On the daily chart we can see that the bulls found enough demand around 1.3570 to push again towards 1.3680-1.3700 for another retesting. A prominent top was established around the same price zone on January 24. However, this time the bulls managed to breakthrough above 1.3700 and a bottom is probably being established around this […]
GOLD: With GOLD maintaining its upside bias, we expect further strength to occur in the new week. However, it will have to retake the 1,332.09/1,328.00 levels to create scope for more upside. Further out, resistance resides at the 1,350.00 level with break of here turning focus to the 1,400.00 level. Additionally, resistance stands at the […]
EURUSD: With EUR maintaining its bullish bias, further gain is envisaged in the new week. Resistance resides at the 1.3800 level where a violation will turn attention to the 1.3850 level and then the 1.3900 level, its psycho level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, to annul its past […]
USDCHF: With a third-week of decline as occurring the past week, further weakness is likely towards the 0.8798 level, its Dec 27 2013 low. Further down, support lies at the 0.8750 level with a cut through here paving the way for a run at the 0.8700 level, its big psycho level. Below here if seen […]
The EUR/GBP was higher in Europe after the Office for National Statistics reported weaker than forecast UK retail sales. The pair, however, consolidated lower ahead of the North American session, as market sentiment continued to support the British pound. The pound was unable to test new highs this week after employment data failed to live […]
The GBP/USD was higher at the end of the week, despite a series of disappointing releases from the UK Office for National Statistics. With recent data showing the US economy turned a corner in February after a severe winter, the GBP/USD could find itself in reversal mode next week. UK retail trade in January fell […]
The USD/CAD pair continued to pull ahead at the end of the week, testing new highs amid a string of mixed Canadian data. Weaker than forecast Canadian retail sales outweighed faster inflation growth, a sign investors have all but abandoned hope in the loonie. The USD/CAD pair approached 1.12 in Europe before consolidating in the […]
Overview: USD/JPY is expected to trade in a higher range. It is underpinned by the positive dollar sentiment (ICE spot dollar index is 80.28 versus 80.18 early Thursday) and the yen-funded carry trades amid improved investors’ risk appetite (VIX fear gauge eased 4.58% to 14.79; S&P rose 0.6% overnight) on rise in the Markit U.S. […]
February 21, 2014 – Indices News Traders have turned to Asian stocks after the U.S manufacturing report released much better figures than expected. Traders were looking ahead for this report as recent bad data was blamed on poor weather conditions. The report highlighted the fastest overhaul in the U.S manufacturing sector since 2010. This boosted […]
Overview: USD/CHF is expected to trade with risks skewed higher. It is underpinned by the positive dollar sentiment. But the USD/CHF gains are tempered by the franc demand on the soft EUR/CHF cross and on the buoyant CHF/JPY cross and positions adjustment before weekend. Daily chart is mixed as MACD is bearish, five- and 15-day […]
Overview: GBP/JPY is expected to rebound. It is supported by the positive risk appetite and demand from Japan importers. But EUR/JPY gains are tempered by the Japan exporter sales and weaker euro sentiment and positions adjustment before weekend. Daily chart is positive biased as MACD and stochastics are bullish, although latter is at overbought zone, […]
Overview: NZD/USD is expected to trade in higher range. It is supported by the Kiwi demand on NZD/JPY cross amid reduced risk aversion and hawkish Reserve Bank of New Zealand’s monetary policy stance. But NZD/USD gains are tempered by the positive dollar sentiment and official stance against strong Kiwi exchange rate and positions adjustment before […]
There was little movement in major currency pairs leading into the weekend, partly due to hardly any news releases today. The only major data out during today’s European session was from the United Kingdom for January retail sales. Sales volumes dropped by 1.5% month-over-month, down from December’s surge to 2.5%. This was bigger than the […]
