OctaFX_Farid Posted July 5, 2013 Author Report Share Posted July 5, 2013 GBP/USD back above 1.4900 FXstreet.com (Córdoba) - The GBP/USD managed to trim some of its recent losses, climbing back above 1.4900 as the immediate NFP effect fades. GBP/USD still feeling BoE pressure GBP/USD fell to a fresh 4-month low of 1.4856 in the wake of US employment figures and still weighed by BoE dovish statement, but found buyers and it is staging a corrective movement. At time of writing, GBP/USD is trading around 1.4910/15, where it records a 1.0% loss on Friday, having dropped over 400 pips within the last 48 hours. GBP/USD levels to watch As for technical levels, Valeria Bednarik, chief analyst at FXstreet.com locates next resistances at 1.4950 and 1.5000, while she places supports at 1.4860, 1.4830 and 1.4790. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 05, 2013 OctaFX.Com News Updates USD/CHF trading at resistance FXstreet.com (New York) - The USD/CHF technical pair retraced higher Friday, operating in these moments at calculated resistance which seems to have prevented any sustained push. USD/CHF price explosion above 0.9620 “Traders continued to take the USD/CHF upwards above 61.8% Fibonacci level approaching the intraday resistance at 0.9620. Technical indicators remain positive and thus, our bullish scenario remain intact. A sustained break above 0.9620 will bring upside price explosion.” notes the ICN.com Technical Analyst Team. USD/CHF path higher marked by barriers of correction Amidst the recent easing, the USD/CHF is still entrenched in positive territory, operating at 0.9628 presently, gaining +0.65% Friday. The Danske Research team points to resistances for the USD/CHF at 0.9624, then 0.9651, and 0.9666. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 05, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 9, 2013 Author Report Share Posted July 9, 2013 Flash: GBP Bottom of G10 – TD Securities FXstreet.com (London) - Research teams at TD Securities said the GBP is at the bottom of the G10 performance rankings after a disappointing UK industrial production print (particularly in view of last week’s encouraging PMI numbers). “That’s pressed GBPUSD to a marginal new low in the June/July trend, but importantly the March low has so far held (1.4835). A close below there would be a key bearish sign, targeting an extension toward the mid 1.42 area”. They also said the EURUSD is sitting on a the cusp of making a rather bearish signal with key long term support just above 1.2800. “Whether we see a rebound in these pairs in the coming days relies on the USD side of the equation, where tomorrow’s FOMC minutes and Bernanke’s speech should be a deciding factor”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 09, 2013 OctaFX.Com News Updates AUD/USD eases off highs in risk-off movement FXstreet.com (New York) - The AUD/USD foreign exchange rate eased substantially in an instant Tuesday, triggered by a sweeping bout of risk aversion that is permeating the market. At the time of writing, the AUD/USD is now trading at 0.9151, still recording an advance of +0.21% above its opening, though well off its highs that were in excess of the 0.9200 level (0.9203 intraday high). AUD/USD technical bias According to Karen Jones, an analyst at Commerzbank, “The AUD/USD faces risks in the near-term as a hold below the 0.9388/0.9404 resistance leaves the overall probability of a continued downside.” In addition, “The AUD/USD’s move to the upside during yesterday and the Asian session today was triggered by a failure to stabilize below Linear Regression Indicator 34 and 55. However, the pair is within a descending channel, as stability below the key resistance level of the descending channel at 0.9290 keeps the possibility of extending the overall negative bias.” The AUD/USD has stubbornly clung to the 0.9145 region (200-day SMA), as this is a critical level that will determine the pair’s near-term directional trend. Most recently, the pair weakened off the 55-day MA, as this region proved too much to handle – immediate resistance lies at 0.9145, onto 0.9190. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 09, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 11, 2013 Author Report Share Posted July 11, 2013 GBP/USD dips contained by 1.5060 FXstreet.com (Córdoba) - The GBP/USD saw a quick yet short-lived drop at the beginning of the American session in the wake of disappointing US jobless claims. GBP/USD dips below 1.5100 GBP/USD dropped nearly 50 pips after the data, piercing below the 1.5100 mark, although the dip was contained by the 1.5075 level. At time of writing, the pair is trading at the 1.5095 zone, where it records a 0.6% gain on Thursday. GBP/USD loses bullish shine "The hourly chart shows an increasing bearish potential, with price struggling around 20 SMA and indicators heading south below their midlines, yet only below 1.5050 bears will gain some control over the pair", says Valeria Bednarik, chief analyst at FXstreet.com. "In the 4 hours chart technical readings hold in positive territory turning flat after erasing overbought readings which limits for now the downside". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 11, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 12, 2013 Author Report Share Posted July 12, 2013 Commodities Brief – Precious metals holding in rangebound consolidation FXstreet.com (New York) - Commodities managed to avert any large-scale breakouts Friday, instead operating in a rangebound consolidation. Gold bullishness reiterated Gold extended the bullish bias after retesting 1269.00 horizontal support, alongside the ascending support for the latest rally. Accordingly, a previous bullish scenario was activated and remains valid so long as 1260.00 is holding. At the time of writing, gold prices are trading at USD $1278.53 per oz. Friday. Silver 19.50 level provides support Silver spot prices broke below the neckline for the minor double top pattern, hinting that a further intraday bearish bias is probable, albeit with the 19.50 level providing a form of good support. At the current levels, the price of silver has now moved to USD $19.81 per oz. during US trading. WTI crude correcting? WTI crude oil started a downside correction, extending towards the 104.00 support area, holding above this area is necessary for not extending the losses. Ultimately however, an intraday bullish rebound is expected so long as 103.90 area is holding. In these moments, WTI crude oil is negotiating a price of USD $105.35/bbl Friday. