The euro fell during yesterday’s session to around 1.30 psychological level. This level is important as it attracts a lot of attention of market participants, the fall of the euro also was found in first support weekly, 1.3007. This level is key to defining the movement of the euro, so above 1.30 the pair […]
The USD/CAD pair rose steeply last week approaching key resistance level of the ascending channel around at 1.0530 as depicted on the chart. The pair expressed quite significant bearish movement in the past two days due to bearish rejection expressed at the upper limit of the ascending channel. Today, the possibility of a downside move is still […]
On Monday, the EUR/USD pair expressed quite weak bullish movement corresponding to the usual sluggish movement of Monday trading sessions which was followed by bearish rejection that took place during the past three days. The nearest demand zone is located around 1.2970-1.2950 which corresponds to uptrend line and a previous consolidation zone established in May. […]
Obvious bearish rejection at 61.8% Fibonacci located around price level 1.5750 pushed the pair strongly below SMA 100 which came to meet the pair around 1.5400. Now the pair is trading below both 50% Fibo and SMA 100 which is enhancing the bears to achieve new lows. The current daily candlestick has already stepped below […]
Overview: According to the previous events, the USD/CAD pair has still been trapped between 1.0435 (78% of Fibonacci retracement levels) and 1.0555 (100% of Fibonacci retracement levels). The support sets at the level of 1.0350, therefore the bulls are going to buy above 1.0350 with the first target of 1.0415, it might resume to […]
Trading recommendations: According to the previous events, the pair of GBP/USD is still between the levels of 1.5225 and 1.5280. The descending movement will probably be lower than the 1.5380 level with the first targets at 1.5260 and 1.5200. Buy deals are recommended above 1.5180 with targets at 1.5287 and 1.5370. Notes: Trend (time […]
Currency markets were somewhat calmer in European trading on Thursday. Investors feel less nervous that the Federal Reserve will cut off stimulus soon after Fed Bank of Richmond President Jeffrey Lacker said yesterday that the Fed is far from cutting back on its $85 billion a month bond purchase program, which is helping the economic […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has continued trading downwards, corrective sub-wave C (coloured green) of the wave 4 (coloured blue) has been developing. During the Wednesday’s Asian and European sessions we could observe strong descending movement from 1.0503 towards the 1.0457 level. Therefore, during the New York session this commodity […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading upwards, corrective wave c (coloured green) of the bigger wave 4 (coloured blue) has finished developing. Yesterday, during the Asian and half European session we could observe ascending movement from 0.9245 towards the 0.9344 level and we can consider this movement as the […]
Yesterday the Bank of England published financial stability report and it was not optimistic. The Bank outlined the risks which are observed in the short term. UK Chancellor of the Exchequer George Osborne set out spending cuts for the next year. Announcing budget reductions yesterday, Osborne protected spending on defense, schools and hospitals and increased […]
EURUSD: The EURUSD pair is still in a serious bearish trend, though the pair seems to be retracing a little bit towards the upside. The resistance line at 1.3100 is a barrier to this bullish retracement, so the price could either fall before it reaches that line or just as it reaches it. USDCHF: There is […]
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 24, 2024 April 24, 2024 Potential for the downside movement on the NAS100The material has…Forex forecast 04/24/2024: EUR/USD, USD/CAD, Oil and Bitcoin… April 24, 2024 We […]
Technical outlook and chart setups: A daily chart view has been presented here for recent down swing view and resistance levels. Immediate resistance is seen at 23.00 level, followed by 25.00 and higher; while support is at 18.00 and 17.00 respectively. At present, it looks to be consolidating between 18-19 levels and a possible reversal […]
Yesterday data on US GDP in the first quarter, as we expected, was a surprise. However, it was revised downwardly from 2.4% to 1.8%. Surprisingly S&P 500 grew 0.94%, the euro fell 65 points. Yesterday the ECB president Mario Draghi dropped pessimistically a hint that the ECB had made all but impossible to stabilize markets. […]
FOREX Daily Outlook by Easy-Forex.com Gold on bearish outlook The euro (EUR) continues to slide against the US dollar (USD) as the pair trades at just above 1.3080. The single currency has found strong resistance at 1.3140 after it had risen from a 6 month low. The pair is heavily influenced by fundamentals such as […]
