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: 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 […]
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 […]
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 – EURCHF […]
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 […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards. Just as we expected, the price tested level of 1.6733 on high volume. We can observe that strong demand has entered the market at price 1.6613 which is good sign of bullish strength. I have placed Fibonacci levels to find next upper level […]
Following on from their early statement and previously announced 50p special dividend to shareholders in february, fashion chain NEXT (NXT.L) has announced a further special dividend of 50p to be paid on May 1st. The company recently announced a decision to buyback shares or issue special dividends depending on the current share price. Saying in […]
January 31, 2014 – Forex News Hot asset for today: EUR/USD The EUR/USD pair repeated the movement from Wednesday and broke its support (on Thursday it was 1.3580) and fell to its second support at 1.3550. The bearish mood was first driven by optimisms on the Dollar side but later on as U.S. data came out mixed […]
Overview: NZD/USD is expected to trade in lower range. It is undermined by the Kiwi sales on rebounding AUD/NZD cross and positive dollar sentiment. But NZD/USD downside is limited by hawkish Reserve Bank of New Zealand’s monetary policy stance. Daily chart is mixed as MACD is bullish but stochastics is neutral, bearish outside-day-range pattern is […]
Technical outlook and chart setups: 1. Gold has produced an engulfing bearish candle stick yesterday. Currently trading at $1,241.00, it is recommended to remain short and also sell intraday rallies. Risk is at $1,270.00 at present. 2. Immediate resistance is at $1,270.00, followed by $1,279.00, while supports are spread through $1,230.00, followed by $1,220.00, and […]
Technical outlook and chart setups: 1. The NZD/USD pair seems to be heading towards 0.8000 levels at the moment, in a corrective manner. It is recommended to initiate short positions now (0.8130), risk remains at 0.8250 at least. 2. Immediate resistance is at 0.8430, followed by 0.8540 (intermediary), and 0.8600/50, while supports are spread through […]
Technical outlook and chart setups: 1. A weekly chart view has been presented here for the overall wave structure. The intermediary downtrend that had begun from 1.1000 levels is on its way towards 0.7950, which is 0.618 fibonacci support of the entire upswing between 0.6000 to 1.1000. It is recommended to initiate short positions now […]
Technical outlook and chart setups: 1. The GBP/USD pair is poised to move lower towards 1.6100/1.6000. It is recommended to hold on to short positions for now and also look to add further on intraday rallies. Major top seems to have been formed at 1.6650/60 levels. 2. Immediate resistance is at 1.6630/50, while supports are […]
Technical outlook and chart setups: 1. The USD/CHF pair has produced an engulfing bullish signal on daily chart yesterday. It is currently trading above 0.9000 and is poised to push further high. Hence recommendations are to hold long positions and look to add further on dips. Risk remains at 0.8800. 2. Immediate resistance is the […]
Technical outlook and chart setups: 1. As seen here, the USD/JPY has bounced off the lows at 102.00 yesterday. Please note that 102.00 is the fibonacci 0.382 support as well. A push above 103.50 would confirm that bottom is in place at 102.00 and bullish trend should continue. It is recommended to hold long positions […]
Technical outlook and chart setups: 1. The EUR/USD pair is back towards range bottom at the 1.3530/50 levels. It is recommended to keep short positions taken yesterday. A push through 1.3500 would prove to be extremely bearish, while risk remains at 1.3850. 2. Immediate resistance is at 1.3740/50, followed by 1.3850, while supports are spread […]
Technical outlook and chart setups: 1. The EUR/JPY pair has drifted into yet another low at 138.70 today. Implications are ripe for a counter trend rally from here, towards 143.00 as seen here. It is recommended to remain flat for now and sell around 143.00 levels for further downside. 2. Immediate resistance is at 143.00, […]
Technical outlook and chart setups: 1. The GBP/CHF pair is setting up to reach towards 1.4900/50 from here on as seen in the chart attached here. It is recommended to hold on to short positions taken earlier and also plan to add further if prices reach 1.4900/50. Please note that the current rally can be […]