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 12, 2013 OctaFX.Com News Updates AUD/USD tumbles lower towards support FXstreet.com (New York) - The AUD/USD foreign exchange rate made a recovery attempt that faltered at the 0.9070 region, exacerbating losses across US trading. As such, the AUD/USD is now settling at 0.9047, incurring robust losses of -1.52% off its opening Friday. The next supportive measures lie at 0.9040, followed by the critical 0.9000 barrier, and 0.8975, calculates the Mataf.net analyst team. AUD/USD strategic bias According to the Technical Analyst Team at ICN.com, “The AUD/SD sold-off strongly, breaking the minor ascending support and 0.9100 level, while RSI dips below 50 level, and thus momentum has turned bearish over intraday basis.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 12, 2013 OctaFX.Com News Updates Flash: Near-term risks to European rates remain balanced – Goldman Sachs FXstreet.com (New York) - The ECB has just started to pre-commit to low interest rates for an extended period, with more explicit guidance from Governing Council member Asmussen that means rates will not rise for at least 12 months, suggests the Economics Research Team at Goldman Sachs. This is a new, more dovish communication strategy aimed at reversing a tightening in monetary policy linked to the Fed-induced global rates sell-off. Moreover, the ECB remains a strict inflation-targeting Central Bank, and its own growth and inflation forecasts make it highly unlikely that the ECB will hike any time soon. Indeed, the ECB has been discussing a possible rate cut for some time, as President Draghi has indicated at recent press conferences. On the other hand the data over the last few months points to a modest rebound in inflation and economic stabilization in the periphery – both make a rate cut at the margin less likely. “In line with this assessment, expectations for ECB policy have therefore not moved much and 2-year swap rates in the Euro area remain close to the average that has prevailed year to date. That said, the recent decline in EUR/USD and subsequent rebound coincided with local changes in rate differentials. Overall, the near-term risks to European rates seem balanced relative to market expectations.” the team adds. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 12, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 16, 2013 Author Report Share Posted July 16, 2013 USD/JPY supported 99.40 FXstreet.com (Barcelona) - USD/JPY has calved a path lower post an initial 20-pip spike after the release of US CPI. USD/JPY jumped from 99.30 territories to reach a high in the London session in a relatively quiet day and start to the week ahead of Bernanke’s semi-annual testimony to US Congress tomorrow. For Japan, this week we will see BoJ Monetary Policy Meeting Minutes tomorrow. USD/JPY with a downside bias Karen Jones, Chief analyst at Commerzbank noted that in USD/JPY, despite yesterdays rally, the market remains below its 101.60 78.6% retracement and attention remains on the base of the cloud circa 98.15. “It starts this week sandwiched between these two levels. We suspect that overall risk is on the downside. Should the base of the cloud be eroded, it will leave the market under pressure and likely to slide back to 96.75/95.40 en route to the 93.75 recent low”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 16, 2013 OctaFX.Com News Updates US equities open positively after upbeat CPI FXstreet.com (New York) - The US stock market edged higher Tuesday at the opening, as investors digest the latest CPI figures in the United States. Earlier today in the United States, the Consumer Price Index (YoY) grew by +1.8% in June, exceeding estimates of +1.5%. In addition, the Consumer Price Index (MoM) climbed +0.5% in June, beating expectations of only +0.3%. Finally, the Consumer Price Index ex Food & Energy (YoY) was reported at +1.6% in June, in line with projections. Beginning with the indices and composites, the NASDAQ rose +0.06% as it settles in region of 3610.41, up +2.16 points in these moments. In addition, the S&P 500 is trading in positive territory, operating at 1683.53, ascending +0.70 points or +0.04% at the time of writing. Finally, the Dow Jones has moved higher at the opening, trading in the zone of 15487.87, presently +0.02% after a movement of +3.61 points. Sectors are all mixed at the opening, however the Basic Materials and Energy sectors have distinguished themselves as the winners thus far, rising +0.63% and +0.29% respectively. Moreover, the price of gold has settled at $1291.24 per oz., while silver is now negotiating a spot price of $19.94 per oz. Tuesday. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 16, 2013 OctaFX.Com News Updates US equities open positively after upbeat CPI FXstreet.com (New York) - The US stock market edged higher Tuesday at the opening, as investors digest the latest CPI figures in the United States. Earlier today in the United States, the Consumer Price Index (YoY) grew by +1.8% in June, exceeding estimates of +1.5%. In addition, the Consumer Price Index (MoM) climbed +0.5% in June, beating expectations of only +0.3%. Finally, the Consumer Price Index ex Food & Energy (YoY) was reported at +1.6% in June, in line with projections. Beginning with the indices and composites, the NASDAQ rose +0.06% as it settles in region of 3610.41, up +2.16 points in these moments. In addition, the S&P 500 is trading in positive territory, operating at 1683.53, ascending +0.70 points or +0.04% at the time of writing. Finally, the Dow Jones has moved higher at the opening, trading in the zone of 15487.87, presently +0.02% after a movement of +3.61 points. Sectors are all mixed at the opening, however the Basic Materials and Energy sectors have distinguished themselves as the winners thus far, rising +0.63% and +0.29% respectively. Moreover, the price of gold has settled at $1291.24 per oz., while silver is now negotiating a spot price of $19.94 per oz. Tuesday. