Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

Date : 24th July 2014

 

EURUSD LOSING SOME OF ITS EARLIER GAINS AFTER THE US UNEMPLOYMENT CLAIMS DROPPED TO A 8-YEAR LOW LEVEL DURING THE LAST WEEK.

 

EURUSD dropped yesterday and closed at 1.3462. Earlier today the single European currency was boosted after positive PMI data from Europe and rebounded from the lows. The German Flash Manufacturing PMI rose to a reading of 52.9 in July. The German Flash Services PMI also rose in July reaching 56.6. The single European currency started to lose some of its steam after the better than expected Unemployment Claims data released from the United States in the afternoon. The Unemployment Claims dropped to a 8-year low level of 284K during the last week.

 

 

Investors are now looking forward for the New Home Sales data due from the United States.

 

Support for the EURUSD is seen at 1.3453 and resistance is seen at 1.3542.

Share this post


Link to post
Share on other sites

Date : 25th July 2014

 

EURUSD TRADING LOWER AFTER WORSE THAN EXPECTED GERMAN IFO BUSINESS CLIMATE DATA.

 

EURUSD traded sideways yesterday and closed at 1.3463. Data released yesterday indicated that German Flash Manufacturing PMI rose to a reading of 52.9 in July. Initially the single European currency gained against its US counterpart, but after better than expected jobless claims report and the potential new sanctions against Russia the Euro lost ground. Data released from the United States indicated that the Unemployment Claims dropped unexpectedly 19,000 to a reading of 284K during the last week.

 

 

Data released today showed that the German Ifo Business Climate dropped to a level of 108.0 in July. Investors are now looking forward for the Core Durable Goods Orders data due from the United States.

 

Support for the EURUSD is seen at 1.3440 and resistance is seen at 1.3505.

Share this post


Link to post
Share on other sites

Date : 28th July 2014

 

EURUSD TRADING NEAR THE 1.34 MARK IN THE EUROPEAN SESSION. US FUNDAMENTALS WILL DRIVE THE FX MARKET IN THE WEEK AHEAD.

 

EURUSD dropped on Frirday and closed at 1.3429. The business sentiment in Germany dropped for a third consecutive month to a reading of 108.0 in July. The European revealed in its monthly report that the private sector lending in the Eurozone fell 1.7 percent on an annual basis. The single European currency was also pressurized after the EU increased its blacklist Russian who are subject of sanctions. The ECB Vice President Vitor Constancio downplayed the speculations of different sources for potential new measures in the near term taken by the central bank against the low inflation. Data from the United States also boosted the US dollar. The Core Durable goods orders rose 0.7 percent on a monthly basis in June.

 

The week ahead will be driven mostly by the US fundamentals. The Pending Homes month over month release is due later today. On Wednesday we have the ADP Non-Farm Employment Change, the FOMC Statement and the Advance GDP data for the second quarter of 2014 due on the calendar. The top fundamental event on Friday will be the Non-Farm Payrolls release.

 

Support for the EURUSD is seen at 1.3424 and resistance is seen at 1.3485.

Share this post


Link to post
Share on other sites

Date : 30th July 2014

 

EURUSD IS UNDER PRESSURE AHEAD OF THE ADP NON-FARM EMPLOYMENT CHANGE AND THE ADVANCE GDP DATA FROM THE US.

 

EURUSD dropped yesterday and closed at 1.3407. The US dollar was boosted by the CB Consumer Confidence release which indicated that the consumer confidence in the United States rose to a 7 year high reading of 90.9 in July. Data from Germany indicated that the import prices rose less than expected in June recording a 0.2 percent rise. The ECB Governing Council Member and Bundesbank President Jens Weidmann welcomed a strong rise in the wages in Germany.

 

Data released today indicated that the Spanish Flash Consumer Price Index dropped to a level of -0.3 percent on an annual basis in July.

 

Investors are now looking forward for the ADP Non-Farm Employment Change Report and the Advance GDP data for the second quarter of 2014 from the United States. Later today the FOMC Monetary Policy Statement is due from the US.

 

Support for the EURUSD is seen at 1.3396 and resistance is seen at 1.3485.

Share this post


Link to post
Share on other sites

Date : 1st August 2014

 

EURUSD TRADING ABOVE 1.3400 AFTER THE US NON-FARM PAYROLLS RELEASE.

