TODAY’S TECHNICAL LEVELS: Resistance 3: 95.16. Resistance 2: 94.98. Resistance 1: 94.79. Support 1: 94.56. Support 2: 94.37. Support 3: 94.18. DESCRIPTION: Please pay attention to the levels of support 3 (94.18) and resistance 3 (95.16). 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: 1.3419. Strong Resistance: 1.3411. Original Resistance: 1.3398. Inner Sell Area: 1.3385. Target Inner Area: 1.3353. Inner Buy Area: 1.3321. Original Support: 1.3308. Strong Support: 1.3295. Breakout SELL Level: 1.3287. DESCRIPTION: Today EUR/USD has support and resistance at 1.3308 and 1.3398. The rate is accompanied by strong support at 1.3295 […]
With all the three Moving Average making a death cross pattern formation, the market is still in downtrend pressure. It seems the seller will get more advantage than the buyers as long as 126.25 is not breached, the downside pressure still continues. RECOMMENDATION: SELL Stop (Pending Order) at 125.99. Take Profit at 125.85. Stop Loss […]
EUR/USD: This is a bullish market – there is a bullish trend in the chart. The market moved upwards recently and it is expected that it would continue to be so. The resistance line at 1.3400 is a target that should be reached very soon, albeit there may be some transient pullback toward the support […]
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 From the today’s H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the resistance level 148.75 after it has been tested yesterday. Today the pair took an upward movement and managed to break the strong resistance area 154.00 then 150.00, but […]
Overview As it was expected yesterday, the metal would reverse its bearish move to start its upward direction after hitting the Support level 21.50 yesterday and bounced from it. Today and as shown from the today’s H4 chart the metal already took a bullish move after it has managed to break the Resistance level […]
Support level around 1.0016-0.9995 provided evident bullish steam for the pair to step above 1.0300. Hence, there might be further bullish pressure to test 1.0430 level. The scenario of accidental confusion continued last week until last week on Thursday when we had this massive bearish daily candlestick that closed at 1.0260. Today, the USD/CAD pair […]
Last week, the GBP/USD pair closed at 1.5409. As expected, this opened the way towards 1.5580, 1.5680, and 1.5730. On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured last Thursday targeting 1.5590 then 1.5730 yesterday. The pair consolidated above 1.5603 (the high of May). This […]
The British pound lost bullish strength, with a drop of over 100 points from its monthly maximum. However, if you look at the chart you will notice that this pair failed to close above the 200-day moving average. Given that it is away from yesterday’s highs, it is likely to intensify the fall of […]
The euro has started the fall since early Friday. On Thursday the price closed at 1.3376. However, this pair was carried away from the height of 1.34 and technically it is about to lose a short-term uptrend, which is 1.3230 support area. The break of this level could accelerate downward move for the next […]
The downtrend extending from 1.3700 was broken when we had a daily closure above 1.3075 which opened the way towards 1.3106 and then 1.3250. The price level around 1.3250 provided temporary resistance for the EUR/USD pair as it corresponds to the previous tops (including the May’s high). However, this week we had two successive bullish […]
The pair is probably expressing 123 bullish reversal pattern that became confirmed with daily closure above 1.5625 that took place on Wednesday. The cable has been challenging the significant uptrend peak at 1.5682 recorded last week topping at 1.5737, while the next important resistance is projected at 1.5750 corresponding to 61.8% of Fibonacci. Current bearish […]
Overview: Since our last analysis the EUR/NZD pair has been trading downwards, just like we expected, price tested and broke FE 61.8% at level 1.6560. Since price broke FE 61.8% at price 1.6560 that means that we have started a major corrective phase and that 1.6342 level is possible. Current situation on (1H) time frame […]
Overview: Since our last analysis Gold has been trading sideways around price 1,385.00, 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 in the previous move up which […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading upwards, final sub-wave C (coloured blue) of the bigger wave [2] (coloured red) has finished developing. During the Thursday’s Asian and European sessions we could observe strong ascending movement from 0.9428 towards the 0.9585 level. Therefore, during the New York session this […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading downwards, corrective wave 4 (coloured blue) of the bigger wave [5] (coloured red) has been developing. Yesterday, during Asian and European sessions we could observe descending movement from 1.0224 towards the 1.0175 level. Therefore, during the New York session this commodity currency […]
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 continues to price in a plethora of rate cuts for… April 17, 2024 Market is still in monetary easing mode despite fewer rate…Video market update for April 17, 2024 April […]
June 14th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Losing a bit of momentum as we head into lunch here in Europe with jobs data from the euro zone reaffirming the dire situation in the 17-nation bloc. EZ unemployment jobless rate is at 7-year lows with the data showing a sharp decline in […]
Yesterday the pound made an attempt to break the upper boarder of channel. On the contrary, it did nor manage to consolidate on the daily time frame. There is possibility the price reverses to the channel. From the technical point of view the situation is uncertain. Though the bullish trend preserves. The only sign […]
Technical outlook and chart setups: There is no change in structure from what was discussed yesterday. Silver is setting up for a 3 wave retracement (counter trend rally). Support levels are 21.20/40, 20.75, and 20.00; while resistances are spread through 23.00, 24.50 and higher up. It is recommended to remain long for now, and also […]
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: The structure is simply sideways, since the recent swing lows were printed around 1,324.00 level. The metal has been swinging between the line of resistance and support as depicted here. Resistance right now is just around 1,410.00 (the trend line resistance), followed by 1,425.00, 1,450/60, 1,488.00 and higher up. Trend […]
Technical outlook and chart setups: The single currency pair is offering yet another opportunity to initiate short positions. The pair hit the first measured extension at 125.00 level yesterday and retraced back to 128.00 level. The next extension could be towards 123.00 level or even lower. Immediate chart resistance is 129.50, followed by 131.00, 132.00, […]
Technical outlook and chart setups: The single currency pair has rallied, after breaking support at 1.44 level recently. These intraday rallies could be sold further. Immediate resistance is at 1.47/1.48 levels, followed by 1.5 and 1.51; while support is at 1.4075 and lower. Since the pair has bounced off the down trend line, there is […]
Strong data on Retail sales did not manage to strengthen the dollar. It is said the major reason is drop of the Japanese market and the yen due to fears of Japanese debt collapses. Quantitative easing have not had impact on the Japanese economy. US Retail sales in May grew 0.6% vs. forecast for […]
Daily chart: The GBPUSD pair continues rising and consolidating above the 200-day moving average. Now, the GBPUSD pair is trying to climb to the resistance at the 1.5795 level. For now, the overall outlook for this pair, is totally bullish. We see that GBPUSD may close the price today below support at the 1.5642 level, […]
EURUSD: Since a bullish signal was developed at the end of May 2013, the EURUSD pair has moved upwards by over 430 pips. Right now, the price is moving closer to the resistance line at 1.3400. This is not a far-fetched objective, but there may be a short-term reversal before the price ultimately reaches that […]
Today’s Support and Resistance levels: R3: 1.6719 R2: 1.6658 R1: 1.6608 Current spot: 1.6551 S1: 1.6479 S2: 1.6456 S3: 1.6399 Technical overview: We are still looking for black wave iv down to the ideal target at 163.99. Since the top of black wave iii at 1.7109 we have seen a three wave decline to 1.6537, […]
Daily chart: Crude Oil rose back up to resistance at the 96.73 level. Now CL is slightly below that level if CL manages to break that level, it would be expected that the resistance rises to the level of 100.33. This resistance in the 96.73 level is very strong and very important, as we have […]
