Daily chart: GBPUSD is forming a bearish pattern above support at the 1.6326 level. Now, it is very likely that this pair will begin to make slow movements, but in favor of the current intraday trend (bearish), because it is normal for this pair make a long correction overall trend in this chart. If the […]
European markets have opened mostly lower today, amid persisting concerns that the US Federal Reserve might wind down its support for the economy. However, the downside might be capped following three days of losses. Closer home, a survey conducted by Markit Economics and Knight Frank revealed that the UK headline house price sentiment index rose […]
Overview: Pair: USD/CHF. The price is probably going to form strong support at 0.8715 (below 61.8% of Fibonacci retracement levels in the weekly chart). It formed the last bearish wave for the last month, and the level of 0.9055 acts as strong resistance. Thus, it should be noted that the level of 0.9050 is strong […]
Forecast: EUR/USD: It should be noted that we have got a weekly pivot point at the level of 1.3800. In addition, a tiny gap has opened above the weekly pivot point. Therefore, the market will probably indicate a bearish opportunity at the level of 1.3800 and the weekly resistance will act as strong resistance […]
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Overview As it was expected yesterday, the metal would go downward in case of breaking the Support level of 20.20. Yesterday, the metal already broke it and currently is trading below this level. Presently, the pair is approaching the support level of 19.50 and is testing it continuing the bearish move. If the metal manages […]
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 swing […]
The price zone of 1.3400-1.3460 represented a valuable supply zone that kept the price below for few months. However, a significant bullish support was present around 1.3100 leading to a bullish breakout pattern. According to readings of the European Statistical Office disclosed three weeks ago, the European inflation was at 1.1% in September, in line […]
Five months ago, a prominent bottom was established around 1.0260. This happened after the intensive bearish momentum that led to the monthly low at 1.0254. An important key level was located around 1.0505. This was the key level for the previous weeks movement as the re-closure below it enabled the pair to break down 1.0455 […]
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 […]
Overview: USD/CHF is consolidating with bearish bias after hitting a two-year low. USD/CHF is undermined by flows to haven CHF amid increased risk aversion. But USD/CHF losses are tempered by franc sales in rebounding EUR/CHF cross. Daily chart is negative-biased as MACD is bearish, stochastics stays suppressed in the oversold area; the 5- & […]
Overview: NZD/USD is trading in a range. It is undermined by Kiwi sales in soft NZD/JPY cross amid increased investor risk aversion. But NZD/USD downside is limited by more hawkish-than-expected Reserve Bank of New Zealand’s Monetary Policy Statement as the central bank holds the cash rate at 2.5% but reaffirms that the rate will be […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1.236.00 on volume above the average. We are still waiting for further downward movement. In the daily chart, we can observe supply bar on volume above the average. We are still likely to see it testing […]
Overview: GBP/JPY is trading with risks skewed lower. It is undermined by increased investor risk aversion; Japan exporter sales. But GBP/JPY losses are tempered by positive euro sentiment; demand from Japan importers. Daily chart is still bearish-biased as MACD is bearish, stochastics stays elevated in the overbought area; the 5- & 15-day moving averages are […]
The euro was little changed against the dollar during today’s European trading at 1.3782, despite poor economic news that was announced concerning industrial output in the single currency area. Specifically, industrial production for the Eurozone during October fell a surprising 1.1% month-on-month against expectations of a 0.3% rise. The drop came on the back of […]
The Dollar index remains under pressure. Prices are sliding lower as the trend remains downward. Prices have fallen slightly below support of the 61,8% Fibonacci retracement. The bullish scenario that is expecting a trend reversal is losing its chances to success, the deeper downward move. The bullish scenario will be canceled if prices break below […]