 

EURUSD dropped yesterday and closed at 1.3389. The inflation in the Eurozone continued to fall reaching its lowest level in almost 5 years coming at a reading of 0.4 percent in July. On the other side the Unemployment Level in the Eurozone declined to 11.5 percent from its previous 11.6 percent level. The Unemployment Claims release came out in line with the market expectations at a reading of 302K during the last week.

 

 

The key even of the way was the US Non-Farm Payrolls and Unemployment Level releases which were both released today. The US Non-Farm Employment Change came our worse than the market expectations at a reading of 209K. The Unemployment Rate in the US rose to a level of 6.2 percent. Following the releases the US dollar lost ground against most of its counterparts and EURUSD is currently trading above the 1.3400 mark.

 

Support for the EURUSD is seen at 1.3370 and resistance is seen at 1.3442.

Share this post


Link to post
Share on other sites

Date : 4th August 2014

 

LOW VOLATILITY AT THE START OF THE WEEK. ECB PRESS CONFERENCE AND MINIMUM BID RATE ON FOCUS THIS WEEK.

 

EURUSD rose on Friday and closed at 1.3430. The US dollar lost some of its gains against its European counterpart after the Unemployment Rate in the United States unexpectedly rose to 6.2 percent from 6.1 percent during the previous month. The US Non-Farm Payrolls also rose less than expected to a reading of 209K. In the Eurozone the Manufacturing PMI in Germany recorded a drop to a reading of 52.9.

 

Data released today indicated that the Sentix Investor Confidence in the Eurozone dropped to a level of 2.7 in August from the previous 10.1 level in July.

 

The main economic events of the week will be the ECB Press Conference and Minimum Bid Rate decision. Both are due to be delivered on Thursday.

 

Investors are now looking forward for the ISM Non-Manufacturing PMI due from the United States tomorrow.

 

Support for the EURUSD is seen at 1.3370 and resistance is seen at 1.3442.

Share this post


Link to post
Share on other sites

Date : 5th August 2014

 

EURUSD FLIRTING WITH THE 1.3400 LEVEL IN THE FIRST HALF OF THE EUROPEAN SESSION.

 

EURUSD dropped yesterday and closed at 1.3421. The Sentix Investor Confidence in the Eurozone dropped sharply to a reading of 2.7 in August marking its lowest level in 12 months. Data from Spain revealed that the unemployment level in the country dropped by 29.8K in July.

 

Data released from the Eurozone today indicated that the Final Services Purchasing Managers Index in the Eurozone remained steady in July coming at a reading of 54.2. Another report indicated that the Retail Sales in the EU expanded by 0.4 percent in June.

 

Investors are now looking forward for the ISM Non-Manufacturing Purchasing Managers Index release due from the United States.

 

Support for the EURUSD is seen at 1.3370 and resistance is seen at 1.3442.

Share this post


Link to post
Share on other sites

Date : 6th August 2014

 

EURUSD PRINTED NEW LOWS IN THE EUROPEAN SESSION ON POOR DATA FROM THE EUROZONE.

 

EURUSD dropped yesterday and closed at 1.3375. The Final Services PMI in the Eurozone expanded to a reading of 54.2 in July. The Spanish and Italian Services Purchasing Managers Indexes also expanded, but the report from the Italy was disappointing. The Retails Sales month over month came out in line with the market expectations at a reading of 0.4 percent in June. Data from the United States revealed that the ISM Non-Manufacturing Index rose to an eight year high level of 58.7 in July. The Factory Orders in the States also jumped recording a gain of 1.1 percent in June.

 

 

 

Data released today indicated that the German Factory Orders dropped to a reading of -3.2 percent in June. This combined with the poor preliminary GDP report from Italy which dropped to a reading of -0.2 percent sent to the Euro lower and the pair is currently trading near the 1.3340 level.

 

Investors are now looking forward for the Trade Balance data due from the United States.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3413.

Share this post


Link to post
Share on other sites

Date : 7th August 2014

 

EURUSD TAKING A BREATHER AHEAD OF THE ECB INTEREST RATE DECISION IN PRESS CONFERENCE.

