UK GDP was published yesterday. Britain’s economy avoided a triple- dip recession in the first quarter with expansion that exceeded specialists’ forecasts. GDP grew 0.3% in the first quarter, while the expectations were for a 0.1% rise. Today at 16:30 GMT+4 US GDP in the first quarter is published, forecast 3.0%-3.1% vs. 0.4% in the […]
Yesterday during the first half of the day the euro strengthened amid the positive on the market. However, when the US trading session was opened, the rate pulled back. The reason was strong data on US Unemployment Claims (339K vs. forecast for 352K). However, the main reasons of increased demand for US dollars are new […]
The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 1.3080 suggesting a decline. However, a break of these levels will allow it to reach the upper limit of its channel at 1.3140. Technical indicators do not provide clear signals but until the resistance is not broken the assumption of a decline is most likely. […]
Today’s Support and Resistance levels: S1: 1.5264 R1: 1.5314 S2: 1.5235 R2: 1.5369 S3: 1.5188 R3: 1.5409 Technical overview: We have seen a small break below support, which does open the possibility for a slightly deeper decline […]
The spot rate approaches the upper limit of its medium-term bullish channel at 1.5530 suggesting a decline. However, a break of this level will initiate a more violent bullish channel. Technical indicators provide buy signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized […]
Today’s Support and Resistance levels: S1: 127.85 R1: 128.81 S2: 127.54 R2: 129.39 S3: 127.12 R3: 129.91 Technical overview: It is still undecided whether we are in a triangle consolidation or we have seen the final top […]
The spot rate is currently testing the intermediate support of its medium term bearish channel at 128.40 suggesting a rebound. However, a break of these levels will free a large potential and reach the lower limit of its channel at 127.20. Technical indicators provide sell signals but until the support is not broken the assumption […]
Gold approaches the upper limit of its medium-term bullish channel at 1,490 suggesting a decline. However, a break of this level will initiate a more violent bullish channel. Technical indicators provide sell signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as […]
The yen rose after the Bank of Japan policy meeting on Friday, when a unanimous decision was made to keep policy unchanged. The central bank also maintained a pledge to double Japan’s monetary base in two years. Meanwhile the BOJ’s policy statement was short. This may have disappointed some investors who were expecting more from […]
“There are many different forms of technical analysis. A completed Elliott wave pattern supported by additional evidence allows for more confident forecasts and higher probability trades.” -Jeffrey Kennedy Trader and technical analyst Jeffrey Kennedy has more than 25 years of experience using with the Elliott Wave Principle. To support his Elliott wave analysis, Jeffrey says […]
The dollar traded higher against the euro and yen in the US session on Thursday, recovering losses made earlier in the day. Helping boost the dollar was data that showed the number of Americans filing initial claims for unemployment benefits fell last week. The improved jobs data gave some optimism to markets that the US […]
Technically, on the daily chart the cable has confirmed a rising wedge continuation pattern with daily closure above 1.5260 which has a projection target around 1.5490. Today the pair is meeting a significant supply zone located between 1.5460-1.5500 which comes to meet 100-day SMA on the daily chart. Hence, it is a zone of […]
Technically, on the depicted chart the EUR/USD pair has confirmed a reversal Head and Shoulders pattern around 1.3190 which has its neck-line located around 1.3000. Confirmation took place on April 23, when the pair made obvious 4H closure below 1.3000 which was supported by S1 around 1.2970. It pushed the EUR/USD pair again above […]
Overview The H4 chart demonstrates today that silver is starting to take a slightly upward movement and currently is testing the Resistance level 23.90. Given that, silver bounces from that Resistance level to close 4H below it. It provides a good opportunity to sell till reaching the Support level 23.00 after closing 4H below it. […]
Overview: NZD/USD is trading in higher range. New Zealand markets are shut today for Anzac Day. NZD/USD is supported by weaker USD sentiment; firmer commodity prices; Kiwi demand on soft AUD/NZD cross and on buoyant NZD/JPY as weak yen sentiment supports the Kiwi/yen cross; NZD-USD yield gap. Daily chart is mixed as MACD is […]
