The Reserve Bank of Australia is once again expected to leave the cash rate unchanged at a record low of 2.5%. The market is very interested in what the RBA has to say about the Australian dollar, given that at the current levels, the exchange rate is higher than the level back in December 2013, […]
Technical outlook and chart setups: 1. The GBP/CHF pair is just taking its head out of the resistance line seen here, trading around the sub 1.4700 mark for now. A push through 1.4780 levels from here would invalidate the bearish view, that was discussed yesterday. For now, recommendations are to remain short, risk remains above […]
When the European market opens, some economic news will be released such as Spanish Manufacturing PMI, Italian Manufacturing PMI, German Unemployment Change, Final Manufacturing PMI, Italian Monthly Unemployment Rate, Unemployment Rate, ECOFIN Meetings.The US will release the economic data too such as the Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, IBD/TIPP Economic Optimism, […]
In Asia, Japan will release the Tankan Manufacturing Index, Tankan Non-Manufacturing Index, Average Cash Earnings y/y, 10-y Bond Auction and the US will release some economic data such as Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, IBD/TIPP Economic Optimism, ISM Manufacturing Prices, Total Vehicle Sales. So there is a big probability the USD/JPY […]
Daily chart: The USDX remains below the resistance level of 80.11. However, the USDX is forming a bullish pattern at the current levels, so the USDX is trying to climb up the 200 SMA. However, if the USDX manages to consolidate below the 80.11 level, it would be expected to fall to a support level […]
Daily chart: This pair stays above the bullish trend line and now, the GBP/USD is trying to make a breakout on the resistance level of 1.6663. If successful, it is expected to rise to the level of 1.6766. However, keep in mind that the GBP/USD is overbought in other charts, so it is likely that […]
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Overview: USD/JPY is expected to trade in a higher range. It is underpinned by the weaker yen sentiment ahead of Japan’s national sales tax increase to 8% from 5% on April 1; yen-funded carry trades amid positive investor risk appetite (VIX fear gauge eased 1.44% to 14.41; S&P rose 0.46% Friday) as speculation mounts that […]
Overview: USD/CHF is expected to consolidate after hitting one-month high at 0.8899 on Friday. It is undermined by the franc demand on buoyant CHF/JPY cross. But USD/CHF downside is limited by the positive dollar sentiment and the dovish monetary policy of the Swiss National Bank. Daily chart is still positive-biased as MACD and stochastics is […]
Overview: GBP/JPY is expected to trade in a higher range. It is supported by the positive risk appetite and weak yen sentiment, demand from Japan importers and loose monetary policy of the Bank of Japan. But the GBP/JPY gains are tempered by Japan’s exports. Daily chart is mixed as MACD is bearish; but stochastics is […]
Overview: NZD/USD is expected to consolidate in a lower range after hitting two-and-a-half year high at 0.8698 on Friday. It is undermined by the positive dollar sentiment. But NZD/USD losses are tempered by the kiwi demand on NZD/JPY cross amid the risk appetite and weak yen sentiment, buoyant commodity prices, kiwi demand on soft AUD/NZD […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.5957 on average volume. According to the daily chart, we can observe weak demand on volume below the average, which is a sign that we may see more downward movement before the stronger buying reaction. The price […]
Hello eTorians and welcome to a breathtaking new week. We have the presidents of four central banks talking, market-moving data from all over the world, the NFP, the unresolved Crimea conflict and the gold falling, with the USD close behind. In short, if you suffer from stress, you may want to look into meditation. Hummm. […]
The CopyTrader Gains report is a weekly article analyzing the gains/losses of our most popular investors and their copiers over the previous week. “What goes up must come down.” – Isaac Newton. This is true not just for apples, but for market prices as well. If something goes up quickly then it’s certainly more than […]
Risk sentiment was up in Monday’s European session despite soft Eurozone inflation data and upcoming risk events all week. Fed Chair Janet Yellen will be speaking later today, the ECB meeting is on Thursday and the all-important US nonfarm payrolls will be released on Friday. Additionally, on Tuesday Japanese data are important as is the […]
Futures for the West Texas Intermediate (WTI) crude started the trading week trading lower on Monday, falling from its three-week high as the US and Russia agreed to have talks to solve the crises over Ukraine. Futures for the West Texas Intermediate (WTI) for May delivery edged 0.25% lower to $101.40 a barrel at the […]
