Overview: Since our last analysis Gold has been trading downward moves like we expected, we almost got our second short-term target level FE 100% at price 1,221.00. Price tested level 1,223.00 and we may expect testing of level 1,221.00. I saw decreasing volume in the previous move up which is a good sign of weakness […]
On Tuesday, the pound grew during the first half of the day amid strong data on BBA Mortgage Approvals (36.1K vs. 33.0K in April) and CBI Retail Sales in June (1 vs. -11 in May). However, when the US session was opened it started declining amid the strength of the US dollar. The reason why […]
Yesterday the data on the US was better than estimated earlier and it pushed stock markets up and the euro moved downward. US Durable Goods Orders in May grew 3.6% vs. forecast for 3.0%. US New Home Sales in May was 476K vs. forecast for 462K and revised upwardly figures in April, 466K. Today at […]
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 Euro weakened against the dollar after some dovish comments from European Central Bank president Mario Draghi in a press conference on Wednesday in Paris in the French lower house of parliament. Draghi referred to downside risks to the euro zone economy and growth remains fragile, although he believes that it will pick up later […]
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: Silver is searching for bottom formation/support levels. At the moment it remains at the following: 1. Past resistance turned support levels 18.50-19.20. 2. Fibonacci retracement levels of the entire rally from 08-10 to 49.00 level. 3. Fibonacci extension of the downswing from 49.00 to 34.00 level. A bullish reversal is […]
Technical outlook and chart setups: The metal is right at the congestion of the following: 1. Past resistance becoming future support at 1,250.00. 2. Fibonacci retracement (0.50) of the rally between 680.00 to 1,900.00 levels. 3. Fibonacci extensions of the down cycle from 1,900 to sub 1,500 levels. A bullish reversal here should be bought […]
Technical outlook and chart setups: The single currency pair is testing and holding the sloping line of resistance well till now. Indications are towards a fresh low possibly to 121.00 level as depicted here. Immediate resistance is at 131.00, followed by 132.00 and 134.00 on the higher side; while support is strong at 119.00 level […]
Technical outlook and chart setups: As depicted here, and discussed yesterday, the single currency pair has bounced off the Fibonacci 0.618 support ahead of 1.4300 level; of the rally between 1.4075 and 1.4800. The morning star has appeared on the daily chart view and it would hold significance from here on. It is hence recommended […]
Today’s Support and Resistance levels: R3: 1.7055 R2: 1.70606 R1: 1.6960 Current Spot: 1.6917 S1: 1.6913 S2: 1.6846 S3: 1.6825 (Top of red wave i) Technical overview: We saw a new attempt to break above short-term resistance at 1.7006 yesterday, but it failed and that turned us down towards strong support at 1.6825. The support […]
Today’s Support and Resistance levels: R3: 129.14 R2: 128.68 R1: 128.45 Current Spot: 127.76 S1: 127.71 S2: 127.28 S3: 126.76 Technical overview: We saw a new attempt to break below strong short-term support at 127.28 yesterday. This attempt failed, but it is as the downside pressure is getting stronger and stronger. A break below support […]
Daily chart: CL made a bullish rebound in the 200-day moving average and this failed to break the resistance at the 94.46 level. It is possible that CL will rise again until the resistance level at 96.73. However, we recommend caution when doing swing trading in CL, because this has been unable to define a […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 98.45. Resistance 2: 98.26. Resistance 1: 98.07. Support 1: 97.84. Support 2: 97.64. Support 3: 97.44. DESCRIPTION: Please pay attention to the levels of support 3 (97.44) and resistance 3 (98.45). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, […]
TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.3140. Strong Resistance: 1.3132. Original Resistance: 1.3119. Inner Sell Area: 1.3106. Target Inner Area: 1.3075. Inner Buy Area: 1.3144. Original Support: 1.3031. Strong Support: 1.3018. Breakout SELL Level: 1.3010. DESCRIPTION: Today EUR/USD has support and resistance at 1.3031 and 1.3119. The rate is accompanied by strong support at 1.3018 […]
Overview: The EURUSD’s support was broken and it was turned to resistance since seven days (June 20, 2013). Therefore, the pair has already formed a strong resistance at 1.3211. Moreover, after it could not close above 38.2% Fibonacci retracements levels and start signing for bearish market, and the price has placed below 50% Fibonacci since […]
