Overview: The USD/JPY to consolidate in higher range as markets await 1230 GMT U.S. June non-farm payrolls (expected to have added 160,000 jobs) & unemployment rate (expected to have eased to 7.5% from May’s 7.6%). The USD/JPY supported by reduced safe-haven appeal of yen as risk sentiment improved after the Bank of England and European […]
Daily bars: A downtrend can be seen on the daily chart. We can also observe a convergence between the price and MACD histogram which signifies a soon correction or trend reversal. It is worthwhile to look for buy signals. H4 chart: The pair resumed it uptrend from the average at 0.914 on the smaller time […]
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 […]
Overview: Since our last analysis, Gold has been trading downwards as we expected. It continued down and tested the level 1,233.00. We rejected from FE 261.8 % (1H chart ) at price 1,267.00 and tested 1,233.00. I placed Fibonacci expansion levels to find the potential end of up corrective phase. Thus, I got FE 261.8% […]
Overview: Since our last analysis the EUR/NZD pair has been trading downward movement, price tested level 1.6422 on high volume. Since we broke previous down swing at price 1.6573, the EUR/NZD started major corrective phase. I placed Fibonacci expansion to find levels where corrective phase may finish and i got FE 100 % at price […]
AUD/USD Elliott Wave For the last few days the AUD/USD pair has been trading upwards, corrective wave A (coloured blue) of the bigger wave [4] (coloured red) has been developing. Yesterday, during the Asian and European session we could observe ascending movement from 0.9085 towards the 0.9178 level. Therefore, during the New York session this currency […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading downwards, corrective waves A and B (coloured blue) of the bigger wave [2] (coloured red) has been developing. Yesterday, during the Asian session we could observe ascending movement from 1.0500 towards the 1.0556 level. Therefore, during the early European session this major currency […]
EUR/USD: The pair has been trending lower in this week – having gone down by more than 130 pips. This downward trend is expected to continue, and the price could break the support line at 1.2800 to the downside, should the fundamentals coming out today favor the extant outlook on this market. USD/CHF: Yes, the […]
The BoE yesterday left its monetary policy stance unchanged. However, investors felt Marc Carney’s firm determination to unconditionally lower the interest rate in near future. The pound closed 207 points lower. Today at 16:30 GMT+4 we expect the data on non-farm payrolls in the USA for June. Analysts project 165K against 175K in May. But […]
July 5th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened mixed this morning, following the previous session’s rally, as investors looked ahead to the release of US nonfarm payrolls data, which might throw further clarity on prospects of the US Fed scaling back its monetary policy measures. Meanwhile, the IMF […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 100.89. Resistance. 2 : 100.70. Resistance. 1 : 100.50. Support. 1 : 100.26. Support. 2 : 100.06. Support. 3 : 99.86. DESCRIPTION: Please, pay attention to the levels of support 3 (99.86) and resistance 3 (100.89). Normally, when a level is touched, the USD/JPY will rebound […]
Today’s support and resistance levels: R3: 1.6590 R2: 1.6560 R1: 1.6529 Current spot: 1.6520 S1: 1.6462 S2: 1.6428 S3: 1.6388 Technical overview: Our triangle scenario panned out perfectly yesterday. We saw a minor correction to 1.6720 before the major decline occurred. We are currently in a correction from the low at 1.6429. This correction could […]
Today’s support and resistance levels: R3: 130.28 (important resistance – can be broken at any moment) R2: 129.81 R1: 129.64 Current spot: 129.29 S1: 129.16 S2: 128.84 S3: 128.37 Technical ovreview: We are likely to be just on the edge of a powerful decline towards 127.82 and 126.87 as the next targets lower. That said, […]
Thursday moves were quite expected. Mario Draghi evoked investors’ interest in the dollar (to increase the euro competitiveness), whereas investors almost tested our target at 1.2870. Thus, Draghi promised to save the minimum refi rate at the same level for at least a year and to introduce negative deposit rates. Moreover, he underscored that there […]
TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.2956. Strong Resistance: 1.2949. Original Resistance: 1.2936. Inner Sell Area: 1.2923. Target Inner Area: 1.2893. Inner Buy Area: 1.2863. Original Support: 1.2850. Strong Support: 1.2837. Breakout SELL Level: 1.2830. DESCRIPTION : Today the EUR/USD has support and resistance at 1.2850 and 1.2936. The rate is accompanied by strong support […]
