Overview Silver price is showing more decline to move away gradually from 16.56 level. This reinforces the expectations of a further decline in the short term. The way is open towards 15.49 that represents our next main downward target. Therefore, the bearish trend will remain valid on the intraday and short-term basis, supported by the […]

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: New Zealand Employment (Q1 2017) Date: […]

In December 2016, the NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred. 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 […]

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 […]

The trading week may be coming to an end, but that’s no reason to let your guard down; keep your broker accountable with the Main Spike Controller. Euro/Dollar’s average and peak long-term spreads stand at point 33 and 1.2 pips, respectively. The last 24 hours have been bullish for this pair, which has gained point […]

AUD/JPY has shown bullish exhaustion in recent trading days. Currently, the price is residing just above 82.90 support level. As of Reserve Bank of Australia’s Monetary Policy Statement published today which was dovish in nature which made AUD lose some grounds against JPY. Along with Monetary Policy Statement report today, AIG Construction Index report was […]

EUR/AUD has been in a non-volatile bullish impulsive pressure after the break above 1.4600 resistance level. Recently EUR has been quite positive in economic reports in comparison to AUD and the chart itself showing its evidence now. Today AUD AIG Construction Index report has been published with an increased value at 51.9 which previously was […]

By James Trescothick, Chief Global Strategist.   There I was enjoying a mid-evening refreshment with a good friend of mine as we waited with anticipation the open of the Asian session.  With the initial results of the first round of the French elections coming in, we were both expecting some form of relief rally for […]

Markets on edge as either Macron or Le Pen will become the next President of France.

It’s time for this week’s last Main Daily Trading Signals. Here’s how the technicals compare with the interbank at 8 AM GMT. All three time ranges bring different results for the Euro/Dollar, which is mostly bearish in the short-term and neutral in the mid-term. All 8 studies point North on the daily chart and, indeed, […]

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Professional Forex news analysis on all major currencies: (EUR/USD) (USD/JPY) (GBP/USD) (USD/CHF), (USD/CAD), (AUD…

Global macro overview for 05/05/2017: The Reserve Bank of Australia released its Monetary Policy Statement overnight. As we remember, the RBA voted earlier this week to keep interest rates unchanged at the level of 1.5%, a decision that was in line with the consensus. The policy has been on hold since August as officials seek […]

The second-round of the French presidential election will be held this Sunday May 7. Per the latest IFOP (French Institute of Public Opinion) projections; Macron has 60.93% share of votes whereas Le Pen has 39.07%. Macron inherited 43% of Fillion’s, 70% of Hamon’s and 50% of Melenchon’s voters. Le Pen inherited 31% of Fillion’s, 3% […]

Key resistance of USD/JPY is seen at 112.70. The pair is rebounding and is challenging the declining 20-period moving average. Nevertheless, the key level at 112.70 as well as the 50-period moving average are playing resistance roles. The relative strength index is below its neutrality level at 50 and lacks upward momentum. As long as […]

Oil and other energy commodities were hammered to the extent of 5% losses yesterday forcing oil prices to 5 month lows. Iron Ore fell 8% at one point. As a result of the slide, currencies of countries who are heavily reliant on export of oil such as Canada, fell to 14 month lows while AUDUSD […]

GOLD price has broken to new lows yesterday but is very close to making an important bottom reversal if it has not already bottomed. Gold price should bounce at least towards $1,260-70. There are many signs of bullish divergence and similar to when Gold was at $1,194. Gold continues to trade below the Ichimoku cloud […]

Wave summary: The corrective low for wave [iv] was seen at 1.5645 and wave [v] higher is now unfolding. This rally should be able to rally towards minimum 1.6172 and ideally, will extend higher towards 1.6500 and 1.6655 to complete wave iii. If, however, EUR/NZD fails to clear resistance at 1.6172 it will indicate that […]

Wave summary: EUR/JPY has just hit and slightly exceeded the ideal 123.21 target, this indicates a possible extension closer to 124.06 before the rally in wave A is complete. That said, it should be a matter of time before the top is in place and a corrective decline in wave B towards 120.30 and maybe […]

Toronto is the 4th largest city in North America and anchors a greater metropolitan region of nine million — more than a quarter of Canada’s entire population. A city this size is an ideal candidate to preview real estate trends in Canada and in the United States. http://www.elliottwave.com/Investor-Research/Financial-Forecast-Service?tcn=ytv1703 Learn How the Wave Principle Can Improve […]

The crucial US labour market data for April will be released this Friday May 5, at 13:30 BST. It includes non-farm payrolls, unemployment rate and average hourly earnings. Please note that the release of US labour market data will likely cause volatility for USD, USD crosses and commodities. Spot GOLD has retraced around 3.6% since […]

GOLD price broke below short-term support and is now testing a weekly cloud and technical support at $1,235. This is a great opportunity and a gift for Gold bulls as I believe the low we are about to make will be of equal importance to $1,180 and $1,194. Blue lines – bearish channel Green rectangle […]

Wave summary: We continue to look for an extension in wave [iv] closer to 1.5554 before completing this correction and pushing prices higher towards the 1.6655 target. Only a direct break above resistance at 1.5940 will confirm that wave [iv] has been already completed with the test of 1.5644 and wave [v] higher, which is […]

Wave summary: EUR/JPY keeps pushing higher towards the expected wave A target at 123.21, from where a corrective decline in wave B towards at least 120.00 is expected. The corrective decline in wave B can push lower towards 119.01, but time will show. Keep looking higher for a test of 123.21 against minor support at […]

The Federal Reserve is widely expected to keep interest rates unchanged at the end of its two-day policy meeting today, but investors will look to see whether the central bank downplays the recent soft patch in the economy to leave the door open for a rate increase in June. The Federal Reserve is widely expected […]

GOLD price is close to bottoming. Gold price has limited downside potential and could go as low as $1,245. I cannot see it lower than that area. Gold is expected to bounce strongly towards $1,300 and higher after the coming reversal. Blue lines – bearish channel Green rectangle – support area Gold price is inside […]