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 16, 2013 OctaFX.Com News Updates Flash: US Labour market improving - BBH FXstreet.com (London) - Marc Chandler Global Head of Currency Strategy at BBH said the US labour market has gradually improved. Leaving aside the unemployment rate, which is really more about the participation rate, the US economy has generated roughly 4.5 mln jobs over the past two years. The point is not about the strength in absolute terms, but relative to Europe. The housing market in the US has also improved, with Case-Shiller house price index rising at its strongest pace since mid-2006. These two consideration help underpin demand for durable goods. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 16, 2013 OctaFX.Com News Updates Flash: US Labour market improving - BBH FXstreet.com (London) - Marc Chandler Global Head of Currency Strategy at BBH said the US labour market has gradually improved. Leaving aside the unemployment rate, which is really more about the participation rate, the US economy has generated roughly 4.5 mln jobs over the past two years. The point is not about the strength in absolute terms, but relative to Europe. The housing market in the US has also improved, with Case-Shiller house price index rising at its strongest pace since mid-2006. These two consideration help underpin demand for durable goods. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 16, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 17, 2013 Author Report Share Posted July 17, 2013 GBP/USD dips to 1.5150 on Bernanke FXstreet.com (Barcelona) -The GBP/USD is losing around a big-figure since today’s peaks near 1.5270 as Fed’s Bernanke is holding a Q&A session after his testimony. GBP/USD testing 1.5150 The greenback is finding support on Bernanke’s words, bouncing off lows and weighting on the pair. Recall that earlier on during the European morning the BoE left intact its monetary policy and the MPC unanimously voted to keep the asset purchase programme at £375 billion, boosting the pound to fresh weekly highs in the boundaries of 1.5270. In the opinion of G.Moore and S.Osborne, FX Strategists at TD Securities, “The bigger picture remains however, that the MPC is still likely to remain very accommodative for quite a while and could even pursue alternate stimulus measures going forward. Overall that suggests the GBP should be weighed lower in the months ahead, particularly against the USD”. GBP/USD levels to watch As of writing the pair is up 0.15% at 1.5182 facing the next hurdle at 1.5270 (high Jul.17) ahead of 1.5284 (50% of 1.4832-1.5753) and then 1.5305 (high Jul.3). On the downside, a break below 1.5080 (low Jul.17) would target 1.5059 (MA10d) en route to 1.5045 (low Jul.16). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 17, 2013 OctaFX.Com News Updates GBP/USD dips to 1.5150 on Bernanke FXstreet.com (Barcelona) -The GBP/USD is losing around a big-figure since today’s peaks near 1.5270 as Fed’s Bernanke is holding a Q&A session after his testimony. GBP/USD testing 1.5150 The greenback is finding support on Bernanke’s words, bouncing off lows and weighting on the pair. Recall that earlier on during the European morning the BoE left intact its monetary policy and the MPC unanimously voted to keep the asset purchase programme at £375 billion, boosting the pound to fresh weekly highs in the boundaries of 1.5270. In the opinion of G.Moore and S.Osborne, FX Strategists at TD Securities, “The bigger picture remains however, that the MPC is still likely to remain very accommodative for quite a while and could even pursue alternate stimulus measures going forward. Overall that suggests the GBP should be weighed lower in the months ahead, particularly against the USD”. GBP/USD levels to watch As of writing the pair is up 0.15% at 1.5182 facing the next hurdle at 1.5270 (high Jul.17) ahead of 1.5284 (50% of 1.4832-1.5753) and then 1.5305 (high Jul.3). On the downside, a break below 1.5080 (low Jul.17) would target 1.5059 (MA10d) en route to 1.5045 (low Jul.16). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 17, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 22, 2013 Author Report Share Posted July 22, 2013 USD/CAD unable to shake negativity FXstreet.com (New York) - The USD/CAD foreign exchange rate has been unable to muster a sustained push Monday capable of eliminating the entirety of its losses after a prolonged rebound that has already risen out of the depths at 1.0319 (daily low). In these moments, the USD/CAD is unable to shake its negatively, relegated to losses of -0.22%, currently trading at 1.0340. Technically speaking, the USD/CAD remains capped well fortified by short-term supports at 1.0326, ahead of 1.0296, and 1.0269, notes the Danske Research Team. USD/CAD strategic bias According to the Technical Analyst Team at ICN.com, “The USD/CAD is still trading negatively within the normal bearish correction in the ascending channel. The downside move might extend this week especially that the pair is stable below 1.0430 and Linear Regression Indicators tends to be negative. Breaking 1.0315 might clearly extend the downside move in the upcoming period.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 22, 2013 OctaFX.Com News Updates Flash: Portuguese politics remain split – Deutsche Bank FXstreet.com (New York) - The impending situation in Portugal took a different turn this weekend, culminating in new chapter of drama, notes Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank. Key quotes In Europe, “a major political development of note on Sunday was in Portugal where the major parties failed to agree on a national salvation pact. However the President announced a new solution to the political situation late last night which involves the ruling coalition government remaining in office after the ruling bloc gave the President additional guarantees that they would keep their coalition together to see through the country’s EU program.” The President ruled out calling a snap general election two years ahead of schedule and said the ruling coalition would shortly table a confidence motion setting out its economic plans until the end of it term in 2015. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 22, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 23, 2013 Author Report Share Posted July 23, 2013 EUR/USD in fresh 5-week highs around 1.3230 FXstreet.com (Edinburgh) -The euro is accelerating its pace now, lifting the EUR/USD to fresh highs in the boundaries of 1.3230, levels last seen in late June. EUR/USD bolstered by USD weakness The heavy selling is still hovering over the greenback, testing the key support at 82.00 and posting multi-week lows at the same time in terms of the US Dollar Index. BBH Global Currency Strategy Team suggested, “Even though the greater uncertainty about the timing of Fed tapering remains the strongest driver in FX markets, the news flow out of Europe also supports our near-term dollar consolidation call. We see scope for the euro to stage a break of the $1.3250 level this week. On the other hand, a move down to the $1.3050-80 area would put this view in doubt”. EUR/USD critical levels At the moment the pair is up 0.28% at 1.3223 and a break above1.3255 (high Jun.21) would open the door to 1.3261 (76.4% of 1.3417-1.2755) and then 1.3302 (high Jun.20). On the downside, support levels align at 1.3164 (low Jul.23) followed by 1.3115 (low Jul.22) and finally 1.3106 (cloud base). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 23, 2013 OctaFX.Com News Updates AUD/USD extends the correction higher FXstreet.com (Edinburgh) -After hitting session lows around 0.9230, the Aussie dollar is picking up pace and pushing the AUD/USD to the current area of 0.9260/65.] AUD/USD trimming losses The pair is thus paring earlier losses from overnight tops around 0.9290, ahead of key inflation data in Australia due tomorrow. Gareth Berry, FX Strategist at UBS commented, “Our economists think inflationary pressure will be weak enough to trigger a 25bp RBA cut on August 6. Only 17bp of easing is currently priced in, so we expect significant Australian dollar sensitivity to any surprise in either direction”. AUD/USD levels to watch At the moment the pair is advancing 0.19% at 0.9267 with the next hurdle at 0.9286 (high Jul.23) ahead of 0.9292 (high Jul.17) and then 0.9301 (38.2% of 0.9792-0.8998). On the downside, a breach of 0.9187 (MA10d) would open the door to 0.9180 (MA21d) and then 0.9175 (low Jul.22). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 23, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 24, 2013 Author Report Share Posted July 24, 2013 Flash: China weighing on AUD – TD Securities FXstreet.com (London) - Research teams at TD Securities noted the performance of AUD post Chinese data overnight. Key Quotes: “A miss on the flash HSBC Chinese manufacturing PMI contrasted the better than expected PMI’s from German and France overnight, and the reaction in the FX space reflects that divergence with the EUR at the top of the G10 performance ranks and AUD at the bottom”. “The AUD had a lot to digest in a short period, with a mixed but overall better than expected Australian inflation report initially lifting the currency above 0.9300 before the flash Chinese PMI unwound any positive tone shortly after”. “The somewhat better inflation report suggests the threat of an RBA rate cut next month has diminished slightly, but the more pressing concern for markets is the state of activity in China”. “The flash PMI raises fears of a sub-50 print for the official PMI next week, and such an outcome could re-ignite fears of a ‘hard landing”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 24, 2013 OctaFX.Com News Updates Flash: USD/JPY downside held by 98.57 support – UBS FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions. Key quotes Beginning with the USD/JPY, Any downside will be held by strong support at 98.57, which was held previously on a closing basis. Focus is on resumption of upside, with resistance at 101.53 ahead of the key resistance at 103.74, suggesting a bullish intraday outlook.” “As for the GBP/USD, upside is held by a strong resistance at 1.5394. A closing break above this would be a bullish development. Initial support is at 1.5258 ahead of 1.5171. Finally, “regarding the USD/CHF, with the MACD settled below the zero line, our focus is on further downside, with initial support at 0.9242 ahead of critical 0.9130.Resistance is at 0.9416 ahead of 0.9478.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 24, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 24, 2013 Author Report Share Posted July 24, 2013 GBP/USD in red within the range FXstreet.com (Edinburgh) -The GBP/USD is posting meager gains at the time of writing, hovering over 1.5355/60 as the GBP rally is showing signs of exhaustion around the key 1.5400 handle. GBP/USD recovery faltering Same as its European counterpart, the pound is recovering ground lost in the recent USD rally from mid-June to early July, although the pair seems to lack vigour to surpass 1.5400 the figure so far. In the opinion of Nick Mannion and Paul Robson, Strategists at RBS, “Risks would be more two-way up at 1.54 and turn to downside as spot approaches 1.57. While we’re still concentrating on the policy event risks of early August to provide the next directional signal, talk of sustained recovery in the UK should be mildly GBP supportive. On this, we continue to believe that the scope for UK data to surprise is becoming increasingly limited”. GBP/USD levels to watch At the moment the pair is down 0.06% at 1.5358 with the next support at 1.5315 (low Jul.24) ahead of 1.5289 (MA30d) and finally 1.5258 (low Jul.22). On the flip side, a break above 1.5390 (high Jul.24) would open the door to 1.5393 (high Jul.23) and then 1.5442 (high Jun.26). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 24, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 25, 2013 Author Report Share Posted July 25, 2013 Flash: USD/JPY faces strong correction at 98.57 – UBS FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions. Key quotes Beginning with the USD/JPY, “Any downside will be held by strong support at 98.57, which was held previously on a closing basis. Focus is on resumption of upside, with resistance at 101.53 ahead of the key resistance at 103.74, suggesting a neutral intraday outlook.” “Upside is held by a strong resistance at 1.5394. A closing break above this would be a bullish development. Initial support is at 1.5258 ahead of 1.5171.” Finally, “regarding the USD/CHF, “with the MACD settled below the zero line, our focus is on further downside, with initial support at 0.9323 ahead of 0.9242.Resistance is at 0.9416 ahead of 0.9478.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 25, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 26, 2013 Author Report Share Posted July 26, 2013 USD/JPY collapses to 98.00 FXstreet.com (San Francisco) - The Dollar continues with its decline against the Japanese Yen and after collapsing around 60 pips from 98.60 in the last few minutes, the USD/JPY has fallen to break the 98.20 key level and to test the 98.00 support, lowest since June 27th. Currently, the USD/JPY is trading at 98.10, 1.20% negative on the day. The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish. Below the 98.00, next supports are 97.60 and 97.20. On the upside, resistances are now at 98.20, 99.00, 99.10 and 99.85. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 26, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 31, 2013 Author Report Share Posted July 31, 2013 Flash: EUR stronger as Spain´s negative GDP met with enthusiasm - BTMU FXstreet.com (Barcelona) - Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that he can’t recall a negative GDP print (GDP in Q2 -0.1%, released yesterday) being met with such enthusiasm as Spain’s yesterday – the data and the reaction to it highlights the current situation in the euro-zone. Key Quotes “Optimism is rising but the improvement is relative and economic conditions will still be very weak over the coming quarters.” “In our view that means the ECB will come under increasing pressure to do more to stimulate demand after the summer break. The ECB press conference tomorrow will possibly be more about highlighting the fact that conditions are improving but the attempt at “forward guidance” has been pretty poor with the euro stronger and short-term yields higher. “More will be required by the ECB. The only data from the eurozone today will be German and euro-zone unemployment – which will tell very different stories with periphery weakness leaving EZ unemployment at an expected 12.2% in June – a record.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 31, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 31, 2013 Author Report Share Posted July 31, 2013 Fixed income markets are on tendor hooks FXstreet.com (Barcelona) - Fixed income markets are on tendor hooks ahead of the FOMC and other central banks meeting this week. Treasuries are currently subject to speculation to the Fed trimming its bond buying programme this year. They are poised for a third monthly decline before the Fed decision this evening. The U.S. are scheduled to announce the size of 10 and 30 yr debt auctions due for next week and could start to cut sales by $40b-$100b during the next year and many anticipate reductions as soon as next month. This has spurred a widening of the 2-10yr yields and the market and prices will now be data sensitive this afternoon. US ADP employment change will be released and we then have US Q2 GDP in focus. What will be interesting is the markets reaction to the new GDP monitoring system that makes up the data. The US Government has invented a new way of calculating the data that now includes R&D spending, art, music, film royalties, books and theatre, and some will argue it is not comparable with the rest of the global nations. Eye sill be keen to these data and the spreads are already as wide as 231 basis points as demand is decreasing from investors who are looking for longer tem maturities. The U.S. 10 year yield fell 0.01 pct to 2.60 at 6.30 am EST and the 1.75pct note with May maturity rose $1.25 to 92 23/32. ” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 31, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 6, 2013 Author Report Share Posted August 6, 2013 USD/CHF offered sub 0.9300 FXstreet.com (Barcelona) - USD/CHF attempted a recovery overnight from support zone 0.9260 but has since been rejected just shy of 0.9300. USD/CHF is holding up at 0.9280 for the time being on what has been a quiet European session so far across the board. . Today on the event side of things we have a little bit of US data starting out wit the Trade Balance (Jun) expected -$43.10B. Then we will see Redbook Index (YoY) and (MoM) (Jul 28). For Switzerland, we will wait for tomorrow and see the outcomes of CPI (MoM) and (YoY) (Jul). USD/CHF moves below pivot 0.9293 USD/CHF has filed to the topside of its overnight run and has ticked below the pivot 0.9293. The 20d ma is 0.9370, 50 d ma is 0.9393 and the 200 d ma 0.9359. RSI (9) reads 38.02. Supports are ascending from 0.9130, 0.9176, 0.9226, 0.9246 while spot is currently trading at 0.9275. Resistances are 0.9280, 0.9310, 0.9333 and 0.9395 OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates EUR/JPY correcting lower FXstreet.com (Edinburgh) -The EUR/JPY is hovering over the area of 130.25/30 on Tuesday, down from session highs in the proximity of 130.70. EUR/JPY well supported around 129.00 The par is meandering between 129.00 and 133.00 since early July, reflecting the lack of clear direction in the single currency so far. Strategists Geoffrey Yu and Gareth Berry at UBS remain bullish on the cross, arguing, “The cross advanced after the test of critical support at 129.77. With the MACD still above the zero line, the risk is for further upside. Resistance is at 133.80”. EUR/JPY support and resistance levels The cross is now losing 0.01% at 130.31 and a breach of 129.81 (low Aug.6) would expose 129.38 (cloud top) and finally 129.35 (low Jul.31). On the upside, the next hurdle aligns at 130.72 (high Aug.6) followed by 130.91 (Tenkan Sen line) and then 1.31.55 (high Aug.5). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates Flash: USD/JPY to smart from dollar weakness - OCBC Bank FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank is expecting no surprises expected out of the BOJ’s Wed-Thu meeting. Key Quotes “The USD/JPY may well continue to smart from broad based dollar softness in the near term.” “The pair is currently contemplating the 98.00 floor with the next support expected at 97.60 before 97.00.” “In the interim, 99.00 should cap barring further USD positive rhetoric from the Fed.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates Flash: BOJ preview: Likely to remain on hold - BAML FXstreet.com (London) - Strategists Masayuki Kichikawa, Shogo Fujita, Shusuke Yamada, Setsuko Yamashita and Shuichi Ohsaki at BofA Merrill Lynch noted the BoJ coming up this week. Key Quotes: “The BoJ's next policy meeting is on 7-8 August. We do not expect it to make any changes to its policy framework, such as the base money target, the pace of asset accumulation, or the IOER”. “The BoJ might need to consider additional easing in three cases: (1) if downside risks increase for the economic growth and inflation outlook; (2) if doubts arise about the effects of its quantitative and qualitative easing, in the form of an unacceptable rise in long-term yields, for example; and (3) if overseas economies falter and the yen appreciates”. “With no change expected, we look for rates and FX to be range-bound. We favor receiving the belly, like JPY 3y1y, for its good rolldown”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 6, 2013 Author Report Share Posted August 6, 2013 US: IBD/TIPP Economic Optimism deteriorates to 45.1 in August against forecasts FXstreet.com (Barcelona) - The sentiment of US consumers dropped to 45.1 in August from 47.1 in July, the Investor's Business Daily (IBD) TechnoMetrica Institute of Policy and Politics (TIPP) informed on Tuesday. Analysts expected an improvement to 47.9. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates Flash: Sterling could test 200 d ma 1.5545 - BBH FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at BBH notes that Sterling traders are cautious of a surprise from Carney. Key Quote: “We think caution of a surprise by Carney has prevented sterling from benefiting from the improved economic data and the modest backing up of interest rates”. “ Barring, then, a significant surprise from Carney, we suspect sterling could trade higher; recover further against the euro, where the ECB is likely to keep rates low for longer (and risk renewed tensions after the summer holidays and German election)”. “Against the dollar, sterling can test the late July high near $1.5435. A break of that area, which also corresponds to a retracement objective from the June 17 peak near $1.5750 would likely encourage a test on the 200-day moving average seen near $1.5545”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates EUR/USD extends gains above 1.3300 FXstreet.com (Córdoba) - The EUR/USD picked up fresh momentum and extended gains above 1.3300 after one Fed Lockhart reportedly said the Fed could start tapering its bond-buying program at any of 3 remaining FOMC meetings this year. USD weighed by taper talk Amid broad USD weakness, EUR/USD managed to break above the 1.3300 level and climbed to a high of 1.3320 in recent dealings as US stocks and commodities tumble. At time of writing, EUR/USD is trading at the 1.3310/15 zone, where it records a 0.4% rise on the day. EUR/USD levels to watch Immediate resistance is now seen at 1.3345 (Jul 31 high) followed by 1.3400 (psychological level), while supports could be found at 1.3255 (100-hour SMA) and 1.3230 (Aug 5 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates Flash: Upside follow through in Sterling – Commerzbank FXstreet.com (Barcelona) - With BoE Inflation report tomorrow coming up, Axel Rudolph, Senior Technical Analyst noted GBP/USD charted an outside day to the topside on Friday, and saw some follow through strength yesterday. Key Quotes: “Currently we remain unable to rule out a retest of the 1.5432 July high. Loss of 1.5100 is needed to suggest further losses to the 1.5015 May low then 1.4854/32 support zones”. “Only should 1.5435 be eroded (not favoured) we will have to allow for further upside gains to 1.5551 the 78.6% retracement”. “Shorter term (1-3 weeks): Upside corrective. Medium term (1-3 months): Longer term we look for losses to 1.4832, then 1.4229, the 2010 low”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 6, 2013 Author Report Share Posted August 6, 2013 EUR/USD bounces after short-lived correction FXstreet.com (Córdoba) - The EUR/USD staged a short-lived correction from daily highs, sliding toward the 1.3280 area before finding support. EUR/USD back above 1.3300 However, EUR/USD managed to climb back above the 1.3300 mark most recently as bears lacked determination to drag the pair lower. The EUR/USD is currently trading at the 1.3310 zone, where it records a 0.4% gain on the day in a low-volume quiet summer session, with Fed Evans saying that he wouldn't clearly rule out September tapering weighing on the greenback. EUR/USD technical levels Technically speaking, the EUR/USD could face immediate resistances at 1.3320 (daily high) and 1.3345 (Jul 31 high) followed by 1.3400 (psychological level), while supports might be found at 1.3255 (100-hour SMA) and 1.3230 (Aug 5 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates GBP/USD riding turbulent gains FXstreet.com (Chicago) - GBP/USD accumulates 0.12% daily gains so far after reaching weekly highs close to 1.5400 to quickly retrace below 1.5370 regions, where it currently navigates. Outperforming data in the UK pushed the pound to higher levels as house prices (YoY) out beat expected 4.3% for a 4.6%. Yearly industrial and manufacturing production were 1.2% vs. previous -2.3% and an expected 0.6% as well as 2.0% vs. previous -2.9% respectively. Nonetheless, as trade balance data was released in the US at $-34.22B vs. previous $-44.10B