horizontal dynamo top1

All banners are advertisements only. FIB does not endorse or vouch for any advertisers.

horizontal navi rotating-eisntein


Page 91 of 92 FirstFirst ... 418189909192 LastLast
Results 901 to 910 of 912

Thread: GDMFX - Technical News

  1. #901
    FIB Gold Elite


    GDMFX's Avatar
    Join Date
    Oct 2012
    Location
    Kuala Lumpur, Malaysia
    Reputation
    Array
    Posts
    2,164
    dynamo - First and lasp post every thread AXITrader aff
    FOREX NEWS: GERMANY CELEBRATES UNITY DAY. IRREGULAR VOLATILITY EXPECTED

    EUR/USD

    Forex News: Yesterday the pair showed surprisingly high activity, characterized by bearish momentum and a clear break of 1.1775. The U.S. Manufacturing Index showed a better than anticipated reading but the release wasnít the main reason for the drop.



    Technical Outlook

    The strong move through 1.1775 indicates that price is likely to continue on a downward path, at least until 1.1713 Ė 1.1700 is reached and we expect that to happen today. Itís very possible to see a re-test of the recently broken level at 1.1775 but as long as that level remains intact, the bias remains negative. A break of the mentioned support would further solidify the control of the bears for the medium term.

    Fundamental Outlook

    German banks will be closed today in celebration of German Unity Day and no major economic data will be released. The United States economic calendar is also light, meaning that we will probably have a slow trading session.


    GBP/USD

    The British Manufacturing PMI came out below expectations, a fact which triggered a downslide below 1.3350 and very close to the support at 1.3250. Overall yesterday was a strongly bearish session, with the sellers in almost complete control.



    Technical Outlook

    Yesterday the pair showed strong bearish momentum, advancing more than 100 pips to the downside but sharp moves are usually followed by a retracement or at least a period of sideways movement. On top of that, the Relative Strength Index is now oversold and the pair has reached a support level at 1.3250. All these factors point towards a potential bounce higher but even if this is true, we donít expect to see a move above 1.3350 because the current bias is bearish.

    Fundamental Outlook

    At 8:30 am GMT the British Construction PMI will be released, showing the opinions of purchasing managers from the Construction sector about business conditions and the health of said sector. The survey has a medium impact, but higher numbers usually strengthen the Pound; the expected reading for today is 51.2.

  2. Under 1st Post -dynamo
  3. #902
    FIB Gold Elite


    GDMFX's Avatar
    Join Date
    Oct 2012
    Location
    Kuala Lumpur, Malaysia
    Reputation
    Array
    Posts
    2,164
    FOREX NEWS: US DOLLAR IN THE LIMELIGHT: FIRST LOOK AT UNITED STATES EMPLOYMENT

    EUR/USD
    Forex News: Yesterday the pair bounced higher after an initial break of 1.1713 support. Most of the session was bullish but this behaviour was somewhat expected.



    Technical Outlook

    After the bounce at 1.1713 Ė 1.1700, the pair climbed but encountered resistance at 1.1775. The Relative Strength Index was oversold, which was an early warning that a move like this will soon follow but the overall bias remains bearish and we expect to see a bounce lower from the current level. If this resistance is broken, the pair will probably climb into the 50 period EMA but a lot will depend on the economic data released today.

    Fundamental Outlook

    Today at 12:15 pm GMT we take a first look at the jobs situation in the United States with the release of the ADP Non-Farm Employment Change. The report tracks changes in the number of employed people, excluding the farming sector and Government. The impact is lower than the NFP released Friday but higher numbers than the anticipated 151K strengthen the US Dollar nonetheless.

    At 5:15 pm GMT, ECB President Mario Draghi will deliver opening remarks at the Inauguration of the ECB Visitor Center. Two hours later, at 7:15 pm GMT, Fed Chair Janet Yellen will deliver a speech at a community banking conference hosted by the Federal Reserve Bank of St. Louis. These speeches may have little impact but on the other hand, they could generate increased volatility, so caution is recommended.

    GBP/USD

    The British Construction PMI came out below market expectations but this didnít do much for the bears and the pair failed to break 1.3250, instead moving almost sideways, a behavior normal after a big drop.



