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 […]
The USD/CAD held steady in the early part of the week, as investors look ahead to the Bank of Canada’s interest rate decision. The BOC is expected to make no changes to its benchmark lending rate, currently pegged at 1%. However, investors will listen in closely to the rate statement to determine if the central […]
Overview: USD/JPY is expected to consolidate with bullish bias after hitting near-one-month low of 101.20 Monday. It is undermined by the flows to safe-haven JPY and selling of the yen crosses amid increased risk aversion (VIX fear gauge rose 14.29% to 16.00, S&P fell 0.74% overnight) on heightened concerns over political crisis in Ukraine. USD/JPY […]
Overview: NZD/USD is expected to trade with risks skewed lower. It is undermined by the positive U.S. dollar sentiment, kiwi sales on soft NZD/JPY cross amid increased investor risk aversion and kiwi sales on rebounding AUD/NZD cross. But NZD/USD losses are tempered by the hawkish Reserve Bank of New Zealand’s monetary policy stance. Daily chart […]
Overview: USD/CHF is expected to trade in higher range. It is underpinned by the positive U.S. dollar sentiment and franc sales on soft CHF/JPY cross. But CHF sentiment is soothed by the surprise rise in Switzerland PMI to 57.6 in February from 56.1 in January (versus 55.8 forecast). USD/CHF gains are also tempered by the […]
Overview: GBP/JPY is expected to trade in higher range. It is undermined by the increased investor risk aversion as Russia-Ukraine tensions persist and Japan exporter sales. But GBP/JPY losses are tempered by the diminished expectations for ECB rate cut on Thursday after higher-than-expected euro-zone February flash CPI, demand from Japan importers and loose BOJ’s monetary […]
Not everybody saw it coming, but after months of internal turmoil and the intervention of Russian troops, finally the situation in Ukraine affected the global markets in the form of a huge sell-off of risk assets and the return to safe havens like Gold and all time classic, the USD. We also saw a rebound […]
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Risk appetite improved in the European Session as investors felt less nervous about tensions in the Ukraine escalating. This was due to Russian President Putin ordering his troops to leave the Ukraine border and return to base. The euro benefited from the news and climbed against the dollar although gains were limited as focus shifts […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – The aussie tumbles down to its monthly low – 28 February 2014 Written by the easy-forex team Currencies The euro (EUR) moved even lower touching the level of 1.3642 before the rebound up to 1.3726 against the US dollar (USD). The pair moved lower after […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, the price tested the level of 1.6376 on volume above the average. We can observe that the price rejected from our Fibonacci Retracement 61.8% (1.6515). We are now in progress of bearish correction and I plcaed Fibonacci retracement to find a potential end […]
Prices for the North American West Texas Intermediate (WTI) climbed near its highest price since September, while Brent crude remained steady as Russia ordered troops to return to Base, according to the Russian news agencies. Crude prices traded higher on Monday, after Ukraine its army in response to Russia sending its troops to take control […]
Growing tensions in Ukraine rattled global markets Monday leading to steep falls in European and US markets in the previous session. Asian markets bucked the trend somewhat overnight, edging higher on regional data though Ukraine woes hampered moves to the upside. Regular pay in Japan increased under ‘Abenomics’, kicking up the Nikkei225 index while Australia’s […]
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:Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500… April 16, 2024 We introduce you to the daily updated section of Forex…What’s next for markets amid Israel-Iran tensions? – Special… April 16, […]
The pair remains in the bearish impulse initiated off its peak price around 1.6820 as long as this highest price doesn’t get broken through. The breakdown of 1.6600 is essential to confirm reversal and trigger a stronger pullback, which will pause the short-term bullish momentum and open the way towards 1.6536 (50% Fibonacci Level of […]
Successive ascending bottoms are being 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 […]
Weekly technical levels: Pivot point formula: Pivot point = (high (previous) + low (previous) + close (previous)) / 3 General idea about the pivot point. Resistance 3 and support 3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well […]
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 bearish momentum expressed considerable weakness. Simultaneously, the bulls established a bullish Head and Shoulders pattern off 1.5000. The neckline is roughly […]
The pair established a prominent top around 1.1220 that 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 expressing an Inverted Hammer daily candlestick as […]
Weekly technical levels: Trading recommendations: It should be noted that if the trend is ascending, then the strength of the currency will be defined as following: USD is in uptrend and CHF is in downtrend. Additionally, according to the previous events, the price of the USD/CHF pair has still been trapped between 0.8860 and 0.8820. […]
The reports over the weekend of Russian troop movements in and around Crimea and near the Ukraine / Russia border had a major effect on international markets. The troop movements followed the ousting of the previous pro-Russian government of President Yanukovich and its replacement with a government that wanted closer relations with the European Union. […]
