Daily chart After falling slightly during the first session of the week, crude oil continued today its upward recovery above its bottom line as trading range becomes line 3/8 (green line). Although at this time it is found at the light resistance R-3 daily, we believe that even the next level is in line 4/8 […]
Overview As shown on today’s 4H chart, this week the pair has closed below the Resistance level of 170.00 and couldn’t break it which means the pair will almost reverse its bullish move this week, it takes a downward move. Today, the pair has already started its downward move after it had hit the Support […]
(click to enlarge) The news that UK industrial production was up 0.4% month-on-month was positive, since it beat consensus expectations of a rise of 0.3%. The annual rate of increase of output for UK industry was 3.2%. Except for 2010, UK industry has not really contributed to the country’s economic growth. The annual growth rate […]
Daily chart Looking at the daily chart of the USD / CHF can see that the greenback continued to exert pressure on the Swiss Franc, which so far in today’s session and made a new low at 0.8884 moving below the lower trend channel line bullish. However, since the line 2/8 (red line) has well […]
Overview: Since our last analysis, Gold has been trading sideway, around the price of 1.246.0, we are still waiting for further downward movement. In the daily chart, we can observe no demand bar on volume below the average and rejection of the previous swing low at 1,252.00, which means that gold may continue bearish movement. […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways. Around the price of 1.6541, 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 levels […]
Overview: AUD/USD: According to the previous events, the price has still been trapped between 0.9150 and 0.9110. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bearish signs. In other words, it will be a good sign to sell […]
Trading recommendations: NZD/USD: According to the previous events, the price has still been trapped between 0.8340 and 0.8290. Long buying: Buy above 0.82 with the first target of 0.8293, it might resume to 0.8366. Short selling: Outlook -1-: Swing trade at 0.8370 in order to sell with a traget of 0.8313. Outlook -2-: Below 0.8300 […]
The euro was slightly higher versus the dollar, rising by 0.06% to 1.3753, not far from its 5-week high of 1.3765 recorded during the Asian session. The euro was benefiting from the ECB’s lack of specific planning for additional monetary stimulus. On the other hand, the yen made a comeback against both the dollar and […]
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 May 10, 2024 May 10, 2024 Potential for the further rally on USDJPYThe material has been…Weekly Forex Outlook: 10/05/2024 – US inflation numbers to… May 10, 2024 […]
(click to enlarge) The Australian dollar has been in a downtrend against the US dollar for most of 2013, a year during which it is down 12.37% against the greenback. In its latest downturn, it dropped from around 0.9450 of November 20 to a low of 0.90 on December 4. It has since been trying […]
General overview for 10/12/2013 09:20 CET The wave c purple to the downside has developed as it should, and it looks like wave (2) purple correvtion is done. Now the price should start the impulsive wave progression to the upside in direction of the new highs and target zone. If there is no impulsive wave […]
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 […]
The Dollar index continues to slide lower in an overlapping (corrective) pattern. Prices are now near the next important support level at the 61.8% Fibonacci retracement of the 79-81.50 impulsive move. The short-term trend remains downward. At the 61.8% Fibonacci retracement prices are expected to find support. This level is important as prices could reverse […]
Technical outlook and chart setups: The metal is attempting a possible pullback/recovery for now. Resistance begins from 20.50/21.00 levels (which was past support), followed by 22.00 (channel resistance line), 23.00 and 25.00; while support is at sub 18.00 levels, and lower. It is recommended to refrain from buying at current levels and remain flat. The […]
Gold prices broke yesterday the downward sloping resistance trend line. Prices have most probably ended the downward move from 1,360 with a wave 5 failure (failed to produce new lows). Now our favorite scenario is that we should at least retrace the 38% of the decline from 1,360. So as long as prices trade above […]
General overview for 10/12/2013 09:00 CET The level of 38% Fibo Ext indicated yesterday has been hit along with a round number of 142.00, a new 4-year high that has been hit as well. I have been expecting more complex correction in wave iv black, but it turned out that the market made only abc […]
Technical outlook and chart setups: The currency pair hits fresh highs in each session; the latest is the 142.00 region. As depicted in the daily chart, the fibonacci resistance is now at 142.80 levels, which could trigger a reversal setup. For now, it is recommended to refrain from buying and remain flat. Support levels are […]
Technical outlook and chart setups: The currency pair is off the lows around the 1.4550 levels, and it is trading comfortably above 1.46 at the moment. It is recommended to remain long with positions taken yesterday. Lined up support levels are 1.4350, followed by 1.4200 and lower; while resistance levels are from 1.4780/1.4800 levels, followed […]
Technical outlook and chart setups: The metal still remains locked in its trading range between 1,210.00 and 1,245/50. At the moment, it is testing the upper boundary (resistance) of the trading range. It is still recommended to remain flat for now. As seen here, major resistance levels are 1,350.00, followed by 1,440.00 and higher; while […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has continued trading lower, impulsive wave .iii (coloured black) of the bigger wave i (coloured blue) has been developing. Yesterday, during the Asian and European sessions, we could observe an ascending movement from 1.0637 towards the 1.0668 level, and we can call this move as the end […]
AUD/USD Elliott Wave Last week, the AUD/USD pair was trading downwards, corrective wave c (coloured blue) of the bigger wave b (coloured black) was developing. During Monday’s Asian and European sessions, we could observe a descending movement from 0.9128 towards the 0.9069 level. Therefore, during the New York session, this major pair did not manage to hold around […]
EURUSD: This pair has moved upwards by over 46 pips this week, what could be called a slow and steady bullish move. The Bullish Confirmation Pattern in the chart is a testimony that the bias may continue, though there may be pullbacks along the way. The price may reach the resistance line of 1.3800. USDCHF: […]
Gold gains in pre Christmas lull Morning Report: 08.15 London • Markets have entered a pre-Christmas impasse with gold the only real mover of note so far. • The yen pairs have a slight negative bias as the US dollar index continues its down trend. • The pound is showing some strength this morning […]
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The euro managed to make fresh 5-week highs versus the dollar and 5-year highs versus the yen, on speculation that the ECB will not undertake any fresh stimulus measures for the Eurozone economy. ECB policymaker Yves Mersch stated that it would be problematic for the ECB to engage in asset purchases like the Fed or […]
Today’s Support and Resistance levels: R3: 1.6750 R2: 1.6688 R1: 1.6615 Current Spot: 1.6586 S1: 1.6550 S2: 1.6508 S2: 1.6470 Technical summary: We have seen the expected rally above minor resistance at 1.6556 indicating that green wave ii ended at 1.6470 and that green wave iii is developing. In the short term we would like […]
Since 2008 Gold has almost doubled in price fueled by safe investment amid QE. From the peak of 1,920 it almost corrected more than a half within 2 years. Currently, it is trading at a crucial junction levels. Gold prices remain weak for the remainder of the year as investors await more clear picture from […]
Today’s Support and Resistance levels: R3: 144.00 R2: 143.60 R1: 142.38 Current Spot: 142.07 S1: 141.76 S2: 141.53 S3: 140.99 Technical summary: We are in the final stages of the rally from the 131.20 low. That said, in the short term we are looking for support at 140.99 to protect the downside for a move […]
European markets have opened lower today, amid lingering uncertainty over how soon the US Federal Reserve would start to scale back its $85-billion-per-month stimulus programme. Meanwhile, investors also digested a raft of Japanese and Chinese data. Closer home, a survey by the RICS revealed that UK house prices hit a 14-year high in November. Later, […]