    Technical Outlook

    The Relative Strength Index is still in oversold territory and the support at 1.3250 proved strong yesterday although it was breached on several occasions. The pair still needs to move higher before more significant advances south will take place but unless surprises happen, the level at 1.3350 will not be breached today. If a bounce up takes place, 1.3300 is a good psychological level from where downside movement may resume. A break of 1.3250 will make 1.3160 the first target.

    Fundamental Outlook

    The British Services PMI is todayís only highlight, scheduled at 8:30 am GMT. This is a survey of purchasing managers that tries to gauge their opinions about business conditions in the sector and usually has a medium-to-low impact in the Pound. Todayís expected reading is 53.3 and higher numbers are beneficial for the currency.

  4. #903
    FIB Gold Elite


    GDMFX's Avatar
    Join Date
    Oct 2012
    Location
    Kuala Lumpur, Malaysia
    Reputation
    Array
    Posts
    2,164
    FOREX NEWS: RANGE-BOUND TRADING LIKELY COMING TO AN END. BREAKOUTS IMMINENT

    EUR/USD

    Forex News: The pair had a slower day than expected, mostly because the U.S. employment numbers came very close to analystsí forecast. Price remained close to 1.1775 resistance, without a clear bias.



    Technical Outlook

    The pair shows some rejection around 1.1775 and the medium term bias is bearish, so this points toward a bounce from resistance and a move into the support at 1.1713 Ė 1.1700. If the pair moves above 1.1775, it will encounter the 50 period Exponential Moving Average, which is another place where downside movement may resume. A break of these two resistance levels would show that bullish pressure is increasing and would make 1.1840 the first target.

    Fundamental Outlook

    We have a relatively slow day ahead, with the most notable highlight being the release of the U.S. Factory Orders, which is an indicator that shows the change in the value of orders placed with manufacturers. A higher number suggests increased economic activity and usually strengthens the greenback but the impact is often low. The time of the release is 2:00 pm GMT and the expected change is 1.0% (previous -3.3%).

    GBP/USD

    The Pound-Dollar had a very slow day, hovering near the support at 1.3250 for the entire session. The British Services PMI showed a value slightly above expectations but it wasnít enough to generate strong movement.



    Technical Outlook

    Yesterdayís price action doesnít hold any clues for todayís direction but we still consider that a stronger retracement to the north is needed before 1.3250 can be broken. The first upside barrier is the psychological resistance at 1.3300, followed by 1.3350 and the 50 period Exponential Moving Average; these are good places where bearish movement may resume but itís also possible to see a break of 1.3250 before these marks are hit.

    Fundamental Outlook

    The Pound will not be affected by important economic releases today, so the technical aspect will be the main factor that will decide the pairís direction.
    Last edited by GDMFX; 1 Week Ago at 06:46 PM.

  5. #904
    FIB Gold Elite


    GDMFX's Avatar
    Join Date
    Oct 2012
    Location
    Kuala Lumpur, Malaysia
    Reputation
    Array
    Posts
    2,164
    FOREX NEWS: US DOLLAR GAINS MOMENTUM. NON-FARM PAYROLLS EYED FOR NEXT MOVE

    EUR/USD

    Forex News: Yesterday the pair failed to break the resistance at 1.1775 and bounced lower as a consequence, reaching the target at 1.1713. The U.S. economic data released during the day was positive, thus aiding the drop.



    Technical Outlook

    Currently the pair is testing the support zone between 1.1713 Ė 1.1700, fuelled by a positive US Dollar sentiment. From a short-to-medium term perspective price is in a range, and it bounced many times from this zone, so we cannot rule out another rejection. However, the technical side will be overshadowed by the fundamental today and we expect to see choppy/ranging price action until the NFP release. If the current support is broken, the next target will become 1.1660, followed by 1.1600 and to the upside 1.1775 remains first resistance.

    Fundamental Outlook

    At 12:30 pm GMT the U.S. Non-Farm Payrolls report, which is considered the most important employment data in the U.S., will be released. The report shows changes in the total number of employed people, excluding the farming industry and usually has a very high impact on the greenback, mostly because consumer spending is directly correlated with employment. The expected change is 82K (previous 156K) and higher numbers are beneficial for the economy.

