Overview Since our previous analysis, the EUR/NZD pair has been trading downwards, as we expected, the price tested the level of 1.5880 on volume below the average according to the daily chart. As we already wrote in the previous analysis, EUR/NZD is in short- and mid-term bearish trend, so watch for selling opportunities after retracement. […]
GBPUSD: Rallies But Can GBP Break And Hold Above 1.7000? GBPUSD: With GBP breaking through the 1.6919 level to extend its bullishness during Tuesday trading session, the risk is for more gains to occur. The major resistance stands at the 1.7000 level, its big psycho level. This level is key to its bullish build up […]
Overview In the shown H4 chart, the pair failed more than once to break the Support level of 172.00 and it is still trading above it since yesterday. In the today’s H4 chart the pair bounced from the Support area again and started to take a slightly upward move approaching the Resistance level of 172.80. […]
European markets have opened in the green today, mirroring overnight gains on Wall Street following upbeat US ISM services sector data. Closer home, market participants will keep an eye on services PMI data which is expected to show an improvement in April. Meanwhile, services PMI data from other European nations and Eurozone retail sales data […]
Overview: The EUR/USD pair has successfully tested the resistance area set by the recent high at 1.3920 today besides the intraday key resistance at 1.3960. Accordingly, EUR/USD is challenging the psychological resistance at 1.3960. Equally important, bears are asking for a high price at 1.3960 because buyers have not breached the resistance, suggesting a bearish […]
Dollar Index Behind Early Movers Morning Report: 09:00 London • This morning, a weak dollar index is setting the tone for this morning’s trading. In a generally positive trading environment, the dollar pairs are slipping back, with the GBP/USD a notable early mover.. […]
Overview: The USD/CHF pair is going to set strong resistance at the level of 0.8820 and support at 0.8710 today because the price is still moving between 0.8810 and 0.8735. So, we expect a range of 75 pips on May 6, 2014. Also, the USD/CHF pair has still been below 50% of Fibonacci retracement levels […]
Technical outlook and chart setups: 1. The EUR/JPY pair is bouncing off the channel line support for the 3rd time in recent trading days around 141.20/30 levels. Immediate resistance is seen at 142.30/50 for now. A break is required on either side to instill further confidence. Recommendations are to remain flat for now; watch out […]
The Dollar index is being put under heavy selling pressure. With its major component of EURUSD making new higher highs towards 1.40, the Dollar index is being sold heavily and is testing the 79.20 lows. Support is most probably going to break and we should expect the dollar index to move below 79 soon. The […]
Technical outlook and chart setups: 1. The GBP/CHF pair is stalling at sub 1.4850/60 levels and facing resistance. The pair is trading at 1.4800 levels for now and is expected to break down to at least 1.4680/1,700 levels if not further. Recommendations are to remain short, risk remains at 1.4950/60. 2. Support is at 1.4630/50, […]
Asian shares advance as holidays restrained trading in Japan, Hong Kong, and South Korea markets. After posting earnings, Genting Singapore PLC and Australia’s Leighton Holdings Ltd. climbed. The MSCI Asia Pacific except Japan Index ascended 0.1% to 474.94 at 11:31 a.m. in Sydney, with eight out of 10 industry groups on the gauge increasing. China’s Shanghai Composite […]
US stocks ticked up slightly as figures reflected strength in the services sector and Apple shares climbed over $600 for the first time since late 2012. However, concerns about an escalated upheaval between Ukraine and pro-Russia separatists restrained the day’s gains. Separatists ambushed the Ukrainian forces, which prodded hefty fighting on the outskirts of the rebel defense of […]
Oil futures inched lower Monday about worries over a slowdown in China which pressed prices following they shortly recaptured the $100 mark despite fatal clashes in Ukraine that jeopardized the crude supplies from Russia. Crude oil to be delivered June dived 28 cents or 0.3%, to $99.48 on the New York Mercantile Exchange. In ICE Futures exchange, June […]
The Australian dollar clung to a four-day plunge versus the Japanese yen before the Reserve Bank announces its decision on monetary policy today. The Aussie has been the worst performer last month among Group of 10 currencies despite bets the RBA would keep borrowing costs at an all-time low as the government focused on spending cuts in next […]
European stock markets ticked higher as it opened Tuesday, with well-known companies such as UBS AG and BMW ascended following the firms reported positive earnings results. The Stoxx Europe 600 index escalated 0.3% to 337.75, recouping from a 0.3% loss Monday. France’s CAC 40 index profited 0.2% to 4.471.65. Germany’s DAX 30 index grew 0.3% to 9,559.77. […]
