Yesterday the euro managed to recover positions after it was under the downward pressure that led the U.S. dollar to 1.2730 level, finding strong support in the daily fractal. However, at the end of the day it closed above the 200 day moving average periods (blue) which increases the probability of an upward movement of […]
The Australian dollar shows a bearish signal on the daily charts. Recently we had noticed that this pair should fall, believe that the decline is not over as the Aussie should stop performing in support of daily fractal 1.03. In view that now the pair is below the 1.0445 fractal it increases the likelihood that […]
Overview The H4 chart demonstrates today that silver is still trading around the Support level 27.00 and currently is trying to break it through to continue its bearish trend. If silver manages to close 4H below it, it provides a good opportunity to sell below the Support level 27.00 with a level target of 26.60. After […]
Overview Proceeding from today’s H4 chart, the pair took a strength bullish trend yesterday and managed to trade out of the bearish channel after breaking the Resistance area 142.00-142.50 and currently is testing the Support level 145.85. If the pair bounces from this support level and continues its bullish movement, we will get a good […]
Overview: USD/JPY is consolidating with bullish bias as markets await U.S. March Non-Farm payrolls (expected to have increased by 200,000) and unemployment rate (expected to have stayed at 7.7%). USD/JPY surged three-and-a-half yen on Thursday to 96.42 after Bank of Japan exceeded market expectations with the scale and pace of expansion in its asset-purchase program […]
The dollar weakened sharply against most major counterparts after a huge disappointment in US jobs data. The much anticipated nonfarm payrolls report showed that only 88,000 jobs were created last month, the smallest in nine months, much lower than forecasts of 200,000 jobs. Meanwhile, February’s numbers was revised up to a 268,000 gain, that was […]
Overview: USD/CHF is consolidating with bearish bias after hitting eight-day low of 0.9379 on Thursday as markets await U.S. March Non-Farm Payrolls (expected to have increased by 200,000) and unemployment rate (expected to have stayed at 7.7%). USD/CHF is undermined by negative USD sentiment. But USD/CHF losses tempered by positions adjustment before weekend. Daily chart […]
Overview: GBP/JPY is consolidating with bullish bias as markets await U.S. Non-Farm Payrolls report. GBP/JPY is supported by more-aggressive-than-expected BOJ asset-purchase program aimed at achieving its 2% inflation target; positive global risk sentiment; demand from Japan importers. But GBP/JPY gains tempered by Japan exporter sales; positions adjustment before weekend. Daily chart is positive-biased; MACD and […]
Technical outlook and chart setups: As seen here, after printing fresh lows since last few trading sessions, the metal has finally produced a bullish reversal signal (Tweezer Bottom) around sub 26.00 level. Considering this region as the support band for several months, it is recommended to initiate fresh long positions now (26.90/95). Support is just […]
Overview: NZD/USD is consolidating with bearish bias as markets are await U.S. Non-Farm Payrolls report. NZD/USD is supported by negative USD sentiment; positive global risk sentiment; NZD-USD yield gap; Kiwi demand on buoyant NZD/JPY cross. But NZD/USD upside is limited by weak commodity prices; Kiwi sales on rebounding EUR/NZD and GBP/NZD crosses; positions adjustment before […]
Short overview: The price is probably going to form a strong support at 0.9400 (23.6% of Fibonacci retracement levels in the H1 to H4 chart). The saturation is likely to take place around 0.9400. Therefore, it is possible that the market will start showing bullish signs. The daily pivot point is set at the level […]
History will probably repeat itself at this level again. Overview: USD/CAD: If the trend is not able to break and close above the level of 1.0300, then it will be a downside momentum, which is rather convincing and the structure of the fall does not look corrective, for that the market will indicate […]
Technical outlook and chart setups: Looking into the daily chart presented here, 119.00 level of support has held strong and the prices rallied more than 400 points from there. It is encouraged to book partial profits and hold long on the remaining. Fresh longs could be entered on a pullback around 122.00 level now. Immediate […]
Technical outlook and chart setups: A simple wave structure of 4H chart has been depicted here. The long term support region was around 1,530/40 region and the prices have just produced a morning star, bullish reversal trade signal. Support is just below 1,540.00 now, while resistance is lined up from 1,610/20, through 1,650/60 and higher. […]
Technical outlook and chart setups: There is no change in the overall structure depicted here on the 4H chart. The single currency pair has held resistance at 1.4530 level and is probably heading towards 1.42 level immediately. Support is now just below 1.42, followed by 1.4030 and lower. It is recommended to remain short-from positions […]
