OctaFX_Farid Posted June 4, 2013 Author Report Share Posted June 4, 2013 EUR/CHF muted at 1.2400 FXstreet.com (London) - Surprisingly, the EUR/CHF has remained onto the 1.2400 handle since the release of EMU Producer Price Index (YoY) that arrived in at -0.2% in April, vs. expectations of +0.3%. Analysts teams at ANZ said that the “…bias since late-2012 has been for an eventual break through 1.2650 (38.2% of the fall from 2007’s 1.6830 high) for a range flip towards the next retracement and so a target zone of 1.3260-1.3450. However, failure to breach 1.2650 and sliding back into the 1.2350-1.2450 area is unwinding upside potential. A sharp move above 1.2550 is needed to avoid a return to dull range trading”. Support is seen at 1.2380 ahead of 1.2350 with the ECB on Thursday as the main event in focus for the pair this week. USD/CHF continues to be offered weighing on the cross. In the opinion of Commerzbank, the USD/CHF’s correction lower has extended lower towards the 200 day ma at 0.9358, the intraday charts have turned more negative and at this stage they are unable to rule out further weakness to the 0.9324 2013 uptrend, which they look to ideally hold. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 4, 2013 OctaFX.Com News Updates Flash: UK Construction PMI offered upside surprise – Brown Brothers Harriam FXstreet.com (London) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that the UK construction PMI offered an upside surprise, following yesterday's better than expected manufacturing PMI. “We are struck by the rebound that has been recorded since the 46.8 reading in February (to 50.8 in May). On top of that the BRC sales figures (1.8% in May vs. consensus of 1.3%) suggest that perhaps the CBI distributive trades survey was too pessimistic. Sterling is trading with a heavier bias, straddling the $1.53 level through the London morning”. He went onto say that the 5-day moving average is crossing above the 20-day average for the first time since mid-May, a constructive technical development and provided the $.5240 area holds, sterling can retest the $1.5400 area. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 4, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 5, 2013 Author Report Share Posted June 5, 2013 NZD/USD dips further, around 0.7945/50 FXstreet.com (Barcelona) - The kiwi dollar is giving back its weekly gains so far, now hovering over the mid 079s after hitting highs above 0.8060 overnight. According to I.Spivak, Currency Strategist at DailyFX, “Prices put in a Bullish Engulfing candlestick patter above major support at a rising trend line set from June 2009, hinting a move higher is ahead. Initial resistance is at 0.8112, the 23.6% Fibonacci retracement. A break above that targets the 38.2% level at 0.8219. Trend line support is now at 0.7893”. The NZD/USD is now retreating 0.90% at 0.7946 facing the immediate support at 0.7937 (low May 31) ahead of 0.7922 (61.8% of 0.7456-0.8670) and finally 0.7915 (low Sep.5 2012). On the flip side, a surpass of 0.8061 (high Jun.5) would open the door to 0.8072 (MA10d) en route to 0.8111 (23.6% of 0.8676-0.7937). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 5, 2013 OctaFX.Com News Updates USD/CHF hits 1-month low FXstreet.com (Córdoba) - The US dollar fell to a fresh 1-month low versus the Swiss franc following mixed economic data for the US. USD/CHF initially found support at the 0.9420 area but recently broke below that level and stretched to its lowest since May 9 at 0.9410. However, the pair has managed to bounce from lows and it is currently trading around 0.9435, still down 0.3% on the day. In terms of technical levels, immediate supports could be faced at 0.9410 (daily low) and 0.9390 (100-day SMA), while resistances are now seen at 0.9490/95 (daily highs) and 0.9520 (100-hour SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 5, 2013 OctaFX.Com News Updates EUR/GBP falls back below 0.8500 FXstreet.com (San Francisco) - After bouncing at 0.8495, the EUR/GBP's recovery was capped at 0.8525 with the pair trading back to previous lows. Currently the pair is trading at 0.8500. The EUR/GBP is 0.48% negative on the day right now. Short term perspective is strongly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish. As for technical levels, immediate resistances are seen at 0.8525 (intraday level) and 0.8545 (daily high), while supports could be found at 0.8495 (daily low) and 0.8475 (May 14 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 5, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 6, 2013 Author Report Share Posted June 6, 2013 USD/CAD recovers the level of 1.0324/30 FXstreet.com (Barcelona) - The USD/CAD exchange rate recovered the mark of 1.0324/30 after the release of US data Thursday. In the United States, Initial Jobless Claims (June 1) came in at 346K, against expectations of 345K. In addition, Continuing Jobless Claims (May 25) yielded a figure of 2.952M, relative to estimates calling for 2.975M. After the recent recovery, the USD/CAD is still trading negatively at -0.15%. According to Gareth Berry, a Research Analyst at UBS, “Resistance for the USD/CAD pair is at 1.0388, a break above which would open the way to 1.0451 and then 1.0524 – support is at 1.0328 ahead of 1.0262, indicating a bullish intraday bias.” “Based on the charts, the USD/CAD’s slide below short-term support just under 1.0300 at the start of the week has yielded naught, so far. Instead, the quick snap higher again through mid-week makes the downside move look like a false break and the bigger picture look still relatively constructive. We think 1.0295/1.03 is firm short-term support now. Short-term price signals suggest the intraday low may be in already. We look for gains to 1.0375/85.” recommends the TD Securities Team. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 6, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 7, 2013 Author Report Share Posted June 7, 2013 Commodities Brief: NFP’s see dollar strength and metals offered FXstreet.com (London) - The commodities, specifically precious metals, are offered and reacting to the dollar Brent Crude The Brent has been bid since the decline of the dollar and indeed was stabilised ahead of what printed as a relatively benign NFP’s differential between expectations and actual readings. The commodity traded above $104.00 this morning GMT. With the release of the numbers, 175k against expectations of 170k, the price in Brent has maintained a support line of above $104 and is likely to be reactive and attractive to investors and speculators driving prices higher in the back drop of a weaker dollar. For the time being the dollar has remained within relatively tight ranges since the numbers. Metals offered The precious metals have shed some of its gains correlated to the price actin in the currency markets and the dollar. The dollar has grasped onto territory as the ef="">NFP’s offered a better print than which was expect by traders today. The numbers were slightly better, but good enough to see the dollar strengthen across the board, albeit only marginally in comparison to yesterdays slide. Gold is trading much lower though to the $1,387, near enough pairing the gains made yesterday after the dollar onslaught. Silver is trading 22.45 and below the support line for the year at lowest levels since 2010. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 7, 2013 OctaFX.Com News Updates Flash: ECB less dovish – TD Securities FXstreet.com (London) - Research teams at TD Securities explain that for the EUR, Draghi’s comments at yesterday’s ECB meeting may have been mildly less dovish than the market was anticipating, but that clearly didn't justify the huge move higher in EURUSD. They suggested that within Europe it is worth noting the particularly strong German industrial production numbers this morning which set up Germany for quite a robust GDP figure in the second quarter and this continues to contrast activity in most of the Eurozone. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 7, 2013 OctaFX.Com News Updates USD/MXN rebounds from 12.7000 FXstreet.com (Barcelona) - The Mexican peso is sharply appreciating against its northern neighbour on Friday, dragging the USD/MXN to session lows around 12.7000 after the Banxico left the refi rate unchanged. Stronger MXN on Banxico, CPI The Mexican central bank kept the lending benchmark intact at 4.0%, broadly in line with market expectations and somehow neutralizing the effects of better Payrolls in the US economy during May. Further data in the Aztec economy showed that consumer prices expanded at an annual rate of 4.65%, marginally higher than the 4.63% previous. As of writing, the pair is down 0.45% at 12.7463. Short-term key levels A breach of 12.6867 (MA200d) would bring 12.6101 (low May 30) and finally 12.4622 (MA21w). On the flip side, resistance levels align at 12.9016 (high Feb.260 followed by 12.9370 (high Jun.6) and then 12.9454 (high May 31). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 7, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 10, 2013 Author Report Share Posted June 10, 2013 Flash: USD/CAD ascension pauses – UBS FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's commodity-based currencies and outline the technical positions. In terms of the AUD/USD, “As there is an important support at 0.9388, the immediate risk appears to be for a short-term recovery to unwind these downside conditions. Resistance is at 0.9546 ahead of 0.9674, suggesting a bearish outlook.” In addition, in looking at the USD/CAD, the recent sharp sell-off tested support at 1.0169, a closing break below this would be negative, triggering a deeper sell-off to 1.0120 and then 1.0027 – resistance is at 1.0288. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 10, 2013 OctaFX.Com News Updates EUR/USD keeps pushing higher, around 1.3270 FXstreet.com (Barcelona) - The EUR/USD accelerates its upside on Monday, posting once again session highs in the area of 1.3265/70. Richard Kelly, FX Researcher at TD Securities, suggested, “Eurozone focus will likely revolve around the German Constitutional Court hearing the OMT case on Tuesday and Wednesday. The bias is likely somewhat negative for European sentiment as Eurosceptic once again hit the airwaves, Asmussen testifies against Weidmann, and stories have already circulated (though already denied) that the ECB could impose a limit on OMT purchases”. EUR/USD is now advancing 0.47% at 1.3255 and a breakout of 1.3306 (high Jun.6) would open the door to 1.3319 (high Feb.25) and finally 1.3341 (61.8% of Feb.