    GBP/USD

    The Pound dropped again yesterday, mostly on rumours that British Prime Minister May will be asked to resign her position. Two support levels were broken and the bears remained in control throughout the day.



    Technical Outlook

    The recent drop was fuelled by fundamental reasons but from a technical point of view, the Relative Strength Index is oversold, suggesting that a climb will soon follow, with increased chances of that happening if 1.3100 is reached. However, todayís price action will also be affected by the important NFP release, so the technical side will remain secondary.

    Fundamental Outlook

    There are no scheduled economic releases for today but any news coming from the British political scene will probably have a high impact on the Pound. Also, the U.S. employment data will have a direct impact on the pair.

  6. #905
    FIB Gold Elite


    GDMFX's Avatar
    Join Date
    Oct 2012
    Location
    Kuala Lumpur, Malaysia
    Reputation
    Array
    Posts
    2,164
    FOREX NEWS: US DOLLAR VULNERABLE AFTER DISAPPOINTING NFP NUMBERS. UPSIDE PRICE ACTION TO FOLLOW


    EUR/USD


    Forex News: Friday, after an initial drop below 1.1700, the pair started to climb, mostly on US Dollar weakness triggered by the disappointing Non-Farm Payrolls report. Overall price action was choppy and volatility remained low until the NFP release.



    Technical Outlook

    The current move up may extend into the 50 period Exponential Moving Average because the US Dollar is affected by worse than expected employment data but we donít expect to see a move above the 50 EMA or above 1.1775. To the downside 1.1700 is the first barrier but the overall picture is unclear and we may get a ranging session due to the lack of economic releases.

    Fundamental Outlook

    Today United States banks will be closed in observance of Columbus Day and no major economic data will be released. On the Euro side we donít have anything important either and this will probably contribute to a slow day.


    GBP/USD

    Although the US Dollar suffered from a disappointing NFP report, the Pound couldnít erase the previous losses and instead the pair just paused from the drop seen throughout last week.



    Technical Outlook

    The last few candles are showing long wicks in their lower side and the pair is clearly oversold, as indicated by the Relative Strength Index which has been moving below its 30 level for quite a long while. Today we expect to see a climb into the previous support at 1.3100, which has now turned into resistance but overall we may see a ranging session, with price trapped between 1.3100 and 1.3000.

    Fundamental Outlook

    The United Kingdom didnít schedule any important economic releases for the day so the technical side will probably decide direction.

  7. #906
    FIB Gold Elite


    GDMFX's Avatar
    Join Date
    Oct 2012
    Location
    Kuala Lumpur, Malaysia
    Reputation
    Array
    Posts
    2,164
    FOREX NEWS: POUND IN THE SPOTLIGHT: BRITISH MANUFACTURING AND GDP NUMBERS


    EUR/USD


    Forex News: The pair remained in a relatively tight range yesterday and no special developments took place, mostly because the economic calendar lacked any important announcements.



    Technical Outlook

    Price is still trading below the 50 period Exponential Moving Average and above the support at 1.1700, which puts the pair in a range from a short term point of view. Today we expect to see a break of either one of these technical levels and the direction of the break will probably decide the direction for the day. Overall price is still making lower highs and lower lows, so we favour the short side as long as price is below the 50 EMA.

    Fundamental Outlook

    The ECOFIN Meetings will start today, attended by Finance Ministers from the EU member states. The Meetings are closed to the press but a formal statement will be released at the end of the day and sometimes participants talk to reporters during the day. Usually the Meetings donít have a huge market impact but caution is recommended nonetheless.


    GBP/USD

    The pair had a bullish day, with price climbing above 1.3160 and then returning below the level. The move was mostly caused by the overextended condition of the pair.



    Technical Outlook

    Yesterday we saw a retracement that is normal after the strong drop seen during the past week, but the overall direction remains down and we expect to see a bounce from the current level. As an alternate scenario, the move up may continue and reach the 50 period Exponential Moving Average but we donít expect a break.

    Fundamental Outlook

    The British Manufacturing Production will be the dayís highlight, scheduled for release at 8:30 am GMT. The indicator shows changes in the total value of goods produced by manufacturers and usually has a hefty impact on the Pound, with higher numbers strengthening it. The expected reading is 0.3% compared to the previous 0.5%.

