Overview The USD/JPY to consolidate with bullish bias as markets await 12:30 GMT U.S. April non-farm payrolls (expected to have risen 148,000) & unemployment rate (expected to be unchanged at 7.6%). The USD/JPY is underpinned by improved USD sentiment after surprise 18,000 drop in latest U.S weekly jobless claims to five-year-low of 324,000 (vs 345,000 […]
USD/CAD Elliott wave Since our last analysis the USD/CAD pair has been trading upwards, corrective wave (4) (coloured blue) of the bigger wave C (coloured red) has been developing. Yesterday, during the Asian and European session we could observe descending movement from 1.0083 towards the 1.0058 level and we can consider this move as the […]
AUD/USD Elliott wave For the last few days the AUD/USD pair has been trading downwards, impulsive wave 1 (coloured blue) of the bigger wave C (coloured green) has finished developing. Yesterday, during the Asian and European session we could observe descending movement from 1.0284 towards the 1.0221 level and we can consider this move as […]
EUR/USD Elliott wave Since our last analysis the EUR/USD pair has been trading lower, so we changed our primary wave count a little bit. During the Thursday’s European session we could observe ascending movement from 1.3145 towards the 1.3217 level. Therefore, during the early New York session this major currency did not manage to hold this […]
Overview: The USD/CHF is to consolidate with bullish bias as markets await the U.S. non-farm payrolls report. The pair is underpinned by positive USD sentiment. But the USD/CHF gains tempered by CHF demand on soft EUR/CHF cross; positions adjustment before weekend. The USD/CHF underpinned by improved USD sentiment after surprise 18,000 drop in latest U.S […]
What are their Common Grounds? On the one hand, it is essential to know their similarities so that traders will have a baseline if they are really comparing two (2) products that may serve as alternatives to each other. In this regard, we all know that they are forms or methods of trading that are […]
Overview: The NZD/USD is to consolidate as markets await the U.S. non-farm payrolls report. The NZD/USD is undermined by positive USD sentiment. But the NZD/USD downside limited by positive risk sentiment; the NZD/USD yield gap; Kiwi demand on soft AUD/NZD cross; firmer commodity prices; positions adjustment before weekend. Daily chart mixed as the MACD in […]
Gold has gained 1.5 percent since the announcement of interest rate cuts by the European Central Bank on Thursday to a record low 0.5 percent. As the president of the ECB, Mario Draghi said the central bank will continue with stimulus measures, this pushed investors to the safe haven precious metal. Analysts have attributed recent […]
Read the Daily Market Report from Dave Evans, Professional Trader Euro rebounds ahead of Fed Morning Report: 08.00 London • This morning, financial markets have a positive bias with the EUR/USD the best performing currency. ECB member Nowotny has helped reverse euro sentiment by stating that […]
The euro stabilized against the dollar after taking a nosedive in reaction to the European Central Bank Chief’s hints on negative interest rates. Mario Draghi spooked investors during his post ECB-policy meeting news conference on Thursday when he mentioned that the central bank would consider a deposit rate below zero, meaning that euro zone banks […]
The euro fell this morning after having reached its weekly resistance level of 1.3240. This pair reacted downwards to the European Central Bank’s announcement. However, the next day is expected to be volatile for the euro. Therefore, given that the pair is in a support zone and above the psychological level of 1.30, there is […]
EUR/USD: This pair moved upwards earlier this week, but it came down precipitously as a result of a sudden lease of stamina in the Greenback. The pair has given up almost all the gains it saw this week. This does not mean that the bullish phase is over, for as long as the pair is […]
Today’s support and resistance Levels: S1: 1.5306 R1: 1.5360 S2: 1.5271 R2: 1.5397 S3: 1.5252 R3: 1.5448 Technical overview: Due to the rate-cut from ECB, the price action has been more extreme than we expected yesterday. We […]
TODAY’s TECHNICAL LEVELS : Resistance. 3 : 98.52. Resistance. 2 : 98.33. Resistance. 1 : 98.13. Support. 1 : 97.90. Support. 2 : 97.71. Support. 3 : 97.51. DESCRIPTION: Please pay attention to the levels of support 3 (97.51) and resistance 3 (98.52). Normally, when a level is touched, the USD/JPY […]
RECOMMENDATION : SELL Stop (Pending Order) @ 1.5524. Stop Loss @ 1.5534. Take Profit @ 1.5510. Alternative : BUY Stop (Pending Order) @ 1.5551. Stop Loss @ 1.5541. Take Profit @ 1.5565. Best regards, Arief Makmur Official Analyst of InstaForex Companies Group InstaForex Companies Group http://instaforex.com Email : [email protected] Yahoo Messenger & Skype […]
