The Masters of the Universe immortalized by Tom Wolfe in his 1987 novel “The Bonfire of the Vanities” are feeling like mere mortals. The Wall Street banks known as main dealers because they get to exchange with the Federal Reserve and provides the money that the U.S. government needs to manage are concerned that they […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading upwards like we expected, the price tested the level of 1.6620. Our previous analysis is still active. We saw selling climax at the price of 1.6517, so selling looks risky. Our upper station is still valid, so major upper station is a level around […]
The Dollar index has reached our upward target of 80.40 and reversed. Resistance at 80.40 proved strong for bulls and prices got rejected and the trend reversed downwards once again. Short-term support is found at 80 where the previous bounce started. Short-term resistance is found at 80.35-40. The current upward bounce could have completed the […]
Mobile trading hasn’t been around for very long, but for many of us it has already become an inextricable part of the investment experience. Anyone who’s ever stepped away from the computer with an open position in a volatile market can tell you that the levels of stress you experience in those moments are almost […]
Markets slip on Chinese lending slowdown fears Morning Report: 08.45 London • This morning, financial markets have a slight negative edge on fears that Chinese banks are pulling back lending to the real estate sector. The S&P 500 is caught in a trading range, not helped by ongoing uncertainty in Ukraine. • On FX markets, the […]
February 24th 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened lower today, tracking losses in major Asian markets and on Wall Street. Meanwhile, ECB president Mario Draghi reiterated the central bank’s willingness to introduce further stimulus if Eurozone’s inflation outlook worsens. With no release of major domestic economic data during […]
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Natural gas futures leaped to the highest price in five years, as forecasters cautioned of more chilling US weather. Hedge funds raised bullish stakes on the heating fuel as inventories plunged to the lowest in a decade. Natural gas to be delivered in March profited 5.6% to $6.478 per million British thermal units in electronic trading on the […]
The euro held stable versus the dollar on Monday, holding its gains it made last week as political restlessness in Ukraine showed clues of subsiding for the time being. After a week of battling in the streets of the capital, Ukraine’s parliament agreed on Saturday to oust President Viktor Yanukovich and also release his arch-nemesis, former prime […]
Asian shares plunged following the benchmark regional index reported two straight weekly gains, as Group of 20 finance heads backed obliging monetary policy and China’s central bank signaled country’s economy can uphold growth of 7% to 8%. The MSCI Asia Pacific Index missed 0.1% to 137.30 as of 9:03 a.m. in Tokyo, before Hong Kong and China markets […]
Bullish sentiment on gold has returned after prices crossed back above the key 1300 level on February 14. The market remains above the 200-day moving average which is acting as an important support level around the 50% Fibonacci retracement level (1307.40) of the move from the August high (1433.51) down to the December low (1182.16). […]
The trading week started slow with most currency pairs stuck in ranges. The G20 meetings over the weekend had nothing major that would impact currency markets. The main theme of the meeting was to increase global growth. Asian equity markets declined, led by the fall in China’s stocks due to some negative news regarding China’s […]
The pair is trading at the level of $102.66 in Asia’s trading session. In the hourly chart, the pair is trading above 21 and 40DEMA levels. Yesterday’s high at the level of 102.83 is the crucial resistance. The area of 101.67-101.39 is the support zone. In the daily chart, the pair is trading in a […]
When the European market opens, some economic news will be released such as the German Ifo Business Climate, CPI y/y, Core CPI y/y, Belgian NBB Business Climate.The US will release the US-Flash Services PMI, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: […]
USD/CHF is trading at the level of 0.8873. The pair has been trying hard to break the 38.2% retracement level for the last couple of years. Its breakout from a wedge sign a good upmove coming in the future. We recommend buying USD/CHF in three parts. Cmp at 0.8860-0.8830 with sl at 0.8800. RSI stood […]