and projected $-43.50B, the pound was sent to 1.5332 lows. Price action indicated market participants were bullish as the price rose above 1.5370 regions within minutes. Trading at 1.5381, the FXstreet trend index reported the pair as slightly bullish with key supports at 1.5307, 1.5269 ahead of 1.5231 and resistances at 1.5429, 1.5468 and 1.5507 OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates USD/CHF careens off 0.9270 level FXstreet.com (New York) - The USD/CHF summarily reversed off the 0.9270 region Tuesday afternoon during US trading, diving deeper towards the 0.9250 level in short-order. USD/CHF strategic bias According to the Technical Analyst Team at ICN.com, “The USD/CHF failed to stabilize above Linear Regression Indicators but has yet to stabilize above 0.9265. Therefore, the possibility of a new attempt to the upside is valid today as long as the pair stabilizes above 0.9200.” The USD/CHF seems quite a sizable distance away from the 0.9300 level, despite trading as high as 0.9297 earlier today. Presently, the pair is now operating at a -0.19% loss, buried at 0.9253. Briefing the technicals, the USD/CHF will look to test support at 0.9246, ahead of 0.9226, and 0.9176, calculates the Danske Research Team. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates USD/JPY back to the edge of the abyss FXstreet.com (Chicago) - USD/JPY accumulated -3.43% monthly losses, -1.20% weekly losses and 0.61% daily losses as the pair was unable to maintain its position above 98.00 key psychological support. Price action indicated the greenback weakened against a stronger yen up 0.62% in terms of relative performance. After navigating above the 98.5 regions, the price cracked down back to 6-weeks low levels. On outlook for the BoJ’s monetary policy statement later this week, market participants seemed to feel bearish against the dollar. Trading at 97.71, the pair oscillated between supports at 97.57 (June 5th highs), 97.41 (June 27 lows), 97.21 (June 21st lows) and resistances at 97.75 (June 11 lows), 97.83 (June 26 lows) ahead of 97.95 (June 24 lows). The ICN technical analysis team confirmed bearish sentiment based on the following statements: “After touching levels around 98.60, the pair dropped proving its bearish bias. Stochastic is becoming more negative reflecting the negative bias, as RSI is moving to the downside below line 50. The pair is also stable below Linear Regression Indicators, therefore we hold on to our negative expectations.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates Flash: Is GBP/USD undervalued heading into BoE? – BMO Capital Markets FXstreet.com (New York) - The current net short positioning in the GBP based on CFTC data alone appears to be a remnant of two things, primarily: the early 2013 GBP sell-off and the embedded GBP weakness inspired by the July BoE statement alongside the concurrent slump in UK rates, suggests Greg Anderson, Global Head of FX Strategy at BMO Capital Markets. Key quotes “With this in mind, the most likely avenue for shock in FX over tomorrow’s BoE event risk would appear to the upside in GBP/USD.” “Should the BoE formally adopt Fed/ECB-style forward guidance on rates and leave market participants on a purely data-dependent path, we think its unlikely that the GBP will remain below $1.5450, given the extent of upside surprises in the recent dataflow.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 6, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 7, 2013 Author Report Share Posted August 7, 2013 Flash: Yen Bid Ahead of BOJ Decision - BBH FXstreet.com (London) - Marc Chandler, Global Head of Currency Strategy at BBH highlights the BoJ. Key Quotes: “The BOJ's 2-day meeting concludes tomorrow. Although surveys show not expectations for new initiatives, a Bloomberg poll found that the vast majority of those queried expect the BOJ to increase the amount of its asset purchases in the coming months. Five see the action coming in the fourth quarter this year, 15 in H1 14, and 5 in H2 14 or later”. “The BOJ has revised up its assessment of the economy for seven consecutive months, but recent data has been disappointing and growth next year is anticipated to slow, partly under the weight of the controversial retail sales tax that is to be implemented in April 2014 and another hike in Oct 2015”. “The BOJ has successfully managed to stabilize the JGB market after a rise in both yields and volatility followed the announcement of very aggressive asset purchase program in about four months ago. The BOJ is buying JPY7 trillion (~$72 bln) a month of securities, mostly JGBs”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 7, 2013 OctaFX.Com News Updates FGBP/USD rally capped at 1.5530 region FXstreet.com (New York) - The GBP/USD foreign exchange rate surged higher throughout US trading, having jumped on the BoE, though the rally seems to have cooled recently. Presently, the GBP/USD is operating off its highs at 1.5532, now testing 1.5500 in these moments. Technically speaking, resistances will trigger for the pair at 1.5500, onto 1.5550, and 1.5570, notes the Technical Analyst Team at ICN.com. GBP/USD strategic bias The BoE Inflation Report was the Bank’s official start of forward guidance, and it’s hard to interpret the document as anything but dovish. In addition to clearly talking down rates—as they did in their July meeting – the Bank also upheld the potential for further QE if conditions warrant. According to the TD Securities Team, “Despite the clearly dovish implications of the report, it seems to have some credibility issues with the market, with the moves in GBP interest rate futures running counter to what would be expected. The GBP/USD reaction was initially negative, but has quickly turned and the currency is now at a fresh cycle high in the July/August bull run. The reaction may not be complete however, and today could remain a volatile day for the GBP.