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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Obama speech in Brussels: US authorises more exports of gas to the EU FXStreet (Łódź) - Speaking at the EU summit in Brussels, US President Barack Obama says that the EU will be able to receive as much gas from the US it needs. • Russia didn´t manage to "drive a wedge between Europe and the U.S." the president assures. • The cooperation of US and EU on sanctions against Russia is going well. Further measures are discussed. • Russia´s “isolation will deepen” if it continues in its current course. • "Our commitment to NATO is crucial for US and European national security." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 26, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
GBP/USD rises to nearly 1-week highs at 1.6565 FXStreet (San Francisco) - The Sterling climbed to highs since March 20 around 1.6565 against the US dollar as investors are trading in a risk on environment that boosted demand for high yielders. The GBP/USD is currently trading at 1.6550, 0.12% positive on the day. The short term perspective remains strongly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is neutral. GBP/USD sentiment "But there’s still a long way to go to call for a stronger recovery in Pound," Currency Analyst Valeria Bednarik at FXStreet said. "The pair has remains unable to sustain gains beyond 1.6535, 50% retracement of the same rally, and pulled back to the 1.6520 price zone". If the pair manages to consolidate gains above 1.6550, next resistances are at 1.6565 and 1.6600. On the downside, supports are at 1.6530, 1.6500 and 1.6480. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 26, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
AUD/USD keeps pushing higher FXStreet (Edinburgh) - The AUD keeps its relentless upside on Wednesday, lifting the AUD/USD beyond the 0.9200 mark and posting fresh 2014 highs at the same time. AUD/USD consolidates above 0.9200 After hitting multi-year lows around 0.8660 in late January, spot advanced in five out of the last eight weeks. A (now) neutral stance from the RBA in combination with better economic results from Oz made possible such a rebound, with the scenario now pointing to a stabilization in rates and a probable rate hike towards year-end, or early 2015. In the opinion of analysts at BBH, “The speculators in the futures market are still net short the Aussie, though the net position was cut by about 40% in the week through last Tuesday. This is largely a function of new gross longs entering… The next target for the new Aussie bulls is near $0.9340”. AUD/USD levels to consider A of writing the pair is up 0.70% at 0.9230 with the next resistance at 0.9300 (psychological level) followed by 0.9335 (high Nov.21) and finally 0.9403 (50-d MA). On the downside, a breakdown of 0.9137 (200-d MA) would target 0.9120 (low Mar.25) en route to 0.9100 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 26, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
US Durable Goods Orders registered at 2.2% to beat forecasts (1%) in February Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 26, 2014 OctaFX.Com News Updates -
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
US 4-Week Bill Auction dipped from previous 0.06% to 0.045% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 25, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
US Housing Price Index (MoM) registered at 0.8% to beat expectations (0.7%) in January Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 25, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/USD challenging 1.3800 FXStreet (Edinburgh) - The selling pressure has not given up on the single currency on Tuesday, dragging the EUR/USD to a test of the critical support at 1.3800. EUR/USD clings to 1.3800 Mixed data from manufacturing PMIs on Monday plus the same tone from today’s German IFO failed to give further impulse to the EUR. On the negative side, Bundesbank’s Weidmann comments regarding negative rates and quantitative easing in the euro area collaborated with the grim sentiment around spot. Shaun Osborne, Chief FX Strategist at TD Securities, suggested “we think the market has peaked and reversed at 1.3850. Losses below 1.3765—trend support, break down point and yesterday’s low more or less—will push the EUR sharply lower”. EUR/USD key levels The pair is now losing 0.20% at 1.3811 with the next support at 1.3804 (low Mar.25) followed by 1.3760 (low Mar.24) and ahead of 1.3749 (low Mar.20). On the flip side, a break above 1.3877 (high Mar.24) would target 1.3935 (high Mar.19) en route to 1.3944 (high Mar.18). