Easy Forex Daily Forex Report 16-11-2012
November 16, 2012 10:14 amVideo
Latest News
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
Japan Dissolves Parliament, Yen Sold
U.S. Dollar Trading (USD) stocks sank overnight in the US with politicians
bringing attention to the looming fiscal debt crisis bickering over how to
solve the issue. Released FOMC Minutes suggest most members want to continue
asset buying after op-twist finishes. US data missed expectations forecast at
-0.3% vs. -0.2% previously. Looking ahead, Weekly Jobless Claims forecast at 375k vs. 355k
previously. November NY FED forecast at -6.7 vs. -6.16 previously. Also October
CPI forecast at 0.1% vs. 0.6% previously.
The Euro (EUR) EUR/USD was the strongest currency in the market
overnight able to ignore risk aversion from US equities losses. Day highs near
1.2780 traded after the FOMC minutes were released. The USD weakened post
minutes but this didn’t last long however and we selling resumed in Asia
Thursday. EUR/JPY was a major mover higher as the Yen collapsed on political
risks. The Sterling (GBP) was sold as risk aversion crept higher in the US and stock losses
accelerated. UK Data was decent with a 10k unemployment rise in October being
countered by a drop in the Unemployment rate to 7.8% vs. 8.0% previously.
GBP/USD has been making new lower lows this week but is oversold and may bounce
if equities allow. Looking ahead, Q3 German GDP forecast 0.2% vs. 0.3% previously.
October EU CPI forecast at 0.2% vs. 0.7% previously m/m. Also, US October
Retail Sales forecast at 1.7% vs. 2.5% previously.
The Japanese Yen (JPY) USD/JPY broke above Y80 in a dramatic day of trading
after PM Noda moved to dissolve parliament and hold fresh elections. The
political risk and uncertainty going forward could potentially create a situation
for Yen weakness across the board. EUR/JPY and AUD/JPY are both off highs in
Asia Thursday however with risk aversion outweighing the election news. Australian Dollar (AUD)
dropped 100 pips during
the US session on the back of US equities losses and increasing Middle Eastern
tensions. The reversal caught the market off guard with a steady grind higher
in the last few sessions giving bulls into a false sense of security. Support is seen at 1.0350 and a break below would radically change the
technical picture.
Oil & Gold (XAU) Remained stuck inside yesterday’s range unable to break
above resistance at $1733-38 and finding support just above $1720. Safe haven
demand for both the USD and Gold is keeping both steady. OIL/USD bounced back to life with FOMC minutes suggesting
central bank support will continue in 2013 at least. Fresh Middle Eastern
tensions is keeping the sellers skittish. A based formed at $85 and we are now looking
to resistance at $87.
Pairs to watch
OIL/USD Israeli/Gaza
tensions to give temporary boost?
AUD/USD Uptrend under Threat?
TECHNICAL
COMMENTARY
Currency
Sup 2
Sup 1
Spot
Res 1
Res 2
EUR/USD
1.2627
1.2661
1.2735
1.2791
1.2815
USD/JPY
79.39
79.84
80.25
80.41
80.57
GBP/USD
1.5789
1.5826
1.5850
1.5916
1.6000
AUD/USD
1.0326
1.0355
1.0375
1.0393
1.0440
XAU/USD
1711.00
1720
1725
1742
1752
OIL/USD
84.10
85.00
86.30
86.50
87.00
By Anthony Darvall (TonyD)
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
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