A breakout above the previous resistance level of 1.3450 allowed bulls to higher levels around 1.3650, and then 1.3750 within the bullish channel. Later on, obvious bearish rejection was expressed at 1.3850 (failing to reach 100% Fibonacci Expansion at 1.3904). Instead, a breakdown of the lower limit of the depicted bullish channel took place on […]
Overview: USD/CHF is expected to range-trade. It is and supported by the reduced safe-haven appeal of franc as risk aversion recedes. But USD/CHF upside is limited by the franc demand on buoyant CHF/JPY cross. Daily chart is mixed as stochastics is neutral, MACD is in bearish mode, inside-day-range pattern was completed on Tuesday. Trading recommendation: […]
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 volume of retail sales in the Eurozone fell by more-than-forecast in December, as the Christmas shopping season failed to tempt shoppers to spend more. The drop in sales marked the biggest fall since May 2011. According to the EU’s statistics office Eurostat, the volume of retail trade in the 17-member euro area fell 1.6 […]
The GBP/USD pair successfully achieved its projection target around 1.6600 after the bullish breakout above 1.6250. This price level is acting as a daily resistance for the pair until now. Last bullish movement exceeded 1.6600 rendering 1.6666 as the highest price in January. However, bearish engulfing daily candlestick was immediately expressed off these high levels […]
West Texas Intermediate (WTI) climbed during the Asian trading session on Wednesday amid the cold weather in the US, the world’s biggest oil consumer. Futures for the North American WTI crude for March delivery added 0.60% higher to $97.88 per barrel on the New York Mercantile Exchange at the time of writing, while the Brent […]
The services sector for the 18-bloc eurozone expanded in January, showing an improvement for the sixth month in a row, data from Markit Economics confirmed on Wednesday. Eurozone’s final Purchasing Managers’ Index (PMI) for the services sector expanded by 51.6 points in January, slightly higher than the reading of 51 seen in the previous month […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, we tested the level of 1.6363 on ultra high volume (selling climax). We can observe selling climax at the price 1.6363 and also testing of our Fibonacci Retracement 61.8 % (1.6432).. Be careful with selling this pair since we got selling climax and […]
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 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April 18, 2024 We introduce you to the daily updated section of Forex…Video market update for April 18, 2024 April 18, 2024 Potential […]
February 5, 2014 – Forex News Hot asset for today: GBP/USD The EUR/USD has been moving sideways between 1.3495 and 1.3540 since the pair reacted to the very disappointing U.S. ISM Manufacturing PMI. Yesterday the Spanish Unemployment change again showed a serious problem for the Spanish labor market. Contrarily U.S. Factory orders showed a better […]
USDCAD: With its corrective weakness triggered off the 1.1223 level yet to be over, further decline is the likely scenario. USDCAD may be retaining its long term uptrend but its immediate outlook remains to the downside. Nearby support comes in at the 1.1040 level where a violation will aim at the 1.1000 level. Further down, […]
February 5, 2014 – Forex News Hot asset for today: GBP/USD The EUR/USD has been moving sideways between 1.3495 and 1.3540 since the pair reacted on very disappointing U.S. ISM Manufacturing PMI. Yesterday the Spanish Unemployment change again pointed on serious problem on Spanish labor market. Contrarily the U.S. Factory orders showed better than expected […]
Yen dampens rebound Morning Report: 08.45 London • After a muted recovery yesterday, markets are once again looking shaky this morning. There is not movement to speak of on stock markets, but the lack of a compelling rebound could be telling. • The biggest mover is the AUD/JPY, as the Aussie’s post rally sell off […]
Toyota Motor Corp. President Akio Toyoda has put the firm his grandfather established on the road to record profits after years of battling one crisis after another. The shares bolstered the most in seven months. The carmaker yesterday reported earnings quintupled last quarter and increased its projection for the fiscal year ending March 31 to […]
House Republican leaders haven’t ruled out a “clean” U.S. credit ceiling hike as a last option to avoid default unless lawmakers can agree on what conditions to look for in exchange, a party aide said. The party aide sought anonymity to characterize the private transactions. Several Republicans stated today they haven’t lined up enough votes […]