-Apr. slide). On a downside, support levels arise at 1.3103 (MA100d) followed by 1.3075 (low Jun.6) ahead of 1.3053 (low Jun.5). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 10, 2013 OctaFX.Com News Updates Flash: Canadian fundamentals stronger than what USD/CAD reflects - UBS FXstreet.com (Córdoba) - The UBS analyst team argues that Canadian fundamentals are stronger than what USDCAD has reflected. "The CAD has been thrown in the same basket with the AUD, which has sold off massively", says UBS. "However, the Australian weakness is a domestic and Australia-specific case. Canada on the other hand has no structural problem such as Australia and going forward Canada should continue to profit from the US recovery". "We remain CAD bullish and prefer an AUDCAD short position to express this view", they add. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 10, 2013 OctaFX.Com News Updates Flash: Canadian fundamentals stronger than what USD/CAD reflects - UBS FXstreet.com (Córdoba) - The UBS analyst team argues that Canadian fundamentals are stronger than what USDCAD has reflected. "The CAD has been thrown in the same basket with the AUD, which has sold off massively", says UBS. "However, the Australian weakness is a domestic and Australia-specific case. Canada on the other hand has no structural problem such as Australia and going forward Canada should continue to profit from the US recovery". "We remain CAD bullish and prefer an AUDCAD short position to express this view", they add. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 10, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 12, 2013 Author Report Share Posted June 12, 2013 Flash: Expect a larger Japanese trade deficit in May - Nomura FXstreet.com (Barcelona) - Nomura economists are estimating a larger trade deficit in May, with the first rise in real exports for two months. They write, “We have estimated May imports and exports, which are scheduled for release on 19 June, using the trade statistics for 1–20 May published by the MOF on 7 June and the corporate goods price index published by the BOJ on 12 June. We estimate a nominal trade deficit of ¥1,232.7bn.” On a seasonally adjusted basis, they estimate a deficit of ¥963.5bn, larger than the deficit of ¥764.4bn in April. Further, they estimate a 1.1% m-m increase in real exports, the first rise for two months. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 12, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 12, 2013 Author Report Share Posted June 12, 2013 Flash: Toshin momentum is slowing for now - Nomura FXstreet.com (Barcelona) - Nomura Strategist Yujiro Goto notes that Japanese retail investors had purchased foreign securities via toshins for three months in a row until May, but momentum is likely to be slowing slightly now. He expects toshin momentum to remain strong this year thanks to better economic conditions in Japan, but recent market volatility is likely to slow the momentum for now. He writes, “To gauge the momentum going forward, the many new toshin launches investing in Japanese equities in foreign currencies and foreign equities later this month are worth monitoring.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 12, 2013 OctaFX.Com News Updates Flash: EUR/USD rise may falter in the 1.3300 region – ANZ FXstreet.com (New York) - Much has been made of a Head and Shoulders pattern occurring in the EUR/USD, however this has mostly been conjecture. According to Tim Riddell, Head of Global Markets Research at ANZ, “The current push above 1.3250 may raise concern over an extension towards 1.3475-1.3500, however the overall pattern remains the same. A broad range is being defined with the bias being that the squeeze may falter in the 1.3300’s.” An extension should merely define a 1.25-1.35 range. Moreover, dips below 1.3115 would signal that the range has been defined. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 12, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 13, 2013 Author Report Share Posted June 13, 2013 Flash: AU vols lower - Nomura FXstreet.com (London) - Saeed Amen strategist at Nomura notes that Gold has been relatively stable in recent weeks, compared with other markets, which have seen large unwinds triggered by increased expectations of Fed tapering following Chairman Bernanke‟s testimony in May. Indeed, he say’s, gold implied vols are well off their April highs, contrasting with the rise in implied elsewhere. One explanation he mentions is that gold’s large April fall might have already gone someway to pricing in the start of the end of QE price of gold. Indeed, spec positioning is extremely low in gold, which has made it less vulnerable to the position squaring that has afflicted many markets. He points out that Gold has been in somewhat of a flux, with a continuation of gold ETF liquidation (albeit at a slower rate), while Asian demand has supported the downside. While his teams prefer upside, especially because of the lack of spec positioning, they think that to have