The Dollar index has broken its short-term support at 80.15-20 and has now moved below 80. The index continues to trade within the downward sloping trend channel and continues to make lower lows and lower highs. However, the index is oversold and we believe that a strong upward bounce should be expected soon. Short-term resistance […]
General overview for 17/02/2014 09:45 CET The impulsive wave progression for wave (iii) blue looks finished and now the market is in corrective cycle in wave (iv) blue. The golden trend line is providing the resistance so far, but the overall corrective cycle has not been finished yet. The weekly pivot at the level of […]
General overview for 17/02/2014 09:17 CET The corrective cycle in current wave is getting more complex and time consuming. The overall shape is being as some kind of a flat correction but there is a possibility, that wave b green might be a triangle formation. Currently, the market is in the daily range area and […]
The Australian dollar climbed to its highest level on Monday following a solid lending growth in China in January, an optimistic sign for the country’s largest trading partner. The Aussie was trading at US$0.9052 at 05:45 GMT, previously US$0.8994 last Friday. It listed as high as US$0.9069, short of a one-month high. Chinese bank lending reporter a higher […]
Natural-gas futures retained its strong gains in an electronic trade on Monday, while crude oil savored a more humble gain. March natural gas surged 17 cents or 3.3%, to $5.40 per million British thermal units, prolonging sharp gains from last week as cold weather slammed the eastern US. March crude oil gained 37 cents, or 0.4%, to 100.72 […]
The US dollar lost its soil versus the Japanese yen and other major peers on Monday, as latest weakness in Japan equities wounded investors’ risk appetite and disappointing US data agitated worries for a slowing economic recoup. The dollar dropped to ¥101.56 from ¥101.81 last Friday, even as the Nikkei Average finished to end with a 0.6% profit […]
The Japanese yen gained against 13 of its major peers, following a report which showed the nation’s economic growth slowed down surprisingly. A dollar benchmark dropped to a two-month low, stretching its two-week decrease, as traders analyzed whether weaker US economic report will urge the Federal Reserve to reckon a slower pace in cutting down stimulus. The Fed will […]
Most Asian shares surged higher on Monday as it nod to Wall Street’s resilience. But Japanese stocks endured both a stronger yen and shocking weak data on economic growth. The Nikkei dived 0.4% as the US dollar a third of a yen to 101.47. A sturdy yen is seen as hostile for Japanese exports and corporate gains, and […]
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Japanese GDP estimates hit sour note Morning Report: 08.30 London • This morning the yen pairs are on the rise as a risk averse environment sees money flow back into the yen. Ironically this is happening on the back of below par Japanese GDP figures and a slump in revised industrial production. • The GBP/JPY is […]
EUR/USD: This pair has been able to maintain its upward journey, moving close to the resistance area at 1.3700. For the northward journey to continue, the price would need to break the resistance area to the upside. The target for this week is at the resistance line of 1.3800. USD/CHF: This pair has been able […]
Japan’s GDP data were the main focus of the Asian session on Monday. The Japanese economy grew at a slower pace in the fourth quarter, at an annualized 1% versus a 2.8% expected. Third quarter GDP was at 1.1%.The weaker-than-expected figure initially dampened risk appetite and caused a drop in Tokyo’s Nikkei, which initially lifted […]
After a tremendous move from the October 2013 lows, the pair USD/SGD is experiencing a healthy correction. Now the pair is near its 50.0 fib level. We expect it may hold and pull back soon towards 1.2650. In the daily and hourly charts RSI supports this view. Support- 1.2555, 1.2536. Resistance- 1.2624, 1.2652. The material […]
New Federal Reserve chairperson Yellen stated that the Fed would maintain an accommodative stance on monetary policy. This caused weakness in USD. Recently released US data was also not supporting USD. As a result, the USD moved lower during the previous week. The USD is trading at the level of 80.10, near the crucial support […]
In Asia, Japan will release the Prelim GDP q/q, Prelim GDP Price Index y/y, Revised Industrial Production m/m and the US will not release any economic data. So the USD/JPY will move with low volatility during this day. TODAY’s TECHNICAL LEVELS: Resistance. 3: 102.12. Resistance. 2: 101.92. Resistance. 1: 101.72. Support. 1: 101.47. Support. 2: […]
