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 […]
Daily chart The American dollar recoveredalmost 70%of its losses seen on Wednesday against theSwiss franc. However, it was not able to close below the line 4/8 (blue line) which is also where you will find the line 50.0 Fibonacci retract. Therefore, in our opinion, the picture remains bearish and it is a good time to […]
Daily chart Looking at the daily chart we can see that this Thursday the Crude Oil closed with a candle of indecision, which confirmed what we mentioned before, and we do not yet have a picture of prevailing. However due to that the current price is on its neutral line of 4/8 (blue line), also […]
Overview: The resistance of the GBP/USD pair had been already set at the level of 1.6445 (the weekly pivot point on January 17, 2013) and a minor resistance has set at the 1.6373 level. Therefore, according to the previous events, the price has still been moving between 0.6370 and 0.6285, then it should be noted […]
EUR/USD: The EUR/USD has been bearish this week. The bulls are making desperate attempts to push up the price, but as long as it stays below the resistance line of 1.3700, the bearish bias is valid.В In the face of the extant bias, it is possible for the price to reach the support line of […]
Overview: The NZD/USD pair has been making an upside movement from the level of 0.8255 to 0.8275, and today the market has also set a lower price at the 0.8296 level. As it is known, it will probably repeat itself again, hence the strength of the trend for pair was an uptrend, then the strength […]
Overview: USD/JPY is expected to trade in lower range. It is underpinned by negative dollar sentiment (ICE spot dollar index last 81.01 versus 80.67 early Wednesday), yen-funded carry trades amid positive risk sentiment (S&P hit record high 1850.84, closed higher 0.52% at 1848.38 overnight) on signs of the U.S. economic growth. The New York Fed’s […]
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 Yesterday indicating the strength of this price level as resistance. Sellers should be watching for today’s […]
The USD/CAD bulls are pushing towards new price levels (1.0980) that haven’t been reached since September 2009 asMonetary market suspicions are being stressed byquite weak fundamental conditions in Canada. The USD/CAD pair achieved multiple breakouts of several resistance levels, allowing the pair to push towards 1.1100 (hasn’t been hit yet) The next prominent resistance level […]
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). Breakdown of the depicted bullish channel took place shortly after. This led to […]
Bearish pressure was applied near the level of 1.6600 (the upper limit of the expanding wedge) resulting in a double-top pattern which 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 […]
Overview As shown in today’s H4 chart, the metal is stabilizing between the Support level 20.00 and the Resistance level 20.20 after its failure to break the Support level again last week. Currently, we should wait for it to retest the Support level 20.00 again and close below in order to get the bearish move […]
Overview From the today’s H4 chart, yesterday’s closing below the Resistance level 152.85 gives the price an opportunity for a bearish move after its failure to break the Resistance level once again. As shown in the chart, the price is trying to continue its bearish movecurrentlyby breaking the Support level 170.50 and closing 4h below. […]
Market action was relatively subdued in the European session and focus was mostly on the US dollar which was steady as investors looked ahead to the US CPI data and jobless claims numbers. Europe also released CPI data, with Eurozone inflation flat in December at 0.8% as expected. Market action was relatively subdued in the […]
USD/CAD Elliott WaveВ Since our last forecast, the USD/CAD has continued trading downward, just like weВ expected,В correctiveВ wave (b) (coloured red) of the bigger wave [y] (coloured green) hasВ been developing. In the 1-hour chart you can see that we are trackingВ descendingВ moveВ from 1.0991 toward 1.0918 as corrective wave a of the bigger wave (b), and while priceВ stay below […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,242.70 on average volume.We can also observe that demand has entereted the market at 1,233.80 which caused the price to start small bullish movement. If the price breaks the level of 1,256.00 (FE 61.8) on high volume, we may […]
AUD/USD Elliott Wave The AUD/USD pair continued trading downwards yesterday, wave i (coloured blue) of thebigger wave (v) (coloured red) was developing. In the 1-hour chart above you cansee that we are looking at the downward move from the 0.9085 level, as the first extendedwave of the final (v) wave, RSI is showing divergence and […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6393 on volume above the average. 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 […]
(click to enlarge) Today’s employment report for Australia during December contained some negative surprises for analysts. Instead of creating around 7,500 jobs during the previous month as economists had expected, the Australian economy actually shed 22,600 jobs. The job losses were the biggest since March of 2013, when the economy lost 33,800 jobs. November’s employment […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Volatility picking up in markets after holiday freeze – 15 January 2013 Written by the easy-forex team Currencies The euro (EUR) dropped on yesterday’s trading session against the dollar. The single currency has fallen from 1.3698 to 1.3635 hinting at a reversal of its bullish […]
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:Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar…Forex forecast 04/08/2024: EUR/USD, GBP/USD, USD/JPY, Gold… April 8, […]
General overview for 16/01/2014 10:40 CET The anticipated yesterday move upwards in this pair has been initialized after corrective cycle of abc Irregular Flat subwave had been done. The current target for this move is the SUPPLY ZONE, but first the intraday resistance at the level of 142.90 must be taken out. On the other […]
General overview for 16/01/2014 11:00 CET Another high has been made yesterday and it has been labeled as the current top for the wave V black. From that high price has made an impulsive decline that looks like a Leading Diagonal structure and currently market is in the corrective cycle of wave 2 red. Any […]
Aussie collapse on employment shock Morning Report: 08.45 London • This morning, the Australian dollar is dropping heavily after employment change data came in well below estimates. The AUD/USD is down 1.34%, while the AUD/JPY is off by 1.17%. • Commodities are also suffering, with gold down by 0.33% and silver off […]
AUDUSD tumbled to a new 3-1/2 year low in the aftermath of dismal Australian jobs data on Thursday. Job creation declined by 22,600 last month, following November’s revised 15,400 gain, missing forecasts for a 7,500 increase. Bearish sentiment in the pair remains strong. Since October 2013, AUDUSD has been consistently carving out lower peaks and […]
