Page 41 of 41 FirstFirst ... 31394041
Results 401 to 405 of 405

Thread: Technical News | Gdmfx Brokerage | Daily

  1. #401
    Senior Member GDMFX's Avatar
    Join Date
    Nov 2015
    Posts
    476

    Default

    FOREX NEWS: US DOLLAR ERASES LOSSES. SUPPORT TARGETED


    EUR/USD


    Forex News: The pair climbed before the Federal Funds Rate release, on the back of disappointing values for the U.S. CPI and Retail Sales. However, the Fed increased the rate to <1.25% as expected and Fed Chair Yellen was mostly hawkish during her Press Conference, so the US Dollar erased most of the previous losses.



    Technical Outlook

    The resistance at 1.1280 was breached yesterday but the bulls couldn’t break the barrier at 1.1300 and a hawkish Yellen press conference fuelled the greenback, erasing almost all losses. Strictly from a technical point of view, the pair is showing clear rejection at 1.1280 resistance and this makes the short term bias bearish. If the pair remains below 1.1240 and below the 50 period Exponential Moving Average, we expect a break of 1.1170.

    Fundamental Outlook

    The pair will not be affected by major economic indicator releases today, so the main focus will be on the technical aspect. The impact of yesterday’s events will likely extend to today’s trading session.


    GBP/USD

    Both the Pound and US Dollar were affected by disappointing data during the first part of yesterday’s trading session and this created a lot of back and forth action. Later in the day, Fed Chair Yellen’s speech was the catalyst for a move lower.



    Technical Outlook

    After breaking 1.2770 resistance and breaching the 50 period EMA, the pair reversed and is now trading below resistance once again. The pair remains volatile and without a clear direction but we believe that the hawkish stance adopted by Fed’s Yellen will generate additional downwards pressure. As long as the pair is trading below the Moving Average and below 1.2770 resistance, our bias is bearish.

    Fundamental Outlook

    The British Retail Sales are released at 8:30 am GMT, showing changes in the total value of sales made through retail outlets. Usually this indicator has a high impact, and numbers above forecast, which for today is -0.9%, strengthen the Pound.

    At 11:00 am GMT the Bank of England will announce the interest rate (no change expected from the current 0.25%), along with the Monetary Policy Summary, which contains insights into the reasons that determined the rate votes. Volatility is likely to surge, especially if there’s a notable change of stance in the MPC members’ votes.

  2. #402
    Senior Member GDMFX's Avatar
    Join Date
    Nov 2015
    Posts
    476

    Default

    FOREX NEWS: US DOLLAR BACK WITH A VENGEANCE, FINISHING THE WEEK LOWER


    EUR/USD


    Forex News: Yesterday the US Dollar continued the momentum started a day before by the hawkish Yellen press conference and the pair had a strongly bearish session, breaking support decisively.



    Technical Outlook

    The bears are definitely winning the short term battle on the back of US Dollar strength but the pair is approaching an important hurdle represented by the support at 1.1120. Last time the pair touched this support, it bounced strongly to the upside, so the same scenario may happen again. If that is the case, we will probably see a move into 1.1170, which may turn into resistance. As long as the pair is trading below 1.1170, our bias is bearish, anticipating a move into 1.1075.

    Fundamental Outlook

    The Euro will be affected today at 9:00 am GMT by the release of the Final version of the Eurozone Consumer Price Index. This is the least important version of the CPI, but still, numbers above the forecast 1.4% can strengthen the currency.

    On the US Dollar side we have the University of Michigan Consumer Sentiment, a survey that gauges the opinions of consumers about overall economic conditions. The time of the release is 2:00 pm GMT and the expected number is 97.2; usually a reading above expectations strengthens the greenback.


    GBP/USD

    The Bank of England kept the rate unchanged as expected, but surprisingly, 3 out of the 8 MPC members voted for an increase. This generated Pound strength but some of the gains were erased soon after.



    Technical Outlook

    The pair continues to show choppy price action and although volatility is pretty high, the direction is unclear. Yesterday’s price action shows rejection at the 50 period Exponential Moving Average and the pair is trading below 1.2770 resistance but on the other hand, the Pound is fuelled by the hawkish change in stance of the MPC voting members, so overall the pair is in neutral territory. As long as price remains below the 50 EMA, our bias is slightly bearish.

    Fundamental Outlook

    The United Kingdom didn’t schedule any important releases for today, so the main focus will be on the technical side but the pair will be influenced by the U.S. Consumer Sentiment survey.

  3. #403
    Senior Member GDMFX's Avatar
    Join Date
    Nov 2015
    Posts
    476

    Default

    FOREX NEWS: PRICE REACHES DYNAMIC RESISTANCE. BOUNCE-OR-BREAK SCENARIOS IN PLAY


    EUR/USD


    Forex News: Friday the US Dollar was weakened by disappointing values for the University of Michigan Consumer Sentiment survey and the Building Permits, so overall the pair showed bullish price action, reaching the 50 period Exponential Moving Average.



    Technical Outlook

    After coming close to 1.1120 support, price started to climb and stopped at the 50 EMA; however, this happened because the markets closed for the weekend, so we cannot say for sure if we are dealing with rejection or if the pair will continue upwards. The question will be answered today: a break will make 1.1240 the first target, while a bounce lower will take price into 1.1170 and possibly 1.1120. We slightly favour a move lower because lately the pair has been under bearish pressure.

    Fundamental Outlook

    The economic calendar lacks major events for both currencies in the pair, so the technical aspect will prevail. It must be noted however that FOMC Member Dudley will speak at 12:00 pm GMT and FOMC Member Evans will speak at 11:00 pm GMT and this could generate increased volatility but the impact depends on the matters discussed and cannot be anticipated.


