The published yesterday data on March was mixed. Industrial Production in France was worse than expected (-0.9% vs. forecast for -0.2%). French Trade Balance was slightly better than expected (-4.7 billion vs. -5.3 billion). German Factory Orders grew 2.2% vs. forecast for -0.4%. US Consumer Credit amounted for $8.0 billion vs. $16.2 billion. As the […]
China trade data released on Wednesday beat forecast and the trade surplus increased by 14.7 per cent in April, up from a previous 10 per cent increase. The $18.2bn surplus is much more than the expected $15. billion predicted. The main driver behind the increase in the trade balance was a surge in export numbers. […]
Overview From today’s H4 chart, the metal took an upward move yesterday after its rebound from the upward trendline as shown but rapidly silver hits the Resistance level 23.90. Currently silver is testing it and trying to break it through to continue its bullish move. In this case we might get more opportunities for buy […]
Overview: GBP/JPY is trading in lower range. The rate is undermined by weak USD/JPY tone as market participants unwind short-yen positions; Japan exporter sales. But GBP/JPY losses tempered by demand from Japan importers; Bank of Japan’s aggressive easing measures to help reach its 2% inflation target. Daily chart is mixed as five-day moving average is […]
Market sentiment was only briefly lifted in the Asian session after upbeat China data on Wednesday. China’s April trade report was better than expected. Both imports and exports rose more than estimated and the headline surplus was also above expectations. Euro jumped after the data, moving off 0.19 percent from a low of $1.3071 to […]
RECOMMENDATION: Sell stop (pending order) at 129.49. Stop loss at 129.59. Take profit at 129.35. 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 Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for […]
Overview: As it was expected yesterday, the price’s closing 4H below the support level of 154.00 would give a new opportunity for more bearish signals, today and as shown, the price has already broken 154.00 and now is trading below the support level of 153.20 and closing below this level again may give us more […]
TODAY’s TECHNICAL LEVELS: Breakout buy level: 1.3140. Strong resistance: 1.3132. Original resistance: 1.3119. Inner sell area: 1.3106. Target inner area: 1.3075. Inner buy area: 1.3044. Original support: 1.3031. Strong support: 1.3018. Breakout sell level: 1.3010. DESCRIPTION: Today EUR/USD has support and resistance at 1.3031 and 1.3119. The rate is accompanied by strong support at 1.3018 […]
TODAY’s TECHNICAL LEVELS: Resistance. 3: 99.50. Resistance. 2: 99.31. Resistance. 1: 99.11. Support. 1: 98.87. Support. 2: 98.68. Support. 3: 98.48. DESCRIPTION: Please, pay attention to the levels of support 3 (98.48) and resistance 3 (99.50). Normally, when a level is touched, the USD/JPY will rebound from the previous minimum by 10 to 20 pips, […]
Hence, they hire someone else instead in their behalf to do the nitty-gritty of things. However, how do the parties involved communicate? Of course, the brokers would still be getting instructions from the primary investors. Do the brokers call the investors every single time that they will be making decision? If so, then timing would […]
The US session on Tuesday was quiet in terms of economic data. There were no key releases. The euro reversed gains made against the dollar earlier in the day as further upside was limited due to remarks made by European Central Bank President yesterday. Investors are nervous to push the euro higher amid a prolonged […]
Overview: USD/JPY is trading in higher range. The rate is underpinned by positive dollar sentiment on Friday’s stronger-than-expected U.S. April non-farm payrolls report and on buoyant U.S. stocks overnight (S&P rose 0.19% on Monday to finish at record high of 1617.5); widening USD-JPY interest differential; Bank of Japan’s aggressive easing measures to help reach its […]
Price zone 1.0200 – 1.0235, which corresponded to a downtrend line, has been 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 […]
The GBP/USD pair is still trading within the same consolidation range 1.5480-1.5590. Last week, there was a supply zone located around 1.5550-1.5600 corresponding to the upper limit of the depicted bullish channel. However, no significant bearish rejection has been expressed till now. Although the bullish steam seems to weaken after trading above Fibonacci 50 level, […]
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 may provide a considerable resistance for the pair. This idea is supported by the weak ongoing bullish structure with integrated swings and broken short-term […]
