Jump to content

Exchange Blog Cryptocurrency Blog


All Pips



DMT Advertisement Details

OctaFX.Com - Financial News and Analysis

OctaFX_Farid

By OctaFX_Farid
in Technical Analysis

 Share

Recommended Posts

  • Replies 3.5k
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


US economy posted strong GDP in Q2 - BTMU

 

 

FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, underlined the solid data from US GDP in the second quarter.

 

Key Quotes

 

"The report revealed that the US economy rebounded more strongly than expected after the sharp contraction in Q1 providing further reassurance that it was only a temporary slowdown. Real GDP expanded by a robust annualized rate of 4.0% in Q2 which was boosted by a large inventory build adding 1.66 percentage points."

 

"The underlying pace of growth firmed with personal consumption growth accelerating to an annualized rate of 2.5% and capital investment expanding by an annualized rate of 7.0%. There were also upward revisions to growth in the previous three quarters revealing that economic growth was stronger over the past year."

 

"As a result of the revisions and despite the temporary economic contraction in Q1, real GDP expanded on average by annual rate of 2.4% over the last twelve months accelerating from an expansion of 2.0% in the previous twelve months. The report reinforces our view that the US dollar will likely continue to strengthen in the year ahead alongside the strengthening US economy. The release yesterday of the latest ADP survey also revealed that employment growth likely remained robust in July remaining consistent with non-farm employment increasing in line with its’ average over the last six months of around 230kjobs/month."

 

 

 

 


 

 

July 31, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


USD Strength Hurting the Canadian Dollar - ForexTrading.TV

 

 

FXStreet (Łódź) - Nick Jordan, currency analyst at ForexTrading.TV, observes that the strength of the greenback has been hurting the Canadian dollar and wonders if we will see the 1.10 level shortly.

 

 

 

 

 


 

 

July 31, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


EUR/USD falls to 1.3370 after US Data

 

 

FXStreet (San Francisco) - The Euro broke below the 1.3380 support against the US dollar and now it is testing the 1.3370 following US jobless claims and employment cost index data.

 

Employment cost index advances 0.7% in Q2; biggest rise since Q2 2011; on the other hand, initial jobless claims rose to 302K new claims in the Jul 25 week while previous week was revised down to 279K from 284K.

 

Currently, EUR/USD is trading at 1.3395, down 0.10% on the day, having posted a daily high at 1.3416 and low at 1.3367. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish. 

 

EUR/USD sentiment

 

"So far we've been down to 1.3372, near the 1.3368 lows posted a bit over 24 hours ago," comments Jamie Coleman from FXBeat. "US yields continue to rise, up another 5 bp this morning to 2.605%. 1.3350 barriers are the next hurdle for EUR/USD."

 

 

 

 


 

 

July 31, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


USD/CAD climbs to 1.0930

 

 

FXStreet (Edinburgh) - The USD gained further impulse on Thursday following the release of the US and Canadian dockets, briefly lifting the USD/CAD to session peaks near 1.0930.


USD/CAD firmer despite US releases

 

After hitting multi-week tops in the vicinity of 1.0930, spot is now returning to the comfort zone around 1.0920/15, following mixed data from the US economy: Initial Claims increased to 302K in the week ended on July 25th vs. estimates at 301K, while the Employment Cost index rose above forecasts 0.7% during the second quarter. On the other hand, the Canadian economy expanded at a monthly pace of 0.4% in May, surpassing both estimates and April’s print. “USDCAD still trades ‘rich’ relative to its current main drivers, but despite that ‘richness’, we can highlight three reasons for the upward bias in the pair: long USD positioning is adjusting upwards to align with rate differentials and market sentiment, AUD and CAD are moving lower to catch up with currencies like EUR, NZD, NOK and SEK which have been weaker for longer, and the main drivers of USDCAD may be migrating towards interest rate differentials which are very much in the USDs favour”, assessed Stephen Gallo, European Head FX Strategy at BMO.

