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 05, 2024 April 7, 2024 Potential for the further drop on NAS100 ….The material has…Why is gold defying gravity? – Special Report April 7, 2024 Gold […]
Yesterday the British pound advanced, probably expecting the GDP growth (it is published on Thursday). On Wednesday Retail sales are expected to grow. At 12:00 GMT+4 data on Public Sector Net Borrowing in March is published, it is expected to rise 14.3 billion vs. 4.4 billion in February. At 14:00 GMT+4 data on UK Manufacturers’ […]
Weekly technical levels: Observation(s): If the trend is of an upside character, then the strength of the currency will be defined as follows: USD is an uptrend and CHF is a downtrend. Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account. Fibonacci […]
Overview: The NZD/USD pair is expected to continue moving from the point of 0.8323 (it will call for a strong level). Thus, the kiwi shows the signs of strength following the breakdown of the highest level 0.8323. This fact can be considered as a good signal for buy deals above this strong support (0.8323) with […]
Yesterday data on US Existing home sales in March was published. It was 4.92 million annually vs. forecast for 5.02 million. Figures from the previous month were revised downwardly by 0.02 million. Yesterday data on companies’ financial performance was issued, it was rather weak. Caterpillar cut its growth forecast for the next quarter, however it […]
EURUSD: The EURUSD is currently showing some form of weakness, which has already violated the fragile and precarious bullish sentiment. The price has shown the willingness to move further in a bearish mode and the support line at 1.3000 has been broken to the downside. I am bearish on this market. USDCHF: This pair has […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair was trading sideways, corrective wave (2) (coloured blue) of the bigger wave C (coloured red) has been developing. During the Monday’s European session we could observe strong ascending movement from 1.0247 towards the 1.0284 level (Monday’s high). Therefore, during the New York session this commodity […]
AUD/USD Elliott Wave Since out last analysis the AUD/USD pair has been trading downwards, just like we expected, falling wedge was developing in that period that confirm possible bullish move very soon. During yesterday’s Asian and European sessions we could observe descending movement from 1.0306 towards the 1.0235 level and we can consider this move […]
Read the Daily Market Report from Dave Evans, Professional Trader Markets slip on China manufacturing plungeMorning Report: 08.30 London • This morning world markets have slipped into reverse mode after Chinese manufacturing came in well below estimates and German manufacturing & services date shrank more […]
The spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 1.5310 suggesting a decline. However, a break of these levels will allow it to reach the upper limit of its channel at 1.5390. Technical indicators provide buy signals and, until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands are […]
Gold approaches the upper limit of its medium-term bullish channel at 1,438 suggesting a decline. However, a break of these levels will initiate a more violent bullish channel. Technical indicators do not provide clear signals but, until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands have greatly tightened […]
The spot rate approaches the lower limit of its medium-term bearish channel at 128.60 suggesting a rebound. However, a break of these levels will free a large potential and initiate a more violent bearish channel. Technical indicators do not provide clear signals but, until the support is not broken, the assumption of a rebound is […]
The spot rate approaches the upper limit of its medium-term bearish channel at 1.3060 suggesting a decline. However, a break of these levels will initiate a violent bullish channel. Technical indicators do not provide clear signals, but until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands have stabilized […]
The yen gained on safe haven demand after disappointing manufacturing data from China indicated sluggishness in the recovery of the world’s second largest economy. The HSBC China Purchasing Manager’s Index (PMI) weakened more than expected in April, falling to 50.5, compared with a final 51.6 reading for March. The number was below the 51.5 estimate […]
Overview The H4 chart demonstrates today that silver failed again to break the Support level 23.00 since last week and currently is trading between it and the Resistance level 23.90. Given that silver manages to close 4H below the Support level 23.00 and takes a downward move till reaching the Support level 22.50, it provides […]
