Successive ascending bottoms were established on the daily chart. This means the uptrend line established on September 2013 is still intact. The ongoing bullish impulse is probably targeting at 1.3900 corresponding to 100% Fibonacci Expansion as long as the depicted uptrend line remains defended by the bulls. The pair failed to reach this price level […]
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 is roughly […]
A prominent bottom was established around 1.6250. This price level corresponds to previous multiple tops as well as another recent bottom established in December 2013. A breakthrough above the price zone of 1.6590-1.6660 opened the way directly towards the upper limit of the depicted channel around 1.6820 where the GBP/USD pair topped recently. As expected, […]
The Dolllar index as it was mentioned yesterday is at an important pivotal point that could decide long-term trend. The 80 price level is very important and that is why during the last weeks we saw a battle of bulls and bears around this area with a tight price range of 79.70 and 80.60. This […]
Overview: The market indicates the lower volatility of 51.84 today.The AUD/USD pair had risen from the strong level of 0.8900 and extended further to as high as 0.8977 yesterday but it closed at the 0.8950 level today. Equally important, the support will form at 0.8900 because this level has also formed a double bottom on […]
EURUSD was in an uptrend from the February 3 low (1.3476) to the February 28 high (1.3823). This level was rejected by the market and the euro fell back down towards the 1.3720 area. Prices are currently capped just below the 23.6% retracement of this upleg from February 3-28. This Fibonacci level is proving to […]
Yen pairs rise as Ukraine tensions ease Morning Report: 09:00 London • This morning, markets have continued to rebound from Monday’s shock sell off with commodities and commodity related currencies leading the charge. • Stock markets saw a huge rally yesterday and are now in danger of looking a little too hot. […]
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The weekly pivot point will set at the price of 1.6697 Overview: The GBP/USD pair probably will form strong support at the level of 1.6625 (above 23.6% of Fibonacci retracement levels. Moreover, it will also form sturdy resistance at the 1.6730 level in the H1 chart. So, the range of the GBP/USD pair will be […]
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Natural gas futures reported sturdy gains on Tuesday although it stayed within the bound and hoped severe weather in the US last week took its toll on the country’s inventory report. On the New York Mercantile Exchange, natural gas to be delivered in April settled at $4.607 per million British thermal units, up 2.55%. The commodity touched […]
Asian shares bounced following a sharp fall on Wednesday, after Russian President Vladimir Putin’s statements relieved woes of an imminent military conflict and revitalized risk appetite. Putin said Russia has the right to use all choices to safeguard compatriots who were living in fright in Ukraine, but that force was not the immediate need for now. With caution […]
The European stock-index futures dropped following equities marshaled yesterday by its greatest in eight months, as investors diverted their attention from the turbulence in Ukraine to economic report from the US and Europe. Carrefour SA might shift following France’s biggest retailer listed a 9.8% gain in its entire year profit, surpassing analysts’ postulations. Bourbon SA might be active […]
Markets breathed a sigh of relief as geopolitical tensions eased over the Ukraine crisis and the S&P rallied to a record high yesterday. Major currency pairs were calm during Wednesday’s Asian session, with the only big moves made by the Australian dollar following fourth quarter GDP data. The Australian economy grew 0.8% in the fourth […]
The pair was unable to cross the resistance level of 1.6822, made a low at 1.6584. The pair is trading above the EMAs that indicates a strong uptrend. Currently, the pair is trading in a range between 1.6823 and 1.6584, further move will be detmined by a breakout to either side. On the lower side, […]
The pair is in a downtrend from $102.83, it made a low at $101.20. The price is facing stiff resistance in the Tuesday’s trading session at $102.46, 40DEMA. The pair had broken its monthly support trend line on Friday , and today it managed to close above the trend line. It’s a good sign in […]
EUR/USD: Despite the gradual southward movement of the price, the bullish outlook on this pair is not yet over. For the bullish bias to continue to exist, the plunge in the price should be contained at the support line of 1.3700. Otherwise, the presence of the price below the support line would result in a […]
When the European market opens, some economic news will be released such as Spanish Services PMI, Italian Services PMI, Final Services PMI, Retail Sales m/m, Revised GDP q/q. The US will release the economic data too such as the US-ADP Non-Farm Employment Change, US-Final Services PMI, US-ISM Non-Manufacturing PMI, Crude Oil Inventories, US-Beige Book, so […]
In Asia, Japan will not release any news and the US will release some economic data such as US-ADP Non-Farm Employment Change, US-Final Services PMI, US-ISM Non-Manufacturing PMI,Crude Oil Inventories, US-Beige Book. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility […]
Technical outlook and chart setups: 1. The EUR/JPY pair is testing resistance at 140.00 levels again before bears regain control. A push above 141.00 levels would bring 142.00/50 in view (fibonacci 0.618 resistance). It is recommended to remain short, risk remains at 143.00. 2. Immediate resistance is at 142.00/143.00, followed by 145.50, while supports are […]
Technical outlook and chart setups: 1. The GBP/CHF pair continues to trade between 1.4700 and 1.4800/50 for now. A morning star has been produced here, indicating that the next move might be higher. A counter line of resistance shown here should help initiate fresh positions. Immediate risk remains at 1.4850/60. 2. Immediate resistance is at […]
Daily chart: The USDX is consolidating above the support level of 80.11, so it is very likely that the USDX start making some corrective movements. If the USDX strongly manages to consolidate above this level, it’s expected to rise to the resistance level of 80.62, which would be a definite trend change. The MACD indicator […]
Daily chart: GBP/USD remains above the support level of 1.6663, so this pair remains steadfast in the bullish bias. However, if the pair manages to make a breakout at that level, it would be expected to fall to the level of 1.6540. On the other hand, if this pair makes a bullish rebound at this […]
March 4, 2013 – Indices Asian markets have rebounded today as the situation in the Crimea appears to have deescalated substantially. This news caused the yen to depreciate as investors no longer needed to use it as a safe haven asset. As a result, Japanese companies saw income from overseas rise due to an increase […]
The Big Picture Ever wanted to take a look at the bigger picture of a specific market and didn’t know where or how to start ? Most new investors are simply taking into consideration fundamentals (the analysis of the market’s financial health and competitive advantages), leaving price history and possible correlations between past support and […]
Hello eTorians!! We had a week dominated by fear. Fear for the news coming up from Ukraine. In these cases, investors prefer not to enter into the markets and hold their accout as free cash: in every moment everything could happen and the fear to lose is too big. It was a bad week for […]
The USD/JPY pair rose sharply, as tensions in the Ukraine eased somewhat overnight. The pair made impressive gains, finally breaching 102, a level that provided stiff resistance previously. In economic data, average incomes in Japan declined 0.2% in January, according to the Ministry of Health, Labour and Welfare. Incomes had risen 0.5% the prior month. […]
The EUR/USD was trading cautiously, as less compelling economic data kept the forex market fixated on future events. The European Central Bank makes headlines later in the week with a key interest rate decision. Although the central bank is expected to make no changes to its benchmark rate, currently pegged at 0.25%, investors will look […]
The GBP/USD rebounded after a rocky start to the week saw the pair tumble to the mid-1.66 region. The pair rebounded despite weaker than forecast UK construction PMI, courtesy of Markit Economics. The UK construction sector maintained a robust growth pace in February, Markit data showed. The PMI reading of 62.6 reflects a sharp rise […]
The EUR/GBP held steady and traded within a narrow range, as investors look ahead to key rate decisions from the Bank of England and European Central Bank. The BOE, trying to manage rate hike expectations, has seemingly shifted its forward guidance on interest rates. BOE policymakers have said that expecting a rate hike in the […]