 

USD/CAD levels to consider

 

As of writing the pair is up 0.12% at 1.0916 and a breakout of 1.0949 (50% of 1.1279-1.0620) would aim for 1.0962 (high Jun.5) and then 1.1007 (high May 2). On the downside, the immediate support lines up at 1.0900 (low Jul.31) ahead of 1.0850 (low Jul.30) and finally 1.0840 (200-d MA).

 

 

 


 

 

July 31, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank

 

 

FXStreet (Edinburgh) - The EUR/USD is seeing a recovery attempt to the 1.3400 handle today, despite the softer tone from the final manufacturing PMIs in Euroland and ahead of July’s Payrolls.

 

“We are waiting for a rebound to reinstate shorts and are not willing to chase this lower as momentum indicators remain in oversold territory. Nonetheless following the demise of the 2 month uptrend we remain in sell the rally mode, and a negative bias will remain entrenched below the 1.3535 2 month downtrend”, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank. 

 

In addition, FX Strategist Emmanuel Ng at OCBC Bank, suggested, “Note that the pair has leaked below 1.3400 this week and a sweater may be in order for EUR bulls as the balance of risks emanating from the US/EZ headline flow (ECB meeting next Thursday) may continue to guide the pair towards the 1.3300 neighborhood in the coming sessions”.

 

 

 


 

 

Aug 01, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


EUR/USD hinging on upcoming US NFP data - FXStreet

 

 

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik comments that the EUR/USD remains in wait and see mode ahead of the release of crucial US employment numbers for July. 

 

Key quotes

 

"Earlier on the day, Europe suffered another economic setback, with local manufacturing PMIs missing expectations, albeit the pair ignored the news."

 

"Right now, everything depends on US Payrolls: if the data is stronger than expected, investors will likely turn back to the greenback, and self EUR weakness may do the rest."

 

"A break below recent low of 1.3370 should lead to a quick extension towards the 1.3320/30 price zone, with a final target at 1.3295, past November monthly low."

 

"On the other hand, data needs to come below 200K to be considered disappointing, and may trigger some upward corrections in the pair: above 1.3400, resistances stand at 1.3440 and 1.3475, former year low."

 

"If the rally is unable to extend beyond this last, the pair may resume the downside from there."

 

 

 


 

 

Aug 01, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


USD/JPY is closer to 103.00 every coming minute

 

 

FXStreet (Moscow) - USD/JPY slid to 102.50 area after reaching 102.72 session high.

 

Not a knockout yet

 

The pair got a knockdown from the Non-Farm Payroll data, but not a knockout meaning the comeback above 103.00 area is still a possibility especially given quite interesting events calendar for the week ahead. We must say, there are practically no first-tier fundamental releases except for ISM report, but the still going on earnings season, and the behavior of stocks and credit market may help to settle above 103.00 area again.

 

What are today’s key USD/JPY levels?

 

Today's central pivot point can be found at 102.67, with support below at 102.29, 101.96 and 101.58 with resistance above at 103.00, 103.38, and 103.71. Hourly Moving Averages are bullish, with the 200SMA bullish at 102.07 and the daily 20EMA bullish at 101.96. Hourly RSI is bearish at 47.

 

 


 

 

Aug 04, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


Stock markets collapse as predicted- ForexTrading.TV

 

 

FXStreet (Łódź) - Nick Jordan, currency analyst at ForexTrading.TV, comments on SP 500's break lower, in the steps of European markets.

 

 


 

 

Aug 04, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


Morgan Stanley: EUR/USD year-end forecast at 1.31 - eFXnews

 

 

FXStreet (Łódź) - The eFXnews team note that Morgan Stanley sees EUR/USD standing at 1.31 at the end of 2014 and the downward move continuing in 2015 towards 1.24.

