There was little action again in the Asian session. Weak US consumer confidence data offered little encouraging signs for a strong economic outlook in the United States. The Conference Board survey showed consumer confidence in February fell to 78.1 versus 80 forecast and 79.4 previous. Other data showed US home price gains slowed in December. […]
The pair is consolidating in a range between 1.3686 and 1.3773. During the Asia’s trading session, the pair is trading near crucial ascending trend line support zone, breaking below that it will fall to 1.3686. Major weakness on the cards only below that level of 1.3686 towards 1.3653 immediately. Positional shorts will form below 1.365 […]
The pair remains in a downtrend from 0.9082, February 2, 2014 high, and it extended its fall to 0.8853. The pair has been trading in a range of 0.8853-0.8915 for the last 5 trading sessions. Further move will be clearlu detemined only after a breakout to either side. A clear breakout above the channel resistance […]
European markets have opened mostly unchanged today, amid concerns over China’s economy. Closer home, market participants will keep a close eye on the release of GDP data which is expected to show that the UK economy expanded 0.7% in the fourth quarter of 2013, in line with the first estimate and compared to a 0.8% […]
The USD/IDR now have a good strengthened momentum against USD by a few factors such as: 1. Jannet Yallen’s policy on the FED’s Stimulus. 2. The JSX (Jakarta Stock Exchange) rebound causes the capital inflow to Indonesia. As we know, USD/IDR has a positive correlation with the JSX indices which are influenced by the Dow, […]
Gold rallied again on Tuesday’s trading session after The Conference Board Consumer Confidence Index was released. The index, which had increased in January, fell moderately in February. Now it stands at 78.1, down from 79.4. The decline in the Consumer Confidence Index resulted concerns over the short-term outlook for business conditions, which affect hiring and […]
When the European market opens, some economic news will be released such as GfK German Consumer Climate, German 30-y Bond Auction.The US will release the economic data too such as the US-New Home Sales, US-Crude Oil Inventories, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’s TECHNICAL LEVELS: […]
In Asia, Japan will not release any economic data today and the US will release some economic data such as US-New Home Sales, US-Crude Oil Inventories. So there is a big probability the USD/JPY will move with low volatility during this day. TODAY’s TECHNICAL LEVELS: Resistance. 3: 102.87. Resistance. 2: 102.67. Resistance. 1: 102.47. Support. […]
Technical outlook and chart setups: 1. Silver is stalling ahead of $23.00 levels for now. It is quite possible that it pushes through $23.00 levels before producing a meaningful pullback. It is recommended to remain flat for now and await for reaction ahead of $23.00 levels. 2. Immediate resistance is at $23.00, followed by $25.00, […]
Technical outlook and chart setups: 1. Gold is approaching the $1,360.00 levels, indicating that bulls are in control for now. A meaningful retracement can be expected after that. It is recommended to remain flat for now and await for a reaction around $1,355.00/60.00. 2.Immediate resistance is at $1,360.00, followed by $1,380.00 and $1,420.00, while supports […]
Technical outlook and chart setups: 1. The EUR/JPY is stalling at 140.00 levels, which is also the fibonacci 0.50 resistance of fall from 145.50 to 136.00. It is recommended to remain short for now and also look to add further. Risk remains at 143.00. 2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, […]
Technical outlook and chart setups: 1. The GBP/CHF pair has remained unchanged from yesterday. The pair is showing resilience ahead of 1.4700 levels. It is quite possible that the next move may be higher, hence recommendations are to initiate long positions, risk is at 1.4600. 2. Immediate support is at 1.4550, followed by 1.4350, 1.4200 […]
Daily chart: The USDX had another fall which failed to make a breakout below the support level of 80.11, so the USDX remains above that level. This level could be very strong and the USDX could perform a bullish rebound at current levels. However, if the USDX manages to consolidate below the 79.90 level, it […]
Daily chart: The GBP/USD has positioned above the support level of 1.6663, but this move could be the continuation of the formation of a higher low pattern. However, remember that this pair has been in a strong bullish bais in recent weeks, so caution should be used when placing sell orders, as the overall outlook […]
Trading recommendations: According to the previous events, the GBP/USD pair is going to move between the level of 1.6635 and 1.6717. The resistance is set at the level of 1.6754. Consequently, the market will indicate a bearish opportunity below 1.6760, because the level of 1.6754 is going to act as strong resistance February 26, 2014. […]