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 25, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/USD: more than words - FXStreet FXStreet (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst comments that EUR/USD is easing down towards 1.3800 following Bundesbank President Weidmann recent statement. Key Quotes “(He) said negative rates could counter the impact of the strong euro and that QE is not out of the question. Indeed, the European Central Bank is concerned over the currency strength, as the higher the currency moves, the slow will be the economic recovery in the EU.Nevertheless, usually takes more than just words for authorities to be able to change market mind in term.” “Technically, the 4 hours chart shows price testing a flat 20 SMA, currently offering support around the 1.3800 figure, while indicators lost upward potential, and turned lower still in positive territory.200 EMA converges with the 38.2% retracement of its latest bullish run in the 1.3780 area which is the support to break to confirm another run lower, eyeing then 1.3740 in the short term.” “Daily high stands at 1.3846, a few pips below the 23.6% retracement of the same rally at 1.3850, key resistance level as only above the pair will be ready to resume the bullish trend.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 25, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
AUD/USD capped by 0.9160 FXStreet (Edinburgh) - The AUD/USD continues its march higher on Tuesday, although the bull run seems to have run out of legs around 0.9160. AUD/USD well supported by 0.9000 A favourable context for risk-associated assets plus the better sentiment around the Aussie as of late would be behind the current rebound from last week’s levels near 0.9000. The domestic docket offers only New Home Sales gauged by HIA (Thursday) of note, although traders would closely follow speeches by RBA’s Lowe (tonight) and Stevens (tomorrow). “A close above .9168 would imply a deeper rally to .9338, the 61.8% retracement”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank AUD/USD levels to consider At the moment the pair is advancing 0.14% at 0.9145 and a surpass of 0.9150 (high Mar.24) would expose 0.9152 (high Dec.11) and finally 0.9169 (high Dec.2). On the flip side, the initial support aligns at 0.9100 (trendline from April 2013) ahead of 0.9048 (low Mar.24) followed by 0.9032 (low Mar.21). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 25, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
UK inflation falls to October 2009 low FXStreet (London) - UK CPI has fallen in line with expectations, with February year-on-year inflation declining from 1.9 percent to 1.7 percent. The print indicates that UK headline inflation has fallen to its lowest level since October 2009. Core prices rose as had been predicted following two months of softer prints. February year-on-year core CPI rose to 1.7 percent from 1.6 percent last month. Lower fuel prices According to the Office for National Statistics, the slowdown in inflation came primarily from the price movements of motor fuels. Petrol prices fell by 0.8 pence per litre between January and February this year compared with a rise of 4.0 pence per litre between the same two months a year ago. Similarly diesel prices fell by 0.8 pence per litre this year compared with a rise of 3.7 pence per litre a year ago. Sterling climbs on CPI confirmation Sterling has rallied strongly against the euro on the confirmation of what many had expected. EUR/GBP fell to a low of GBP0.8376 immediately following the UK CPI data release by the ONS before seeing some recovery. The pair is currently down 0.12 percent on the session so far at GBP0.8377. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 25, 2014 OctaFX.Com News Updates -
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/USD: Did we over-react last week? - FXStreet FXStreet (Barcelona) - Goncalo Moreira CMT, FXStreet Technical Analyst comments that EUR/USD closed last week with a negative close-to-close performance of -0.85% (-118 pips), the largest weekly performance seen in six weeks. Key Quotes “Add to this the fact that the performance was the first negative one in seven weeks, and the conditions become ripe for a shift in sentiment. Contrary to what we would expect, the turn in the tide didn't cause a lot of dispersion among poll participants. With the expectation of a little rise in the shorter-term horizon, the mid- and longer-term