Technical outlook and chart setups: 1. The USD/JPY has pulled back from its recent highs at 105.00 levels. Currently trading at 102.00, the pair is at fibonacci 0.382 support as seen here. It is recommended to initiate long positions now, risk remains at 101.00. 2. Immediate resistance is the recent swing highs at 105.00, while […]
Technical outlook and chart setups: 1. EUR/USD pair has been trading between 1.3740 and 1.3500 recently. As seen here, prices have turned back just shy of 1.3745/50, which is the 0.618 fibonacci retracement and resistance. It is recommended to initiate short positions now, risk remains at 1.3850. 2. Immediate resistance is seen at 1.3750/1.3800, while […]
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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:EUR/USD. April 25th. Bulls continue to advance and expect a… April 25, 2024 The EUR/USD pair made a new turnaround in favor of…Forex forecast 04/25/2024: EUR/USD, USDX, Gold and Bitcoin… April […]
The Federal Reserve’s bond buying program which began in late 2008 is slowly being wound down. At the central bank’s first policy meeting of 2014, Fed policymakers unanimously voted in favor of continuing to taper its QE program, slashing it by another $10 billion beginning February 1st. This is the second cut in the $85 […]
General overview for 30/01/2014 11:05 CET The market had made the ending diagonal wave (v) blue and the overall impulsive structure looks completed. Currently the impulsive downside reaction should be in progress and the intraday support at the level of 1.1166 should be violated. Price target is technical support at the level of 1.1118 and […]
General overview for 30/01/2014 10:30 CET The key level from yesterday has not been broken and higher prices had been rejected. After price had broken below 140.80 level the impulsive decline accelerated. Currently the five waves to the downside are almost done and the target for wave (v) blue is at the level of 138.56. […]
Emerging Market Turmoil Returns Morning Report: 08.45 London • This morning, financial markets are making good some of last night’s losses, but the damage still remains. • While stock markets stage a rally of sorts, commodities and commodity related currencies are still under pressure after disappointing Chinese Manufacturing PMI data. Silver is off by […]
British pound sank on a third day against the dollar, before the Bank of England releases its report, which economists said would show mortgage approvals increased to the highest level in six years last month. Sterling has slightly changed against the euro. Loans for home purchases rose to 72,900 in December, from 70,758 a month […]
Zimbabwe’s central bank approved domestic trading of Chinese yuan, Indian rupee, Japanese yen, and Australian dollar within the country. Acting central bank governor Charity Dhliwayo unveiled the decision in an issued monetary statement. “We wish to advise exporters and the general transacting public that individuals and corporates can also open accounts denominated in the Australian Dollar, […]
There is a strong downward bias in EURJPY. The pair has been declining since hitting a more than 3-year high on December 27 2013, retracing almost 50% of the up-leg from the November 2013 low (131.18) to the December 2013 high (145.65). On Wednesday the EURJPY pair set a low of 139.02, the lowest level […]
The announcement by the Fed yesterday to continue with the tapering of the QE program has strengthened the Dollar. The short-term downward sloping resistance trend line was broken and the index reversed higher towards short-term resistance of 80.85. Short-term important support is 80.40. If this level fails to support the index then we will see […]
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The Federal Reserve announced as expected its decision to continue winding down its stimulus program. Fed policy makers unanimously voted to cut the US central bank’s bond buying program by another $10 billion-a-month, to $65 billion. While the news of a reduction in QE would normally be positive for the dollar (since QE tends to […]
In Asia, Japan will release the Retail Sales y/y and the US will release some economic data such as Advance GDP q/q, Unemployment Claims, Advance GDP Price Index q/q, Pending Home Sales m/m, Natural Gas Storage. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with […]
Technical outlook and chart setups: 1. The EUR/JPY is drifting lower for now. Trading below 140.00 levels at the moment, it is recommended to remain flat and initiate short positions on a counter rally towards 143.00/50. The structure remains unchanged for now. 2. Immediate resistance is at 143.00/50, followed by 145.50, while supports are spread […]