    At 12:00 pm GMT the National Institute of Economic and Social Research (NIESR) will release a GDP Estimate and although this is not Government data, it can have a notable impact on the Pound. The previous estimate was 0.4% and higher numbers strengthen the currency.

  8. #907
    FIB Gold Elite


    GDMFX's Avatar
    Join Date
    Oct 2012
    Location
    Kuala Lumpur, Malaysia
    Reputation
    Array
    Posts
    2,164
    FOREX NEWS: ALL EYES ON THE US DOLLAR FOR THE FOMC MEETING MINUTES


    EUR/USD


    Forex News: Yesterday the pair climbed above the 50 period Exponential Moving Average, extending the bullish move and printing a higher high. Overall price is still in a range but with a bullish bias.



    Technical Outlook

    The move above the 50 EMA will probably bring in additional buyers, taking the pair into the resistance zone around 1.1840. If the pair does reach that mark, we expect to see a move south but as long as price stays above the 50 EMA, our short term bias is bullish. The balance of power will tilt towards the bears if price descends below 1.1775 and below the Moving Average.

    Fundamental Outlook

    At 6:00 pm GMT the FOMC will release the Minutes of their latest rate Meeting and some hints about a future rate hike are expected. If the document will reveal that the Fed is preparing to hike one more time this year, the US Dollar will probably respond by strengthening.


    GBP/USD

    Yesterday price climbed above 1.3160, partly due to better than expected British Manufacturing numbers. The pair is approaching the 50 EMA but the move lacks strong momentum.



    Technical Outlook

    The first destination for the pair seems to be the 50 EMA, followed soon after by the resistance at 1.3250. If the 50 EMA holds, we expect to see a drop through 1.3160 and closer to 1.3100 but otherwise, 1.3250 will become the first target, which if surpassed, will open the door for further upside movement. The FOMC Meeting Minutes released today will be a deciding factor for price direction.

    Fundamental Outlook

    There are no economic releases scheduled for the Pound today so all eyes will be on the US Dollar for the FOMC Minutes release.

  9. #908
    FIB Gold Elite


    GDMFX's Avatar
    Join Date
    Oct 2012
    Location
    Kuala Lumpur, Malaysia
    Reputation
    Array
    Posts
    2,164
    FOREX NEWS: FED OFFICIALS FEAR LOW INFLATION. ANOTHER HIKE THIS YEAR STILL POSSIBLE


    EUR/USD


    Forex News: The pair continued on a bullish path before the FOMC Meeting Minutes release, which revealed that some Fed officials fear that low inflation is not ďonly transitoryĒ. The greenback weakened at the time of the release but volatility remained relatively normal.



    Technical Outlook

    It looks like the Dollarís next move will be decided by inflation data but for the time being, the American currency lacks strength and the pair is climbing. However, price is currently at a resistance zone created by 1.1840 and 1.1875, with the Relative Strength Index in overbought territory. This calls for a bounce lower, which will probably occur once 1.1875 is hit. As long as the mentioned level remains intact, our bias is bearish, expecting a bounce lower.

    Fundamental Outlook

    The U.S. Producer Price Index will be todayís most notable release for the US Dollar, scheduled at 12:30 pm GMT. The indicator tracks changes in the price that producers charge for their goods and it has inflationary implications because a higher producer price usually leads to a higher consumer price. Todayís expected change is 0.4% (previous 0.2%) and numbers above forecast strengthen the greenback.

    At 2:30 pm GMT, ECB President Draghi will speak about monetary policy in Washington DC, at the Peterson Institute for International Economics. The impact cannot be anticipated but caution should always be used when heads of central banks speak publicly.


    GBP/USD

    The pair remained in a range for most of yesterdayís trading session and the FOMC Minutes created a small climb due to US Dollar weakness. Overall no special developments took place and price action was slow.



    Technical Outlook

    Currently the pair is drifting without clear direction, meaning that we can see either a move up or down. The 50 period Exponential Moving Average is also flat, adding to the uncertainty, so until we see a clear break of 1.3250 or 1.3160, our bias is neutral. The Relative Strength Index is not showing an overextended condition but the Stochastic is overbought and crossing down; this is not a strong bearish signal but combined with the inability to move above the 50 EMA, it may suggest that lower prices will follow.