    GBP/USD

    Price continued its choppy movement Friday and breached the 50 period Exponential Moving Average only to return below it almost immediately. Overall we didn’t see clear determination from either part, and the pair is mostly ranging.



    Technical Outlook

    The last candles are showing long wicks, mostly in their upper side, which is a sign of rejection. This makes us anticipate a drop below 1.2770 if the 50 period EMA is not broken. However, the pair lacks clear direction so we cannot rule out a bullish move, which will probably find resistance at 1.2820. Overall, we expect a slow trading session today.

    Fundamental Outlook

    Similar to the Euro and US Dollar, the Pound will not be affected today by major economic releases, so the main focus will be on the technical side.

  4. #404
    Senior Member GDMFX's Avatar
    Join Date
    Nov 2015
    Posts
    476

    Default

    FOREX NEWS: US DOLLAR SHOWS RECOVERY SIGNS. SUPPORT IN DANGER


    EUR/USD


    Forex News: Yesterday the fundamental scene lacked any major releases and Mondays are typically slow days, so all this translated into slow trading, with price confined in a 50 pip range for most of the say.



    Technical Outlook

    Although yesterday the pair didn’t cover a lot of distance, it is now clear that the 50 period Exponential Moving Average is providing a strong resistance, rejecting price lower. If 1.1170 support can be broken decisively, we expect to see a move into 1.1120 but we cannot exclude the possibility of a bounce at 1.1170 and a move above the 50 EMA. If this is the case, then 1.1240 will become the first target. As long as the pair is trading below the 50 EMA the bias is slightly bearish but neither side is in clear control.

    Fundamental Outlook

    FOMC Member Fischer will speak today at 12:00 pm GMT and later at 7:00 pm GMT, FOMC Member Kaplan will speak at a different venue. These speeches are the only notable events for today but we don’t expect them to trigger huge movement unless surprising matters are discussed.


    GBP/USD

    Trading remained choppy yesterday, as the pair continued to print candles with long wicks, showing indecision. However, later in the day the bears managed to take control and to take the pair below 1.2770.



    Technical Outlook

    The bearish momentum started yesterday is likely to continue during today’s session and we may see a move closer to 1.2690 but that target will not be reached during the course of one day probably, considering the lack strong movement seen during the last period. The Pound is under bearish pressure but it remains high-risk due to Brexit negotiations and an uncertain political scene.

    Fundamental Outlook

    Today at 7:30 am GMT, BOE Governor Mark Carney will speak at the Mansion House dinner, in London. The Pound is likely to show increased volatility at the time and as always, caution should be used when heads of central banks speak publicly.

  5. #405
    Senior Member GDMFX's Avatar
    Join Date
    Nov 2015
    Posts
    476

    Default

    FOREX NEWS: US DOLLAR RULES THE ACTION, POUND WEAKENED BY CARNEY’S COMMENTS


    EUR/USD


    Forex News: The pair had a choppy session yesterday but overall the bears won the battle and broke 1.1170 after the bounce at the 50 period Exponential Moving Average.



    Technical Outlook

    The next destination seems to be the support located at 1.1120, followed by 1.1075. The market has a bearish bias and the US Dollar is strengthening but a clear trend is not in place, so we will probably see moves to the north when price encounters support and the Relative Strength Index becomes oversold. As long as these potential rallies don’t extend past the 50 period EMA, our bias remains bearish.

    Fundamental Outlook

    The economic scene remains slow today, with the U.S. Existing Home Sales being the only notable release. The indicator shows the annualized number of houses sold during the reported month (excluding new houses) and has a medium impact on the US Dollar. The time of the release is 2:00 pm GMT and the expected number is 5.54 million.


    GBP/USD

    The Pound was weakened by dovish comments made by BOE Governor Carney during his speech at the Mansion House, so the pair showed a strongly bearish session yesterday, breaking the first support and even breaching 1.2635.



    Technical Outlook

    The minor support at 1.2690 was easily broken yesterday and the pair continued through the more important 1.2635. Now the next destination is 1.2570 and once price gets there, we anticipate a move higher due to the oversold condition of the Relative Strength Index and the fact that the pair traveled a long distance south in a relatively short period of time, without retracement.

    Fundamental Outlook

    Today’s highlight for the Pound will be the release of the British Public Sector Net Borrowing, an indicator that shows the difference between spending and income for the public sector. A negative number shows excess and a positive number shows deficit; today’s forecast is a deficit of 7.3 billion, while the previous was 9.6 billion and usually a lower number strengthens the Pound but the impact is often mild. The time of release is 8:30 am GMT.

Similar Threads

  1. Daily Market News by Xtreamforex.com
    By xtreamforex.com in forum Daily Market News
    Replies: 25
    Last Post: 03-09-2017, 07:00 AM
  2. FxNet Daily Market News
    By FxNet in forum Daily Market Analysis
    Replies: 10
    Last Post: 04-19-2016, 11:41 AM
  3. Daily Market News By FXNET.com
    By FxNet in forum Daily Market Analysis
    Replies: 61
    Last Post: 03-24-2016, 02:11 PM
  4. Daily Market News
    By hoangtri in forum Daily Market News
    Replies: 4
    Last Post: 01-04-2016, 03:37 PM
  5. Daily Market News by TradingForexcom
    By TF2012 in forum Daily Market News
    Replies: 48
    Last Post: 01-31-2013, 09:45 AM

Bookmarks

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
  •