Technical outlook and chart setups: A daily chart view is presented here highlighting the recent downswing and expected reversal at weekly congestion. Immediate chart resistance is at 1,420.00 level, followed by 1,475/80 and higher levels, while support is at 1,200/1,150 levels (as per weekly charts). At present, prices are consolidating near the weekly congestion of […]
Overview: Since our last analysis Gold has been trading downward moves like we expected, we got our second short-term target level FE 100% at price 1,221.00. Price tested level 1,221.00 and if price breaks level 1.219.00 we may expect testing of weekly FE level 161.8% at price 1,151.00. I saw decreasing volume in the previous […]
Technical outlook and chart setups: The single currency pair is poised to accelerate downfall once 125.00 level gives way. It is recommended to remain short for now and add further on intraday rallies. Immediate resistance is at the tweezer top formation around resistance line at 130.00 level, followed by 131/132, and 134.00 levels on the […]
Technical outlook and chart setups: The single currency pair seems to have formed an intermediate bottom ahead of 1.43 level and is pushing higher at the moment. The sloping downtrend line is converging at 1.46 level. Hence a push higher than that would instigate further confidence that bulls are in control. Immediate resistance is at […]
Overview: Since our last analysis the EUR/NZD pair has been trading downward moving like we expected. We tested level 1.6630 (our FE 161.8 %). I placed Fibonacci expansion levels to find potential end of down correction, where we are currently. I got FE 161.8% at price 1.6630 which is level we are testing currently. Current […]
Overview: EUR/NZD is in downtrend over the mid to long term. I placed Fibonacci Expansion levels to find potential end of correction. We got swing A at price 1.4961, swing B at price 1.6353, swing C at price 1.5076 and potential swing D and FE 161.8% (potential end of correction) at price 1.7320. Since price […]
Yesterday the Australian dollar overcame 0.9294 area. After three attempts to break it, this pair at the moment is trading at 0.9322. Now it must face the 0.9341 area. A closure 4H chart above this level will open the way to the area of 0.9519, psychological level. It is the first weekly resistance. This morning […]
June 27th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened mixed this morning, after the EU Finance Ministers reached a deal about future bank bailouts and who is liable to pay for them. According to the new rules, shareholders, bondholders and depositors with more than €100,000 should share the burden […]
This morning at the American session еhe Australian Dollar managed to reach the strong resistance of 0.9341, weekly pivot level. We notice that the pair is proving difficult to break this level, if that happened we must wait for closure of 4H above 0.9341. However, our strategy now is to sell at current price levels, […]
Today’s Support and Resistance levels: R3: 1.6789 R2: 1.6746 R1: 1.6700 Current Spot: 1.6661 S1: 1.6625 S2: 1.6578 S3: 1.6519 Technical overview: With the break below important support at 1.6825 (top of red wave i) we knew that we had seen the top of black wave v and wave C at 1.7111. Even though we […]
Daily chart: The USDX continues to consolidate above the support at 82.51 level. Now, the USDX is forming a lower high pattern, to try to climb to the next resistance level of 83.22, which is very possible if the fundamental news for the USDX to become positive during the rest of the week. If the […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 98.24. Resistance 2: 98.07. Resistance 1: 97.88. Support 1: 97.63. Support 2: 97.43. Support 3: 97.24. DESCRIPTION: Please pay attention to the levels of support 3 (97.24) and resistance 3 (98.24). 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: 1.3078. Strong Resistance: 1.3071. Original Resistance: 1.3058. Inner Sell Area: 1.3045. Target Inner Area: 1.3015. Inner Buy Area: 1.2985. Original Support: 1.2972. Strong Support: 1.2959. Breakout SELL Level: 1.2952. DESCRIPTION: Today EUR/USD has support and resistance at 1.2972 and 1.3058. The rate is accompanied by strong support at 1.2959 […]
Today’s support and resistance levels: R3: 128.45 R2: 127.95 R1: 127.50 Current Spot: 127.40 S1: 127.03 S2: 126.85 S3: 126.13 Technical overview: The short-term important support was attacked again yesterday and once again the attempt failed. The lack of downside pressure is kind of worrying and as the structure of the decline from 129.90 is […]
For today, EUR/JPY is still in the bearish pressure, this is already indicated by all the three Moving Averages already making a Death Cross pattern, as long the candle does not touch the EMA 100 (the green ones), then the market is still in the healthy downtrend. RECOMMENDATION: Sell stop (pending order) at 126.99. Take […]
