OctaFX_Farid Posted January 23, 2014 Author Share Posted January 23, 2014 USD/JPY extends below 104.00 FXstreet.com (Edinburgh) - The USD/JPY is extending its intraday decline on Thursday, as the greenback continues to weaken amidst downbeat data in the US economy and renewed JPY strength. USD/JPY still bullish Despite today’s correction lower, most analysts rule out any change in the main bullish perspective, although today’s decline should be followed carefully. In the opinion of strategists at the Swiss bank UBS, “While today’s aggressive selloff in USDJPY doesn’t mark an outright bearish reversal, it certainly suggests that the pair is entering into an extended correction. Our main concern is that the current weakness has not only failed below the previous high of 105.48 on Jan 2, it has broken support as at Monday’s 103.85 low, suggesting a pattern of lower highs and lower lows”. USD/JPY relevant levels At the moment the pair is losing 0.75% at 103.71 with the immediate support at 103.00 (low Jan.14) ahead of 102.85 (2014 low Jan.13) and then 102.56 (low Dec.18). On the upside, a break above 104.15 (MA200h) would expose 104.55 (MA21d) and finally 104.84 (high Jan.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 23, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 24, 2014 Author Share Posted January 24, 2014 AUD/USD for 0.85? FXstreet.com (Guatemala) - AUD/USD has reclaimed the 0.87 handle after a punishment of sellers hitting the unit down through the figure from 0.8760. The pair was hit after RBA’s Ridout saying AUD near 0.80c would be a fair deal. Then China came issuing alerts on credit risks in the coal industry. The pair wasn’t below 0.87 in three years. Some analysts expect pressure to build as we head towards 0.8500 with there only being real support in 0.8630/40. AUD/USD Levels The 20 DMA is 0.8894, the 50 DMA is 0.9004 and the 200 DMA is 0.9332. RSI (14) reads 52.95. Supports are ascending from 0.8560, 0.8630/40. Spot is 0.8717 with resistances at 0.8775, 0.8815, 0.8858 and 0.8889. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 24, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 27, 2014 Author Share Posted January 27, 2014 Flash: EUR/USD forecast poll shows reflexivity theory at works - FXStreet FXstreet.com (Barcelona) - Goncalo Moreira CMT, FXStreet Technical Analyst notes that the latest data for the FXStreet Currencies Forecast Poll, released on Friday, reveals an interesting behavioural pattern: in the last 51 weeks our poll participants got the market direction right 27 weeks, a little bit more than the 50% of the time. Key Quotes “This week, for the first time the average forecast coincides, furthermore, with the euro close price around 1.37. Interestingly enough, taken as a group, poll participants were correctly forecasting 1.37 four weeks ago, but they got it blatantly wrong (insist, as a group) forecasting 1.35 in their short-term views just one week before on January 17th.” “A correlation of 54% is not enough to attribute the one-month-ahead prognosis with any forecast capacity. Worth mentioning, in turn, is the very high correlation the short-term views usually have with the one-week-ahead close price, which is above 80%.” “Although last Friday's close exceeded the close from two weeks ago, when the data suggested that “more traders went from remaining cautiously bullish to openly enthusiastic”, this week's poll points to a lower rise in price. A rise in short-term expectation which is can be seen as value chasing price.” “At a first glance, the predominant red colour on our dashboard hasn't changed. But comparing the relative frequency of bullish and bearish biases extracted from the most recent data and from the week before, the most notable change we notice is the increase in optimism in the short-term, now encompassing 28% of the polled participants after bottoming below 10% last week.” “What does this means for traders? Despite seven weeks of alternation between positive and negative performances in the EUR/USD, never was the uniformity among participants so high as last Friday. Misinterpreted as a message to go with our friend the trend, we should have taken this consensus of opinion as a reason to adopt a contrarian approach. Unless this market leaves the 1.35-1.37 range behind we will be fooled by value chasing price. This is reflexivity theory at works.