Daily chart: USD/JPY is breaking the support at the 99.81 level. However, we must bear in mind that the general trend of this pair is still bullish. Eventually, USD/JPY could fall to the support level at 98.25, but if this pair breaks the resistance level at 99.81, it is expected to rise to the level […]
Technical outlook and chart setups: The single currency pair finally reversed from 132.20/25 resistance yesterday. This is also re-enforced by the Fibonacci 0.786 resistance level from the fall between 134.00 levels to 125.00 levels recently. The signal being produced is that of an evening star on a daily chart which indicates that the next move […]
Technical outlook and chart setups: The single currency pair has been set up well for an extended rally towards the 1.5 level and higher from here on. Immediate resistance at the 1.4390/1.44 levels has been breached yesterday. It is expected, that the pair would pull back towards the 1.4270/75 levels now, before continuing to rally […]
The Asian session on Tuesday was very quiet as most currency pairs merely consolidated around prior session levels, while dollar weakness prevails. The greenback weakened further on Monday after some disappointing U.S. economic data. Worse-than-expected existing home sales figures fuelled expectations that the Federal Reserve will keep its stimulus program much longer in order to […]
The dollar-weakness is continuing to hold going into the new trading week, as some disappointing U.S. economic data further weighed down the greenback. A report from the U.S. National Association of Realtors showed that the number of existing home sales fell by 1.2 percent in June to 5.08 million, versus an expected 5.25 million and […]
The Japanese yen showed at the beginning of the week good moves, with gap included. Although it has slightly firmer at these times, it is likely to continue gaining momentum during the American session. Given that it is trading below the psychological level of 100 yen, it is more likely to find support at 99.38 […]
The British pound is touching right now its highest level since June 26, because certain events in the UK have changed the outlook of the British currency in the short term, yet it is still exhibiting a downtrend in the face the coming months. However, observing the graph of weekly pivot levels it was noticed […]
This morning the EUR/USD pair was trading in the area of resistance, 1.3177. Last week it could not break it. Right now in minutes data on U.S. the existing home sales will be known, according to the data already published notice that sales of existing homes in the U.S. fell more than expected in June […]
Strong bullish presence was expected to be found off support zone around 1.5830 which pushed the pair to the upside breaking through the upper limit of the 4H channel that again reached up to 50% Fibonacci level around 1.5275. Now there are two established bottoms around 1.4825 and 1.5050, Moreover, the GBP/USD pair expressed daily […]
The USD/CAD pair rose steeply approaching the key resistance level of the ascending channel around 1.0530 as depicted on the chart. Since then, the pair has established a consolidation range between 1.0450-1.0560 that expressed a false bullish breakout above 1.0555. This false breakout was quickly followed by intensive bearish pressure that led to breakdown of 1.0450 and 1.0380 […]
Consolidation above the previously broken uptrend line goes on this week too after the pair expressed bullish breakout above consolidation range between 1.5050 and 1.5200. The weekly candlestick came bullish for the 2nd week in a row closing at 1.5264 after the pair found strong demand at 1.5050 corresponding to the lower limit of congestion […]
Consolidation above the previously broken uptrend line goes on this week too after the pair established a consolidation range between 1.3060 and 1.3180. The weekly candlestick came bullish for the 2nd week in a row closing at 1.3140 after the pair found strong demand at 1.3060-1.3075 corresponding to SMA 100 and the lower limit of […]
The dollar slid against the yen after some disappointing U.S. economic data on the housing sector. USDJPY extended losses from a pre-data price of 99.53 to fall to 99.27 yen a few minutes after the release of the U.S. existing home sales data at 10am New York time on Monday. According to a report released […]
The Group of Twenty (G20) held a two day meeting in Moscow on Friday and Saturday where finance ministers and central bankers of the world’s twenty most riches countries gathered to discuss the global economy. The gathering in Moscow is seen as a precursor to September’s G20 summit in St. Petersburg. On the agenda was […]
On 20 July 2013, XM hosted their latest free forex workshop in Limassol, Cyprus. XM clients residing or currently staying in Limassol had the opportunity to attend the Learn to Earn Intraday Trading free seminar on 20 July, presented by Certified Instructor and Portfolio Manager Avramis Despotis. Especially customized for intraday traders keen on acquiring […]
