Natural gas advanced on Friday, heading to a win for the week after a bigger decline in supplies of the commodity. In electronic trade, natural gas in March accrued 7 cents or 1.3%, to $5.29 per million British thermal units. That prolonged the 40-cent rally or 8.3% on last Thursday’s regular session in the New York Mercantile Exchange. The […]
General overview for 14/02/2014 08:35 CET Five impulsive waves to the downside has been finished and now the market is in corrective cycle wave (iv) blue. The most important intraday level for bears is the area between the levels of 1.1026 – 1.1042. It will act as a strong resistance together with golden trend line. […]
EUR/USD: The loss in the price has been recovered and the price is now going further northwards. This pair is nosing towards the resistance line at 1.3700 – an easy target in the chart. The new target for the bulls would be the resistance line at 1.3750, after the 1.3700 line is broken to the […]
USD/CAD Elliott Wave For the last few days, the USD/CAD pair has been trading downwards, since our invalidation is reached we have moved our wave count to alternate scenario. In the 1-hour chart of the USD/CAD pair, we can see that we are tracking descending movement from the 1.1222 level as the double three correction […]
General overview for 14/02/2014 08:15 CET The corrective cycle is getting more complex and each wave inside the price range between the levels of 138.66 – 140.05 is starting to look like a triangle formation. Because there is one more wave to the downside needed in order to complete the corrective cycle, lower prices are […]
February 14, 2014 – Forex News Hot asset for today: EUR/USD The EUR/USD pair jumped up to 1.3685 after the ECB Monthly Report was released yesterday at 9.00AM (GMT). The Report pointed on upward impact on annual inflation. The pair remained high after the U.S. Retail Sales showed lower-than-expected figures and hurt the U.S. Dollar. […]
AUD/USD Elliott Wave Since our last analysis, the AUD/USD pair has been trading downwards, impulsive wave [i] (coloured black) of the bigger wave A (coloured blue) has been developing. In the 1-hour chart, we can see that a cycle from the 0.8658 level has already shown us five waves higher, and this just confirms that […]
Weak US data kept the dollar under pressure, pushing it to three-week lows against the euro. Meanwhile, inflation data from China also led to some caution in the markets, resulting in safe haven demand for the yen. US retail sales numbers in January missed forecasts while weekly jobless claims rose last week. Chinese consumer inflation […]
February 14, 2014 – Stock Market News Today’s Hot Asset – Boeing Stocks in Asia traded mostly higher during today’s early trading session. This movement happened following the release of positive Chinese inflation data. Stocks in Japan traded in the opposite direction today, as investors within the region were cautious regarding upcoming U.S. data. Stocks […]
Forex trading resulted in the GBP/USD pair experiencing its largest increase in three months on Feb. 12, as global market participants were impacted by the recent statements made by officials representing the central banks of both the U.S. and also the U.K. The GBP/USD rose to as much as 1.6581 during the day in London, […]
European stocks ease a tad from the open although German and Italian equities register gains; US stock futures are currently softer; gold is up around 8 bucks whilst core governments bonds decline on the mild risk-on tone. In forex markets, USD and yen both register gains and euro in decent shape too. Overnight, Asian markets […]
The Australian dollar has snapped back, following a weak US economic data that lifted hopes the US Federal Reserve might not increase the tapering of its bond-buying program any time soon. The currency gained 0.3% to 90.03 US cents as of 1:58 p.m. (Australian time), set for a 0.5% gain this week. It incurred 0.3% to NZ$1.0793, after […]
The US dollar surged for its weekly slip against a basket of its major peers before data today might show the industrial production gains eased, while consumer sentiment diminished. The euro was close to a two-week peak before report today might reflect the region’s economy improved during the last quarter of 2013 for three consecutive periods. The yen […]
US stocks recouped its momentum in Thursday’s trading, while the Nasdaq climbed for six consecutive trading days, as investors looked at weak economic data on consumer spending, attributing the weakness up to weather and not on weaker fundamentals. The Nasdaq climbed around 5.7% over the last six sessions, its most six-day advance since December 2011. Both the Dow […]
European markets have opened mostly higher today, following better-than-expected GDP data from Germany and France, and ahead of Eurozone GDP and US consumer sentiment data due later in the day. Closer home, investors will keep a close eye on data which is expected to show that the seasonally adjusted construction output in the UK rose […]
