Risk aversion dominated the currency markets on the last day of the month, causing volatility and buoying the safe haven yen, while the dollar was stronger against the euro and the pound. Month-end repositioning also played a role in directing currency flows. The euro had a rough week, falling down to 2-month lows after extending […]
Overview: USD/JPY is expected to trade in higher range. Liquidity was thin in Asia as financial markets in many countries in the region were shut for holiday. USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 81.07 versus 80.55 early Thursday) as advance estimate of fourth-quarter U.S. GDP matched forecasts with […]
Overview: GBP/JPY is expected to consolidate with bearish bias. It is undermined by the weak EUR/USD undertone and Japan exporter sales. But GBP/JPY losses are tempered by the demand from Japan importers and improved investor risk tolerance. It is also affected by the positions adjustment of traders before weekend. Daily chart is negative-biased as MACD […]
Overview: USD/CHF is expected to trade in a higher range. It is supported by the positive dollar sentiment, reduced safe-appeal of franc as emerging-market currencies are stabilized and weaker-than-expected Switzerland January KOF economic barometer of 1.98 (versus 1.99 forecast). But USD/CHF gains are tempered by the positions adjustment before weekend. Daily chart is mixed as […]
Daily chart: Again, the USDX has consolidated above the support level of 80.62 and now above the 200 SMA. This bullish momentum indicates much indecision in the market, because the USDX has not got out of the range between the levels of 81.50 and 80.11. However, it is very likely that the USDX will try […]
Daily chart: The GBP/USD had a drop below the level of 1.6540 and reached to touch the support level of 1.6447. Now this pair is forming a bearish pattern above that level, but we should remember that at this level the pair usually finds strong support and makes a bullish rebound again to try to […]
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 […]
What is a Friday without the NFP report? A quiet one of course! But a quiet Friday doesn’t mean a calm week. Let’s have a look at this week’s most important events before we move to today’s news and stories. *Japan’s last report talked about a record annual trade deficit, passing the 65% of last […]
An unexpected drop in Eurozone CPI for January 31, 2014 raised fears of deflationary pressures in the region. According to data released on Friday from the EU’s statistics office, Eurostat, consumer prices fell to 0.7% year-on-year in January compared to 0.8 % in December. This was the lowest level since October, which was when inflation […]
In South Africa there is a very popular TV show called 7de Laan, translated to English it’s 7th Avenue. It airs Monday to Friday at 18:30 PM and is on air for 30 minutes. A while ago I read about a motivational speaker who visited a small town near Cape Town. He encountered a strange phenomenon […]
Economist are forecasting the greenback to strengthen to its best since 2010 against its peers, as investors are expecting reports to show the world’s largest economy increased its spending for an eighth month. Meanwhile, the Japanese yen added monthly gains against a basket of its major peers while stocks for the country declined and reports […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards. Just as we expected, the price tested level of 1.6733 on high volume. We can observe that strong demand has entered the market at price 1.6613 which is good sign of bullish strength. I have placed Fibonacci levels to find next upper level […]
Overview: NZD/USD is expected to trade in lower range. It is undermined by the Kiwi sales on rebounding AUD/NZD cross and positive dollar sentiment. But NZD/USD downside is limited by hawkish Reserve Bank of New Zealand’s monetary policy stance. Daily chart is mixed as MACD is bullish but stochastics is neutral, bearish outside-day-range pattern is […]
Technical outlook and chart setups: 1. The GBP/USD pair is poised to move lower towards 1.6100/1.6000. It is recommended to hold on to short positions for now and also look to add further on intraday rallies. Major top seems to have been formed at 1.6650/60 levels. 2. Immediate resistance is at 1.6630/50, while supports are […]
Technical outlook and chart setups: 1. The USD/CHF pair has produced an engulfing bullish signal on daily chart yesterday. It is currently trading above 0.9000 and is poised to push further high. Hence recommendations are to hold long positions and look to add further on dips. Risk remains at 0.8800. 2. Immediate resistance is the […]
