Overview: The NZD/USD is to trade in higher range. Underpinned by weaker USD sentiment; improved commodity prices; Kiwi demand on soft AUD/NZD cross. But the NZD/USD gains tempered by worries over economic slowdown in China; caution ahead of Friday’s U.S. June non-farm payrolls and unemployment report. Daily chart mixed as stochastics bearish at oversold; but […]
The Bank of England held its monthly policy meeting on Thursday and as expected, the Monetary Policy Committee announced its decision to keep the benchmark interest rate at a record low 0.50 percent and made no change to its 375 billion pound asset purchase facility. The statement released was dovish and was taken negatively by […]
Overview: The USD/JPY is to trade with risks skewed lower. The liquidity is low due to the fact that the financial markets in the U.S. are shut for holiday. The USD/JPY undermined by weaker USD sentiment (ICE spot dollar index last 83.23 vs 83.53 early Tuesday) on surprise drop in U.S. ISM non-manufacturing composite index […]
Overview: USD/CHF is to trade in a higher range. Undermined by weaker USD sentiment, the franc demand on soft EUR/CHF cross. But the USD/CHF losses tempered by caution ahead of Friday’s U.S. June non-farm payrolls and unemployment report. Daily chart mixed as MACD bullish, but stochastics turning bearish at overbought; inside-day-range pattern completed Wednesday. Trading […]
Overview: The GBP/JPY is to range-trade. It is undermined by weaker euro sentiment amid political turmoil in Portugal; Japan exporter sales. But the GBP/JPY downside limited by demand from Japan importers; caution ahead of Friday’s U.S. June non-farm payrolls and unemployment report. Daily chart mixed as MACD bullish, five-day moving average above 15-day MA and […]
The main market focus was on central bank meeting today, by the Bank of England and European Central Bank. Although both banks left policy unchanged, they gave a dovish tone, sending pound and euro lower. The British pound took a bit hit after the release of the BOE’s Monetary Policy Committee’s decision to keep rates […]
On July 4, 2013 we are calling for 1.5082/96 in the coming days. The UK June services PMI data turned out to be better than expected. So the British pound won back the correction vigorously. The Purchasing Managers’ index for services came in at 56.9 against the forecast of 54.6 and May’s reading of 54.9. […]
Overview: The EURUSD’s support was broken and it was turned to resistance at the level 1.3111 for ten days (June 24, 2013). Therefore, the pair has already formed a strong resistance at 1.3111. Moreover, after it could not close above 38.2% Fibonacci retracements levels and start signing for bearish market, and the price has placed […]
Overview: The USD/CHF pair has still been trapped between 0.9530 – 0.9460 (the price is at 0.9480 for 12 hours), as well as the price has been consolidated below strong resistance at the levels of 0.9570 (61.8% of Fibonacci retracement levels on H4 chart). Additionally, it is worth noting that these levels coincide […]
The British pound took a big hit after the release of the Bank of England monetary policy statement. Although the Monetary Policy Committee’s (MPC) decision to keep rates on hold at 0.50 percent was widely expected, as well as the maintenance of the asset purchase program at 375 billion pounds, the MPC statements appeared pretty […]
Daily After the quotes dropped to the correctional level of 23.6% – 1.5190 and formed a bullish divergence, the pair managed to reverse to GBP and started to grow. As the result, the uptrend may extend to the Fibonacci 38.2% – 1.5405 correctional level. In case the quotes fix below the 23.6% […]
Weekly bars: The longer time frame still demonstrates the uptrend. MACD histogram and EMA are both growing demonstrating a bullish trend. It is worthwhile to search for buy signals. Daily bars: The daily chart shows that the prices continued their rally from the sublevel of support at 1.05. Bulls are targeting 1.058, the upper boundary […]
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 sideways move around price 1.254.00. We rejected from FE 261.8 % (1H chart ) at price 1,267.00 and tested 1,236.00. I placed Fibonacci expansion levels to find potential end of up corrective phase. Thus, I got FE 261.8% at price 1,269.00 and if that level holds, […]
The U.S. Dollar index has made a downward pull back as expected and tested the 61.8% Fibonacci retracement at 83.25. Although it broke below that level, it came back up without breaking the important low at 82.95. Now that the downward correction has retraced the maximum usual size of the previous upward move, we think […]
