The US dollar bounced back against the yen to recover losses made after disappointing US PMI data. On Monday, two reports showing service sector activity showed a slowdown in December. The more important ISM non-manufacturing PMI surprisingly declined in December to 53.0 despite forecasts for an increase to 54.5. The previous reading was at 53.9. […]
EUR/USD: The EUR/USD remains bearish. The bullish correction it experienced yesterday simply gave an opportunity to go short when the price went up in the context of a downtrend. The price would go on to touch the support line of 1.3550. A short trade is preferable here. USD/CHF: The USD/CHF remains bullish. The bearish correction […]
Daily Chart Despite very few movements, the Light crude oil continued the first day of the week with his bearish streak intending to close even below the 8/8 line (blue line), the same as its last line of support according to the lines of g, Murrey J math. However, at this point it is also the central […]
During the European session we expect such news releases as German Retail Sales m/m, German Unemployment Change, CPI Flash Estimate y/y, PPI m/m, and when the US market opens, there will be released such data as US Trade Balance, US IBD/TIPP Economic Optimism. Based on this fact, we predict the EUR/USD today will move in […]
During the Asian session, there will be such new releases as Monetary Base y/y, 10-y Bond Auction, and during the US session, there will be news releases like US Trade Balance, US IBD/TIPP Economic Optimism, so we predict that today the USD/JPY will move in low to moderate ways. TODAY’s TECHNICAL LEVEL : Resistance. 3 : […]
Daily chart: The USDX is forming a lower high pattern above the level of 80.62 and below the 200 SMA. We could assume that the USDX has made a clear turnaround movement, but bear in mind that the USDX has not yet formed a fractal. However, if the USDX manages to break the support level […]
Daily chart: The GBP/USD managed to fall to the support level of 1.6326 where it quickly made a bullish rebound that led to the rise to the level of 1.6400. However, the pair is forming a bearish pattern below the resistance level of 1.6447. If the pair manages to break the support level at 1.6326, […]
Gold keep on printing bear image on itself from last 2 years. The same picture remains in the new year 2014 as well. After holding the June’s low, gold made some pullback by lower level buying and standing above uneconomical levels. Gold was flying high after Markit’s service sector fell to 55.7 from 55.9. We […]
Technical outlook and chart setups: 1. The EUR/JPY pair seems to be preparing for a counter trend rally towards the 144.00/50 region. At the moment it is recommended to remain flat and prepare to initiate short positions at 144.00/50. 2. Resistance is at 145.00, while support is at 141.50 (intermediary) followed by 141.00 and 138.00, […]
Technical outlook and chart setups: 1. The single currency pair is testing the backside of the broken line of support at 1.4800/50. At the moment it is recommended to remain short with risk at 1.4950. 2. Resistance is at 1.4950, while support is at 1.4550 (intermediary) followed by 1.4350, 1.4200, and 1.4000, respectively. 3. The […]
Overview: Resistance and support of the NZD/USD pair are set at 0.8410 and 0.8120, respectively. As known, Fibonacci retracement is used to determine accurate psychological levels of support and resistance but it should be noted that the period of time should be taken into account, therefore in the daily chart the price has still […]
Overview: The USD/CHF pair has broken a major resistance at 0.9003. It should be noted that the new resistance was calculated and found at the level of 0.9080 and it is now approaching it in order to test it, therefore it will probably start upside movement at this area and recover again. So […]
Technical outlook and chart setups: 1. Gold attempts to extend its rally towards the $1,267.00/70.00 level for now. It is recommended to remain short with risk at $1,255.00 and also add fresh short positions here. 2. Resistance is at $1,267.00/70.00 for now, while support is at $1,182.00 followed by $1,180.00 and lower respectively. A break […]
European markets have opened mostly higher today, as investors grew optimistic after data suggested improvement in the performance of UK businesses and an increase in German retail sales. Further, the confirmation of dovish Janet Yellen as the next Fed Chairman also buoyed market sentiment. Closer home, the British Chambers of Commerce (BCC), in its quarterly […]