Technical outlook and chart setups: The metal has raised towards the 0.382 fibonacci resistance at 20.50 levels as depicted in the daily chart. It is recommended to initiate at least 50% short positions now, with risk at 21.70 levels. Resistance levels are 21.00, followed by 21.50, 22.00 and higher; while support is at sub 18.00 […]
Gold prices have paused their rise from 1,210 exactly at the 38% Fibonacci retracement of the 1,360-1,210 decline. At the same price level there is also the broken Head-and-Shoulders neckline that is being back tested. Resistance is strong in the 1,260-70 area. If it is broken upwards, we could see a push towards 1,300. This […]
Technical outlook and chart setups: The metal has paused after hitting 1,270.00 recently. As depicted here, this is the 0.382 fibonacci resistance level of the fall between 1,370 and 1,210 down swing. Lined up resistance levels are 1,280.00, 1,305.00, followed by 1,360.00 and higher; while support levels are at 1,210.00 and 1,180.00 respectively. It is […]
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:Market continues to price in a plethora of rate cuts for… April 17, 2024 Market is still in monetary easing mode despite fewer rate…Video market update for April 17, 2024 April […]
Overview: EUR/JPY is expected to rebound. It is undermined by increased investor risk aversion; Japan exporter sales. But EUR/JPY losses are tempered by positive euro sentiment; demand from Japan importers. Technical comment: Daily chart is still positive-biased as MACD is bullish, stochastics stays elevated in the overbought zone; the 5- & 15-day moving averages are […]
Overview:: EUR/USD is consolidating with bullish bias after hitting the six-week high of 1.3811 Wednesday. It is supported by positive euro sentiment on diminished expectations that the European Central Bank will ease monetary policy further–ECB’s Coeure said Wednesday that the central bank sees no need to deploy “spectacular” measures, given its outlook for a gradual […]
(click to enlarge) The Euro has been on an impressive string of gains against the US dollar since the beginning of December. There have not been any significant reversals or tests of this move, hence the support level is probably around the 1.3527, which has been the low so far for December or the base […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Sterling trades near its two year high – 10 December 2013 Written by the easy-forex team Currencies The euro (EUR) advanced even higher during yesterday’s session and touched its monthly high at 1.3767 against the US dollar (USD). The single currency is now trading around […]
Technical outlook and chart setups: The currency pair is holding resistance at 142.00 levels for now. It is recommended to initiate short positions between 141.60/70 levels with a risk at 142.50/60 from here on. As depicted here in the 4H chart view, supports are spread through 138.50 levels, followed by 137.00 and 134.00 respectively. The […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading downwards, corrective wave c (coloured red) of the bigger wave (X) (coloured blue) has been developing. Yesterday, during the Asian and European session we could observe descending movement from 1.0615 towards 1.0583. Therefore, during the New York session this commodity pair did not manage to hold […]
Today’s Support and Resistance levels: R3: 1.6798 R2: 1.6735 R1: 1.6689 Current Spot: 1.6655 S1: 1.6626 S2: 1.6581 S2: 1.6522 Technical summary: We did see a break above resistance at 1.6750, which confirms the uptrend. However, the following correction is deeper that would be expected. That could imply two things, that a series of waves […]
Today’s Support and Resistance levels: R3: 143.22 R2: 142.78 R1: 142.34 Current Spot: 141.81 S1: 141.33 S2: 140.95 S3: 140.40 Technical summary: Support at 140.99 did more or less protect the downside as we expected. We did see a slight dip below 140.99, but it was not sustained and we are now in the final […]
AUD/USD Elliott Wave Since our last analyses, the AUD/USD pair has been trading downwards, that’s why we moved to our alternate wave count that shows more bearish movements in the b wave (coloured red). During the Wednesday’s Asian and European sessions, we could observe descending movement from 0.9151 towards the 0.9086 level. Therefore, during the New York session this major […]
Technical outlook and chart setups: The currency pair is testing the outer support line in the daily chart view depicted here at 1.4490/1.4500 levels. It is still recommended to initiate long positions with a risk at 1.4400 from here on. The resistance is fixed at 1.4900 levels; while supports are spread through 1.4350, followed by […]
