Overview Like we expected last week, the H4 chart demonstrates today that silver continued its downward movement after it managed to break the Support area 25.50-25.00 last week. Currently silver is trading below the Support level 23.90 and we should wait closing 4H below it to get a new opportunity to sell. If silver manages […]
Gold fell 5 percent on Monday to hit a two-year low, as a sell off was accelerated by disappointing economic data from China this morning, which showed grwoth in the world’s second largest economy is slowing down. Gold prices tumbled to $1,385.45 in the European trading session today, down from an earlier high of $1,459.03. […]
Weekly technical levels: Tips: If the trend is of an upside character, then the strength of the currency will be defined as follows: NZD is an uptrend and USD is a downtrend. Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account. Fibonacci […]
Overview: History will probably repeat itself at this level again. When the trend is not able to break and close above the level of 1.0300, then it will be a downside momentum, which is rather convincing and the structure of the fall does not look corrective, for that the market will indicate a bearish opportunity […]
Euro remains weak against the dollar, after tumbling in early trading due to risk aversion following weak China growth data. Yen rose due to its safe haven status as investors flee to safety. EURUSD fell to a session low of $1.3051, down from the open of $1.3072, ending the session flat. USDJPY slid to 97.70 […]
Technical outlook and chart setups: The single currency pair has reversed ahead of 1.4380, which was the measured extension, as discussed on Friday. Furthermore, fresh lows have been printed just ahead of 1.4200. It is recommended now to get in the direction of trend and initiate fresh short positions now. As depicted here, the intermediary […]
Technical outlook and chart setups: The metal is heading towards 21.00/22.00 levels as shown on charts here. Having stopped us out at 25.95 on Friday, the same level has turned to be resistance now for any rallies to be well capped below. Looking into the wave structure and momentum right now, it is recommended to […]
Technical outlook and chart setups: The single currency pair did not provide a short trade opportunity at 130.00 as expected. Currently trading is around 127.74 level, the pair is at past resistance turned support zone as depicted on chart view here. It is recommended to initiate long positions now, for at least a meaningful pullback […]
Technical outlook and chart setups: The yellow metal BREAKS multi month support at 1,520/25 levels on Friday giving in almost 8-10% lower immediately. The intraday lows are at 1,385.00 for now and it is expected to produce a counter trend rally soon. But rather than bottom fishing and loosing trades, it is recommended to stay […]
April 15th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened lower this morning, following their Asian counterparts, as weaker-than-expected Chinese economic data sparked concerns over the pace of global economic growth. Earlier, Rightmove reported that, on an annual basis, the house price index in the UK rose 0.4% in April, […]
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 19, 2024 April 19, 2024 Potential for the further drop on NAS100The material has been…Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision… April 19, […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair was trading higher. At this moment we think that corrective wave B (coloured red) of the bigger wave (D) (coloured blue) is currently in the move. During the Friday’s European session we could observe ascending movement from 1.0095 towards the 1.0125 level. Therefore, during […]
The major event that was issued on Friday, US Retail Sales in March, disappointed the investors and the pound along with the whole market preferred the bearish scenario (Retail Sales dropped 0.4% vs. forecast for being flat). Today amid weak data on China the pound started downward movement. China’s GDP fell 0.2% from 7.9% to […]
AUD/USD Elliott Wave For the last three days the AUD/USD pair was trading downwards, in Elliott perspective corrective wave (A) (coloured green) of the bigger wave 2 (coloured purple) was developing. During the Friday’s Asian and European sessions we could observe descending movement from 1.0560 towards the 1.0510 level. Therefore, during the New York session […]
On Friday the markets were bearish. US Retail Sales in March dropped 0.4% vs. forecast for being flat. Retail Sales Ex-Auto fell 0.4% vs. expectations for 0.1% decrease. JPMorgan Chase and Wells Fargo published reports on their performance. It was slightly better than expected, though the revenue dropped and earnings per share increased. Meanwhile, the […]
