Overview: The EUR/USD’s resistance (1.3160) has broken and it turned to support yesterday, therefore the pair has already formed a strong support at 1.3160. Moreover, after it couldn’t close below 38.2% Fibonacci retracements levels and start signing for bullish market, and the price has placed above 50% Fibonacci. It should also be note that the […]
Overview Based on the shown H4 chart, silver is still stabilizing between the Support 22.00 and the Resistance level 23.00 after its rebound from the Resistance level 23.00 last week. If silver continues its bearish move and manages to break the Support level 22.00, this will give a strong indicator for the downward move and open […]
This morning the EUR/USD was showing upward force due to the speech of Mario Draghi. It is expected to recover in the eurozone for the second half of the year, so the euro has been very optimistic. If you look at the chart the pair is touching the daily fractal line, 1.3155. A close […]
This morning the British pound reached its maximum since 9 May. In the short term it is presenting an uptrend, which can continue even above 1.5580 in the coming days. Looking at the graph we see that the pair has not sustained any correction. It is likely that this pair finds strong resistance at the […]
Overview As it was expected yesterday, the pair would reverse its downward move taking an upward move due to the Support area consists of the downward trend line with the Support level 152.50. Today and as shown from the H4 chart, the pair bounced from the Support area and currently is approaching the Resistance level […]
Overview: NZD/USD is consolidating with bullish bias bias after hitting nine-month low of 0.7925 on Wednesday. The rate is undermined by increased risk aversion. But NZD/USD downside is limited by negative USD sentiment; Kiwi demand on soft AUD/NZD cross; buoyant commodity prices; caution ahead of U.S. May non-farm payrolls report Friday. Daily chart is negative-biased […]
Overview: USD/JPY is trading in lower range. The rate is undermined by negative dollar sentiment as Automatic Data Processing’s report of lower-than-expected 135,000 new private-sector jobs in May (vs 170,000 forecast) and drop in U.S. ISM employment index to 50.1 last month from April’s 52.0 foreshadowed possibly disappointing U.S. May non-farm payrolls report due on […]
Overview: USD/CHF is consolidating with bearish bias after hitting near-one-month low of 0.9393 Wednesday. The rate is undermined by negative dollar sentiment; franc demand on soft EUR/CHF cross. But USD/CHF downside is limited by caution ahead of U.S. May non-farm payrolls report Friday. Data focus: 07:15 GMT Switzerland May CPI. Daily chart is negative-biased as […]
Overview: GBP/JPY is trading with bullish bias. The rate is undermined by increased risk aversion; euro sales from Japan exporters. But GBP/JPY downside is limited by euro demand from Japan importers; BOJ’s aggressive easing measures to help achieve its 2% inflation target; caution ahead of U.S. May non-farm payrolls report Friday. Daily chart is negative-biased […]
Overview: Since our last analysis Gold has been trading in upward moves, price rejected from 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 a good […]
Trading recommendations: According to the previous events, the price has still been trapped between 0.7980 and 0.7935. Long buying: Buy above 0.7825 with the first target of 0.7905, it might resume to 0.8000. Short selling: Outlook -1-: Swing trade at 0.8115 in order to sell with a traget of 0.7920. Outlook -2-: Below 0.7910 look […]
Overview: Since our last analysis the EUR/NZD pair has been trading in upward moves, we made new high at price 1.6570 on volume just below the average. On the daily chart we got two climatic bars (ultra high volume bars) which is a strong sign that EUR/NZD is in overbought zone, so we may expect […]
Bullish pressure was applied on visiting depicted Fibonacci levels especially 78% which pushed the pair to the upside towards 1.5390-1.5400. Yesterday, the GBP/USD pair expressed daily closure at 1.5409. This will probably open the way towards 1.5580. On the 4H chart, we can see bullish pressure being formed after visiting Psychological Support at 1.5000 on […]
Technical outlook and chart setups: The sideways consolidation continues for Silver, since last 2 trading weeks for now. The trading range is 23.00 as resistance and 22.00 as support. Believe it or not, as we had discussed about earlier breakouts in 2012, this one would be as powerful and 25.00/26.00 levels could be reached in […]
