Today this currency pair is in the uptrend. This is indicated by the moving average already making a Golden Cross pattern, but please remain careful because this night the US FOMC Statement is expected, please be prepared for the reversal movement during the news release. RECOMMENDATION: Buy stop (pending order) at 128.11. Take profit at […]
Yesterday at the American session the pound sterling had grown to the maximum of 1.5754. Now it backs hard on all fronts due to the reporting of PPI Input fell to -0.3% in May. If you look at the graph the British currency is bearish in the short term, but it is likely to see […]
In the European session the euro touched 1.34 area, however, it was unable to overcome it, due to the index issued by the Institute of German ZEW. Given that many are very optimistic for now, it is likely that during the next few hours it exceeds the maximum of 1.34 and look for the […]
The Australian dollar dropped again today and heads to 2010 lows against the dollar after the minutes of the Reserve Bank of Australia were released. It is said that there may be further cuts in interest rates in the coming months, which would deepen the low of the Aussie. Observing the graph we see […]
The USDCAD pair was declining for the second week except for some recovery observed on Friday and yesterday which was not that strong by the way. Further bearishness is expected this week. This will leave the pair targeting further downside towards the 1.0100 level, where the lower limit of the bullish channel is located. […]
Daily closure at 1.5409 opened the way towards 1.5580, 1.5680, and 1.5750 (yesterday’s recent high). On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured during last two weeks targeting 1.5590 then 1.5750 yesterday. The pair consolidated above 1.5603 (the high of May). This leads […]
Eurodollar succeeded in stabilizing above resistance 1.3240, followed by 1.3300 breakthrough that took place last week, which keeps the upside movement favoured to target 1.3600 levels (target of 123 pattern). Prominent supply zone is located around 1.3425 and is expected to be the target price for the current bullish wave then the pair may have […]
Overview: Since our last analysis Gold has been trading in downward moves like we expected, price tested level 1,377.00. We are still waiting for our second intraday target level at 1,356.50. We are also waiting for our first short-term target level FE 61.8% at price 1,323.00, according to the daily chart. I saw decreasing volume […]
Overview: Since our last analysis the EUR/NZD pair has been trading upwards, price tested the level of 1.6821. I placed Fibonacci Retracement levels and I got FR 61,8% at price 1.6831. According to my trading rules if FR 61.8% at price 1.6831 holds, we can expect future down and finishing of major down correction (A,B,C,D […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading upwards, just like we expected, impulsive sub-wave 3 (coloured blue) of the bigger wave [1] (coloured red) has been developing. During the Monday’s Asian session we could observe descending movement from 1.0172 towards the 1.0148 level and we can consider this move […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has continued trading lower, just like we expected, impulsive wave 3 (coloured blue) of the bigger wave [3] (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe side-ways movement between 0.9563 and 0.9641 level. We can consider this move […]
On Monday, amid the flat market the price could not overcome accumulation of orders in the range 1.5676/97 and was sent beyond the channel boarder on the daily chart. The target 1.5762 was not reached and today until the Fed’s meeting starts there is possibility to do it amid data on inflation. Today at […]
Read the Daily Market Report from Dave Evans, Professional Trader Hopes High For G8 Morning Report: 08.30 London • Markets have a positive bias this morning as the G8 summit rumbles on. The euro in particular is performing well after Greek politics were reduced to simmer […]
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:Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500… April 16, 2024 We introduce you to the daily updated section of Forex…What’s next for markets amid Israel-Iran tensions? – Special… April 16, […]
Yesterday data on Trade Balance in the eurozone in April was weak and it did not allow the euro to develop downward movement. Trade Balance was 16.1 billion euros vs. expectations for 21.3 billion euros. Today at 10:00 GMT+4 the ECB President Mario Draghi speaks. However, his speech will not touch upon monetary policy. […]
