General overview for 24/12/2013 10:00 CET The impulsive wave development indicated yesterday has been invalidated and currently the wave outlook prefers the count of more complex and time consuming corrective cycle in wave (ii) black. The overall corrective cycle range of 140.91 – 142.89 is still being maintained, but current wave progression indicates a possible […]
Nothing much has changed from yesterday in our gold analysis. Volatility is naturally low so prices are lingering around 1б200. The trend in all time frames is downward. Short-term support is found at 1,180 and short-term resistance is found at 1,220. As long as prices trade below the red downward sloping trendlines, we expect prices […]
The Dollar index has back tested the broken downward sloping channel. Now it is preparing for another strong upward move that could bring prices to 81. We are bullish biased expecting the upward move to be strong. Short term resistance is found at 80.75. Short term support is found at 80.30. The index is now […]
Today’s Support and Resistance levels: R3: 143.24 R2: 142.89 R1: 142.74 Current Spot: 142.60 S1: 142.42 S2: 142.14 S3: 141.86 – Important support – Break below indicates a top being in place. Technical summary: As resistance at 142.49 was broken we knew, that a new high above 142.89 is needed to finish this rally. Short […]
EURJPY has been in an uptrend since November 8, hitting a 5-year high of 142.88 on December 18. On the daily chart, the 10-day moving average has crossed above the 20-day moving average which is a bullish signal and a good indication that the longer-term trend is intact. EURJPY has approached key resistance at its […]
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 […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has continued trading downwards, so we have adjusted our primary forecast to fit the latest market movements. On the hourly chart above, we can see that the short-term cycle from the 1.0560 level we can see a diagonal pattern and we are labeling the high […]
AUD/USD Elliott Wave From the start of this week the AUD/USD pair has been trading downwards, corrective b wave (coloured blue) of the bigger wave (a) (coloured red) has been developing. On the hourly chart we can see that cycle from 0.9756 should be over at the 0.8819 level in the five wave move. While the price […]
EUR/USD: The bias here is bearish and the upswing in the Williams’ % Range shows that the current northward attempt, though shallow, offers a good shorting opportunity. When this does happen, there would be another downswing in the Williams’ % Range. There would be short-term selling pressure. USD/CHF: The bias on USD/CHF is bullish and […]
The Asian session was relatively quiet as trading volumes are thin before the Christmas holiday and many investors are locking in profits before the year-end. News flow was light except for a monthly report from the Bank of Japan which was fairly upbeat. Overall market sentiment was risk-on today, following from encouraging US data yesterday […]
Daily chart: USDX has had a slight fall below the resistance level of 80.62. It is very likely that USDX will make a bullish rebound at current levels and rise again to the resistance level of 80.62. However, we must bear in mind that this may be forming a bearish pattern and if so, it […]
Daily chart: The GBP/USD has moved into a low range above the support level of 1.6326. It is very likely that this pair continues to move slowly through the rest of the week, as the low volatility is normal during this Christmas season. However, if this pair makes a breakout at the support level, it […]
We predict today the EUR/USD will move in low to mid volatility, because today in Euro Zone, German have a bank holiday and only data will be released by France. It is French Consumer Spending m/m. The US will release some data such as US-Core Durable Goods Orders m/m, US-Durable Goods Orders m/m, US-HPI m/m, […]
For today, we predict the USD/JPY price action probably will be in low-medium volatility, and there is a chance to move under a choppy condition. it is possible because Japan will only release BOJ Monthly Report, and the US will only release some data like US-Core Durable Goods Orders m/m, US-Durable Goods Orders m/m, US-HPI m/m, US-New Home […]
Brazil GDP dropped 0.5% in Q3 affected by manufacturing and agriculture output. It is the poorest performance in two years. Brazil’s Central bank cut its inflation view for 2014 to 5.6% from 5.7%. The bank revised down its estimates for the economic growth to 2.3%. The USD/BRL pair is trading at the level of 2.3565. […]
Overview: The NZD/USD pair has formed a support at the level of 0.8100 and the area of 0.8084 probably is going to compose a double bottom, hence the price of 0.8100 will form the last bearish wave and will act as a strong support on December 24, 2013. So it will be a good […]
Overview: The USD/CHF pair is indicating a decline from the level of 0.8993 in order to resume towards 0.8905. Therefore, the pair is going to form a support at the level of 0.8905 and it is now approaching to test it. So, it should be noticed that the price will be trapped between the […]
The yellow metal is trading at $1,198 during Asia’s trading session. It looks very weak in the charts. After the Fed announcement, gold lost its shine, now we are reaching to holiday season and traders are in festive mood. We do not expect any big up/down moves from these levels. Support 1,290 1,287 […]
Weekly chart Crude Oil started the week with a slight drop from 99.18 to 98.63 after posting timid economic performance by the United States fully inverting all quiet due to the upcoming Christmas holiday. Thus the term CL finding support on its second monthly resistance which incidentally is very close to its weekly pivot located […]
European markets have opened slightly higher today, amid persisting optimism about the US economy and following some liquidity operations by the Chinese central bank. However, gains were muted in thin trading ahead of the Christmas break. Meanwhile, economists expect the UK mortgage approvals to gain to 44.50K in November from 42.81K reported in the previous […]
Markets are focused on US data following the Federal Reserve’s announcement on December 18 to scale back its stimulus program. Since Federal Reserve Chairman Ben Bernanke first mentioned earlier this year that tapering was data-dependent, much of the dollar’s recent strength especially against the yen has been driven by improving US data. Last Friday, GDP […]
Overview: NZD/USD is trading with bearish bias. The rate is undermined by bullish dollar sentiment. Daily chart is negative-biased as stochastics is bearish with oversold, MACD is neutral. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot […]
Overview: GBP/JPY is trading with bullish bias.GBP/JPY gains are tempered by Japan exporter sales. 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 in a higher range as far as it […]
Overview: USD/CHF is trading in lower range supported by profti-taking on CHF-longs ahead. 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 remains below its pivot point. […]
Overview: Since our last analysis, Gold has been trading sideways, around the price of 1,198.00. We are still waiting for further downward movement. According to the 4H chart, we can observe lack of demand at price 1,205.00 which may be a sign of further bearish continuation. We are still likely to see it testing the […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways around the price of 1.6710. Today we did not observe major changes, so our analysis is still valid form ysterday. 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 […]
Overview As shown from the today’s H4 chart, the metal is stabilizing between the Support level 19.15 and the Resistance level 19.55 after its failure to break the Support level again last week. Currently we must wait for re-testing the Support level 19.15 again and closing below in order to get the bearish move […]
Overview From the today’s H4 chart and as it was expected last week, we should have waited for breaking the Resistance level of 170.70 before making a decision to continue the bullish move. Today and as it is shown in the H4 chart, the pair failed to break this Resistance level to reverse its bullish […]
Major currency pairs were mostly range-bound in low volume trading as investors were positioning ahead of the holiday period and the year-end. There were no market-moving news releases today so market participants were still digesting the news of the Fed tapering and the strong US GDP numbers from last week. This kept risk sentiment up […]