a decent move higher, gold ETF liquidation will need to turn OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 13, 2013 OctaFX.Com News Updates US Sells 13 billion of 30-Year Bonds at 3.355% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 13, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 14, 2013 Author Report Share Posted June 14, 2013 Flash: Monetary policy needs revamping in Nordic countries? – Goldman Sachs FXstreet.com (New York) - “Much has been made of the below-target inflation in Scandinavia, which is the result of external factors (exchange rate and foreign prices) that are largely exogenous to the Riksbank and Norges Bank.” notes the Economics Research Team at Goldman Sachs. Domestic inflation is currently around target and a sizeable easing would be required to raise domestic inflation sufficiently to reach the aggregate inflation target in the near term. Such easing would come with risks: creating a sizeable domestic boom risks spurring excessive credit growth and would likely result in more volatile monetary policy in the medium term. According to the team, “This suggests that small (very) open economy inflation targeters, such as the Riksbank and Norges Bank, should adopt a longer-than-usual time horizon for monetary policy.” The Riksbank and Norges Bank appear effectively, although not officially, to have done this. This underlies our view that both central banks will hike in 2014, despite a below-target inflation rate, as imported inflation (exogenously) reverses its recent declining trend, and in order to limit the upward trend in domestic inflation and credit growth. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 14, 2013 OctaFX.Com News Updates AUD/USD returns to sub 0.9600 FXstreet.com (Edinburgh) - The AUD/USD is netting strong gains during the week, managing to recover ground from multi-month lows around 0.9320 on Tuesday to Thursday’s tops near 0.9670. AUD/USD posed for further pullbacks However, the pair would resume its more ample negative trend as soon as the USD extreme positioning reverses and the Fed’s ‘tapering’ returns to the headlines. In the view of I.Spivak, Currency Analyst at DailyFX, “Prices are attempting a recovery from support at 0.9388, the 38.2% Fibonacci expansion, as expected. A break above near-term resistance at 0.9542, the 23.6% level, exposes the June 3 high at 0.9791. Alternatively, a push beneath 0.9388 exposes the 50% Fib at 0.9264”. Key levels to watch in AUS/USD At the moment the pair is retreating 0.53% at 0.9588 and a breakdown of 0.9571 (MA10d) would open the door to 0.9567 (low Jun.14) and finally 0.9430 (low Jun.13). On the upside, resistance levels are located at 0.9675 (high Jun.4) ahead of 0.9792 (high Jun.3) and then 0.9828 (high May 22). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 14, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 17, 2013 Author Report Share Posted June 17, 2013 GBP/USD continues drifting higher FXstreet.com (London) - GBP/USD is drifting higher still, from printing below the figure this morning to record recent highs in 1.5750’s. GBPUSD has reclined a little back down along the 200d ma and is currently oscillating in the 1.5730 and 1.5740’s again while a bullish NAHB Housing Market Index was just printed for the Us economy as 52 against previous 44 and consensus of 45. The market is mostly awaiting FOMC and a raft of other data for an indication for where the next hint of any tapering might appear in the US. For the UK, we wait for further signs to see whether the economy can stay on track for a recovery. GBP/USD downside risk Technically GBP/USD may find it tuff to continue much higher until there are more confirmations that the risk of tapering the QE programme in the US will not be commencing in the near future and that the UK economy really is improving. Analyst at Commerzbank, Karen Jones, said a break below the 1.5490 June 7 low is needed to alleviate immediate upside pressure and signal a slide back to the 55 day moving average at 1.5352 en route to the base of the channel at 1.5044 OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 17, 2013 OctaFX.Com News Updates USD/CAD remains capped by 100-day SMA FXstreet.com (Córdoba) - As most pairs in the FX space, the USD/CAD has spent most of the day in quiet consolidation, as investors' focus turns to central banks. Having bounced from a low of 1.0150 during the European session, USD/CAD managed to trim losses but the recovery was short-lived as the pair was capped by the 100-day SMA at the 1.0180 zone. At time of writing, USD/CAD is trading at the 1.0170 area, where it is virtually unchanged since opening. Central banks eyed In the absence of major data, the pair will likely remain within a tight range till Wednesday when the Fed will decide on monetary policy and release its economic projections and Bank of Canada Governor Stephen Poloz will make his first public speech. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 17, 2013 OctaFX.Com News Updates Flash: USD/CAD faces bearish headwinds – UBS FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's commodity-based currencies and outline the technical positions. In terms of the AUD/USD, “The pair is consolidating; however with the MACD below its zero line upside should be limited with resistance at 0.9731. Support is at 0.9416 ahead of 0.9326, suggesting a bearish outlook.” In addition, in looking at the USD/CAD, our focus is on the key support at 1.0120 ahead of 1.0027. Meanwhile resistance is at 1.0226 and is indicating a bearish outlook. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 17, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 24, 2013 Author Report Share Posted June 24, 2013 USD/CHF entrenched in negative territory FXstreet.com (New York) - The USD/CHF technical pair has been trading sporadically Monday, having oscillated continuously during US trading, whilst easing shortly after. USD/CHF continues to swing Presently, the USD/CHF is now operating in negative territory at 0.9342, down -0.31% in these moments. According to the analyst team at Mataf.net, supportive structures will trigger at 0.9281, ahead of 0.9198, and finally 0.9155. Conversely, the pair will face resistance at 0.9407, ahead 0.9450, and eventually 0.9533. Earlier today in the United States, the Chicago Fed National Activity Index (May), which was reported at -0.3, compared with a figure of -0.52 previously. Moreover, the Dallas Fed Manufacturing Business Index (June) came in at 6.5, climbing from a previous figure of -10.5 in May. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 24, 2013 OctaFX.Com News Updates Flash: AUD/USD faces bearish extension – UBS FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's commodity-based currencies and outline the technical positions. In terms of the AUD/USD, “The pair faces a strong support 0.9143. A closing break below this would be further negative. Resistance is at 0.9313 ahead of 0.9415, suggesting a bearish outlook.” The pair is moving higher and posting new highs – resistance is at 1.0524 ahead of 1.0658. Support is at 1.0363. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 24, 2013 OctaFX.Com News Updates EUR/USD clings to 1.3100 FXstreet.com (Córdoba) - Despite some intraday volatility, EUR/USD is trading little changed on the day around 1.3100, mark that has acted as a magnet to the pair on Monday. EUR/USD consolidates around 1.3100 EUR/USD saw a short-lived dip to a 3-week low of 1.3058 at the beginning of the New York session but the USD lacked momentum to drag the pair below that level. With the subsequent bounce capped by the 1.3115 zone, EUR/USD was confined to a phase of consolidation around 1.3100 where it is nearly flat on the day. As for technical levels, a break above 1.3122 (daily high) could pave the way to the 1.3200 level and 1.3245 (100-hour SMA). On the other hand, if the pair falls below 1.3058, next supports are seen at 1.3040 (Jun 4 low) and 1.3000 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 24, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 25, 2013 Author Report Share Posted June 25, 2013 Flash: Treasuries a buy on global volatility – RBS FXstreet.com (New York) - According to the RBS Research Team, “Global markets remain highly unsettled as rising volatility 'shakes down' months/years of policy-induced carry trades.” While we ultimately believe that the odds are against the US economy performing well enough to elicit a September tapering (especially given events of the past few weeks), we have little confidence that the positioning imbalances that have pushed rates higher (in emerging markets, MBS, dividend rich stocks, municipal bonds, REITS, etc.) have wrung themselves out. As such, we prefer to ride out the storm in cash or maybe front end Treasuries (2-years around key support ~0.40%) until there are clearer signs that investor positioning is better geared to a world of less central bank policy activism (US and China), elevated geopolitical risks (Middle East, Turkey, Brazil, etc) and renewed strains within the Eurozone. Total Treasury inter-dealer broker volume was 137% of the 10-day average through this morning. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 25, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 26, 2013 Author Report Share Posted June 26, 2013 USD/CAD stabilizes in negative territory FXstreet.com (New York) - The USD/CAD technical pair has fallen lower during US trading, stabilizing in the region of 1.0470 Wednesday. In the United States, the EIA Crude Oil Stocks change (June 21) was reported at 0.018M, against expectations of -1.900M and compared with a figure of 0.313M previously. USD/CAD entrenched in negative territory At the time of writing, the USD/CAD is entrenched in negative territory, operating at 1.0472 in these moments, unable to shake a -0.40% decline off its opening. Despite the recent stagnation, the Mataf.net analyst team has identified the next short-term measures of support at 1.0464, then 1.0417, and 1.0375. Alternatively, resistance lies higher at 1.0553, onto 1.0595, and 1.0642. USD/CAD downside extension below 1.0530 According to the Technical Analyst Team at ICN.com, “The USD/CAD is trading a bit to the downside, which is expected to extend as long as the pair is stable below 1.0530. Meanwhile, the stochastic and RSI are reflecting the pair’s need for a downside correction.