 

Key quotes

 

"'Indeed, we believe relationships established over the past two years between the EUR and financial markets have already started to break down, leaving the EUR exposed to the underlying bearish fundamentals,' MS argues."

 

"'Private investor flows into peripheral bonds, equity markets, and central bank diversification will be declining sources of support for the EUR in our view. The increased potential for currency hedging of European assets in an environment of rising volatility is another EUR negative,' MS adds."

 

"In line with this view, MS maintains a short EUR/USD position in its medium-term portfolio from 1.3620, with a revised profit-stop at 1.35, and a target at 1.31."

 

"Short-term, MS looks to use any EUR/USD rebounds to add short positions via a limit order at 1.3480, with a stop at 1.3580, and a target at 1.31."

 

'This content has been provided under specific arrangement with eFXnews.'

 

 


 

 

Aug 05, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


USD/CAD loses around 4.00% of face value in less than a month - ForexTrading.TV

 

 

FXStreet (Łódź) - Nicole Elliott, currency analyst at ForexTrading.TV, observes that the USD/CAD has lost around 4.00% of face value in less than a month.

 

 


 

 

Aug 05, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


EUR/USD offered near 1.3380

 

 

FXStreet (Edinburgh) - The selling interest remains alive around the single currency on Tuesday, dragging the EUR/USD to a test of recent lows around 1.3380.

 

EUR/USD focus on US docket

 

The euro has reacted adversely after the mixed results from Services PMIs in the euro bloc, with sellers stepping in to fade the recent spike to levels around 1.3440/50. Next of note will be US Factory Orders (0.6% exp.) and the ISM Non manufacturing for the month of July (56.3 exp.). In the view of Camilla Sutton, Chief FX Strategist at Scotiabank, “The combination of ongoing downside pressure on inflation, weak confidence, disappointing PMIs and the negative impact of falling trade with Russia are likely to keep a relatively cautious tone at the ECB and support EUR downside”.

 

EUR/USD relevant levels

 

As of writing the pair is losing 0.27% at 1.3385 with the next support at 1.3366 (2014 low Jul.30) followed by 1.3359 (low Nov.12 2013) and then 1.3345 (low Nov.11 2013). On the other hand, a break above 1.3425 (high Aug.25) would target 1.3433 (high Aug.4) en route to 1.3445 (high Aug.1).

 

 


 

 

Aug 05, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


EUR/USD grinds lower on weak EMU Services PMI - FXStreet

 

 

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the EUR/USD fell on Tuesday to 1.3380 following the release of the disappointing Eurozone PMI services numbers. 

 

Key quotes

 

"Technically, failure to advance beyond the 23.6% retracement of the 1.3639/1.3366 daily fall has helped discouraging buyers."

 

"The hourly chart presents a strong bearish tone, as indicators continue heading south despite in oversold levels, while price stands now below its moving averages."

 

"In the 4 hours chart technical readings also present a bearish stance, with 1.3366 this year low coming as immediate support in route to 1.3295."

 

 


 

 

Aug 05, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites
OctaFX_Farid Newbie

OctaFX_Farid

Posted
  • Author
Posted
octafx_newsupdates-1_zps8241bbb2.png


 

 

 


USD/JPY extends gains to 102.90 after a brief rejection

 

 

FXStreet (San Francisco) - After breaking 102.70 level and testing daily highs at 102.75, the USD/JPY found selling interest that sent the pair to 102.65; however the pair recovered the mood and now it is extending gains to 102.90.

 

Currently, USD/JPY is trading at 102.87, up 0.29% on the day, having posted a daily high at 102.94 and low at 102.46. USD/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. 

 

USD/JPY levels

 

The pair is now focused into 103.00, that works as next resistance ahead of 103.10 and 103.40. On the downside, 102.70, 102.60 and 102.40 are supports.

 

 


 

 

Aug 05, 2014

OctaFX.Com News Updates

 

 

 


image6-3_zpse24d6ba9.png


Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing
×
×
  • Create New...