Emerging-market stocks sagged down, extending the worst opening to a year on record, on concern the global economic recovery will wane. Lenovo Group Ltd. drove a selloff in technology firms after five analysts depreciates. The MSCI Emerging Markets Index relinquished 1 percent to 917.74, a five-month low. The pullback brought this year’s retreat to 8.5 […]
February 5th 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened lower today, as persisting concerns over further cuts to the Fed’s bond buying size overshadowed a rise in US factory orders excluding transportation. Closer home, the British Retail Consortium revealed tough trading conditions as UK retailers slashed prices at the […]
Weakness to overcome resistance at 81.40-50 will eventually bring the index back to its support levels at 80.40. This weakness sign makes us prefer short positions at current levels with 81.50 as a stop reverse. Short-term support is found at 80.60-40 and this is the first area we could see the decline pause. The short-term […]
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General overview for 05/02/2014 09:30 CET The corrective cycle in wave (ii) purple continues on this pair. There is one more wave to the upside missing according to the main count and the likely target for this wave is the grey rectangle area between the levels of 1.1135 – 1.1149. Any breakout above this area […]
General overview for 05/02/2014 09:00 CET The lack of the impulsive wave development to the upside after supposed bottom for wave 4 purple has been fount doesn’t look good for the main count. Moreover, market has not been able to break out above 137.50 level as well. Currently, the price starts to making lower highs […]
(click to enlarge) The Nikkei 225, the Japanese stock average, was one of the best performing stock markets in the world during 2013, rising in excess of 50%. The last trading day of 2013 also marked a 6-year closing high for the Nikkei 225 at 16,400 (on a front-month futures basis). The level also marks […]
EUR/USD: A rise in the price on Monday, followed by a sideways movement, and then a bearish attempt… This pair is still bearish and is expected to continue going down. Any surge of energy in the USD is certainly going to give the pair another leg down and the price could soon be trading below […]
The reluctance to take risks led to safe haven demand during the Asian session on Wednesday, helping buoy the yen as investors remain nervous about emerging markets. Also a string of key risk events happening in the next two days is keeping caution in the markets. Later in the day US private payrolls will be […]
In Asia, Japan will release the Average Cash Earnings y/y 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, US-Crude Oil Inventories. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium […]
The recent high 98.6 has been acting as the reversal point to the lower levels. In the H4 chart, Stochastic gave a sell signal, where the RSI was still in buy mode. Today, the price is trading above 21DEMA, cmp 97.83 and is standing above yesterday’s high, which is a bull factor. But if we […]
We have seen a 7% correction in Dow. It is trading close to its 200 DEMA but more importantly it has hit RSI oversold zones. Suchlike previous RSI transitions have led to a strong bounce. Also, further dips will take it to trend line/channel supports. We recommend that you buy call from cmp or get […]
The EUR/USD pair has broken its neckline and is attempting to pull back to its near strong resistance level at 1.357 (23.6% fib retracement). An overall trend is down. Price action is currently trading at the level 1.3514 and slightly below previous day close. A break below the level 1.3477 may trigger further downward movement […]
Technical outlook and chart setups: 1. Yesterdays’ price action is an indication to attempt a pullback. Aggressive trade setup is expected to initiate 50% long positions now (137.26). The risk remains at 136.00 at least. 2. Immediate supports are spread through 136.00 (intermediary) followed by 134.00 and lower, while resistances are spread through 142.00 followed […]
Technical outlook and chart setups: 1. The GBP/CHF rallied yesterday, though it is likely to be in a corrective manner now. These rallies should be used to initiate fresh short positions. 1.4940/50 remains key level for bears. It is recommended that you hold short positions and sell intraday rallies as well. 2. Immediate resistance is […]
