Overview: EUR/JPY is in range trading. The rate is supported by improved risk appetite; euro demand from Japan importers; BOJ’s aggressive easing measures to help achieve its 2% inflation target. But EUR/JPY upside limited by euro sales from Japan exporters; fears Japan’s FSA might impose new rules on foreign exchange margin trading; positions adjustment before […]
EUR/USD Elliott Wave Since our last analyses the EUR/USD pair has continued trading upwards, so we have changed our primary wave count a little bit. During the Thursday’s Asian and European sessions we could observe ascending movement from 1.2941 towards the 1.3005 level. Therefore, during the New York session this major currency has continued trading […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading downwards, corrective wave (A) (coloured red) of the bigger wave B (coloured purple) has been developing. Yesterday, during the European session we could observe ascending movement from 1.0329 towards the 1.0387 level and we can consider this move as the end of […]
Overview: USD/CHF is consolidating with bearish bias after hitting two-week low of 0.9522 this morning. the rate is undermined by negative dollar sentiment; franc demand on soft EUR/CHF cross. But USD/CHF losses tempered by positions adjustment before weekend. Daily chart is negative-biased as MACD and stochastics are bearish; five-day moving average has staged bearish crossover […]
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:Weekly Forex Outlook: 12/04/2024 – More inflation data on… April 12, 2024 CPI numbers due in the UK and Japan. China to also…Video market update for April 11, 2024 April 11, 2024 […]
Nationwide House Price Index in the UK in May grew 0.4% vs. expectations for 0.5%. However, the investors considered this increase to be rather optimistic and started to buy the pound along with the euro until the opening of the US session. Data on the US was worse than forecasts (GDP in the second […]
Overview: NZD/USD is consolidating with risks skewed higher after hitting six-month low of 0.8003 on Thursday. The rate is supported by negative U.S. dollar sentiment, improved investor risk appetite; residual month-end positions adjustment; NZD-USD yield gap. But NZD/USD gains limited as Reserve Bank of New Zealand Governor Graeme Wheeler said RBNZ will not immediately raise […]
Yesterday data on the eurozone was positive and the euro rose 50 points. Business Climate Indicator was -0.8 vs. estimates for -0.85. Data on Eurozone Industrial confidence, Consumer Confidence, and Eurozone Economic Confidence was in line with forecasts. However, it was better than previous readings. Unexpectedly, data on the US was lower than estimates. US […]
Overview: USD/JPY is trading in lower range. The rate is undermined by negative dollar sentiment after downward revision in U.S. 1Q GDP growth to annualized 2.4% from 2.5%, surprise 10,000 rise in latest U.S. weekly jobless claims to 354,000 (vs 340,000 forecast), smaller-than-expected 0.3% rise in U.S. April pending home sales index (vs +1.7% forecast); […]
Read the Daily Market Report from Dave Evans, Professional Trader Yen poised for breakout Morning Report: 08.30 London • This morning, the Japanese are showing early momentum after Japanese core CPI came in above estimates. The main mover is the AUD/JPY as commodity currencies come under […]
Daily chart: Since two sessions, the USDX has been perfoming very bearish movements and is now trying to make one real breakout in the 83.22 support level. If the USDX breaks this support, it is very possible that the USDX falls to the level at 81.74, in the medium term. For now, I do not […]
Daily chart: Finally, GBPUSD broke the resistance at the 1.5159 level and is now approaching the nearest resistance level 1.5266. Now, this pair is trying to break the resistance level at 1.5266. If it breaks that level, it is expected to rise to the level 1.5394. Above the support level of 1.5023, a double bottom […]
TODAY’S TECHNICAL LEVELS: Resistance 3: 101.62. Resistance 2: 101.42. Resistance 1: 101.23. Support 1: 100.98. Support 2: 100.78. Support 3: 100.58. DESCRIPTION: Please pay attention to the levels of support 3 (100.58) and resistance 3 (101.62). 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: 1.3105. Strong Resistance: 1.3098. Original Resistance: 1.3085. Inner Sell Area: 1.3072. Target Inner Area: 1.3042. Inner Buy Area: 1.3012. Original Support: 1.2999. Strong Support: 1.2986. Breakout SELL Level: 1.2979. DESCRIPTION: Today EUR/USD has support and resistance at 1.2999 and 1.3085. The rate is accompanied by strong support at […]
Overview: The USD/CHF has already formed a strong resistance at this level of 0.9597 and it is now approaching it in order to test it. Therefore, the Swissy will have a downside momentum, it is rather convincing, and the structure of the fall looks not corrective, in order to indicate a bearish opportunity below […]