In Asia, Japan will not release any economic data’s for today and the US will release the US-Flash Services PMI. So there is a big probability the USD/JPY will move with low volatility during this day. TODAY’s TECHNICAL LEVELS: Resistance. 3: 102.98. Resistance. 2: 102.78. Resistance. 1: 102.58. Support. 1: 102.33. Support. 2: 102.13. Support. […]
EUR/USD: This pair is expected to go further upwards this week reaching the target at the resistance line of 1.3800. The support line at 1.3700 should be a good barrier for the bears. With an increase in the buying pressure in this market, the price should be propelled towards the aforementioned target. USD/CHF: One thing […]
Daily chart: The GBP/USD had a very sharp drop below the resistance level of 1.6663 and the next target for the pair would be the support level of 1.6540. This could be a change in the trend in this chart, since the GBP/USD has formed a bullish candlestick, so is likely to continue falling this […]
Weekly technical levels the GBP/USD pair. Trading recommendations: As it is known, sellers are asking for a high price as well as buyers are bidding at a lower price. Therefore, the first key level will set at the level of 1.6755 and the second key level will set at the 1.6545 level on February 24, 2014. Equally […]
Daily chart: The USDX remains above the support level of 80.11 and still remains in a bearish position in this chart, as the USDX could be forming a higher low pattern. However, if the USDX makes a bullish rebound, it is expected to rise to the resistance level of 80.62. Furthermore, if USDX is able […]
Weekly technical levels the EUR/USD pair. Pivot point among resistances and supports. If the price is at pivot point (1.3732), watch for a move back to resistance 1 (1,3778) or support 1 (1.3691). If the price is at resistance 1 (1.3778), expect a move to resistance 2 (1.3819) or back towards the pivot point (1.3732). […]
The GBP/USD pair established a recent demand level around the price level of 1.6250 where a prominent bottom was established on February 5. A strong bullish impulse was expressed shortly after opening the way towards 1.6575 then 1.6666. Both resistance levels have been broken through. Recently, the bulls failed to fix above 1.6800 which is […]
On the daily chart we can see that the bulls found enough demand around 1.3570 to push again towards 1.3680-1.3700 for another retesting. A prominent top was established around the same price zone on January 24. However, this time the bulls managed to breakthrough above 1.3700 and a bottom is probably being established around this […]
EURUSD: With EUR maintaining its bullish bias, further gain is envisaged in the new week. Resistance resides at the 1.3800 level where a violation will turn attention to the 1.3850 level and then the 1.3900 level, its psycho level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, to annul its past […]
USDCHF: With a third-week of decline as occurring the past week, further weakness is likely towards the 0.8798 level, its Dec 27 2013 low. Further down, support lies at the 0.8750 level with a cut through here paving the way for a run at the 0.8700 level, its big psycho level. Below here if seen […]
The EUR/GBP was higher in Europe after the Office for National Statistics reported weaker than forecast UK retail sales. The pair, however, consolidated lower ahead of the North American session, as market sentiment continued to support the British pound. The pound was unable to test new highs this week after employment data failed to live […]
The GBP/USD was higher at the end of the week, despite a series of disappointing releases from the UK Office for National Statistics. With recent data showing the US economy turned a corner in February after a severe winter, the GBP/USD could find itself in reversal mode next week. UK retail trade in January fell […]
The USD/CAD pair continued to pull ahead at the end of the week, testing new highs amid a string of mixed Canadian data. Weaker than forecast Canadian retail sales outweighed faster inflation growth, a sign investors have all but abandoned hope in the loonie. The USD/CAD pair approached 1.12 in Europe before consolidating in the […]
Overview: USD/JPY is expected to trade in a higher range. It is underpinned by the positive dollar sentiment (ICE spot dollar index is 80.28 versus 80.18 early Thursday) and the yen-funded carry trades amid improved investors’ risk appetite (VIX fear gauge eased 4.58% to 14.79; S&P rose 0.6% overnight) on rise in the Markit U.S. […]
Overview: USD/CHF is expected to trade with risks skewed higher. It is underpinned by the positive dollar sentiment. But the USD/CHF gains are tempered by the franc demand on the soft EUR/CHF cross and on the buoyant CHF/JPY cross and positions adjustment before weekend. Daily chart is mixed as MACD is bearish, five- and 15-day […]
