In Asia, Japan will not release any economic data’s for today and the US will release some economic data such as US-Import Prices m/m, US-Capacity Utilization Rate, US-Industrial Production m/m, US-Prelim UoM Consumer Sentiment, US-Prelim UoM Inflation Expectations. So there is a big probability the USD/JPY will move with low volatility during the Asian session, […]
The US retail sales fell 0.4% in January, while it was expected the sales to hold steady. USD had mixed results against other currency pairs this week. Last week, the non-farm payroll data did not encourage the US dollar to move higher. The dollar index is still forming a triangle coming back to the lower […]
Daily chart: The USDX fell significantly below the level of 80.62, having formed a higher low pattern. Now, the next target for the USDX is the support level of 80.11. However, one would expect that the USDX will start forming another bearish pattern to continue falling. The USDX is very strong in its bearish bias, […]
Daily chart: GBP/USD continues to rise above the support level of 1.6540, heading towards the resistance level of 1.6663. If the pair manages to break that level, it is expected to rise to the resistance level of 1.6851. On the other hand, it is expected to fall to the level of 1.6540 if the pair […]
After declining 100 pips, the EUR/GBP pair began its long road to recovery. The EUR/GBP was back in the driver’s seat after Germany posted in-line consumer inflation data. Consumer inflation in Europe’s largest economy declined 0.6% in January, in-line with forecasts. Compared to year-ago levels, consumer inflation in Germany was up 1.2%, also in-line with […]
The EUR/USD rebounded sharply one day after falling to multi-week lows. The pair was supported after German consumer inflation data met expectations. Although Eurozone inflation is expected to remain subdued, analysts forecast a strong rebound for the Eurozone economy in 2014, according to the European Central Bank’s quarterly survey. Germany’s Consumer Price Index declined 0.6% […]
The USD/CAD was back above 1.10, after declining in three of the past four sessions. The pair has been under pressure due to weaker than forecast US nonfarm payrolls data, which threatened to undermine the Federal Reserve’s bond tapering program. With Janet Yellen confirming that the Fed will continue with the gradual tapering process, the […]
A considerable support was provided around 1.6250. This price level corresponds to the previous multiple tops as well as recent bottom established around 1.6250. The 4H chart reveals an inverted bullish Head and Shoulders pattern which was expressed around 1.6220 aiming at a 1.6470-1.6500 “previous prominent resistance zone”. Four-hour breakthrough above the price zone of […]
The nearest SUPPLY zone is located between 1.3680 – 1.3730 which corresponds to the price zone between 50% and 61.8% Fibonacci levels. On Tuesday, the pair expressed an Inverted Hammer daily candlestick while retesting 1.3680 (50% Fibonacci). Fundamentally, industrial production in the euro area witnessed an unexpected decline of 0.7% on a monthly basis in […]
From fundamental standpoint, positive news came from the Bank of England Monetary Policy Committee which expects the unemployment rate to reach 7% by the first quarter of 2014. This accelerated the current bullish impulse towards 1.6570 then 1.6666, according to the fundamental data released yesterday. Today, the GBP/USD bulls managed to breach the previously established […]
Overview: GBP/JPY is expected to trade in higher range. It is undermined by diminished investor risk appetite, Japan’s export sales and weak euro sentiment. But GBP/JPY losses are tempered by the demand from Japan’s importers. Daily chart is still positive-biased as MACD and stochastics is in bullish mode, five-day moving average is above 15-day MA […]
Overview: USD/JPY is expected to consolidate. Buoyed by positive dollar sentiment (ICE spot dollar index last 80.68 versus 80.63 early Wednesday) after Federal Reserve Chairwoman Yellen in her Congressional testimony on Tuesday indicated the central bank will continue reducing its monthly bond purchases. USD/JPY is also supported by the higher U.S. Treasury yields, ultra-loose Bank […]
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Overview: USD/CHF is expected to consolidate with bearish bias after hitting its four-day high at 0.9038 Wednesday. It is supported by the positive dollar sentiment and franc sales on soft CHF/JPY cross and on buoyant GBP/CHF cross. Daily chart is mixed as MACD is bearish, but stochastics is in bullish mode. Trading recommendation: The pair […]