Currency markets were quiet during the European session on Friday as many investors preferred to wait on the sidelines ahead of key US economic data. The nonfarm payrolls report is due at 1230GMT. Consensus is for a drop in job creation, with estimates ranging from 198,000 to 200,000, lower than the previous month’s number of […]
Yesterday UK Services PMI in March grew from 51.8 to 52.4 (estimates 51.4). However, the drop of the pound was not averted amid Bank of Japan decision. On Thursday it was announced that Bank of Japan planed to purchase 7.5 trillion yen of bonds a month and double the monetary base, which includes cash in […]
Yesterday it was announced that Bank of Japan planed to purchase 7.5 trillion yen of bonds a month and double the monetary base, which includes cash in circulation, in two years, in a bid to end two decades of economic stagnation and 15 years of deflation. Meanwhile, monetary base increases 60-70 trillion yen a year […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has been trading downwards, and we changed our wave count a little bit to adjust best possible scenario for today. Yesterday, during the Asian and European session we could observe strong descending movement from 1.0474 towards the 1.0385 level, and we can consider this […]
USD/CAD Elliott Wave For the last few weeks the USD/CAD pair has been trading downwards, corrective wave Y (coloured blue) of the bigger wave (4) (coloured green) was developing. Yesterday, during the Asian session we could observe ascending movement from 1.0144 towards the 1.0165 level. Therefore, during the European and New York sessions this currency […]
FOREX Daily Outlook by Easy-Forex.com Euro ranging ahead of ECB press conference The euro (EUR) remained range bound versus the US dollar (USD) just ahead of this afternoon’s European Central Bank (ECB) press conference. The single currency, moving above 1.2835 is expecting the speech and press questions to the ECB president, Mario Draghi. Mr Draghi […]
Read the Daily Market Report from Dave Evans, Professional Trader Yen stable after dramatic plungeMorning Report: 08.30 London • This morning, the Japanese yen is slightly higher after huge losses yesterday on the back of a dramatic Bank of Japan meeting. • The AUD/JPY saw the […]
The yen extended losses in Friday’s Asian session to reach a fresh 3-1/2-year low after suffering its biggest one-day tumble since late 2008 in the previous day, when the Bank of Japan surprised markets by announcing bold monetary policy to attack deflation. The dollar rose as high as 97.20 yen, a level not seen since […]
RECOMMENDATION: Sell stop (pending order) at 1.0399. Take profit at 1.0385. Stop poss at 1.0409. Alternatives: Buy stop (pending order) at 1.0451. Take profit at 1.0465. Stop loss at 1.0441. 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 […]
RECOMMENDATION: Buy stop (pending order) at 1.5251. Take profit at 1.5295. Stop loss at 1.5218. Alternatives: Sell stop (pending order) at 1.5213. Take profit 1 at 1.5202. Take profit 2 at 1.5185 (optional). Stop loss at 1.5231. Best regards, Arief Makmur Official Analyst of InstaForex Group InstaForex Group http://instaforex.com Email: [email protected] Yahoo Messenger […]
EUR/USD: The EUR/USD traded upwards on Thursday, following the sudden weakness in the greenback. The Williams’ Percent Range has shot into the overbought territory, and the price has crossed the EMA 56 to the upside, closing above it. One would be preparing to go long as soon as the EMA 11 crosses the EMA 56 […]
The European Central Bank held a policly meeting on Thursday and announced its decision to maintain the benchmark interest rate at 0.75 percent, as widely expected. The following are highlights of the ECB President Mario Draghi post-meeting news conference: DOWNSIDE RISKS “The downside risks include the possibility of even weaker than expected domestic demand, and […]
Central bank meetings around the world were in the spotlight on Thursday. The European Central Bank and the Bank of England kept monetary policy unchanged while the Bank of Japan dared to differ and adopted more monetary policy easing. The dollar surged against the yen immediately after the BOJ announced it will double the size […]
April 4th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Cautious start for European stock markets this morning with investors reluctant from building risk exposure ahead of central bank meetings from the BOE and ECB together with PMI services data from the region before that. The BOE are expected to keep policies on hold […]
Central bank policy meetings dominated the news on Thursday. The day began with the Bank of Japan expanding stimulus measures and the Bank of England and European Central Bank keeping rates and policy steady. The euro briefly popped higher against the dollar after the ECB announced it left the key interest rates unchanged at 0.75 […]