The US dollar was somewhat changed versus major peers Monday as investors kept on going through economic reports and statements from central bank officials to comprehend more on when the Federal Reserve could start increasing interest rates. The dollar edged down to ¥102.13, previously ¥102.22. Japan’s markets were shut Monday. The US economy in April made the […]
Daily Forex Market Analysis with Michael Florentiades – Chief Economist – Head of Investment Research at XM.COM. (Reserve Bank of Australia holds rates, aussie gains) Related Posts:Analysis of EUR/USD pair on May 9th. Euro woke up after the… May 9, 2024 The wave analysis of the 4-hour chart for the EUR/USD…Market Comment – Pound slides […]
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General overview for 06/05/2014 07:40 CET The correction looks finished as the target zone has almost been hit but the current wave progression does not allow to definitely start the impulsive downside development. There is still a possibility of more complex and time-consuming correction in the shape of alternate green labeling on the chart. However, […]
Daily chart: The USDX has not had major changes in this chart, as the USDX continues to fall below the 200-day moving average, so the bearish bias remains strong. For now, the nearest target is the support level of 79.19. However, if the USDX makes a bearish rebound at the current levels, it is expected […]
Daily chart: The GBP/USD has made a bullish rebound above the support level of 1.6851, so the bullish bias remains intact, because this pair continues forming a bullish pattern above that level. If the pair manages to make a breakout at the 1.6900 level, it’s expected to rise to the resistance level of 1.7000. The […]
General overview for 06/05/2014 07:20 CET The correction has finished sooner than expected but the low of the wave (i) green has not been broken yet. Nevertheless, the current wave progression is bearish and I would expect more downside here to come as long as the golden trendline holds. Support/Resistance: 1.1052 – Swing High 1.1026 […]
USD/CHF The pair has been in a down trend from 0.8952 levels. It is facing strong resistance at the descending trendline. We expect this pair will give an upside breakout in the next couple of weeks. On the down side, the pair has strong support at 0.8744 (April 11 low). Once it breaks this, it […]
GBP/USD Today traders will eye British Services PMI. The pair has been trading in an uptrend from 1.6465 levels. In Asia’s trading session the pair is trading at 1.6873 levels. As of now, the pair opened its trading day on a bullish note. The RSI in the daily chart indicating a limited upside availability, the […]
When the European market opens, some economic news will be released such as Spanish Unemployment Change, Spanish Services PMI, Italian Services PMI, Final Services PMI, Retail Sales m/m, ECOFIN Meetings. The US will release the economic data too such as the Trade Balance, IBD/TIPP Economic Optimism, so amid the reports, EUR/USD will move with low […]
EUR/USD The pair has been in an uptrend from 1.3774 levels. It is facing strong resistance at every higher level. Currently the pair is facing strong resistance at 1.3906 levels. It is the key level for bulls and bears. Until the pair breaks the 1.3906 levels, the pair will move to 1.36. Last week’s low […]
EUR/USD: Here, the market is volatile. It is not uncommon for the price to experience some pullbacks, only to go upwards again in tandem with the dominant bias. A good example of this fact happened last Friday. The EUR/USD is bullish and the pair would soon test the resistance line at 1.3900. USD/CHF: This is […]
In Asia, Japan will not release any economic reports because of Bank Holiday, and the US will release some economic data such as Trade Balance, IBD/TIPP Economic Optimism. So there is a big probability the USD/JPY will move with low volatility during this day. TODAY’s TECHNICAL LEVELS: Resistance. 3: 102.55. Resistance. 2: 102.45. Resistance. 1: […]
Australia’s dollar achieved a one-month low versus its New Zealand peer ahead of the Reserve Bank’s policy decision today and after data displayed the larger nation recorded a narrower-than-projected trade surplus. The Aussie has been the weakest mover of the past month among Group-of-10 currencies in the middle of bets the RBA will keep borrowing […]
Asian stock markets advanced on Tuesday trading action after an upbeat U.S. economic news aided Wall Street to a firmer close, though activity was again light with Tokyo still on holiday. Australia’s main index led the way with a surge of 0.5 percent, while MSCI’s broadest index of Asia-Pacific shares outside Japan skyrocketed 0.16 percent. […]
