OctaFX_Farid Posted January 15, 2015 Author Share Posted January 15, 2015 GBP/USD wavers around 1.5200 FXStreet (Córdoba) - GBP/USD has had a quiet day considering the turbulence in FX markets triggered by Swiss National Bank decision to abandon the franc cap. Cable fell to a low of 1.5156 as immediate reaction, but it managed to erase intraday losses and climbed to fresh daily highs at the 1.5265 area. GBP/USD has steadied a few pips above 1.5200, where it trades little changed on the day, despite GBP/CHF strong slump toward the 1.2740 zone, level last seen in 2011. GBP/USD technical outlook “The 1 hour chart shows price below its 20 SMA as indicators head lower around their midlines, while in the 4 hours chart the price holds above a bullish 20 SMA whilst indicators continue to aim higher after bouncing from their midlines, keeping the downside limited for now”, said Valeria Bednarik, chief analyst at FXStreet. Bednarik locates immediate resistance levels at 1.5220, 1.5275 and 1.5320, while she sees supports at 1.5180, 1.5145 and 1.5100. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 15,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 16, 2015 Author Share Posted January 16, 2015 Dukascopy announces that it is secure after yesterday's CHF volatility FXStreet (London) - Swiss brokerage Dukascopy Group has announced that it remains on firm footing after yesterday’s CHF volatility. Dukascopy had previously warned clients of the risk of an end to the EUR/CHF peg in October 2014. "Due to the possibility of a break of the 1.2000 floor in EUR/CHF which may see significant price gaps and cause negative equity on client accounts, Dukascopy Bank is forced to implement a maximum leverage for EURCHF exposures of 1:10 as of 12 October 2014". The statement from Dukascopy comes after brokers Alpari and Excel Markets were forced to shutter as a result of substantial client losses. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16,2015 OctaFX.Com News Updates EUR/USD drops to 1.1540 FXStreet (Edinburgh) - EUR/USD accelerated its downside following further US data releases on Friday, meandering around multi-year lows near 1.1540. EUR/USD looking for direction The pair quickly left behind the post-SNB lows in the 1.1570 region, unable to pick up pace despite both the Industrial Production and Capacity Utilization in the US economy came in below consensus. Industrial Production contracted 0.1% inter-month in December while the Capacity Utilization decreased to 79.7% during the same period, vs. 80% expected and previous. The Reuters/Michigan index is due next, with surveys expecting an improvement to 94.1 for the present month, up from 93.6. EUR/USD key levels At the moment the pair is losing 0.64% at 1.1544 and a breach of 1.1505 (low Nov.12 2003) would expose 1.1445 (low Nov.11 2003). On the flip side, the initial barrier lines up at 1.1647 (hourly high Jan.16) followed by 1.1792 (high Jan.15) and finally 1.1805 (200-h MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16,2015 OctaFX.Com News Updates Reuters/Michigan consumer sentiment index jumps to 98.2 FXStreet (Córdoba) - Reuters/Michigan consumer sentiment index rose to 98.2 in January, according to preliminary estimates, recording its highest level in more than 10 years. The index rose 4.6 from a final December reading of 93.6, also beating market’s consensus of 94.1. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
Keith Park Posted January 17, 2015 Share Posted January 17, 2015 Sometimes I think what would be if there was no OctaFX broker, It would have been dead and buried in Forex trading. I can’t imagine my life beyond this company. I get nightmares when I remember what was my life before starting trading with OctaFX broker, it was horrible because I used to only fail and struggle due to wrong selection and lacking of knowledge or experience about it. It is great thanks to my dear friend Abbas who guided me to OctaFX broker and also told me about this analysis service, it changed my life from root level. It is like automatic trading systems for me where I just follow what you guys tell me and it is only because I am getting results from past 5 months. Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 19, 2015 Author Share Posted January 19, 2015 USD/JPY downside looks to 115.50 – Commerzbank FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, highlighted the relevance of the support level in the mid-115.00s for USD/JPY. Key Quotes “Loss of 115.50 would introduce scope for a retracement towards 113.50/111.55, but currently the Elliott wave count is suggesting that this will hold”. “Initial resistance is offered by the 55 day ma at 118.15, tougher resistance is the 120.09 short term downtrend and directly above the market lies the 122.58/123.40 major resistance, this is the location of the 14 year downtrend and the long term Fibonacci retracement”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 19,2015 OctaFX.Com News Updates USD/JPY downside looks to 