OctaFX_Farid Posted September 30, 2014 Author Share Posted September 30, 2014 EUR/USD regains 1.2600 and beyond FXStreet (Edinburgh) - The common currency managed to bounce off sub-1.2600 lows during the European morning, now lifting EUR/USD back to the 1.2615/20 band. EUR/USD recovers after consumer confidence Spot is now looking to consolidate the rebound above the 1.2600 handle, boosted by the unexpected drop to 86 in the US Consumer Confidence for the month of September. There are no more data releases in the region today, with the next risk event being tomorrow’s Chinese manufacturing PMI gauged by NHS. (51.2 exp.) ahead of the final figures of the manufacturing PMIs and GDP in the bloc. Camilla Sutton, Chief FX Strategist at Scotiabank, noted, “all studies warn of strong downside momentum and the only warning on the chart is the RSI which has now fallen firmly into oversold territory. However without a supporting warning signal, EUR is likely to continue its downward trend. The next level of support lies at 1.2500”. EUR/USD levels to watch As of writing the pair is retreating 0.44% at 1.2628 and a break below 1.2561 (low Sep.6 2012) would target 1.2502 (76.4% of 1.2042-1.3995) en route to 1.2493 (low Aug.31). On the flip side, the initial hurdle lines up at 1.2664 (low Sep.29) followed by1.2715 (high Sep.29) and finally 1.2761 (high Sep.26). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 30, 2014 Author Share Posted September 30, 2014 USD/JPY reaches new yearly high at 109.84- FXStreet FXStreet (Łódź) - As FXStreet Chief Analyst Valeria Bednarik points out, USD/JPY hit a fresh yearly high on Tuesday before pulling back slightly. Key quotes "The 1 hour chart shows price well above 100 and 200 SMAs both maintaining a shy bullish slope, while indicators eased some from overbought territory." "In the 4 hours chart indicators also turned lower but hold well above their midlines, showing no actual upward strength, neither signs of a retracement." "The dominant bullish trend prevails regardless mild positive technical readings, and retracements are still seen as buying opportunities now on approaches to the 109.00 price zone." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 30, 2014 Author Share Posted September 30, 2014 EUR/USD major long-term support area of 1.2600/1.2660 under pressure - RBS Dmytro Bondar, Technical Analyst at RBS observes that following the formation of a H&S pattern in the first half of the year, EUR/USD has seen a significant selloff. Key quotes "It has though started to pressure a key long-term support level of 1.2660, which was previously the risk level of the 2012 inverse H&S." "This is a very important level and it is required to have a weekly close below to consider it broken." "If so, the next support will be expected at 1.2290 and 1.2050." "Otherwise, if the level holds on a weekly close basis, and a reversal pattern formed, this area may see a base." "Hence it is advisable to keep an eye on the reaction from the test of 1.2600-1.2660 area." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 30, 2014 Author Share Posted September 30, 2014 AUD/USD oscillates above 0.8700 FXStreet (Córdoba) - AUD/USD has resumed the advance and climbed back to the upper side of today’s range at the beginning of the New York session after after a complete pullback of Chinese PMI inspired gains. AUD/USD retraced its Asian session gains but the setback was contained by 0.8700 and turned back positive, however, it lacked momentum to break free of its daily range. At time of writing, AUD/USD is trading at 0.8745, recording a 0.33% above its opening price. AUD/USD is rising for first time in four days but remains on track to post a 6.2% loss in September, its worst decline since May of 2013. AUD/USD technical perspective “Overall, the pressure remains to the downside, yet a break below 0.8680 is required to confirm a new leg lower”, said Valeria Bednarik, chief analyst at FXStreet. Bednarik locates immediate supports at 0.8710, 0.8680 and 0.8635, while resistances are seen at 0.8750, 0.8800 and 0.8840. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 30, 2014 Author Share Posted September 30, 2014 USD/JPY finding good support 109.50 FXStreet (Guatemala) - USD/JPY is trading at 109.75, up 0.24% on the day, having posted a daily high at 109.86 and low at 109.19. USD/JPYcaught a bounce that takes it out of the bears lair and on towards 109.80 /85 after there was a little bit of profit taking after the 13 count on the daily chart. There is good nearby support circa 108.25/50 and as Karen Jones, chief analyst at Commerzbank notes, the pair remains remains under pinned by the 107.21 short term uptrend. “We will assume while above here that the market remains well placed for further gains”. USD/JPY hourly levels Spot is presently trading at 109.75, and next resistance can be seen at 109.76, 109.80 (Daily Classic R1), 109.81 (Weekly Classic R1), 109.86 and 110.10 (Daily Classic R2). Next support to the downside can be found at 109.55 (Hourly 20 EMA), and 109.50. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 EUR bounce not ruled out, but trend remains bearish – Danske Bank FXStreet (Edinburgh) - In the opinion of Flemming Nielsen, Senior Analyst at Danske Bank, the scenario for the euro remains negative, albeit occasional rebounds should not be ruled out. Key Quotes “In the global FX markets, the EUR declined yesterday on the back of a much lower than expected reading for euro-zone core inflation, which fell to 0.7% y/y in September”. “The decline in core inflation suggests that declining wage increases are adding to the downside pressure on inflation”. “This is just yet another issue putting pressure on the ECB to do more. EUR/USD ended the day half a figure lower around 1.2630 and according to our short-term financial models, the cross remains in oversold territory, trading 1.1 standard deviation below our model’s fair value estimate of 1.275”. “However, while the decline in EUR/USD admittedly has materialised much faster than we expected and both valuation and positioning (see IMM Positioning from 29 September) look stretched increasing the likelihood of a rebound, we still expect EUR/USD to continue to trade lower in the coming months”. “In the near term, we expect a solid US labour market report on Friday to add further support to the USD, while the ECB is expected to keep the door open for QE in connection with its monetary meeting on Thursday”. “We expect that speculations of additional ECB easing (QE) will remain a theme in market in the coming months – this will weigh further on the EUR”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 Disappointing EMU PMIs push EUR/USD below 1.2600 - FXStreet FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the lower than expected Eurozone PMI Manufacturing numbers for September weighed on the EUR/USD which dropped below the 1.2600 level. Key quotes "More pressure on the ECB indeed for tomorrow, let’s see if Draghi decides to keep on backing up his words with action." "In the meantime, the EUR/USD posted a daily low so far of 1.2584, trading now back around the 1.2600 figure." "The technical picture continues to be clearly bearish according to the 4 hours chart, as indicators managed to correct all of their oversold conditions reached on Tuesday, while price failed to extend beyond the 1.6230 price zone." "The same chart shows price below a strongly bearish 20 SMA and indicators below their midlines, with both momentum and RSI heading south." "A daily descendant tend coming from 1.2880 price zone stands around 1.2650, a few pips below mentioned 20 SMA, and recoveries up to that level should be seen as selling opportunities." "Renewed selling pressure on the other hand, pushing the pair below yesterday’s low of 1.2570, should see the pair extending its decline down to 1.2530 area first, and down to 1.2500/10 as the lowest for the day." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 AUD/USD holds above year low FXStreet (Córdoba) - Australian dollar is staging a minor recovery after underperforming during the Asian session and hitting a fresh 8-month low weighed by disappointing Australian data. AUD/USD bottomed out at 0.8663, just 4 pips away from the year low and climbed back above the 0.87 mark during the European trade. 0.8659 was the January three-and-a-half year low. However, the subsequent bounce has been capped by the 0.8730 zone, confining the pair to a phase of consolidation. At time of writing, the pair is trading at 0.8715, still 0.34% below its opening price. AUD/USD levels to watch In terms of technical levels, AUD/USD could find immediate resistances at 0.8750 (intraday high), 0.8766 (Sept 30 high) and 0.8800 (psychological level). On the other hand, if AUD falls below 0.8659, next supports could be found at 0.8632 (Jul 19 2010 low) and 0.8600 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 SEB: Selling EUR/USD into fading rallies remains a main theme - eFXnews FXStreet (Łódź) - The eFXnews team remark that the SEB sees trend-following tools pointing to a continued drop in EUR/USD, suggesting selling into fading rallies.Key quotes"Conditions are severely stretched and buyers' response (lower shadow within an otherwise bearish candle) at a descending parallel is possibly worth some attention.""A weekly mid-body point and 8day 'Tenkan-Sen' provided resistance in the mid-1.27s should buyers show initiatives over 1.2664.""Current intraday stretches are located at 1.2570 & 1.2695."'This content has been provided under specific arrangement with eFXnews.' OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 EUR/CHF rallies on intervention rumors FXStreet (Córdoba) - EUR/CHF spiked to fresh weekly highs during the European session amid rumors of intervention by the Swiss National Bank. Market chatter the SNB is unofficially buying at 1.2050 has lifted EUR/CHF to 1.2089 from a low of 1.2052. At time of writing, EUR/CHF is trading at 1.2075, 0.12% above its opening price. The SNB placed a floor for EUR/CHF at 1.2000 back in September 2011 aimed to prevent further appreciation of the franc as the Eurozone economic crisis intensified. Meanwhile, USD/CHF advanced to a daily high of 0.9592, stalling a few pips ahead of yesterday’s highs and the 0.9600 level. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 EUR/USD back below 1.2600 FXStreet (Córdoba) - EUR/USD failed to recover past the 1.2630 area and came under renewed pressure during the European session as investors await a series of US data, including the ADP employment report and the ISM PMI. A string of mixed manufacturing PMI from the Eurozone failed to help the euro and put EUR/USD back on the defensive. The pair has fallen to a daily low of 1.2584 and keeps the 1.2570/60 support area in sight ahead of US data releases. At time of writing, EUR/USD is trading at 1.2590, recording a 0.32% loss on the day. However, the cautious tone may prevail ahead of tomorrow European Central Bank decision and Friday's US nonfarm payrolls. EUR/USD levels to watch In terms of technical levels, EUR/USD could find immediate supports at 1.2560 (Sep 6 2012 low), 1.2500 (psychological level/Sept 5 2012 low) and 1.2493 (Aug 31 2012 low). On the other hand, resistances are seen at 1.2630 (intraday high), 1.2663 (Sept 29 low) and 1.2700/01 (psychological level/Sep 30 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 AUD/USD recovery capped at 0.8725 FXStreet (San Francisco) - The Aussie is trading down again versus the US Dollar after a brief bounce from yearly lows around 0.8660 and a rejection at 0.8725. However, the AUD/USD is currently performing an early jump following ADP data. The ADP added 213K new payrolls in September; above expectations and highest since June. US created 629K new private ADP jobs in the Q2. USD reaction hasn't been too big as traders are looking ahead to ISM manufacturing. Currently, AUD/USD is trading at 0.8705, down 0.46% on the day, having posted a daily high at 0.8751 and low at 0.8663. AUD/USD levels AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. If the pair extends recovery, it will face next resistances at 0.8725, 0.8750 and 0.8765. On the downside, supports are at 0.8685 and 0.8660. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 Demand for the JPY remains subdued – OCBC Bank FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, expects the Japanese currency to keep trading on the defensive vs. the greenback.Key Quotes“USD-JPY may continue to knock on the door at 110.00 with a fair degree of containment on the risk aversion front and ahead of the US labor market numbers on Friday”.“The Tankan numbers came in mixed to mildly supportive (big firms expect to increase CAPEX by a more than expected 8.6% in the current FY) but this failed to grant any traction to the yen”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 EUR/USD wanders around 1.2600 FXStreet (Córdoba) - EUR/USD continues to trade erratically around the 1.2600 level, unable to set a short-term direction as investors remain sidelined ahead of the European Central Bank decision Thursday and the US nonfarm payrolls Friday. With latest recovery attempt capped by 1.2630, EUR/USD has traded within a narrow range, currently at the 1.2605 area, just a few pips below its opening price, ahead of the US ISM manufacturing PMI. Consensus points to a 58.5 reading in September versus 59.0 the previous month. EUR/USD technical perspective “In the 4 hours chart the bearish tone prevails, albeit RSI aims higher above 30, supporting current upward correction: critical resistance stands around 1.2650, a daily descendant trend line coming from 1.2880 region, and 20 SMA in the 4 hours chart”, said Valeria Bednarik, chief analyst at FXStreet. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 United States ISM Prices Paid registered at 59.5 above expectations (57) in September Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 United States Construction Spending (MoM) came in at -0.8%, below expectations (0.5%) in August Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 US: ISM Manufacturing PMI drops to 56.6 in September FXStreet (Łódź) - The US ISM Manufacturing PMI fell to 56.6 in September from 59.0 in August, the Institute for Supply Management informed on Wednesday. Analysts expected less decrease to 58.5. ISM Prices Paid rose to 59.5 from 58.0 and against forecasts of sliding to 57.0. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 United States EIA Crude Oil Stocks change below forecasts (0.6M) in September 26: Actual (-1.363M) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2014 Author Share Posted October 1, 2014 GBP/USD tests 1.6250 after US data; but rejected FXStreet (San Francisco) - The Sterling is advancing versus the US dollar as the pound is joining the short term USD weakness following disappointing economic data in the United States. The pair, however, wasn't able to hold levels and now it is trading back to 1.6220. The US manufacturing PMI was reported down to 57.5 in September; the components showed that strong output and new orders growth were maintained; fastest increase in payrolls since 2012. ISM manufacturing was down to 56.6; employment component down to 54.6. Currently, GBP/USD is trading at 1.6220, up 0.03% on the day, having posted a daily high at 1.6253 and low at 1.6162. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. GBP/USD levels If the pair extends rejection, it will face supports at 1.6200, 1.6180 and 1.6160. On upside, resistances are at 1.6250, 1.6270 and 1.6285. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 2, 2014 Author Share Posted October 2, 2014 ECB keeps rates unchanged after August cut FXStreet (Córdoba) - The Governing Council of the European Central Bank decided that the interest rate on the main refinancing operations and the rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05%, 0.30% and -0.20% respectively. The ECB cut all three rates by 10 bps last month and announced an asset buying program - which details will be unveiled next week - aimed to provide liquidity to the real economy to fight low inflation and support growth. Attention now turns to ECB President, Mario Draghi, who will comment on the considerations underlying these decisions at a press conference starting at 12:30 GMT. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 2, 2014 Author Share Posted October 2, 2014 EUR/JPY rises slightly after ECB, Draghi eyed FXStreet (Córdoba) - EUR/JPY edged a few pips higher but remained within its daily range after the European Central Bank decided to keep rates unchanged as widely expected after cutting all three rates last month. The ECB left its benchmark rate unchanged at 0.05% and the deposit rate at -0.2% in today’s meeting. EUR/JPY reached a knee-jerk high of 137.51 but lacked momentum as attention now turns to ECB President, Mario Draghi, who will speak in a conference at 12:30 GMT. At time of writing, EUR/JPY is trading at the 137.45 zone, virtually unchanged on the day, having recovered from a 3-week low of 136.94 scored earlier on the day. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 2, 2014 Author Share Posted October 2, 2014 ECB's Draghi gives details of ABS and covered bond purchase programsd FXStreet (Łódź) - At the press conference following ECB's announcement that it will remain on hold in October ECB president Mario Draghi says that the details of the ABS and covered bond purchases have been discussed at the meeting. • The programs will last at least 2 years. • Purchases of covered bonds will start in mid-October. • ABS will be bought from Q4 2014. • Purchases are expected to have a sizable impact on the balance sheet. • They will generate positive spillovers to other markets. • They will reinforce fact of significant and increasing differences in the monetary policy cycle between major advanced economies. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 2, 2014 Author Share Posted October 2, 2014 EUR/GBP advances as Draghi speaks FXStreet (Córdoba) - EUR/GBP pushed to fresh daily highs as Draghi speaks in a press conference after the ECB decided to keep rates unchanged, as expected. Draghi sounded dovish as expected, reiterating risks remain to the downside and low inflation is expected to persist. He also said the bank is ready to use further unconventional measures if inflation remains too low for too long. ECB President also said further details of the program will be unveiled in a press release at 13:30 GMT (3:30 PM). Despite the dovish stance, EUR/GBP managed to advance a few pips and hit a 1-week high of 0.7836. At time of writing, the pair is trading at 0.7830, 0.43% above its opening price. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 2, 2014 Author Share Posted October 2, 2014 EUR/USD gained 1.2670 on Draghi FXStreet (Edinburgh) - The shared currency is keeping the composure as Draghi’s Q&A session is playing out on Thursday, with the EUR/USD wobbling around 1.2660/70. EUR/USD looking for catalysts Spot is digesting pretty well Draghi’s words today, with further details on the ABS purchase programme by the ECB will be published at 1530 CET. The ECB will buy ABS from the last quarter of 2014 and will last 2 years. Draghi also stressed that the bank remains ready to act if the situation in the region deteriorates further. Regarding consumer prices, Draghi expects the CPI to climb closer to the bank’s target in the upcoming years EUR/USD key levels The pair is now advancing 0.36% at 1.2668 and a breakout of 1.2676 (high Oct.2) would aim for 1.2715 (high Sep.29) and then 1.2732 (10-d MA). On the downside, the immediate support aligns at 1.2571 (2014 low Sep.30) ahead of 1.2561 (low sep.6 2012) and finally 1.2502 (76.4% of 1.2042-1.3995). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 2, 2014 Author Share Posted October 2, 2014 EUR/USD gained 1.2670 on Draghi FXStreet (Edinburgh) - The shared currency is keeping the composure as Draghi’s Q&A session is playing out on Thursday, with the EUR/USD wobbling around 1.2660/70. EUR/USD looking for catalysts Spot is digesting pretty well Draghi’s words today, with further details on the ABS purchase programme by the ECB will be published at 1530 CET. The ECB will buy ABS from the last quarter of 2014 and will last 2 years. Draghi also stressed that the bank remains ready to act if the situation in the region deteriorates further. Regarding consumer prices, Draghi expects the CPI to climb closer to the bank’s target in the upcoming years EUR/USD key levels The pair is now advancing 0.36% at 1.2668 and a breakout of 1.2676 (high Oct.2) would aim for 1.2715 (high Sep.29) and then 1.2732 (10-d MA). On the downside, the immediate support aligns at 1.2571 (2014 low Sep.30) ahead of 1.2561 (low sep.6 2012) and finally 1.2502 (76.4% of 1.2042-1.3995). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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