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 26, 2013 OctaFX.Com News Updates USD/CAD bounces off support FXstreet.com (New York) - The USD/CAD foreign exchange rate has broken off a tight consolidation Wednesday, paring losses now after a 13 pip rise during US trading. USD/CAD paring losses Given the recent movement higher, the USD/CAD technical pair still has a ways to go before crossing the threshold into positive territory. Presently, the pair is now trading at 1.0485 in these moments, negotiating a decline of -0.28%. According to the Mataf.net analyst team, a further decline in the exchange rate will bring the USD/CAD to support at 1.0464, then 1.0417, and 1.0375. If the rally continues however, resistances will be encountered at 1.0553, then 1.0595, and 1.0642. USD/CAD bull trend has lost some momentum “The USD/CAD continues to consolidate – short-term price action and studies suggest that the bull trend has lost some momentum over the past day or so, leaving the door open perhaps for a deeper correction of the sharp gains seen over the past week, especially of losses accumulate just a bit more from here.” notes the TD Securities Team. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 26, 2013 OctaFX.Com News Updates USD/CAD bounces off support FXstreet.com (New York) - The USD/CAD foreign exchange rate has broken off a tight consolidation Wednesday, paring losses now after a 13 pip rise during US trading. USD/CAD paring losses Given the recent movement higher, the USD/CAD technical pair still has a ways to go before crossing the threshold into positive territory. Presently, the pair is now trading at 1.0485 in these moments, negotiating a decline of -0.28%. According to the Mataf.net analyst team, a further decline in the exchange rate will bring the USD/CAD to support at 1.0464, then 1.0417, and 1.0375. If the rally continues however, resistances will be encountered at 1.0553, then 1.0595, and 1.0642. USD/CAD bull trend has lost some momentum “The USD/CAD continues to consolidate – short-term price action and studies suggest that the bull trend has lost some momentum over the past day or so, leaving the door open perhaps for a deeper correction of the sharp gains seen over the past week, especially of losses accumulate just a bit more from here.” notes the TD Securities Team. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 26, 2013 OctaFX.Com News Updates GBP/USD in 3-week lows Fxstreet.com (Edinburgh) - The sterling continues to grind lower on Wednesday, dragging GBP/USD to fresh 3-week lows in the boundaries of 1.5330. GBP/USD heading to 1.5300 The sterling remained apathetic to the BoE’s Financial Stability Report and Osborne’s Spending Review, while it seems to be more affected by MPC’s Miles, who advocated for further easing. The pound is also taking the hit after dovish comments by ECB’s Draghi. Camilla Sutton, Strategist at Scotiabank noted that the outlook on the pair remains bearish in the short term, adding “with most signals in sell territory and spot suggesting building downside momentum. In addition, spot has broken through the 50-day MA of 1.5387 and now flirting with a break of the 100-day MA at 1.5312. We expect further near-term weakness with a test down to 1.5200 in the near-term”. Recall that the bank holds a year-end target of 1.45 for GBP/USD. GBP/USD critical levels As of writing, the pair is down 0.39% at 1.5361 with the immediate support at 1.5300 (psychological level) ahead of 1.5293 (50% of 1.4832-1.5753) and then 1.5290 (low Jun.5). On the flip side, a break above 1.5442 (high Jun.26) would open the door to 1.5480 (high Jun.25) and finally 1.5500 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 26, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 27, 2013 Author Report Share Posted June 27, 2013 EUR/USD shakes off earlier negativity FXstreet.com (New York) - The EUR/USD foreign exchange rate refused to settle negatively (1.3000 session lows) and has thus jumped ahead and reclaimed its earlier gains during US trading EUR/USD unable to breach 1.3000 level After falling earlier towards the 1.3000 barrier, the EUR/USD subsequently bounced, bringing it to 1.3035 presently, or up +0.16% Thursday. The Mataf.net analyst team has identified measures of upward resistance at 1.3079, onto 1.3134, and ultimately 1.3181. Conversely, a push below the 1.3000 barrier will initiate support at 1.2977. EUR/USD move down to 1.2840 could come into play According to Xiomara Vargas at FXCM, “The EURUSD sliced through support at 1.3070/80 (38.2% Fib July 2012 low to February 2013 high, 50% Fib April low to June high) yesterday. A break here suggests 1.2960 and 1.2840 before the trend support off of the November and March lows comes into play.