There is no economic news to be released from the Eurozone. And the US will not release any economic data because of Bank Holiday, so EUR/USD will move with low volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3775. Strong Resistance:1.3766. Original Resistance: 1.3753. Inner Sell Area: 1.3740. Target Inner Area: 1.3707. Inner […]
Daily chart: The USDX fell to a critical level, as the support level of 80.11 was quite strong and served as strong support for the USDX for several weeks. However, if the USDX does make a breakout at that level, it would be expected to fall to the level of 79.19. On the other hand, […]
Daily chart: GBP/USD consolidated above the support level of 1.6663, after a fairly positive week, within which the bullish bias strengthened sharply. The next target for this pair is the resistance level of 1.6851, but it is very likely that the GBP/USD will start forming a bullish pattern to continue rising. However, we must be […]
EURUSD: EUR looks to extend its bullish offensive with eyes on the 1.3739 level. A cut through here will aim at further upside towards the 1.3800 level, its psycho level. Further out, resistance is seen at the 1.3850 level and then the 1.3900 level. Its weekly RSI is bullish and pointing higher supporting this view. […]
USDCHF: With a follow-through on the back of its previous week losses occurring at the end of the week, further downside is expected. As long as USDCHF trades and holds below the 0.9156/0.9079 levels this view remains valid. Minimum support lies at the 0.8902 level, its Jan 24 2014 low where a violation will push […]
The EUR/USD was trading higher at the end of the week, as stronger than forecast German GDP data extended the pair’s gains. The pair soared in mid-week trade after a survey administered by the European Central Bank showed professional forecasters were upbeat about Eurozone growth prospects in 2014 and 2015. According to experts, the Eurozone […]
The EUR/GBP pair wrapped up a tough week on the downside, as investors continued to prop up the much more attractive pound. Sterling received a boost earlier in the week after the Bank of England hinted at a rate hike as early as 2015, while acknowledging that the unemployment rate would fall to 7% by […]
The USD/CAD was in consolidation mode, after a subdued week of trade saw the pair decline by half a percent. The Canadian dollar has been mildly stronger over the past two weeks, as an improving business climate and five consecutive months of GDP growth in Canada reduced the likelihood of a rate cut in 2014. […]
Overview: USD/CHF is expected to trade in lower range. It is undermined by the negative dollar sentiment and franc demand on the buoyant CHF/JPY cross and on the soft EUR/CHF cross. But the USD/CHF losses are tempered by the positions adjustment before weekend. Daily chart is negative-biased as the MACD is in bearish mode, stochastics […]
Overview: NZD/USD is expected to trade in higher range. It is supported by the negative dollar sentiment, positive investor risk appetite, buoyant commodity prices, hawkish Reserve Bank of New Zealand’s monetary policy stance and kiwi demand on the soft AUD/NZD cross. But the NZD/USD gains are tempered by the positions adjustment before weekend. Daily chart […]
Looking ahead it will be a relatively busy week, with important events and releases for the Japanese yen, the British pound and the euro. Strangely enough it will perhaps not be as important for the US dollar although some US events will need to watched. The week will start relatively quietly as Monday is a […]
Hello eTorians, Are you ready for Valentine’s? You surely prepared for it in one way or the other and probably did not forget to check the markets. The eToro community shared their thoughts (and videos) about Valentine’s on the eToroExperience wall. You still can join the promotion or watch and enjoy the wonderful videos and […]
The euro and the sterling were the best performers during the week, rallying against a broadly weaker dollar which came under pressure as a result of soft US data this week. The dollar only got temporary relief earlier in the week following new Fed Chair Janet Yellen’s testimony at a Congressional sub-committee hearing in which […]
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 […]
Crude prices were seen dropping lower as futures for the West Texas Intermediate (WTI) dropped on the last day of the trading week, dragged lower by the downbeat US retails sales in January and weekly jobless claims. WTI for March delivery dropped 0.41% trading at $99.94 per barrel on the New York Mercantile Exchange at […]
