OctaFX_Farid Posted March 24, 2014 Author Share Posted March 24, 2014 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 Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 25, 2014 Author Share Posted March 25, 2014 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 Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 25, 2014 Author Share Posted March 25, 2014 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 Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 25, 2014 Author Share Posted March 25, 2014 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 Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 25, 2014 Author Share Posted March 25, 2014 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 Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 25, 2014 Author Share Posted March 25, 2014 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 Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 25, 2014 Author Share Posted March 25, 2014 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 Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 26, 2014 Author Share Posted March 26, 2014 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 Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 26, 2014 Author Share Posted March 26, 2014 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 Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 26, 2014 Author Share Posted March 26, 2014 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 Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 26, 2014 Author Share Posted March 26, 2014 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 Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 27, 2014 Author Share Posted March 27, 2014 USD/CHF net on the day FXStreet (Guatemala) - USD/CHF has moved in on the downside and we are net on the session, with highs 0.8872 an lows 0.8841. Spot trades 0.8848 at time of writing. Meanwhile, the US came back with Initial Jobless Claims 311k vs 325k consensus and Continuing Jobless Claims 2.823m vs 2.875m consensus. PCE was noted .1% better than expected as well. Recent Fed speak Meanwhile, strategists at Rabobank pointed out that we had Fedspeak that saw Plosser argue that the US economy is in a “Pretty good place”. “He also backed QE ending in autumn, while the second speaker, Bullard, saw a bit more ambiguity on that front”. USD/CHF Levels The 20 DMA is 0.8801, the 50 DMA is 0.8907 and the 200 DMA is 0.9107. RSI (14) reads 59.28. Supports are ascending from 0.8787, 0.8801, 0.8813 and 0.8834. Spot 0.8848 while resistances are 0.8870, 0.8880, 0.8895 and 0.8930 OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 27, 2014 Author Share Posted March 27, 2014 GBP/JPY wrestles with 170.00 on profit taking FXStreet (Guatemala) - GBP/JPY rallied on upbeat data from the UK earlier and has taken a back seat for the time being, wrestling with 170.00. GBP/JPY got a lift when we saw the upside surprise for today’s retail sales data, with ex-fuel sales up 1.8% M/M in Feb (mkt 0.3%). Strategists at TD Securities noted, “The overall message is that consumer spending trends in the UK are still looking solid. We also had the minutes today from the BoE’s FPC meeting, but no smoking guns there…so far no signs of any impending macroprudential measures to dampen the UK housing market”. GBP/JPY—Risk, Fiscal Year-end, Taxes Strategists at TD Securities explained that there are a couple of key events on the radar for the JPY. “The March 31 fiscal year-end and the first stage of a two-step rise in the sales tax (from 5% to 8%) that will be implemented on April 1. The fiscal year-end usually conjures up thoughts of repatriation flows boosting the JPY; we can certainly see evidence of strong repatriation flows back to Japan in the last week of March”. However they said they would rather think investors will be more pre-occupied with the bump up in the sales tax which is likely to slow domestic growth significantly in Q2. “But we also have to acknowledge the chance that more significant losses for equities will drive safe-haven demand for the JPY”. GBP/JPY Levels The 20 DMA is 170.00, the 50 DMA is 169.75 and the 200 DMA is 161.50. RSI (14) reads 46.39. Supports are ascending from 167.50, 167.80, 168.15, 168.65, and 169.70, Spot is 169.97 while resistances are 170.55, 171.60 and 172.10. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 28, 2014 Author Share Posted March 28, 2014 USD/CAD rebounds off weekly lows USD/CAD is up 0.17% on the day at 1.1049, having previously posted a daily high at 1.1053 and a low at 1.0998. Stephen Gallo, European Head of Currency Strategy at BMO Capital Markets comments, “The fact that USD/CAD is flashing some important bearish signals cannot be ignored." He continues to add that, "These include the bearish fractal (daily) earlier in the week, the break of trendline support (from the Feb 19th low) and the 12-26 MACD. For those reasons, the 1.105-1.109 range should now provide some very good resistance over the near-term, and that resistance area may extend straight through to ADP and NFPs next week. A surprise easing from the ECB next week may also prevent USDCAD topside somewhat, by weighing on EUR/CAD.” He adds, “At this stage, there doesn’t really seem to be a logical reason for a move below 1.100 support, especially after 5 successive days of lower USD/CAD closes.” USD/CAD Technicals The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish. Currently RSI is at 76.52, up from the last hourly print at 56.25, with ADX at 38.72, up from its previous close at 35.84. Meanwhile, daily RSI is in neutral territory at 43.27. A declining 200 SMA on the hourly USD/CAD chart is currently at 1.1070, down from 1.1159 at the previous close. Moving with a downward trend, the exponential average closing price is 1.1118. The hourly USD/CAD chart is showing the 2-Standard Deviation Volatility Bandwidth is at 54 pips and shrinking, while the ATR (14) is currently at 10 pips. On a daily chart, 2-Standard Deviation Volatility Bandwidth is expanding at 268 pips. The average movement for the current hour has been for 10 pips per hour, over the last four weeks. 