Easy Forex Daily Forex Report 04-03-2013
March 4, 2013 10:42 amVideo
Latest News
- Forecast for EUR/USD on April 18, 2024 April 18, 2024
- Forecast for GBP/USD on April 18, 2024 April 18, 2024
- Forecast for AUD/USD on April 18, 2024 April 18, 2024
- Outlook for GBP/USD on April 18. Pound was not impressed by the inflation data April 18, 2024
- Outlook for EUR/USD on April 18. Euro has fallen into a new flat April 18, 2024
- GBP/USD. Correction or trend reversal? April 18, 2024
- The FOMC will not lower rates in 2024 April 18, 2024
- Powell made a bold point, and Bailey did not report anything important April 18, 2024
- Will the euro take a risk? April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 17-19, 2024: sell below $2,400 (21 SMA – double top) April 17, 2024
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
- Analysis for GBP/USD pair on April 17th. British inflation overtakes American inflation April 17, 2024
- USD/JPY: Simple Trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- EUR/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURUSD takes a breather after sharp tumble April 17, 2024
- Market continues to price in a plethora of rate cuts for 2024 – Special Report April 17, 2024
Euros trending as markets expect Italian news
The euro (EUR) dropped to 1.3062 versus the US dollar (USD) as the American economy goes through sequestration and the Italian political scene still remains blurry. Sequestration will involve across the board cuts in the US public sector which will allow the US to run balanced budgets in the future, at the same time Ben Bernanke’s comments in congress confirmed the need for continued QE.
WTI Crude (OIL) dropped to 91.82 as the energy completes a two year pennant formation in which it is now in a downward trend
Gold (XAU) continues its slide touching 1575 before rebounding to 1580 as investors expect a return to growth within 2013
The euro (EUR) lost ground against the sterling (GBP). The single currency remains unstable as long as Italian politics continue being fluid.
Weekly option volatilities for the EURUSD rose slightly from 10.35 to 10.80 as investor’s factor in sequestration effects and option premiums rise.
Stay in tune throughout the day with foreign exchange bullets!
Movers & Shakers
USDJPY
The US dollar (USD) continues to regain lost ground against the Japanese yen (JPY). The new Bank of Japan Governor Haruhiko Kuroda seems to have convinced investors on his determination to reverse Japanese deflation. Currently the pair has support at 91.09 and may look for its previous resistance at 94.83
Outlook
EURUSD Pivot Point 1.3095 with a preference to go SHORT at 1.3095.
Sentiment is 51% of deals to buy EUR
USDJPY Pivot Point 92.40 with a preference to go LONG at 92.40.
Sentiment is 40% of deals to buy EUR
GBPUSD Pivot Point 1.5145 with a preference to go LONG at 1.5145.
Sentiment is 67% of deals to buy GBP
AUDUSD Pivot Point 1.0255 with a preference to go SHORT at 1.0255.
Sentiment is 76% of deals to buy AUD
GOLD Pivot Point 1592 with a preference to go SHORT at 1592.
Sentiment is 68% of deals to buy GOLD
OIL Pivot Point 92.55 with a preference to go SHORT at 92.55.
Sentiment is 70% of deals to buy OIL
US 500 Pivot Point 1497 with a preference to go Long at 1497.
Sentiment is 24% to buy US 500
UK 100 Pivot Point 6275 with a preference to go Long at 6275.
Sentiment is 27% to buy UK 100
Calendar
GBP – UK Manufacturing PMI at 09:30(GMT) Forecast 51.0
CAD – Canadian GDP m/m at 13:30(GMT) Forecast -0.2%
USD – ISM Manufacturing PMI at 15:00(GMT) Forecast 52.7
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