Breakout above 1.3450 allowed the bulls to push within the bullish channel to hit further supply levels around 1.3650 then 1.3750. This bullish momentum was taking place until obvious bearish rejection was expressed at 1.3850 (failing to reach 100% Fibonacci Expansion at 1.3904). A breakdown of the depicted bullish channel took place shortly after (January […]
The greenback advanced against most of its peers as investors continue to speculate that the US Federal Reserve (Fed) will reduce its bond purchases further at its next meeting scheduled for January 28-19, after data released showed signs that the world’s biggest economy is growing at a slow pace. Meanwhile the Japanese yen is rising […]
Fundamentally, the pound sterling Pound rose quickly after showing a sharp decline in the unemployment rate. This enhanced the image on the economic recovery of the UK. The bulls managed to break through 1.6450-1.6490 (61.8% – 50% Fibonacci levels and the upper limit of the ongoing channel). This invalidated our short-term bearish scenario. Today, the […]
Overview: NZD/USD is expected to trade with risks skewed lower. It is undermined by the Kiwi sales on soft NZD/JPY cross amid increased in investor risk aversion. But NZD/USD losses are tempered by negative dollar sentiment, hawkish Reserve Bank of New Zealand’s monetary policy stance, Kiwi demand on soft AUD/NZD cross and positions adjustment before […]
Overview: GBP/JPY is expected to trade with risks skewed lower.It is undermined by the increased investor risk aversion and Japan exporter sales. But GBP/JPY losses are tempered by the positive euro sentiment and demand from Japan importers. Daily chart is mixed as MACD is bearish, 5 and 15 day moving averages are falling, but stochastics […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6617 on very high volume. Currently, we can observe strong demand on the market and selling looks very risky. The price has reached our third target level at 1.6490, and our next upper station […]
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 19, 2024 April 19, 2024 Potential for the further drop on NAS100The material has been…Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision… April 19, […]
FOREX Daily Outlook by Easy-Forex.com The EU Morning Report – Kiwi climbs as country’s inflation accelerates – 21 January 2013 Written by the easy-forex team Currencies The euro (EUR) advanced from its two month low at 1.3507 up to 1.3567 against the US dollar (USD). On the calendar, the German ZEW Economic Sentiment due at […]
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 the hawkish Reserve Bank of New Zealand’s monetary policy stance. Daily chart is mixed as MACD is bullish, but stochastics is neutral, the bearish outside-day-range […]
Technical outlook and chart setups: 1. Gold rallied towards resistance at $1,267.00 yesterday. This surprising move also tested the dropping trend line resistance. It is still recommended to remain flat and watch for a reaction here. 2. Immediate resistance is still at $1,267.00/70, while supports are spread through $1,230.00/32.00, $1,220.00/10.00, and $1,184.00 respectively. 3. Structure […]
GBP/JPY is expected to trade in range. It is supported by demand from the Japan importers and buoyant USD/JPY undertone. But GBP/JPY upside is limited by the Japan exporter sales. Daily chart is mixed as MACD is bearish, 5- and 15-day moving averages are falling. but stochastics is bullish in oversold zone. Trading recommendation: The […]
Technical outlook and chart setups: 1. The EUR/JPY pair remains unchanged since a few trade sessions, drifting sideways between 140.50 and 142.00. It is recommended to remain flat for now and initiate short positions around 143.00/50. 2. Immediate resistance is at 143.00, followed by 145.00/50, while support is at 140.50 (intermediary), followed by 138.50, 134.00 […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upwards,as we expected, the price tested the level of 1.6434 on very high volume. As you can see in the chart, after the selling climatic action at 1.6270, EUR/NZD started upward movement. Currently, we can observe strong demand on the market and selling looks […]
Technical outlook and chart setups: 1. The GBP/CHF pair reverses just shy – by 20 pips – of the fibonacci convergence at 1.5145/50, as seen on the chart here. It is recommended to sell rallies from here on. The risk remains at 1.5180. 2.Immediate resistance is at 1.5140/50, followed by 1.5250, while supports are spread […]
Yesterday we noted in our analysis how important is for the short-term trend the fact that the Dollar index has broken the upward sloping purple trend line. We noted that important support was 80.40 and the index has reached it. The rejection at 81.50 was a bad sign for bulls as we mentioned in previous […]
