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The pound was the best performing major currency during the European session, despite a disappointing Confederation of British Industry trends / orders survey for January. The survey index came out at -2, whereas economists’ expectations called for a figure of 10. The pound gained 0.22% against the dollar to trade at 1.6474 nearer the 1.65 […]
(click to enlarge) The release of inflation figures for the fourth quarter in New Zealand surprised economists as they were expecting a drop in inflation by 0.1% quarter-on-quarter. Instead, inflation rose by 0.1% and the year-on-year increase came in at 1.6%. Although the rate of annual inflation does not represent a serious issue at this […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has continued trading upwards, corrective wave ii (coloured blue) ofthe bigger wave (v) (coloured red) has been developing. In the 1-hour chart we can see that the price was pushed towards the 0.8837 level yesterday, this move look corrective and that is why weare going […]
The daily chart showed bearish rejection at the upper limit of the ongoing channel around 1.6590 (on January 2) with a quite strong bearish engulfing candlestick. This was followed by bearish breakdown of the first support trendline located at 1.6490 where a descending high was established last week.Since then, the pair has been consolidating within […]
Overview: Since our last analysis, gold has been trading downwards, as we expected, the price tested the level of 1,242.90 on high volume (selling climax) according to M30 timeframe.We can also observe selling climax and testing of our FR 61.8 % at 1,244.00. Since the price has broken the level of 1,254.00, we may expect […]
USD/CAD Elliott WaveВ The USD/CAD pair has reached invalidation level in the early London session, we have slightly adjusted our waveВ count to get new fresh signal for this pair. In the 1-hour chart, we can see that we are looking at the waveВ (b) (coloured red) as already complete cycle at 1.0841 level, now while this […]
The bulls are pushing towards new price levels (1.1010) that haven’t been reached since September 2009 in reaction to the positive fundamental data from the United States and in Canada. Today,Comments by Fed’s watcher Jon Hilsenrath about the probability to reduce further monetary easing in the next week applied further bullish pressure against other currencies […]
Bullish movement above 1.3450 within the depicted bullish channel allowed the pair to reach further supply levels around 1.3650 and 1.3750, respectively. This was taking place until obvious bearish rejection was expressed at 1.3850 (failing to reach 100% Fibonacci Expansion at 1.3904). A breakdown of the depicted bullish channel took place shortly after (January 2). […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards, as we expected, the price rejected from the level of 1.6493 on high volume and tested 1.6233 on ultra high volume (selling climax). As you can see in the chart, our FE 161.8 % at 1.6480 held successfully and the price started downward […]
The double-top pattern establishedat testing of the level of 1.6600 (the upper limit of the expanding wedge)achieved its projection target (1.6350) one week later. The failure of the GBP/USD pair to break down 1.6350 allowed enough bullish momentum to be gathered to push again towards 1.6460. This price level provided a SELL entry shortly after […]
Stocks in Asia traded higher on Tuesday as the Bank of Japan begin its two-day meeting and China’s stocks dropped after the country’s central bank added funds into the financial system on Monday. In Japan, the benchmark Nikkei 225 index rallied 1.03% to 15, 802.85, while Tokyo’s Topix index climbed 0.38% to 1,298.81 points as […]
Gold dropped from its six-week highs on Tuesday, trimming recent gains as investors speculate over the impact the recent bullish streak may affect physical demand for the metal. Market participants are keeping a close eye on the next US Federal Reserve (Fed) meeting which has also sparked speculations. Gold deliveries for February delivery came in […]
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:Weekly Forex Outlook: 12/04/2024 – More inflation data on… April 12, 2024 CPI numbers due in the UK and Japan. China to also…Video market update for April 11, 2024 April 11, 2024 […]
The Dollar index continues to rise in an impulsive pattern making higher highs and higher lows. Prices are heading towards the previous highs resistance area of 81.50. The short-term trend remains bullish as the 80.40 support remains intact. The short-term trend will remain bullish, as long as prices trade above the purple trend line support […]
Today’s Support and Resistance levels: R3: 142.35 R2: 142.15 R1: 141.92 Current spot: 141.70 S1: 141.52 S2: 141.38 S3: 140.92 Technical summary: We are now at the expected resistance levels we set out yesterday. In the short-term we could still see the test of resistance at 141.92, as long as support at 141.52 and more […]
Today’s Support and Resistance levels: R3: 1.6355 R2: 1.6333 R1: 1.6316 Current spot: 1.6303 S1: 1.6283 S2: 1.6249 S3: 1.6214 Technical summary: With the break below 1.6403, we got the confirmation needed that the next impulsive decline towards 1.6129 and maybe even lower towards 1.6049 is developing. In the short-term we will ideally see resistance […]
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 […]
(click to enlarge) Following a brush with the near 3 ½ year low of 1180 dollars an ounce in December last year, gold has turned higher. The rally in gold during the new year has taken the price of the yellow metal from around the 1200 level to about 1250. If gold turns down once […]
Yen slumps after China liquidity injection Morning Report: 08.15 London • Whether connected or not, there was a notable slump in the yen this morning after China pushed money into its banks ahead of the Chinese new year. • The USD/JPY is up 0.5%, the EUR/JPY & GBP/JPY up around 0.39%. The AUD/JPY is […]
January 21st 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened higher today, recouping losses of the previous session as investors’ sentiment was lifted after the Chinese central bank took action in the money market to ease the nation’s cash squeeze. Closer home, Sky News reported that the IMF is on […]
Gold prices although managed to make a new higher high above $1,256, it did not manage to move much higher or touch the important resistance at $1,270. Prices look like they are taking another turn down and we should be very cautious as a short-term sell signal could be triggered once the purple trend lines […]
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General overview for 21/01/2014 08:40 CET Still the corrective price action in the range zone between the levels of 1.0927 – 1.0983 continues. The key to the downside is the golden trendline breakout, below the Weekly Pivot level and ideally below Intraday Support at the level of 1.0927. On the other hand, the upper golden […]
General overview for 21/01/2014 8:15 CET After finishing the corrective cycle, the price has broken above Weekly Pivot level and now the impulsive wave progression continues. The first intraday target would be the level of 142.15, where the previous wave (iv) area is. If this level is broken, then last SUPPLY ZONE between the levels […]
Overview As it was expected last week, more bullish signals would be expected in case ofclosing above the Resistance level of171.50. Today, as it is shown inthe H4 chart, the pair has already managed to break the Resistance level and close 4H above it.Currently,the pair is approaching the Resistance level of172.20 trying to break it […]
EUR/USD: As indicated by the Bearish Confirmation Pattern in the chart, the pair is weak and would continue to trend lower. The weakness of the EUR/USD is expected to continue irrespective of any short-term rallies in the market. The price would soon test the support line at 1.3500. USD/CHF: As indicated by the Bullish Confirmation […]
The dollar rose against the yen but was relatively stable versus the euro during today’s Asian trading. The dollar gained 0.36% against the Japanese currency, climbing to 104.54, as strength in risk assets such as the Nikkei also hurt the yen. The euro was little changed against the dollar at 1.3549, with most of the […]
Overview In the today’s H4 chart, silver is still stabilizing above the Support level of 20.00 after it could not break it last week, and currently it is bouncing from it towards the Resistance level of 20.20. So we still suggest waiting for closing above the next Resistance level in case of bouncing from the […]
China’s central bank injecting cash into money markets kicks up risk appetite overnight, propping Asian share markets. China’s interbank lending rates ease as the central bank attempts to prevent a cash squeeze ahead of the Chinese new year. This comes a day after Chinese growth for 2013 eased, indicating that the central bank there stands […]
