General overview for 07/03/2014 09:00 CET The NFP data is on tap today and currently price is at the key level. As I had mentioned yesterday any breakout to the upside above the grey rectangle area is bullish. Moreover, test of the last swing high at the level of 145.68 will be in view, maybe […]
Overview In H4 chart, the pair is trying to break the Support area consisting of the upward trend line with the Support level of 172.00 to continue its downward trend. In case of the pair bounce from the Support area the Resistance level of 172.75, it would be tested keeping its move above the upward […]
General overview for 07/03/2014 08:30 CET The market made a quite large overthrow in last wave (e) blue of the triangle and hit the 78%Fibo at the level of 1.0968. Currently, the small bounce is developing and any new low would invalidate the triangle wave B green idea. The key level to the upside now […]
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Heightening verbal intervention might be the Reserve Bank of Australia’s only option to limit the Australian dollar as fortifying economic figures and an objective policy stance push the currency toward a three-month gain. The local dollar hit 91.11 U.S. cents, near yesterday’s three-month peak of 91.13, following Governor Glenn Stevens told lawmakers today jawboning has a modest impact […]
Crude-oil futures increased in electronic trade today, adding meekly to their warm gains prior US jobs data due today. Benchmark US crude oil to be delivered in April delivery accrued 34 cents or 0.3%, to $101.90 per barrel, stretching yesterday’s 11-cent gain on the New York Mercantile Exchange. London-traded Brent crude for April rose 31 cents or 0.3%, […]
After making a 2-month high against the dollar at 1.3873, the euro was little changed during the Asian session at 1.3858. The main takeaway from the ECB meeting was the comment of ECB President Mario Draghi that Eurozone economic conditions did not warrant a change in monetary policy. This was despite the economic forecasts of […]
When the European market opens, some economic news will be released such as German WPI m/m, French Gov Budget Balance, French Trade Balance, German Industrial Production m/m. The US will release the economic data too such as the US-Non-Farm Employment Change, US-Trade Balance, US-Unemployment Rate, US-Average Hourly Earnings m/m, US-Consumer Credit m/m, so amid the […]
In Asia, Japan will release the Leading Indicators and the US will release some economic data such as US-Non-Farm Employment Change, US-Trade Balance, US-Unemployment Rate, US-Average Hourly Earnings m/m, US-Consumer Credit m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with medium to high volatility […]
The ADP report out of the US delivered a drastic blow to bullish expectations for a positive NFP report in February. December and January showed the US labor market which is not nearly as strong as many have anticipated. Economists expect that 150,000 jobs were added last month, up from only 113,000 jobs added in […]
Crude oil momentum indicators whipsawed back to the sell side and now with negative divergence. Based on this holding of $105.22, crude should start going down to $86.2 within intermediate supports at 98.5, $95, and $90. In the yesterday’s trading session, crude held the support of 40EMA and flew back to a high, trading above […]
The European Central Bank kept its interest rate on hold. After the decision to keep rates at a record low of 0.25%, Draghi said the bank raised its projection for economic growth to 1.2% in this year from 1.1% and left next year’s unchanged at 1.5%. It introduced a forecast for 2016 at 1.8%. The […]
Most of the US shares advanced on Thursday as the S&P 500 ended at another record high following a better jobless data and European Central Bank’s decision to retain its interest rates. But the sentiment in general was guarded before today’s US nonfarm payrolls report and standoff between Ukraine and Russia. The CBOE Volatility Index, Wall Street’s benchmark […]
The euro glided close to a two-month peak versus the US dollar on Friday after an ease rally when the European Central Bank decided not to change its interest rates. Caution before the closely monitored US nonfarm payrolls due today was seen holding down additional gains. The ECB kept its interest rates on Thursday. In a press conference, […]
The Asian shares escalated as the regional benchmark is prolonging its profits from its highest close in six weeks after US jobless data dropped. Fanuc Corp., a factory-robotics market with 78% of sales overseas, profited 1.4% in Tokyo as exporters ascended. SK C&C Co. leaped 4.1% in Seoul as brokerages amplified share-price estimations on the information technology company. […]
