Daily chart: The USDX is near a very strong resistance at the level of 81.50. If the USDX does make a breakout at that level, the bullish trend will strengthen and eventually the USDX could rise to the level of 82.51 in the long term. However, if the USDX makes a bearish rebound at current […]
EUR/USD: The weakness in the EUR/USD may continue this week, especially when the price breaks the support line at 1.3450 to the downside. However, this may not occur without some upwards bounces along the way, which would tend to be opportunities to go short in the downtrend. USD/CHF: The stamina in the USD/CHF may continue […]
Daily chart: The GBP/USD continues to fall below the level of 1.6447, and starting this week, this pair is showing bearish patterns that indicate a clear weakness in this pair. If GBP/USD manages to consolidate below this level, it is likely that it will fall to the support level of 1.6326, which would be a […]
Weekly technical levels: Overview: It should be noticed that we got a weekly pivot point of EUR/USD pair for February 3-7, 2014 at the level of 1.3560. In addition, a gap has opened below the weekly pivot point. Therefore, the market will probably indicate a bearish opportunity at the level of 1.3560 and the weekly […]
Weekly technical levels of GBP/USD pair: Description of pivot point: Most of the professional traders and market makers use pivot point to determine potential resistance and support levels. Simply put a pivot point and its resistance and support levels are areas at which the direction of price movement can probably change. To identify the pivot […]
GOLD: With GOLD failing to hold above the 1,267.75 level, its Dec 10 2013 high and turning lower the past week, further decline is likely in the new week. Support comes in at the 1,231.48 level. Further down, support resides at the 1,218.35 level, representing its Jan 08’2014 low. This level must hold to prevent […]
GOLD: Turns Lower, Set To Extend Weakness GOLD: With GOLD failing to hold above the 1,267.75 level, its Dec 10 2013 high and turning lower the past week, further decline is likely in the new week. Support comes in at the 1,231.48 level. Further down, support resides at the 1,218.35 level, representing its Jan 08’2014 […]
EURUSD: With EUR reversing its previous week gains and returning below its rising trendline, further decline is envisaged in the days ahead. Support comes in at the 1.3400 level, representing its psycho level where a breach will aim at its weekly 200 ema at the 1.3346 level. Further down, support comes in at the 1.3300 […]
USDCHF: With the pair reversing most of its previous week losses to close higher the past week, immediate risk remains to the upside. Resistance resides at the 0.9156 level, its Jan 21 2014 high. Further out, the 0.9200 level, its psycho level comes in as the next upside objective where a violation will aim at […]
The EUR/GBP failed to generate support in mid-week trading, as negative data from the Eurozone weighed heavily on the common currency. The pair rose to a session high of 0.8267 in Europe after German employment data beat forecasts. Fewer Germans were unemployed in January, official data from the German Statistics Office showed. In total, Germany’s […]
The EUR/USD plummeted toward the end of the week, after the Federal Reserve announced it would taper asset purchases by another $10 billion, beginning in February. The decision marks the second time in as many months the US central bank decided to reduce record stimulus. The economic data certainly didn’t help the pair. Although Germany […]
January 31, 2014 – Indices News Asian markets are mostly closed today due to the lunar new year. However, Japanese markets remained open and initially rose after better than expected unemployment data. However, worse than expected Household Spending and Industrial Production data eventually dragged the Nikkei down. It closed down 0.62%. European markets fell today […]
GOLD: Outlook for GOLD remains lower while holding and trading below its declining trendline currently seen at 1,274.25 level. This leaves it targeting its minimum support located at the 1,231.48 level, its Jan 23’2014 low. On a turn below that level, more weakness should occur follow towards the 1,200 level, representing its psycho level. This […]
Risk aversion dominated the currency markets on the last day of the month, causing volatility and buoying the safe haven yen, while the dollar was stronger against the euro and the pound. Month-end repositioning also played a role in directing currency flows. The euro had a rough week, falling down to 2-month lows after extending […]
Overview: GBP/JPY is expected to consolidate with bearish bias. It is undermined by the weak EUR/USD undertone and Japan exporter sales. But GBP/JPY losses are tempered by the demand from Japan importers and improved investor risk tolerance. It is also affected by the positions adjustment of traders before weekend. Daily chart is negative-biased as MACD […]