Overview: The NZD/USD is expected to trade in higher range. It is undermined by the positive dollar sentiment, Kiwi sales on soft NZD/JPY cross amid waning investor risk appetite and on buoyant GBP/NZD cross. But teh NZD/USD losses are tempered by hawkish Reserve Bank of New Zealand’s monetary policy stance and buoyant commodity prices. The […]
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Overview Based on today’s H4 chart, after failing to break the intersection point yesterday between the lower limit of upward trend line with the Support level of 168.50, the pair reversed its bearish movement taking an upward move and managed to break the Resistance level of 169.75. Currently, the pair is approaching the Resistance level […]
The main theme of the currency markets today was dollar weakness, which built up throughout the European session and culminated with the release of soft US retail sales data as well as disappointing weekly jobless claims numbers. Retail sales fell 0.4% in January, led by a drop in automobile sales. They were expected to remain […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Dollar higher amid strong recovery signs – 31 January 2014 Written by the easy-forex team Currencies A stronger dollar pushed the euro (EUR) lower as the pair moved below 1.3543 in early trading. The single currency may come under stress today as Eurozone price data […]
The Australian dollar dropped against the US dollar on Thursday, following the reports from the statistics office which showed the Australian labour market worsened, with the jobless rate rising to its highest in ten years. The AUD/USD currency pair was trading around $0.9029, but later dropped 0.98% to $0.8937 after the report was released. Australian […]
Crude prices slid from a four-month high on Thursday as reports from the Energy Information Administration (EIA) revealed the US oil stockpiles climbed. Futures for the West Texas Intermediate (WTI) for March delivery dropped 0.67% lower at $99.70 per barrel on the New York Mercantile Exchange at the time of writing, while the European benchmark […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6424 on high volume. We can observe buying climax (strong demand) like reaction on selling climax in the background. The area of 1.6300-1.6280 is major support since we’ve got major Fibonacci expansion 61.8% (1.6300) […]
General overview for 13/02/2014 08:50 CET The corrective cycle in wave 4 red looks like it has been finished and now breakout below the level of 1.0975 is needed to confirm that corrective cycle is over. The first target for wave 5 red is at the level of 1.0955 but the decline might extend much […]
General overview for 13/02/2014 08:05 CET The decline in price on this pair has not been finished yet and more lower prices are expected. The golden channel should provide healthy resistance and if the level of 139.17 is not broken, then downside should accelerate. The weekly pivot at the level of 138.87 should be violated […]
The Dollar index started an upward bounce from the 76.4% Fibonacci retracement and the 80.40 support area, but it did not manage to break above the downward sloping trend line resistance. The index was rejected at the resistance trend line yesterday and pulled back to its recent lows. Will it make a double bottom at […]
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:Video market update for April 11, 2024 April 11, 2024 Potential for the further rally on USD/JPYThe material has been…GBP/USD. April 11th. The US inflation report shocked the… April 11, 2024 […]
The Australian dollar is on tracked to reverse its increase to a one-month high versus the yen, trading patterns suggest, after the currency pair tracked a recovery in investor appetite for riskier assets. The Aussie has bolstered 3.6 percent against its Japanese counterpart this month as of yesterday, the largest surge among 31 major currencies […]
On the menu for the lunch French President Francois Hollande is hosting today for the chiefs of the likes of Facebook Inc. and Google Inc.: sticks and carrots. In the first official trip by a French president to San Francisco in 30 years, Hollande will look to pursue Twitter Inc.’s Jack Dorsey, Facebook’s Sheryl Sandberg […]
Societe Generale SA, France’s second-biggest bank, more than doubled a dividend payout to shareholders as fourth-quarter earnings surpassed analysts’ projections, aided by profits at consumer banking units. The shares bolstered the most in more than six months. Net income was 322 million euros ($439 million), compared with a loss of 471 million euros a year […]
