EUR/USD: In spite of what is happing in the eurozone, this pair has been able to shrug off its bearish pull. In tandem with some other currency instruments, the pair is poised for a long-term recovery journey to the upside. But I would wait for the EMA 11 to cross above the EMA 56 before […]
The euro rose against the dollar briefly breaking above $1.30 on Friday on optimism that a crisis in Europe may be averted. The US trading session was clearly more upbeat, also helped by a rally in equity markets. There is relief that the contagion will be contained in Europe and there is confidence that the […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair was trading upwards, just like we expected, impulsive wave (3) (coloured pink) of the bigger wave 3 (coloured blue) was developing. Yesterday, during the Asian and European sessions we could observe strong descending movement from 1.0257 towards the 1.0197 level and we can consider this […]
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 […]
Yesterday data on the eurozone and the US was worse than expected. In the eurozone in March PMI Manufacturing was 46.6 vs. forecast for 48.2, PMI Services was 46.5 vs. expectations for 48.2. The US flash manufacturing purchasing managers index rose to a 54.9 reading in March from 54.3 in February. US Existing home sales […]
Read the Daily Market Report from Dave Evans, Professional Trader Yen rebounds as Cyprus drama continuesMorning Report: 08.30 London • This morning, markets are neutral with a negative bias as the yen comes in for some buying speculation. The Cyprus situation is still without resolution […]
EURUSD: On this pair, the dominant trend on this pair has been bullish. In spite of the turbulent situation on the market, it is probable that the pair would continue to move downwards. There is still a bearish indication on the chart, and if continues as expected, the price may touch the support line at […]
Gold is currently testing the intermediate resistance of its medium-term bearish channel at 1,618 suggesting a decline. However, a break of this level will allow it to reach the upper limit of its channel at 1,643. Technical indicators provide buy signals, but until the resistance is not broken the assumption of a decline is […]
The spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 1.2960 suggesting a decline. However, a break of this level will allow it to reach the upper limit of its channel at 1.3040. Technical indicators provide sell signals and until the resistance is not broken the assumption of a […]
Markets were calmer in the Asian session as the weekend looms and investors are unwilling to enter new positions ahead of uncertainty. The yen extended gains from yesterday as the concerns in the euro zone debt crisis fuelled appetite for the safe haven Japanese currency. Also helping support yen was few details from the Bank […]
Today’s support and resistance levels: S1: 122.02 R1: 122.92 S2: 121.83 R2: 123.44 S3: 121.56 R3: 123.98 Technical overview: The decline from 124.50 has become much bigger than we anticipated and that is, of course, a concern, […]
Risk was off during the US session on Thursday, as investors waited on the sidelines for developments in the euro zone where renewed concerns over the debt crisis have been ignited. Meanwhile weak economic data from the region earlier in the day weighed heavily on the single currency. The purchasing managers’ (PMI) index for both […]
Overview: NZD/USD is trading with positive bias. The rate is underpinned by stronger-than-expected 1.5% on-quarter growth in New Zealand 4Q GDP (vs +0.9% forecast); Kiwi demand on softer AUD/NZD cross after NZ GDP data; positive risk sentiment; NZD-USD yield gap. But NZD/USD gains tempered by New Zealand Finance Minister Bill English’s comment that the drought […]
USD/CAD Elliott Wave For the last two days the USD/CAD pair was trading downwards, corrective wave 2 (coloured blue) of the bigger wave (3) (coloured green) was developing. Yesterday, during the European session we could observe descending movement from 1.0275 towards the 1.0238 level and we can consider this movement as the end of the […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair was trading sideways, so we adjust our primary count a little bit. Yesterday during the Asian and European sessions we could observe ascending movement from 1.0368 towards the 1.0404 level and we can consider this move as the end of the sub-wave (D) (coloured […]