Technical outlook and chart setups: 1. As seen here, the USD/JPY has bounced off the lows at 102.00 yesterday. Please note that 102.00 is the fibonacci 0.382 support as well. A push above 103.50 would confirm that bottom is in place at 102.00 and bullish trend should continue. It is recommended to hold long positions […]
Technical outlook and chart setups: 1. The EUR/USD pair is back towards range bottom at the 1.3530/50 levels. It is recommended to keep short positions taken yesterday. A push through 1.3500 would prove to be extremely bearish, while risk remains at 1.3850. 2. Immediate resistance is at 1.3740/50, followed by 1.3850, while supports are spread […]
Technical outlook and chart setups: 1. The EUR/JPY pair has drifted into yet another low at 138.70 today. Implications are ripe for a counter trend rally from here, towards 143.00 as seen here. It is recommended to remain flat for now and sell around 143.00 levels for further downside. 2. Immediate resistance is at 143.00, […]
Technical outlook and chart setups: 1. The GBP/CHF pair is setting up to reach towards 1.4900/50 from here on as seen in the chart attached here. It is recommended to hold on to short positions taken earlier and also plan to add further if prices reach 1.4900/50. Please note that the current rally can be […]
Technical outlook and chart setups: 1. The NZD/USD pair seems to be heading towards 0.8000 levels at the moment, in a corrective manner. It is recommended to initiate short positions now (0.8130), risk remains at 0.8250 at least. 2. Immediate resistance is at 0.8430, followed by 0.8540 (intermediary), and 0.8600/50, while supports are spread through […]
Technical outlook and chart setups: 1. A weekly chart view has been presented here for the overall wave structure. The intermediary downtrend that had begun from 1.1000 levels is on its way towards 0.7950, which is 0.618 fibonacci support of the entire upswing between 0.6000 to 1.1000. It is recommended to initiate short positions now […]
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, […]
GBP/USD had been trapped inside a wide-ranged price zone extending between 1.5900 and 1.6250 until November 27 when a bullish breakout took place. Since then, the bulls have been defending 1.6250 as a prominent support. Another successful bullish retesting took place in mid-December that pushed the pair again to the upside. Based on this bullish […]
General overview for 31/01/2014 10:00 CET Not much of impulsive price development so far on hourly chart can be spotted. Instead of that, the golden trend line has been tested and so far the price has bounced from it and it is trying to break out higher. The key level is 1.1198 as the last […]
General overview for 31/01/2014 10:00 CET The target for wave (v) blue has been missed by mere 10 pips and it looks like the market had finished the impulsive wave progression to the downside and now it is trying to bounce from the lows. The next cycle should be a corrective wave B green, that […]
As expected by our last analysis, the Dollar index has again reached the important resistance levels above 81. The trend has changed to bullish for the short-term once the downward sloping trend line was broken upwards at 80.60. Our next short-term resistance at 80.80 was broken and our target of 81.10 was reached. Now it […]
Overview: The EUR/USD pair has broken a major support at the level of 1.3643. But in case the daily pivot point is at the 1.3587 level, then the market will indicate a bearish opportunity below this price. Additionally, it is now approaching to it; therefore, it will probably start downside movement at this area and […]
Overview: The price of USD/CHF pair has still been moving between 0.9063 and 0.9000 but it should noticed that the price has set below strong resistance at the levels of 0.9098 (0.9102: 78.6% of Fibonacci retracement levels in H1 chart). Moreover, it is worthy of note that these levels are coinciding between 50% and 61.8% […]
Overview In H4 chart, the pair failed to break the Support level of 168.50 more than once to continue its bearish move. It has been trading above since yesterday. Today, the H4 chart shows that the pair bounced from the Support area again and started to take a slightly upward move approaching the Resistance level […]
Markets slip back on Aussie PPI Morning Report: 08.45 London • As a continuation of the recent trends in recent weeks, yesterday’s big moves are starting to peel back, led by the S&P 500 and AUD/JPY. • The AUD/JPY is seeing the biggest falls following a disappointing set of PPI figures. • The […]