The euro weakened against the US dollar on Monday, dragged lower by the disappointing Consumer Price Index from the euro zone. Eurozone’s inflation for March slowed to the lowest in four years, coming in below analysts’ estimates and could point out the next step the European Central Bank (ECB) may take at its next meeting […]
Previous congestion zone between 1.0850 and 1.0960 provided a considerable support at retesting on February 19. This led again towards 1.1190 where the USD/CAD pair established a consolidation zone between 1.0960 and 1.1190. The USD/CAD pair didn’t show enough bullish momentum above 1.1200. As expected, this indicated lack of enough bullish momentum in the market. […]
A Double-Top pattern scenario was executed with the neckline located around the price zone of 1.6620-1.6660. Daily fixation below this price zone enabled the pair to reach 1.6464 (61.8% Fibonacci) as a projection target. The recent achieved low at 1.6465 prevented further decline. However, there is still no sure signals of long-term bullish reversal. Four-hour […]
Daily Fixation below 1.3850 gathered significant bearish pressure enough to breakdown the lower limit of the daily bullish channel. At the end of the previous week, there has been a minor Intraday Demand level expressed at 1.3750 (the depicted uptrend line ) which paused the recent slide off 1.3965. Four-Hour candlestick fixation above 1.3790 signals […]
Since February 4, the EUR/AUD pair has been moving sideways with a slightly bullish tendency. This movement was maintained within the depicted bullish channel. On March 12, the bulls failed to establish an ascending top. Instead, a double-top reversal pattern was established at 1.5500. The neckline was located at 1.5200-1.5170. Success of the double-top pattern […]
Previous congestion zone of 1.0900 – 1.0950 provided considerable support at retesting on February 19. This led again towards 1.1190 where the USD/CAD pair established a consolidation zone between 1.0960 and 1.1190. The depicted chart shows that the USD/CAD pair didn’t apply enough bullish momentum above 1.1200. As expected, this exposed price zone of 1.1000-1.1020 […]
Technical outlook and chart setups: 1. The NZD/USD pair can be said to be pulling back at the moment, from its recent swing highs at 0.8700 levels. Please note that this region has triggered major reversals in the past as well. Short term view indicates that bulls shall remain in control till prices are above […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Gold slides amid stronger dollar – 31 March 2014 Written by the easy-forex team Currencies The euro (EUR) continues to weaken against the US dollar (USD). The single currency has retraced from 1.387 last week to a low of 1.3708 before correcting to 1.3753. The […]
EURJPY- Having reversed its earlier losses to close higher the past week, the cross is now seen rallying strongly during Monday trading session. Resistance resides at the 143.00 level with a break triggering further upside towards the 143.73 level. Further out, resistance comes in at the 144.00 level where a break will turn attention to […]
Technical outlook and chart setups: 1. The AUD/USD pair is facing resistance around 0.9300 levels as seen here. The pair is putting up a bearish trade signal here, which indicated that bears may resume lower from here. Also, the past support turned resistance is around 0.9300 levels as seen here. Recommendations are to initiate short […]
Technical outlook and chart setups: 1. The USD/CHF pair seems to have bottomed out at the 0.8700 levels recently. Furthermore, bulls have managed to take out first resistance as well at 1.8900 levels. At the moment, prices are expected to pullback towards 0.8780 levels before the next rally resumes. It is recommended to look to […]
Technical outlook and chart setups: 1. The EUR/JPY pair seems to be pulling back before giving it up to bears again. The 142.00 region is also back side of the counter uptrend line, that is acting as resistance now. It is recommended to remain short for now and also look to add further short positions […]
General overview for 31/03/2014 12:15 CET The impulsive wave progression to the downside has been finished and now this pair is in corrective cycle. The first target level for a simple abc green correction is at the level of 1.1104, the previous wave 4 red area. In case of the upside extension there is red […]
Technical outlook and chart setups: 1. The EUR/USD has resumed its retracement as was expected earlier. The drop from 1.3960 is impulsive and correction was due. Please note that this rally needs to be sold around 1.3850/60 levels. Recommendations for now is to remain flat and wait to sell higher. 2. Immediate resistance is seen […]