Daily pivot point: 0.8870 Overview: The price of USD/CHF pair has set above the level of 0.8003 (00% of Fibonacci retracement levels in H4 chart). Furthermore, this level is coinciding with the double bottom. Additionally, the pair has already formed a strong support at the 0.8003 price and it is now approaching it in order […]
February 25, 2014 – Indices News The Asian session was trading mixed today as stocks were still reacting to yesterday’s key data. The equity market initially started of increasing as traders turned to stocks after having seen the US indices finish higher yesterday. In addition traders also turned to shares as the USD rallied against […]
February 25, 2014 – Commodities News Gold fell earlier today after the Chinese yuan experienced its largest decline in three years. As the world’s second largest economy is responsible for most of the demand for physical gold, any worries in the Middle Kingdom hurt the yellow metal’s prospects. However, since then, gold has been rising […]
CRUDE OIL: With failed bull pressure seeing Crude Oil selling off during Thursday’s trading session, further weakness could still be developing. However, as long as it can hold above the 101.37 level, its Feb 12 2014 high, a return to the upside is likely. Further out, resistance comes in at 103.50 level, its psycho level […]
The EUR/GBP edged lower, falling from the previous day’s highs after the British Bankers’ Association reported strong mortgage approval data. The British pound took a hit last week after the UK Office for National Statistics said unemployment rose 0.1 percentage point to 7.2% in the three months through December. In total, 50,000 mortgages were approved […]
The EUR/USD rebounded after official data confirmed that Germany’s economy expanded 0.4% in the fourth quarter, in line with the initial estimate. As the backbone of the Eurozone economy, Germany is considered by many to be the key gauge of the currency region. Germany’s economy expanded 1.3% annually in the fourth quarter, in line with […]
February 25, 2014 – Stock Market News Today’s Hot Asset –EBay Stocks in Asia traded sharply higher during the early trading session today. Investors within Asia were given a much needed boost of confidence following a strong performance by stocks within the U.S. overnight. This created lots of good call positions for binary options traders […]
As part of our Corporate Social Responsibility, XM has officially become a UNICEF Champion for Children. We have enrolled to make monthly contributions to facilitate the efforts of UNICEF in supporting the poorest and most vulnerable children in the Philippines and around the world. If you would also like to become a Unicef Donor you […]
Overview: USD/JPY is expected to trade in lower range. It is underpinned by the yen-funded carry trades amid positive investor risk sentiment (VIX fear gauge eased 3.07% to 14.23, S&P 500 hit all-time high of 1858.71 overnight before closing up 0.62% at 1847.61) on encouraging economic news out from Europe, while drop in Chicago Fed […]
Overview: USD/CHF is expected to consolidate after hitting near-two-month low 0f 0.8851 on Monday. It is undermined by the weaker U.S. dollar sentiment and franc demand on buoyant CHF/JPY cross. But USD/CHF downside is limited by the franc sales on rising EUR/CHF cross. Daily chart is still negative-biased as MACD is bearish, stochastics stays suppressed […]
Overview: GBP/JPY is expected to trade in higher range. It is supported by the positive risk appetite and demand from the Japanese importers and loose BOJ monetary policy. But GBP/JPY gains are tempered by the Japanese exports sales. Daily chart is positive-biased as MACD is bullish, stochastics stays elevated at overbought zone, 5-day moving average […]
Overview: NZD/USD is expected to trade in higher range. It is supported by the kiwi demand on NZD/JPY cross amid reduced risk aversion, buoyant commodity prices, hawkish Reserve Bank of New Zealand’s monetary policy stance and weaker dollar sentiment. But NZD/USD gains are tempered by the concerns over economic slowdown in China. Daily chart is […]
Following a challenging January, the US stock index benchmark, the S&P 500 was down 5.7% year-to-date at the beginning of February – its first 5% correction since June of 2013. Since the February 3 low, it has rallied sharply, to make a fresh intraday high of 1858. The index was up 30% during 2013; its […]
Even though it’s impossible to predict the future, we can certainly say that if technology continues progressing at its current pace then we are about to witness some astonishing innovations. The pace of technological growth was forecasted by one of Intel’s co-founders, today we know it as Moore’s Law which states… “The number of transistors incorporated in a chip will approximately double every […]
News flow was limited in the Asian and European sessions today resulting in subdued trading with most currency pairs contained in ranges. Dollar weakness prevailed across the board as weak US data yesterday continued to weigh on sentiment for the US currency. The best performer was the sterling after Bank of England MPC member Ian […]
