Overview: USD/CHF is trading in lower range. CHF sentiment was boosted by higher-than-expected Switzerland April KOF economic barometer (came in at 1.02 vs. 0.98 forecast). USD/CHF is also undermined by weaker USD sentiment; CHF demand on soft EUR/CHF cross. Daily chart is mixed as MACD is bullish, 5- and 15-day moving averages are rising; but […]
Overview: USD/JPY is trading in lower range. Liquidity was thin in Asia as financial markets in Japan and China were shut for holiday. USD/JPY undermined by negative USD sentiment after U.S. 1Q GDP grew at lower-than-expected 2.5% annual rate (vs. +3.2% forecast), heightening expectations that Federal Reserve will continue pushing forward its quantitative easing program […]
Euro rallied against the dollar after being buoyed by relief that Italy has finally formed a government, ending two months of political uncertainty following an inconclusive February election. Italy’s Prime Minister Enrico Letta put together a coalition government comprising of the two major political parties of the centre left and centre right. The news also […]
On 27 April 2013, the forex seminar and workshop series hosted by XEMarkets and presented by Forex Guru Chief Technical Strategist Avramis Despotis in many different countries of the world, chose Budapest as its newest destination. The six-hour-long English presentation of renowned Certified Instructor and Portfolio Manager Avramis Despotis, attracted participants’ undivided attention due to […]
Technical outlook and chart setups: Silver is consolidating gains after breaking out of its trading range above 24.00 level last week. Further upside targets remain at 25.00 and 26.00 levels at least. It is recommended to remain long for now and also buy on dips. The 26.00/50 region is convergence of Fibonacci 0.618 resistance and […]
Gold prices have rebounded from Friday’s sharp dip, climbing steadily in Monday trading to recover most losses. A weak dollar is helping spur buying and buoying the precious metal. The two assets usually have an inverse price relationship. If gold is priced in USD, a weaker dollar makes it cheaper for holders of other currencies […]
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, the next near target is located at the upper limit of the movement channel around 1.5560. Stabilization above 1.5370 cancelled the bearish reversal scenario, leading towards 1.5430 (the […]
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 existed last week which was […]
Technical outlook and chart setups: Gold has been trading sideways, probably in wave 4, after hitting first measured target at 1,450.00 level last week. It is recommended to hold remaining long positions for now and also plan to buy on dips towards 1,500/10 levels. This region is past support turned resistance and further downswing is […]
Technical outlook and chart setups: The single currency pair has rallied through the 0.618 resistance level around 1.4650. Prices have been stalling since then indicating that a last spike higher is possible. The measured level for a top and reversal is between 1.4600-1.4700 in the next few trading sessions. Hence it is recommended to remain […]
Technical outlook and chart setups: As seen on the 4H chart setup here, the single currency pair has been trading within the range 125.00-130.00 in a decreasing resistance increasing support fashion. After a huge rally from sub 90.00 level to 130.00 level, the pair should retrace before rallying further, but that cannot be confirmed before […]
Italy formed a new government on Saturday, after Enrico Letta took over as Prime Minister, ending two months of political uncertainty and gridlock after February’s inconclusive elections. 46-year-old Letta is a moderate leader of the country’s center-left Democratic Party, and his cabinet is a mix of center-right and center-left officials. center-right leader and former Prime […]
Published on Friday data on US GDP was rather strong. It grew 2.5% annually in the first quarter vs. forecast for 3.1. However, it was said it was disappointing and even US consumer confidence index in April was 76.4 vs. forecast for 73.3 did not manage to influence the situation. Consequently, DJIA added just 0.08% […]
Published on Friday data on US GDP was rather strong. It grew 2.5% annually in the first quarter vs. forecast for 3.1. However, it is said to be disappointing and the pound grew moderately 40 points. At 16:30 GMT+4 data on US Personal income and personal Spending in March is issued. Personal income is expected […]
April 29th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened higher this morning, as the appointment of Enrico Letta as the new Prime Minster of Italy ended the political impasse surrounding the nation for the past two months. Meanwhile, at a debt auction today, Italy aims to sell €2.0-€3.0 billion […]
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 May 09, 2024 May 9, 2024 Potential for the rally on Dollar Index… The material has…Forex forecast 05/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin… May 9, 2024 We […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has been trading downwards, just like we expected, corrective wave B (coloured blue) of the bigger wave (B) (coloured green) has finished its development. During the Friday’s Asian session we could observe ascending movement from 1.0288 towards 1.0336 level and we can consider this movement […]
USD/CAD Elliott Wave Last week the USD/CAD pair has been trading downwards, impulsive wave (3) (coloured blue) of the bigger wave C (coloured red) was developing. During the Friday’s European session we could observe small ascending movement from 1.0180 towards the 1.0213 level and we can consider this movement as the end of the corrective […]
Gold approaches the lower limit of its medium-term bullish channel at 1,450 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 most likely. […]
The spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 128.20 suggesting a decline. However, a break of this level will allow it to reach the upper limit of its channel at 129.50. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption […]
Gold now is held at the Weekly Tenkan Sen line at 1,470.34 as the Dynamic Resistance, but this week it seems the downside pressure is still going on. It has already been indicated by: 1. The price curve still trading below the “Kumo’s”. 2. The Chikou Span is pointing up BUT still below the “Kumo’s”. […]
Read the Daily Market Report from Dave Evans, Professional Trader Aussie leads in positive start to weekMorning Report: 08.30 London • Markets have started the week with a positive bias, with commodity related currencies leading the charge. Click here to view full-sized image • The dollar […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 98.17. Resistance 2: 97.98. Resistance 1: 97.79. Support 1: 97.55. Support 2: 97.36. Support 3: 97.16. DESCRIPTION: Please pay attention to the levels of support 3 (97.16) and resistance 3 (98.17). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but […]
Today’s Support and Resistance levels: S1: 1.5296 R1: 1.5333 S2: 1.5255 R2: 1.5361 S3: 1.5236 R3: 1.5395 Technical overview: We could have seen the bottom of wave c of ii at 1.5236, but to confirm that we […]
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 this level 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 […]
The spot rate approaches the upper limit of its medium-term bullish channel at 1.5550 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 […]
Weekly technical levels Overview: Projected High: 1.5886 Breakout (Buy Stop): 1.5831 Strong Resistance (Sell Limit): 1.5801 Current Pivot: 1.5347 Strong Support (Buy Limit): 1.4892 Breakout (Sell Stop): 1.4867 Projected Low: 1.4817 Weekly Trading Recommendations: According to previous events, the price has still been trapped between 1.5785 and 1.5307. Long Buying: Buy above 1.5430 with a […]
The dollar remains weak on Monday as a result of Friday’s softer-than-expected US GDP numbers. Data showed the world’s largest economy expanded by 2.5 percent in the first quarter, missing estimates of a 3.0 percent forecast. The weaker data raised concerns of another year of sluggish growth and spurred fresh bets that the Federal Reserve […]
EUR/USD: This pair moved in a tight range throughout last week without showing any significant move either in favor of the bear or the bull. It is however possible that the breakout away from the current equilibrium zone might be in favor of the bears. Because of this outlook, the bearish bias is assumed for […]
The dollar fell sharply against the yen on Friday, losing 1 percent after extending losses on the back of US GDP numbers missing estimates. Data showed the US economy expanded by 2.5 percent in the first quarter, which was less than the 3.0 percent forecast. The weaker data raised concerns of another year of sluggish […]