The euro strengthened against most of its major peers, including versus the dollar, yen and pound after being boosted by strong German economic data. According to the German Economy industry on Tuesday, German industrial orders increased in March by 2.2 percent. This was more than the 0.5 percent decrease that was expected. February numbers were […]
NZD/USD: Resistance: 0.8550 (sell below this level). Support: 0.8420 (buy above this level for retesting this level for a short period). Trend: upward on the frame time of H1 – H4 (the trend still calls for a bullish market). Range: 67 pips (daily). […]
Overview: The price is probably going to form a strong support at 0.9340 (below 38.2% of Fibonacci retracement levels on the H1 chart). It has formed the last bearish wave for the last three weeks and the level of 0.9340 acts as a strong support. The saturation is likely to take place around 0.9320 because […]
Overview: USD/CHF is trading in higher range. The rate is underpinned by positive dollar sentiment on Friday’s stronger-than-expected U.S. April non-farm payrolls report and on buoyant U.S. stocks overnight (S&P rose 0.19% on Monday to finish at record high of 1617.5). Daily chart is positive-biased as stochastics is in bullish mode, MACD histogram bars have […]
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 trade 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 […]
Overview: GBP/JPY is trading with risks skewed higher. The rate is supported by firm USD/JPY undertone; 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; weak euro sentiment. Daily chart is mixed as MACD is bearish, but stochastics […]
Overview: Like we expected yesterday, the price’s close below 23.90 will give new opportunities for sell-signals. Currently the metal has already managed to break this level to trade below and open the way towards 23.20 as first target, then the metal must test the Support level 23.00 to get more bearish move till reaching 22.50 […]
The euro jumped 0.4 percent against the dollar immediately after the release of strong German economic data. According to the German Economy industry on Tuesday, German industrial orders increased in March by 2.2 percent. This was more than the 0.5 percent decrease that was expected. February numbers were revised higher to 2.2 percent. Today’s data […]
Overview From the today’s H4 chart, yesterday’s closing below the Resistance level 155.00 gives the price an opportunity for a bearish move. As shown here, currently the price is trying to continue its bearish move by breaking the Support level 154.00 and closing 4h below. In that case we may get another opportunity for more […]
AUD/USD Elliott Wave For the last few days the AUD/USD pair has been trading downwards, impulsive wave 3 (coloured blue) of the bigger wave (C) (coloured green) has been developing. During the Monday’s Asian and European sessions we could observe descending movement from 1.0310 towards the 1.0263 level. Therefore, during the New York session this […]
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 final (5) wave (coloured blue) has been developing. During the Monday’s Asian and European sessions we could observe ascending movement from 1.0071 towards 1.0095 level and we can consider this […]
May 7th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened mixed this morning and continued to consolidate the previous week’s gains, amid caution ahead of first-quarter earnings by some of Europe’s largest banks. Meanwhile, the BRC reported that its shop price inflation index in the UK fell to a three-and-a-half […]
EUR/USD Elliott Wave Since our last analysis the EUR/USD pair has been trading downwards, impulsive wave 3 (coloured blue) of the bigger wave 3 (coloured green) has started its development. Yesterday, during the Asian and European sessions we could observe descending movement from 1.3141 towards the 1.3093 level. Therefore, during the New York session […]
Technical outlook and chart setups: Silver is looking for support around 23.00 level before a possible bounce. Currently the metal is trading at around 23.70/75 levels, expect the metal to dip to 23.00 level soon. A bullish bounce at 23.00 would be recommended to go long. The region is also marked by Fibonacci 0.618 support […]
Technical outlook and chart setups: There is no change at all in the wave structure, as seen here. The single currency pair has once again re-tested the sloping resistance line, in last 2 trading sessions and is back in the sell zone. This test should probably be the last one, before the pair collapses. It […]