coefficient of variation of the forecasts show a certain degree of consensus, specially the longer-term (3 month ahead) which is at historical lows.” “In the short-term: the central tendency measures, when smoothed together, are pointing below the weekly close (1.3796) at 1.3704. Interestingly, they were pointing at 1.3940, that is above the weekly close (1.3914) in the previous release, failing to predict the following weeks' performance. The result was -as seen in other times- when expectations are not met, there is a shift in the average forecast, this time of 240 pips to the downside.” “Remember that markets are able to discount future scenarios in the present price: therefore, more than being a predictive tool, the longer-term distribution of the participant's values is the one reflecting better the current sentiment. The correlation between the three-month forecasts and the actual close price at the future date stays at 6.38%, that is too low to make it a predictive tool in the long-run. But not in the short-term due to the discounting mechanism.” “In the longer-term we see a migration of many participants from sustaining a bearish bias towards showing a sideways stance. This migration may be due to the lower weekly close which may have turned into “sideways” some of the bearish forecasts from the weeks before. But fact is that there was a surprise.” “What does it mean for traders? Markets were caught by surprise by the hawkish comments from the Fed governor Yellen, following last week’s FOMC meeting, a fact which contrasted with the more dovish than before ECB. In that sense the USD is expected to out-perform the EUR in the long run based on the difference in Central Bank policies (hence the changes in the 3-month forecasts). But we cannot rule out more surprises in the form of economic data from the Euro-zone out-muscling that of U.S., for instance, in which case the euro could climb to 1.40 U.S. dollars and potentially beyond.” “To summarize: the combination of low dispersion with a sideways tilted bias is not the best technical situation in sentiment analysis to make us change our minds just yet. Therefore, I remain cautiously bullish in the short to mid-term awaiting for more surprises telling me that after all we over-reacted last week.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
USD/CAD down -0.06% on the day ahead of US Manu PMI FXStreet (Barcelona) - With USD/CAD making a daily high and low at 1.1248 and 1.1206 respectively, spot is currently trading at 1.1215, down -0.06% on the day so far. With a quiet economic calendar today, USD/CAD has been quite passive, and happy to range. Datawise, we have US Markit Manufacturing PMI ahead at 13:45 GMT, with expectations of a Monthly decline from 57.1 to 56.5. USD/CAD technical summary Daily RSI sits at 62.03, in neutral territory. Meanwhile, 2-Standard Deviation Volatility Bandwidth is at 249 pips and expanding on a daily chart. 13:00-14:00 GMT was the most volatile hour of the day, judging by the average hourly movement of 15 pips over the past four weeks. What are today’s USD/CAD pivot levels? The daily pivot can be found at 1.1215, with support below at S1 1.1213, S2 1.1211 and S3 1.1209, and resistance above at R1 1.1217, R2 1.1219, and R3 1.1221. Further, we can see a hammer like candlestick formation on the monthly chart. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
AUD/USD climbs to tops near 0.9120 FXStreet (Edinburgh) - The Aussie dollar not only regained the 0.9100 handle, but it is also pushing the AUD/USD to print fresh multi-day highs near 0.9120. AUD/USD extends the rebound The pair is now retracing the deep pullback post-FOMC gathering on March 19th, coming up from the vicinity of 0.8990 despite today’s weaker than expected Chinese manufacturing PMI. “Concerns over China’s economy and financial system aren’t likely to be allayed for some weeks, with press reports indicating substantial tolerance of further corporate defaults and the squeeze on spec yuan longs not complete. We are thus still short AUD/USD though the broad range should remain intact at least early in the week: support at the 55 day moving average of 0.8946, resistance at the 200dma at 0.9139”, observed analysts at Westpac Global Strategy Group. AUD/USD key levels The pair is now advancing 0.40% at 0.9119 with the next resistance at 0.9138 (high Mar.19) and then 0.9139 (200-d MA). On the downside, a breach of 0.9032 (low Mar.21) would target 0.9000 (psychological level) en route to 0.8995 (low Mar.20). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