Read the Daily Market Report from Dave Evans, Professional Trader Gold plunges into bear marketMorning Report: 08.30 London • This morning gold has continued to sell off, as speculation mounts that Cyprus and other troubled nations may have to sell off their gold reserves to […]
Today’s Support and Resistance levels: S1: 1.5371 R1: 1.5436 S2: 1.5315 R2: 1.5468 S3: 1.5240 R3: 1.5522 Technical overview: The rally from the 1.5080 low has all the characteristics of an impulsive rally, but we still need […]
Gold approaches the lower limit of its medium-term bearish channel at 1,425 suggesting a rebound. However, a break of this level will free a large potential and initiate a more violent bearish channel. Technical indicators provide sell signals but the price evolves in oversell zone and until the support is not broken the assumption […]
The spot rate approaches the lower limit of its medium-term bearish channel at 127.50 suggesting a rebound. However, a break of this level will free a large potential and initiate a more violent bearish channel. Technical indicators do not provide clear signals, but until the support is not broken the assumption of a rebound […]
The spot rate approaches the upper limit of its medium-term bearish channel at 1.3130 suggesting a decline. However, a break of this level will initiate a 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 showing […]
The spot rate approaches the lower limit of its medium-term bullish channel at 1.5290 suggesting a rebound. However, a break of this level will free a large potential and initiate a violent bearish channel. Technical indicators do not provide clear signals, but until the support is not broken the assumption of a rebound is […]
Risk appetite dropped in Monday’s Asian session after disappointing GDP data from China, causing a shift of demand to safe haven assets like yen and dollar. China’s first quarter growth printed at 7.7 percent which was lower than the 8.0 percent predicted and down from the previous quarter’s 7.9 percent. China is the world’s second […]
The EUR/USD is now trying to enter the median level between 1.3072 and 1.3033; if there is nothing significant fundamental news can affect, this currency will be playing within this zone. But if something happens due to fundamental news, causing the strong bearish sentiment for this currency and making the pair breach bellow the strong […]
EUR/USD: The EUR/USD was bullish last week, and this is what is expected this week. However, there would be some serious battle around the market lines of 1.3100 and 1.3150. The pair must overcome those barriers and trend further upwards before it could continue its journey to the upside. USD/CHF: After much struggle and […]
For the whole this week the GBP/USD has been trying to enter the median level between 1.5345-1.5304. If this currency has strong bearish pressure, it will try to breach the strong support between the 1.5279 to 1.5275. If it succeeds, it will be going to the first target at 1.5238 and 1.5191 as the secondary […]
Today’s support and resistance levels: S1: 127.55 R1: 128.06 S2: 126.66 R2: 125.51 S3: 126.04 R3: 129.32 Technical overview: The wave iv of 5 correction we were expecting has worked out nicely. We have already seen a […]
The dollar plunged against the yen on Friday after weak US economic data raised concerns that economy is struggling to recover and hasn’t performed as well as some analysts believed recently. Americans view of the US economy has grown more pessimistic, as shown by the Thomson Reuters/University of Michigan preliminary index of consumer sentiment which […]
FOREX Weekly Outlook by Easy-Forex.com Weekly Outlook – 11th March 2013 USD/JPY soaring as US Data Improves Last week’s currency trading review USD/JPY persistently strong US data is helping the Yen pair tofresh multi year highs with February US Nonfarm payrolls beating expectationsat 236k vs. 160k forecast and the Unemployment Rate dropping sharply to 7.7%vs. […]
The Australian dollar is very strong. It reached a resistance that stopped the rise of the pair. Above 1.0581 the daily fractal 1.0598 is located. Just below this level the pair has begun its correction. However, the fractal that remains is support 1.0523. If the pair closes the 4H below this level you can sell […]
The British pound tried to break the level of 1.5411 for two consecutive days, but failed to hold above this price. This morning during the U.S. session it has showed a bearish tint, which is likely to continue the correction of the pair, until weekly pivot levels of 1.5243. This area is a very strong […]
