The U.S. dollar gained across the board after upbeat growth data as well as private nonfarm jobs numbers that gave optimism over the U.S. economic outlook. The U.S. second quarter GDP showed an increase of 1.7 percent, beating the consensus estimate of 1.0 percent. The robust GDP report came after ADP payroll processing firm said […]
EURUSD: The EURUSD pair continues to move sideways in what can still be sensibly called a bullish bias. The resistance line at 1.3300 remains under siege, and it could be breached to the upside, as the price would try to go further upside towards to the resistance line of 1.3350. USDCHF: This pair as well […]
It was fairly obvious that nothing much happened in the currency markets so far today, as the quietness from the Asian session moved over to the European session. There was no key fundamental data in the European session to have any huge effect on currencies, except some upbeat German jobs numbers which helped lift euro […]
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 05, 2024 April 7, 2024 Potential for the further drop on NAS100 ….The material has…Why is gold defying gravity? – Special Report April 7, 2024 Gold […]
Yesterday the pound was declining, as the result it fell 100 points. Today at 16:15 UTC+4 US ADP Non-Farm Payrolls in July is published, forecast 179K vs. 188K. AT 16:30 UTC+4 US GDP in the second quarter is revealed, forecast 1.1% vs. 1.8% in the first quarter. At the same time data on PCE in […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways movement around price 1.6623, we are still waiting larger movement and future upwards. I placed Fibonacci expansion to find levels where down corrective phase may finish and I got FE 100% at price 1.6357 and FE 161.8% at price 1.6030. The current situation […]
During the European session the euro was growing amid the GfK Consumer Confidence Survey in August (7.0 vs. forecast for 6.9); The Eurozone Retail PMI (49.5 vs. 49.1). However, when the trading session in the US was opened, the price reversed sharply. In the media it was said that the prerequisites were in Barack Obama’s […]
The Dollar Index was rejected at the first resistance level we noted yesterday at 82. The downward sloping channel was not broken and prices got rejected at resistance. This is a sign of weakness and we expect the low at 81.50 to be put to the test. Short-term trend remains down as long as prices […]
Overview: Since our last analysis, Gold has been trading sideways around the price 1,332.00, we are still waiting future down movement. I placed Fibonacci expansion levels to find the potential end of up corrective phase. We are still likely to see testing of the weekly FE level 161.8% at price 1,151.00. I saw no demand […]
Gold continues its sideways movement inside the triangle. This pattern after the top of 1,348 is a sideways triangle and not the downward impulsive move that we were expecting. Prices still remain inside the long-term upward sloping trend channel from 1,180 and today we post an alternative wave count that every passing day makes it […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading upwards, just like we expected, impulsive wave .1 (coloured green) of the bigger wave A (coloured blue) has been developing. Yesterday, during the Asian session we could observe descending movement from 1.0290 towards the 1.0257 level. Therefore, during the European and New York sessions this commodity currency did […]
AUDUSD Elliott Wave For the last few days the AUD/USD pair has been trading downwards, impulsive wave .3 (coloured green) of the bigger wave 1 (coloured blue) has been developing. Yesterday, during the Asian and European sessions we could observe descending movement from 0.9187 towards the 0.9075 level. Therefore, during the New York session this major currency has continued […]
The euro received a boost against the dollar after some upbeat economic data in early European session trading on Wednesday. Germany’s unemployment report came in better than expected, as the number of jobless Germans fell for the second straight month in July, while the official unemployment rate remained steady. The unemployment rate held steady at […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 98.54. Resistance 2: 98.35. Resistance 1: 98.16. Support 1: 97.92. Support 2: 97.73. Support 3: 97.53. DESCRIPTION: Please pay attention to the levels of support 3 (97.53) and resistance 3 (98.54). 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: 1.3329. Strong Resistance: 1.3321. Original Resistance: 1.3308. Inner Sell Area: 1.3295. Target Inner Area: 1.3264. Inner Buy Area: 1.3233. Original Support: 1.3220. Strong Support: 1.3207. Breakout SELL Level: 1.3199. DESCRIPTION: Today EUR/USD has support and resistance at 1.3220 and 1.3308. The rate is accompanied by strong support at […]
