Technical outlook and chart settings: As seen here, the metal has retraced as per expectations yesterday and bounced off right from the trendline support (drawn from recent swing lows), around 23.30/35 levels. This region is also re-enforced by the past resistance turned support as seen on the chart. Hence, it is recommended to initiate long […]
Technical outlook and chart settings: The yellow metal has retraced down to 1,440.00 levels yesterday before pulling back. As seen here, support region is spread through 1,430.00, followed by 1,400.00 and 1,380.00; while resistance level is 1,480/85 (intermediary), followed by 1,500/10 levels (major support turned resistance), 1,580/85 and higher. As discussed yesterday, the Gartley extension […]
Technical outlook and chart settings: As seen here, the single currency pair could not manage to rally beyond 129.00 levels yesterday. It is still a possibility that the pair rallies towards 130.00 levels and test resistance sloping line as well, before breaking down. But it is recommended to initiate at least partial short positions at […]
Sterling rose against the dollar after UK construction PMI data showed the building sector returned to growth in April. The sector showed the best performance in six months and gave optimism that construction growth will help improve the UK GDP. The construction industry has been the biggest drag on the country’s economic growth between January […]
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:Is there a possibility of no Fed rate cuts this year? –… April 10, 2024 A summer rate cut by the Fed hangs in the…Forex forecast 04/10/2024: EUR/USD, NZD/USD, USD/CAD and […]
On the daily chart, the EUR/USD pair pursues the continuation of the Flag pattern after the bullish impulse was initiated at 1.2750 on April 4th. A breakthrough above 1.3100 took place on Tuesday which confirmed the pattern to have final projection target at 1.3400. However, an important supply zone is located at 1.3190-1.3200 that was established […]
Technical outlook and chart settings: The structure remains unchanged for now, as depicted here. This currency pair is preparing to rally for now towards at least 1.4500/1.4550 levels. It is therefore recommended to book profits on short positions around 1.4450. Aggressive traders could go long with a reasonable risk/reward ratio; since there remains possibility for […]
Bearish rejection around 1.0300 was followed by multiple days of indecision within the same consolidation range 1.0225 – 1.0330 until the pair gave obvious 4H closure below 1.0250 and 1.0200 that lead to a quick rally towards 1.0150 then 1.0100. Price zone 1.0200 – 1.0235, which corresponded to a downtrend line, has been broken through […]
Stabilization above 1.5370 cancelled the bearish reversal scenario, leading towards 1.5430 (the projection target of the range breakout) then 1.5590. 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 […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading sideways, impulsive wave (3) (coloured blue) of the bigger wave C (coloured red) has finished developing and we are currently at the start of the corrective wave (4) (coloured blue). Yesterday, during the Asian session we could observe descending movement from 1.0075 […]
EUR/USD Elliott Wave For the last few days the EUR/USD pair has been trading upwards, impulsive wave 3 (coloured blue) of the bigger wave (C) (coloured green) has been developing. During the Wednesday’s Asian and European session we could observe strong ascending movement from 1.3160 towards the 1.0324 level and we can consider this move as […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has been trading downwards, just like we expected, impulsive wave 1 (coloured blue) of the bigger wave (C) (coloured green) has been developing. During the Wednesday’s Asian and European session we could observe descending movement from 1.0380 towards the 1.0322 level. Therefore, during the New […]
GBP/USD Elliott Wave For the past few weeks the GBP/USD pair is trading upwards, in Elliott perspective this move represent corrective wave 2 (coloured blue) of the bigger wave (C) (coloured red). Yesterday, during the Asian and European session we could observe strong ascending movement from 1.5527 towards the 1.5590 level. Therefore, during the early New York […]
The rising wedge continuation pattern achieved its full projection target around 1.5490. This week, there’s slowdown in bullish acceleration witnessed at supply zone and located between 1.5500-1.5550 which corresponds to 50% Fibonacci Level and the upper limit of the depicted bullish channel. Hence, it’s expected to have some bearish retracement. Although the bullish steam seems […]
Overview: The GBP/JPY is to range trade with risks skewed lower as markets await 11:45 GMT European Central Bank’s interest rate announcement. The GBP/JPY is undermined by increased investor risk aversion; Japan exporter sales. But the EUR/JPY losses are tempered by the Bank of Japan’s aggressive easing measures to help reach its 2% inflation target; […]