115.50 – Commerzbank FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, highlighted the relevance of the support level in the mid-115.00s for USD/JPY. Key Quotes “Loss of 115.50 would introduce scope for a retracement towards 113.50/111.55, but currently the Elliott wave count is suggesting that this will hold”. “Initial resistance is offered by the 55 day ma at 118.15, tougher resistance is the 120.09 short term downtrend and directly above the market lies the 122.58/123.40 major resistance, this is the location of the 14 year downtrend and the long term Fibonacci retracement”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 19,2015 OctaFX.Com News Updates Brent trades below USD 50/barrel FXStreet (Mumbai) - Brent Crude prices fell below USD 50/barrel today after Iraq announced record oil production, thereby increasing concerns of supply glut. The march futures traded 1.64% lower at USD 49.35/barrel at the time of writing, compared to the previous session’s close at USD 50.17/barrel. Prices fell from the session high of USD 50.34 on concerns of increased supply from Iraq. Iraqi Oil Minister Adel Abdel Mehdi said on Sunday Iraq pumped 4 million barrels per day (bpd) of oil in December, its highest ever. Meanwhile, Brent was also hit by expectations of a weak Q4 GDP print in China, due for release tomorrow. The country is expected to report GDP at 7.2% year-on-year, its weakest since the 2008 crisis. Brent Technical Levels The immediate support is seen on the hourly charts at 49.27, under which losses could be extended to 48.73 levels. Meanwhile, resistance is seen at 50.02 and 50.34 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 19,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 20, 2015 Author Share Posted January 20, 2015 EUR/USD could test 1.10 in 12-month view – Rabobank FXStreet (Edinburgh) - Jane Foley, Senior Currency Strategist at Rabobank, suggests the value of the European pair could slip to 1.10 in a 12-month horizon. Key Quotes “By whipping the markets into a frenzy of anticipation ahead of Thursday’s policy-meeting, ECB President Draghi has succeeded in squeezing out a huge amount of market impact from the promise of QE and the currency markets are taking the strain”. “There is the danger of a ‘sell on the fact’ reaction which could push the EUR a little higher”. “However, Draghi has proved himself in the past to be masterful in directing markets”. “The EUR may not be a policy tool of the ECB, but the policy decisions taken since June last year suggest that the central bank is bent on weakening it”. “We have revised lower our 12 mth EUR/USD forecast to 1.10”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates Germany repatriated 120 tonnes of gold in 2014 - Deutsche Bundesbank FXStreet (Mumbai) - Deutsche Bundesbank said on Monday it had accelerated its bullion repatriation scheme last year, bringing back German gold from Paris and New York. The German central bank said it “stepped up” its bullion transfers during 2014, bringing 35 tonnes of its gold from Paris and another 85 tonnes from New York. The repatriation scheme is the country’s effort to bring 674 tonnes, or half of Germany’s total stocks, back to Frankfurt by the end of the decade. “Implementation of our new gold storage plan is proceeding smoothly. Operations are running very much according to schedule," Carl-Ludwig Thiele, member of the Executive Board of the Deutsche Bundesbank said in a statement. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates 依旧倾向逢高沽英镑——华侨银行 FXStreet-华侨银行策略师Ng称，依旧倾向逢高沽英镑，下行势能犹存。 尽管欧元/美元反弹有限，但英镑依旧设法走强。 焦点在于明天英央行会议纪要，特别关注通胀描述。 期间，继续建议逢高沽英镑，目标指向1.5035。 OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 20, 2015 Author Share Posted January 20, 2015 GBP/USD eases from daily highs FXStreet (Córdoba) - GBP/USD staged a decent comeback from daily lows and recovered more than 100 pips, although it faced resistance at the 100-hour SMA and retreated somewhat. GBP/USD managed to climb to the 1.5165 zone, posting a daily high during the European session, but lost momentum and pulled back a few pips. At time of writing, the pair is trading around 1.5150, up 0.28% on the day, having bounced from a low of 1.5056. Cable has had a volatile day despite the absence of economic data, as investors gear up for tomorrow's UK jobs and earnings data and the latest BoE’s meeting minutes. GBP/USD technical perspective “Some follow through above 1.5180 should favor more intraday gains towards 1.5220/30 area, whilst if this last gives up, 1.5270 area comes next”, said Valeria Bednarik, chief analyst at FXStreet. “To the downside, 1.5110 is the immediate support and a break below it once again will likely lead to a retest of 1.5030/50 price zone”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates GBP/AUD inches closer to 100-DMA FXStreet (Mumbai) - The GBP/AUD pair rose sharply today as the gains in the UK Gilt yields pushed the Pound higher across the board, while the Aussie weakened on concerns of a slowdown in China. The