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 27, 2013 OctaFX.Com News Updates US data boost markets, dollar flat Fxstreet.com (Edinburgh) - Positive data from the US economy are propping up today’s upside, with markets advancing for the third consecutive session. Fed’s officials also added to the upbeat momentum after confirming that the next steps in monetary policy will remain data-dependent. The greenback, gauged by the US Dollar Index, is alternating gains and losses, although keeping the trade above 83.00 the figure. The DowJones is advancing 0.73%, followed by the Nasdaq, 0.77% and the S&P500, 0.67%. Bourses in Euroland closed with strong gains spurred by the good performance of the US data. The British benchmark led the winners advancing 1.26% and followed by the CAC40, 0.97% and the DAX, 0.63%. The EUR/USD is currently navigating around 1.3030 in a choppy session, despite the positive employment data from Germany and mixed results in the EMU from the consumer confidence and business climate. In the commodities’ realm, the barrel of WTI is gaining 1.57% at $97.01 while the once troy of gold is extending its decline, falling 2.55% at $1,199. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 27, 2013 OctaFX.Com News Updates EUR/CHF consolidates above 1.2300 FXstreet.com (Córdoba) - The euro has accomplished gains versus most competitors on Thursday, supported by better-than-expected German employment data and upbeat EMU confidence surveys. EUR/CHF rallied over 80 pips throughout the day, breaking above the 1.2300 mark, to score a 1-week high of 1.2336 at the beginning of the NY session. However, the pair lost momentum during the American afternoon and retreated slightly. EUR/CHF moves off 8-week lows At time of writing, EUR/CHF is trading at the 1.2325 area, still up 0.5% on the day. EUR/CHF has been steadily edging higher over the last days after bottoming out at 1.2216 on Monday. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 27, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 28, 2013 Author Report Share Posted June 28, 2013 Session Recap: USD mixed into the month-end FXstreet.com (Córdoba) - The dollar is mixed against the majors into the month- and quarter-end. The yen trades overall softer amid better sentiment, as fears of imminent QE tapering by the Fed eased after comments from Dudley and Lockhart on Thursday. EUR/USD rose to the 1.3080 area, while USD/JPY claimed the 99.00 mark. Elsewhere the greenback trades flat versus the other majors and currencies linked to commodities. However, AUD/USD is among the worst performers given gold's weakness, which dropped below $1200 an ounce today. Main Headlines in Europe: Germany: Retail Sales rise 0.8% in February UK: Annual Nationwide Housing Prices grow 1.9% in June Flash: What can we expect from the EUR/USD – UBS and Commerzbank UK: Index of Services rises 0.2% in April, as expected OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 28, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 28, 2013 Author Report Share Posted June 28, 2013 EUR/USD steadies around 1.3000 FXstreet.com (Córdoba) - Following a sharp dip, EUR/USD managed to find support and stabilized around 1.3000 during the American afternoon. EUR/USD finds support at 1.2990 EUR/USD dropped from the 1.3100 area to a 2-day low of 1.2990 during the New York session amid strong USD buying interest into the month- and quarter-end. However, the decline slowed just ahead of this week's lows, confining the pair to a narrow range over the last hours, with the Cyprus downgrade by Fitch having no effect on the EUR/USD. At time of writing, EUR/USD is trading around 1.3000, where it is 0.3% below its opening price, with immediate supports at 1.2984 (Jun 26 low) and 1.2955 (Jun 3 low). On the other hand, resistances line up at 1.3100 and 1.3150 (Jun 21 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jun 28, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 1, 2013 Author Report Share Posted July 1, 2013 EUR/JPY operating at intraday highs FXstreet.com (New York) - The EUR/JPY technical cross is now operating at intraday highs during US trading, gradually augmenting its gains throughout the day. EUR/JPY upside doesn’t subside The EUR/JPY is presently trading at intraday highs at 130.27, having jumped +0.83% above its opening Monday. After breaching resistance at 129.89, the Danske Research Team identified further levels of resistance at 130.70, onto 131.30. Conversely, supports are found at 128.27, ahead of 127.60, and 127.49. EUR/JPY further bullishness intraday According to Technical Analyst Team at ICN.com, “The EUR/JPY managed to breach the resistance of the minor descending channel, forming the upside continuation Flag Pattern that supports extending the upside move in the upcoming period. Therefore, we expect further bullishness over intraday and short term basis, targeting areas from 131.05 then 133.75 as far as the pair maintains stability above 128.55.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 01, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 2, 2013 Author Report Share Posted July 2, 2013 EUR/GBP jumps into positive territory FXstreet.com (New York) - The EUR/GBP technical cross has rallied higher Tuesday, breaking into positive territory and threatening the 0.8600 level. EUR/GBP cannot breach 0.8600 barrier At the time of writing, the EUR/GBP has edged higher to the 0.8590 level, still below its earlier highs at 0.8597. Presently however, the cross is notching a +0.04% advance, after a rapid recovery during US trading. The Mataf.net analyst team has identified the next short-term measures of resistance at 0.8602, then 0.8621, and 0.8648. Alternatively, support lies below at 0.8556, then 0.8529, and ultimately 0.8510. EUR/GBP still looks to break higher According to the Analyst Axel Rudolph at Commerzbank, “The EUR/GBP nears resistance at 0.8596/97 (the May high and cloud resistance). However, very shortly the cloud will thin and the risk of a break out from the 0.8470-0.8597 range will increase. Following repeated tests and recovery off 0.8470 the favored direction is still for a break higher.