The euro during the European session managed to have a bullish momentum reaching the level of 1.3092, strong resistance level. This morning and during the American session the pair made recoil and right now is trading at 1.3032. It is likely to fall to the 1.2990 zone. At this level we recommend buying the pair […]
Overview: GBP/JPY is trading in higher range. The rate is supported by weak yen sentiment on Bank of Japan’s aggressive easing measures to help reach its 2% inflation target in two years; demand from Japan importers. But GBP/JPY gains tempered by Japan exporter sales. Daily chart is positive-biased as MACD and stochastics are bullish, although […]
Overview: USD/JPY is trading in higher range. Liquidity thin in early Asian trading as Australia and New Zealand’s markets shut on Thursday for holiday. USD/JPY is supported by negative yen sentiment on Bank of Japan’s aggressive easing measures to help reach its 2% inflation target in two years; demand from Japan importers and investment trusts. […]
Overview: USD/CHF is consolidating with bearish bias after hitting three-week high of 0.9498 on Wednesday. The rate is supported by speculation that Swiss National Bank might move its euro/Swissie floor up to 1.2500 from 1.2000. But USD/CHF gains tempered by CHF demand on buoyant CHF/JPY as weak yen sentiment supports the cross; weaker USD […]
Price zone 1.0200 – 1.0235 which corresponded to a downtrend line has been broken through obviously last week. There is a continuation of flag pattern confirmed with daily closure above 1.0210 to have final target at 1.0400. However, it is important to note that signs of lack of bullish steam seem to exist this […]
Sterling was the biggest mover today, rising by over 1 percent against the dollar after better-than-expected UK growth data on Thursday. GDP rose 0.3 percent in the first quarter after contracting by 0.3 percent quarter-on-quarter in late 2012, giving investors a sigh of relief that the UK economy avoided a triple-dip recession. GBPUSD jumped from […]
Price Level 1.5360, corresponding to April 5 high, provided considerable intraday resistance which expressed significant bearish price action leading back again to 1.5230. As it was suggested last week, price level 1.5230 stood as an Intraday Support Level. It provided a BUY entry yesterday which is running in profit now. Stabilization above 1.5370 cancelled […]
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 11, 2024 April 11, 2024 Potential for the further rally on USD/JPYThe material has been…GBP/USD. April 11th. The US inflation report shocked the… April 11, 2024 […]
April 25th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened mostly mixed this morning, as investors took a breather following strong gains made in the past two sessions and ahead of a busy day for company earnings. Meanwhile, ahead of the release of the first quarter UK GDP, majority of […]
Overview: The EURUSD’s support had been broken and it was turned to resistance around the price of 1.3090 yesterday. Therefore, the pair has already formed a strong resistance at 1.3090. Moreover, after it could close above 1.3100 and the pair started signing for bullish market, it should also be note that the price has still […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has been trading upwards, just like we expected, corrective wave A (coloured blue) of the bigger wave (B) (coloured green) has been developing. Yesterday, during the Asian session we could observe descending movement from.0275 towards the 1.0231 level. Therefore, during the Europe and New York […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading side-ways, corrective wave 2 (coloured green) of the bigger wave (3) (coloured blue) has finished its development. During the Wednesday’s European session we could observe descending movement from 1.0271 towards the 1.0253 level. Therefore, during the early New York session this currency […]
Sterling rose by over 1 percent against the dollar after better-than-expected UK growth data on Thursday. GDP rose 0.3 percent in the first quarter after contracting by 0.3 percent quarter-on-quarter in late 2012, according to a report by the UK Office for National Statistics. The upbeat data gave investors a sigh of relief that the […]
Yesterday CBI retail sales volume balance in the UK in April was -1 vs. expectations for a rise of 7. BBA Loans for House Purchase in March was in line with forecasts, 31.2K. The pound did not drop as Bank of England will extend by one year its plan to provide cheaper loans to companies […]
Major macroeconomic events published yesterday were worse than forecasts. Ifo Business Climate index in April was 104.4 vs. forecast for 106.4. US Durable goods orders in March dropped 5.7% vs. forecast for a drop for 2.8. US Durable goods orders excluding transportation fell 1.4% vs. expected growth for 0.5%. This was the main reason the […]
