Daily chart: The USDX is forming a higher low pattern, above the support at the 82.51 level. This is a very important part in the development of the USDX bearish trend, because if this manages to break that level, the fall could be extended to the level of 81.50, near the 200-day moving average. However, […]
Daily chart: GBP/USD is trying to break the resistance at the 1.5266 level to continue to rise and move closer to the 200 day moving average. During this week, we could wait for GBP/USD to break this level and go up to the level of 1.5407. However, we must bear in mind that this pair […]
Weekly technical levels: General idea about the pivot point: R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and […]
EUR/USD: This pair closed at 1.3141, in what could be rightly termed a bullish mode. This bullish mode is expected to continue this week, reaching the resistance lines of 1.3200 and 1.3250 respectively. Along the way, normal corrections ought not take the price below the support line of 1.3000. USD/CHF: USD/CHF is also expected to […]
The yen strengthened after Japan’s Prime Minister Shinzo Abe’s coalition wins the country’s Upper House elections on Sunday. Abe’s win gives him greater control over the government to push ahead reforms and aggressive monetary policy. The question now dominating investors’ minds is how he will go ahead implementing these reforms. As a result there was […]
The U.S. dollar is softer overall today, down 0.2 percent versus euro and losing 0.3 percent against sterling. EURUSD traded the US session between $1.3101 and $1.3152. GBPUSD edged higher to $1.5276 from $1.5250. Dollar was also weak against the yen, where most of the focus was today as markets want to take some risk […]
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 61.8% Fibonacci level around 1.5180. Last week, on Friday, bearish price action was expressed around 61.8% Fibonacci level depicted in the […]
The Australian dollar was favored because China today announced the removal of certain borrowing costs, which favored the Aussie, which is recovered at this time. Australia is China’s biggest trading partner, and the fundamentals of the Asian giant impact than ever on the Aussie. But this pair has resistance at the 0.9250 level which extends […]
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 […]
Last week, the EUR/USD pair expressed massive bullish price action after hiting the previously mentioned demand zone extending between 1.2750-1.2820. This demand zone corresponds to a previous low established in March as well as another bottom established in May, this pushed the pair to trade again above the depicted broken uptrend line. It was expected […]
The cable witnessed a rapid fall towards 1.5025, breaking the corrective uptrend line which came to meet the pair around 1.5150, then support zone around 1.5000-1.5020. Last week, while the pair was consolidating near support area extending down to 1.4830 (the low of March), strong bullish price action was expressed as expected to push the […]
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 26th. Bulls continue to advance after the GDP… April 26, 2024 The EUR/USD pair on Thursday rebounded from the corrective level…Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed […]
The currency markets were relatively subdued during the European session, quite normal for a Friday and low volumes as the summer holiday lull arrives. Newsflow was limited today but investors are keeping an eye on a meeting of finance ministers and central bankers from the Group of 20 nations. The euro was mostly stuck in […]
Overview: Since our last analysis, Gold has been trading in sideways movement around price 1,286.00, price rejected fifth time from our FE 100% at price 1,295.00. I placed Fibonacci expansion levels to find the potential end of up corrective phase. Thus, I got FE 100% at price 1,295.00 and if that level holds, we may […]
Overview: Since our last analysis, the EUR/NZD pair has been trading in downward movement, the price tested level 1.6492. 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 FE 161.8% at […]
Gold has found support in the lower boundaries of the sideways triangle and has bounced upwards towards the upper boundaries of the triangle. Prices continue to trade within the corrective price range and there is still no clear direction or trend signal. Upper boundaries provide resistance at the $1,291 price level and support at the […]
