Strong bullish sentiment was found at the support area around 1.4830, which pushed the pair to 1.5700, the level where two prominent tops were established, until the bulls initiated another bullish impulse towards 1.6200 where other two prominent tops were established. It is worthy of note, that the market initially expressed a bearish rejection around […]
General overview for 27/12/2013 16:00 CET The anticipated last impulsive wave to the upside has been almost done now and when the corrective cycle in wave (iv) is finished, then another high will be made in impulisve fashion. The target currently fot the wave (v) is the level of 145.77. This count is valid as […]
General overview for 27/12/2013 15:45 CET As anticipated yesterday, the level of SUPPLY zone has been broken and the market is rising in impulsive fashion, just shy of the 61% Fibo level at 1.0676. This level is line in sand for the bears and if it is broken, then surely the next level of resistance […]
Overview: USD/JPY is trading with bullish bias. The break above 104.45 is a positive signal that has opened a path to 105.15. Daily chart is positive-biased as MACD and stochastics are turned bullish; five- and 15-day moving averages are advancing. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in […]
The most prominent support zone was located around 1.0250. On September 19, the pair expressed a false breakdown reaching 1.0180 where an obvious bullish rejection was expressed to get the pair back above 1.0250 again resulting in a bullish Hammer weekly candlestick. As expected, the bullish momentum was expressed at retesting of the lower limit […]
Overview: USD/CHF is expected to trade in lower range. The RSI advocates for further downside and is well directed. Daily chart is mixed as MACD is bearish, but stochastics is bearish at overbought. Trading recommendation: The pair is trading below its pivot point. It is likely to trade in a lower range as far as it […]
Readings of the European Statistical Office disclosed three weeks ago, the European inflation was at 1.1% in September, in line with preliminary projections, while it settled at 1.3% in August. This constituted to the recent bullish jump that took place on October 22. Around 1.3800, previous daily candlesticks represented indecision initiating a bearish retracement towards […]
Overview: GBP/JPY is trading in a higher range after hitting the high 173.9. The gains of the GBP/JPY pair are tempered by Japan exporter sales. The immediate trend remains up and the momentum is strong. Daily chart is positive-biased as MACD and Stochastic are bullish, stochastics is reverting to bullish due to oversold. Trading recommendations: The […]
Overview: NZD/USD is trading with bullish bias. A support base at 0.8145 was formed and it allows tthe pair for a temporary stabilisation. . Daily chart is positive-biased as MACD and Stochastic are bullish, stochastics is reverting to bullish due to oversold. Trading recommendations: The pair is trading above its pivot point. It is likely to trade […]
On October 23, the GBP/USD pair broke initially the 1.6200 level hitting the area of 1.6250. However, most of the bullish gains were lost when the pair established a Double Top reversal pattern around 1.6200-1.6250. Failure to break down the 1.5900 level was observed weeks ago. Instead, a bullish rejection led to another bullish […]
Daily chart. The Centre for Economics and Business Research (CEBR), a London-based economic consultancy, said that China will not overtake the US economy until 2028. According to the CEBR report, China is on its way to become the world’s largest economy in a much slower than previously expected pace. This is due to the relative slowdown […]
The euro stood out as the best performer during a lively European session on Friday, rising to new 2-year highs above $1.38. Thin volumes due to the holidays allowed for exaggerated moves. There were various headlines out of Europe which acted as a catalyst to the move higher in the euro today. There was data […]
Overview: Since our last analysis,Gold has been trading upwards, as we expected, the price tested the level of 1,215.53 (FE 100 %) on ultra high volume (buying climax). According to the 1H chart, Gold is in bullish corrective phase, so we placed Fibonacci expansion to find the levels for potential end of the bullish corrective […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, like we expected, the price tested the level of 1.6934 (met FE 161.8 %) on high volume. As you can see from the chart, we got selling climax (large volume) at price 1.6675 and after that we saw volume leveling off, which causes […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Currencies mixed ahead of holiday season – 23 December 2013 Written by the easy-forex team Currencies The euro (EUR) has rebounded against the US dollar (USD) after touching 1.3636 on Friday. The single currency is currently at 1.3681 and may be looking at resistance at […]