Overview: The EUR/JPY’s subsequent sharp fall suggests that a decline from 130.80 a month ago had resumed to 126.00 (strong support). The pair has already formed a strong resistance at the level of 130.80 and it is now approaching it in order to test it. Also it should be noted that the price is still […]
Overview According to our yesterday’s expectations, the pair trades above the downward trend line, so the bullish move would be expected in case it closes 4H above. Actually,, the price took a bullish move and managed to break the strong resistance level 151.70, but rapidly it bounced again due to the resistance level 153.20.Today, the price […]
Today’s support and resistance levels: S1: 127.78 R1: 128.43 S2: 127.50 R2: 128.70 S3: 127.20 R3: 129.00 Technical overview: Due to the ECB rate cut, the price action was all over the place yesterday, but has it […]
Overview Proceeding from the H4 chart, it may be a good opportunity for bullish signals today in case the metal closes the current 4H candle above the resistance level 23.90 and according to that, it will open the way towards the resistance level 25.00. Thus, we will get a good opportunity again after closing 4H […]
RECOMMENDATION: Sell stop (pending order) at 127.99. Stop loss at 128.09. Take profit at 127.85. Alternative: Buy stop (pending order) at 128.26. Stop loss at 128.16. Take profit at 128.40. Best regards, Arief Makmur Official Analyst of InstaForex Group InstaForex Group http://instaforex.com Email: [email protected] Yahoo Messenger & Skype: Arief.ifx_jakarta blog.mt5.com/arief http://www.mt5.com/forex_analysis_award/profile/index/arief Disclaimer: Trading […]
Overview: The market is continuing to show the signs of strength following the break of 1.0180 (red horizontal line in the chart). USD/CAD’s support was broken and turned to resistance of last two weeks (April 26, 2013). The pair has already formed a strong resistance at the level of 1.0180. So, the market indicates […]
The dollar rose to the highest level against the yen on Thursday after upbeat US employment related data. A report showed the number of Americans filing initial jobless claims dropped sharply last week to its lowest level since the 2008-09 recession. The data is encouraging and give optimism that the US labor market is still […]
The euro was volatile today after the European Central Bank policy meeting. Soon after the ECB announced it cut the main interest rate by 25 basis points to a record low 0.5 percent, the euro jumped above $1.32. However, the euro soon reversed direction and dropped hard after ECB President Mario Draghi began his conference. […]
Currency markets were relatively quiet leading in to the much anticipated European Central policy meeting later in the European session. Most major currency pairs were consolidating in early Thursday trading, digesting the news overnight from the Federal Reserve, which announced it maintained its current stimulus through bon buying, known as quantitative easing. This kept the […]
The Rules and Regulations for This Type of Trading There are some day traders who buy stocks, hold them for few hours and then finally sell them when the price goes high. All these phases happen on a single day of trading. They are generally called pattern day trader. These people are typically well-established in […]
Technical outlook and chart settings: As seen here, the metal has retraced as per expectations yesterday and bounced off right from the trendline support (drawn from recent swing lows), around 23.30/35 levels. This region is also re-enforced by the past resistance turned support as seen on the chart. Hence, it is recommended to initiate long […]
Technical outlook and chart settings: The yellow metal has retraced down to 1,440.00 levels yesterday before pulling back. As seen here, support region is spread through 1,430.00, followed by 1,400.00 and 1,380.00; while resistance level is 1,480/85 (intermediary), followed by 1,500/10 levels (major support turned resistance), 1,580/85 and higher. As discussed yesterday, the Gartley extension […]
Technical outlook and chart settings: As seen here, the single currency pair could not manage to rally beyond 129.00 levels yesterday. It is still a possibility that the pair rallies towards 130.00 levels and test resistance sloping line as well, before breaking down. But it is recommended to initiate at least partial short positions at […]
Sterling rose against the dollar after UK construction PMI data showed the building sector returned to growth in April. The sector showed the best performance in six months and gave optimism that construction growth will help improve the UK GDP. The construction industry has been the biggest drag on the country’s economic growth between January […]
Bearish rejection around 1.0300 was followed by multiple days of indecision within the same consolidation range 1.0225 – 1.0330 until the pair gave obvious 4H closure below 1.0250 and 1.0200 that lead to a quick rally towards 1.0150 then 1.0100. Price zone 1.0200 – 1.0235, which corresponded to a downtrend line, has been broken through […]
