Technical analysis of EUR/USD for Dec 15, 2017

When the European market opens, some economic data will be released such as Trade Balance. In the US a batch of economic data in due later today such as TIC Long-Term Purchases, Industrial Production m/m, Capacity Utilization Rate, and Empire State Manufacturing Index. So amid the reports, EUR/USD will move with low to medium volatility […]

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Technical analysis of USD/JPY for Dec 15, 2017

In Asia, Japan will release the Tankan Non-Manufacturing Index and Tankan Manufacturing Index. On the US dollar’s front, the US will release a series of economic data such as TIC Long-Term Purchases, Industrial Production m/m, Capacity Utilization Rate, and Empire State Manufacturing Index. So there is a probability the USD/JPY pair will move with low […]

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Markets see no reason to worry

Following the meeting on December 12-13, the AHC Committee on Open Markets (FOMC) hiked, as expected, the federal funds rate by 0.25%, while keeping the forecast for 2018 unchanged. The moderate tone of the accompanying statement led to the fact that players preferred to lock in profits. At a subsequent press conference, Janet Yellen also […]

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BITCOIN Analysis for December 14, 2017

Bitcoin has been quite corrective as expected today and the deepest pullback was down to the $15,500 price area. The market focus seemed to have shifted from Bitcoin to Ethereum as the price of Ethereum has been quite impulsive with the gains recently. The sentiment change means that the price of Bitcoin residing currently was […]

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Fundamental Analysis of USDCHF for December 14, 2017

USD/CHF has been quite volatile recently having impulsive bearish and bullish daily candles. Recently, the Fed Funds Rate report was published, despite the increase in the rate to 1.50% from the previous value of 1.25 as expected, USD lost significant grounds against CHF, which is currently recovering. Today the Libor Rate report was published: it […]

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BoJ tankan survey attracting interest; yen in focus – Forex News Preview

The Bank of Japan’s fourth quarter tankan survey is due at 2350 GMT on Thursday. Big manufacturers’ confidence in business conditions in Japan stood at a decade high in the third quarter, with fourth quarter projections indicating that positive momentum is to be maintained. The Tankan big manufacturers index is expected to come in at […]

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BoE Base Rate Announcement Review

On Wednesday, we listened to Janet Yellen’s final statement as the Fed chair. To many, it was an emotional farewell for a chair who has performed extremely well. Under her tenure, she has brought the unemployment rate to 4.1% – the lowest point in 17 years – and tamed inflation which remains below 2%. She […]

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Technical Analysis – NZDUSD touches 8-week high; moving averages positively aligned

NZDUSD surged more than 1% on Wednesday to hit its highest level since October 20 at 0.7027. The strong up-move happened after a break out of a consolidation phase and has shifted the bias to the upside, though today’s down move is attempting to threaten the positive bias. Short-term trend signals on the 4-hour chart (20 and 50-period moving […]

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Technical Analysis – EURUSD posts neutral to bullish bias in short-term timeframe

EURUSD has a neutral to bullish bias in the very short-term timeframe as it struggled within the 38.2% and the 50.0% Fibonacci retracement levels with high at 1.1960 and low at 1.1716. During yesterday’s trading session, the common currency pair penetrated above the descending trend line that was holding since December 1st, on the 1-hour chart, and hit the 1.1843 […]

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Technical analysis of USD/CHF for December 14, 2017

Overview: Pivot point : 0.9921. The USD/CHF pair didn’t make any significant movements for that the price is still moving around the area of 0.9806 and 0.9921. Besides, it should be noted that the bias remains bullish in the nearest term testing 1.0037 or higher. The USD/CHF pair continues to move upwards from the level […]

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Fed Rate Rise Sees Gold Price Jump $10 as UK and ECB Hold Despite Rising Inflation

GOLD PRICES rose further in London trade Thursday, gaining $20 per ounce from this week’s 5-month lows after the US Federal Reserve raised its key interest rate as expected.   After UK inflation came in at a 6-year high of 3.1%, the Bank of England today voted unanimously to hold its key interest rate at […]

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US Open Preview– Pound slips after BOE meeting; stocks weaker; ECB rate decision ahead

Here are the latest developments in global markets:  FOREX: The pound hit a one-month high at $1.3463 in the wake of better than expected retail sales in November. However, it soon slipped back to 1.3420 after the BOE held rates steady but signaled that GDP growth in Q4 “might be slightly softer than in Q3”. The […]

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Technical analysis of NZD/USD for December 14, 2017

Overview: The NZD/USD pair will continue to rise from the level of 0.6948. The support is found at the level of 0.6948, which represents the 61.8% Fibonacci retracement level in the H1 time frame. The price is likely to form a double bottom. Today, the major support is seen at 0.6948, while immediate resistance is […]

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Global macro overview for 14/12/2017

The Bank of England interest rate decision is scheduled at 12:00 am GMT and market participants expect no change this month (rate should stay at the level of 0.50%). Moreover, the Asset Purchase Facility should remain unchanged as well at the level of 435bln Pound. The November hike by 25 bp was commented as a […]

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Bitcoin analysis for 14/12/2017