 

EURUSD rose yesterday and closed at 1.3381. Data released from the Eurozone indicated that the German Factory Orders dropped to a reading of -3.2 percent in June. Another report showed that the GDP in the third-largest economy in the Eurozone – Italy dropped to a reading of -0.2 percent in the second quarter of 2014.

 

Data from the United States indicated that the trade deficit in the largest economy in the world fell to 41.5 billion in June. The President of the United States Federal Reserve in Atlanta Dennis Lockhart stated yesterday that he sees the first interest rate hike in the middle of 2015 or later.

 

Investors are now looking forward for the ECB Interest Rate decision and the ECB Press Conference due today. At the start of the ECB Press Conference the Unemployment Claims report from the United States is due to be released.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3413.

Share this post


Link to post
Share on other sites

Date : 8th August 2014

 

EURUSD TRADING HIGHER ON FRIDAY AFTER THE SHARP DROP YESTERDAY.

 

EURUSD dropped yesterday and closed at 1.3362. The President of the European Central Bank Mario Draghi expressed his concerns about the sanctions against Russia stating that they could worsen the outlook for the economy of the Eurozone. Yesterday the ECB kept its interest rates unchanged at 0.15 percent. The central bank also left its deposit rate unchanged at -0.1 percent. Data released from the United States indicated that the Unemployment Claims dropped to a 8-year low level of 289K during the last week.

 

 

The US President Barack Obama has authorized air-strikes in Iraq to protect the American personnel.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3413.

Share this post


Link to post
Share on other sites

Date : 11th August 2014

 

EURUSD TRADING BELOW THE 1.3400 LEVEL ON MONDAY. LIGHT ECONOMIC CALENDAR TODAY..

 

EURUSD rose on Friday and closed at 1.3410. Data from the United States indicated that the Non-Farm Productivity in the largest economy in the world rose 2.5 percent in the second quarter of 2014. The Wholesale Inventories in the US rose 0.3 percent in June. The Industrial output in France recorded a gain of 1.6 percent in June. The German Trade Surplus dropped to 16.3 billion Euro in June.

 

eur-usd-blog.jpg

 

The Economic Calendar for the rest of the session is very light and we don’t expect much volatility on the market. Investors should be fully aware that potential high-impact data that’s not scheduled to be released may bring higher market volatility.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3410.

 

EURUSD-11-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 13th August 2014

 

EURUSD PUSHED ABOVE THE 1.3400 LEVEL AFTER WORSE THAN EXPECTED RETAIL SALES DATA FROM THE UNITED STATES.

 

EURUSD dropped yesterday and closed at 1.3368. Data released yesterday indicated that the ZEW Economic Sentiment dropped sharply to a reading of 23.7 in July. Additionally the ZEW Economic Sentiment in Germany also recorded a sharp drop to a reading of 8.6 from the previous reading 27.1 a month earlier. In the United States the Job Openings hit a 13 year high coming at 4.67 million jobs in June.

 

4.jpg

 

Data released today indicated that the inflation in Germany and France remains weaker. The Industrial Production in the Eurozone fell to a reading of 0.3 percent in June.

 

The Euro rose sharply today after the worse than expected retail sales data from the United States and its currently trading above the 1.3400 mark.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.

 

EURUSD-13-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 14th August 2014

 

EURUSD HOLDING BELOW THE 1.3400 LEVEL AFTER POOR GDP REPORTS FROM THE FRANCE AND GERMANY.

 

EURUSD dropped yesterday and closed at 1.3363. The Industrial Production in the Eurozone dropped to a reading of -0.3 percent in June. Data from the United States revealed that the Retails Sales in the US dropped in July coming at a reading of 0.0 percent making its lowest level since January 2014.

 

 

Fotolia_31030712_XS1.jpg

 

Data from the United States indicated that the trade deficit in the largest economy in the world fell to 41.5 billion in June. The President of the United States Federal Reserve in Atlanta Dennis Lockhart stated yesterday that he sees the first interest rate hike in the middle of 2015 or later.

 

Data released today indicated that the German Preliminary GDP report for the second quarter of 2014 came out worse than the market expectations at a reading of -0.2 percent. The Preliminary GDP report from France also came worse than expected at a reading of 0.0 percent. The Eurozone’s Flash GDP dropped to 0.0 percent in the second quarter of 2014.