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 02, 2013 OctaFX.Com News Updates USD/JPY rockets to session highs FXstreet.com (New York) - The USD/JPY foreign exchange rate surged to session highs Tuesday during US trading, advancing steadfastly as the USD strengthens across the board. USD/JPY trading at resistance In these moments, the USD/JPY technical pair is botching a robust gain of +1.05%, establishing fresh highs at 100.71. According to the Danske Research Team, following a break above the 100.47 resistance, the pair will face the next measure of correction at 100.73. USD/JPY path clear towards 105.00/106.00? According to Head of Global Markets Research Tim Riddell at ANZ, “As the USD/JPY continues towards the secondary squeeze target of 100.00, the biggest concern is that this is not merely a sharp corrective squeeze, but could be an early resumption of JPY weakness and a push towards 105.00-106.00.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 02, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 4, 2013 Author Report Share Posted July 4, 2013 AUD/USD eases off highs FXstreet.com (New York) - The AUD/USD technical pair retreated off session highs at 0.9183 Thursday, easing slightly during US trading in recent moments. AUD/USD holds onto the majority of its gains At the time of writing, the AUD/USD is still notching steadfast gains at +0.80% above it’s opening, navigating the region of 0.9160 presently. The Mataf.net analyst team has identified the next short-term measures of resistance at 0.9181 (session highs), then 0.9263, and 0.9335. Alternatively, support lies below at 0.9027, then 0.8955, and ultimately 0.8873. AUD/USD slide below 0.85/90 2014 range According to the TD Securities Team, “After two months of underperformance, we remain more bearish on the AUD overall. In fact, we have changed our call on the RBA (now expecting another 25bps rate cut by year end) and have accordingly cut our AUD outlook through this year and next. We now forecast the AUD/USD to trade closer to 0.90 for the second half of this year, and slide to the 0.85/90 range over 2014.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 04, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 4, 2013 Author Report Share Posted July 4, 2013 Commodities Brief – Precious metals in retreat, crude maintains 101.00 FXstreet.com (New York) - Precious metal prices retreated slightly Thursday, having been confined to a tight range and devoid of any breakouts during a rather tranquil session. Gold neutral outlook intraday Gold prices have traded slightly lower during US trading, albeit in a muted consolidation on accounts of the American July 4 holiday. However, the yellow metal remains within a tight range, and accordingly a neutral stance is recommended. At the time of writing, gold prices are trading at USD $1248.30 per oz. Thursday. Silver bullish rebound likely Silver prices retreated towards a broken flag pattern, remaining entrenched above the 19.30 support level, still allowing for a bullish rebound. At the current levels, the price of silver has now moved to USD $19.55 per oz. during US trading. WTI crude oil bullish bias prevalent WTI crude oil is retesting 100.70-support level, looking to long dips towards 100.50, expecting another upside attempt. However, settling back below 100.70-100.50 may invalidate the intraday bullish bias and lead to a deeper downside correction. In these moments, WTI crude oil is negotiating a price of USD $101.08/bbl Thursday. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 04, 2013 OctaFX.Com News Updates USD/CHF moves above resistance to test intraday highs FXstreet.com (New York) - The USD/CHF foreign exchange has been swinging slightly near the top end of its trading range today, clinging to widespread gains during US trading. USD/CHF breaks past resistance At the time of writing, the USD/CHF pair is operating at 0.9581, just shy of a session high of 0.9585, securing a gain of +1.18% during US trading. Following a move above the 0.9568 resistance, the Danske Research Team points to resistances at 0.9651. On the decline, the pair will face supports at 0.9447, ahead of 0.9438, and 0.9407. USD/CHF positive expectations remain “The USD/CHF is still trading around 0.9485, but failed to stabilize above Linear Regression Indicators supporting the intraday positive outlook. In general, we hold on to our positive intraday expectations today unless the pair breaks 0.9400 levels supported by the bullish harmonic pattern.” notes the Technical Analyst Team at ICN.com. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 04, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
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