On Thursday, the US Department of Labor released Initial Jobless Claims for the week ending October 13th that showed a resilient and stable labor market. Initial claims fell 22K to a seasonally adjusted 222K – the lowest since March 1973. The data is now becoming more realistic as the impact of the recent Hurricanes is […]

USDCAD maintains a bearish market structure as the pair continues to trade below the 200-day moving average. Looking at the short-term, prices made a corrective move higher after bouncing from 1.2061 and are currently consolidating around the 1.25 handle. Immediate support is being provided by the 50-day MA, currently at 1.2438. Breaking below this level […]

Forex Market Reviews: http://thefxlounge.com/#Market-Review -The Politics driving FX price change. –BITCOIN is up on the week. -Was that it from the Germany 30? -Governor Kurodas last speech before Sundays election. -Mixed signals on Brexit from EU. – US senate opens the door to tax reform. -The change to EV’s in numbers. The overnight changes and […]

Welcome to the EasyMarkets weekly review where we look back over the results of some of the previous week’s economic indicators. It gives us the chance to reflect on how much expectations were met or missed and to examine a successful trade you could have made this week. Later today we have Canada’s CPI figures […]

When the European market opens, some Economic Data will be released, such as Current Account and German PPI m/m. The US will release the Economic Data, too, such as Existing Home Sales, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY Level: 1.1904. […]

In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data, such as Existing Home Sales. So, there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 113.51. Resistance. 2: 113.28. Resistance. 1: 113.06. Support. 1: 112.79. […]

EUR/USD: In the short-term, this pair is neither bullish nor bearish. It is thus better to remain neutral until the price goes above the resistance line at 1.1850 (staying above it), or it goes below the support line at 1.1700 (staying below it). As long as price remains within these two boundaries, the outlook on […]

Wave summary: There was no time for a deeper correction towards 1.6150. Wave iii towards 1.8032 is already well underway. The base channel resistance near 1.7030 will mark the first resistance, but if wave iii higher is developing, then this resistance should pose as no more than a temporary hurdle and once cleared the road […]

The price is forming a very strong reversal pattern and we remain bearish below major resistance at 133.55 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance, Elliott wave theory) and we expect to see a strong drop from this level towards 131.90 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,3,1) is seeing major resistance at […]

The price is forming a very strong reversal pattern and we remain bearish below major resistance at 133.55 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance, Elliott wave theory) and we expect to see a strong drop from this level towards 131.90 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,3,1) is seeing major resistance at […]

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What a day on the FX markets as we have a number of pairs showing two plus percent rate shifts. New Zealand/Swissie reflects both the Kiwi Dollar weakness and the safe-haven flows as the pair has lost a massive 2.42% in a sharp decline. Volatility index has jumped and safe-havens are on a rise. Swiss […]

Overview GOLD price begins today’s trading with a bearish bias, moving below 1,281.17 level after closing the daily candlestick below it. This puts the price under more expected negative pressure on the intraday basis, targeting 1,263.15 before attempting to return to rise again. Therefore, we expect more decline in the upcoming sessions supported by the […]

Yesterday, the markets displayed major signs pointing towards a strong Oil growth momentum, including Brent price nearing important resistance level of previous highs, anxiety regarding supplies in the Middle East, the dollar falling against most competitors, while U.S. data revealed a significant fall in Crude production by almost 1.5 million barrels per day and a […]

The kiwi posted additional long red candles during the European session after the kingmaker New Zealand First party backed the opposition party early today, forming a new coalition government. The Pound fully reversed yesterday’s gains in the wake of worse-than-expected retail sales. September’s British retail sales tumbled by 0.8% from August, surprising analysts who had […]

NZD/USD has been impulsively bearish today as the pair broke below the key support area of 0.7050 recently. NZD has been quite strong amid recent economic reports which helped the currency to sustain the gain against USD. Nevertheless, today without any high impact economic reports the market just moved over 100 pips downwards engulfing the […]

As trading progressed, the pan-European Stoxx 600 deepened its losses relative to morning trading, recording a three-week low of 387.81 at its lowest. At 1330 GMT, it was down by 0.9%, not far above the aforementioned low and with all industry sectors comprising the index being in negative territory. Major European benchmarks also remained in […]

USD/CHF is under pressure and expected to continue the downside movement. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index is bearish, calling for another downside. To conclude, below 112.85, look for a new challenge with targets at 112.10 and 111.85 in extension. Alternatively, if the […]

USD/CHF is under pressure and expected to continue the downside movement. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index is bearish, calling for another downside. To conclude, below 112.85, look for a new challenge with targets at 112.10 and 111.85 in extension. Alternatively, if the […]

Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.3128. According to the 15M time – frame, I found rejection from pivot resistance 1 at the price of 1.3230 in the background, which is a sign that intraday sellers are in control. Most recently, I found a […]

Inflation and retail sales numbers out of Canada on Friday will be scrutinized for clues to a possible year-end rate hike by the Bank of Canada, following comments recent remarks from BoC Governor Stephen Poloz that suggested a pause after two consecutive hikes. The Canadian dollar has rallied by over 7% against its US counterpart […]

USD/CHF is under pressure and expected to trade in a lower range. The pair is trading within the bearish channel, which confirmed a negative outlook. The relative strength index lacks upward momentum. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The U.S. dollar pared gains against other […]

Our both targets which we predicted in yesterday’s analysis have been hit. After hitting 149.30, the price turned down sharply and now it is expected to continue its downside movement. The pair is expected to continue its sharp decline toward the support at 147.80 while being supported by the descending 20-period moving average. As intraday […]

Recently, the USD/JPY has been trading sideways at the price of 112.55. Anyway, according to the 15M time – frame, I found testing of pivot support 1 around the price of 112.36, which is a sign that selling looks risky. There is a hidden bullish divergence on the stochastic oscilator, which is another sign of […]

The BITCOIN (BTC) has been trading sideways at the price of $5.628. At a recent State Duma Financial Market Committee meeting, an initiative to create a “crypto-detective agency” in Russia was proposed. This specialized agency will primarily collect all information on Russian companies planning to launch an initial coin offering (ICO) as well as create […]