Yesterday the EUR/JPY confirm change the course to the downside, this indicated by the candlestick already breach bellow the EMA 100(green); however on 30 minute charts they form the triangle pattern that indicates that there is decreased volatility and the market turns to be “choppy”. This kind of market situation usually happens amid such important […]
The Australian dollar was the winner today. The pair remained very strong, which looks very optimistic. Exceeding the 0.91 level, it approaches the 0.9181 key level and if this level is broken, the way will fast until 0.95. Therefore, you could buy at current price levels waiting for this pair to appreciate more, now, our Momentum […]
NZD/USD: Resistance: 0.7913 (sell below this level). Support: 0.7700 (buy above this level for retesting this level for a short period). Trend: downward (the trend still calls for a bearish market). Range: 100 pips. A risk to reward ratio of 1:1.5 is recammended Risk of 50 pips must make a profit of 75. Trading […]
Daily chart: The CL continues forming a lower high pattern, above the support at 100.33 level. Remember that the next target of CL will be the resistance level of 103.85. However, we must consider the CL could make moves in low range for the session today, due to the extreme overbought which has occurred in […]
Daily chart: Yesterday, the GBP/USD was very bearish breaking the support level at 1.5159 and bullish trend line. Now, the GBPUSD has made a small rebound at support level 1.5023. If the pair manages to break this support, it is expected to fall below 1.4894 level. You may be close to that level make a […]
GBP/USD: Resistance: 1.5140. (Sell below this level). Support: 1.5000. (Buy above this level). According to previous events, the price has been trapped between 1.5115 and 1.5070, hence it is of the wisdom to be careful in this area. Therefore, the first step is waiting for a period of a tight sideways range market before […]
Daily chart: The USDX made a strong bearish rebound in the resistance at the 83.74 level and is now trying to break the support at the 83.22 level. If it is successful, it is expected to fall to the level of 82.51. However, we must bear in mind that these movements may be the formation […]
Overview: From today’s H4 chart, the metal is still trading between the support level 19.55 and below the resistance level 18.55 after its failure to break the resistance level yesterday and bounced from it to take a slightly downward move and currently is approaching the support level 18.55 again. Presently, we suggest waiting for closing […]
The euro plummeted after European Central Bank President Mario Draghi made it clear in a post- ECB policy meeting speech today that he is not willing to raise interest rates anytime soon. Draghi reiterated that the Euro zone still needed help. “The risks surrounding the economic outlook for the euro area continue to be on […]
The euro collapsed before the data remained strong above 1.30, but when it became known that the ECB’s monetary policy remained unchanged, the euro fell to the level of 1.2877. This level is now recovering, therefore you can buy at this level, with objectives at 1.2945 and 1.3048. Observing the chart, we expect the euro […]
Yesterday the British pound stopped weekly pivot point, then from there started its fall to the current level of 1.5055. In the afternoon European session the monetary policy was unveiled remaining whith no changes, but the thing caused the decline was the “dovish” policy statement that collapsed all-day Wednesday gains. However, observing the chart, we see that this […]
Gold futures are nearing $1,250 per troy ounce comforted by situation in the Middle East and Portugal. However, the sluggish physical demand in the Asian region and the likelihood of positive labour data in the USA both weigh on the dollar. The fact that the Egyptian President is under arrest increases the probability of […]
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. The pair has been expressing a quite significant bearish reaction since last week due to bearish rejection expressed at the upper limit of the ascending channel. Today, the possibility of a downside move […]
This week, the cable consolidated after hiting a low of 1.5165 last week. This consolidation extended up to 1.5250 which seemed to be minor weak retracement then the bears pressed for new lows, they have hit 1.5128 Yesterday. The prominent support located around 1.5130-1.5150 ( depicted uptrend line and previous double buttom pattern ) expressed […]
The EUR/USD pair broke down demand zone around 1.3000 after the significant decline witnessed at retesting of 1.3400 ( downtrend line ) which took place on June 19. On Friday, the pair expressed significant price action, as the pair expressed false breakout above high of last Thursday’s daily candlestick which enhances the bearish pressure further […]
