Overview: GBP/JPY is trading with bearish bias. It is supported by weak yen sentiment; demand from Japan importers. But GBP/JPY gains are tempered by Japan exporter sales; positions adjustment before weekend. Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at overbought; the 5- & 15-day moving averages are advancing. Trading recommendation: […]
Overview: USD/CHF is trading in higher range. CHF sentiment is weaker after Swiss National Bank on Thursday kept its target range for the three-month CHF Libor unchanged at 0%-0.25% for a 10th straight quarter and reiterated its pledge to intervene in currency markets to prevent the Swiss franc from strengthening beyond 1.20 per euro, […]
The US dollar put in a strong performance during today’s European session, as traders bought the greenback on expectations that the Federal Reserve would taper its monthly bond purchases during its meeting next week. Stronger-than-expected retail sales for November, as well as other recent data such as the employment report for November previously, made the […]
Gold prices have made an upward bounce that reached the 38% retracement. This was most probably wave A of the correction. Wave B down reached 1,222 and we believe it is time for another wave up. We expect wave C to complete the upward correction near the red resistance trend line that comes from 1,360. […]
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 08, 2024 April 8, 2024 Potential for the breakout on the USD/JPY…. The material has…Market Comment – Stocks climb after sizzling US jobs report April 8, […]
The first signs of strength were shown yesterday in the Dollar Index. Prices have paused their decline at the price level we were talking about all this time. The 61.8% Fibonacci retracement has proven important support and as expected, prices have made a short-term trend reversal from that level. The downward sloping wedge was broken […]
Overview: EUR/USD is trading in a range. It is undermined by positive dollar sentiment; surprise 1.1% on-month drop in euro-zone October industrial production (defying forecast for +0.2% increase); European Central Bank President Draghi saying bank holdings of government bonds will be tested among other debt categories in the ECB’s planned stress test next year; Deutsche […]
General overview for 13/12/2013 09:05 CET Looking at today’s price action, traders can see a rather very impulsive wave progression to the upside. Yesterday I have ruled out the possibility of last wave 5 blue to the upside ( above 1.0705 high), but looking at the chart again with current price action I had put […]
(click to enlarge) Long euro / yen has been one of the most successful currency trades of 2013, as the pair is up by more than 25% year-to-date. The euro has been rallying especially strongly against the yen during the past 5 weeks, as five successive weeks of gains have brought it to 142 from […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Yen trades near its five year low – 13 December 2013 Written by the easy-forex team Currencies The euro (EUR) dropped from its six week high at 1.3810 down to 1.3737 against the US dollar (USD). The single currency lost its bullish momentum and now […]
Kiwi gains ground Morning Report: 08.15 London • Markets have found reasons to be cheerful this morning, with the S&P 500 nudging higher and the Dollar Index dipping back. Traders are weighing up US retail sales and the budget agreements. • The NZD/USD is seeing the biggest movement, up 0.44% after the decision to keep rates […]
General overview for 13/12/2013 08:55 CET Breakout above last swing high indicates that bullish impulsive wave progression has not been finished yet and count has been re-labeled slightly. The bearish divergence on AO oscilator is clear and the current price action should be to the downside with the main focus on 142.16 level. If this […]
EURUSD: This pair has come into the area of stabilization after it touched the resistance line of 1.3800 for several times and failed to overcome it. What we are witnessing now is a temporary southward reversal in a context of an uptrend. The price can still go up. USDCHF: USDCHF has come into the area […]
Today’s Support and Resistance levels: R3: 1.6869 R2: 1.6800 R1: 1.6735 Current Spot: 1.6707 S1: 1.6673 S2: 1.6648 S3: 1.6590 Technical summary: The price action seen over the last couple of days, has been slightly disappointing and is not really in accordance with the scenario of a series of waves one’s and two’s developing. Therefore […]
Today’s Support and Resistance levels: R3: 143.88 R2: 143.22 R1: 142.81 Current Spot: 142.50 S1: 142.20 S2: 141.94 S3: 141.39 Technical summary: We have seen the expected rally towards 143.22 (the high till now has been 142.81). We are now in the very last part of the rally from 94.10. Only a break below 142.12 […]
The yen was weaker during today’s Asian session, registering new 5-year record lows against both the euro and the dollar. The dollar rose 0.26% to 103.63 yen, as it traded as high as 103.90; a new 5-year high. The previous high was May’s 103.72. The dollar was helped by the previous day’s stronger-than-expected November retail […]
The early tapering signals from healthy economic data and the US budget deal make gold prices drop. Yesterday’s budget deal made gold prices fall steeply to lower levels. Bears hit gold prices very badly. The US budget deal was reached by congressional Democrats and Republicans. Majority of Republicans supported it. Traders are waiting for today’s […]
Daily chart: The USDX has made a bullish rebound at the support level of 80.11. If the USDX can close the week above this level, it is expected to rise to resistance at 80.62 level in the coming days. On the other hand, if the USDX manages to consolidate below that level, it is likely […]
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: 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 […]
