The dollar is broadly lower as investors are anticipating the Federal Reserve policy meeting minutes from the June meeting due later in the day as well as Fed Chief Bernanke’s speech. During the European session the dollar eased against the euro and pound, giving some relief to these currencies that suffered huge losses on Tuesday. […]
EUR/USD: The EUR/USD is still in a bearish mode, and it is expected that the present rally would be temporary in nature, giving another opportunity to sell short in the direction of the bearish trend. As long as the indicators confirm the bearish mode, the price could go on towards the support line of 1.2750. […]
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 […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading upwards, corrective wave Y (coloured blue) of the bigger wave [4] (coloured red) has been developing. During the Tuesdays Asian session we could observe ascending movement from 0.9119 towards the 0.9197 level. Therefore, during the European and New York session this major currency […]
USD/CAD Elliott Wave For the last few days, the USD/CAD pair has been trading slightly lower, corrective sub-wave .c (coloured green) of the bigger wave 4 (coloured blue) has been developing. Yesterday, during the Asian and European session we could observe descending movement from 1.0652 towards the 1.0513 level. Therefore, during the New York session this commodity currency […]
The euro remains weak a day after Italy’s sovereign credit rating was lowered by Standard & Poor’s. Europe’s third largest economy has been downgraded by one notch from BBB+ to BBB. Italy is now two notches above junk status following the rating downgrade, with a negative outlook that suggests a further downgrade is possible. In […]
July 10th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Stock markets are pausing for breath this morning following bumper gains since the start of the week. That said, equities remain broadly supported thanks to the improved sentiment in global markets which sees investors being able to shake off bad news such as S&P’s […]
Gold made a short-term top yesterday at 1,260. Prices pulled back as the rally that started from 1,208 was not strong enough to break above the recent high in one go. That is why prices got rejected and we saw a pullback towards 1,240. As mentioned yesterday, bulls should be worried if prices break below […]
Dollar index has broken above the resistance of 84.36. As we mentioned yesterday, for bulls to regain momentum, prices needed to break above 84.36. If that were to happen, a new high would be expected. And so it did. Prices moved sharply higher towards 84.75 and made a new high. Prices held support at 83.95 […]
Overview: Since our last analysis, the EUR/NZD pair has been trading downward movement. The price broke level 1.6348 (FE 100 %) and tested 1.6219. Since we broke level 1.6348,we may expect testing of level 1.6030 (FE 161.8 %). I placed Fibonacci expansion to find levels where corrective phase may finish and I got FE 100 […]
Overview: Since our last analysis, Gold has been trading sideways around price 1,251.00,we are still waiting larger move and testing of level 1,151.00. I placed Fibonacci expansion levels to find the potential end of up corrective phase. Thus, I got FE 261.8% at price 1,269.00 and if that level holds, we may see a down […]
Today’s Support and Resistance levels: R3: 130.11 R2: 129.69 R1: 129.35 Current Spot: 129.05 S1: 128.70 S2: 128.44 S3: 128.10 Technical overview: As we said yesterday, the price action that we saw Monday was not supportive for an imminent decline. Rather it did flash that one more rally towards 130.59 was needed and that is […]
Today’s Support and Resistance levels: R3: 1.6460 R2: 1.6416 R1: 1.6331 Current Spot: 1.6300 S1: 1.6286 S2: 1.6227 S3: 1.6174 Technical overview: With the break below 1.6390 we knew that the rally from 1.6390 to 1.6688 was “only” an x-wave and that a decline to 1.6249 was to be expected. We now have a triple zig-zag […]
Daily chart: The CL is breaking the resistance at 103.85 level, if successful, it’s expected to rise to the level of 106.70. Above this resistance, the CL will try to form a lower high pattern and continue rising. However, keep in mind that the CL has had a very bullish week and it is most […]
Daily chart: During yesterday’s session, the GBP/USD fell and broke the support at the 1.4894 level and the bullish trend line. Now, this pair is finished to form a higher low pattern below these levels and if it succeeds, it is likely to fall to the level of 1.4719. The overall outlook for this pair […]
