The GBP/USD pair was consolidating in the mid-week session, after slipping to a multi-week low amid comments from Bank of England policymakers. BOE Deputy Governor Charles Bean said earlier this week that a stronger pound could harm the UK’s export recovery. According to Bean, British exports failed to gain traction even when the pound was […]
The EUR/USD continued its upward ascent in mid-week trade after Eurozone industrial production data beat forecasts. The pair has been supported since the European Central Bank opted to leave the benchmark lending rate unchanged at 0.25%. The decision was accompanied by uplifting comments from ECB President Mario Draghi, who reaffirmed the central bank’s favourable view […]
Overview: USD/CHF is expected to range-trade. It is buoyed by the franc sales on soft CHF/JPY cross and broadly firmer USD undertone. But USD/CHF upside is limited by the flows to safe-haven CHF amid increased investor risk aversion and franc demand on soft EUR/CHF cross. Daily chart is still negative-biased as MACD and stochastics are […]
Overview: GBP/JPY is expected to trade in a lower range. It is weighed by the increased investor risk aversion and Japan’s exports sales. But EUR/JPY losses are tempered by the demand from the Japanese importers and loose BOJ’s monetary policy. Daily chart is mixed as MACD is bullish, 5- and 15-day moving averages are advancing, […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6432 on high volume. Our previous analysis is still active and in progress. Be careful with selling since we’ve got strong demand in the background starting from the level of 1.6191. EUR/NZD is in […]
News of China’s first bond default dampened risk sentiment in markets today, including currencies. The broad risk-off tone led to a demand of safe haven assets which helped strengthen the yen. The only economic data of note today was Eurozone industrial output. The data was mixed and did not really impact the euro. On an […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Gold climbed up to its highest level since September – 12 March 2014 Written by the easy-forex team Currencies The euro (EUR) range bound between the levels of 1.3833 and 1.3897 against the US dollar (USD). The single currency consolidates around 1.3855 awaiting for more […]
USDJPY: The pair has triggered a correction and looks to extend it further in the days ahead. On the downside, support comes in at the 102.26 level, its Feb 26’2014 high. Further down, support stands at 101.50 level and then the 101.00 level with a turn below here switching focus to the 100.75 level, its […]
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: 14/04/2024 – US GDP and BoJ decision… April 19, 2024 US GDP, core PCE and PMIs the next tests for…Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April […]
Technical outlook and chart setups: 1. The EUR/JPY has responded well at the 0.786 fibonacci resistance level, just shy of 144.00 price. The pair is trading lower at the moment, but a push through 139.00 levels is still required to accelerate downside. It is recommended to remain short with risk above 144.00 for now. 2. […]
Successive ascending bottoms were established on the daily chart. This means the uptrend line established on September 2013 is still intact. As expected, the ongoing bullish impulse succeeded in hitting price level of 1.3900. This level corresponds to 100% Fibonacci Expansion. According to the fundamental point of view, bearish pressure is being applied on the […]
Concerns are growing about China’s growth this year after the nation’s trade balance data for February were released earlier this week, being the latest in a series of poor data releases recently. Manufacturing PMIs have been no better for months. The slowing pace of growth in the world’s second largest economy has taken a toll […]
Technical outlook and chart setups: 1. The GBP/CHF pair has finally broken the trend line support as seen here. The trade direction is clearly down with 1.4600/50 now acting as resistance (past support). It is recommended to initiate short positions, risk remains above 1.4700 (the sloping trend line). 2. Immediate resistance is the 1.4600/50 region, […]
The pair established a prominent top around 1.1220 which pushed the USD/CAD pair back to the previous congestion zone between 1.0850 and 1.0960. This congestion zone provided a considerable support at retesting on February 19. This led again towards 1.1190 where the USD/CAD pair topped on February 21 establishing a possible Double Top reversal pattern. […]
On January 24, the EUR/AUD pair initiated a downside movement. This movement was maintained within the depicted bearish channel. On February 13, the bulls expressed a bullish breakout above the upper limit when the bears seemed to be weak. Simultaneously, the bulls established a bullish Head and Shoulders pattern off 1.5000. The neckline was located […]