Euro is weaker today, dipping below $1.29 after disappointing economic data highlighted the continuing downturn in the euro zone. The purchasing managers’ (PMI) index for both the euro zone as a whole and Germany and France all showed deterioration in manufacturing activity in March. A report compiled my Markit showed that the German manufacturing purchasing […]
Technical outlook and chart setups: A daily chart view has been presented here today, for larger wave study, and as seen, the structure remains constructive for bulls. A large upswing/cycle seems to be unfolding since last several months as ABCD, where A=1,520/30 (May 2012 low), B= 1,800.00 (Oct 2012 high), A potential C= 1,555.00 (Feb […]
March 21st, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened slightly lower this morning, as Cypriot politicians struggled to find ways to secure the €10 billion bailout offered by its European partners. However, losses were limited, following a pick-up in Chinese factory activity and a pledge by the US Federal […]
Technical outlook and chart setups: As depicted on the 4H chart view here, the structure remains more or less similar to what we have been discussing since last few trading sessions. Prices are staging a rally towards our projected resistance at 1.4411. Please note that this level is re-enforced by Gartley convergence. Major trend defining […]
Technical outlook and chart setups: As seen on the 4H chart view here, overall bullish structure remains intact with no major support/resistance levels breached at the moment. Prices have retraced closer to 123.00 level and they are expected to resume rally again towards 125.00 level and higher. As shown here, the intermediary support is intact […]
Overview: The price of 0.9420 will be formed as a strong level, providing a clear signal for buy deals with the target seen at the 0.9500 level. Stop loss is to be placed below 0.9375 above the strong support level 0.9423 (50% of Fibonacci retracement levels in the H4 chart). These levels correspond to 50% […]
The British pound rallied sharply against the dollar on Thursday after surprisingly better-than-expected -retail sales data from the United Kingdom. According to a report from the Office of National Statistics, retail sales data ,where excluding fuel, saw a gain monthly of 1.9 percent. Those sales which included fuel volumes also rose, up 2.1 percent. Compared […]
Daily pivot point: 1.0257. The value of 50% Fibonacci retracement levels is: Average = (Higher – Lower) / 2 Average = 1.0257 If the trend is not able to break and close above the level of 1.0257, then it will be a downside momentum, which is rather convincing and the structure of the fall […]
Yesterday UK Chancellor of the Exchequer George Osborne delivered his annual budget. Investors considered it was optimistic. Mr Osborne assured that cuts in spending would be lowered in order not to influence the economy amid Europe’s weaknesses. Inflation target level was preserved at 2%. Expected growth in gross domestic product is just 0.6%, down from […]
Overview: USD/JPY is trading in higher range. The rate is underpinned by yen-funded carry trades amid positive risk sentiment (VIX fear gauge eased 11.95% to 12.67; S&P rose 0.67% overnight) after U.S. Federal Reserve reiterated its commitment to its stimulus program, buying $85 billion in bonds each month to spur economic recovery, and Bernanke said […]
The euro plummeted against most major counterparts after dismal economic data out of Europe on Thursday. Germany, which is the euro zone’s largest economy and seen as the region’s powerhouse, published weaker than expected data with regards to its manufacturing activity. German manufacturing purchasing managers’ (PMI) index fell to a seasonally adjusted 48.9 in March […]
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 […]
Yesterday data on Current Account in Eurozone was published. In January it was unexpectedly strong, 14.8 billion euros against forecast for 7.9 billion. The euro rose till the moment Ben Bernanke’s speech. The Chairman said the Federal Reserve would alter its monthly bond buying in response to gains in the job market, underscoring a need […]
Read the Daily Market Report from Dave Evans, Professional Trader Euro dips on French economic dipMorning Report: 08.30 London • Markets had a mixed overnight session as stronger than expected Chinese manufacturing data rubbed up against continued confusion over Cyprus. This morning, markets have dipped […]
RECOMMENDATION: BUY stop (pending order) at 124.59. Take profit. 1 at 124.97. Take profit. 2 at 125.59 (optional). Stop loss at 123.98. Alternative: SELL stop (pending order) at 123.89. Take profit. 1 at 123.69. Take profit. 2 at 123.37 (optional). Stop loss at 124.22 Best regards, Arief Makmur Official Analyst […]