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 7, 2013 OctaFX.Com News Updates Flash: CAD Technical Outlook –TD Securities FXstreet.com (Barcelona) - Research teams at TD Securities offer their analyses on CAD. Key Quotes: “USD/CAD recovery stalls in the mid 1.04 area today but broader signals are very constructive and we look for the USD bull trend to get back on track quickly”. “Modest USD/CAD dips are a buy”. “EUR/CAD pushes through 1.38”. “AUD/CAD stabilizes but weak trend shows no sign of reversing”. “GBP/CAD spikes towards the upper end of the broader trading range”. “CAD/JPY downtrend pick up momentum again”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 7, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 7, 2013 Author Report Share Posted August 7, 2013 EUR/USD keeps pushing higher FXstreet.com (Edinburgh) - The bloc currency is inching higher on Tuesday, lifting the EUR/USD to another test of weekly highs around 1.3330. EUR/USD consolidating above 1.3300 The EUR rally is picking up pace in the European afternoon, bolstered by investors’ preference for riskier assets in detriment of the greenback, dragged to session lows – in terms of the Dollar index. According to weekly charts, Tim Riddell, Head of Global Markets Research at ANZ suggested, “Despite pockets of apparent impulsive price action, the broader profile remains that of a likely protracted consolidation pattern into year end. The near term show of strength could trigger an early push towards the upper bounds of the range, but the favoured profile is for failure in front of 1.35 and for an interim flush to define range support – beware bull-traps”. EUR/USD levels to watch At the moment the pair is up 0.0314 at 1.3324 and a breakout of 1.3345 (high Jul.31) would target 1.3417 (high Jun.19) en route to 1.3456 (high Feb.14). On the downside, the immediate support aligns at 1.3246 (low Aug.6) followed by 1.32233 (low Aug.5) and then 1.5200 (psychological level).FXstreet.com (Edinburgh) - The bloc currency is inching higher on Tuesday, lifting the EUR/USD to another test of weekly highs around 1.3330. EUR/USD consolidating above 1.3300 The EUR rally is picking up pace in the European afternoon, bolstered by investors’ preference for riskier assets in detriment of the greenback, dragged to session lows – in terms of the Dollar index. According to weekly charts, Tim Riddell, Head of Global Markets Research at ANZ suggested, “Despite pockets of apparent impulsive price action, the broader profile remains that of a likely protracted consolidation pattern into year end. The near term show of strength could trigger an early push towards the upper bounds of the range, but the favoured profile is for failure in front of 1.35 and for an interim flush to define range support – beware bull-traps”. EUR/USD levels to watch At the moment the pair is up 0.0314 at 1.3324 and a breakout of 1.3345 (high Jul.31) would target 1.3417 (high Jun.19) en route to 1.3456 (high Feb.14). On the downside, the immediate support aligns at 1.3246 (low Aug.6) followed by 1.32233 (low Aug.5) and then 1.5200 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 7, 2013 OctaFX.Com News Updates Precious metals consolidating, gold still held below 1300.00 FXstreet.com (New York) - Precious metals have been trading higher Wednesday, refusing to break lower below pre-established supports. Gold consolidates Gold prices have been consolidating within a tight range below 1288.00 resistance level, where the latest bearish wave continues to be intact, and thus the suggested bearish scenario. The price is approaching a pivotal support at 1268.00 which if broken will confirm further downside. At the time of writing, gold prices are trading at USD $1287.15 per oz. Wednesday. Silver support is intact Silver spot prices were pushing lower, attempting to break below 19.25 support level, so far the support is still intact – a sustained break below shall confirm further downside. The price of silver has now moved to USD $19.55 per oz. during US trading. WTI maintains neutrality WTI crude oil continues to fluctuate above the ascending support for the bullish wave, and below 105.85 resistance level, and thus the bias remains neutral, unless we see a break below or above the aforementioned levels. In these moments, WTI crude oil is negotiating a price of USD $104.93/bbl Wednesday. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 7, 2013 OctaFX.Com News Updates Flash: EUR/USD scope for 1.3417 – UBS FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses. Key quotes “With the EUR/USD bull trend intact, as reflected by the MACD above its zero line potential is for the pair to move above 1.3345 to test the key resistance at 1.3417. Support is at 1.3233 ahead of the critical 1.3120, suggesting a bullish outlook.” In terms of the EUR/CHF, “With the trending and momentum pointing lower potential remains for further downside. Support is at 1.2268 ahead of 1.2219. Upside should be limited with a strong resistance is at 1.2348.” Moving to the EUR/GBP, “Following the test of critical support at 0.8628, the cross advanced. Potential is for a move above 0.8694 to test the critical resistance at 0.8815.” Finally, concerning the EUR/JPY, “With the MACD still above the zero line, the risk is for further upside. Resistance is at 133.80. Any downside will again be held by strong support at 128.86.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 7, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 9, 2013 Author Report Share Posted August 9, 2013 USD/CAD hits ceiling at 1.0293 FXstreet.com (Chicago) - USD/CAD soared amid speculations on commodities demand triggered by positive Chinese production data but retraced shortly thereafter below 1.0293 zone. Price action indicated the pair respected supports at 1.0297 (July 31st lows), 1.0262 (July 24th lows) ahead of 1.0249 (July 29th lows) and resistances at 1.0300 (July 27th highs), 1.0312 (July 24th highs) followed by 1.0323 (July 20th lows) as it traded at 1.0290 at closing of American markets. The FXstreet trend index reported the pair as slightly bearish on one-hour timeframe analysis with daily losses adding up to 0.44% along a CCI indicator pointing down. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 9, 2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
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