EUR/USD: Generally, the EUR/USD has been bullish for this week, though there was a dip in the price (which took the price towards the weekly low of 1.2887). The price has moved upwards by over 130 pips in this week. There is a buy signal in the chart, and so, the price could reach the […]
RECOMMENDATIONS: Buy stop (pending order) at 132.01. Stop loss at 131.91. Take profit at 132.15. Alternative: Sell stop (pending order) at 131.49 Stop loss at 131.59. Take profit at 131.35. 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 […]
Intraday technical levels: Date & Time: 31/05/2013 02:05 Pair:GBP/USD R3: 1.5309 R2: 1.5254 R1: 1.5189 PP: 1.5134 S1: 1.5069 S2: 1.5014 S3: 1.4949 Trading recommendations: According to the previous events, the price is still between the levels of 1.5180 and 1.5060. (Resistance: 1.5260; sell below this level).The descending movement will probably be lower than the […]
Overview As it was expected yesterday, Silver would take an upward move after its rebound from the Support level 22.00 and currently is testing the Resistance level trying to break it through to continue its bullish move. More buy-signals would be provided in case of closing 4H above this Resistance level with first target few […]
Overview As it was expected yesterday, we should make the decision after breaking the Support area consists of the Support level 152.50 and the upper boundary of the bearish channel. As shown on the H4 chart, the pair failed to break this Support area yesterday and bounced from it again to reverse its bearish move […]
Overview: USD/CHF is trading in lower range after retreating sharply from four-day high of 0.9790 on Wednesday. The rate is undermined by month-end positions adjustment; franc demand on retreating EUR/CHF cross. Daily chart is negative-biased as bearish outside-day-range pattern was completed on Wednesday; stochastics falling from overbought; MACD staging bearish crossover against its exponential moving […]
Overview: GBP/JPY is trading with risks skewed lower. The rate is undermined by increased risk aversion; euro sales from Japan exporters. But GBP/JPY losses tempered by euro demand from Japan importers; BOJ’s aggressive easing measures to help achieve its 2% inflation target. Daily chart is negative-biased as MACD and stochastics are in bearish mode; five-day […]
Overview: NZD/USD is trading with risks skewed higher. the rate is supported by month-end positions adjustment. But NZD/USD gains tempered by increased risk aversion; soft commodity prices; Reserve Bank of New Zealand Gov. Wheeler saying the central bank is prepared to increase smoothing operations to limit gains in the Kiwi’s strength, ruling out interest rate […]
Overview: USD/JPY is rebounding after retreating sharply from three-day high of 102.52 on Wednesday on Nikkei’s losses, drop in U.S. 10-year Treasury yield to 2.12% from 13-month high of 2.23% (after auction of $35 billion in 5-year notes saw strong demand), broad dollar-selling as investors adjust positions for month-end; rising Japanese government bond yields (10-year […]
Technical outlook and chart setups: There is no change from what was discussed yesterday. The metal has been trading sideways by taking support at the Fibonacci 0.382 levels of recent rally from 20.00 to 23.00. Long positions taken yesterday can be held but please note that the metal can fall down towards the 0.618 support […]
Technical outlook and chart setups: The metal seems to be still in consolidation, though attempting to break out yesterday and today till now. We need to see a clear break above 1,415.00 level for a confirmation which remains absent for now. It is recommended to book profits on long positions taken yesterday at current price, […]
Overview: Since EUR/NZD did not break our FE 161.8% (1.5851) price rejected from lower diagonal of our channel and made new high at price 1.6160 on ultra high volume. We got buying climax bar (ultra high volume bar) on the high new ground which may be potential short term top on this pair.Price also broke […]
Technical outlook and chart setups: The single currency pair has broken the immediate line of support and has rallied back to test the back side at around 131.50/70 level again. It is expected to reverse sharply down after the test. It is hence recommended to hold on to short positions taken yesterday and even look […]
Technical outlook and chart setups: Looking into the wave structure depicted here, the single currency pair seems to be on track to break below 1.45 level and further. It is recommended to remain short on positions taken earlier for now. Immediate resistance is at 1.48, followed by major resistance at 1.5 and 1.51; while support […]
The weak bullish structure with integrated swings led to the price fell after the upper limit of the movement channel 1.5590-1.5600 had provided a considerable resistance for the pair. Breakdown of important support level 50% Fibonacci (1.5220) then Fibo 61.8% (1.5130) opened the way for the pair towards 1.5015 (Fibonacci 78%) which expressed bullish rejection so […]