EURUSD: The EURUSD pair has been able to maintain its bullish outlook for this week, though the northward move is not that strong. It is still very much possible that the price may touch the resistance line at 1.3200 today or early next week, for the indicators on the chart are still in favor of […]
As mentioned in our previous analysis, the Dollar Index was moving upwards in an overlapping pattern implying that it was still in a corrective upward move. More downside was expected towards the 61.8% Fibonacci retracement at the 82.10 price level. Resistance at 83 was not possible to overcome. Prices got rejected and moved lower towards […]
USD/CAD Elliott Wave This week the USD/CAD pair has been trading in a sideways move, we can consider this move as a triangle pattern of the corrective wave 4 (coloured blue). Yesterday, during the Asian and European sessions we could observe descending movement from 1.0438 towards the 1.0389 level. Therefore, during the New York session this commodity currency has […]
AUDUSD Elliott Wave For the last few days the AUD/USD pair has been trading upwards, just like we expected, impulsive wave 5 (coloured green) of the C wave (coloured blue) has been developing. Yesterday, during the Asian and European sessions we could observe sideways movement between the 0.9136 and 0.9184 level. Therefore, during the New York session this major […]
On Thursday, the US dollar grew against the euro amid data on US Initial Jobless Claims and Philadelphia Fed index. Trading session closed in favour of the US dollar which strengthened against the euro 17 points, market volatility was 60 points. Fundamental review: Current Account surplus in the Eurozone narrowed in May. According to the […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 100.23. Resistance 2: 100.03. Resistance 1: 99.84. Support 1: 99.60. Support 2: 99.41. Support 3: 99.21. DESCRIPTION: Please pay attention to the levels of support 3 (99.21) and resistance 3 (100.23). 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: 1.3172. Strong Resistance: 1.3164. Original Resistance: 1.3151. Inner Sell Area: 1.3138. Target Inner Area: 1.3107. Inner Buy Area: 1.3076. Original Support: 1.3063. Strong Support: 1.3050. Breakout SELL Level: 1.3042. DESCRIPTION: Today EUR/USD has support and resistance at 1.3063 and 1.3151. The rate is accompanied by strong support at 1.3050 […]
Today’s Support and Resistance levels: R3: 1.6685 R2: 1.6633 R1: 1.6613 Current Spot: 1.6598 S1: 1.6590 S2: 1.6570 S3: 1.6558 Technical overview: The minor road-map we laid out yesterday has pretty much described the price action. However, the decline from the top at 1.6685 (we expected a top at 1.6675) was deeper than our expected […]
Today’s Support and Resistance levels: R3: 132.48 R2: 132.10 R1: 131.75 Current Spot: 131.34 S1: 131.06 S2: 130.79 S3: 130.28 Technical overview: After the break above the falling channel resistance line, we are working our way higher towards the top at 133.81. This weak rally will, as we have said, be a bumpy ride, with […]
Daily chart: CL broke the resistance at the 106.79 level, having formed a lower high pattern below this level. The next target for CL could be the resistance level of 109.93. However, we must bear in mind that it is still very far from that level to the current price of CL, so we should […]
Overview: USD/CHF’s subsequent sharp fall suggests that a decline from 0.9560 had resumed to test 0.9483. Moreover, the pair has already formed a strong support at this psychological level of 0.9300. It should also be noted that the price has still been trapped between 0.9483 and 0.9400. Therefore, after it could not close below this […]
For today, because this currency still has a good and a healthy uptrend, EUR/JPY continues going to the upside. But please be aware of a small retracement, as long the pair does not touch the EMA 100 (green), the uptrend is still strong. RECOMMENDATION: Buy stop (pending order) at 131.76. Take profit at 131.90. […]
Overview: The resistance of USD/CAD sets at the level of 1.0500, therefore the bears are going to sell below 1.0500 because there is a double top on the price 1.0504. So it should also be noted that the resistance sets at the level of 1.0500, thus swing trade at 1.0500 in order to sell […]
The Asian session action was dominated by the yen as markets got jittery ahead of a key risk event this weekend in Japan. The Tokyo stock markets fells hard while the safe haven yet was bought as investors position for the Upper House elections. If Prime Minister Shinzo Ave wins with sole majority he would […]