 

Data from the United States showed that the Unemployment Claims during the last week came out closer to the market expectation at a reading of 311K.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.

 

 

 

EURUSD-14-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 15th August 2014

 

EURUSD HOLDING LOWER AFTER WORSE THAN EXPECTED SECOND QUARTER FLASH GDP DATA.

 

EURUSD dropped yesterday and closed at 1.3364. The German GDP in the second quarter of 2014 drooped to a reading of -0.2 percent. The Flash Gross Domestic Product in the Eurozone dropped to a reading of 0.0 percent in the second quarter of the year. Market had expected a drop to a level of 0.1 percent. Data from the United States indicated that the Unemployment Claims rose slightly to a reading of 311K during the last week.

 

shutterstock_23355112.jpg

 

With the French and Italian bank holidays due to the observance of the Assumption Day today we are expecting the pair to be mostly driven by the US data due on the Economic Calendar. Investors are looking forward for the Producer Price Index and the Preliminary University of Michigan Consumer Sentiment releases due later today from the United States.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.

 

EURUSD-15-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 18th August 2014

 

EURUSD TRADING SIDEWAYS IN THE EUROPEAN SESSION. LIGHT ECONOMIC CALENDAR TODAY..

 

EURUSD rose on Friday and closed at 1.3398. The Michigan Consumer sentiment in the United States dropped to a reading of 79.2 in August marking its lowest level in 9 months. On the other hand the manufacturing output in the largest economy in the world rose 1.0 percent in July. That was the biggest rise since February.

 

shutterstock_101227957.jpg

 

The session ahead will light on scheduled economic events, but any potential market comments may bring volatility on the market. Investors are focus on the scheduled for tomorrow US headlines including the Consumer Price Index, the Core CPI and the Building Permits releases.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.

 

EURUSD-18-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 19th August 2014

 

EURUSD PRINTING NEW LOWS AHEAD OF THE US CPI AND BUILDING PERMITS DATA.

 

EURUSD dropped yesterday and closed at 1.3362. Bundesbank warned yesterday that the economy in Germany could struggle to regain momentum due to the negative outlook for the European economy. The Trade Balance in the Eurozone failed to meet the market expectation coming at a reading of 13.8B in June. Data from the United States revealed that the NAHB Housing Market Index rose to a reading of 55 in August marking its highest output in 7 months.

 

Fotolia_29088424_XS.jpg

 

Data released today indicated the Current Account in the Eurozone dropped to 13.1B in June, market had expected a drop to 19.3B.

 

Investors are now looking forward for the CPI m/m , the Building Permits and the Core CPI m/m releases due from the United States.

 

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.

 

EURUSD-19-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 20th August 2014

 

EURUSD BROKER THE 1.3300 LEVEL MAKING ITS 11-MONTH LOW LEVEL AGAINST THE US DOLLAR AHEAD OF THE FOMC MEETING MINUTES.

 

EURUSD dropped yesterday and closed at 1.3319. The Current Account in the Eurozone dropped to a reading of 13.1B in June. On the other hand the releases from the United States were positive. The Building Permits in the largest economy in the world rose to 1.05M in July. The Housing Starts also recorded a gain in July coming at a reading of 1.09M.

 

Fotolia_25420966_XS1.jpg

 

Data released today indicated that the German Producer Price Index dropped -0.1 percent in July.

 

The EURUSD broke the 1.3300 level making its 11-month low level against its US counterpart and its currently still holding below it.

 

Investors are looking forward for the FOMC Meeting Minutes due later today.

 

Support for the EURUSD is seen at 1.3274 and resistance is seen at 1.3366.

 

EURUSD-20-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 21st August 2014

 

EURUSD PRINTED NEW LOWS AFTER THE FOMC MEETING MINUTES. US UNEMPLOYMENT CLAIMS ON TAP.

 

EURUSD dropped yesterday and closed at 1.3258. The Producer Price Index in the Germany dropped to a reading of -0.1 percent in July. The German Chancellor Angela Merkel urged the leaders of the Eurozone to coordinate more close the construction flaws in order to overcome the debt crisis in the currency bloc.