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 27, 2014 Author Share Posted January 27, 2014 US New Home Sales Change (MoM) down to -7% in December from -3.9% (November) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 27, 2014 Author Share Posted January 27, 2014 US January Dallas Fed Manufacturing Business Index improves to 3.8 vs 3.7 (February) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 27, 2014 Author Share Posted January 27, 2014 EUR/USD off lows after mixed US data FXstreet.com (Córdoba) - The EUR/USD saw a short-lived bounce at the beginning of the New York session after the latest string of US data came in mixed. While the US Markit services PMI came in stronger-than-expected in January, December's new home sales disappointed and the Dallas Fed manufacturing index came in in line with forecast. The EUR/USD barely reacted to the data, moving off lows to an hourly high of 1.3675 where the 55-hour SMA halted the recovery. EUR/USD flat on the day At time of writing, the EUR/USD is trading at the 1.3665 area, virtually unchanged since opening. In terms of technical levels, the EUR/USD could find immediate resistances at 1.3678 (55-hour SMA), 1.3700 (psychological level) and 1.3716 (Jan 27 high). On the other hand, supports are seen at 1.3652 (Jan 27 low), 1.3640 (21-day SMA) and 1.3600 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 28, 2014 Author Share Posted January 28, 2014 US Consumer Confidence up to 80.7 in January from 77.5 in December Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 28, 2014 Author Share Posted January 28, 2014 US: Consumer Confidence improves to 80.7 in January FXstreet.com (Barcelona) - US Consumer Confidence rose to 80.7 in January, from 77.5 in December, according to data released by the Conference Board. Analysts expected less growth to 78.1. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 28, 2014 Author Share Posted January 28, 2014 US: Richmond Fed Manufacturing Index slides a notch in January FXstreet.com (Barcelona) - The Richmond Fed Manufacturing Index dropped to 12 in January from 13 in December, the Federal Reserve Bank of Richmond informed on Tuesday. Analysts expected the indicator to remain at 13. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 28, 2014 Author Share Posted January 28, 2014 US: Richmond Fed Manufacturing Index slides a notch in January FXstreet.com (Barcelona) - The Richmond Fed Manufacturing Index dropped to 12 in January from 13 in December, the Federal Reserve Bank of Richmond informed on Tuesday. Analysts expected the indicator to remain at 13. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 28, 2014 Author Share Posted January 28, 2014 GBP/USD extends the correction, tests 1.6580 FXstreet.com (Edinburgh) - The selling interest is now dragging the GBP/USD to the area of 1.6585/80 after an unsuccessful attempt to follow through 1.6620. GBP/USD softer after GDP numbers The UK economy expanded at an annual pace of 2.8% and 0.7% inter-quarter. However the expansion was broadly in line with previous estimates, it seems that market participants were wishing for another upside surprise as evidenced by the knee-jerk to sub-1.6540 levels in the wake of the data. In the opinion of Ross Walker, Analyst at RBS, “Overall, the latest GDP data show economic growth being sustained over a full year and therefore provide the most compelling indication that the recovery is becoming more secure and a more 'normal' cycle is underway… The RBS forecast is for GDP growth of 2.7% in 2014. The Consensus Economics survey pitches the consensus forecast for 2014 UK GDP at 2.6% – among the major economies, only the US is expected to grow faster (2.8%)”. GBP/USD levels to watch At the moment the pair is down 0.01% at 1.6580 a break below 1.6471 (low Jan.27) would expose 1.6452 (low Jan.22). On the upside, the initial hurdle aligns at 1.6627 (high Jan.28) ahead of 1.6668 (2014 high Jan.24) and then 1.6700 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 29, 2014 Author Share Posted January 29, 2014 EUR/USD challenges lows at 1.3650 FXstreet.com (Edinburgh) - The selling pressure is now sharpening in the shared currency, dragging the EUR/USD to test session lows around 1.3635/30. EUR/USD softer pre-FOMC