Overview: GBP/JPY is to trade in a lower range. It was ndermined by the weak EUR/USD andJapan’s exports. But GBP/JPY losses were tempered by the demand among Japan’s importers. Daily chart is negative-biased as MACD & stochastics are bearish. Trading recommendation: The pair is trading above its pivot point. It is likely to trade in […]
Monthly Chart Crude oil prices fell to 93.85 last week, thus beginning the new year with a sharp fall. There has been a lot of talk about more supply coming from Libya, and of course that is going to upset the balance of supply and demand, while at the same time to strengthen […]
Overview: USD/JPY is to trade in a higher range. The pair is underpinned by positive dollar sentiment (ICE spot dollar index posted 80.86 versus 80.58 early Friday) after Federal Reserve Chairman Bernanke gave upbeat assessment of the U.S. economic growth in coming quarters and stressed that the Fed can manage the exit from its easy-money […]
Overview: USD/CHF is to trade in a higher range. Underpinned by the positive dollar sentiment; Switzerland’s PMI dropped to 53.9 in December from 56.5 in November. But the CHF sentiment was soothed by the data suggesting that Switzerland’s KOF economic barometer rose to 1.95 in December from 1.85 in November. Daily chart is positive-biased as […]
Overview: NZD/USD is in range-trade. The pair is supported by the Kiwi demand on soft AUD/NZD, EUR/NZD, GBP/NZD crosses and on buoyant NZD/CHF cross. But NZD/USD is upside limited by positive dollar sentiment. Daily chart is positive-biased as stochastics are in bullish mode, MACD turned bullish. Trading recommendation: The pair is trading above its pivot […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downwards, as we expected, the price tested the level of 1.6363 (FE 161.8 %) on volume above the average. As you can see from the chart, according to the 1H chart, there is a selling climax, which is first sign of bullish continuiation.Since our […]
Overview From the shown H4 chart, last week the pair failed to break the support area consisting of support level 170.50 to continue its downward trend. From the today’s H4 chart the pair bounced from the support area again and started to take an upward move approaching the resistance level of 171.50. Currently, it is […]
Weekly Chart The USD/CHF closed the previous week with a bullish candle for more than 150 pips, from 0.8908 up to 0.8950, scrolling even above the center line of the trend channel. Today its line of the nearest support is located at 0.9033, from which this week could continue its upward trend until you find a […]
Overview: Since our last analysis, gold has been trading upwards, the price rejected from the level of 1,246.03 on lower volume. Price broke our FR 61.8 % (1,237.00) , which is sign that we may see larger bullish correction. There is always a chance that price may test previous swing high at price 1,220.00 before […]
The USD/CAD pair has been strongly bullish since September 16 when obvious bullish rejection was expressed on testing of 1.0250. As long as the USD/CAD pair doesn’t breach 1.0660 and stabilize above it, the intraday view remains negative towards 1.0600 and 1.0565. Daily fixation above 1.0575 enabled the pair to reach 1.0660 then 1.0700 which […]
The currency markets were dominated by risk aversion today as several key risk events are scheduled for this week – the Fed meeting minutes on Wednesday, European Central Bank and Bank of England policy meetings on Thursday and the all-important US nonfarm payrolls on Friday. As a result, the yen as broadly stronger today due […]
EURJPY extended lower early in Monday‘s Asian session, to reach a 2-week low of 141.48, due to a broadly stronger yen. The decline has stalled and the pair is hovering around 142.25, which is the 23.6% Fibonacci retracement level of the move from the November 7 low of 131.18 to the December 27 high of […]
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The daily chart shows the GBP/USD pair has been moving within an expanding wedge pattern since September 10. Daily breakthrough above 1.6240-1.6300 took place in December where another consolidation range was established between 1.6240-1.6450 untill the last bullish impulse was initiated towards 1.6570-1.6600 in an attempt of bulls to record new highs in 2013. The […]
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 […]
Gold continues to move higher towards our corrective bounce target $1,260-70. We believe that Gold prices are in a corrective upward pattern that will complete near $1,270-$1,300. Prices have short-term support at $1,225 and then at $1,210. Short-term resistance is found at $1,245 and at $1,270. Our exit short signal was given at $1,220 and […]
