The USD/JPY pair is negotiating further up the weekly pivot point of 96.76. Looking at the monthly chart we have seen that last week this pair bounced of the fall to the monthly support is around 93.70 and then closed up 350 points more. If you remember Bank of Japan still maintains its monetary policy […]
Overview As shown from the today’s H4 chart, the metal is stabilizing above the Support level 19.75 after its failure to break the Support level again last week. Currently we must wait for re-testing the Support level again and closing below to get the bearish move opportunity. In that case we will get a […]
Overview: USD/JPY is trading with bearish bias. The rate is underpinned by positive dollar sentiment after Chairman Bernanke signaled Wednesday quantitative easing by the U.S. Federal Reserve could be slowed this year and end altogether by middle of 2014, and his upbeat assessment of the U.S. economy; widening USD-JPY interest differential–U.S. Treasury 10-year yield […]
The GBP/USD pair is showing a little strong, because many expected a fall to 1.50 levels quickly. However, we note that it is trading at levels of 1.54. This week will set the trends toward the pair. 1.5512 level, weekly pivot level, will be key. So at this level we recommend selling with objectives to […]
Overview As shown on the today’s H4 chart, this week the pair has opened below the Resistance level 151.15 which means the pair will almost reverse its bullish move this week, it takes a downward move. Today the pair has already started its downward move after it had hit the Resistance level 151.15 and […]
Overview: USD/CHF is trading in higher range. The rate is underpinned by positive dollar sentiment; widening USD-CHF interest differential. Daily chart is positive-biased as bullish outside-day-range pattern was completed on Friday; stochastics is rising from oversold; MACD is staging bullish crossover against its exponential moving average. Trading recommendations: The pair is trading above its […]
This morning the EUR/USD pair has reached low levels of 1.3055. At the moment it is trading around the 200-day moving average at 1.3071. This is a possible bounce area, which can lead to resistance area of 1.3211 weekly pivot point level in this area. It is recommended to sell with objectives to weekly W_S1 […]
Overview: GBP/USD: The resistance has already set at the level of 1.5494 as well as the support has also been set at 1.5309. Therefore, according to the previous events, the price has still been trapped between 1.5450 and 1.5420, then it should be noted that the range today will be around 95 pips. […]
The EUR/USD pair reaches a demand zone extending between 1.3100-1.3050 after an obvious negative weekly candlestick that closed last Friday. This bearish pressure was applied after testing of the previously mentioned weekly downtrend line (depicted in Red) that extended from previous top at 1.4940. The previously mentioned bullish 123 pattern (confirmed on June 6) is […]
Weekly technical levels: Intraday trading recommendations: According to previous events, the price has still been trapped between 1.3125 and 1.3080. The level of 1.3000 will indicate a strong support, moreover the price will be formed at a double bottom in this level. Therefore, it will be wise to buy at 1.3000 with the […]
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 as depicted on the chart. Resistance level located at […]
On the daily chart we find that daily closure at 1.5409 (June 5) opened the way towards 1.5580, 1.5680, and 1.5750 (last week’s high). 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 […]
Overview: Since our last analysis Gold has been trading in sideways move, we are waiting for our second short-term target level to be tested. We are now heading to test FE 100% at price 1,221.00 (second short-term target), according to the daily chart. I saw decreasing volume in the previous move up which is a […]
Last Friday, the GBP/USD pair expressed bearish engulfing weekly closure after testing the backside of the broken bullish channel depicted on the Daily chart above. The backside of the broken channel corresponded to supply zone located at 1.5680-1.5800 which managed to pause the ongoing bullish wave and bring a quick decline towards support zone around […]
Overview: Since our last analysis the EUR/NZD pair has been trading sideways move around price 1.6976, we are still waiting larger move. I placed Fibonacci expansion level for future up and I got FE 61.8% at price 1.7500. Since we broke level 1.7106 (previous swing high), we may expect future up. Current situation on (4H) […]