The pair is now threatening to breach weekly lows posted on Tuesday just below 1.3630, as the greenback continues to gather traction ahead of the FOMC gathering. “We rather think the Fed will stay focused on the domestic economy—stronger and no longer in need of emergency support—and stay the course on reducing asset purchases established at the December meeting”, observed Shaun Osborne, Chief FX Strategist at TD Securities. EUR/USD levels to consider As of writing the pair is losing 0.23% at 1.3637 and a break below 1.3620 (10-d MA) would open the door to 1.3594 (100-d MA) and then 1.3564 (daily cloud base). On the upside, the initial barrier lies at 1.3689 (high Jan.28) followed by 1.3716 (high Jan.27) ahead of 1.3740 (high Jan.24). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 29, 2014 Author Share Posted January 29, 2014 EUR/USD pone a prueba 1.3600 FXstreet.com (Edinburgh) - El EUR/USD permanece bajo intensa presión vendedora hoy miércoles, cayendo hasta testear el soporte crítico de 1.3600. EUR/USD en mínimos de 4-días El par ya ha dejado atrás las ganancias iniciales de la semana, aunque parece haber encontrado decente contención en la zona de 1.3605/00 por ahora, mientras la comunidad FX se alista para la decisión de la Fed prevista para la tarde-noche en Europa. Pobres datos en el bloque de lo préstamos privados y de la oferta monetaria M3 estarían también colaborando en el sentimiento. En vista de esto último, analistas en BBH han comentado que “esto podría aumentar las especulaciones, acerca de la reunión del BCE de la semana venidera. Sin embargo, los números de los préstamos no estarían deprimidos por el precio del dinero, por lo que un nuevo recorte sugerido por algunos analistas, sería poco probable. Tal vez uno de los eventos más importantes de Davos haya sido la sugerencia de Draghi que el banco central podría comprar bonos sostenidos por préstamos a consumidores y empresas”. EUR/USD niveles relevantes A la hora de redactar el par retrocede 0.38% en 1.3617 y de penetrar 1.3594 (100-d MA) habilitaría 1.3564 (base diaria de la nube). Por la senda alcista, la primera resistencia se localiza en 1.3689 (máx. ene.28) seguida por 1.3716 (máx. ene.27) y por último 1.3740 (máx. ene.24). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 29, 2014 Author Share Posted January 29, 2014 USD/JPY extends the decline FXstreet.com (Córdoba) - The USD/JPY came under renewed pressure during the New York session as risk sentiment deteriorated and accelerated lower after breaking below the 102.50 area. As investors gear up for the Fed decision, the USD/JPY triggered stops and fell deeper into the red, hitting a 2-day low of 102.13 in recent dealings. At time of writing, the USD/JPY is trading at the 102.20 zone, recording a 0.7% loss on the day, and not far from its multi-week low scored Monday at 101.76. USD/JPY technical outlook "Yesterday's high at 103.42 was actually a test of 103.50 resistance and my outlook here is already bearish, for a slide through 101.72 low, en route to 100.60", said Stoyan Mihaylov, analyst at DeltaStock.com. "Crucial resistance on the upside is 103.85". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 29, 2014 Author Share Posted January 29, 2014 EUR/USD bounces at 1.3600, back to 1.3675 FXstreet.com (San Francisco) - The Euro's decline against the US Dollar from 1.3680 found support at the 1.3600 area, nearly 1-week lows, where the EUR/USD has bounced to trade back at 1.3675. Poor EMU data from Private Loans and Money Supply during December would be collaborating with the downside, while emerging markets continue to see another day of currencies’ strong devaluation, complicating the financial scenario. Stop hunting below 1.3630 fueled the downside, but the 1.3600/10 area (key level and 200-hour MA) worked as strong support. "Just your garden-variety 60 pip bounce in EUR/USD...euro must be a safe-haven all of a sudden...," comments FXBeat Jamie Coleman. "Volatility is running high as emerging markets come under attack and then stabilize." EUR/USD bias The EUR/USD is currently trading flat on the day at 1.3670. The short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart. CCI and Momentum are pointing to the north while the MACD is bearish while the Stochastic is neutral. On the upside, the initial barrier lies at 1.3689 (high Jan 28) followed by 1.3716 (high Jan 27) ahead of 1.3740 (high Jan 24). On the bearish option, a break below 1.3594 (100-d MA) would expose 1.3564 (daily cloud base). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 29, 2014 Author Share Posted January 29, 2014 BoE's Carney: Rates to remain low until recovery takes hold FXstreet.com (Łódź) - Bank of England governor Mark Carney said on Wednesday that interest rates would remain unchanged for some more time in order to allow the recovery to take hold. Once the time came to raise them, it would be done only gradually, he assured. Speaking in Edinburgh on Scottish independence, Carney said he expects the strong pound to induce benign inflation and consumption growth to slow. He signaled that the MPC would present the modifications to the forward guidance policy soon. “No doubt backing away from 7% unemployment threshold,” as Jamie Coleman commented on FXBeat. Addressing Scottish business leaders, Carney pointed to the need of ceding some of national sovereignty if Scotland became independent, but continued using the pound. A banking union and strict fiscal rules would be essential to fend off problems such as those experienced by the Eurozone. "Those risks have been demonstrated clearly in the euro area over recent years, with sovereign debt crises, financial fragmentation and large divergences in economic performance," Carney said. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 30, 2014 Author Share Posted January 30, 2014 GBP/USD looks to retake 1.6500 FXstreet.com (Edinburgh) - After bottoming out near 1.6440 post-UK data, the GBP/USD is now attempting a bounce back to the 1.6500 handle. GBP/USD netting an even week so far The pair is falling for the third consecutive session so far amidst another significant sell-off in the EM universe post-Fed’s taper, fully retracing Monday’s steep advance. In the same direction, mixed-to-soft data from the UK calendar would also be collaborating with the downside. “A close below the 1.6259 support should then be enough to signal losses to the 1.5855 November low”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. GBP/USD levels to watch At the moment the pair is losing 0.43% at 1.6481 with the next support at 1.6446 (61.8% of 1.6309-1.6666) followed by 1.6400 (low Jan.21) and then 1.6396 (low Jan.20). On the upside, a surpass of 1.6565 (high Jan.30) would expose 1.6606 (high Jan.29). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 30, 2014 Author Share Posted January 30, 2014 USD/JPY extends advance to 102.70 after GDP data FXstreet.com (San Francisco) - The US dollar is trading higher against the Japanese yen as the pair is extending advance following the US GDP numbers. After a bounce at 102.15 in the European session, the USD/JPY was rising to test 102.70. The USD/JPY is currently pricing at 102.65, 0.45% positive on the day. The short term perspective is 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. USD/JPY levels Above the 102.70, the USD/JPY would face resistances at 103.15 and 103.45. On the downside, supports are at 102.50, 102.10 and 101.85. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 30, 2014 Author Share Posted January 30, 2014 EUR/USD extends decline after US data FXstreet.com (Córdoba) - The EUR/USD extended losses to fresh 1-week lows after the latest string of US data came in mostly in line with expectations. The US annualized gross domestic product grew 3.2% in the fourth quarter, meeting market's expectations. Meanwhile, initial jobless claims rose by 19,000 to 348,000 last week, missing forecast of 330,000. The EUR/USD stretched to a fresh 1-week low of 1.3567 after the data before bouncing slightly. At time of writing, the EUR/USD is trading around 1.3580, recording a 0.2% loss on the day. EUR/USD technical outlook From a technical view, Valeria Bednarik, chief analyst at FXStreet.com commented that as long as below 1.3590 bears would lead the way, with next supports at 1.3550 and 1.3510. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 30, 2014 Author Share Posted January 30, 2014 AUD/USD gathers traction, eyes 0.8800 FXstreet.com (Edinburgh) - The Aussie dollar is picking up pace now, pushing the AUD/USD levels beyond 0.8780 after the US docket. AUD/USD supported around 0.8700 The pair sold off to the vicinity of 0.8700 the figure overnight, after the Chinese manufacturing PMI sponsored by HSBC disappointed investors at 49.5 during January. However, spot managed to rebound and is currently printing fresh intraday highs beyond 0.8780 after the weekly report on the US labour market showed an increment of claims last week and the US economic activity expanded in line with estimates 3.2% YoY in Q4. AUD/USD key levels The pair is now up 0.62% at 0.8784 with the next resistance at 0.8821 (high Jan.28) ahead of 0.8853 (high Jan.23) and then 0.8889 (high Jan.22). On the downside, a break below 0.8727 (low Jan.28) would aim for 0.8678 (low Jan.27) and finally 0.8660 (low Jan.24). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 30, 2014 Author Share Posted January 30, 2014 EUR/CHF creeps higher on declining CHF haven demand FXstreet.com (London) - EUR/CHF is grinding back some ground after sharp declines in the pair on haven demand for the Swiss franc earlier this week. The pair hit a low of CHF1.2213 yesterday on continuing fears over EM contagion after the Turkish central bank was forced to drastically hike rates to try to slow Turkish lira weakness. KoF indicator misses expectations There was a slight knock for CHF with the publication of the monthly KoF leading indicator, a composite of business surveys from various sectors of the Swiss economy published by the Swiss Institute for Business Cycle Research (KOF). The index, designed to give a forecast of GDP growth for the next quarter, came in at 1.98, just below expectations of 2.0. EUR/CHF remains in bullish territory, trading at CHF1.2245, just below a session high of CHF1.2249. However, further upside may be capped by today’s weak Eurozone data. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 31, 2014 Author Share Posted January 31, 2014 Flash: GBP/USD a February sell? - Societe Generale FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale believes that amongst other things GBP/USD is a sell in February. Key Quotes "Other 'things to do' for February include buying bank credit vs corporates, buying red short sterling futures vs Eurodollars, and selling Cable.” “As for today, US PI, PCE, U-Mich and Chicago PMI will keep us busy this afternoon. We've already seen another little tick lower in Spanish CPI to 0.2% y/y, and we should confirm that the Euro Area unemployment rate is steady now at a mere 12.1%, later. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 31, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 31, 2014 Author Share Posted January 31, 2014 US December Core Personal Consumption Expenditure - Price Index (MoM) steadies at 0.1% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 31, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 31, 2014 Author Share Posted January 31, 2014 US: PCE rose 1.1% YoY in December FXstreet.com (Edinburgh) - The US Commerce Department informed that the US inflation, measured by the Personal Consumption Expenditures, rose 1.1% YoY during December. The Core reading, which strips the food and energy costs, rose 1.2% over the last twelve months and 0.1% MoM. Personal Income came in flat vs. 0.2% expected and previous while Personal Spending rose 0.4%, surpassing forecasts at 0.3% and down from 0.6% (revised). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 31, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 31, 2014 Author Share Posted January 31, 2014 EUR/USD falls below 1.3500 FXstreet.com (Córdoba) - The EUR/USD extended losses and printed a fresh 2-month low at the beginning of the American session after the latest string of US data. The US consumer spending rose 0.4% in December while personal income fell 0.2%. Meanwhile, data showed PCE price index increased just 1.1% across 2013, well below the Fed's target of 2%. As for the EUR/USD, the pair accelerated lower and hit a low of 1.3496 so far, and continues to trade near lows, recording a 0.4% loss Friday, its fourth daily decline in a row. EUR/USD weighed by ECB expectations "Growing expectations that the ECB will trim rates as early as next Thursday are fueling a continued slide in EUR/USD", says Jamie Coleman, Editor at FXBeat. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 31, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.