The much-anticipated FOMC minutes late on Wednesday was a non-event and did not result in any strong moves for the US dollar as had been expected by some market participants. The minutes of the last Federal Reserve policy meeting in December did not reveal anything new and was more of a repeat of what Fed […]
During the Asian session, we predict the USD/JPY pair will move with low volatility because there is no economic data to be released in Japan. During the US trades, this pair will move with low to medium volatility, because the US will release some economic data such as US-Unemployment Claims, US-Natural Gas Storage, and the […]
The eurozone will release some economic data such as French Trade Balance, French 10-y Bond Auction, German Industrial Production m/m, Minimum Bid Rate with the ECB Press Conference. Please pay attention that during the ECB Minimum bid rate and after that the ECB press conference there will be lots of activity and volatility/ The US […]
Recovery in Europe benefits the export-oriented sectors of the Swiss economy. We could expect in 2014-2015, the global economy will shift into a higher gear. The economic recovery is now underway in the developed world and will gain additional momentum in the year of 2014. The US economy is expected to grow at a comparatively […]
Technical outlook and chart setups: 1. Silver has broken out the short-term resistance line in the past few trading sessions. Also it is seen to be back testing the line, which is support now at the $19.00/20.00 levels. It is recommended to initiate 50% long positions at the current level of $19.65; risk remains at […]
Technical outlook and chart setups: 1. Gold has broken out the short-term resistance line, as seen in the daily chart. Furthermore, the $1,250.00 level has also been probed by the bulls recently. The recommendations are to remain flat for now. 2. Immediate resistance is seen at the $1,267.00/70.00 level followed by $1,295.00, while support is […]
European markets have opened mixed today, ahead of monetary policy statements from the European Central Bank and the Bank of England due later in the day. Both central banks are expected to leave monetary policies unchanged, but the ECB might remind markets that it could ease monetary policy further if inflation stays too low or […]
Technical outlook and chart setups: 1. The currency pair has broken the shorter-term support trend lines as seen here in the 4H chart. A pullback is expected towards the 144.00/30 levels at least now. It is recommended to remain flat for now and prepare to sell around 144.00.30. 2. Resistance is at 145.50, while support […]
Technical outlook and chart setups: 1. The currency pair has stopped us out at 1.4950 in the past session. As seen in the weekly chart here, a former resistance at 1.5000 has also been broken. It is recommended to remain flat for now. The 1.5150 level is into focus now. 2. The next resistance is […]
Daily chart: It seems crude oil has found support in the area delimited by the 0/8 line (blue line) and the bottom line of its trend channel. However, we must be careful as the price could fall below 93.75 until it finds a new support line on the extreme of -2/8. Therefore, we can enter selling […]
Daily chart: Today the USD/CHF pair already surpassed the barrier of 0.9094 where there is the line 5/8 (green line). We believed that the same was an important resistance due to the fact that this is the top line of your range of trend and from which the upward trend in the medium and long term […]
The euro found itself on the back foot during today’s European session, losing 0.24% against the dollar to drop below 1.36 at 1.3594. The euro also gave back all the gains it made against the yen during the Asian session, falling 0.38% to 104.78. The euro’s weakness came ahead of the ECB meeting on Thursday. […]
USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading upwards, impulsive wave iii (coloured blue) of the bigger wave (a) (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.0607 toward 1.0685 level. Therefore, during the New York session this commodity currency has continued trading aggressively higher and at the […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has been trading side-ways, corrective wave ii (coloured blue) of the bigger wave (v) (coloured red) has been developing. In the 1-hour chart above you can see that wave i (coloured blue) has completed the cycle at 0.8891 and from there we can observe corrective structure that should […]
(click to enlarge) One of the major investment themes of 2014 is expected to be increased interest in European assets. 2013 saw significant inflows into European equities as the region exited recession in the second quarter of the year. Ireland successfully exited its 3-year bailout program recently. Looking for assets that have underperformed so far […]
