Daily chart: USDX continues to rise and it seems that it is forming a lower high pattern below the 80.62 level. There are currently bearish patterns in this chart, as it is very likely that USDX will attempt to climb up the 200 SMA, which is situated near the 81.05 level. However, if USDX makes […]
Daily chart: GBP/USD formed a fractal above the 1.6447 level, when it tried to make a breakout at that level without success. Now, GBPUSD is forming a bullish pattern above the support level of 1.6326, but we must be vigilant against any fall of this pair, as GBPUSD moves within an area of great uncertainty. […]
European markets have opened higher today, as investors continued to cheer the US Federal Reserve’s move to modestly cut its stimulus and maintain the near-zero interest rates. However, investors would be tempted to take profits following sharp gains in the previous session. Closer home, the latest survey from GFK revealed that the nation’s consumer confidence […]
Overview: NZD/USD will continue straight from 0.8088 in H4 chart, 00% of Fibonacci retracement levels, as well it is probably going to form a double bottom at the level of 0.8084; therefore, the Kiwi is showing signs of strenght following the break of the highest level of 0.8088. So it will be a […]
OvervieW: USD/JPY is trading with bullish bias after hitting five-year high 104.37 this morning. The rate is underpinned by bullish dollar sentiment (ICE spot dollar index last 80.61 versus 80.01 early Wednesday) and yen-funded carry trades amid positive investor risk sentiment (VIX fear gauge fell 14.87% to 13.8; S&P surged 1.66% overnight to record-closing high […]
Overview: GBP/JPY is trading with bullish bias. The rate is underpinned by positive investor risk sentiment; demand from Japan importers. But GBP/JPY gains are tempered by Japan exporter sales. Daily chart is positive-biased as MACD is bullish, stochastics is reverting to bullish mode at overbought. Trading recommendations: The pair is trading above its pivot point. […]
Overview According to the attached H4 chart, the price’s close below the Resistance level 20.20 gave the metal new opportunities for sell signals. Currently the metal has already managed to close below the Resistance level to trade below and open the way towards 19.15 as first target, then the metal must test the Support level […]
Overview: From the today’s H4 chart, yesterday’s closing below the resistance level 171.10 gives the price an opportunity for a bearish move. As shown here, currently the price is trying to continue its bearish move by breaking the support level 170.00 and closing 4h below. In that case, we may get another opportunity for […]
OvervieW: NZD/USD is trading with bearish bias. The rate is undermined by bullish dollar sentiment. But Kiwi sentiment soothed by stronger-than-expected 1.4% on-quarter growth in New Zealand 3Q GDP (versus +1.1% forecast). NZD/USD losses are also tempered by Kiwi demand on NZD/JPY cross amid positive risk sentiment. Daily chart is negative-biased as stochastics is bearish, […]
OvervieW: USD/CHF is trading in higher range. The rate is underpinned by bullish dollar sentiment; franc sales on buoyant EUR/CHF cross. But CHF sentiment boosted by rise in Switzerland ZEW-Credit Suisse indicator of economic sentiment to three-and-a-half year high of 39.4 in December from 31.6 in November. USD/CHF gains are also tempered by franc demand […]
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 […]
An important resistance level was located around 1.0500. This was the key level for the previous week’s movement as many consolidation ranges were established between 1.0470-1.0550. 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 […]
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 […]
Overview: Since our last analysis, Gold has been trading downward movement, as we expected. The price tested level of 1,199.93 on high volume. Thus, we are still waiting for further downward movement. Anyway, in the 4H chart, we can observe supply on high volume which may be a sign for further bearish continuation. We are […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around the price of 1.6700. Thus, we are still waiting for further bullish movement and the testing of 1.7000. Since our FR 38.2% has held, the level of 1.6480 is the possible end of the bearish corrective phase. I have placed Fibonacci expansion […]
The dollar rose against most major currencies, as optimism about the prospects of the US economy and a rally in US risk assets made the greenback attractive. The dollar gained 0.11% against the euro to trade at 1.3661. The market was still trying to digest the ramifications of the previous day’s move by the Fed […]
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. Readings of the European Statistical Office disclosed three weeks ago, the European inflation was at 1.1% in September, in line with […]
Yesterday, we mentioned that our favorite wave scenario was that we are currently in wave 4 and a final wave down to new lows was anticipated. The confirmation would come if $1,220-$1,210 was broken. We also expected prices to break resistance or support levels after the announcement of the FED policy regarding the tapering of […]
Technical outlook and chart setups: The 4H chart shows that the metal has drifted lower to sub 19.20 levels today before pulling back. Immediate resistance level is the 20.25/50 region, followed by 21.00 and 23.00; while support is at sub 19.00 levels followed by 18.00. It is recommended to sell intraday rallies for now and […]
Technical outlook and chart setups: The 4H chart depicts that the metal has formed a new channel resistance after breaking the primary trend line; and is currently drifting lower. The potential downside extensions ate 1,178.00 and 1,156.00 for now. Resistance begins from 1,245.00, followed by 1,252.00 and 1,270.00; while support is 1,180.00. It is recommended […]
Technical outlook and chart setups: The currency pair has entered in a trading range as depicted here in the daily chart. The support region is 141.00, while resistance region is 143.00 respectively. The trade strategy should be now according to the sideways setup; Sell the resistance, Buy the support and trade the breakout. It is […]
Technical outlook and chart setups: The pair is proving to be an ideal candidate to initiate short positions around the 1.4750 levels. As seen here, the single currency pair has staged an impressive counter trend rally as expected and discussed yesterday. It is therefore recommended to initiate short positions around the 1.4720/50 mark. Risk shall […]
The Dollar index, as expected by our previous analysis, has picked up volatility and is trending upwards. After back testing the resistance at 79.80 prices have started an upward move that reached the 80.60-70 resistance area. Prices have paused the rise at that price level and are now pulling back. Short-term trend is up as […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – FOMC decides 10 billion monthly taper – 19 December 2013 Written by the easy-forex team Currencies The euro (EUR) picked up volatility on yesterday’s FOMC statement. The single currency moved from 1.3700 to 1.3812 against the dollar before collapsing again to 1.3651. The Federal Open […]
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 19, 2024 April 19, 2024 Potential for the further drop on NAS100The material has been…Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision… April 19, […]
EURUSD: It is surprising that this currency trading instrument is going in a negative correlation to the Cable. The price plummeted on Wednesday and has led to a renewed bearish bias. It is better to sell here. USDCHF: The price on this pair plummeted on Wednesday and has led to a renewed bullish bias. It […]
Markets take stock of Fed bounce Morning Report: 09.00 London • Markets leapt higher last night after the Fed announced it would begin tapering it’s asset purchases. Of more interest to markets was the guidance that interest rates are still likely to remain around zero for the foreseeable future. Stock markets shot back towards the highs on […]
(Click to enlarge) On the back of the Fed decision, the US dollar broke to a fresh 5-year high versus the yen, having traded at a level of 104.35. This is the highest for the US dollar since October of 2008. In order to derive some guidance for possible future targets should the dollar uptrend […]
USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading upwards, impulsive wave .iii (coloured black) of the bigger wave iii (coloured blue) has been developing. Yesterday, during the Asian and European session we could observe strong ascending movement from 1.0600 towards 1.0669 level. Therefore, during the New York session this commodity pair has continued […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading downwards, that is why we slightly changed wave structure inside the iv wave (coloured blue) of the bigger wave (v) (coloured red). During the Wednesday’s Asian and European sessions, we could observe descending movements from 0.8927 towards 0.8866 level. Therefore, during the New York session this major […]
