Trading recommendations and outlooks for today:В The weekly technical levels of the EUR/USD pair on January 13, 2014. Besides, the market was trapped between the level of 1.3600 and the 1.3725 level, consequently it expects:В First outlook: Buy (buy limit) above 1.3630 with the first target of 1.3690, it might resume to 1.3730.В Second outlook: […]
The weekly technical levels of the GBP/USD pair. В Overview:В As it is known, historic rates should be used to determine future prices. According to the previous events of the last week, the GBP/USD pair has still been moving between 1.6405 and 1.6550 for five days. It should be also noticed that the price has […]
The U.S. Dollar Index is battling hard with the important resistance area of 81-81.50 we are mentioning for so long. This is good for traders as it cofirms how important a resistance level is. There are two ways to treat such a situation. Either wait for the confirmation of the break out and go long, […]
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). Few days later, the bulls managed to break down the lower limit of […]
Gold prices are rising as expected from the first support area of $1,220 that was tested. Gold is most probably unfolding in an upward wave C that could put to the test the $1,275 resistance level. Our target for a complete wave C is $1,290 ($15 higher or lower). The $1,290 target is derived if […]
(click to enlarge) The announcement of much lower-than-expected nonfarm payrolls for December caused a temporary upset for the markets but its longer-term significance might prove questionable. Payrolls for December came in at only 74 thousand versus economists’ expectations of gains of 196 thousand. On a positive note, November’s nonfarm payroll figure was revised upwards to […]
Breakthrough above 1.6240-1.6300 took place at the end of November. 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 […]
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. A consolidation zone was established between 1.0575-1.0700 (the upper limit of which applied […]
By the end of 2013, the bulls managed to record a new annual high at 1.6576. This was achieved after stabilization of 1.6250 as a support level. Bearish pressure was applied at price level of 1.6590 to get the pair back again below 1.6460-1.6500 after the bulls managed to break through this zone for a […]
The main event of the day was the release of the all-important US nonfarm payrolls report which missed forecasts and caused the dollar to tumble. The December figure came in at a mere 74,000, contrary to predictions for a number of at least 197,000. There were even some predictions for a 250,000 increase in jobs […]
Overview: USD/JPY is consolidating with risks skewed lower as markets await 1,330 GMT U.S. December nonfarm payrolls (expected to have increased by 200,000) and unemployment rate (expected to stay unchanged at 7%). A very strong jobs report would raise worries that the Federal Reserve could wind down its bond buying at a faster pace and […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,237.37 on average volume. The price rejected successfully from our SR zone at 1,219.00. We can also В observe that strong demand entereted market at 1,223.00, which is a sign that selling at this stage looks risky. […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upward movement, as like we expected, price tested level of 1.6526 on average volume .As you can see on the 1H chart, price has been break our FE 38.2 % at 1.6500, so we may expect testing of next Fibonacci 61.8 % around the […]
Overview: GBP/JPY is consolidating as markets await U.S. nonfarm payrolls report. GBP/JPY is undermined by Japan exporter sales. But GBP/JPY downside is limited by buoyant EUR/USD undertone; demand from Japan importers; positions adjustment before weekend. Daily chart is mixed as MACD bearish, but stochastics is turning bullish near oversold area. Trading recommendation: The pair is […]
Overview:В NZD/USD is trading in a range as markets await U.S. nonfarm payrolls report. NZD/USD is supported by weaker dollar sentiment. But NZD/USD upside is limited by Kiwi sales in rebounding AUD/NZD cross, weak China economic outlook, soft commodity prices, positions adjustment before weekend. Daily chart is mixed as MACD is bullish, but stochastics is […]
Overview: USD/CHF is consolidating in a higher range as markets are awaiting the U.S. nonfarm payrolls report. USD/CHF is undermined by the weaker dollar sentiment, the franc demand in the soft EUR/CHF cross. But the USD/CHF losses areВ tempered by positions adjustment before the weekend. Daily chart isВ mixed as MACD is bullish, but stochastics turned bearish […]
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: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 […]
January 10th 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened higher today, as investors anticipated that the upcoming US nonfarm payrolls data would confirm strength of the US economic recovery. Closer home, investors awaited the release of UK industrial output which is forecasted to grow 0.4% MoM in November, the […]
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В General overview for 10/01/2014 CET The Very Strong Confluence Zone lower boundary at the level of 1.0871 has been hit, but higher prices has been rejected so far. This would mean, the top for the whole impulsive wave progression to the upside might be in place, because the rejection from the level of 1.0871 to […]
В General overview for 10/01/2014 09:35 CET The corrective cycle in wave (ii) green is still in progress; however, the first clues of a possible end of this cycle are visible and a an intraday downtrend might show up soon. Currently, in intraday time frame there are two possible counts for the corrective cycle and the […]
Commodities rise ahead of Payrolls. Morning Report: 08.15 London • Markets are generally subdued this morning ahead of US Non Farm Payrolls at 13.30. The dollar index is on the back foot, helping dollar pairs to rise and commodities to find some buyers. • Silver is up 0.92%, with gold up 0.52%. […]
Gold started the New Year on a firmer footing after bouncing off 6-month lows (1182.16) hit on December 31. Looking at the daily chart, gold has spent the last 10 days consolidating and hovering around the 23.6% retracement Fibonacci level of the move down from the October 28 high (1361.60) to the December 31 low […]
Today’s Support and Resistance levels: R3: 1.6621 R2: 1.6575 – Important resistance. Low of red wave i. R1: 1.6546 Current Spot: 1.6516 S1: 1.6483 S2: 1.6435 S3: 1.6397 Technical summary: The expanded flat scenario has worked well and as long as support at 1.6483 protects the downside we could see red wave c extend a […]
Today’s Support and Resistance levels: R3: 143.52 R2: 143.17 R1: 143.03 Current Spot: 142.83 S1: 142.56 S2: 142.26 S3: 142.04 Technical summary: We still think we are in the very early parts of the powerful wave iii lower towards at least 136.43. That said, we need to see the downside challenged soon, otherwise the risk […]
USD/CAD Elliott WaveВ The USD/CAD pair has been steadily trading upward for the last few days, extended iii wave (coloured blue)В of the bigger (a) wave (coloured red) has been developing.In the 1-hour chart above you can see thatВ yesterday price movementsВ makesВ us to think that wave .v (coloured blue) has completed the bigger wave iiiВ in the Ending […]
AUD/USD Elliott WaveВ The AUD/USD pair has been trading in a choppy downward move from the 0.9000 level, while this high holdsВ we are favoring to see more selling pressure in the final wave (v) (coloured red) that is currentlyВ developing. In the 1-hour chart above, you can see that pressure from 0.8952 is to high and […]
EUR/USD: В On this pair, the outlook that was seen yesterday remains unchanged. In the market, the current surge (upturn) in the price simply means that it is rising in the context of a downtrend. The downtrend is still a valid thing, and the price is not expected to go above the resistance line of 1.3650. […]
The US dollar regained its bullish momentum against the yen as markets look ahead to the nonfarm payrolls report due later in the trading day. The dollar had a volatile day on Thursday as focus switched from the European Central Bank and Bank of England policy announcements, and then US jobless claims data. As expected, […]