Germany manufacturing activity remains in contraction territory in April as indicated by the purchasing manager’s index (PMI) compiled by Market/BME. The index showed a reading of 48.1, down from 49.0 in March, the latest reading indicated a moderate worsening of overall business conditions, and the rate of deterioration was the most marked since December 2012. […]
Read the Daily Market Report from Dave Evans, Professional Trader All Eyes On the ECB Morning Report: 08.00 London • This morning, financial markets have a negative bias after the S&P 500 sold off into the close last night. This morning, the negative tone has continued, […]
TODAY’s TECHNICAL LEVEL : Resistance. 3 : 97.82. Resistance. 2 : 97.63. Resistance. 1 : 97.44. Support. 1 : 97.21. Support. 2 : 97.02. Support. 3 : 96.82. DESCRIPTION : Please pay attention to the levels of support 3 (96.82) and resistance 3 (97.82). Normally, when a level is touched, the USD/JPY […]
TODAY’s TECHNICAL LEVEL : Breakout BUY Level: 1.3245. Strong Resistance: 1.3237. Original Resistance: 1.3224. Inner Sell Area: 1.3211. Target Inner Area: 1.3180. Inner Buy Area: 1.3149. Original Support: 1.3136. Strong Support: 1.3123. Breakout SELL Level: 1.3115. DESCRIPTION : Today the EUR/USD has support and resistance at 1.3136 and 1.3224. The rate is accompanied by […]
Weekly pivot point: 1.5308. GBP/USD: Resistance:1.5611 (sell below this level). Support: 1.5517 (buy above this level for retesting this level for a short period). Trading recommendations: (intraday) According to the previous events, the price is still between the levels of 1.5520 and 1.5580. The descending movement will probably be lower than the 1.5615 level […]
RECOMMENDATION : SELL Stop (Pending Order) @ 127.99. Stop Loss @ 128.09. Take Profit @ 127.85. Alternative : BUY Stop (Pending Order) @ 128.51. Stop Loss @ 128.41. Take Profit @ 128.65. Best regards, Arief Makmur Official Analyst of InstaForex Companies Group InstaForex Companies Group http://instaforex.com Email : [email protected] Yahoo Messenger & Skype : […]
Overview As shown in the H4 chart for today, the metal’s support level 23.90 has been broken yesterday and according to that the metal took a slightly downward and currently is stabilizing above the support level 23.00 which needs to be broken to continue its downward trend, the breakout of this support level gives a […]
The euro managed to reach our first goal of the third level weekly resistance 1.3225, a level that we expected last Monday. As of today until Friday, there are some news that will have a strong impact on the euro. Thus, we should be cautious when trading this pair since it tends to react in the […]
Today’s support and resistance levels: S1: 1.5484 R1: 1.5537 S2: 1.5462 R2: 1.5561 S3: 1.5444 R3: 1.5601 Technical overview: We have finally seen a clear break above the decending channel, which confirms our long-term bullish view. In […]
Today’s support and resistance levels: S1: 127.85 R1: 128.42 S2: 127.60 R2: 128.82 S3: 127.19 R3: 129.45 Technical overview: The wave 4 triangle is still unfolding. We are currently in wave d of the triangle, which we […]
The Asian session was relatively subdued as investors are waiting for the European Central Bank policy meeting later today. Most major currency pairs are consolidating after some volatility yesterday as a result of the Federal Reserve policy meeting. The dollar steadied in Asia after turning soft overnight following the FOMC decision of maintaining its stimulus […]
The British pound sterling has consolidated its position in the area of 1.5580/1.5560. This pair is in the area of great resistance, and the technical indicator is positioning for a drop of the pair as well, which has its first support at 1.5460 and 1.5280 (daily fractal). The breakdown of the latter could press to 1.50 […]
Overview The H4 chart for today demonstrates that the pair is stabilizing below the resistance level at 151.70 and moving above the downward trend line as shown, which almost cancels yesterday’s bullish scenario. Then the pair must meet a strong support level at 150.50 which needs to be broken to continue the bearish movement, and […]
Overview: The price is probably going to form a strong support at 0.9210 (below 38.2% of Fibonacci retracement levels in the H1 chart. It formed the last bearish wave for the last three weeks and the level of 0.9210 acts as strong support. The saturation is likely to take place around 0.9210 because this […]
EUR/USD: As it was forecasted, this pair has continued to move upwards, while the indicators confirm the current bias. The price line at 1.3200 has already been tested and violated, so the price should not find it difficult to go towards the resistance line at 1.3300. There is thus a Bullish Confirmation pattern in the […]
