TODAY’s NEWS RELEASE: 1. US – Core CPI m/m TODAY’s TECHNICAL LEVELS: Resistance 3: 99.76. Resistance 2: 99.57. Resistance 1: 99.37. Support 1: 99.12. Support 2: 98.93. Support 3: 98.73. DESCRIPTION: Please pay attention to the levels of support 3 (98.73) and resistance 3 (99.76). Normally, when a level is touched, USD/JPY will rebound […]
TODAY’s NEWS RELEASE: 1. German ZEW Economic Sentiment 2. US – Core CPI m/m TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3152. Strong Resistance: 1.3144. Original Resistance: 1.3131. Inner Sell Area: 1.3118. Target Inner Area: 1.3087. Inner Buy Area: 1.3056. Original Support: 1.3043. Strong Support: 1.3030. Breakout SELL Level: 1.3022. DESCRIPTION: Today EUR/USD has support and resistance at […]
July 16th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist A subdued but mildly positive start for European share markets this morning as investors gear up for a torrent of economic data together with testimony to US Congress by Federal Reserve chief Ben Bernanke on Wednesday and Thursday. Risk sentiment remains broadly supportive with […]
Today’s support and resistance levels: R3: 131.31 R2: 131.12 R1: 130.70 Current spot: 130.36 S1: 130.28 S2: 130.08 S3: 129.85 Technical overview: With the break above resistance at 130.56, we now must expect a much more complex correction developing. We should now be looking for a move higher towards the top at 133.81. This expected […]
For today, EUR/JPY already found the uptrend, this is confirmed by all the three moving averages forming the Golden Cross pattern. Please pay attention to Germany’s ZEW Economic Sentiment this afternoon; this news release will be give a significant impact who can make EUR/JPY continues their uptrend way or make a reversal way for this […]
Daily chart: GBP/USD dropped to support at the 1.5023 level and made a bullish rebound at that level. For now, there is a possibility of a formation of a lower high pattern, below the resistance level of 1.5159. If the pair manages to break that level, it is expected to rise to the level of […]
Currency markets went nowhere during the Asian session on Tuesday, trading in tight ranges. The Australian dollar was the only G10 currency that moved. The Aussie got a big boost after the release of Reserve Bank of Australia July policy meeting minutes. The central-bank’s tone was a little less suggestive of near-term easing than markets […]
Currency markets were exceptionally quiet on Monday, with very little movement in currency pairs from last Friday. The day began with economic data from China, which showed second quarter GDP rose in line with expectations at 7.5 percent. Markets seemed satisfied with this. The Europe session had a lack of data and the dollar made […]
The USD/CAD pair rose steeply approaching the key resistance level of the ascending channel around at 1.0530 as depicted in 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 intesive bearish pressure that led to breakdown of 1.0450 […]
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 […]
On Friday, the EUR/USD pair expressed weekly bullish engulfing candlestick that closed at 1.3067 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. […]
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. The demand level around 1.5000 (also a psychological support) was broken, supported by the positive fundamental data that was released then. On Wednesday, while the pair was consolidating […]
Overview Based on the shown H4 chart, silver is still stabilizing between the Support 19.65 and the Resistance level 20.00 after its rebound from the Resistance level 20.00 last week. If silver continues its bearish move and manages to break the Support level 19.65, this will give a strong indicator for the downward move and open […]
Overview: From the today’s H4 chart, the price opened this week inside the bearish channel and currently is testing its upper boundary after its rebound from its lower limit with the Support level 149.65 yesterday. More bearish signals would be expected in case of bouncing from the upper limit of the bearish channel to break the […]
The U.S. dollar gained strength against most major counterparts in the European session on Monday as investors remain bullish in the greenback. Many believe the US economy is on a recovering trend and expect the Federal Reserve to begin scaling back its bond buying program later this year. Such stimulus measures which include buying $85 […]
Overview: Since our last analysis, the EUR/NZD pair has been trading upward movement, as we expected, the price tested the level of 1.6792. The price rejected from level 1.6221 and tested 1.6792 on very high volume. I placed Fibonacci expansion to find levels where down corrective phase may finish and I got FE 100% at […]
Overview: Since our last analysis, Gold has been trading sideways around the price 1,283.00, we are still waiting for larger move and testing the level of 1,151.00. I placed new 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, […]
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USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading upwards, impulsive wave 5 (coloured blue) of the bigger wave [5] (coloured red) has been developing. During the Friday’s, Asian and European sessions we could observe ascending movement from 1.0322 towards the 1.0443 level and we can consider this move as the […]
AUD/USD Elliott Wave Last week the AUD/USD pair was trading downwards, just like we expected, impulsive wave 1 (coloured blue) of the bigger wave [5] (coloured red) was developing. During the Friday’s Asian and European sessions we could observe descending movement from 0.9182 towards the 0.8999 level and we can consider this move as the end of […]
Wave analysis: Friday’s trading session did not change the ongoing wave outlook for the pair. It could be considered an up correction in regard to down trend pattern which was formed within June 17 and July 9. Meanwhile, it looks like the Thursday’s high is wave a in […]
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 Dollar Index did not make any significant price move on Friday and it is mostly moving in a sideways pattern. This is not very bullish but at least the important support levels in the intermediate term are held. As mentioned in previous posts, the rise from 80.50 is over and the correction has reached […]
Gold held its support levels on Friday and was trying to make an upward break. As mentioned in previous post, first target at $1,294 was achieved. Next target is at $1,340. It seems the prices are moving upwards in an impulsive pattern, which most probably is wave C of the upward corrective move that started […]
TODAY’s NEWS RELEASE: 1. Japan Bank Holiday. 2. US- Retail Sales. TODAY’s TECHNICAL LEVELS: Resistance 3: 99.76. Resistance 2: 99.57. Resistance 1: 99.37. Support 1: 99.12. Support 2: 98.93. Support 3: 98.73. DESCRIPTION: Please pay attention to the levels of support 3 (98.73) and resistance 3 (99.76). Normally, when a level is touched, USD/JPY will […]
TODAY’s NEWS RELEASE: US – Retail Sales. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3152. Strong Resistance: 1.3144. Original Resistance: 1.3131. Inner Sell Area: 1.3118. Target Inner Area: 1.3087. Inner Buy Area: 1.3056. Original Support: 1.3043. Strong Support: 1.3030. Breakout SELL Level: 1.3022. DESCRIPTION: Today EUR/USD has support and resistance at 1.3043 and 1.3131. The rate […]
Weekly pivot point: Trading recommendations: GBPUSD: According to previous events, the price has still been trapped between 1.5140 and 1.5100. Long buying: Buy above 1.5050 with the first target at 1.5133, it might resume to 1.5221 in order to form double top. Short selling: Outlook –1–: Swing trade at 1.5280 in order to sell with […]
Weekly pivot point: Overview: The EUR/USD pair has broken a major resistance at 1.2980. Moreover, it should be noted that the weekly pivot point is calculated at 1.3009 and it is now approaching from it. Therefore, an upside movement will probably start at this area and recovery will begin again. Thus, the market will […]
Daily chart: CL begins a decisive week for the development of the general trend, because currently CL is forming a lower high pattern, above the support at 103.85 level. If CL manages to break the resistance level of 106.70, it is expected to rise to the level of 109.93. Furthermore, there is a possibility that […]
Daily chart: Apparently, the USDJPY pair will continue its bearish rally this week, because at present, this pair is forming a higher low pattern below the resistance at the 99.81 level. If USDJPY manages to break the support at the 98.25 level, it is expected to fall to the level of 96.38. However, if this […]
