February 24, 2014 – Forex News Hot Asset For Today: EUR/USD The euro ratified daily losses against the greenback on Friday. This was due mainly to the slump in sales of US homes which lead to greater concerns that the severe weather conditions to a certain extent may have hindered the growth of the US […]
February 24, 2014 – Weekly News WEEKLY REPORT 24/02-28/02 EUR/USD Last week the EUR/USD pair slightly increased by 0.6%, however the movement is more consider to be sideways then upwards. The pair kept the whole week its price between support and resistance and despite several important fundamental releases the pair did not move significantly. The […]
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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 […]
Gold futures dived after its three-week peak as a technical gauge waved a reversal and on worries the higher prices will wound physical demand in Asia. Silver, platinum, and palladium dropped. Bullion to be delivered immediately missed 0.4% to $1,318.79 per ounce and was set at $1,321.57 at 10:07 a.m. in Singapore. Prices touched $1,332.45 on February […]
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). […]
Today’s Support and Resistance levels: R3: 1.6725 R2: 1.6673 R1: 1.6624 Current spot: 1.6588 S1: 1.6558 S2: 1.6496 S2: 1.6445 Technical summary: The wave 2 correction we are looking for is still unfolding. In the short term we expect minor resistance at 1.6624 to protect the upside for one more impulsive decline in wave c […]
Today’s Support and Resistance levels: R3: 141.87 R2: 141.29 R1: 141.04 Current spot: 140.69 S1: 140.30 S2: 139.99 S3: 139.59 Technical summary: We are still looking for the ongoing correction to hit resistance at 142.26 to end the X wave that began at 136.23. Once this X wave is finished, we should see renewed downside […]
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 US existing home sales declined 5.1%. It declined sharply in January from December, to 4.62 million units. The sales were down to the lowest level in 18 months. Starting this year, the US economic data were printed below expectations such as jobs data, building permits and other economic indicators. On the other hand, the […]
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 today, investors will keep a close eye on Eurozone consumer prices, […]
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 […]
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 […]
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 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 […]
GOLD: With GOLD maintaining its upside bias, we expect further strength to occur in the new week. However, it will have to retake the 1,332.09/1,328.00 levels to create scope for more upside. Further out, resistance resides at the 1,350.00 level with break of here turning focus to the 1,400.00 level. Additionally, resistance stands at the […]
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 […]