Over the past month, Bitcoin’s price has seen phenomenal increases, which was crowned by the Chicago Board Options Exchange (CBOE), which began trading Bitcoin futures on December 10th. At the same time, the price of gold fell. However, according to Jeffrey Currie, Head of Research for Goldman Sachs, the huge increase in Bitcoin prices did […]

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XM Brought Forex Education to Morocco

This winter XM brought forex education to Morocco once again by visiting Marrakesh on 6th December and Tangier on 9th December with the seminar titled Introduction to the Avramis Swing Trading Techniques. The two Moroccan cities were the last two destinations of a long forex trading seminar series started earlier this autumn by XM in […]

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Trading plan for 14/12/2017

The details of the Fed’s hike were interpreted as dovish and the investors’ reluctance towards the US Dollar was dragged to the Asian part of the session. AUD is rallying after another strong report from the labor market. NZD is losing. The stock market is calm with small drops. Nikkei225 lost 0.3% and Hang Seng […]

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Ichimoku indicator analysis of USDX December 14, 2017

The Dollar index has pulled back as expected by our latest analysis back towards 93.30 and cloud support. This is a very important short-term support area. Bears must be careful of a possible bounce higher. The Dollar index is testing the upper Kumo (cloud) boundary support. Between 93.40-93 we have very important support. If it […]

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Santa Rally: With Bitcoin still flying high will Santa bring more gifts?

As I sip my overpriced latte cursing the fact that despite my best attentions I now have jingle bell rock stuck in my head I force my mind to think of other things other than how sick I am of Christmas music already.  Not that I don’t like this time of year, I enjoy it […]

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ECB Meeting Preview

On Thursday, the European Central Bank (ECB) started its final meeting of the year. To them, it will be a celebration after having an excellent year. This year, after years of lagging, the European economy is firing on all cylinders. It has outperformed the U.S. and the U.K. without high inflation. The unemployment rate is […]

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Daily Technical Insight – EUR/GBP: Eyes on ECB and BoE

Yesterday, the EUR/GBP pair started the day heading south. It fell to the 0.8781 level. It then rose to the 0.8812 level. It ended the day higher at the 0.8829 level. This interesting move was attributed to several things. First, the United Kingdom released mixed employment data yesterday. The jobless rate of 4.3% – which […]

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European Open Preview – Jobs report lifts aussie; ECB and BoE eyed

Here are the latest developments in global markets: FOREX: The dollar index was little changed after recording sharp losses the previous day as investors expected a more hawkish rate outlook by the Federal Reserve. The aussie was on a positive footing versus the greenback after better-than-anticipated employment figures. STOCKS: The Nikkei 225 finished lower by […]

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Ichimoku indicator analysis of gold for December 14, 2017

Gold price bounced as expected towards $1,260. We are currently being rejected by the Kumo (cloud) and this is what we initially expected. This could be a nice opportunity to sell Gold for a move down to $1,200. Gold price is trading below the 4-hour Kumo (cloud). Trend remains bearish. This bounce was expected and […]

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Burning Forecast 14/12/2017

Burning Forecast 14/12/2017 EURUSD: A strong buy signal. On Wednesday, the Federal Reserve decided on the rates: The main rate on the dollar was raised +0.25% to the range of 1.00 – 1.50% (as everyone expected). The forecast on US economic growth was raised. The forecast of the Fed – the rate in 2018 will […]

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Technical Analysis – USDJPY under increased downside pressure after drop below 50-day MA

USDJPY has come under increased downside pressure after sharply reversing a recent rally from the 111 to 113 handle. Near-term momentum has stalled as can be seen by the RSI which did not fall to far below the 50 line. USDJPY has consequently stabilized near the mid-112 handle. But additional weakness cannot be ruled out […]

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New forecast of the US Federal Reserve on the US economy

The Fed updated the forecast for the main indicators of the US economy – the forecast for GDP growth in 2017 is 2.4% – 2.5% (previously 2.2% – 2.5%) – the forecast for GDP growth in 2018 is 2.2% – 2.6% (previously 2.0% – 2.3%) – the forecast for GDP growth in 2019 is 1.9% […]

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Dec 14th, 2017: Dollar Dumped on Fed Dissent

Morning Report: 07.00 London This morning, the dollar index remains under pressure after yesterday’s FOMC meeting. As expected, the Fed elected to increase rates to 1.5%, but crucially there were two dissenting votes. This in addition to a softening in some of the commentary and core CPI missing expectations. The dollar pairs are mostly enjoying […]

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No Surprises as Fed Raises Rates

The Federal Reserve, as expected, raised its benchmark interest rate by a quarter of a percentage point, to a range of 1.25% to 1.5%. The latest hike continues the Fed’s gradual move toward higher rates, which were cut to virtually zero during the financial crisis. The latest hike is the 3rd time this year that […]

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Elliott wave analysis of EUR/NZD for December 14, 2017

Wave summary: EUR/NZD continues to push lower as it failed to break back above minor resistance at 1.6969 (the high was seen at 1.6942, which now acts the minor resistance to break). As long as minor resistance at 1.6942 is able to cap the upside as long will the downside pressure remain, with the possibility […]

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