Weekly technical levels: Intraday trading recommendations: According to previous events, the price has still been trapped between 1.3303 and 1.3180. The level of 1.3015 will indicate a strong support, moreover the price will be formed at a double bottom in 1.3014. Therefore, it will be wise to buy at 1.3014 with the first target at […]
RECOMMENDATION: Sell stop (pending order) at 130.74. Take profit at 130.60. Stop loss at 130.84. Best regards, Arief Makmur Official Analyst of InstaForex Group InstaForex Group http://instaforex.com Email: [email protected] Yahoo Messenger & Skype : Arief.ifx_jakarta blog.mt5.com/arief http://www.mt5.com/forex_analysis_award/profile/index/arief Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be […]
EUR/USD: There is still a Bullish Confirmation pattern in this chart, as the Williams’ Percent Range moves very near to the overbought territory. The resistance line at 1.3300 was tested last week, and it could be tested again very soon – even possibly breached to the upside as the price goes further northwards. USD/CHF: The […]
The USDJPY pair was the star of last week. Now approaching to the area of 100 yen, it is losing ground quickly. Before this level there is a strong resistance around the 50 period moving average (red) around 99.30. The first weekly resistance is located at 100.51, if in the course of the week the […]
The Australian dollar is still under downward pressure. Last week was positive for all currencies against the dollar, but less for this pair. If you look at the graph this pair closes week with a gap, it should go up 0.9505 to cover it. Given that we see that the pair is quoted below the […]
This morning the pound was trading at 1.5548, after having covered the gap it had left earlier. If you look at the chart you will notice that last week this pair stopped just below the 200-day moving average. However, given that this pair is correcting after having a bullish rally, at the weekly pivot area […]
Last week, the EUR/USD pair was very positive. Now this pair is trading at 1.3219 after having covered the gap left in the opening week. This pair is located at 1.3159, above the weekly pivot, we believe the euro should go back to this level, to take bullish momentum. On the other hand, the break […]
Overview From the today’s H4 chart, we find that the pair opened this week above the Support level 152.50 and below the Resistance level 153.85. Currently it is testing it to continue its bullish trend. Given that the pair continues its bullish movement and closes 4H above the Resistance level, it would be another opportunity for […]
Overview Based on the today’s H4 chart, last week the metal took a bearish move and managed to break the Support level 22.00 and closed below it. But rapidly it hit the Support level 21.50 and bounced from it to reverse its bearish move. Currently the metal is approaching the Resistance level 22.00 to test […]
Overview: GBP/JPY is trading with bullish bias. The rate is buoyed by stronger investor risk appetite; euro demand from Japan importers; BOJ’s aggressive easing measures to help achieve its 2% inflation target. But GBP/JPY gains are tempered by euro sales from Japan exporters. Daily chart is mixed as MACD is bearish, but stochastics have turned […]
Overview: USD/CHF is trading in higher range. The rate is underpinned by positive USD sentiment; franc sales on rebounding EUR/CHF cross. Daily chart is mixed as MACD is bearish, 5- and 15-day moving averages are falling; but stochastics have turned bullish at oversold. Trading recommendations: The pair is trading above its pivot point. It […]
Overview: USD/JPY is trading in higher range after hitting two-month low of 94.98 on EBS Friday. The rate is underpinned by positive dollar sentiment after U.S. non-farm payrolls rose more-than-expected 175,000 in May (vs +169,000 forecast); yen-funded carry trades amid positive risk sentiment (VIX fear gauge eased 8.96% to 15.14; S&P gained 1.28% Friday) as […]
Overview: NZD/USD is consolidating with bearish bias after hitting 10-month low of 0.7812 this morning. The rate is undermined by positive USD sentiment; heightened fears over China’s economic slowdown; Kiwi sales on buoyant AUD/NZD cross. But NZD/USD losses are tempered by better investor risk appetite. Data focus: 00:00 GMT New Zealand May QV nationwide residential […]
Overview: Since our last analysis the EUR/NZD pair has been trading in upward moves, price tested level 1.6867 and broke FE 261.8% at price 1.6620. I have changed analysis for future upwardly. Next up station according daily time frame is FE 361.8% at price 1.7150. The price made new high on ultra high volume which […]