On Friday data on Public Sector Net Borrowing in May was 10.5 billion pounds vs. forecast for 12.7 billion pounds and revised downwardly 6.6 billion pounds in April. Public Sector Net Borrowing ex Intervention grew up to 8.8 billion pounds from 6.3 billion pounds. Mass media criticized UK Chancellor of the Exchequer George Osborne for […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading side ways, corrective wave 4 (coloured green) of the bigger wave 3 (coloured blue) has been developing. During the Friday’s Asian and European sessions we could observe descending movement from 0.95258 towards the 0.9181 level.Therefore, during the New York session this currency […]
USD/CAD Elliott Wave Last week the USD/CAD pair has been trading upwards, impulsive wave 3 (coloured blue) of the bigger wave [1] (colured red) has been developing. During the Friday’s Asian and European sessions we could observe ascending movement from 1.0362 towards the 1.0487 level. Therefore, during the New York session this major currency did not […]
June 24th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist A soft start for European financial markets this morning, as traders still ruminate over the implications of Fed tapering QE by year-end together with concerns over a possible liquidity squeeze in China. Share markets in Asian markets overnight fell sharply on worries about stress […]
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:Market Comment – Stocks climb after sizzling US jobs report April 8, 2024 Nonfarm payrolls smash forecasts, reaffirming labor market strength But dollar…Forex forecast 04/08/2024: EUR/USD, GBP/USD, USD/JPY, Gold… April 8, […]
Structural problems in Europe has started working. The French statistics agency INSEE revealed the forecast for a 0.1% drop in GDP and the rise of unemployment rate from 10.8% to 11.1%. In Greece, the government was shaken as the Democratic Left, the smaller of Samaras’s two coalition partners, withdrew its ministers. Now there are two […]
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 […]
Today’s Support and Resistance levels: R3: 1.7053 R2: 1.6984 R1: 1.6934 Current Spot: 1.6910 S1: 1.6855 S2: 1.6825 S3: 1.6756 Technical overview: We are looking for strong support at 168.25 (top of red wave i) to protect the downside for a break above resistance at 1.6975 and, more importantly, a break above resistance at 1.7053 […]
Today’s Support and Resistance levels: R3: 129.91 R2: 129.70 R1: 129.38 Current spot: 128.08 S1: 128.71 S2: 128.42 S3: 128.14 Technical overview: The falling channel resistance line has now been tested three times and held. Normally, this is a signs of strength and could indicate a very strong downside pressure soon. As we are looking […]
Daily chart: Last week, Crude Oil found strong resistance near 98.61 level and fell back to the 200-day moving average near 93.60 level and support at the 92.79 level. The levels are very clear in CL, if Crude Oil manages to break the support at the 92.79 level, it is expected to fall to the […]
Daily chart: The USDJPY pair is trying to break the resistance at the 98.25 level. Recall that last week, USDJPY had a strong bullish trend, which led it to break of the resistance at the 96.38 level. However, it is quite possible that USDJPY conducts a bearish rebound at the resistance level of 98.25 and […]
TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.3171. Strong Resistance: 1.3163. Original Resistance: 1.3150. Inner Sell Area: 1.3137. Target Inner Area: 1.3106. Inner Buy Area: 1.3075. Original Support: 1.3062. Strong Support: 1.3049. Breakout SELL Level: 1.3041. DESCRIPTION: Today EUR/USD has support and resistance at 1.3062 and 1.3150. The rate is accompanied by strong support at 1.3049 […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 97.70. Resistance 2: 97.51. Resistance 1: 97.32. Support 1: 97.09. Support 2: 96.90. Support 3: 96.70. DESCRIPTION: Please pay attention to the levels of support 3 (96.70) and resistance 3 (97.70). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but […]
For today, EUR/JPY seems to have got a bullish momentum again, but the momentum is not strong enough because we spotted that EUR/JPY has already touch the EMA (100), this means the weak signal of the current trend (bullish), so please be prepared for unexpected reversal moves on this currency. RECOMMENDATION: Buy stop (pending order) […]
EUR/USD: There has been a clean bearish signal on this pair, and as such, it makes sense to seek only short trades this week. Since the pair dropped by over 200 pips last week, leading to more serious bearish pressure, it would not be difficult for the price to reach the support line at 1.3000 […]