 

shutterstock_80286730.jpg

 

During the FOMC Meeting Minutes the US dollar strengthened after the committee members noted the improvement in the labour market and the inflation getting to its long-term prospective. The minutes indicated that the future course of the interest rates in the largest economy in the world would be dependent on how the inflation and labour market conditions evolve.

 

Investors are now looking forward for the Unemployment Claims and the Philly Fed Manufacturing Index due from the United States.

 

Support for the EURUSD is seen at 1.3242 and resistance is seen at 1.3324.

 

EURUSD-21-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 22nd August 2014

 

SLOW MARKET AHEAD OF THE SPEECH OF THE FED CHAIR JANET YELLEN.

 

EURUSD rose yesterday and closed at 1.3280. The Manufacturing PMI in the Eurozone dropped to a 13-month low in August coming at a reading to a reading of 50.8. The Services PMI also dropped marking a 2-month low in August at a reading of 53.5. The Consumer Confidence in the Euro area also dropped to a reading of -10. In the United States the President of the Federal Reserve in Kansas City Esther George stated in an interview from the central bank symposium in Jackson Hole that there is steady improvement in the labour market in the US. The Unemployment Claims data released yesterday indicated that the number of people filling applications for unemployment assistance dropped to 298K during the last week. Another report indicated that the Philly Fed Manufacturing Index rose to 28 in August. The Existing Home Sales report was also positive at 5.15M in July.

 

 

Fotolia_21728245_XS.jpg

 

Investors are now looking forward for the speech of the Fed Chair Janet Yellen and the speech of the ECB President Mario Draghi at Jackson Hole.

Support for the EURUSD is seen at 1.3242 and resistance is seen at 1.3324.

 

EURUSD-22-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 25th August 2014

 

EURUSD PUSHED THROUGH THE 1.3200 LEVEL AT THE MARKET OPEN. US NEW HOME SALES ON TAP.

 

EURUSD dropped on Friday and closed at 1.3241. During its speech in Kansas city at the Jackson Hole annual conference the President of the European Central Bank Mario Draghi stated that ECB is ready to respond with all of its available tools if the inflation in the EU drops further. Market counted that as a signal of a potential further easing by ECB.

 

Fotolia_32973386_XS.jpg

 

Earlier today a report from Europe showed that the German Ifo Business Climate dropped for a fourth consecutive month to a reading of 106.3 in August.

 

Investors are now looking forward for the New Home Sales release due from the United States.

 

Support for the EURUSD is seen at 1.3184 and resistance is seen at 1.3291.

 

EURUSD-25-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 27th August 2014

 

EURUSD PRINTED NEW LOWS IN THE ASIAN SESSION. LIGHT ECONOMIC CALENDAR TODAY.

 

EURUSD dropped yesterday and closed at 1.3166. The Durable Goods Orders in the United States rose to a record level at 22.6 percent on a monthly basis in July. Market had expected a rise of 7.8 percent. The CB Consumer Confidence in the largest economy in the world rose to its highest reading since October 2007 coming at 92.4 in August. The Richmond Manufacturing Index also recorded a gain coming at a reading of 12 in August.

 

The Economic Calendar for the rest of the session is light, but potential volatility on the market is possible and can be witnessed.

 

Support for the EURUSD is seen at 1.3157 and resistance is seen at 1.3291.

 

EURUSD-27-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 28th August 2014

 

EURUSD TRADING LOWER AFTER THE 2ND ESTIMATE GDP FROM THE UNITED STATES CAME BETTER THAN THE MARKET EXPECTATIONS.

 

EURUSD rose yesterday and closed at 1.3192. The German Gfk Consumer Confidence fell to a reading of 8.6. The German Import Prices also recorded a drop of a -0.4 percent on a monthly basis in July. In an interview the German Finance Minister Wolfgang Schaeuble stated that the comments made by the ECB President Mario Draghi at Jackson Hole were over-interpreted which fuelled a speculation that the central bank is not so close to introducing additional stimulus measures.

 

Information about a potential Russian invasion in Ukraine brought some slight volatility on the market earlier today.

 

Data released today revealed that the second estimate GDP in the United States came out better than expected at 4.2 percent. The Unemployment Claims data also released today showed that the number of the people who filled documents for unemployment benefits during the last week is 298K which is close to the market expectation for a 299K.

 

Investors are now looking forward for the Pending Home Sales month over month release due from the United States.

