GBP/JPY is expected to trade in range. It is supported by demand from the Japan importers and buoyant USD/JPY undertone. But GBP/JPY upside is limited by the Japan exporter sales. Daily chart is mixed as MACD is bearish, 5- and 15-day moving averages are falling. but stochastics is bullish in oversold zone. Trading recommendation: The […]
Stocks in Europe opened lower on Thursday as market participants focus on the release of Purchasing Managers’ Index (PMI) deliveries from Germany and the eurozone as a whole. The European Euro Stoxx 50 slid 0.22% lower at 3,145.50, while the French CAC 40 opened 0.05% lower at 4,322.80. At the same time the German DAX […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards,as we expected, the price tested the level of 1.6434 on very high volume. As you can see in the chart, after the selling climatic action at 1.6270, EUR/NZD started upward movement. Currently, we can observe strong demand on the market and selling looks […]
Hello eTorians. After one year of trading and studying I can say I have learned something. One of my favourite sentence is “It is a long way to the top”. But this way is made of steps and I believe it’s important to continue to go straight to the target, step by step. I spent […]
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, […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Kiwi climbs as country’s inflation accelerates – 21 January 2013 Written by the easy-forex team Currencies The euro (EUR) advanced from its two month low at 1.3507 up to 1.3567 against the US dollar (USD). On the calendar, the German ZEW Economic Sentiment due at […]
Today’s Support and Resistance levels: R3: 1.6499 R2: 1.6469 R1: 1.6438 Current spot: 1.6428 S1: 1.6392 S2: 1.6358 S3: 1.6320 Technical summary: The corrective cycle from 1.6238 has become more complex than firstly expected. We do however think that a top is close and the next impulsive decline ready to take over again. However, to […]
Today’s Support and Resistance levels: R3: 142.90 R2: 142.64 R1: 142.42 Current spot: 142.17 S1: 141.88 S2: 141.46 S3: 141.03 Technical summary: The failure to break below 140.92 followed by a break above 141.85 is quite a surprise and has opened up for a much more complex correction. We will look for resistance at 142.64, […]
FTSE opens flat and continues to trade sideways this morning as investors exercise caution after data released in China and Europe earlier sends mixed signals. China PMI (Purchasing Managers Index) suprised slightly to the downside, failing from 50.5 to 49.6 this month – analysts had expected this figure to come in around 50.4. PMI figures […]
The Dollar index has been rejected once more at 81.50 and this is not good for bulls. The index has broken its short-term trend line that supported the bullish trend. As we mentioned in previous posts, the 81.50 price level is the most important resistance as this was the previous important high. Bulls will need […]
Overview According to the shown H4 chart, the price’s close below the level of 20.20 yesterday gave new opportunities for sell-signals. Currently, the metal has already managed to break the support area to trade below it and open the way towards the level of 19.75 as the first target, then the metal should test the […]
Overview Yesterday’s closing below the Resistance level of 173.50 gave the price an opportunity for bearish move. As shown here, the price is trying to continue its bearish move by breaking the Support level of 172.20 and closing 4h below. In that case we may get another opportunity for more sell signals and it opens […]
Gold price has made a double top around the price level of $1,260. Short-term trend has changed to down as the price has broken short-term support trend line. There are more chances now that the upward corrective move from $1,180 is over than incomplete. We believe the top is in. Gold price is making lower […]
The Canadian dollar weakened drastically on Wednesday after a dovish Bank of Canada outlook on the economy, following the central bank’s monetary policy meeting. USDCAD rallied to a new 4-year high of 1.1172 by the European session on Thursday after breaking a key psychological barrier of 1.10 late on Wednesday. The pair is approaching the […]
China Worries Spook Markets Morning Report: 08.45 London • The day is still young, yet we’ve already seen a volatile session across Asia. Chinese manufacturing data came in below estimates at 49.6, a level that in theory implies contraction. • Commodities and commodity related currencies have been hit hard, with the AUD/JPY off by […]