Daily chart: Finally, the USDX was able to consolidate again below the 200 SMA, after it had found dynamic resistance at that level. Now, the USDX is consolidating below the level of 80.62. It is very likely that the USDX start forming a higher low pattern, to fall to the support level of 80.11. The […]
Overview: The NZD/USD pair is going to continue rise upright from the price of 0.8210. Equally importantly, it should note that 38.2% of Fibonacci retracement levels and the level 0.8215 are conforming at the same price for that this level is probably going to form triple bottom. Accordingly, the Kiwi is shown signs of strength […]
Daily chart: The GBP/USD is consolidating above the level of 1.6540, after it has made a very bullish move vertically. If this pair manages to break the resistance level of 1.6663, it would be expected to rise to the level of 1.6851. Furthermore, this pair is forming a bullish pattern below the level of 1.6663, […]
EUR/USD: It was mentioned yesterday that the GBP/USD and the EUR/USD would soon go into a positive correlation. Based on what is happening now, the former has gained strength as well as the latter. The EUR/USD is currently testing the resistance line at 1.3700, and it could break it to the upside. USD/CHF: As a […]
Overview: The EUR/USD pair resistance was broken and it was turned to support at the price of 1.3653 yesterday (January 23, 2014), therefore the pair has already formed a new strong support at the 1.3653 level. Moreover, after it had closed above it today, the pair started signing the bullish market, Additionaly, It should also […]
General overview for 24/01/2014 07:50 CET The important intraday support was violated yesterday and since then the price hasn’t made any new high yet. This type of price action might suggest more complex corrective cycle developing or the beginning of a new impulsive wave progression to the downside. To confirm any of this two possibilities, […]
General overview for 23/01/2014 15:50 CET The corrective structure on hourly time frame is getting more complex and time-consuming as the price is rather close to invalidate the main impulsive count. The critical area for impulsive count not to be invalidated is between weekly pivot at the level of 141.42 and intraday support at the […]
General overview for 24/01/2014 07:30 CET Due to waves overlap, the main count has been invalidated and alternate count is the correct one. Intraday waves progression suggests a possible triangle pattern forming within the wave X black, as long as the green trend lines are not violated. Otherwise, the sell-off might accelerate once the level […]
Overview: USD/JPY is under pressure. It is supported by positive dollar sentiment(ICE spot dollar index last 81.19 versus 81.09 early Wednesday), higher U.S. Treasury yields amid expectations that the Federal Reserve will continue winding down its bond-buying program at the end of its two-day meeting on Jan. 29, and ultra-loose Bank of Japan’s monetary policy. […]
The weaker existing home sales and unemployment data makes the US dollar weaker. The US housing market sales jumped in December for the first time in 5 months. Total existing home sales increased 1% to a seasonally adjusted annual rate of 4.87 million in December, whereas 4.94 million units had been expected. Comparing with the […]
General overview for 23/01/2014 14:50 CET The target area indicated yesterday has been hit but the market extended the move up even higher and this was the reason to take a look at my longer term count for this pair. The outlook is not very much bullish anymore as the impulsive wave development on daily […]
There is no economic data to be released in Japan and the US today, so there is probability for this pair to move with low volatility. TODAY’s TECHNICAL LEVELS: Resistance. 3 : 104.03. Resistance. 2 : 103.83. Resistance. 1 : 103.63. Support. 1 : 103.38. Support. 2 : 103.18. Support. 3 : 102.97. DESCRIPTION: Please, […]
Overview: USD/CHF is trading in a lower range and is expected to continue the trend. It is supported by positive dollar sentiment and a drop in Switzerland ZEW-Credit Suisse indicator of economic sentiment to 36.4 in January from 39.4 in December. Daily chart is mixed as MACD is bullish, 5 and 15-day moving averages are […]
When the European market opens, some economic news will be released such as Italian Retail Sales m/m, Belgian NBB Business Climate.The US will not release any economic data today, so amid the reports, EUR/USD will move low with medium volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3756. Strong Resistance:1.3747. Original Resistance: 1.3734. […]
Yesterday we noted in our analysis how important is for the short-term trend the fact that the Dollar index has broken the upward sloping purple trend line. We noted that important support was 80.40 and the index has reached it. The rejection at 81.50 was a bad sign for bulls as we mentioned in previous […]