The US retail sales data softened the US dollar and made green ticks in gold. Gold made a high at the level of $1,302.70 yesterday. This year gold started in a good mood reaching a 3-month high. The rally we have seen so far came from short covering. In Asia’s trading session just now gold […]
When the European market opens, some economic news will be released such as French Prelim GDP q/q, German Prelim GDP q/q, French Prelim Non-Farm Payrolls q/q, Italian Prelim GDP q/q, Flash GDP q/q, Trade Balance. The US will release the economic data too such as the US-Import Prices m/m, US-Capacity Utilization Rate, US-Industrial Production m/m, […]
In Asia, Japan will not release any economic data’s for today and the US will release some economic data such as US-Import Prices m/m, US-Capacity Utilization Rate, US-Industrial Production m/m, US-Prelim UoM Consumer Sentiment, US-Prelim UoM Inflation Expectations. So there is a big probability the USD/JPY will move with low volatility during the Asian session, […]
Silver closed above the failing channel for the first time joining the breakout made by gold. In our previous report dated February 07, 2014, we recommended buying. Silver traveled with us. However, it’s been in a flat rectangle trading range for some time and a move above $20.4 would break the range to the upper […]
The US retail sales fell 0.4% in January, while it was expected the sales to hold steady. USD had mixed results against other currency pairs this week. Last week, the non-farm payroll data did not encourage the US dollar to move higher. The dollar index is still forming a triangle coming back to the lower […]
Daily chart: The USDX fell significantly below the level of 80.62, having formed a higher low pattern. Now, the next target for the USDX is the support level of 80.11. However, one would expect that the USDX will start forming another bearish pattern to continue falling. The USDX is very strong in its bearish bias, […]
Daily chart: GBP/USD continues to rise above the support level of 1.6540, heading towards the resistance level of 1.6663. If the pair manages to break that level, it is expected to rise to the resistance level of 1.6851. On the other hand, it is expected to fall to the level of 1.6540 if the pair […]
After declining 100 pips, the EUR/GBP pair began its long road to recovery. The EUR/GBP was back in the driver’s seat after Germany posted in-line consumer inflation data. Consumer inflation in Europe’s largest economy declined 0.6% in January, in-line with forecasts. Compared to year-ago levels, consumer inflation in Germany was up 1.2%, also in-line with […]
The EUR/USD rebounded sharply one day after falling to multi-week lows. The pair was supported after German consumer inflation data met expectations. Although Eurozone inflation is expected to remain subdued, analysts forecast a strong rebound for the Eurozone economy in 2014, according to the European Central Bank’s quarterly survey. Germany’s Consumer Price Index declined 0.6% […]
The USD/CAD was back above 1.10, after declining in three of the past four sessions. The pair has been under pressure due to weaker than forecast US nonfarm payrolls data, which threatened to undermine the Federal Reserve’s bond tapering program. With Janet Yellen confirming that the Fed will continue with the gradual tapering process, the […]
CRUDE OIL: The With corrective pullback fading, a return to the 101.37 level. It will have break above here to convince the market of further upside. Above here will pave the way for a run at the 101.50 level where a violation will aim at the 102.00 level, its psycho level and then the 102.50 […]
A considerable support was provided around 1.6250. This price level corresponds to the previous multiple tops as well as recent bottom established around 1.6250. The 4H chart reveals an inverted bullish Head and Shoulders pattern which was expressed around 1.6220 aiming at a 1.6470-1.6500 “previous prominent resistance zone”. Four-hour breakthrough above the price zone of […]
The nearest SUPPLY zone is located between 1.3680 – 1.3730 which corresponds to the price zone between 50% and 61.8% Fibonacci levels. On Tuesday, the pair expressed an Inverted Hammer daily candlestick while retesting 1.3680 (50% Fibonacci). Fundamentally, industrial production in the euro area witnessed an unexpected decline of 0.7% on a monthly basis in […]
From fundamental standpoint, positive news came from the Bank of England Monetary Policy Committee which expects the unemployment rate to reach 7% by the first quarter of 2014. This accelerated the current bullish impulse towards 1.6570 then 1.6666, according to the fundamental data released yesterday. Today, the GBP/USD bulls managed to breach the previously established […]
Overview: GBP/JPY is expected to trade in higher range. It is undermined by diminished investor risk appetite, Japan’s export sales and weak euro sentiment. But GBP/JPY losses are tempered by the demand from Japan’s importers. Daily chart is still positive-biased as MACD and stochastics is in bullish mode, five-day moving average is above 15-day MA […]
