Global macro analysis for 19/05/2017: Another set of the good news from the US job market has hit the newswires. US Initial Jobless Claims declined to 232k in the week ending May 13th from 236k previously while consensus forecasts were for a small increase to around 240k for the week. The Continuing Claims declined as […]

Since April 2016, the USD/CAD pair has been trending upward within the depicted ascending channel. In December 2016, a bullish breakout above 1.3300 (50% Fibonacci level) was expected to allow a further advance toward 1.3700-1.3750 (the upper limit of the depicted channel). However, significant bearish rejection was expressed around 1.3580 (recently established top). During the […]

In December 2016, a bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair. Bullish persistence above 0.7100 allowed a further advance toward 0.7250-0.7350 (a sell zone) where the bearish price action was expected. Bearish persistence below […]

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. Event: RBA Meeting Minutes Date: Tuesday 16 […]

Trading plan for 19/05/2017: Financial markets were calm overnight, which can be attributed to the lack of events this week. After the US stock markets managed to bounce, the overnight session in Asia was calm as well. Shanghai Composite lost 0.1%, but Nikkei was up 0.3%. The currency market moves in flat drifts, only Crude […]

The Dollar index is heavily oversold. Yesterday I expected a bounce off the day lows and we managed to see such a bounce but not as strong as initially expected. This means that the downward pressures remain very strong and in control of the trend. However I believe traders will get better prices for shorting […]

GOLD price as expected is pulling back from the important weekly resistance at $1,260. Bulls now we need to see a higher low relative to the May lows at $1,214. A corrective pullback that will not hurt the bullish scenario should hold above $1,234. Gold price is trading above the 4-hour cloud. Trend is bullish. […]

Recently, AUD/JPY has been in a volatile corrective structure. Yesterday, despite positive reports from Australia AUD could not dominate JPY. Australia released Employment Change report which showed an increase of 37.4k, much better than the forecast for moderate 4.5k growth. Besides, Unemployment Rate declined to 5.7% from 5.9%, analysts projected a flat reading. On the […]

Wave summary: We continue to look for a strong break above minor resistance seen at 1.6154 to add upside acceleration towards the next target seen at 1.6655. Short term, we expect minor support near 1.6033 max. 1.5987 to be able to protect the downside for the break above 1.6154. Only a direct break below support […]

Wave summary: As long as the minor resistance at 124.11 is able to cap the upside, a deeper corrective decline in wave B could be seen towards 120.69. Once this B-wave correction is complete, a new strong rally will be expected in wave C towards 138.52. In the short term, a break below minor support […]

When the European market opens, the eurozone will post the reports on consumer confidence, current Account, and German PPI. At the same time, the US will not release any key econmic data. So, amid the reports EUR/USD will move with a low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.1166. […]

Today, the economic calendars of Japan and the US are bereft of any first-tier news, so there is a probability the USD/JPY pair will move with low volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: 111.75. Resistance. 2: 111.53. Resistance. 1: 111.31. Support. 1: 111.04. Support. 2: 110.83. Support. 3: 110.61. Disclaimer: Trading Forex […]

Overview: In the long term, the USD/CHF pair continues to move downwards from the level of 0.9893. The major resistance level is seen at 0.9850 followed by 0.9893 as second resistance. Also, the level of 0.9787 represents a weekly pivot point for that it will act as major level in coming hours. Amid the previous […]

Overview: The NZD/USD pair is still moving upwards from the area of 0.6876. Additionally, the first resistance level is seen at 0.6971 followed by 0.7014, while daily support 1 is found at 0.6876. According to the previous events, the NZD/USD pair is still moving between the levels of 0.6876 and 0.6971. As the price is […]

USDX gained momentum during the afternoon in the American session on Thursday, following reports of a video where former-FBI director James Comey suggested that there were no obstructions to investigations ongoing. Currently, the index is supported by the 97.50 level and that zone should give up to extend the bearish momentum towards 96.90. To the […]

The UK’s upbeat figures released on Thursday provided support to GBP/USD, but in the American session it managed to erase the gains and turned negative, following a “flash crash” lived in a matter of seconds. Now, the pair is finding support at the 200 SMA (H1 chart), looking to resume the overall bullish bias. However, […]

We take a nice detailed look at USD/JPY and see if there are any trading opportunities for us to make some juicy pips! We combine the art of Fibonacci retracements, Fibonacci extensions, Support & Resistance along with Stochastic and RSI to determine the best entry, stop loss and profit targets. Subscribe to me for more […]

Price has dropped perfectly and reached our profit target. We prepare to buy above 1.0700 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to at least 1.0753 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing strong support above the 4.75% level where we expect a bounce from. Buy above […]

US stocks have rebounded after yesterday’s sell off, so let’s find out what’s moving and shaking on the FX Markets at 3 PM GMT. Sterling/New Zealand is the mover of the day with a gain of point 53% and all of it was posted as the rate rose sharply on positive UK retail sales numbers. […]

Price has bounced up perfectly from our buying area yesterday and is approaching our profit target once again. We prepare to sell below 0.7454 resistance (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) for a drop towards 0.7397 support (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) is seeing strong resistance at 95% level where we expect […]

Overview The USD/JPY pair traded with a strong bearish bias yesterday to surpass our second target at 111.65 and settle below it. This opens the way towards the continuation of the bearish trend on the short-term basis. The price confirmed the return to the bearish channel that is displayed on the chart. Now the pair […]

Overview The GBPJPY pair managed to decline towards 143.30 to test the support line represented by 23.6% Fibonacci level. The bullish scenario depends on the strength of this support to continue suggesting bullish attempts that target 145.45 followed by a further rally towards 148.45 top. We should note that the price attempts to decline below […]

Overview GOLD price managed to confirm the return to the main bullish channel after closing yesterday’s trade above 1,254.56 level. This reinforces expectations for a further bullish trend on the short-term basis. Besides, it provides signals of stopping the downward correction that set the tone for trading in the second half last month. Therefore, we […]

Overview Silver price are still holding above 16.80 level, and the EMA50 provides continuous positive support for the price. At the same time, stochastic is making attempts to get rid of its negativity, so solver is gaining momentum gradually that is seen on the chart of a four-hour time frame. Therefore, these factors encourage us […]

Technical outlook: The EUR/USD pair continued to probe higher highs yet again taking stops out above 1.1122 levels. Nonetheless, the wave structure still looks unchanged as depicted on a Daily chart here. The story begins from November 08, 2016 highs made at 1.1300 levels. The entire drop through 1.0350 levels can be still labelled as […]