 

Support for the EURUSD is seen at 1.3157 and resistance is seen at 1.3291.

 

EURUSD-28-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 29th August 2014

 

EURUSD HOLDING BELOW THE 1.3200 LEVEL AFTER THE CPI FLASH ESTIMATE REPORT.

 

EURUSD dropped yesterday and closed at 1.3181. The second quarter GDP report from the United States showed an expansion of 4.2 percent on an annual basis better than the forecasted 3.9 percent rise. A separate report indicated that the Pending Home Sales in the largest economy in the world rose 3.3 percent on a monthly basis in July.

 

Data released today indicated that the annual inflation in the Eurozone dropped to a level of 0.3 percent in August. Investors are now looking forward for the Chicago PMI report due from the United States.

 

Support for the EURUSD is seen at 1.3157 and resistance is seen at 1.3291.

 

 

EURUSD-29-August-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 1st September 2014

 

EURUSD TRADING NEAR ITS FRIDAY’S CLOSE. GERMAN FINAL GDP CAME OUT AS EXPECTED.

 

EURUSD dropped sharply on Friday and closed at 1.3131. The Unemployment Rate in the Euro area remained at 11.5 percent in July. The Retail Sales in Germany fell 1.4 percent on a monthly basis in July. Data from the United States revealed that the Consumer Sentiment Index rose to a level of 82.5 in July marking its 7 year high level. The biggest surprise on the market was the Chicago Fed PMI which came out at a reading of 64.3 in August. Market had expected a rise to a reading of 56.0.

 

Data released today indicated that the German Final GDP data came out in line with the market expectations at a reading of -0.2 percent.

 

The US banks will be closed today due to the observance of the Labor Day.

 

Support for the EURUSD is seen at 1.3118 and resistance is seen at 1.3217.

 

EURUSD-01-September-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
Share on other sites

Date : 2nd September 2014

 

EURUSD TRADING NEAR ITS FRIDAY’S CLOSE. GERMAN FINAL GDP CAME OUT AS EXPECTED.

 

EURUSD rose yesterday and closed at 1.3127. The final release of the GDP for the second quarter in Germany showed a contraction to -0.2 percent in line with the market expectations. The Eurozone Final Manufacturing PMI contracted to a reading of 50.7 in August. The Spanish and Italian Manufacturing PMI also recorded a drop coming at readings of 52.8 and 49.8 accordingly. Prospects of potential further sanctions by the European Union leaders against Russia also flooded the market and pressurized the single European currency.

 

Data released today indicated that the Producer Price Index dropped -0.1 percent on a monthly basis in July.

 

Investors are now looking forward for the US ISM Manufacturing PMI due later today.

 

Support for the EURUSD is seen at 1.3109 and resistance is seen at 1.3191.

 

EURUSD-02-September-2014.jpg

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Share this post


Link to post
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.
Note: Your post will require moderator approval before it will be visible.

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.


