Since our previous analysis, gold has been trading sideways at the price fo $1,187.20. Using the market profile analysis, I found a strong point of control at the price of $1,186.00. Anyway, I found the trading range between the price of $1,180.40 (support) and the price of $1,197.00 (resistance). The short-term trend is downward but […]

Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.4973 in a high volume. Using the market profile on the M30 time frame, I found that price went from balance to imbalance. Besides, the price broke the swing low in the background, which is a sign of weakness. Watch […]

Wave summary: Well, it will be a lie to say that this cross is exiting… EUR/NZD continues to trade below the minor resistance line, but we continue to look for a firm break above here soon for a more substantial rally towards 1.5730 and above in the longer term. That said, we also need to […]

Wave summary: The expected correction from 120.16 is now unfolding. We have almost seen a test of the 23.6% corrective target at 118.64, but will likely to see a little more correction closer to 117.69 before the next impulsive rally towards 122.00 is expected. Short term, only a direct break above minor resistance at 120.00 […]

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Price reacted perfectly from our major resistance at 1.0596 (Fibonacci retracement, horizontal resistance) where we expect a continued drop towards at least 1.0477 (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) has reacted perfectly off major resistance from our 94% level and still has good downside potential. RSI (34) is also seeing major resistance from the […]

Price bounced perfectly above our buying level from Friday and is making good progress towards our profit target. We remain bullish above 0.7012 support (Fibonacci retracement, horizontal pullback support) for a further push up to 0.7137 (Fibonacci retracement, horizontal resistance, bullish divergence potential). RSI (34) is also seeing a bounce from support at 36% and […]

Price is approaching a major area of resistance at 0.7487 (Fibonacci retracement, Fibonacci projection, horizontal pullback resistance) and we expect a reaction from this level for a drop to 0.7311. RSI (34) is on pullback resistance where we expect a drop from. Sell below 0.7487. Stop loss at 0.7590. Take profit at 0.7311. The material […]

Overview: The GBP/USD pair on November 28, 2016. The market opened below the weekly resistance 2 (1.2553) yesterday. The GBP/USD pair continued to move downwards from the level of 1.2530 to the bottom around 1.2494. Today, the first resistance level is seen at 1.2553 followed by 1.2610, while daily support 1 is set at 1.2470. […]

Overview: The EUR/USD pair broke resistance which turned to strong support at the level of 1.0613. The level of 1.0613 coincides with 23.6% of Fibonacci, which is expected to act as major support today. Since the trend is above the 23.6% Fibonacci level, the market is still in an uptrend. From this point, the EUR/USD […]

So this week it’s Europe’s turn. For the single currency, Sunday’s Italian referendum on constitutional reform is not on the same scale as June’s Brexit vote and this month’s US election. In essence, it’s asking whether Italians want to reform the working of both the main and regional assemblies. But in reality it encompasses much […]

The Dollar index is weaker at the start of the week. Price has made a short-term top at least for now at the long-term 61.8% Fibonacci retracement resistance at 102. A correction has started. This pullback is justified and I have been warning Dollar bulls for quite some time to raise their stops. Black line […]

There are no economic announcements scheduled for release in this new week that has begun with the Almighty Dollar losing value against all other currencies. After rallying for most part of the month. The USD index lost 0.70% against a basket of other currencies, adding to Friday’s small losses. Upcoming events that could stir up […]

Gold price is showing reversal signals off the $1,170 lows which was my lower price range level of an important low. This is also the 61.8% Fibonacci retracement of the entire rise from $1,045 to $1,375. I remain longer-term bullish looking for a new upward move above $1,400 over the coming weeks. Black line – […]

Global macro overview for 28/11/2016: The Organization of the Petroleum Exporting Countries (OPEC) will meet in Vienna on November 30 and this meeting will be in the spotlight of global investors. The main reason for such vivid interest is the fact, that OPEC members are still on the same page of the production cut agreement, […]

On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations. On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where […]

As long as the NZD/USD pair continued trading above 0.6860, further bullish advance was expected towards the upper limit of the depicted channel around 0.7400. During August and September, a consolidation range was established from the price level of 0.7250 up to 0.7350. Later on October 20, the lower limit of the consolidation range (0.7250) […]

The price zone between 1.3845 and 1.3550 (historical bottoms set in January 2009) was considered a significant demand zone to be watched for bullish recovery. However, by the end of June a significant bearish break below 1.3550 was expressed as seen on the depicted charts (fundamental reasons). Bearish persistence below the demand level at 1.3550 […]

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was projected towards 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level around 1.0570, which had been previously reached in August […]

General overview for 28/11/2016: The market keeps trading horizontally between the intraday support at the level of 13378 and intraday resistance at the level of 1.3566. The first three waves of this wave progression have been completed and now it looks like the tow for the wave x (green) is in place as well. That […]

General overview for 28/11/2016: The price have got back to the channel (dashed blue line) and now is trading just around the weekly pivot at the level of 119.23. A three-wave decline towards the intraday support at the level of 118.99 looks corrective, but it might not be the complete wave (iv). The ideal target […]

Welcome to the easyMarkets weekly outlook starting this Monday 28 November. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. Be sure to catch up with our Friday morning report that looks back at how the events played out and with a look at Friday’s events. This […]

USD/JPY is expected to trade in a lower range as bias remains bearish. The pair stays above its horizontal resistance at 113.25, which should limit the downside potential. Even though a continuation of the consolidation cannot be ruled out at the current stage, its extent should be limited. On Black Friday, the three major U.S. […]

Overview The gold price trades with clear positivity now in attempt to move away from 1,172.68 levels, which supports continuation of our bullish overview for the upcoming period. The price is likely to test the 1,211.31 level as the next main target. Therefore, the bullish bias will remain suggested for the rest of the day […]

Overview The silver price approaches from retesting the 16.56 level that forms key resistance now as holding above this level represents the key to negative scenario continuation, which targets 15.49 levels in the upcoming period. Therefore, we will keep our bearish trend expectations valid for today unless breaching and holding above 16.56 levels, as the […]