Overview Like we expected yesterday, the H4 chart demonstrates today that silver may continue its downward trend in case of break out the Support level 27.50. Currently silver is trading below the Support level and we should wait closing 4H below it to get a new opportunity to sell. If silver manages to close 4H […]
Lack of the bullish steam seemed to exist during the last few weeks and the pair seems to be under negative pressure which was manifested on March 26 in the massive bearish daily candlestick. Bearish rejection around 1.0300 was followed by multiple days of indecision within the same consolidation range 1.0225-1.0330 until the pair […]
Looking at 1.5060 tested on April 4, the GBP/USD pair expressed quite significant bullish price action leading towards 1.5235 which represents the upper limit of the depicted movement range which was broken-through shortly after. Looking at 4H chart, the high formed at 1.5345-1.5360 provided resistance for the pair during this week. However, yesterday the […]
Currency markets in the European Session had the Friday cautious mood and investors were favouring risk aversion, driving weakness in risk currencies like euro. Therefore, this helped buoy the US dollar which was broadly stronger, except against the yen. There was an absence of tier one economic data today during the European session, nothing that […]
Overview: NZD/USD is consolidating with bearish bias after hitting 20-month high of 0.8677 on Thursday. Kiwi sentiment boosted after Finance Minister Bill English confirmed the 2013 budget would show NZ government still on track to return to a surplus in the year to June 2015; strong NZ housing data for March from Real Estate Institute […]
Overview: GBP/JPY is consolidating with bullish bias after hitting three-year high on Thursday. The rate is underpinned by positive investor risk appetite; Bank of Japan’s aggressive monetary easing plans to help reach its a 2% inflation target in next two years; demand from Japan importers. But GBP/JPY gains tempered by Japan exporter sales; positions adjustment […]
Overview: USD/CHF is consolidating with bearish bias after hitting six-week low of 0.9274 on Thursday. The rate is undermined by CHF demand on buoyant CHF/JPY as weak yen sentiment supports the cross; broadly weaker demand for safe-haven USD amid positive investor risk sentiment. But USD/CHF losses tempered by positions adjustment before weekend. Daily chart is […]
Overview: USD/JPY is consolidating with bullish bias after hitting near-four-year high of 99.95 on Thursday. The rate is underpinned by Bank of Japan’s aggressive easing measures — 7.5 trillion yen monthly bond-buying, suspending a cap on some bond holdings and dropping a limit on debt maturities — to help reach its 2% inflation target in […]
Technical outlook and chart setups: The daily chart view depicted here suggests that 26.00 level remains key for the metal to continue bullish momentum further. After forming a bullish reversal signal on April 4, the metal has retraced to 0.50 Fibonacci support levels towards 27.30 today. This is another long opportunity offered and it is […]
FOREX Daily Outlook by Easy-Forex.com AUD/USD session preview Thursday April 11th Movements in the AUD are being dominatedmainly by the AUD/JPY cross and to a lesser degree by the strong uptrend in theNZD. The shock-and-awe tactics of the BOJ are still encouraging speculators to sellthe Yen and a technical break higher in AUD/JPY will have […]
Yesterday the pound followed the general bullish trend, FTSE100 grew 0.45%, DJIA added 0.42%, and the pound rose 52 points. Today the major macroeconomic event is US Retail Sales in March (it is revealed at 16:30 GMT+4). It is estimated to be flat vs. 1.1% in February. US Core Retail Sales is expected to drop […]
EURUSD: This week, the EURSD pair moved largely in a bullish mode. The price did succeeded (albeit temporarily) in breaking the market line at 1.3100 to the upside, but it could not sustain that success. The present bearish pullback, however, is not supposed to push the price below the support line of 1.3050, after which […]
Read the Daily Market Report from Dave Evans, Professional Trader Yen pushes back after strong industrial activityMorning Report: 08.30 London • This morning, the yen pairs a selling off as the yen rises in response to better than expected industrial activity and comments from BoK […]
The spot rate approaches the upper limit of its medium-term bullish channel at 1.3150 suggesting a decline. However, a break of this level will initiate a more violent bullish channel. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands […]
The spot rate approaches the upper limit of its medium-term bullish channel at 1.5420 suggesting a decline. However, a break of this level will initiate a more violent bullish channel. Technical indicators provide sell signals and until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much […]