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 […]
The Dollar index has been rejected at the important resistance we mentioned in our previous analysis at 80.70-81 range. Prices needed to break above that price level for the intermediate-term trend to be challenged. However, bulls were not strong enough to push prices higher. The Dollar index has pulled back inside the downward sloping long […]
Gold is in downtrend within a downward sloping trend channel and we believe it currently makes its upward wave 4 bounce as shown in the chart below. Prices are now at $ 1,210 and we believe that the upward bounce is most probably over. Prices are expected to turn downwards towards $1,180 to complete our […]
Today’s Support and Resistance levels: R3: 1.7007 R2: 1.6960 R1: 1.6873 Current Spot: 1.6839 S1: 1.6803 S2: 1.6748 S3: 1.6708 Technical summary: Resistance at 1.6869 has been tested (the high has been 1.6873). Look for a correction in green wave ii towards at least 1.6708. That said, if support at 1.6803 protects the downside for a […]
Today’s Support and Resistance levels: R3: 145.62 R2: 145.13 R1: 144.73 Current Spot: 144.49 S1: 144.24 S2: 143.61 S3: 143.29 Technical summary: Trying to pick the top has proven to be a hard nut to crack. However, the upside should be limited from here. We will likely not see more than 144.73 tested, but to […]
Stocks stall while dollar sinks Morning Report: 07.15 London • In this small window between Christmas and New Year, markets are showing some movement. While stock markets are unchanged, the dollar index is falling heavily. • The dollar pairs are capitalising, with commodities are seeing the biggest movements. Silver continues to recover well, while […]
GBPJPY spiked above 172.00 on Friday after breaking above key resistance level at 171.00 on Thursday. The pair is quickly approaching 173.00 and the strong bullish momentum may potentially extend the surge towards 174.00 given that the pair is in a long-term up-trend, namely since June 2012. This is when the pair began the uptrend […]
EUR/USD: This pair has rejected the recent bearish pull on it. The price broke upwards, cutting through the market line of 1.3750, while going further upwards. Clearly, the bias has turned bullish and short trades no longer make much sense now. The EMA 11 has crossed the EMA 56 to the upside, while the Williams’ […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading upwards, impulsive wave i (coloured blue) of the bigger wave (c) (coloured red) has been developing. In the hourly chart above, we can observe that the upward move from 1.0580 (Monday’s low) towards 1.0650 was diagonal structure and we can consider this move as the […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has been trading upwards, just like we expected, corrective wave c (coloured blue) of the bigger wave (a) (coloured red) has been developing. After a few days in a downward move from 0.8957, this major currency pair found support at 0.8875 yesterday during the late Asian session, and from there, […]
Asian equity markets rallied on Friday following a strong performance by US markets overnight. Upbeat data on initial jobless claims on Thursday suggested that the overall US recovery seems to be on track, underpinning the Fed’s decision last week to begin tapering its bond purchase program. The number of Americans filing for unemployment benefits fell […]
Overview: As expected, the USD/CHF pair could not break the major resistance 1 at the 0.8990 level, therefore the pair has rebounded on its resistance 1 and should to resume to 0.8910 in order to test the 50% Fibonacci retracement levels because the market will indicates a bearish opportunity at the level of 0.8905 […]
Overview: The NZD/USD pair has set a support at the level of 0.8103 and a resistance at the 0.8375 level on December 27, 2013. accordingly to previous events, the price has still been trapped between the value of 78.6% Fibonacci retracement levels (0.8375) and the value of 50% Fibonacci retracement levels at the 0.8103 […]
Daily chart The monthly crude oil production in the U.S. in the next year will exceed the volume of imports for the first time since February 1995, according to estimates released today by the Energy Information Agency. Meanwhile, the black gold is closer to the psychological level of $100 per barrel, after the opening of […]
Santa rally continues on the stock market after the US jobless claims fell more than forecast. Jobless claims turned down by 42k, the number stood at 338,000, forecast numbers had been 346,000. The data shows extremely strong. Gold made high at $1,215.5 yesterday. The yellow metal came back to the level of $1,200 and surprisingly […]