As suggested last week, price level 1.5230 stood as an Intraday Support Level. It pushed the pair towards 1.5300 then 1.5360. Price Level 1.5360, corresponding to April 5 high, provided considerable intraday resistance which expressed significant bearish price action leading back again to 1.5230. Recently, Reversal Head and Shoulders pattern was expressed on testing 1.5360. However, […]
Bearish rejection around 1.0300 was followed by multiple days of indecision within the same consolidation range 1.0225 – 1.0330 until the pair gave obvious daily closure below 1.0220 which opened the way towards the projection target at 1.0110. Price level 1.0085 stood as a solid intraday support which provided a good BUY entry which is […]
Technical outlook and chart setups: Gold continues to move in a sequence of higher highs and higher lows forming lows at 1,320.00 level recently. The measured upside targets for the yellow metal are 1,450.00 and then 1,520/30 as depicted here as Fibonacci extensions in the RED. It is therefore recommended to remain long for now […]
Technical outlook and chart setups: As seen here, the metal is still subdued in a trading range and we are still waiting for a break above 24.00 level convincingly. Immediate targets for the metal are 25.00 and 26.00/27.00 levels as Fibonacci extension levels are depicted in RED. Please note that 26.00/50 levels is the area […]
Overview: GBP/JPY is trading with bearish bias after hitting six-day high. The rate is underpinned by weak JPY sentiment after leaders of G-20 nations endorsed Japan’s aggressive bond purchase program; euro demand from Japan importers; improved investor risk appetite. But GBP/JPY gains tempered by Japan exporter sales. Daily chart is positive-biased as MACD is […]
Overview: USD/CHF is trading in higher range. The rate is underpinned by positive USD sentiment; CHF sales on buoyant EUR/CHF cross. But USD/CHF gains tempered by CHF demand on buoyant CHF/JPY as weak yen sentiment supports the cross — risk sentiment was boosted after the International Monetary Fund said markets had overreacted to recent lackluster […]
On Friday, Britain lost its top credit grade at Fitch ratings. Rating agency lowered the UK to AA+ from AAA with a stable outlook, it said in statement in London. The pound was under additional pressure which was made by US stock market. General Electric lost 4% on Friday, McDonalds lost 1.95%, and IBM lost […]
April 22nd 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened higher this morning, tracking gains in Asian markets, after investors interpreted an absence of criticism by G20 nations for the Japanese stimulus polices as support for the same. Meanwhile, IMF Managing Director Christine Lagarde downplayed fears that Slovenia is set […]
AUD/USD Elliott Wave Last week the AUD/USD pair has been trading downwards, corrective wave (A) (coloured green) of the bigger wave Y (coloured red) has been developing. During the Friday’s Asian and European sessions we could observe strong ascending movement from 1.0281 towards the 1.0357 level. Therefore, during the New York session this currency did […]
USD/CAD Elliott Wave Last week the USD/CAD pair has been trading sideways, impulsive wave (3) (coloured blue) of the bigger wave C (coloured red) has started its development. During the Friday’s European session we could observe descending movement from 1.0250 towards 1.0230 level and we can consider this move as the end of the sub-wave […]
Read the Daily Market Report from Dave Evans, Professional Trader Gold recovers as yen hits lowsMorning Report: 08.30 London • This morning, gold is travelling well, with the precious metal up another 1.45% this morning. It still has some way to go to recoup recent […]
The yen weakened further in early Monday trading as currency markets reacted to the G20 meeting over the weekend. Investors were anxious to see if the G20 would criticize Japan for its recent monetary policies that resulted in weakening the yen, and therefore engaging in a currency war and unfair competition. The yen hit a […]
If we look at Gold monthly charts, we can see celarly the price curve still trade above the “kumo” and it means they’re still in the uptrend. The Tenkan Sen already crossed bellow the Kinjun Sen; the price curve already crossed the Kinjun Sen, but the Kinjun Sen is still flatener. The Chikou Span now […]
EUR/USD: The EUR/USD has managed to stay in the bullish zone, in spite of its recent turbulence. Last week was characterized by serious tussle between the bull and the bear, yet the price did not go below the support line of 1.3000. This support line would hold and the price could re-test the resistance line […]
Gold approaches the upper limit of its medium term bullish channel at 1,432 suggesting a decline. However, a break of these levels will initiate a more violent bullish channel. Technical indicators do not provide clear signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have greatly […]