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USD/CAD Elliott WaveВ For the last couple of days, the USD/CAD pair has been trading upward, just like we expected, impulsiveВ wave iii (coloured blue) of the bigger wave (c) (coloured red) has been developing. In the 1-hour chartВ of the USD/CAD pair we can see that the strong ascending movements from 1.0951 represent impulsive waveВ iii (coloured […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading upward, corrective wave ii (coloured blue)has completed the cycle from 0.8755 at the 0.8887 level, and we should see more downward movements inthis iii wave that is currently developing. In the 1-hour chart we can see that after the flat patternin the […]
After the initial beta launch in October 2013, the XM Contest Arena is now live in 9 languages. Both new and returning clients have the opportunity to experience this revolutionary product starting with $20 free, which they can use to participate in any contest. The launch of the Contest Arena is joined by the introduction […]
EUR/USD: The levels at 1.3550 and 1.3500 are now being watched on the EUR/USD, for those levels remain our targets for this week. The market is bearish and it should keep on going downwards after the price leaves the current consolidation phase. The fundamental figures affecting the USD would surely have impact on the levels. […]
Weakness for European equity markets this Thursday morning as an unexpected contraction in the Chinese manufacturing activity and a warning from the ECB President Mario Draghi against undue optimism surrounding the euro zone economic recovery weighs on investors’ sentiment. Draghi’s attempts to downplay optimism surrounding the euro area pressured European stock futures ahead of the […]
Manufacturing data from China this morning showed the first contraction in 6 months and prompted new concern about growth in the world’s second largest economy. The HSBC flash manufacturing PMI fell to a 6-month low of 49.6 in January, below December’s final reading of 50.5 and missing expectations for a 50.3 reading. The soft data […]
European markets have opened mostly lower today, as an unexpected contraction in the Chinese manufacturing activity and a warning from the ECB President Mario Draghi against undue optimism surrounding the Eurozone economic recovery weighed on investors’ sentiment. Closer home, investors await data from the Confederation of British Industry’s Distributive Trades Survey that might show a […]
The Dow trading at a trend line, a low made on October 2013. It gave a strong return on a strong trend line. Now it is trading at a strong resistance trend line. Today’s unemployment and home sales data can make big moves in the street. Due to that the bond yields are weak, we […]
Gold prices come under pressure with the strong dollar being likely to reduce demand for yellow metal. The metal is likely to remain under pressure before the Fed meeting this month end. Traders eye on FOMC meeting, what the outcome will be? IF the US Fed further cuts its bond purchasing program, the journey of […]
When the European market opens, some economic news will be released. It will be French Flash Manufacturing PMI, French Flash Services PMI, Spanish Unemployment Rate, German Flash Manufacturing PM, German Flash Services PMI, Current Account, Flash Manufacturing PMI, Flash Services PMI. The US will release some economic data such as the US-Unemployment Claims, US-Flash Manufacturing […]
In Asia, Japan will release the BOJ Monthly Report, and the US will release some economic data such as US-Unemployment Claims, US-Flash Manufacturing PMI, US-HPI m/m, US-Existing Home Sales, US-CB Leading Index m/m, US-Natural Gas Storage, US-Crude Oil Inventories . So there is a big probability the USD/JPY will move with low volatility during the […]
Technical outlook and chart setups: 1. The EUR/JPY pair remains locked between 141.00/50 for now. It is still recommended to remain flat and look towards the 143.00/50 region to initiate short positions. 2. Immediate resistance is at 143.00/50, followed by 145.00/50, while supports are spread through 138.50, followed by 134.00 and 131.00 respectively. 3. The […]
Technical outlook and chart setups: 1. The GBP/CHF rallied yesterday and in early trading session today it went through the level of 1.5120. The weekly chart setup depicted here is pointing towards possible extensions at 1.5140/50 and 1.5340/50 respectively. It is recommended to remain flat for now after being stopped out at 1.5030 yesterday. 2. […]
Daily chart: The USDX fell to the 200 SMA and there made a bullish rebound, so it is very likely that the USDX will continue to be firm in the current bullish trend. Recall that the next target of the USDX could be the resistance level of 81.50. However, there is still the possibility that […]