pair currently trades 0.71% higher at 1.8536, after having recovered from a low of 1.8344 hit earlier today. The AUD/USD pair declined 0.19%, after the Chinese full year 2014 GDP came-in at 7.4%, the slowest in 24 years. Meanwhile, the gains in the UK Gilt yields at the short-end as well as the long-end of the yield curve helped GBP/USD to recovery early losses to trade 0.53% higher at 1.5192 levels. Thus, the GBP/AUD pair is now within a touching distance from the 100-DMA located at 1.8552 levels. GBP/AUD Technical Levels The immediate resistance is seen at 1.8552 (100-DMA), above which gains could be extended to 1.8590 levels. Meanwhile, support is seen at 1.8527 (hourly 200-SMA) and 1.8489 (hourly 100-SMA) levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 21, 2015 Author Share Posted January 21, 2015 AUD/JPY drops to 96.20 FXStreet (Córdoba) - AUD/JPY weakened after the Bank of Japan meeting and bottomed during the European session at 96.19, reaching a 2-day low. From 96.20 the pair rebounded and currently is trading slightly above 96.50, almost 50 pips below the price it closed yesterday. Despite moving off session lows, today’s trend continues to point to the downside. Earlier the pair broke a short term ascendant trendline removing bullish momentum. To the downside below daily lows, the next support level could be located at 96.00, 95.60 (January 7) and 95.20. To the upside, resistance might lie at 96.70, 96.95 and 97.35/40 (January 20 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 21,2015 OctaFX.Com News Updates USD/CAD testing lows around 1.2070 FXStreet (Edinburgh) - The US dollar is losing the grip vs. its main competitors on Wednesday, sending USD/CAD to challenge intraday lows registered overnight in the vicinity of 1.2070. USD/CAD focus on BoC In the current context of USD-weakness, CAD traders will look for the result from the Wholesale Sales during November (-0.1% exp.) ahead of the key BoC monetary policy meeting and subsequent press conference by Governor S.Poloz. Market participants will scrutinize the BoC statement in light of the ongoing decline in crude oil prices, as well as the growth and inflation prospects in the domestic economy in a scenario of US solid economic recovery. Strategists at TD Securities commented, “If the BoC does disappoint very dovish expectations, we look for USDCAD to dip briefly but the underlying message of economic softness will help underpin the broader bull trend in funds; look to fade short-term weakness is USDCAD; we expect the market to press on towards 1.22+ near term”. USD/CAD levels to consider At the moment the pair is losing 0.28% at 1.2071 with the immediate support at 1.1985 (high Jan.19) followed by 1.1959 (Tenkan Sen) and then 1.1940 (low Jan.20). On the upside, a surpass of 1.2115 (high Jan.20) would clear the way towards 1.2200 (psychological level) and finally 1.2265 (high Apr.28 2009). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 21,2015 OctaFX.Com News Updates Gold steadies around USD 1300 FXStreet (Mumbai) - Gold prices have consolidated around USD 1300 levels as we head into the US session with the second tier US housing data due for release. The yellow metal currently trades 0.67% higher for the day at USD 1302.50/Oz levels, compared to the previous session’s close at USD 1294.20/Oz levels. The metal climbed above USD 1300 mark for the first time since August 2014 as the European Central Bank (ECB) is widely expected to announce a balance sheet expansion program in the form of sovereign QE. Meanwhile, the uncertainty surrounding the Greek vote also supports Gold. An additional support came in the form of Bank of England minutes, which showed two dissenters of the ZIRP switching sides in favor of holding interest rates at a record low. The metal may extend gains if the US stock markets turn risk averse. Moreover, the major index futures are pointing to a weak opening on Wall Street. Gold Technical Levels The immediate resistance is seen at 1309.06 (100-WMA), above which gains could be extended to 1323.2 levels. Meanwhile, support is seen at 1300.00 and 1292.1 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 21,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 21, 2015 Author Share Posted January 21, 2015 EUR quiet, consolidating ahead of Thursday’s ECB meeting – Scotiabank FXStreet (Barcelona) - Eric Theoret, CFA, CMT, Currency Strategist, at Scotiabank, shares that EUR is quiet and consolidating today as markets keenly await ECB’s meeting tomorrow, with the focus remaining on the recent low near 1.1450 levels. Key quotes “EUR is up a modest 0.2% vs the USD, underperforming most of its peers within the context of broad-based USD weakness ahead of the NA session. The absence of data will leave EUR trading on the broader market tone, with an intensified risk of headline-driven movement ahead of Thursday’s ECB meeting.” “EURUSD short-term technicals: bearish—all signals are bearish and hint to further downside as we note the confirmation provided by momentum indicators amid recent declines in spot.” “Focus remains on the recent low just above 1.1450, below which we look to 1.1213 as the next key long term technical level that represents the 61.8% Fibonacci retracement level of the rally from 2000.