Overview: Support: 132.00 | Resistance: 129.00 | Range: 300 pips. The EUR/JPY pair suggests that a decline from 132.00 had resumed to 130.13 (129.00 is a key level hence it is going to form a strong support). As well as the pair has already formed a strong resistance at the level of 132.00 and it is […]
The ongoing scenario of accidental confusion remains today with alternating red and green daily candlesticks within the same price range. 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. On Monday, the USD/CAD pair dropped sharply but remained stable […]
Technical outlook and chart setups: Overall structure remains constructive for bulls and buying on dips is recommended. Immediate resistance is seen at 1,420/25 levels now, and a push ahead of it could target 1,450/60, followed by 1,488.00 and 1,520.00 resistances respectively. Looking into the lower time frames (shown in a cone structure here), the metal […]
The downtrend line extending from 1.3700 is obviously broken now when we had daily closure above 1.3075. The pair had a neutral zone extending from 1.2880 to 1.3070, breakout off this area helps to resolve the case of accidental confusion experienced by the pair up and down since visiting support zone around 1.2800. Consolidation above 1.3106 […]
AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading downwards, just like we expected, impulsive wave (5) (coloured blue) of the bigger wave C (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe strong descending movement from 0.9657 towards the 0.9550 level. Therefore, during the […]
USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading upwards, impulsive wave 1 (coloured green) of the bigger wave (5) (coloured blue) has finished developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.0275 towards the 1.0332 level. Therefore, during the New York session this […]
Technical outlook and chart setups: The single currency pair is targeting 129.00/128.50 levels at the moment. There is no change in the underlying structure, from what has been discussed earlier. Immediate resistance is at 132.00; followed by 133.50/134.00. It is recommended to remain short for the intermediary downswing targets around 127.00 at least. All intraday […]
Technical outlook and chart setups: The structure has not changed from last few trading sessions, as depicted here. Immediate support is at 1.44, followed by 1.4070 and lower. Till the time prices are above 1.44 level, the single currency pair is expected to print higher highs. Immediate resistance would be at 1.47, followed by 1.48 […]
The pre-mentioned double bottom pattern confirmed by daily closure above 1.5150 achieved its full target at 1.5330. This week, the cable exceeded 1.5320 (the high of May 16) then 1.5370 which corresponds to SMA-100 and had a daily closure at 1.5403. Daily closure above 1.5400 will probably expose 1.5500-1.5570 as it is the next resistance […]
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:Video market update for April 19, 2024 April 19, 2024 Potential for the further drop on NAS100The material has been…Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision… April 19, […]
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 […]
Yesterday data on UK Services PMI in May was published. It was 54.9 vs. expectations for 53.1. Amid weak economic data from the eurozone and the US, the pound strengthened 93 points. Today at 15:00 GMT+4 Asset Purchase Facility and the BoE MPC Interest Rate Announcement are scheduled. The expectations did not change, 0.5% […]
Yesterday we said that “it is not so bad in the eurozone” and in the US “it is much better”, however, it turned out not to be true. According to the data published yesterday, the situation is “very bad” and in the US it is “slightly better”. Services PMI in the eurozone in May […]
Read the Daily Market Report from Dave Evans, Professional Trader Markets cautious ahead of ECB Morning Report: 08.30 London • This morning, financial markets are generally cautious ahead of today’s ECB meeting. Analysts mostly expect the ECB to stand pat, but there is an outside chance […]
EURUSD: This is a bull market and the price is currently close to the resistance line at 1.3150. There is a strong Bullish Confirmation Pattern on the chart and, therefore, that nearest resistance line would be an easy prey for the bulls. After this, the price could target the resistance line at 1.3200. USDCHF: As […]
Today’ s support and resistance levels: R3: 1.6667 R2: 1.6626 R1: 1.6562 Current spot: 1.6525 S1: 1.6464 S2: 1.6392 S3: 1.6327 Technical overview: We got a daily close above resistance at 1.6358 . We are also see even more acceleration towards the upside. With the close above resistance at 1.6358, we now have a new […]