    Fundamental Outlook

    The Pound has another light day ahead, so the technical aspect and the U.S. data will be the main price drivers.

  10. #909
    FIB Gold Elite


    GDMFX's Avatar
    Join Date
    Oct 2012
    Location
    Kuala Lumpur, Malaysia
    Reputation
    Array
    Posts
    2,164
    FOREX NEWS: U.S. INFLATION EYED FOR NEXT MOVE. POSSIBLE RATE HIKE IMPLICATIONS


    EUR/USD


    Forex News: After reaching the resistance at 1.1875, the pair bounced lower, due to the technical reasons outlined yesterday but also due to upbeat US Dollar sentiment triggered by positive economic data.



    Technical Outlook

    The overbought condition of the Relative Strength Index combined with the resistance level at 1.1875 generated a bounce lower, which is likely to extend into the 50 period Exponential Moving Average. However, if price returns above 1.1840, we will most likely see another test of 1.1875 but we donít expect major advances north until a deeper retracement occurs.

    Fundamental Outlook

    Today we have two very important releases scheduled at 12:30 pm GMT: the U.S. Consumer Price Index (expected change 0.6%) and the U.S. Retail Sales (expected change 1.7%). The former is the main gauge of inflation and is especially important now because some Fed officials see inflation as too low and this could potentially affect their decision to hike later this year.

    Sales made at retail levels represent the major part of consumer spending and in turn, a big part of overall economic activity, thus higher numbers usually strengthen the currency.


    GBP/USD

    The Pound weakened during yesterdayís session on concerns that Brexit negotiations are not going as smooth as they should and this combined with positive U.S. data triggered a drop below support.



    Technical Outlook

    The pair broke 1.3160 and now it looks like itís testing the level from below. If price remains below 1.3160 and below the 50 period Exponential Moving Average, we expect to see a move into 1.3100. The oscillators are starting to gain downside momentum and the Pound is affected by Brexit negotiations, so the bias is negative but a lot will depend on the U.S. data released throughout the day.

    Fundamental Outlook

    The economic calendar for the Pound is light today, without any major releases, so the technical aspect and the U.S. data will be the main price drivers.

  11. #910
    FIB Gold Elite


    GDMFX's Avatar
    Join Date
    Oct 2012
    Location
    Kuala Lumpur, Malaysia
    Reputation
    Array
    Posts
    2,164
    box - einstein 250x250
    FOREX NEWS: U.S. INFLATION DISAPPOINTS, US DOLLAR STILL RESILIENT


    EUR/USD


    Fores News: The pair spiked higher Friday when the U.S. Consumer Price Index showed a value below expectations. However, most of the US Dollar losses were soon erased and the pair finished the week below resistance.



    Technical Outlook

    As long as the pair is trading above the 50 period Exponential Moving Average, the bias is still bullish but it must be noted that recently the resistance at 1.1875 was touched twice and each time price dropped. This shows that bearish pressure is increasing and the bulls lack the necessary strength to take price higher, at least for the time being. If resistance is not broken early in the session, we expect a drop through the 50 EMA and into 1.1775.

    Fundamental Outlook

    The dayís only notable release is the Empire State Manufacturing Index, which is a survey of about 200 manufacturers from the New York state. The respondents are asked to rate the level of business conditions and the survey acts as a leading indicator of optimism and economic health. The time of release is 12:30 pm GMT and the expected reading is 20.3 but the survey has a limited impact.


    GBP/USD

    The pair showed choppy price action Friday and ended the session close to where it started it. The US Dollar weakened at the time of the CPI release but erased most of the losses soon after.



    Technical Outlook

    Friday the bulls attempted to take price higher but failed and this resulted in a candle with a long upper wick, which is a sign of rejection, so we expect a move lower for today. However, the pair will most likely remain between the resistance at 1.3350 and the support at 1.3250 for the entire trading session or at least for a big part of it.

    Fundamental Outlook

    The Pound has a light economic calendar today, so the technical aspect will decide the pairís direction. The lack of economic data releases may also trigger a slow day.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
footer - open-an-account