Gold approaches the lower limit of its medium-term bullish channel at 1,555 suggesting a rebound. However, a break of this level will free a large potential and initiate a violent bearish channel. Technical indicators provide buy signals and until the support is not broken the assumption of a rebound is most likely. Bollinger bands […]
AUD/USD Elliott Wave For the last few days the AUD/USD pair has been trading upwards, impulsive wave (5) (coloured green), of the bigger wave 1 (coloured red) was developing. Yesterday, during the European session we could observe strong ascending movement from 1.0500 towards the 1.0581 level and we can consider this move as the […]
The main reason for the euro’s rise was US Initial Jobless Claims published yesterday. It was 346K against forecast for 362K. We suppose that high volatility currencies followed the growth of the stock market, the volumes were lower than in the previous days, the top investors are waiting for the major event to be develop […]
The spot rate approaches the upper limit of its medium-term bullish channel at 131.10 suggesting a decline. However, a break of this level will initiate a more violent bullish channel. Technical indicators provide sell signals and until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much […]
USD/CAD Elliott Wave Since our invalidation point was broken yesterday, today we consider the alternate wave count for the USD/CAD pair. On the daily chart we can see a development of triangle pattern, but now we got only 3 finished waves, and this give us plenty of room for our future trades. We are […]
Forecast: Long buying above 1.0070 for the short term with the first target at the level of 1.0125 then it will resume towards 1.0200 as the second target. Stop loss should be placed below the strong support at 1.0015. Overview: USD/CAD: History will probably repeat itself at this level again. When the trend is not […]
After such a strong rally in the dollar against the yen this week, the USDJPY moved off a four-year high of 99.93 yen hit in late US session trading yesterday. Profit taking brought the pair down to a low of 99.34. Yen is expected to remain weak overall due to recent monetary policy measures adopted […]
TODAY’s TECHNICAL LEVEL: Breakout buy level: 1.3179. Strong resistance: 1.3171. Original resistance: 1.3158. Inner sell area: 1.3145. Target inner area: 1.3114. Inner buy area: 1.3083. Original support: 1.3070. Strong support: 1.3057. Breakout sell level: 1.3049. DESCRIPTION: Today EUR/USD has support and resistance at 1.3070 and 1.3158. The rate is accompanied by strong support at 1.3057 […]
RECOMMENDATION: Buy stop (pending order) at 1.0551. Take profit at 1.0565. Stop loss at 1.0541. Alternative: Sell stop (pending order) at 1.0524. Take profit at 1.0510. Stop loss at 1.0534. 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: […]
Overview: It should be noted that the price has still been above 100% Fibonacci Retracement levels (it is already broken). Moreover, after it failed to close below 100% Fibonacci Retracement, the market started showing bullish signs, and the price set above the level of 1.3030. Therefore, the market indicates a bullish opportunity at the level […]
The yen weakened for a second day on Thursday, with the US dollar breaking a new four-year high within two days as investors sold off the Japanese currency in the wake of Bank of Japan stimulus measures. USDJPY got so close to the key 100 yen level and hit 99.93 in the late US session.The […]
Overview The H4 chart demonstrates today that silver is still trading between the Support level 27.50 and the Resistance level 28.00 and currently is trying to break the Support level to continue its bearish trend. If silver manages to close 4H below the Support level 27.50, it provides a good opportunity to sell below the […]
The euro could not break the resistance level of 1.3150. Recently the currency has reached the level of 1.3136. It could exceed this level to try again, but without a bullish outlook, thus much more sustainable. A loss of tempo in its rise has already been observed, the following downward correction is imminent, and would […]
Overview Like we expected yesterday, the pair managed to break the Resistance level 152.50 and continued its upward trend and currently is testing the Resistance level 153.20. If the pair manages to close 4H above the Resistance level, it will continue its bullish movement and we will get a good opportunity to buy again above […]
The euro surged to a six-week high versus the dollar after news of a successful Italian sovereign bond auction resulted in lower yields. Spain’s borrowing costs also fell, with the 10-year bond yields reaching the lowest since November 2010. The bond auctions show that optimism amongst investors is improving and it appears that Italian election […]