Technical outlook and chart setups: 1. The EUR/JPY pair has rallied and remains just shy of 143.00 levels. Please note that 143.00 is also the 0.618 fibonacci retracement level of the recent down swing from 145.50 to 136.00. It is recommended to remain short, risk remains at 143.00/50. 2. Immediate resistance is the 143.00/50 region, […]
Technical outlook and chart setups: 1. The GBP/CHF pair is again testing 1.4700 levels. It is recommended to remain long for now, risk remains at 1.4600 levels. A successful test of lows here would confirm that the next leg is higher up. 2. Immediate resistance is at 1.4950/60 (intermediary), followed by 1.5120/30, while supports are […]
Daily chart: The USDX has had a strong fall below the resistance level of 80.11, so it is very likely that the USDX to fall to the support level of 79.19 soon. If the USDX manages to consolidate below the 79.55 level, this fall might happen. On the other hand, if the USDX makes a […]
Daily chart: This pair found resistance at the level of 1.6766, but the GBP/USD remains strong in the bullish bias. If the pair manages to consolidate above this level, it would be expected to rise to the resistance level of 1.6851. On the other hand, it is very likely that the GBP/USD makes a corrective […]
Overview: The USD/CAD pair rebounded at the level of 1.0910, and it showed signs of strength following the level of 1.1060. As expected, the resistance was broken and turned to support at the same key level (1.0910). Another thought, the price set above the support seven days ago. Consequently, the pair has already formed a […]
Trading recommendations: According to the preceding events, the GBP/USD pair is going to move between 1.6795 and 1.6730. Sell at the level of 1.6810 with the first target at the 1.6768 price in order to test the minor support, then it will call for downwards pressure in order to continue its bearish movement towards 1.6700 […]
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The AUD/USD pair extended its rally to four days, after Australian retail sales and trade data beat forecasts. The Aussie has been under considerable pressure lately, unable to break the 90 cent plateau. The Australian dollar reacted positively to GDP data, which was released earlier this week. The Australian economy expanded 0.8% in the fourth […]
The USD/CAD was under pressure in the second half of the week, as strong Canadian data reinforced the Bank of Canada’s latest decision to maintain interest rates. As the Canadian economy continues to show signs of progress, the BOC will be less compelled to lower interest rates. Canada’s benchmark lending rate has been pegged at […]
Europe’s top pair soared amid key rate decisions from the European Central Bank and Bank of England. Additionally, positive data from Europe’s largest economy reinforced the view that the Eurozone economy is indeed in recovery mode. The European Central Bank felt no need to adjust its monetary policy, opting instead to hold interest rates at […]
The GBP/USD was unable to sustain its momentum, as investors reacted to an expected decision from the Bank of England. The Monetary Policy Committee opted to maintain the bank rate at 0.5% and the size of the asset purchase facility at 375 billion pounds. Having failed to manage rate hike expectations previously, the BOE shifted […]
The EUR/USD edged higher, as investors reacted to the latest batch of economic data and weighed the European Central Bank’s latest policy decision. German factory orders soared in January, according to the National Statistics Office. Factory orders, which include shipments, inventories and new/unfilled orders, rose 1.2% in January, compared to a 0.2% decline the previous […]
The pair remains in the bearish impulse initiated off its peak price around 1.6820 as long as this highest price doesn’t get broken through. The breakdown of 1.6600 is essential to confirm reversal and trigger a stronger pullback, which will pause the short-term bullish momentum and open the way towards 1.6536 (50% Fibonacci Level of […]
Overview: USD/JPY is expected to consolidate after hitting one-week high at 102.55 on Wednesday. USD/JPY is undermined by the weaker dollar sentiment (ICE spot dollar index last 80.09 versus 80.15 early Wednesday) after worse-than-expected drop in U.S. ISM non-manufacturing PMI to 51.6 in February, the lowest since February 2010 –from 54.0 in January (versus 53.5 […]
Successive ascending bottoms were established on the daily chart. This means the uptrend line established on September 2013 is still intact. The ongoing bullish impulse is probably targeting at 1.3900 corresponding to 100% Fibonacci Expansion as long as the depicted uptrend line remains defended by the bulls. Through the fundamental point of view, The ECB […]