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 21,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 22, 2015 Author Share Posted January 22, 2015 Draghi has plenty of scope for surprises – BBH FXStreet (Barcelona) - The Research Team at Brown Brothers Harriman note that the recent speculation regarding the size of the ECB QE program has failed to provide any information on the duration and other key elements of the program, and hence Draghi has plenty of scope to surprise the markets in his speech later today. Key Quotes “Today is all about the ECB. The press claims to have access to people or documents that have the ECB buying 50 bln euros of bonds a month. The duration of the program is not clear. There was a conflict in the media. Some claimed that the program would last a year. Others claimed it would last until the end of 2016.“ “Aside from duration, other key elements of the program were apparently not leaked. These include the pooling of risk. Specifically, are the bonds kept on the ECB's balance sheet or the national central banks. Creditors and debtors are aligned on different sides of the issues. Also, what instruments can be bought? Should bonds with a negative yield be purchased? What about bonds below investment grade? What are the maturity guidelines? The point is that there are many moving parts, and there is plenty of scope for surprises.” “There is some speculation that the ECB could push its deposit rate more into negative territory and/or cut the 30 bp emergency lending rate. The focus has been almost exclusively on sovereign bonds, but what of the EU and EIB bonds? We had suggested foreign bonds (US Treasuries), but Draghi dismissed this as too much like intervention.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 22, 2015 Author Share Posted January 22, 2015 Gold rises sharply in EUR terms on ECB’s balance sheet expansion efforts FXStreet (Mumbai) - Gold prices rose sharply in EUR terms after the European Central Bank (ECB) announced fresh program to purchase public and private debt as a part of its balance sheet expansion effort. The XAU/EUR pair or Gold in EUR terms traded 1.5% higher at EUR 1130.39/Oz levels, after having recovered from the low of EUR 1100.15 levels seen earlier today. Under the expanded asset purchase program, the ECB, along with the national central banks, shall begin purchasing public and private debt worth EUR 60 billion per month across the Eurozone nations. The unprecedented program shall continue till September 2016 and shall include purchases of debt with maturities 2-20 years. The EUR/USD pair fell to 1.14669 levels; down 1.21% trade for the day. Meanwhile, yields in Germany declined while the 10-yr yields in Italy and Spain hit record lows. Gold (EUR) Technical Levels The immediate resistance is seen at 1136, above which gains could be extended to 1150 levels. Meanwhile, support is seen at 1127.05 and 1105.95 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22,2015 OctaFX.Com News Updates ECB meeting: Euro to move lower after a short term squeeze higher – Investec FXStreet (Barcelona) - Jonathan Pryor, head of FX dealing at Investec Corporate and Institutional Treasury, expects euro to move lower and weaken further, supported by the ECB pumping Euro 1trn into the market over the next one and half years. Key Quotes "In the short term we risk a squeeze higher in the Euro now all policy is announced and there is no additional stimulus for the market to price in or pre-empty - what traders call ‘buy the rumour, sell the fact’. Once the dust has settled, we expect the Euro to move lower from here as the continued effect of negative deposit rates, combined with the flooding of over Euro 1 trillion extra into the market over the next year and a half, should continue to weaken the single currency." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22,2015 OctaFX.Com News Updates EUR/DKK hits 3-week high after DNB cuts rates for second time this week FXStreet (Córdoba) - EUR/DKK rose to fresh 3-week high after the Danish Nationalbank cut its deposit rate to -0.35% from -0.2%, the second cut in 4 days, in response to ECB expanded asset purchase programme. The Danish Central Bank had lowered its deposit rate to -0.2% from -0.05% on Monday. EUR/DKK climbed to a recovery high of 7.4470 after the ECB and the DNB moves. At time of writing, the pair is trading at the 7.4420 area. The Danish decision came 90 minutes after the ECB announcement as the DNB fights to prevent the krone to appreciate. EUR/DKK fell to a low of 7.4283 on Jan 15 in the aftermath of the SNB decision to remove the EUR/CHF floor. Increasing pressure on the euro has supposedly force the Danish Bank to intervene in the FX market and to conduct its second rate cut this week. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 24, 2015 Author Share Posted January 24, 2015 US Session Recap: Greenback profits taken off table FXStreet (Guatemala) - Since the ECB made the deaccession to launch its sovereign QE programme, and with the SNB recent chopping the EUR/CHF floor, investors are liking the US more and more. The greenback is maintaining the top spot, despite profit taking, although it is losing the competitive edge when it comes to the currency wars, strengthening further vs the euro and subsequently across the board and analysts are now citing parity in 2016/17 - not good for US exporting business. Anyway, Stocks performed well as diversification of cash flows continues to favour the US assets. Stocks were posting scores on the board close to January's highs earlier on in the session. There were a handful of data events at the start of the shift, but thereafter, the session was down to traders to determine ebbs and flows of the currency tides for themselves. EUR/USD took back some ground lost from down on the lows at 1.1114 and managed a close back on to the 1.12 handle, albeit down from the highs of the recovery drift at 1.1289 down to 1.1207. GBP/USD is essentially following in the tracks of the EUR and this move from the ECB is dangerous for committed and stubborn Sterling bulls, as where the euro goes the pound will likely follow. Bears stamped on attempts through 1.5020 resistance drowning the pound back below the 1.50 handle to 1.4985, although finishing up on the day close to half a cent. USD/JPY stuck to a tighter range on the session of a choppy week, and settled into a sideways pattern around 117.80 resistance/support level post an early session recovery from 117.53. USD/CAD was trading better bid with good retails sales figures and the Bank of Canada Consumer Price Index Core (MoM) (Dec) coming in higher than expected. We went form 1.2377 to 1.2438 in the session. EUR/CHF was a choppy affair recovering from 0.9791 to 99.11 before dropping back to 0.9843, spiking again to 99.10 and chopping its way down through a drift to 98.50 and recovering for a close at 0.9870. USD/CHF was volatile with large swings, more so than EUR/CHF but with a load up on dips strategy with a low of 0.8707 for a high of 0.8811. Key Events: Bank of Canada Consumer Price Index Core (MoM) (Dec) bullish -0.3 vs -0.4 expected Canadian Consumer Price Index (MoM) (Dec) bearish -0.7% vs -0.6% exp Canadian Retail Sales (MoM) (Nov) bullish 0.4% vs -0.2% exp US Markit Manufacturing PMI (Jan) bearish 53.7 vs 54.0 exp US CB Leading Indicator (MoM) (Dec) bullish 0.5% vs 0.4% exp Existing Home Sales Change (MoM) (Dec) neutral 2.4% OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 24,2015 OctaFX.Com News Updates US Session Recap: Greenback profits taken off table FXStreet (Guatemala) - Since the ECB made the deaccession to launch its sovereign QE programme, and with the SNB recent chopping the EUR/CHF floor, investors are liking the US more and more. The greenback is maintaining the top spot, despite profit taking, although it is losing the competitive edge when it comes to the currency wars, strengthening further vs the euro and subsequently across the board and analysts are now citing parity in 2016/17 - not good for US exporting business. Anyway, Stocks performed well as diversification of cash flows continues to favour the US assets. Stocks were posting scores on the board close to January's highs earlier on in the session. There were a handful of data events at the start of the shift, but thereafter, the session was down to traders to determine ebbs and flows of the currency tides for themselves. EUR/USD took back some ground lost from down on the lows at 1.1114 and managed a close back on to the 1.12 handle, albeit down from the highs of the recovery drift at 1.1289 down to 1.1207. GBP/USD is essentially following in the tracks of the EUR and this move from the ECB is dangerous for committed and stubborn Sterling bulls, as where the euro goes the pound will likely follow. Bears stamped on attempts through 1.5020 resistance drowning the pound back below the 1.50 handle to 1.4985, although finishing up on the day close to half a cent. USD/JPY stuck to a tighter range on the session of a choppy week, and settled into a sideways pattern around 117.80 resistance/support level post an early session recovery from 117.53. USD/CAD was trading better bid with good retails sales figures and the Bank of Canada Consumer Price Index Core (MoM) (Dec) coming in higher than expected. We went form 1.2377 to 1.2438 in the session. EUR/CHF was a choppy affair recovering from 0.9791 to 99.11 before dropping back to 0.9843, spiking again to 99.10 and chopping its way down through a drift to 98.50 and recovering for a close at 0.9870. USD/CHF was volatile with large swings, more so than EUR/CHF but with a load up on dips strategy with a low of 0.8707 for a high of 0.8811. Key Events: Bank of Canada