Easy Forex Daily Forex Report 10-05-2013
May 10, 2013 1:15 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
Gold on bearish outlook
The euro (EUR) continues to slide against the US dollar (USD) as the pair trades at just above 1.3080. The single currency has found strong resistance at 1.3140 after it had risen from a 6 month low. The pair is heavily influenced by fundamentals such as the Cyprus bailout which has set forth a new agenda for managing country’s in debt.
Gold (XAU) dropped a whole 150 dollars per troy ounce since Friday as the market re-evaluates its value. The yellow metal is now trading just above 1447 after news that the Central Bank of Cyprus may sell a large amount of its gold as part of a bailout deal with international lenders; such moves are incorporated in pricing in any possible effects of a Portuguese or Spanish bailout.
The US dollar (USD) is losing against a strengthening Japanese yen (JPY) as the US treasury urged Japan to refrain competitive devaluation. The pair, currently at 98.02 is expected by any analysts to strengthen further as Japan goes ahead with monetary easing.
Weekly option volatilities for the EURUSD have dropped to 8.00 as fear leaves the market amid thin news and option premiums edge lower. A good opportunity to bet on the market moving sideways.
Stay in tune throughout the day with foreign exchange bullets !
Movers & Shakers
USDCAD
The US dollar (USD) spiked up in yesterday’s opening against the Canadian dollar (CAD) moving above 1.0190 from 1.0135 on Friday’s close. The pair, which is on a bearish trend for the past month, does not miss a chance to give traders another chance to enter.
Outlook
EURUSD Pivot Point 1.3070 with a preference to go LONG at 1.3070.
Sentiment is 40% of deals to buy EUR
USDJPY Pivot Point 98.85 with a preference to go SHORT at 98.85.
Sentiment is 43% of deals to buy USD
GBPUSD Pivot Point 1.5385 with a preference to go SHORT at 1.5385.
Sentiment is 59% of deals to buy GBP
AUDUSD Pivot Point 1.0475 with a preference to go SHORT at 1.0475.
Sentiment is 51% of deals to buy AUD
GOLD Pivot Point 1495 with a preference to go SHORT at 1495.
Sentiment is 66% of deals to buy GOLD
OIL Pivot Point 91.30 with a preference to go SHORT at 91.30.
Sentiment is 50% of deals to buy OIL
US 500 Pivot Point 1530 with a preference to go LONG at 1530.
Sentiment is 12% to buy US 500
UK 100 Pivot Point 6373 with a preference to go SHORT at 6373.
Sentiment is 37% to buy UK 100
Calendar
EUR – Trade Balance at 09:00 (GMT) Forecast 9.9B
USD – Empire State Manufacturing at 12:30(GMT) Forecast 7.2
USD – TIC Long Term Purchases at 13:00(GMT) Forecast 41.3B
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