  • Topics

  • Posts

    • Date : 12th December 2019. Lagarde prepares ECB debut – 12th December 2019.   Policy unchanged Projections unlikely to change much Clues about review sought Style in focus Presiding over her first presser of the European Central Bank today, Lagarde is expected to confirm once again the current policy setting, giving time to ECB to focus on the planned review of its overall policy framework.Final Eurozone GDP and PMI readings broadly supported this neutral picture, while the confidence that a deep recession can be avoided is strengthening (Figure 1) despite the fact that German manufacturing and production numbers still look weak. The exports and the overall trade are actually holding up much better than expected, which together with still strong labour markets is underpinning hopes the net exports and consumption will continue to support growth not just in Germany.Figure 1 : December German ZEW investor confidence outcome, end the year firmly in positive territory at the highest level since February 2018.As there is nothing in the data really to challenge the ECB’s overall policy stance, the focus firstly turns into the tone and presentation style that President Lagarde will have. The “risk” is that the presser will be equally uneventful as her testimony before the European Parliament. Lagarde’s team building exercise seems to have worked and at least in public there has been a pretty consistent message since she took over, which is very likely to be confirmed today. Additionally it will be interesting to see whether she will back fully Draghi’s package.Citi Bank: All key interest rates will likely be left unchanged, and the forward guidance reaffirmed. The main interest at this meeting will be the new Eurosystem staff projections, extended to 2022, to gauge whether the September package will be sufficient to bring inflation back into line with the ECB’s target over the forecast horizon. If not, investors’ attention will quickly turn to the ECB’s toolbox and what instruments the Governing Council would be willing to use and when, in order to defend its credibility in the absence of large fiscal support. The upcoming strategic review of monetary policy will also likely be the focus of many questions.Hence as reported by Citi, other than Lagarde’s style, ECB projections could also monopolize the attention. Even though, the ECB remains ready to act again and tweak all its measures if necessary, it has already done a lot and now needs to keep an eye on the side effects of the very expansionary monetary policy, while politicians need to do their bit to support the economy.The central bank won’t be reducing the degree of stimulus any time soon with many analysts supporting that this will continue until mid-2020 unless there is a major change in circumstance.Central bankers will be conducting a comprehensive review of the policy framework, however, with a special focus on the inflation target. A more symmetric definition, which stresses that the ECB can see through lengthy inflation overshoots as well as periods of too low headline rates is likely to come in the first quarter of next year. The inclusion of owner-occupied housing costs into the HICP number also remains a challenge especially as house prices are rising rapidly in some centres, also thanks to the low interest rate environment.Bund yields have nudged higher over the past week, but the German 10-year so far failed to move lastingly above -0.3%. Uncertainty on trade and Brexit are keeping a lid on yields, although there is the risk that if things go the way markets want and a phase one trade deal is confirmed and in the UK PM Johnson gets his majority, there could be a sharp rise in yields, if markets price out further easing and start to look ahead to central banks removing some of the stimulus.However this is far away for now, while central bankers are not looking eager to add further easing.Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • USDJPY Remains Biased To The Downside   USDJPY faces further price weakness despite its price hesitation on Tuesday. On the upside, resistance comes in at 109.00 level. Above this level will turn attention to the 109.50 level. Further out, we expect a possible move towards the 110.00 level on a break of that area, A cut through here will open the door for more gain towards the 110.50. On the downside, support lies at the 108.00 level where a break will target the 107.50 level. Below that level will turn focus to the 107.00 level and then lower towards the 106.50 level. On the whole, USDJPY faces further downside threats.        
    • Sterling Advances Barely Hours To UK Elections As Latest Poll Predicts Conservatives Win In just two days from now, a major event that will set the trend for the currency market for the year 2020, the UK elections will be held. In the face of a Brexit extension, UK prime minister had pushed for an earlier election in the hopes of having a majority conservatives win in the parliament which will make the Brexit deal pass through easily. As the clock ticks, with barely less than 48 hours to this epochal event, the newest poll by Survation conducted for ITV’s good morning Britain show predicts a Boris Johnson win by 14 pts. ahead of Jeremy Corbyn‘s Labour party. The Brexit deal seemed to give the conservatives an edge as it accounted for 32% of the vote decision while NHS gave Labour party a slight edge. On the overall, a majority vote of 42% was predicted for the conservatives while Labour had 28%. Market Reaction as the Clock Ticks Optimism looms in the market as the prediction of a conservatives win will ease Britain’s exit from Europe by January 31 deadline. The EUR/GBP pair continued to fall till the early hours of today breaking the 0.8411 trend line targeting the 0.8149 resistance level. GBP/USD pair rebounded to consolidate briefly targeting 1.3381 