Consumer Price Index Core (MoM) (Dec) bullish -0.3 vs -0.4 expected Canadian Consumer Price Index (MoM) (Dec) bearish -0.7% vs -0.6% exp Canadian Retail Sales (MoM) (Nov) bullish 0.4% vs -0.2% exp US Markit Manufacturing PMI (Jan) bearish 53.7 vs 54.0 exp US CB Leading Indicator (MoM) (Dec) bullish 0.5% vs 0.4% exp Existing Home Sales Change (MoM) (Dec) neutral 2.4% OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 24,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 26, 2015 Author Share Posted January 26, 2015 EUR/SEK hits highs near 9.3500 FXStreet (Edinburgh) - The euro is appreciating vs. the Swedish krona on Monday, lifting EUR/SEK to test session highs around 9.3500. EUR/SEK supported by 100-d MA The Nordic cross seems to have found decent support around the 100-day moving average in the 9.3000 area, correcting lower from December’s tops near 9.7400. In the meantime, disinflationary pressures in the Swedish economy remain the main concern for the Riksbank ahead of its February meeting, and with the recent announcement by the ECB likely to increase further inflows to the krona. Analysts at TD Securities suggest, “we expect to see the rate cut come at the February meeting, as in December it said that it was was preparing further measures that “could be presented with effect from the next monetary policy meeting”. EUR/SEK levels to consider The pair is up 0.05% at 9.3498 with the next resistance at 9.4735 (high Jan.19) ahead of 9.4855 (high Jan.16) and then 9.6012 (high Jan.15). On the downside, a break below 9.3015 (low Jan.23) would target 9.2914 (100-d MA) en route to 9.2410 (low Dec.1). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 26,2015 OctaFX.Com News Updates Data ahead: Eurozone CPI expected to fall – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team previews the Eurozone CPI data to be released later this week, anticipating it to register a negative print at -0.5%. Key Quotes “The January flash CPI report will give a taste of the challenge of the ECB's efforts to put prices back on track to reach its target of near, but below 2% on the headline rate. By simply deciding that its target is really the core rate, some pressure would be alleviated. Egos and inertia, more than economic rationality, lies behind the reluctance. Deflation is likely to have intensified.” “January CPI is expected to have fallen to -0.5% from -0.2% in December. The core rate is expected to be unchanged at 0.7%; low but not deflation. The ECB model projects its asset purchases will push CPI up by 0.4% this year and 0.3% next.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 24,2015 OctaFX.Com News Updates SEB: EUR/GBP sees some support at the long-term trendline – eFXnews FXStreet (Barcelona) - The eFXnews Team shares SEB’s intraday outlook for the EUR/GBP pair, noting that the pair stands supported by the long-term descending trendline. Key Quotes “A descending 2010-2012 trendline ought to inspire some profit-taking when conditions are so short-term stretches as they currently are. But the bounce may become both short & shallow with daily and weekly mid-body points at 0.7525/55 providing presumed resistance.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 26,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 26, 2015 Author Share Posted January 26, 2015 EUR might see heightened volatility when Greek negotiations start – MP FXStreet (Barcelona) - Dean Popplewell, Director of Currency Analysis at MarketPulse, comments that at the moment markets should be pricing a fair value EUR QE vs. an expected high margin win for Syriza, and that the high volatility for the single currency will arrive at a later stage when the external negotiations begin for Greece. Key Quotes “The markets initial reaction was to further penalize the EUR, pushing it briefly to a new 11-year low (€1.098) in Asia as the Greeks radical leftist vowed to tear up term’s of the country’s bailout. However, the EUR weakness has been short lived, with the single unit riding higher outright (€1.1246) and against the yen during European trading (€133.00).” “The market seems a tad more confident that last week’s QE support by the ECB leaves the markets less vulnerable to break up fears. Many are viewing Draghi’s backstops have “effectively firewalled Greek developments and should limit contagion’.” “In translation, investors will have to gage the EUR’s natural price weakness that is supported by QE and not by euro-zone periphery fears.” “Many will interpret the larger than expected victory by Syriza could be leaving the EUR vulnerable for further short selling in the short term. The fact that the single unit is down 14-big figures since December, with little or no retracement, consolidation and some profit taking could be a risk factor to some of the weaker EUR short positions.” “The Greek results gives Tsipras a strong mandate to push through major national changes, however, the external negotiations will be more of a market risk factor, and are sure to heighten volatility over the coming months. But, that is a “tomorrow” problem; for now the market should be pricing fair value EUR QE vs. an expected Greek result with a wider margin win.