AUD/USD Elliott Wave analysisThe AUD/USD pair has continued trading in a choppy sideways movements yesterday, corrective wave [b] (coloured black) of the bigger wave B (coloured blue) has been developing. In the 1-hour chart above, we can see the Triangle pattern developing from the 0.8935 level. As long as the price stays below the 0.9030 […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued upwards movements, wave (iii)/(c) (coloured green) of the bigger wave [a] (coloured black) has been developing. In the 1-hour chart above, we can see that wave (ii)/(b) (coloured green) has completed short down cycle from 1.1092 at 1.1059 level. At the moment, we […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – UK unemployment to shake sterling – 19 February 2014 Written by the easy-forex team Currencies The euro (EUR) continues to rise against the US dollar (USD) as the pair moves above 1.37616. The single currency has risen above a one month high as the dollar […]
Hi eToro users, I received some eToro Credits in my trading account. I haven’t traded for quite some time so I was hesitant to open a position. I avoided the account for a few days, leaving me feeling awkward. An account without trading is simply boring. So I finally decided to muster up the courage […]
Hi eToro users, I received some eToro Credits in my trading account. I haven’t traded for quite some time so I was hesitant to open a position. I avoided the account for a few days, leaving me feeling awkward. An account without trading is simply boring. So I finally decided to muster up the courage […]
Major headline-grabbing news will probably be absent from the week ahead, as a raft of economic data will illuminate the state of the Eurozone economy and whether Japanese inflation is on course for 1.5%. Revisions to the GDP data of the United States and the United Kingdom will also be closely watched. For the euro, […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,324.76 on lower volume. Our previous analysis is still valid. The price stopped at FR 61.8% (1,322.00). We can observe low volume demand around the price of 1,323.00, which is the sign that buying at this stage is risky. […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, the price tested and rejected from the level of 1.6492 on an average volume. Our previous analysis is still active. We can observe selling climax at the price of 1.6517, so selling at this stage looks risky. Our first major target has been […]
Gold price has broken above the downward sloping trend line resistance and is now making a try to reach previous highs. This upward move that started after the low at $1,306 is most liekly to be the beginning of a new upward move that could push the Gold price towards $1,400. Gold price is trading […]
In our previous analysis, we mentioned that the Dollar Index was oversold and made a double bottom and that there was increased chances of an upward bounce. We expected the Dollar Index to rise first towards 80,40 and then towards 80,60. The index has managed to hold above its recent lows and it is now […]
Today’s Support and Resistance levels: R3: 1.6747 R2: 1.6673 R1: 1.6578 Current Spot: 1.6505 S1: 1.6477 S2: 1.6412 S3: 1.6342 Technical summary: The wave 1 ended little earlier than we expected. Wave v became equal in length to wave v, which is a common relationship. With the break below 1.6574 we knew that the wave […]
Overview As shown in the today’s H4 chart, the metal is stabilizing above the Support level of 21.25 after its failure to break the Resistance level of 21.75 again. Currently, we should wait for re-testing the Support level again and closing below to get the bearish opportunity. In that case, we will get a good […]
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 24, 2024 April 24, 2024 Potential for the downside movement on the NAS100The material has…Forex forecast 04/24/2024: EUR/USD, USD/CAD, Oil and Bitcoin… April 24, 2024 We […]
EUR/USD: In spite of the present bearish retracement on it, this market remains a bull market, unless the price closes below the EMA 56. The drop in the Williams’ % Range period 20 indicates an opportunity to buy long when there is a dip in the price in a context of an uptrend. USD/CHF: In […]
Today’s Support and Resistance levels: R3: 141.87 R2: 141.26 R1: 140.87 Current Spot: 140.60 S1: 140.20 S2: 139.99 S3: 139.80 Technical summary: Important support at 138.95 protected the downside and has kept the correction from 136.23 alive and we should still be looking for a rally higher towards 142.26. In the short term we are […]
Global finance chiefs will use weekend discussions to recommend financial policy is carefully calibrated and clearly communicated as they try to settle a spat between the U.S. and emerging markets over the wind-down of Federal Reserve stimulus. The recommendation is contained in a draft communique for a meeting of Group of 20 policy makers scheduled […]
As delegates gather for the Mobile World Congress in Barcelona next week, they’ll see the smiling mug of keynote speaker – and Facebook Inc. boss – Mark Zuckerberg splashed across brochures and websites. Chema Alonso better represents the prevailing mood. The scruffy computer whiz oversees digital security for phone carrier Telefonica SA. While he won’t […]
