Easy Forex Daily Forex Report 28-03-2013
March 28, 2013 11:13 amVideo
Latest News
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- EUR/USD: trading tips for beginners for European session on May 2 May 2, 2024
- Market Comment – Dollar slides as Powell rules out rate hikes May 2, 2024
- RBA decision: will a rate hike be back on the table? – Preview May 2, 2024
- Video market update for May 02, 2024 May 2, 2024
- Technical Analysis – Bullish pressure in AUDUSD lingers May 2, 2024
- Key events on May 2: fundamental analysis for beginners May 2, 2024
- Trading plan for GBP/USD on May 2. Simple tips for beginners May 2, 2024
- Trading plan for EUR/USD on May 2. Simple tips for beginners May 2, 2024
- Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Thursday May 02 2024. May 2, 2024
- Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday May 02 2024. May 2, 2024
- Forecast for EUR/USD on May 2, 2024 May 2, 2024
- Forecast for GBP/USD on May 2, 2024 May 2, 2024
- Forecast for AUD/USD on May 2, 2024 May 2, 2024
- Bank of Japan is trapped and increasingly dependent on the Fed’s stance. Overview of USD/JPY May 2, 2024
- Trading Signals for GOLD (XAU/USD) for May 1-2, 2024: buy above $2,290 (21 SMA – 4/8 Murray) May 1, 2024
- Technical Analysis – US 500 index might hit lower levels after Tuesday’s slump May 1, 2024
- Technical Analysis – NZDUSD falls back towards 5-month low May 1, 2024
- Technical Analysis – USDJPY erases losses, but risks remain May 1, 2024
- Video market update for May 01, 2024 May 1, 2024
Who will be Cyprussed next?
The euro (EUR) dropped sharply against the US dollar (USD) before recovering somewhat. The pair touched a six month low at 1.2750 before correcting slightly to 1.2790. The single currency is seen tumbling almost daily the past two weeks as investors are looking at which will be the next Eurozone country to be Cyprussed. The list is long, starting with Slovenia, which has an overblown financial sector relative to GDP to Spain, whose banks have already been bailed out; but for how long? As a hit to depositors is seen as the norm by European policy makers, keep an eye out for any slow growth, high debt country which could be next in line.
Gold (XAU)gained inversely against the fall of major currencies including the US dollar (USD) and the euro (EUR). The precious metal touched 1607 before correcting to 1604.
The US 500 (SPI) has shown signs of fatigue as the index moved lower, touching 1549. From a technical standpoint, the largest US stock index looks to be within a pennant formation which may push it to higher highs in the coming days.
Weekly option volatilities for the EURUSD picked up at 10.35 from 9.25 yesterday. This shows that markets’ fears re-emerge and push options’ premiums higher.
Stay in tune throughout the day with foreign exchange bullets !
Movers & Shakers
GBPUSD
The British Pound (GBP) has been gaining ground versus the US dollar (USD) moving from 1.5090 to 1.5150 in latest trading. The sterling has lost substantial ground since monetary expansion was incorporated into sterling pricing. However as money leaves troubled Eurozone economies in search of safe havens to park their cash, the sterling looks like the attractive destination. Look out for a reversal in the trend.
Outlook
EURUSD Pivot Point 1.2830 with a preference to go SHORT at 1.2830.
Sentiment is 41% of deals to buy EUR
USDJPY Pivot Point 94.50 with a preference to go SHORT at 94.50.
Sentiment is 42% of deals to buy USD
GBPUSD Pivot Point 1.5090 with a preference to go SHORT at 1.5090.
Sentiment is 63% of deals to buy GBP
AUDUSD Pivot Point 1.0465 with a preference to go SHORT at 1.0465.
Sentiment is 59% of deals to buy AUD
GOLD Pivot Point 1590 with a preference to go LONG at 1590.
Sentiment is 71% of deals to buy GOLD
OIL Pivot Point 94.85 with a preference to go LONG at 94.85.
Sentiment is 78% of deals to buy OIL
US 500 Pivot Point 1540 with a preference to go LONG at 1540.
Sentiment is 20% to buy US 500
UK 100 Pivot Point 6270 with a preference to go LONG at 6270.
Sentiment is 17% to buy UK 100
Calendar
EUR – German Unemployment Change at 08:45(GMT) Forecast -2K
CAD – Canadian GDP m/m at 12:30(GMT) Forecast 0.1%
USD – US Unemployment Claims at 12:30(GMT) Forecast 340K
SPECIAL NOTE
Opening and Closing times of Products for Good Friday and Easter Monday 29 th March 2013 – 1 st April (Times in GMT)
FOREX – Regular Trading
GOLD – Thursday 22:00 (Close) & Sunday 22:15 (Re-Open)
SILVER – Thursday 22:00 (Close) & Sunday 22:15 (Re-Open)
CRUDE OIL (WTI) – Thursday 20:00 (Close) & Monday 01:00 (Re-Open)
GASOIL – Thursday 21:00 (Close) & Tuesday 01:00 (Re-Open)
CRUDE OIL (BRENT) – Thursday 21:00 (Close) & Tuesday 01:00 (Re-Open)
HEATING OIL – Thursday 20:00 (Close) & Monday 01:00 (Re-Open)
USTECH – Thursday 20:15 (Close) & Sunday 22:00 (Re-Open)
US500 – Thursday 20:15 (Close) & Sunday 22:00 (Re-Open)
GER30 – Thursday 21:00 (Close) & Tuesday 06:00 (Re-Open)
UK100 – Thursday 21:00 (Close) & Tuesday 07:00 (Re-Open)
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
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