Overview: USD/CHF is expected to trade in a higher range. It is supported by the positive dollar sentiment, reduced safe-appeal of franc as emerging-market currencies are stabilized and weaker-than-expected Switzerland January KOF economic barometer of 1.98 (versus 1.99 forecast). But USD/CHF gains are tempered by the positions adjustment before weekend. Daily chart is mixed as […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading upwards, corrective wave .c (coloured black) of the wave [y] (coloured green) has been developing. According to our last forecast, we expected this commodity currency to break below the lower trend line before opening the short position, but if the price breaks […]
Overview: USD/JPY is expected to trade in higher range. Liquidity was thin in Asia as financial markets in many countries in the region were shut for holiday. USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 81.07 versus 80.55 early Thursday) as advance estimate of fourth-quarter U.S. GDP matched forecasts with […]
AUD/USD Elliott Wave The AUD/USD pair continued moving downwards yesterday, so our primary count is still valid and we are still going with an idea that wave .c (coloured black) of the bigger wave iii (coloured blue) is developing at the moment. In the 1-hour chart, we can see that the AUD/USD pair has missed […]
Daily chart: Again, the USDX has consolidated above the support level of 80.62 and now above the 200 SMA. This bullish momentum indicates much indecision in the market, because the USDX has not got out of the range between the levels of 81.50 and 80.11. However, it is very likely that the USDX will try […]
Daily chart: The GBP/USD had a drop below the level of 1.6540 and reached to touch the support level of 1.6447. Now this pair is forming a bearish pattern above that level, but we should remember that at this level the pair usually finds strong support and makes a bullish rebound again to try to […]
January 31, 2014 – Commodities News Hot asset for today: Gold The price of Gold declined as the U.S. economy outlook shows improvement and also due to another reducing of the monetary stimulus. The price of Gold fell from $1,266/ounce to $1,237/ounce but slightly rebounded to $1,242/ounce. The drop was also caused by weaker physical demand […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Dollar higher amid strong recovery signs – 31 January 2014 Written by the easy-forex team Currencies A stronger dollar pushed the euro (EUR) lower as the pair moved below 1.3543 in early trading. The single currency may come under stress today as Eurozone price data […]
What is a Friday without the NFP report? A quiet one of course! But a quiet Friday doesn’t mean a calm week. Let’s have a look at this week’s most important events before we move to today’s news and stories. *Japan’s last report talked about a record annual trade deficit, passing the 65% of last […]
Insurer Direct Line (DLG.L) today announced news that the Solicitors Regulation Authority has approved plans for Direct Line to provide legal services to customer under the subsidiary company DLG Legal services, this will be done in partnership with Parabis Law LLP. The company is expecting to start offering such services from this March. Related Posts:Technical Analysis – US […]
An unexpected drop in Eurozone CPI for January 31, 2014 raised fears of deflationary pressures in the region. According to data released on Friday from the EU’s statistics office, Eurostat, consumer prices fell to 0.7% year-on-year in January compared to 0.8 % in December. This was the lowest level since October, which was when inflation […]
In South Africa there is a very popular TV show called 7de Laan, translated to English it’s 7th Avenue. It airs Monday to Friday at 18:30 PM and is on air for 30 minutes. A while ago I read about a motivational speaker who visited a small town near Cape Town. He encountered a strange phenomenon […]
Economist are forecasting the greenback to strengthen to its best since 2010 against its peers, as investors are expecting reports to show the world’s largest economy increased its spending for an eighth month. Meanwhile, the Japanese yen added monthly gains against a basket of its major peers while stocks for the country declined and reports […]
Crude oil prices were seen trading lower on the last day of the trading week while oil traders express their worries over oil demand from China as reports revealed a contraction in China’s manufacturing sector. The North American West Texas Intermediate delivery slid 0.55% lower, trading at $97.70 per barrel on the New York Mercantile […]
Overview: Since our last analysis, gold has been trading downwards. As we expected, the price reached our down station and tested level of the 1,237.86 on high volume. I have placed Fibonacci expansion levels from the most recent swings and I got FE 100 % at price 1,240.00 (already met) and FE 161.8 % at […]
