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 preliminary […]
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 […]
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. An important resistance level was located around 1.0500. This was the key level […]
General overview for 23/12/2013 10:50 CET The corrective cycle of wave iv black is still not finished and more downside wave progression is being expected. A possible shape of the overall wave (c) blue is abc Irregular Flat correction, that should complete into 140.90 level support. In this case wave iv black would be a […]
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 11, 2024 April 11, 2024 Potential for the further rally on USD/JPYThe material has been…GBP/USD. April 11th. The US inflation report shocked the… April 11, 2024 […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – EU loses AAA rating – 20 December 2013 Written by the easy-forex team Currencies The euro (EUR) has been on a bearish trajectory since the FOMC statement on Wednesday. The announcement of a USD 10 billion taper has pushed the value of the dollar higher […]
Gold is making an upward bounce after reaching near its 1,179 lows. Prices remain in a downward trend in all time frames and this upward bounce is still considered corrective. Prices continue to trade below the trend line resistance levels and the final 5th wave we believe we are in has still more room to […]
General overview for 23/12/2013 10:30 CET After last week analysis, a new high has been made as anticipated and the market retraced impulsivly down. However, there are still two possible scenarios here and the difference between them is in top for wave v black placement. – SCENARIO 1 – Main Count – Current wave progression […]
As expected by the Dollar index, prices are starting to make a pull back test. We have seen the initial bullish signal once the triangle was broken. Now bulls need to show more signs of strength in order to confirm that trend has reversed. Short term support is found at 80.40-30 and short term resistance […]
December 23rd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened higher today, building on their Friday’s good show and tracking today’s gains across Asian markets. Investors also increased their exposure to equities after the IMF upgraded its outlook for the US economy. Meanwhile, economists expect the US personal spending and […]
Today’s Support and Resistance levels: R3: 1.6808 R2: 1.6749 R1: 1.6708 Current Spot: 1.6665 S1: 1.6630 S2: 1.6597 S3: 1.6569 Technical summary: Not much is happening here. We are still looking for one last rally higher towards 1.6869 to finish the leading diagonal. In the long term we are looking for much higher levels, but […]
Today’s Support and Resistance levels: R3: 142.89 R2: 142.74 R1: 142.49 Current Spot: 142.36 S1: 142.25 S2: 141.86 S3: 141.41 Technical summary: Do we have an important top in place at 142.89 or are we just consolidating for one last rally higher towards 143.25? It is still an open question. No matter what the outcome […]
USD/CAD Elliott Wave Last week, the USD/CAD pair has been trading upwards, impulsive wave (5) (coloured black) of the bigger wave (C) (coloured blue) was developing. During the Friday’s Asian and European sessions, we could observe strong ascending movements from 1.0660 towards 1.0736 and we can consider them as the end of the b wave (coloured black) of […]
AUD/USD Elliott Wave Last week, the AUD/USD pair was trading downwards, impulsive wave (v) (coloured red) of the bigger wave 1 (coloured green) was developing. During the Friday’s Asian and European sessions, we could observe descending movements from 0.8886 towards 0.8855 level. Therefore, during the early New York session this major currency did not manage to hold around the […]
Weakness in EURUSD remains at the start of the new trading week after the pair’s sharp drop following last week’s Fed taper announcement. Despite a short rally on Friday that led to the EURUSD briefly reaching the 1.37 handle, the pair has remained capped below this key level. On the 4-hour chart there is consolidation […]
Pound nudges ahead in quiet trading Morning Report: 08.30 London • As is typical of most pre Christmas trading, markets appear to be winding down with significant movement to speak of. Stock markets have continued their bull run, with the S&P 500 posting another small gain this morning. • The pound is also continuing to perform well, […]
The US dollar gave back some of its Fed-induced gains during a relatively quiet Asian session on Monday. Markets in Tokyo were closed for a holiday and the upcoming Christmas holidays led to light volumes and little interest from investors to take on fresh positions. Currency markets were still mostly focused on last week’s Fed […]
Daily chart: USDX has made a slight bearish rebound at the resistance level of 80.62, which would indicate that USDX is forming a lower high pattern. If USDX manages to break that level, it is expected to rise to the level of 81.05. However, USDX has been strongly dominated by the bearish trend, we must […]
Daily chart: GBPUSD remains above the support level at 1.6326 and now this pair is trying to make a breakout at that level. If the pair manages to break that level, it will be expected to fall to the level of 1.6235. On the other hand, it is expected to rise to the level of […]
Weekly chart We note that USDCHF after a movement of almost 200 pips during the previous week at this time begins to rise slowly taking to the support line eighth which comes from reverting to a possible next target 90.33. During the next few hours and the banking company UBS SA Financial […]
EURUSD: This pair gave a bearish signal last week – something that is still valid. There has been some rally within the downtrend (the existing Bearish Confirmation Pattern). Bullish threats at the resistance line of 1.3700 (a point from which the price could plummet further) seem to be failed. USDCHF: This pair gave a bullish […]
Gold rebounded from lower level buying and managed to close above $1,200 levels. The short-term view of gold is purely negative. Gold yearly high is at $1,694. Currently, gold is holding its uneconomical level at $1,200. The miners will cut production if gold below $1,200. Till now we did not get the goal post (bottom) […]
Monthly chart The chart shows Crude Oil with a bullish engulfing candle. Although even the month is not over, it is very likely that prices ending above its weekly pivot which is located at 98.25 because during last week prices closed above 99.00. It seems that the markets may be focusing on the fact that […]
Technical outlook and chart setups: The metal is making lower lows and lower highs and till the time it continues, there is no reason to believe that the trend has changed. As depicted here, at the moment, resistance is seen around the $1,210/20 region, and fresh short positions can be initiated if the price reaches […]
Today, German Import Prices m/m from the Euro Zone, and another data from Euro Zone as Belgian NBB Business Climate are set to release. At the US trading session, Core PCE Price Index m/m; Personal Spending m/m; Personal Income m/m; Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations will be announced. We predict EUR/USD will […]
It is a holiday in Japan today, and it means the market is closed. The US will release some data like Core PCE Price Index m/m; Personal Spending m/m; Personal Income m/m; Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations. We predict the pair will move with low to moderate volatility because there is no significant […]
Technical outlook and chart setups: We took a closer look at the 4H chart. As seen here, the currency pair has been trading in a range of support (141.00) and resistance (142.70/80) for several sessions now. At the moment, short positions have been taken and it still recommended to remain short with risk just above […]
Technical outlook and chart setups: As expected, the currency pair has reversed from the resistance zone of 1.4700/50, producing an engulfing bearish candle. Short positions might have triggered and it is recommended to hold the same and also add on intraday rallies from here on. Risk remains at 1.4900. Resistance is at 1.4900; while support […]
Weekly technical levels: Trading recommendations: GBP/USD: According to previous events, the price has still been trapped between 1.6320 and 1.6380. Psychological Level is at 1.6300. Buy above 1.6300 with the first target of 1.6370, it might resume to 1.6420. Below 1.6470 look for further downside with a target at 1.6350 in order to test the […]
Weekly technical levels: Overview: EUR/USD has rebounded from the minor support at 1.3625, and it is now approaching its support in order to test it, so it will probably start upside movement in this area and recovery again. Therefore, it will be a good sign to buy at this spot with the first target of […]