Overview: Since our last analysis the EUR/NZD pair has been trading sideways moving around price 1.6700. Thus, we are still waiting to see larger move on this pair. Current situation on (4H) time frame is that there is an increasing volume on previous up move, which is a sign there is demand on the market. […]
Gold is currently trading at 1,250. Yesterday it tried to break above recent highs but got rejected at the 1,260 resistance level. Now it is trending lower as expected for wave C to complete near the 50% or 61.8% Fibonacci retracement. We are short with 1,259 stop and target at least 1,232 or even 1,215. […]
USDJPY is hovering below the key 100.00 yen level since breaking below it in Wednesday’s European trading session. There were several retests of this strong resistance level, even in early Asian trading hours this Thursday but with no success in closing above this level and the pair continued to trade below going into today’s European […]
July 4th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Tentative gains for European markets Thursday with investors gearing up for policy meetings by the Bank of England and the European Central Bank together with debt auctions by Spain and France. Political instability in Portugal and the fluid situation in Egypt after Morsi was […]
EUR/USD: The Bearish Confirmation Pattern on the market is still valid, irrespective of recent rallies that happened in the markets. It only happens that the rallies gave opportunities to sell short in the context of a downtrend. The next support line to be tested again is the one at 1.2950 (it was once tested recently). […]
Today’s support and resistance levels: R3: 1.6823 R2: 1.6778 R1: 1.6735 Current spot: 166.85 S1: 1.6646 S2: 1.6600 S3: 1.6550 Technical overview: This correction has become almost impossible to work out. The most likely Elliott wave formation is the price-action over the last week with a new triangle developed as a new minor x-wave. This […]
TODAY’s TECHNICAL LEVELS: Resistance. 3 : 100.42. Resistance. 2 : 100.22. Resistance. 1 : 100.03. Support. 1 : 99.78. Support. 2 : 99.59. Support. 3 : 99.39. DESCRIPTION: Please, pay attention to the levels of support 3 (99.39) and resistance 3 (100.42). Normally, when a level is touched, the USD/JPY will rebound […]
TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3082. Strong Resistance: 1.3075. Original Resistance: 1.3062. Inner Sell Area: 1.3049. Target Inner Area: 1.3019. Inner Buy Area: 1.2989. Original Support: 1.2976. Strong Support: 1.2963. Breakout SELL Level: 1.2956. DESCRIPTION: Today the EUR/USD has support and resistance at 1.2976 and 1.3062. The rate is accompanied by strong support […]
Today’s support and resistance levels: R3: 131.12 R2: 130.81 R1: 130.28 Current spot: 129.79 S1: 129.41 S2: 129.06 S3: 128.65 Technical overview: Yesterday we moved a little higher, than our expected resistance at 130.69 (the high came in at 130.80), before the floor was dragged away under this cross. The decline from 131.12 down to […]
The Asian session on Thursday was relatively quiet as most investors are waiting on the sidelines for the European Central Bank meeting later today, while volumes were light due to the U.S. Independence Day holiday today. Risk aversion was back and safe haven assets were in demand, giving the yen a lift. As a result, […]
Yesterday, EUR/JPY already breached bellow the EMA 100 (green) and went back above the EMA 100 (green) again. The bullish situation has already slowed down and the EMA 14 (red) is now between the EMA 34 (blue) and the EMA 100 (green). It indicates that EUR/JPY is now in the ranging situation. RECOMMENDATION: Buy stop […]
The dollar traded higher against the yen during the U.S. session on Wednesday, bouncing off earlier lows, after being lifted by better-than-expected jobs data. The private payrolls processor ADP reported more jobs were created in June, with the U.S. economy gaining 188,000 positions from the prior month’s 134,000 and beat forecast of 161,000 jobs. A […]
Overview As it was expected yesterday, the metal could continue its upward move after closing above the resistance level of 19.55. Today, as shown on the H4 chart, the metal took a slightly upward move after it has managed to close 4H above the resistance level of 19.55. More bullish signals are expected as […]
Overview According to the today’s H4 chart, yesterday’s closing below the resistance level of 152.00 gave the price an opportunity to make a bearish move after it has failed to break it through. As shown here, currently the price is trying to continue its bearish move and is approaching support level 150.80. In that […]
The Australian Dollar reached the expected goal at the level of 0.9053. This level should be consolidated before a new movement, either upward or downward. The strong area of support is at 0.9012, while the dynamic resistance, which is under the downward pressure, is at 0.9390. These levels are the Aussie’s range levels for the […]