Overview According to our previous expectations, the price’s close below the Resistance level 19.75 will give new opportunities for sell signals. Currently the metal has already managed to close below the Resistance level to trade below and open the way towards 19.50 as first target, then the metal must test the Support level 19.15 to […]
According to the today’s H4 chart and as it was expected, the pair must have taken new bullish signals in case of closing 4H above the Resistance level of 171.50 after it was tested yesterday. Today, the pair took an upward movement and has managed to break the strong resistance area at 171.50, but immediately […]
Overview: USD/JPY is expected to trade with bullish bias. Spotlight on 19:00 GMT Federal Open Market Committee meeting minutes as investors seek further insight into the Federal Reserve’s thinking on monetary policy. USD/JPY is underpinned by improved dollar sentiment (ICE spot dollar index last 80.86 versus 80.65 early Tuesday) and yen-funded carry trades amid positive […]
Overview: NZD/USD is expected to be in range-trade. The rate is supported by Kiwi demand on NZD/JPY cross amid reduced risk aversion; Kiwi demand on soft AUD/NZD cross. But NZD/USD upside is limited by improved dollar sentiment; concerns over weak China economic outlook. Daily chart is still positive-biased as MACD and stochastics are bullish, although […]
Overview: GBP/JPY is trading with bullish bias. The rate is supported by positive risk sentiment; demand from Japan importers. But EUR/JPY gains are tempered by Japan exporter sales. Daily chart is still negative-biased as MACD and stochastics are in bearish mode; five-day moving average is below 15-day MA and declining. Trading recommendation: The pair is […]
By the end of 2013, the bulls managed to record a new high for the year at 1.6576 stabilization of 1.6250 as a support level. The GBP/USD pair managed to bypass resistance zone 1.6460-1.6520 for few days until bearish momentum was expressed to get the pair back again below it. The market expressed bearish engulfing daily […]
Overview: USD/CHF is consolidating with bullish bias after hitting one-month high 0.9099 Tuesday. The rate is supported by improved dollar sentiment; franc sales on buoyant EUR/CHF cross. But USD/CHF gains are tempered by franc demand on buoyant CHF/JPY cross. Daily chart is positive-biased as MACD and stochastics are bullish, although latter is at overbought; five-day […]
Breakthrough above 1.6240-1.6300 took place in December when another consolidation range was established between 1.6240-1.6450. The last bullish impulse was initiated towards 1.6570-1.6600 in an attempt of bulls to record new highs in 2013. The last bearish rejection took place on Thursday (January, 2) when bearish pressure was applied near the level of 1.6600 […]
Overview: SSince our last analysis, gold has been trading downwards, the price tested again level of 1,223.00 on lower volume (volume leveling off). The price tested again Fibonacci Retracement level 38.2% at 1,223.00 (previous swing high). We can also observe selling climax at 1,226.00, which is a sign that selling at this stage looks risky. […]
The USD/CAD pair has been strongly bullish Since September 16. The current Bullish momentum started when obvious bullish rejection was expressed on testing of 1.0250 (shown on the depicted chart). Daily fixation above 1.0575 enabled the pair to reach 1.0660 then 1.0700, which prevented further bullish advancement recording a temporary high at 1.0735 when bearish engulfing […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Canadian dollar reached its two and a half year low – 08 January 2014 Written by the easy-forex team Currencies The euro (EUR) dropped down to 1.3596 and lost almost 60 pips against the US dollar (USD), after worse than expected inflation data came out […]
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 08, 2024 April 8, 2024 Potential for the breakout on the USD/JPY…. The material has…Market Comment – Stocks climb after sizzling US jobs report April 8, […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downward movement, price tested level of 1.6382 on very high volume (selling climax). As you can see on the 1H chart, there is a selling climax, which is the sign of bullish strength. Since our FE 161.8 % is held successfully, selling EUR/NZD looks […]
Bullish movement above 1.3450 within the depicted bullish channel allowed the pair to reach further supply levels around 1.3650 then 1.3750, respectively. This took place when obvious bearish rejection was expressed at 1.3800 (failing to reach 100% Fibo Expansion). Shortly after, the daily chart showed a broken ascending channel with a double top reversal pattern, […]
(click to enlarge) The Australian dollar was one of the weakest currencies of 2013, dropping 14.2% against its US counterpart. Worries of overvaluation, verbal intervention by the Reserve Bank of Australia to drive the aussie lower and some growth scares out of China, all contributed to push the currency down despite robust economic growth down […]