June 26th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Steady start for European share markets this Wednesday morning with investors welcoming China’s central bank injecting funds into some lenders to prop up their liquidity together with a spate of strong US economic data released in the previous session. Traders put aside tapering fears […]
EUR/USD: At this juncture, one would do well to pay both attention and respect to what the chart is saying, as respected by the indicators. After the bullish threat that started at the beginning of this week, the market has the tendency to continue its bearish journey, and it may soon test the support line […]
For today; EUR/JPY is still in a ranging situation between the 127.50 to the 128.75. RECOMMENDATION: Sell stop (pending order) at 127.74. Take profit at 127.60. Stop loss at 127.84. Alternative: Buy stop (pending order) at 128.51. Take profit at 128.65. Stop loss at 128.41. Best regards, Arief Makmur Official Analyst of […]
Overview: USD/CHF’s subsequent sharp fall suggests that decline from 0.9579 had resumed to test 0.9382. Therefore, the pair has already formed a strong support at the psychological level of 0.9130. It should be noted that the price has still been trapped between 0.9310 and 0.9220. Moreover, it couldn’t close below this psychological level, while […]
A relatively quiet Asian session on Wednesday as most major currency pairs consolidated and dollar held onto gains made yesterday following a string of positive US economic data. Data on improving homes sales, durable goods orders and consumer confidence showed the United States economy is strengthening, fuelling speculation that the Federal Reserve has more room […]
Currency markets made a complete U-turn in the US session, as the dollar changed direction and rebounded following a series of strong economic data which gave investors optimism that the economic recovery in the US is gaining momentum. This raises expectations that the Federal Reserve will taper stimulus later this year and cut back on […]
Yesterday there was a day of respite for the pair, then the minimum of 1.5345 could recover from the downward pressure. If you look at the chart, right in this zone is the 50-day moving average (red). It acts as dynamic support, which is located at 1.5384. We should wait for a close below […]
The USDCAD pair was declining for two successive weeks until strong recovery observed on June 14. Daily closure above 1.0260 that took place on Wednesday allowed another bullish impulse to take place. 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. Resistance level located […]
On the 4H chart, the backside of the broken channel around rejected the pair twice at testing of price levels 1.5680 and 1.5750 respectively. Bearish rejection and strong bearish pressure applied around 1.5700-1.5730 led to this quick obvious breakdown of 1.5600-1.5580 that took place on Wednesday. Yesterday, the GBP/USD pair was rejected at support level […]
Yesterday the cable managed to achieve some bullish recovery (almost 120 pips) after hiting demand zone located at 1.5380-1.5340. As long as the bulls are defending 1.5340, the bullish retracement movement remains intact targeting at 1.5550. The nearst supply zone is located around 1.5440-1.5460 which should be watched carefully. Breakthrough above this zone allows the […]
Yesterday the euro had a stop at the 200-day moving average (blue). This area still guarantees the permanence of a likely move higher, because this morning the data on the US Consumer Confidence came out better than expected, 81.4 vs. 75.2 in the previous month. Before the data was published the pair traded at 1.3117, […]
Yesterday, the EUR/USD pair expressed quite weak bullish movement corresponding to the usual sluggish movement of Monday trading sessions. Despite this bullish recovery witnessed yesterday, the pair is still under pressure from resistance 1.3150 (previous bottom and SMA 100 on the 4H chart). Consolidation of 1.3150 pushed the pair down below 1.3100 which is taking […]
The Australian dollar has been trying to recover losses, but has found an obstacle in the area of 0.9295. If the pair manages to break this level, it will certainly be the technical signal, confirmation to start buying. We believe that the rise will be observed only in part of a technical correction, but if […]
Overview Like it was expected yesterday, the metal will continue its downward move in case of breaking the Support level 19.75. Today and as shown the metal already broke the it and currently is trading below it. Presently the pair is approaching the support level 19.50. If the metal manages to break this support […]
