.3400 levels before returning again to resume bearish movement. The lower limit of the […]
Last week, there was a supply zone located around 1.5550-1.5600 corresponding to the upper limit of the depicted bullish channel which expressed bearish rejection on testing. The GBP/USD pair is still trading within the same consolidation range 1.5480-1.5590. However, the cable expressed daily closure below 50% Fibonacci (1.5500) which is an early sign for a […]