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 26,2015 OctaFX.Com News Updates Foreign investors sell Japanese bonds for the fourth consecutive week – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team shares last week’s MOF data, noting that foreign investors sold Japanese bonds for the fourth consecutive week, and also trimmed holdings in Japanese shares. Key Quotes “Last week's MOF data showed Japanese investors bought a record amount of foreign shares. There was a spike up in JGB bond yields. The combination of the two may reflect the ongoing diversification of Japanese pension funds and the reform of GPIF.” “For their part, foreign investors have sold Japanese bonds for four consecutive weeks, a streak not seen in a year. Foreign investors have also pared their holdings of Japanese shares for the fourth week in the past five.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 26,2015 OctaFX.Com News Updates EUR/USD bounce may hinge on Fed – TDS FXStreet (Barcelona) - According to Shaun Osborne, Chief FX Strategist, at TD Securities, looking at the one sided positioning and the recent drop in lower, the EUR/USD pair risks an upside bounce in the short run, which may hinge on the FOMC meeting this week. Key Quotes “We remain bearish on the outlook for the EUR overall but we remain cognizant of the risk that positioning (IMM data released at the end of last week highlight just how one-sided—even before the bulk of the latest drop—the market has become positioned), plus the scale of the move lower in spot over the past three months or so might limit scope for an immediate or significant extension of last week’s slide.” “Indeed, these issues could actually point to the risk of a trading bounce in the single currency in the short run. That may hinge on the FOMC meeting this week; if the Fed stays on positive message, and ignores the USD—which we think it can—EURUSD is likely to remain heavy.” “US Treasury Sec. Lew, who is entitled to have a beef with the USD if he feels like it, suggested that USD strength was fundamentally justified when speaking in Davos Friday. No push back there. But a cautious-sounding Fed could check the USD’s advance and prompt a modest bounce in the EUR potentially.” “From a technical point of view, that fact that the EUR has steadied around major, long-term support (1.1214 is the 61.8% retracement support of the 0.83/1.60 rally) warrants attention. Holding this level last week gives some legitimacy to the idea that the EUR sell off may stop or reverse, if only briefly; a weekly close below opens the door to par.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 26,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 27, 2015 Author Share Posted January 27, 2015 GBP/USD rises further after US durable goods orders FXStreet (Córdoba) - GBP/USD shrugged off below-expectations UK GDP data and pushed above 1.5100 toward fresh daily highs following negative durable goods orders figures. Cable managed to climb back above 1.5100 and stretched to a fresh daily peak of 1.5165, its highest level since Friday, as the dollar continues to weaken across the board and remains as one of the worst performers of the day. US durable goods orders fell 3.4% in December versus an increase of 0.4% expected, while excluding transportation orders dropped 0.8% against a 0.6% rise of consensus. Next on tap, US data includes, consumer confidence, new home sales and Markit services PMI. At time of writing, GBP/USD is trading at 1.5160, recording a 0.54% gain on Tuesday, with immediate resistances seen at 1.5185 (20-day SMA) and 1.5200 (psychological level). On the other hand, supports could be found at 1.5058 (daily low) and 1.5033 (Jan 8 low) ahead of 1.5000 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 27,2015 OctaFX.Com News Updates Fed’s forward guidance unlikely to change – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team previews the FOMC meeting, expecting Fed’s forward guidance in terms of “patience” to remain intact. Key Quotes ““The Federal Reserve’s two-day meeting concludes Wednesday. To the extent the FOMC meeting is ever routine, this should be it. Its forward guidance evolved at the end of last year. The “considerable time” between the end of the asset purchase program (which it never called quantitative easing) and the first hike has been replaced with “patience”.” “At Yellen’s first press conference last year, she abandoned the Fed’s purposeful strategic ambiguity, and suggested “considerable time” was around six months. She again yielded to temptation in December to define “patience” as a couple of meetings.” “The January meeting is covered by that forward guidance. It is unlikely to change. The next meeting in March is a different story. If the Fed wants to prepare the market for a potential rate hike in the middle of the year, the March meeting, which will see updated macro-economic forecasts and a press conference, is more important. Patience at the March meeting would seem to preclude a June hike.” “The decline in yields at the short-end of the curve, including the Fed funds and Eurodollar futures, suggest that the consensus expectations for a June hike may be fraying.