13:00-14:00 GMT was the most volatile hour of the day, judging by the average hourly movement of 42 pips over the past four weeks. USD/CAD Key Levels Current price is 1.1049, with resistance ahead at 1.1051 (Daily Classic PP), 1.1053 (Daily High), 1.1071 (Weekly Classic S1), 1.1088 (Daily Classic R1) and 1.1108 (Yesterday's High). To the downside we see next support at 1.1031 (Weekly Low), 1.1030 (Daily Open), 1.1030 (Hourly 20 EMA), 1.1013 (Yesterday's Low) and 1.0998 (Daily Low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 28, 2014 Author Share Posted March 28, 2014 USD/JPY; where did that come from? Up to 102.80 FXStreet (Guatemala) - USD/JPY has rallied on a weak performing Yen and is challenging upside levels of the mid point of the month. USD/JPY is up on the week as we draw a close to the days gone past which has offered 102.40, and there about, as a tough resistance. Nevertheless, USD/JPY has smashed that into touch and is looking for close on 103 perhaps? The only real explanation here is that equity markets are firm and US bond yields are higher - and of course 1st April means tax hike time! USD/JPY Levels The 20 DMA is 102.26, the 50 DMA is 102.42 and the 200 DMA is 100.56. RSI (14) reads 81.44 Supports are 101.49, 101.67, 101.83, 101.99, 102.34 and 102.49. Spot is 102.71 while next resistance is 102.86 ahead of 103.00’s OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 29, 2014 Author Share Posted March 29, 2014 RBA; downside risks, not upside– BAML FXStreet (Guatemala) - Analysts at Bank of America Merrill Lynch explained that they still look for downside risks to rates not upside. Key Quotes: “It remains our view that the RBA will potentially need to reduce rates further in the second half of this year. The basis for our forecast encompasses the still many challenges the economy must face over this and coming years”. “Despite recent encouraging data flow in some sectors, we believe it is premature to forecast rate rises this year. This is because we have seen very little of the decline in the mining investment cycle that is imminent. Further, there are few convincing signs of recovery in the non-mining economy outside of the housing sector”. “Indeed, we suspect that if rates were to be raised in the second half, a resulting higher dollar would weigh on the recovery in non-mining sectors; the housing recovery would not deliver fully in terms of potential growth; and renewed pressure would be exerted on household budgets”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 29, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 31, 2014 Author Share Posted March 31, 2014 Tensions around Ukraine keep easing - BTMU FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, observes that geopolitical tensions around Russia and Ukraine are diminishing. Key Quotes "Investor concerns over the threat posed by escalating geopolitical tensions related to developments in the Ukraine have also continued to ease in the near-term after US Secretary of State Kerry and Russian Foreign Minister Lavrov met yesterday in Paris with further talks also expected to seek an acceptable outcome to Ukraine. According to Interfax news service, Russian Foreign Minister Lavrov stated that he was in agreement with Kerry on “the need to seek common ground on the diplomatic path for an exit from this situation that will meet the interests of the Ukrainian people”." "Russia wants the Ukraine to grant greater powers to its regions, have a non-aligned status outside NATO, and make Russian an official second language. US Secretary of State Kerry stated that “any real progress in the Ukraine must include a pullback of very large Russian force that is currently massing along the Ukraine’s borders”." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 31, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 31, 2014 Author Share Posted March 31, 2014 USD/CAD testing 1.1000 on data FXStreet (Edinburgh) - The Canadian dollar is now gathering pace against its neighbour on Monday, dragging the USD/CAD to test the key barrier at 1.1000. USD/CAD weaker after data, Yellen Spot is extending last week’s deep pullback, testing last Friday’s lows near 1.1000 the figure after Canadian GDP figures surprised to the upside, expanding at a monthly pace of 0.5% vs. forecasts for 0.4%. Next on tap of note will be a speech by Chairwoman J.Yellen. In the opinion of Shaun Osborne, Chief FX Strategist at TD Securities, the pair “is adopting a slighter better offered tone as our session gets underway but, with the overhang of CAD short positions reduced, some key data releases ahead and USD-Canada spreads in the short end and belly of the curve still moving towards more USD-supportive levels, we look for limited USD losses and good support near 1.10”. USD/CAD levels to watch The pair is now losing 0.45% at 1.1010 with the next support at 1.1001 (low Mar.28) followed by 1.0962 (Up tL from 1.0271). On the flip side, a breakout of 1.1061 (daily cloud top) would aim for 1.1106 (high Mar.27) and finally 1.1140 (daily Kijun). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 31, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 31, 2014 Author Share Posted March 31, 2014 USD/CAD tests 1.1000 FXStreet (San Francisco) - The USD/CAD declined around 60 pips in the early American morning to test the 1.1000 key level where the pair found support. Now it is pricing back at 1.1020. Having made a daily high at 1.1069 and low at 1.1000, USD/CAD spot is down -0.31% on the day and presently trading at 1.1025. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. Currently RSI is at 35.06, down from the last hourly print at 38.29, with ADX at 13.34, up from its previous close at 12.78. Looking to momentum indicators, the hourly 200 SMA is currently at 1.1045, down from the last close at 1.1155 and declining. USD/CAD levels With spot trading at 1.1020, we can see next resistance ahead at 1.1031 (Weekly Low), 1.1045 (Hourly 20 EMA), 1.1046 (Daily Classic PP), 1.1066 (Daily Open) and 1.1069 (Daily High). To the downside we see next support at 1.1012 (Daily Classic S1), 1.1001 (Daily Low), 1.0998 (Yesterday's Low), 1.0992 (Monthly Low) and 1.0965 (Daily Classic S2). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 31, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 31, 2014 Author Share Posted March 31, 2014 Yellen's dovish words send dollar down FXStreet (Łódź) - Fed Chairwoman Janet Yellen, who spoke at a conference in Chicago on Monday, defended the central bank's easy monetary policy stance saying that it was aimed at reducing the still considerable slack in the US economy and the labor market. Yellen stressed that the Fed's "extraordinary commitment," to stimulus was still necessary and would be for some more time. She also hinted that interest rates would be kept low for an extended period. The Fed head listed the large numbers of part-time workers and long-term unemployed, low wage growth, and the decline in labor force participation as indications of the continuing slack in the US labor market. She also pointed out that for some Americans the current economic situation was tougher than during the recession. Stocks spiked following Yellen's comments and the EUR/USD jumped to 1.3806. In the opinion of Jamie Coleman from FXBeat “she is trying to change whatever perception there may have been that rates will automatically go up six months after the taper ends this fall.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 31, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 31, 2014 Author Share Posted March 31, 2014 USD/JPY taking a nose dive, target 102.85? FXStreet (Guatemala) - USD/JPY has dived into shallower waters and is testing the 103 handle as next key support through congestion at 103.20. JPY a bad performer Strategists at TD Securities explained that the JPY has been the worst-performing currency over the month and finishes off the poor run with a broad under-performance. USD/JPY Levels The 20 DMA is 102.31, the 50 DMA is 102.39 and the 200 DMA is 100.59. RSI (14) reads 74.75. Supports are ascending from 101.99, 102.25, 102.39, 102.69, and 102.85. Spot is103.02 with resistances at 103.10, 103.25 and 103.43. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 31, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 1, 2014 Author Share Posted April 1, 2014 Japan Tankan Non - Manufacturing Outlook missed expectations (16) in 1Q: Actual (13) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 1, 2014 Author Share Posted April 1, 2014 GBP/USD extends the decline to 1.6630 FXStreet (Edinburgh) - The offered tone is now intensifying around the sterling, dragging the GBP/USD to session lows near 1.6630. GBP/USD hurt by data The poor result from March’s manufacturing PMI released today (55.3 act. vs. 56.7 exp.) added to Monday’s set of disappointing data from BoE’s mortgage figures and consumer credit, pushing spot from recent highs around 1.6680 to current levels. “GBP-USD is expected to remain mixed, bounded by 1.6600 down south and with 1.6700 likely to serve as a near term resistance”, noted Emmanuel Ng, Strategist at OCBC Bank. Ahead in the week, the next relevant release would be house prices gauged by Nationwide (Wednesday) and the more significant Services PMI (Thursday). GBP/USD levels to consider As of writing the pair is retreating 0.14% at 1.6638 and a breakdown of 1.6613 (low Mar.31) would open the door to 1.6599 (low Mar.28). On the flip side, the initial hurdle aligns at 1.6719 (high Mar.13) followed by 1.6745 (high Mar.10) and finally 1.6800 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 1, 2014 Author Share Posted April 1, 2014 S&P hits new intraday record high S&P hits new intraday record high S&P 500 rose to a new intraday record high of 1884.46 on Tuesday, following the release of US ISM Manufacturing PMI data which came in weaker than expected, while the Employment Index fell to 9-month low. The Dow Jones Industrial Average grew 0.7% to 16565. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 1, 2014 Author Share Posted April 1, 2014 GBP/USD trading lower today FXStreet (Buenos Aires) - After 6 days in a row of upward impulse, the GBP/USD trades lower this Tuesday affected by a disappointing UK PMI reading. Nevertheless, the movement remains barely corrective, with the pair shedding barely a 20% of its latest gains, anchored above the 1.6600 figure ahead of key major economic releases later this week. Short term bearish potential http://www.fxstreet.com/analysis/daily-opportunities/2014/04/01/ According to Isvan Varkonyi from Marketprog Ltd. “the $1,6650 level proves to be problematic. The exchange rate has reached the point where it needs to decide whether it goes for a correction after this gain or if it climbs higher after this brief stagnation. The key levels are at $1,6625, at the support trend line, and at $1,6660. If it breaks down below the former then we should see a correction all the way to $1,66 but in case of a breakout above the latter then the cable might inch higher, targeting the far away rate of $1,6755.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 01, 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.