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 […]
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FOREX Weekly Outlook by Easy-Forex.com Weekly Outlook – 11th March 2013 USD/JPY soaring as US Data Improves Last week’s currency trading review USD/JPY persistently strong US data is helping the Yen pair tofresh multi year highs with February US Nonfarm payrolls beating expectationsat 236k vs. 160k forecast and the Unemployment Rate dropping sharply to 7.7%vs. […]
Overview Proceeding from the today’s H4 chart, the pair is still trading between the Support level 150.50 and the Resistance level 151.50 and currently the pair fails again to break the Support level. If the pair bounces from it to take an upward movement, it may continue its bullish trend and we will get […]
Overview: NZD/USD is consolidating with bearish bias after hitting one-year low of 0.7710 on Thursday. The rate is undermined by weak commodity prices; broadly strong demand for U.S. dollar; fears over China economic slowdown; weaker-than-expected New Zealand 1Q GDP growth. But NZD/USD losses are tempered by positions adjustment before weekend. Daily chart is negative-biased as […]
Overview: GBP/JPY is trading with risks skewed lower. The rate is undermined by flows to haven yen amid increased risk aversion; Japan exporter sales; positions adjustment before weekend. But GBP/JPY losses are tempered by demand from Japan importers. Daily chart is mixed as MACD is bearish; but stochastics is in bullish mode, bullish parabolic stop-and-reverse […]
Overview: USD/JPY is consolidating after hitting seven-day high 98.29 Thursday. The rate is underpinned by broadly stronger demand for dollar as U.S. Treasury yields rose sharply after Federal Reserve Chairman Bernanke said Wednesday bond-buying by the U.S. central bank could be slowed this year and end altogether around middle of next year. Dollar sentiment was […]
Overview The H4 chart demonstrates today that silver has failed to break the Support level 19.75 and closed 4H above. Currently the metal is trading between it and the Resistance level 20.50. Given that silver tried again and managed to close 4H below the Support level 19.75 and takes a downward move till reaching […]
Overview: USD/CHF is trading in lower range. Swiss National Bank on Thursday left its monetary policy unchanged as widely expected, keeping its minimum exchange rate at CHF1.2000 per euro. USD/CHF is undermined by flows to haven franc amid negative global risk sentiment. But USD/CHF losses are tempered by broadly strong demand for dollar; positions adjustment […]
The USDCAD pair was declining for the second week except for recovery observed on the last three trading days. Daily closure above 1.0260 that took place on Wednesday allowed a strong bullish impulse to take place. The pair recorded a new high today at 1.0487. Bearish pressure is expected to be present at 1.0510 (the […]
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 (this week’s high). The pair consolidated above 1.5603 (the high of May). This leads to another significant bullish impulse towards 1.5680-1.5700 (backside of the broken channel and upper limit of the depicted triangle on 4H […]
The GBP/USD pair expressed quick decline towards 1.5450 after US dollar gained much strength affected by Federal Statement on Wednesday. Technically, the pair reacted bearishly towards mentioned supply zone extending between 1.5680 and 1.5750 (61.8% Fibonacci) that leads to this decline towards 1.5420 (SMA 100). Due to this steep decline, we expect some recovery takes […]
After the EUR/USD pair recorded a new high at 1.3415 this week, significant bearish pressure was appliead enhanced by the Federal statement that gave US dollar much strength against most other currencies. This events activated the other scenario of reversing off 1.3425-1.3450 and heading towards 1.3180 for retesting. Price Zone 1.3425-1.3450 corresponded to backside of […]
The Australian dollar does no show any signs of recovery. Although the fact that it is above 0.9181 adds strength to the bullish outlook, but economic data from China does not help the local economy either, and an ounce of gold is still less. Therefore, this area could be violated and continue until the fall […]
Yesterday the pound sterling could rebound to the 1.5550 area. However, it trades below 1.55 and moves to the level of 1.5402, very strong support level. Given that the 1.54 level has been a key to the decision of the pair, it is bullish or bearish. Therefore, it is recommended to buy above 1.5402 […]
The euro was unable to recover the losses occurred on Wednesday. Yesterday it closed right at the level of 1.3219, the first weekly support level. Now in the morning during the American session, it is located at the level of 1.32. It is very likely that there is imminent fall of the pair, because if […]
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We are very pleased to report that on 15th June 2013 XEMarkets, official patron of the London School of Economics, had the privilege to host their first forex seminar on the university premises in London, UK. Avramis Despotis, worldwide acknowledged Certified Instructor and Portfolio Manager, presented the topic Learn to Earn Intraday Trading on a […]