GBP/USD flirting with 1.6500 FXStreet (Edinburgh) - After dipping to fresh lows near 1.6460, the GBP/USD managed to pick up pace is currently challenging the key barrier at 1.6500. GBP/USD decoupling from the EUR/USD The pair is now reverting the initial drop along with its European peer, recovering from a negative start and looking to regain 1.6500 the figure. In the view of Jane Foley, Senior Currency strategist at Rabobank, “the BoE currently looks set to hike rates before the Fed, ECB or the BoJ. For this reason, sterling could attract fresh buying interest in the coming months. While we expect a broad-based USD recovery to push cable lower by year-end, we expect EUR/GBP to push back towards the 0.81. Given that sterling longs have been cleared out in recent weeks, better UK economic data this week could lend the pound decent support”. GBP/USD levels to watch The pair is now up 0.04% at 1.6496 with the next resistance at 1.6520 (high Mar.21) ahead of 1.6550 (55-d MA) and finally 1.6570 (high Mar.20). On the downside, a break below 1.6453 (38.2% of 1.5854-1/6823) would open the door to 1.6425 (low Feb.12) and then 1.6392 (low Feb.11). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/USD consolidating around 1.3770 FXStreet (Edinburgh) - The shared currency is now trying to consolidate after the post-PMI decline, with the EUR/USD now meandering around 1.3770/65. EUR/USD attention to ZEW With the manufacturing and services PMIs now in the rear mirror, market participants would turn their focus on tomorrow’s German ZEW Survey. Spot would remain under pressure however, as market consensus expects Business Climate and Expectations components to come in a tad lower for the current month, while Current Assessment would marginally improve. Martin van Vliet, Analyst at ING Bank NV, assessed “the further weakening in the Chinese PMI and the relatively strong euro do not bode well for export growth momentum going forward and with unemployment still elevated and fiscal policy still contractionary, a strong revival in domestic demand seems unlikely going forward. That said, the further signs of recovery will encourage the ECB in refraining from further monetary easing, at least in the short term”. EUR/USD significant levels The pair is now losing 0.15% at 1.3773 and a breach of 1.3749 (low Mar.20) would open the door to 1.3722 (50% of 1.3477-1.3967) and finally 1.3720 (low Mar.6). On the upside, the initial hurdle aligns at 1.3827 (high Mar.24) ahead of 1.3845 (high Mar.20) and then 1.3862 (10-d MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Portugal Current Account Balance: €-0.185B (January) vs previous €0.881B Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24, 2014 OctaFX.Com News Updates -
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Canada Retail Sales ex Autos (MoM) came in at 1% to beat forecasts (0.9%) in January Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 21, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Canada: CPI (Feb) rose 1.1% YoY FXStreet (Edinburgh) -Canadian consumer prices rose 1.1% on a year through February, exceeding expectations at 0.9%. On a monthly basis prices gained 0.8%, vs. 0.6% estimated. The Bank of Canada Core CPI rose 1.2% over the last twelve months and 0.7% on a monthly basis, vs. forecasts at 1.1% and 0.5%, respectively. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 21, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Canada Bank of Canada Consumer Price Index Core (MoM) came in at 0.7% to beat forecasts (0.5%) in February Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 21, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
AUD/USD falters ahead of 0.9100 FXStreet (Córdoba) - The AUD/USD has continued moving higher throughout the European session, breaking above the 100-hour SMA to reach daily highs just a few pips shy of the 0.9100 mark. The AUD/USD advanced helped by the positive tone in stocks and climbed to a fresh post-FOMC high of 0.9091 before finding resistance. At time of writing, the pair is trading at the 0.9080 area, recording a 0.5% gain on the day. In the absence of news and with nothing in the US docket, trading might remain subdued the rest of the day. AUD/USD levels to watch In terms of technical levels, if the AUD/USD breaks above 0.9100 (psychological level), next resistances could be found at 0.9137 (Mar 19 high) and 0.9147 (200-day SMA). On the other hand, supports are seen at 0.9032 (100-day SMA) and 0.8994 (Mar 20 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 21, 2014 OctaFX.Com News Updates