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 […]
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 […]
Gold has made some good gains in the past four weeks, moving off a near three-year low of $1,180 hit on June 28. Gold has since gained over $160 an ounce to reach $1,338 this week. Helping bullion’s rise was dollar weakness. The two assets usually have an inverse price relationship. A softer dollar that […]
Trading recommendations: NZD/USD: According to the previous events, the price has still been trapped between 0.7940 and 0.79855. Long buying: Buy above 0.7850 with the first target of 0.7963, it might resume to 0.8065. Short selling: Outlook -1-: Swing trade at 0.8065 in order to sell with a traget of 0.7870. Outlook -2-: Below […]
Notes: Range: 46 pips, then a risk of 46 pips must make a profit of 69.00. Volatility: 47.58, therefore the market indicates the higher volatility. (Volatility Formulas Variation = Average * (Higher – Lower)). Overview: The resistance of USD/CAD sets at the level of 1.0495, therefore the bears are going to sell below 1.0495 […]
The European session on Tuesday got off to a slow start, with most currency pairs trading within prior session ranges. A lack of any economic data or news headlines as well as the summer holiday lull is keeping currency markets directionless as volumes are low. The dollar started the European session weak, under pressure following […]
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, […]
Overview: Since our last analysis, the EUR/NZD pair has been trading sideways movement around price 1.6500, 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 FE 161.8% at price 1.6030. The current […]
EURUSD: The EURUSD pair is already testing the price level at 1.3200 in what is rightly termed a bullish mode. The price would breach that level to the upside, going towards the resistance level at 1.3250. Meanwhile, the price ought not to go below the support level of 1.3100 when being corrected lower. USDCHF: The USDCHF […]
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 1,339.00 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 […]
Yesterday the pound grew amid data on US Existing Home Sales. However, the rise was observed amid weak data. Thus, the US dollar is weakening. Today at 12:30 UTC+4 BBA Loans for House Purchase in the UK in June is published; forecast 38,500 vs. 36,100 in May. From the technical point of view, the price […]
The major Monday’s news, US Existing Home Sales in June, was negative; sales were 5.08 million vs. expectations for 5.27 million. Data on May was revised downwardly from 5.18 million to 5.14 million. Goldman Sachs has immediately downgraded US economic outlook in the second quarter from 0.8% to 0.7%. The euro grew 43 points. Today […]
Technical outlook and chart setups: Silver hit 20.50 level yesterday. Minimum expectations are for 21.00 level before a meaningful retracement occurs. It is hence recommended to remain long for a while now. Resistance is at 22.50 level higher up, while support is at 19.20/30, followed by 18.70/57 and lower at 18.00 level. It is recommended […]
Gold held support yesterday and continued its rise towards the wave relationship where wave C is equal 1.618 times of wave A. Currently this last 5th wave up is nearly 100% equal to wave 1 and 3. Additionaly prices have already completed 5 waves up and there are increased chances of a downward move. At […]
Technical outlook and chart setups: The metal has surpassed expectations at 1,320.00 level as expected. Current levels should be met with resistance due to following reasons: 1). Sloping downtrend line passing 2). The 0.618 Fibonacci resistance level intersecting. It is recommended to book complete profits on long positions taken earlier and wait for a dip […]
The Dollar Index has finally reached 82.10 and the area of 61.8% Fibonacci retracement of the move 80.50-84.75. As we were saying for so long in our previous posts, the downward correction that started at 84.75 was not over yet and the most probable target to end the correction was the 82.10 price level. Finally […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading downwards, just like we expected, impulsive wave 5 (coloured blue) of the bigger wave (A) (coloured green) has been developing. During the Monday’s Asian and European sessions we could observe descending movement from 1.0362 towards the 1.0331 level. Therefore, during the New York session this […]
AUDUSD Elliott Wave For the last few days the AUD/USD pair has been trading upwards, corrective wave C (coloured blue) of the bigger wave (4) (coloured green) has been developing. Yesterday, during the Asian session we could observe ascending movement from 0.9170 towards the 0.9232 level.Therefore, during the New York session this major currency has continued trading […]
Today’s Support and Resistance levels: R3: 1.6612 R2: 1.6582 R3: 1.6552 Current Spot: 1.6511 S1: 1.6477 S2: 1.6461 S3: 1.6427 Technical overview: Yesterday we saw a break above resistance at 1.6638, but the break was not sustained and the following decline was deep. However, we are convinced that we have seen the low of wave […]
Today’s Support and Resistance levels: R3: 132.27 R2: 131.86 R1: 131.49 Current Spot: 131.36 S1: 131.04 S2: 130.72 S3: 130.34 Technical overview: With the break below support at 131.05 we have got the first sign, that the b-wave rally since the 124.96 low is becoming weaker. It is still to early to tell whether wave […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 100.00. Resistance 2: 99.81. Resistance 1: 99.61. Support 1: 99.37. Support 2: 99.18. Support 3: 98.98. DESCRIPTION: Please pay attention to the levels of support 3 (98.98) and resistance 3 (100.00). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but […]
TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.3254. Strong Resistance: 1.3246. Original Resistance: 1.3233. Inner Sell Area: 1.3220. Target Inner Area: 1.3189. Inner Buy Area: 1.3158. Original Support: 1.3145. Strong Support: 1.3132. Breakout SELL Level: 1.3124. DESCRIPTION: Today EUR/USD has support and resistance at 1.3145 and 1.3233. The rate is accompanied by strong support at […]
The uptrend from the EUR/JPY pair is already slower. It is indicated by this currency already hit and breached bellow the EMA 100 (Green). It seems 132.00 is already a strong resistance for now. Please pay attention for 130.75 level, if this level can be breached down by this currency, this will indicate the reversal […]
Daily chart: CL failed to climb to the resistance at the 109.93 level and now, CL is again trying to break support at 106.70 level. If CL manages to break that level, it is expected to fall to the level of 103.85. On the other hand, it is very possible that CL undertakes a bullish […]
July 23rd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened higher this morning, as disappointing US home sales data buoyed hopes of continued monetary stimulus from the US Federal Reserve in the near future. Meanwhile, investors would keep a close eye on corporate earnings to get hints about the market’s […]
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 […]
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 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 […]
