FOREX Trading with Easy Forex

Through its real-time Forex trading platform, Easy-Forex Australia offers complete suite of tool for Web, Desktop, Mobile and MT4 trading with 24 hours a day support and Dealing room service. In addition, Easy-Forex provides One on One Forex training, The Forex School - Video on Demand forex trading lessons, and Forex seminars.

Why trade with Easy-Forex?

  • Guaranteed Stop-Loss Rate.
  • Competitive spreads. No commissions.
  • Online Forex trading with live, real time quotes.
  • No software downloads.
  • Start trading within minutes. Instant deposit with your credit card.
  • Freeze and Trade© - freeze the rate for buying and selling foreign currencies.

Easy-Forex Weekly Outlook


Written by

General Description

Last Week's Currency Trading Review:


The EUR/USD edged up on Friday to trade at 1.3410 as markets went a bit haywire. The euro was weak most of the previous week. The ECB decision on Thursday was as expected but Draghi’s comments were rather dovish and said the Eurozone recovery was fragile and could be hurt by Russia sanctions.

US data continued to print all week on the positive side. Factory orders were stronger than expected at +1.1% m/m in June (consensus was looking for a 0.5% m/m number) driven by a +1.7% m/m increase in durable goods orders, which make up roughly 45% of all orders. Non-durable goods orders were up by 0.6% m/m. July brought a decent increase in the ISM non-manufacturing index which rose to 58.7 in July vs. 56 in June.

The AUD/USDadded 3 points to end the week at 0.9277 after Chinese trade data upset the markets with the trade balance widening as exports soared but imports tumbled. The Aussie was hammered by an unexpected jump in the domestic jobless rate, was down 0.9 per cent to 0.9268 It fell to $0.9263 at one point, its lowest level since early June. The Reserve Bank of Australia kept its cash rate at a record low of 2.5 per cent on Wednesday, but the jobs numbers underlined continuing worries over the economy’s growth prospects after the end of a mining investment boom.

China’s consumer price inflation remained within the government’s comfort zone in July, giving room for the central bank to ease monetary policy further in favor of economic growth. Traders are still trying to understand the huge drop in imports to China as reported Friday in the trade balance. Exports soared while imports tanked.

The USD/JPY climbed as the stronger US dollar pushed the currencypair to 102.69at the end of the week. The Japanese yen (JPY) retains a weak tone against the USD, yet it has gained value versus the EUR. Japanese economic activity will continue to suffer the negative impact from an increase in the consumption tax.


Technical Commentary

AUD/USD - 0.92556

Pivot- 0.9290

Support 0.9235, 0.9200

Resistance- 0.9340 and 0.9355


EUR/USD - 1.3381

Pivot 1.3380

Support- 1.3365, 1.3340

Resistance - 1.3415, 1.3435 and 1.3445


GBP/USD- 1.6783

Pivot- 1.6815

Support- 1.6755, 1.6730

Resistance- 1.6840 and 1.6865



Pivot- 101.90

Support- 101.65 and 101.40

Resistance - 102.25, 102.45 and 102.75