Crude prices extended losses, falling for a third day, the longest losing streak in two month following the release of the latest API stockpiles report which revealed demand growth concerns in the world’s largest oil consuming country. The North American WTI crude for April delivery dropped 0.83% to $99.19 per barrel on the New York […]
The Australian dollar declined for a fourth day against the greenback on Thursday after reports from Westpac revealed consumer sentiment dropped to its lowest since May last year while home loans dropped. The Australian dollar traded 0.18% lower at $0.8958 at the time of writing, following the release, after trading close to $0.8967 earlier in […]
Trading recommendations: According to the previous events, the GBP/USD pair is still moving between 1.6640 and 1.6570. Sell at the level of 1.6640 with the first target at the 1.6625 price, then It will call for downtrend in order to continue its bearish movement towards 1.6590 in order to test this strong support (it should […]
The Dollar index bulls are trying to create an important low and stage an upward reversal. Trend remains down in all time frames. Short-term resistance is found at 79.95 and short-term support is found at 79.40. The downward sloping wedge contains current prices and if we break above 80 this bullish wedge could give us […]
Equity markets in Europe head lower at the open Wednesday as persisting worries over slowing growth in China weigh on market sentiment in Asia overnight. Commodities, particularly metals like copper decline sharply on the China concerns — gold however has managed to book gains thanks to its “safe-haven” label as well as core government bonds. […]
Overview: The resistance is set at the level of 1.3960 and the double top was placed at 1.3914 on March 12, 2014. Consequently, the price of the EUR/USD pair is going to turn to bearish sentiment from the level of 1.3900-1.3960. Accordingly, it will a good sign to sell in this area with the first […]
Markets Grid To A Halt On China Concerns Morning Report: 08:45 London • This morning, financial markets are tightening as concerns rise about China’s future growth potential. In a related move, copper futures have taken a beating as speculators bet that China’s growth and construction rate will start to slip. The S&P 500 futures are […]
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The US shares plummeted on Tuesday, with selling pick-up late in the trading session, as investors milked some of the latest market profits. But the S&P 500 ended less than 1% away from its record high hit last week. Indexes swerved between gains and losses in the 1st half of the session. Lack of key corporate earnings or […]
The natural gas futures dipped in New York as the moderate weather cuts down demand for the heating fuel. Gas slipped 1% as Commodity Weather Group, LLC postulated seasonal readings throughout most of the lower 48 states from March 21 to March 25 following below normal temperatures in the East next week. At the end of February, waves […]
Asian shares dropped as the regional benchmark index slated for a three-week peak. Japanese equities dipped on a stronger yen but mining companies tumbled despite fear on China’s economic outlook. Honda Motor Co., a carmaker that acquires around 83% of sales overseas, dived 1.7% in Tokyo, moving losses among Japanese exporters. BHP Billiton Ltd., the world’s largest […]
Copper traded closer to the lowest point in 44 months with surging volume, as investors evaluated hints of dwindling demand in China, the largest metal user. The contract for delivery in three months on the London Metal Exchange was slightly changed at $6,480 per metric ton at 11:30 a.m. in Tokyo following it rose 0.4% and decreased […]
General overview for 12/02/2014 08:35 CET The corrective structure in wave (ii) blue looks completed, but to confirm the upside wave progression, the market now must break above the key area at the level of 1.1129 and even then breakout above technical resistance at the level of 1.1151. Any failure here would mean, then the […]
Gold has made a strong rebound in the past two days, gaining more than $30 to reach a new 6-month high. Prices bounced off key support at 1327.94 on March 10 and moved higher by breaking two key resistance levels at 1337.11 (61.8% Fibonacci of August 25 – December 29) and 1354.63 (March 3 high) […]
General overview for 12/03/2014 08:15 CET The corrective structure looks almost completed and the level mentioned yesterday was hit. Currentlyб the count has been a little changed in favor of descending triple three complex correction in wave (iv) green and price is about to test weekly pivot at the level of 142.31. Please notice that […]