Overview: USD/CHF’s subsequent sharp fall suggests that a decline from 0.9367 had resumed to test 0.9300. It should be noted that a range will be around 55 pips, as well as the volatility is calculated 100,42therefore the market indicates the higher volatility. Moreover, the pair has already formed a strong support at this level of […]
Forecast: GBPUSD: According to previous events, the price has still been trapped between 1.5285 and 1.5240. Buy above 1.5178 with the first target of 1.5225, it might resume to 1.5280. Stop loss should be set below 1.5100, additionally the weekly support 2 is set at the level of 1.5100. Therefore, the best location […]
Daily chart: CL broke the support at 103.85 level. It is very likely that CL begins to aim toward the support at 100.33 level. On the other hand, we must bear in mind that CL could make consolidation movements below the resistance at 103.85 level. The fall to the 100.33 level, would not be as […]
Daily chart: The GBPUSD pair has broken the support level at 1.5266 and is likely to fall to the level of 1.5159. However, this pair could form a higher low pattern, to follow the current bearish trend. If GBPUSD manages to break the resistance at the 1.5266 level, it is expected to rise again to […]
Today’s Support and Resistance levels: R3: 1.6762 R2: 1.6686 R1: 1.6649 Current Spot: 1.6612 S1: 1.6577 S2: 1.6543 S3: 1.6514 Technical summary: With an almost perfect test of strong resistance at 1.6686 (the high has been 1.6674) we think that a correction of this red wave i towards 1.6577 and likely deeper towards 1.6543 would […]
Today’s Support and Resistance levels: R3: 131.17 R2: 130.72 R1: 130.31 Current Spot: 130.10 S1: 129.81 S2: 129.59 S3: 128.89 Technical summary: We are still in wave ii of c and we do expect it to move higher towards 131.17, where wave ii will have corrected 50% of wave i, but we would not be […]
July 31st, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened mostly lower this morning, as investors awaited the monetary policy statement from US Federal Reserve, to get further clarification on the central bank’s stance on its stimulus measures. Meanwhile, tomorrow’s policy meetings of the ECB and BoE will also be […]
With all the three moving averages still making a Death Cross formation pattern, no doubt EUR/JPY will extend the downtrend today, as long it does not touch 130.50. If this level is breached, then the downtrend will hold at least for today. RECOMMENDATION: Sell stop (pending order) at 129.74. Take profit at 129.60. Stop loss […]
The Asian session on Wednesday was very quiet as expected, with most currencies tight ranges ahead of a slew of economic data and the very important FOMC policy announcement. Market players are being cautious and waiting to see what the Federal Reserve policy statement will reveal with regards to when it will decide to reduce […]
Currency markets had a flattish day due to light volumes ahead of the Federal Reserve policy announcement on Wednesday. Market participants prefer waiting on the sidelines and were reluctant to carry significant positions overnight. So until the Fed announcement we will not likely see any clear direction in currencies. The first day of a two-day […]
On Tuesday, the EUR/USD pair showed an uptrend, close to the fractal 1.3304 on the 4H chart. You might notice, this level is offering much resistance, as the ECB and Fed will meet this. Therefore, we recommend you to operate with caution, do not expose your account risk, and always remember your stop loss when […]
Yesterday the pound closed below the weekly pivot point of 1.5358; it is now in a downtrend. Given that there is a weekly support below 1.5378 and the 15-day moving average is around 1.5250, it is more likely that among these levels the pair stops the fall. Therefore, it is recommended to buy, only […]
Recently the Australian dollar has suffered a sharp decline due to various local fundamentals. On the one hand, the Reserve Bank of Australia governor Glenn Stevens said there is still room to cut interest rates and the currency may depreciate further. On the other hand, a sharp drop in building permits in June, which […]
Overview As shown from the today’s H4 chart, the metal failed again to break the Support level 19.65 and is still trading above the Support and below the Resistance level 20.00 and currently is bouncing from the Support level and starting for the bullish move. So we still suggest waiting for closing above the […]
Important key resistance at 1.5400 is located on the daily chart corresponding to 61.8% Fibonacci Level extending up to 1.5440, previous daily high. This upcoming resistance was expected to put some bearish pressure leading towards some bearish retracement which already reached 1.5290 (50% Fibonacci). However, Thursday’s bullish engulfing daily candlestick, the low of which hardly […]
