General overview for 06/01/2014 09:40 CET The corrective cycle in wave (ii) black has not been finished yet and it looks like more complex and time consuming cycle is ahead. The most important level now is labeled as the Key Level and this is where I expect the correction to be finished. Any breakout above […]
It will be a busy week as the first full trading week of 2014 kicks off with several key risk events. Monday began with releases of Euro zone services PMI data. The Markit services PMI final reading for December was unchanged at 51.0 and in line with expectations while the composite PMI was also unchanged at […]
Pound drops on austerity extension Morning Report: 08.30 London • This morning, this pound is suffering after UK Chancellor announced an extension of austerity measures. The GBP/JPY is off by 0.56%, with the GBP/USD down 0.37% and the EUR/GBP up 0.45%. • The yen pairs are generally lower, though the USD/JPY is off […]
January 6th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened slightly higher today, as markets struggled for direction amid thin trading volume, as investors braced themselves for the final countdown to the New Year. Markets in Germany were closed while those in London, Paris and Brussels will close around midday. […]
Today’s Support and Resistance Levels: R3: 1.6548 R2: 1.6508 R1: 1.6461 Current Spot: 1.6447 S1: 1.6411 S2: 1.6366 S3: 1.6285 Technical Summary: With the break below important support at 1.6443 we knew that the expanding leading diagonal could not be the correct count. Therefore, we were forced to adopt a much more negative count. This […]
EUR/USD: The EUR/USD was able to reach the forecasted target at 1.3600 on Friday. The outlook for this week is bearish. The price is now trading below the resistance line at 1.3600, going towards the support line at 1.3550. It should be noted that the aforementioned resistance line would act as a near-term barrier for […]
Today’s Support and Resistance Levels: R3: 142.36 R2: 142.03 R1: 141.83 Current Spot: 141.65 S1: 141.24 S2: 140.80 S3: 140.36 Technical Summary: We now have a clear five wave decline from the high 145.69. Short-term we need a little more downside to end the five wave decline and we will be looking for a continuation […]
AUD/USD Elliott Wave We have seen bearish AUD/USD pair since last week, from last Friday prices have still been favoring for more downward movements when development of the corrective wave (iv) (coloured red) complete. In the hourly chart you can see that we are tracking strong ascending movements from 0.8842 as the final leading diagonal .c of y wave. We are […]
USD/CAD Elliott Wave Since our last forecast the USD/CAD pair has been trading slightly lower, corrective wave (e) (coloured red) of the bigger wave [x] (coloured green) has finished developing. On the 1-hour chart you can see that USD/JPY has completed the Triangle wave [x] at 1.0580 and from there we can see upward movements above 1.0600 that is […]
The yen extended gains against the dollar and the euro, while the Nikkei fell over 2% as Tokyo markets began their first trading day in 2014 after an extended holiday. Market sentiment was damp today after data released from China showed that service sector activity slowed to the weakest level in 2 years, fuelling concerns […]
Today the EUR/USD will move in moderate volatility during the European and the US market session, because when the European market opens, they will release some news like German Prelim CPI m/m, Spanish Services PMI, Italian Services PMI, Final Services PMI, Sentix Investor Confidence, and when the US market session starts, they will release some data […]
The USD/JPY today will move in low volatility during the Asian session but will move low to medium volatility during the European and the US market session, because there is no data release from Japan expected during the Asian session but during the US market session some data like US Final Services PMI, US ISM Non-Manufacturing […]
Daily chart: The USDX has established itself over the level of 80.62, after it made a breakout there last Friday. Now, it is very likely that the USDX will rise to the 200 day moving average near the level of 81.05. However, this is expected to begin forming a bullish pattern below the 200 SMA […]
Daily chart: The GBP/USD has extended its drop below the resistance level at 1.6447 and is now very likely to fall to the support level of 1.6326 due to the strong weakness that this pair presents currently. If the pair manages to break the support level at 1.6326, it’s expected to fall to the level […]
Gold continues its upper move after hitting the upper high at $1,182. It holds the June’s low and close above the uneconomical level $1,200, which is a bull factor. In the weekly and daily charts, oscillators indicate positive divergence, hourly chart gives an overbought sign. We are still on the bearish note for the level […]