Technical outlook and chart setups: 1. The GBP/CHF pair seems to be carving out a head and shoulder reversal as seen here. Prices have turned low from 1.4900 for now. The backside of trendline is also providing resistance around the same level. It is recommended to hold short positions for now. More positions could be […]
EUR/USD: The EUR/USD is still trading above the strong support line at 1.3600 – which has almost been tested this week. The overall bias is bullish and the price ought to go further upwards, breaking the resistance at 1.3700 to the upside this week or next week. USD/CHF: The USD/CHF is still trading below the […]
When the European market opens, some economic news will be released such as German Prelim CPI m/m, Spanish Flash GDP q/q, German Unemployment Change, Italian 10-y Bond Auction. The US will release the most important economic data such as the Advance GDP q/q, Unemployment Claims, Advance GDP Price Index q/q, Pending Home Sales m/m, Natural Gas […]
The US Fed is expected to cut its bond purchases by another $10 billion. So starting in February, it will buy $65 billion in bonds per month. Also, there are growing concerns about the impact of slower growth in China that make the US dollar stronger. Estimates from 11 analysts surveyed showed that US oil […]
Daily chart: The USDX continues forming a higher low pattern below the resistance level of 80.62. Now, the USDX is trying to make a breakout at that level, but the USDX has been very weak in the last few hours, so it is very likely to see falls below this level. However, if the USDX […]
Daily chart: Although the FOMC meeting was held yesterday, the GBP/USD has not significantly changed so that to change the current trend. For now, the GBP/USD continues to find strong support at the 1.6540 level, so it is very likely that this pair has a bullish momentum in the coming days to climb to the […]
Trading recommendations: According to the previous events, the USD/CAD pair is still moving between 1.1185 and 1.1140. Sell below 1.1203 with the first target at 1.1165, then it will be gone towards 1.1125 in order to test this strong support. Buy above 1.1120 (if the trend fails to close below it) with target at 1.1155, […]
Overview: According to beforehand events, the price of GBP/USD pair has still been trapping between the level of 1.6635 and the 1.6515 level, for that it is of the discernment to pay attention at this range area around the level 50% of Fibonacci retracement levels. Therefore, the first step is to looking forward for a […]
He felt really good about this trade. John’s plan recognized a demand zone on the 60 minute NQ E-mini chart and the price action had pulled back as it was about to enter the DZ.The 5 minute chart is where he had placed a bracketed order to go long in the zone with a stop […]
Next door to my house, right against the fence, in the neighbours’ yard, grows a cactus. But not just any cactus, a huge cactus. It must be really old. It reaches probably 20 metres into the sky. Usually we don’t spend much time appreciating this cactus. I mean, it’s not the prettiest plant. And it […]
Like other US dollar pairs, the EUR/USD was in consolidation mode leading up to the Federal Reserve’s monetary policy announcement. The pair struck a high of 1.3684 in the European session after the Gfk Consumer Confidence Indicator beat forecast. Gfk’s Consumer Confidence Indicator measures confidence levels among German consumers. It is used to gauge German […]
The GBP/USD was trading to the downside, despite stronger than forecasted UK housing prices. Investors were trading cautiously ahead of the US Federal Reserve’s policy announcement. UK house prices rose 0.7% in January, according to Nationwide. Year-on-year, house prices appreciated 8.8%, beating forecasts calling for 8.5%. The housing sector has been a cornerstone of UK […]
Overview According to the today’s H4 chart, yesterday’s closing below the resistance level of 171.50 provided an opportunity to make a bearish move after the price has failed to break it through. As shown here, currently the price is trying to continue its bearish move and is approaching support level of 168.50. In that case […]
News headlines were the key drivers in currency markets today, with knee-jerk reactions to any announcements or comments by officials, causing volatility. Focus was clearly still on emerging markets, even after the brief relief rally after the Turkish central bank rate hike. Risk appetite quickly faded and capital flight continued back into safe havens like […]