June 18th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist A mild pullback for European stock markets this morning following modest gains in the previous session with investors adopting caution ahead of the start of the Federal Reserve’s two-day policy meeting with an outcome due Wednesday. Traders are feeling a little less nervous about […]
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: 127.96 R2: 127.27 R1: 127.01 Current spot: 126.63 S1: 126.13 S2: 125.41 S3: 124.96 Technical overview: We are currently in a wave 2 correction, correction of the entire rally from the 94.10 low to the 133.81 high. We expect this correction to correct 38.2% of wave 1, which will […]
Daily chart: The GBPUSD pair remains above the 200-day moving average and slowly is approaching to the resistance at the 1.5795 level. It is very possible that in today’s session, GBPUSD touches resistance at 1.5795. If the cable breaks that resistance, it would be expected to rise to the level of 1.5883. On the other […]
Daily chart: The USDX hit the support level at 80.62 and is preparing to break it. If the USDX manages to break this support, it is expected to fall to the level of 79.19, but we must consider the USDX has had a very lateralized fall, so we would expect the formation of a higher […]
EURUSD: In the current equilibrium phase, the bullish bias is still on. So when the price resumes its significant move, it ought to be towards the north. The price is going towards the resistance line of 1.3400 – which is not a lofty target. The resistance line would probably be breached to the upside sooner […]
Trading recommendations: GBP/USD: According to the previous events, the price has still been trapped between 1.5740 and 1.5650. Buy above 1.5620 with the first target at 1.5680, it might resume to 1.5800. Stop loss should be set below 1.55750. Below 1.5800 look for further downside move with targets at 1.5680 and 1.5555. Stop loss should be set […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 95.30. Resistance 2: 95.12. Resistance 1: 94.93. Support 1: 94.70. Support 2: 94.52. Support 3: 94.33. DESCRIPTION: Please pay attention to the levels of support 3 (94.33) and resistance 3 (95.30). 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: 1.3428. Strong Resistance: 1.3420. Original Resistance: 1.3407. Inner Sell Area: 1.3394. Target Inner Area: 1.3362. Inner Buy Area: 1.3330. Original Support: 1.3317. Strong Support: 1.3304. Breakout SELL Level: 1.3296. DESCRIPTION: Today EUR/USD has support and resistance at 1.3317 and 1.3407. The rate is accompanied by strong support at […]
Today’s support and resistance levels: R3: 1.6864 R2: 1.6800 R1: 1.6759 Current spot: 1.6725 S1: 1.6670 S2: 1.6629 S3: 1.6595 Technical overview: With the break above important short-term resistance at 1.6590, we had the confirmation we needed to say that we did see the bottom of wave iv at 1.6388 and wave v higher towards […]
EUR/JPY now do not have a clear trend, this is indicated by all the three moving averages already touching each other, which means the market is in a ranging situation. The best thing we can do now is waiting until the trend establishes after EUR/JPY breaks out from the ranging situation. RECOMMENDATION: No trade until […]
Overview: NZD/USD movement will be continued straight from 0.7850 (in the H1 chart 23.6% of Fibonacci retracement levels). Therefore the kiwi is showing signs of strength, following the break of the highest level of 0.7860. So it will be a good sign to buy above the level of 23.6% of Fibonacci retracement levels in […]
Last week the Australian dollar recovered from the downward pressure that led up to the minimum of 0.9324. However, at the moment it is trading at 0.9585. We believe that this pair must fall at least to the area of 0.9270 (there lies the first holder monthly) to cover the gap in 2010, and hence […]
Overview According to our last week expections, the price’s close below the Resistance level 22.00 will give new opportunities for sell signals. Currently the metal has already managed to close below the Resistance level to trade below and open the way towards 21.50 as first target, then the metal must test the Support level 21.00 […]
In the last four sessions the EUR/USD pair remained above the level of 1.3304 which coincides with the line of the weekly pivot. Given that it is showing signs of weakness, it is likely that this area will have bullish momentum to the nearest resistance of 1.3431. On the other hand, a daily close below […]