Technical outlook and chart setups: 1. Gold has risen past the $1,230.00 level after printing lows at $1,182.00 last week. Please note that it is at the 0.618 fibonacci resistance in $1,230.00/40.00 region. 2. Immediate resistance is at $1,245.00 followed by $1,250.00, $1,267.00 and higher, while support is at $1,182.00 followed by $1,180.00, respectively. 3. […]
Technical outlook and chart setups: 1. Silver rallied back above the $20.00 level after printing lows at $18.70/80 levels last week. It is recommended to remain flat at the moment. 2. Immediate resistance is at $20.50 level followed by $21.50 (the fibonacci 0.618), $23.00 and higher, while support is at $18.70/80 followed by $18.00, respectively. […]
Technical outlook and chart setups: 1. As seen here, on the 4H chart, the single currency pair has broken its immediate line of support. Recommended trade strategy should be to sell on rallies. It looks like a meaningful top has been set at the 145.50 level. 2. Immediate resistance is in the 144.30/50 region followed […]
Technical outlook and chart setups: 1. The single currency pair has been stalled at the 0.786 retracement/resistance of the down swing from 1.4900 to 1.4350 recently. It is still recommended to remain short and also plan to add more around the current price 1.4850/60. 2. Immediate resistance is at the 1.4900/50 level, while supports are […]
Trading recommendations: According to the previous events of EUR/USD pair in the Forex market, the price has still been trapping between the level of 1.3510 and the 1.3663 level. Therefore, it will be advantageous to buy above 1.3505 with a first target 1.3663 in order to test the weekly pivot point. It may resume to […]
The weekly pivot point: The movement of pivot point between resistances and supports: If price is at pivot point, watch for a move back to resistance 1 or support 1. If price is at resistance 1, expect for a move to resistance 2 or back towards pivot point. If price is at […]
European markets have opened lower today, tracking losses in Asian markets, after a private report indicated a slowdown in China’s service-sector activity growth in December. Closer home, investors would keep a close eye on economic data which might show that the nation’s services PMI remained unchanged at 60.0 in December from the previous month. Earlier, […]
Daily Chart Oil prices collapsed on the first trading day of 2014 as Libya prepared to restart a major oilfield, and with speculation of a sharp rise in crude stockpiles in Cushing, Oklahoma. Prices were also undermined by expectations of a further dip in fuel demand as a winter storm bore down on the northeastern […]
Daily Chart Today the USD/CHF continues its upward trend and, as mentioned in our comment yesterday, came to the area of 0.9033 as the last peak was 0.9035 . However taking into account that the line 4/8 of g, Murrey J is a key area of support and resistance, the price precisely unwinds this […]
Overview: Since our last analysis, Gold has been trading upwards, the price rejected from the level of 1,182.14 (met both our down stations) and tested level of 1,238.33 on volume above the average. We got FR 61.8 % at the 1,237.00 price, which was held successfully, so we may expect further bearish movement. We can […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards, the price tested the level of 1.6453 on volume above the average. As you can see from the chart, according to the 1H chart, we can observe volume leveling off, which is good sign that we may see bullish continuiation. I placed Fibonacci […]
Risk aversion dominated the currency markets as investors remained cautious ahead of the weekend. Trading volumes remain thin as markets are slowly trying to get into swing after the holidays. After yesterday’s negative start to the New Year, leading to a tumble in the dollar against the yen, and the euro sliding against the dollar, […]
(click to enlarge) The Institute of Supply Management’s (ISM) release of the December manufacturing survey was one of the very first economic releases of the first trading day of 2014. The ISM manufacturing and non-manufacturing surveys have a good track record of predicting economic growth in the United States and are therefore very interesting to […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Sterling declines after recording a two year high – 03 January 2014 Written by the easy-forex team Currencies The euro (EUR) continues to slid against the US dollar (USD) and looks that it found a strong support at 1.3635. The pair looks that lost its […]
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 24, 2024 April 24, 2024 Potential for the downside movement on the NAS100The material has…Forex forecast 04/24/2024: EUR/USD, USD/CAD, Oil and Bitcoin… April 24, 2024 We […]
