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Euro Inflation Increases as the Impact from the Oil Price Decline Fades
Euro deflation eased in March as the flash estimate for HICP inflation increased to -0.1% y/y from -0.3% y/y in February. The HICP inflation print was in line with consensus expectations, but core inflation surprised on the downside as it decline to 0.6% y/y in March from 0.7% y/y in

Forex Technical Analysis
The uptrend is still intact, currently testing 120.40 resistance area. Initial support lies at 119.50 and an eventual violation of 120.40 resistance will challenge 121.20 area.

Trade Idea Update: USD/CHF - Buy at 0.9650

As the greenback has surged again and broke above indicated resistance at 0.9693-95, adding credence to our view that temporary low has possibly been formed at 0.9491 last week and consolidation with upside bias remains for retracement of recent fall to 0.9760-70, then towards 0.9795-00 (61.8% Fibonacci retracement of 0.9984-0.9491),

Trade Idea Update: GBP/USD - Sell at 1.4840

As the British pound has remained under pressure, suggesting the fall from 1.4994 is still in progress and may extend weakness towards 1.4722 support, however, as broad outlook remains consolidative, reckon downside would be limited to 1.4700 and support at 1.4689 should remain intact, bring further choppy trading within 1.4689-1.5010 range.

Trade Idea Update: EUR/USD - Sell at 1.0840

As the single currency has fallen again after faltering below the Kijun-Sen and with price broke below previous support at 1.0801, suggesting the fall from 1.1052 is still in progress and may extend weakness to 1.0695-00 (100% projection of 1.1052-1.0801 measuring from 1.0949), however, break of 1.0685-90 (61.8% Fibonacci retracement)

Trade Idea Update: USD/JPY - Buy at 119.60

Yesterday's rally above 119.49 and 119.98 resistance adds credence to our view that the fall from 122.03 has ended at 118.33 last week and bullishness remains for the rise from there to extend gain to 120.36 (1.236 times projection of 118.33-119.49 measuring from 118.93) but reckon upside would be limited

GBP/USD Elliott Wave Analysis

The British pound has retreated after meeting resistance at 1.4994 last week, suggesting further consolidation would be seen, however, still reckon downside would be limited to 1.4720-25 and bring another rebound later, above 1.4900-05 would bring test of said resistance at 1.4994 but break there is needed to signal another

European Market Update: Euro Zone Deflation Eases Since The Implementation Of ECB QE, German ...
The USD was poised to end Q1 on a firm note with its best quarterly performance since late 2008 aided by diverging monetary policy between the Fed and other G7 central banks. Over two dozen global rate cuts were performed in Q1 while the Fed edged closer to raising rates

GBP/JPY Elliott Wave Analysis

Sterling only recovered to 181.05 before meeting renewed selling interest there (we recommended in our previous update to sell at 181.40) and the pound has fallen again since, adding credence to our view that the rebound from 175.50 has ended at 185.00 and bearishness remains for weakness to 176.45-50, then

Markets Focus On Oil & Canada
With FX markets subdued and talks over the Greek reform plan failing to produce new headlines, traders have turned their focus back to oil. Today is the deadline for the US-Iran talks (less than 24hrs left). There is marginal optimism that an agreement can be reached (although talks have been

AUDUSD: More Weakness To Come
AUDUSD reversed sharply to the downside last week from 0.7936 high with recent accelerating price trough the lower side of an upward channel. As such, we assume that correction is already done in fourth wave as current bearish move has impulsive qualities, so more weakness will be expected in days

Trade Idea: EUR/JPY - Stand aside

As the single currency has dropped again after faltering below resistance at 130.42, suggesting near term downside risk remains for the retreat from 131.51 to extend weakness towards 128.37 support, however, break there is needed to signal the rebound from 126.91 low has ended at 131.73 earlier and further fall

Trade Idea: AUD/USD - Sell at 0.7665

As aussie has remained under pressure and indicated support at 0.7612 was penetrated, adding credence to the view that the rebound from 0.7560 has ended at 0.7938, hence bearishness remains for further weakness towards recent low at 0.7560, however, break there is needed to confirm early decline has resumed and

European Session: Orders and Options Watch
EUR: The single currency dropped again today and bids at 1.0800, 1.0770-80 together with stops below 1.0760-65 were tripped, however, buy orders are still noted at 1.0730 and 1.0700 (stops below), more buying interest is tipped at 1.0660-70 and 1.0630-40, fresh demand should emerge around 1.0610-15 with more stops placed

Today's Market Outlook
The Euro breaks below 1.08 near-term base, signaling an end of consolidative phase and resumption of pullback from 1.1050, 26 Mar high. Fresh acceleration lower took out daily 20SMA at 1.0789 and supports at 1.0756/48, Fibonacci 38.2% retracement of 1.0461/1.1050 rally 4-hour Ichimoku cloud base, with further acceleration lower

Dollar Rallies As PBOC Signals More Easing
Yesterday, the dollar profited as markets anticipated more easing in China and elsewhere in Asia. USD/JPY regained the psychological level of 120. EUR/USD dropped below 1.08. Today, the US eco data might support the dollar further. Sterling remains in the defensive as uncertainty on the UK elections weighs

Gold Looks To Test Recent Lows
Gold retested the lows around the $1,140 mark recently as US dollar strength and speculation of an interest rate hike from the Fed led to plenty of gold selling. The bounce off the support once again validated this level as a strong support zone that will be tough to break.

Europe Futures Lower Ahead Of Euro CPI And UK GDP Data
European futures are pointing to a slightly weaker open on Tuesday, the final day of the quarter. Quarter end can bring about some unusual trading activity which should be taken into consideration today as investors look to balance their books. The fact that we're also approaching the end of the

Trade Idea : USD/CHF - Buy at 0.9650

As the greenback has surged again and broke above indicated resistance at 0.9693-95, adding credence to our view that temporary low has possibly been formed at 0.9491 last week and consolidation with upside bias remains for retracement of recent fall to 0.9738 (50% Fibonacci retracement of 0.9984-0.9491), above there would

German And Spanish Inflation Picks Up, Euro Zone's Consumer Confidence At Highest Level Since 2011
Deflationary pressure in both Germany and Spain eased in March, helped by recovery from the sharpest slump last year amid falling oil prices. Consumer price index in the fourth largest economy of the Euro zone was released ahead of expectations, declining 0.7% on the annual basis, against a forecast of

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