Technical outlook and chart setups: The structure remains unchanged for the metal yet. It is recommended to remain long for now and also look to add on intraday dips. The metal is bounding off the 0.618 Fibonacci support level at 21.30/40 and is expected to reach 24.50 at least in the sessions to come. Supports […]
Technical outlook and chart setups: The metal seems to be forming base at around 1,378/80, which is Fibonacci 0.618 level for the recent rally from 1,340.00 to 1,425.00. 1,373.00 and 1,355.00 are immediate support levels, while 1,425.00, 1,450/60 are levels of resistance now. A bullish bounce here is expected to take prices to 1,465.00 and […]
Technical outlook and chart setups: The single currency pair has bounced off the lows at 126.00 level sharply. The implications are as follows: 1. A high possibility remains that the currency pair has bottomed out and is ready to print fresh highs above 134.00. This would be confirmed on a break of 132.00 level, which […]
Technical outlook and chart setups: The single currency pair has held support of 1.44 level well till now. Having tested the immediate support, the pair has bounced off the 1.45 mark for now. It is recommended to stay long as long as the prices are above the 1.44 mark comfortably. Support levels are spread through […]
Overview: Since our last analysis Gold has been trading in downward moves like we expected, we got our first intraday target level at 1,393.50. We are still 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 up move which is […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading downwards, impulsive wave [1] (coloured red) of the bigger wave 3 (coloured green) has finished developing. During the Friday’s Asian and European sessions we could observe descending movement from 0.9571 towards the 0.9462 level. Therefore, during the New York session this major […]
USD/CAD Elliott Wave Last week the USD/CAD pair was trading downwards, impulsive wave [3] (coloured red) of the bigger wave C (coloured green) was developing. During the Friday’s Asian and European sessions we could observe strong descending movement from 1.0287 towards the 1.0166 level and we can consider this movement as the end of the […]
June 10th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European share markets kick off the week on softer tone despite a strong display by Asian bourses in overnight trade. Asian markets were comforted by Friday’s US nonfarm payrolls but gains were curbed by poor data from China over the weekend which is currently […]
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 untill Thursday when we had this massive bearish daily candlestick that closed at 1.0260. Today, the USD/CAD pair […]
UK Visible Trade Balance in April was better than expected -8.22 billion pounds vs. expectations for -8.8 billion pounds. UK Trade Balance Non-EU was -3.41 billion pounds vs. forecast for -3.55 billion pounds. UK Trade Balance was -2.57 billion pounds vs. forecast -3.0 billion pounds. However, the positive was blighted by the inner structure; […]
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 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin… April 18, 2024 We introduce you to the daily updated section of Forex…Video market update for April 18, 2024 April 18, 2024 Potential […]
On Wednesday, the GBP/USD pair expressed daily closure at 1.5409. As expected, this opened the way towards 1.5580 then 1.5620. On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured on Thursday. The pair is failing to fixate above 1.5603 (the high of May and […]
The major Friday’s news is US Non-Farm Employment Change in May which was better than expected, 175K vs. forecast for 167K. Data on April was revised downwardly to 149K (which is 16K less). The unemployment rate rose 0.1% up to 7.6%, however it was due to the increase in the number of labour force […]
The significant uptrend peaked at 1.5682 last week and the next important resistance is projected at 1.5750 corresponding to 61.8% Fibonacci. Intraday support is projected at 1.5380 (SMA 100). Price Level 1.5580 (50% Fibonacci) is expressing some bearish pressure on the cable today. The pair is probably expressing 123 bullish reversal pattern that becomes confirmed […]
Read the Daily Market Report from Dave Evans, Professional Trader Yen Slips On Strong Japan Data Morning Report: 08.30 London • There are two main movements to note this morning; the sudden yen weakness and the opening gap lower in the dollar pairs. The yen pairs […]
The downtrend line extending from 1.3700 was broken when we had daily closure above 1.3075, this opened the way towards 1.3106 then 1.3250. Price Levels around 1.3250 represent a strong resistance for the EUR/USD pair as it corresponds to previous tops (including the high of previous May). Although the pair expressed bullish daily closure at […]