TODAY’s NEWS RELEASES: 1. FOMC Meeting Minutes. 2. Mr. Ben Bernanke Speaks. TODAY’s TECHNICAL LEVELS: Resistance. 3 : 101.64. Resistance. 2 : 101.45. Resistance. 1 : 101.25. Support. 1 : 101.00. Support. 2 : 100.80. Support. 3 : 100.60. DESCRIPTION: Please, pay attention to the levels of support 3 (100.60) and resistance […]
TODAY’s NEWS RELEASES: 1. FOMC Meeting Minutes. 2. Mr. Ben Bernanke speech. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.2839. Strong Resistance: 1.2832. Original Resistance: 1.2819. Inner Sell Area: 1.2806. Target Inner Area: 1.2776. Inner Buy Area: 1.2746. Original Support: 1.2733. Strong Support: 1.2720. Breakout SELL Level: 1.2713. DESCRIPTION : Today the EUR/USD has support and […]
The EUR have get a pressure from the yen, this situation already confirmed by all the three Moving Average already that form the “Death Cross” pattern; please pay attention to the FOMC Meeting Minutes and Mr. Ben Bernanke speech tonight. RECOMMENDATION : SELL Stop (Pending Order) @ 128.99. Take Profit @ 128.85. Stop Loss @ […]
Overview: USD/CHF’s subsequent sharp fall suggests that decline from 0.9837 since a month and had resumed to 0.9620 (it will be formed a strong support). Moreover, it should be noted that the price has still been trapped between 0.9760 — 0.9683 and the price has been set below strong resistance at the levels of 0.9837/0.98. […]
Overview: The EUR/USD’s support has broken and it was turned to resistance for nine days (2nd of July 2013), thus the pair has already formed a strong resistance at 1.3003. Moreover, after it couldn’t close above 38.2% Fibonacci retracements levels and start signing for a bearish market, as well as the price has placed […]
The USD/CAD pair rose steeply last week 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. Despite the signs of bearish reversal expressed around 1.0550, all trials for breakdown below 1.0450-1.0425 have been aborted untill we had a bullish […]
Last week, a bullish price action was expressed around 61.8% Fibonacci level depicted on the daily chart around 1.5130 which was followed by the marked price fall below all the strong levels at 1.5180 and 1.5020. Now the pair is fixated below 1.5000-1.5020 which adds further bearish pressure to the pair to reach 1.5830 (previous monthly low) where […]
On Friday, the EUR/USD pair expressed quite significant bearish weekly closure at 1.2830 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 buttom established in May which is being breached today. It’s expected for the pair to gain some […]
Overview From today’s H4 chart, the metal is still trading between the Support level 18.55 and below the Resistance level 19.55 after it failed to break the Resistance level yesterday and bounced from it to take a slightly downward move. Currently, it is approaching the Support level 18.55 again. Presently we suggest waiting for closing […]
China data showed an unexpected fall in imports and exports, despite forecasts for an increase. This dampened sentiment in the markets, since China is the second largest economy in the world. This comes on the backdrop of more funding control in China, which could lead to a cash crunch. Meanwhile the Bank of Japan policy […]
The Cable witnessed rapid fall towards 1.5025, breaking the corrective uptrend line which came to meet the pair around 1.5080 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 from U.S. last Friday. Currently, the pair is standing at support area extending […]
Overview: From the today’s H4 chart, yesterday’s closing below the resistance level 150.80 gives the price an opportunity for a bearish move. As shown here, currently the price is trying to continue its bearish move by breaking the support level 150.00 and closing 4h below. In that case, we may get another opportunity for […]
The euro was hammered after comments made by European Central Bank policymaker Joerg Asmussen, who signalled to the markets that loose monetary policy is here to stay for now, and that record low interest rates are to stay for an extended period of more than 12 months. Strength in the dollar was boosted by these […]
GBPUSD remains under pressure with most indicators showing a bearish bias. On the hourly chart, the pair remains below the 50-hour and 200-hour moving averages. RSI has fallen below 50, approaching oversold territory but still slightly above 30 so not extreme yet. This could give some scope for a bounce to enter a short position. […]
Focus seems to remain on the Federal Reserve and its potential scaling back on stimulus, keeping dollar buoyed. During the European session, the dollar made the most gains against the British pound, and also strengthened against the euro as well as yen. This lifted the dollar index, which measures the USD against a currency basket, […]
