USDCHF: With USDCHF reversing almost all of its previous week losses to close higher at the end of the week, the risk is for the pair to recapture the 0.9126 level in the new week. Above here will trigger the resumption of its short term recovery offensive towards the 0.9200 level, its psycho level. A […]
In talking to prospective students at the sales events that I conduct it is always intriguing to see how many of them don’t use stops. The reasons vary widely why the majority of retail traders/investors don’t implement stops. Some don’t even know what a stop is and therefore don’t know any better. Others refuse to […]
Overview In H4 chart, the pair failed more than once to break the support level of 170.50 and it has been trading above that level since yesterday. In today’s H4 chart the pair bounced from the support area again and started to take a slightly upward move approaching the resistance level of 171.50 which […]
Daily chart: The USDX is to finalize the formation of the lower high pattern below the 200 SMA. The USDX intends to consolidate its bullish trend, but pressure from the bears increasingly manifested at current levels, so it is very likely for the bearish trend to rebound and USDX to fall back to the support level of […]
Daily chart: The GBP/USD has made a bullish rebound on the support level of 1.6326 and now this pair is trying to break the resistance level of 1.6447. If the pair manages to break that level, it is expected to rise to the level of 1.6540. The current movements show a clear indecision in the […]
Sterling was the star performer of the day following the release of much higher-than-expected retail sales for December. The data showed that UK consumers ratcheted up their spending in the run-up and during the Christmas period. The month-on-month increase was 2.6% compared to a 0.3% increase the previous month and much higher than a 0.4% […]
USD/CAD Elliott Wave For the last few days, the USD/CAD pair has been trading downwards, corrective wave (b) (coloured red) of thebigger wave [y] (coloured green) has been developing. In the 1-hour chart above, you can see that we are trackingdownward move from 1.0990 as FLAT correction inside wave (b) (coloured red). While the price […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading upwards, corrective wave ii (coloured blue) of thebigger wave (v) (coloured red) has started developing. In the 1-hour chart of the AUD/USD pair we can see that the price is pushing higher from 0.8776, and while the price stays above the 0.8750 […]
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. This led […]
The daily chart shows multiple bearish rejections at the upper limit of the ongoing channel resulting in an atypical bearish head and shoulders pattern. Despite Tuesday’s bullish reversal towards 1.6460 intraday resistance, a bearish engulfing daily candlestick was expressed on Wednesday indicating the strength of this price level as resistance. Yesterday’s daily candlestick failed to […]
(click to enlarge) The release of December retail sales showed that UK consumers ratcheted up their spending in the run-up to Christmas last year. The month-on-month increase was 2.6% compared to a 0.3% increase the previous month and much higher than a 0.4% rise that was expected by economists. The year-on-year increase was 5.3% in […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,244.90 on high volume.We can also observe that demand has entered the market at 1,237.50 which caused the price to start small bullish movement. If the price breaks the level of 1,245.00 on high volume, we may see re-testing […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6463 on high volume. As you can see in the chart, our FR 61.8 % at 1.6270 held successfully and the price started upward movement from that point. We can observe that strong demand […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Consumer sentiment sets the pace – 17 January 2013 Written by the easy-forex team Currencies The euro (EUR) remained range bound in yesterday’s trading session against the dollar. Support lied at 1.3582 while the pair could not move above 1.3647. Today’s US data releases may […]
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 […]
EURGBP- With a strong sell off underway, risk of further decline is envisaged towards the 0.8230 level, its Jan 09 2014 low. Further down, support comes in at the 0.8200 level, its psycho level where a breach will pave the way for a run at the 0.8150 level. A clearance of here will turn attention […]
Although the Dollar index doesn’t break above the important resistance area of 81-81.50, it still is a good sign that prices do not get rejected and do not pull back towards 80.40. The Dollar index continues to trade near its recent highs. 81.15 is short-term resistance that if broken could push prices towards 81.50. Short-term […]
(click to enlarge) Having peaked on December 31st just above the 145 level, the highest level since October 2008, the euro has dropped against the yen in the New Year. It made a more than 1-month low of 140.47 on 13th of January but has since bounced higher to 141.91. The 140.50 level should provide […]
Kiwi slips on quiet morning Morning Report: 08.45 London • Markets are quiet this morning, with a busy economic data set due in the afternoon. The one movement of note is on the NZD/USD which is falling back heavily this morning. • Elsewhere, the dollar pairs are generally softer, though so far movement is […]
Gold prices are making an upward bounce that is not impulsive. Prices are making an overlapping formation with positive slope and have reached the 38% Fibonacci retracement of the decline from $1,256 to $1,233. Prices are moving upwards in a corrective pattern within the purple trend channel as shown above in the one hour chart. […]
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General overview for 17/01/2014 08:10 CET There are two intraday counts possible here and the difference is in the top for the wave 2 red placement. – SCENARIO 1 – MAIN COUNT – In this point of view the top for wave 2 red has not been etablished yet as the wave c purple to […]
Today’s Support and Resistance levels: R3: 142.71 R2: 142.40 R1: 142.16 Current Spot: 141.97 S1: 141.84 S2: 141.53 S3: 141.39 Technical summary: It seems that wave ii ended just below our expected target between 143.09 – 143.17 as the top has been at 142.91. If the powerful wave iii has taken over we should see […]
During the previous US session, the number of weekly new unemployment claims fell slightly, while inflation came in line with expectations at a 1.5% annual pace, which was characterized as relatively tame. The Philly Fed business survey index of conditions in the mid-Atlantic region, beat expectations by coming in at 9.4 vs 8.6 expected by […]
General overview for 17/01/2014 07:50 CET The recent wave up turned out to be in three waves, so the labeling has been slighty changed, making the top at the level of 142.90 the end of wave b of an overall bigger in price and time abc Irregular Flat correction. The typical target for this kind […]
European markets have opened slightly higher today, reversing the previous session’s losses. However, gains are expected to remain subdued as investors eyed further corporate updates and macroeconomic data to get additional clues on the direction of the market movement. Closer home, investors look ahead to data that is expected to show that nation’s retail sales […]
When the European market opens, there will be French Gov Budget Balance.The US will release the most important economic data such as the US-Building Permits, US-Housing Starts, US-Capacity Utilization Rate, US-Industrial Production m/m, US-Prelim UoM Consumer Sentiment, US-Prelim UoM Inflation Expectations, US-JOLTS Job Openings, so amid the reports, EUR/USD will move with low to medium […]
Gold is witnessing a range bound trading. Higher levels it suffered with selling pressure, whereas lower level buying is supporting. Either side breakout will see direction on prices. This year as well, the yellow metal is trading in a bearish mode. Gold lost its safe heaven image after correcting 30% from its peaks. The falling […]
In Asia, Japan will release theConsumer Confidenceand the US will release some economic data such as US-Building Permits, US-Housing Starts, US-Capacity Utilization Rate, US-Industrial Production m/m, US-Prelim UoM Consumer Sentiment, US-Prelim UoM Inflation Expectations, US-JOLTS Job Openings. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but […]
The charts are indicating a bearish situation for GBP/USD. It seems a downtrend has already started. We assume more room for downside. Today traders are eyeing Retail sales data. Prices broke a 6-month trend line on daily closing basis and trading below 21 DEMA which adds more fuel to bears. In the daily charts, oscillators […]