Currency markets were quiet during Monday’s European session, with no key economic data releases today. The Japanese yen was the main focus today, as it remains stronger after news of Prime Minister Shinzo Abe’s decisive victory in elections for Japan’s parliament’s upper house. The election win was already priced into markets, so it was the […]
Japan’s ruling Liberal Democratic Party (LDP) led by Prime Minister Shinzo Abe, has won victory in last Sunday’s Upper House elections, meaning Abe now has control of both chambers in the parliament. The LDP first won majority for the Lower House seats back in December 2012, leading to a “bicameral parliament” but after winning the […]
Overview: Since our last analysis, the EUR/NZD pair has been trading in upwards movement, as we expected, the price tested level 1.6640. Anyway, we are still waiting for larger move and bullish movement. I placed Fibonacci expansion to find levels where down corrective phase may finish and I got FE 100% at price 1.6357 and […]
Overview: Since our last analysis, Gold has been trading in upwards movement, price broke our FE 100% at price 1,295.00 and tested level 1,323.00 as we marked on previous analyses like potential scenario. I placed Fibonacci expansion levels to find the potential end of up corrective phase. Thus, price broke FE 100% (1,295.00), we may […]
The Dollar index continues its sideways grinding lower as part of the downard corrective move that started at 84.75. The recent downward move is corrective as implied by the overlapping pattern. There is no clear downward impulsive move here and we still believe that prices are heading towards 82.10-20 area near the 61.8% Fibonacci retracement. […]
Gold made a break out earlier today during the trading hours of the Asia session. As we had mentioned several times before in our previous posts, Gold was expected to make an upward break towards $1,320-40 to finish the corrective wave C that started at $1,208. The sideways pattern that was formed, gave us clear […]
On Friday, the European currency was trading rather calmly against the US dollar. All the attention was turned to the measures taken by People’s Bank of China and during the election in Japan which led aside major investors from investing into risk assets. Trading closed in favour of the euro. It strengthened against the US […]
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 04/23/2024: EUR/USD, GBP/USD, Oil, SP500 and… April 23, 2024 We introduce you to the daily updated section of Forex…What do the smaller US surveys say about the US economy? […]
USD/CAD Elliott Wave Last week the USD/CAD pair was trading in a triangle consolidation pattern and we can consider this move as possible corrective wave 4 (coloured blue). During Friday’s Asian and European sessions we could observe ascending movement from 1.0360 towards the 1/0392 level and we can consider this move as the end of the final […]
July 22nd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist A sharp rally in gold prices overnight with the yellow metal hitting a high of $1.319.70, provides European share markets, particularly precious metal stocks, with a degree of support early Monday. Asian shares were mostly mixed with Japanese stocks losing a bit of momentum […]
AUDUSD Elliott Wave Since our last analyses the AUD/USD pair has been trading upwards, just like we expected, impulsive wave .5 (coloured green) of the bigger wave C (coloured blue) has been developing. During the Friday’s Asian and European sessions we could observe ascending movement from 0.9156 towards the 0.9195 level. Therefore, during the New […]
Today’s Support and Resistance levels: R3: 1.6726 R2: 1.6685 R1: 1.6623 Current Spot: 1.6578 S1: 1.6531 S2: 1.6507 S3: 1.6488 Technical overview: The rally from 1.6558 to 1.6685 was a minor five wave rally, but it was a c-wave rally of a minor expanding flat correction and not the first wave of an impulsive rally. […]
Today’s Support and Resistance levels: R3: 132.78 R2: 132.27 R1: 131.84 Current Spot: 131.43 S1: 131.05 S2: 130.81 S3: 130.30 Technical overview: After the break above the channel resistance line we are looking for a rally back towards the top at 133.81 in a flat correction, which would mark the b-wave and should be followed […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 100.58. Resistance 2: 100.38. Resistance 1: 100.19. Support 1: 99.94. Support 2: 99.75. Support 3: 99.55. DESCRIPTION: Please pay attention to the levels of support 3 (99.55) and resistance 3 (100.58). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, […]
TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.3221. Strong Resistance: 1.3213. Original Resistance: 1.3200. Inner Sell Area: 1.3187. Target Inner Area: 1.3156. Inner Buy Area: 1.3125. Original Support: 1.3112. Strong Support: 1.3099. Breakout SELL Level: 1.3091. DESCRIPTION: Today EUR/USD has support and resistance at 1.3112 and 1.3200. The rate is accompanied by strong support at […]