resistance levels. Technical analysis within a 4-hour MACD shows that both pairs may likely touch down. CAD edged slightly higher advanced by USMCA news but yet to consolidate gains. The USD against a basket of five major currencies held steady awaiting FOMC’s minutes due out tomorrow. Against a basket of currencies, NZD’s dominance is the highest. Sterling also gained momentum firmed up by approaching UK elections. The safe-haven, the Japanese yen, and Swiss franc remain pressured as major events that will shape the market for 2020 are been anticipated. On the Asia side, significant market activity wasn’t recorded as most currency pairs held steady within a day’s range. In the Asian stock market, not so much activity was recorded being weakened by recently released Chinese PMI numbers. Most of the indexes closed a little lower while US stocks rose swiftly after Friday’s release of US non-farm payroll reports. The outcome of the December 15 deadline set by the US for the signing of a preliminary trade pact will determine the week’s direction and even further into the year 2020. Also due out later in the week is UK GDP figures and ZEW released out of Germany.
    • Date : 11th December 2019. FOMC Preview – 11th December 2019. FOMC Preview No policy changes or surprises are expected with today’s announcement (19:00 GMT) and Chair Powell’s press conference 30 minutes later. It will be interesting to see if, as expected, the voting is unanimous this time round. The FOMC members have expressed significant differences of opinion during 2019 as three rate cuts were implemented.  The apparent paradox of low unemployment and low inflation, the new “norm”. The two-digit unemployment rate (U-3) in November edged down to 3.53% from 3.56% in October, and a 3.52% cycle-low in September, all below the 3.58% prior cycle-low in April and a 4.00% rate at the beginning of the year. Current readings remain much lower than the 4.2% long-run unemployment rate projection noted in the September SEP, it is expected that this estimate will be trimmed today. Headline CPI rose 0.4% in October while the core index rose by 0.2%, for respective y/y gains of 1.8% and 2.3%, versus September figures of 1.7% and 2.4%. Today the November headline is expected to fall again to 0.2% and the core remains flat at 0.2% too. The Fed’s favoured inflation gauge, the PCE chain price measure, rose 1.3% y/y in October and expectations are for an uptick to 1.4% in November. The core PCE chain price measure rose 1.6% y/y in November, versus 1.7% in September, and expectations are for the pace to hold at 1.6% in November. The FOMC’s latest median estimates for 2019 inflation are 1.5% for the headline and 1.8% for the core. Hence, the focus will be on the Fed’s new quarterly forecasts, with expectations raised and likely to be mostly bullish results with a bump up in the median growth projection and a drop in the median dot to reflect a steady stance through 2020. However, the individual dots are likely to show both, forecasts for cuts and hikes. Chair Powell is expected to reiterate the US economy and policy are in a “good place,” (a phrase he has used a number of times lately) and could sound a little more upbeat after the strong jobs report. But, he will continue to warn of downside risks. The FOMC isn’t likely to announce any new measures on reserve management operations (QE?) or a repo facility. All steady into 2020 and beyond. USDIndex remains biased to the down side but has support around 97.40 and the 200-day moving average. A breach of this key support zone brings in 97.00 and the October low of 96.85. A break over 97.80 (the confluence of the 20 and 50-day moving averages) and 98.00 would be required before a re-test of the recent high at 98.50 could be considered. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Bitcoin Cash (BCH) Holds At The Bottom, Is The Consolidation Ongoing?   Key Resistance Levels: $275, $300, $325 Key Support Levels: $200, $160, $120 BCH/USD Price Long-term Trend: Ranging Bitcoin Cash had been trading in the large price range between the levels of $200 and $240. Presently, the coin is now fluctuating at the bottom of the chart. In retrospect, the bulls break the $240 resistance line and reached a high of $310. The coin was resisted as BSH drops back to a range-bound zone. The bears tested the low at $200 but there was a pulled back. The pullback was a correction as the upward move was stopped at $227. BCH is trading between the low at $200 and $227. The bulls are now having difficulty to move upward because of the resistance at $227. Conversely, the bears have failed to break the low of $200. Daily Chart Indicators Reading: The Fibonacci tool indicates that the coin reverses at the 1.272 extension level. BCH will resume the downtrend if the downtrend line or the support line is broken below. The RSI period 14 level 35 is indicating that the price is falling. BCH/USD Medium-term bias: Ranging On the 4-hour chart, the coin is fluctuating between the levels of $200 and $220. The bulls tested and broke the $220 price level but fell back to the range-bound zone. The price is trading below the $227 resistance level; a break is being expected shortly. 4-hour Chart Indicators Reading The market is trading above the 20% range of the daily stochastic. This signifies that BCH is in a bullish momentum. The blue and red lines are trending horizontally indicating that price is fluctuating. General Outlook for Bitcoin Cash (BCH) Bitcoin Cash is still confined within the price range of $200 and $240. Presently, BCH is in a tight range; a break above $227 will move price to the high of $240. Nevertheless, a break below $200 may weaken the coin to a low of $160. Bitcoin Cash Trade Signal Instrument: BCHUSD Order: buy Entry price: $203 Stop: $175 Target: $241 Source: https://learn2.trade 
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.