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 27,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 29, 2015 Author Share Posted January 29, 2015 NZD/USD to move towards 0.68 in the longer term – Rabobank FXStreet (Barcelona) - According to Jane Foley, Senior Currency Strategist at Rabobank, the RBNZ may be required to extend its dovish tone to maintain the pressure on NZD, further expecting NZD/USD to move towards 0.68 and AUD/USD to see 0.70 levels in the longer term. Key Quotes “In our view the risks to growth justify the more dovish tone of the RBA. However, with RBNZ rates at 3.5% the carry trade still has the ability to thwart a broad based decline in the value of the NZD and the RBNZ may have to extent its dovish tone further if it wants to keep the currency under pressure.“ “Earlier this month the AUD/NZD hit a new low in the 1.0355 area sparking a round of talk that the exchange rate was heading to parity.” “Speculation that the RBA could be cutting rates again in the coming weeks heightens the risk that the RBNZ could also be forced to cut rates and so protect New Zealand’s competitive position in the region.” “In view of the change in the RBNZ tone last night and the Fed’s apparent lack of concern about the value of the USD, we have extended our bearish NZD/USD view and look for a move towards 0.68 on a 12 mth view.” “We have also extended our bearish AUD/USD forecast to 0.70 on a 12 mth view.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29,2015 OctaFX.Com News Updates NZD/USD to move towards 0.68 in the longer term – Rabobank FXStreet (Barcelona) - According to Jane Foley, Senior Currency Strategist at Rabobank, the RBNZ may be required to extend its dovish tone to maintain the pressure on NZD, further expecting NZD/USD to move towards 0.68 and AUD/USD to see 0.70 levels in the longer term. Key Quotes “In our view the risks to growth justify the more dovish tone of the RBA. However, with RBNZ rates at 3.5% the carry trade still has the ability to thwart a broad based decline in the value of the NZD and the RBNZ may have to extent its dovish tone further if it wants to keep the currency under pressure.“ “Earlier this month the AUD/NZD hit a new low in the 1.0355 area sparking a round of talk that the exchange rate was heading to parity.” “Speculation that the RBA could be cutting rates again in the coming weeks heightens the risk that the RBNZ could also be forced to cut rates and so protect New Zealand’s competitive position in the region.” “In view of the change in the RBNZ tone last night and the Fed’s apparent lack of concern about the value of the USD, we have extended our bearish NZD/USD view and look for a move towards 0.68 on a 12 mth view.” “We have also extended our bearish AUD/USD forecast to 0.70 on a 12 mth view.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 30, 2015 Author Share Posted January 30, 2015 USD/CAD jumps to 1.2800 FXStreet (Edinburgh) - The Canadian dollar accelerates its decline vs. its neighbor on Friday, once again pushing USD/CAD to fresh multi-year highs around 1.2800. USD/CAD in March 2009 levels The pair continues to push higher, this time via further CAD weakness after the Canadian economy contracted 0.2% during November vs. a forecasted flat reading. Data in the US economy showed the GDP grew 2.6% during Q4 2014, missing prior surveys for a 3.6% advance; Employment Cost Index gained 0.6%, matching estimates and down from 0.7% previous. Next on tap will be the Chicago PMI and the Reuters/Michigan index. USD/CAD significant levels At the moment the pair is advancing 1.29% at 1.2776 with the initial barrier at 1.2900 (psychological level). On the downside, a breach of 1.2608 (low Jan.30) would aim for 1.2512 (low Jan.29) and finally 1.2390 (low Jan.28). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30,2015 OctaFX.Com News Updates Gold struggles to extend gains FXStreet (Mumbai) - Gold prices struggled to extend gains despite of a weaker-than-expected preliminary US Q4 GDP data released now. Resilient USD The yellow metal has not been able to extend gains despite weak US GDP as the US dollar failed to weaken. In fact the USD Index is back above 95.00 levels. Most of the major currencies continue to stay weak against the USD except the Japanese Yen. Hence, the yellow metal could not extend gains as the strong USD continued to weigh on prices. The metal did clock a high of USD 1266.66, although the gains could not be sustained. Gold Technical Levels The metal currently trades largely unchanged post the data at USD 1263.10/Oz; up 0.575 for the day. The immediate resistance is seen at 1265.8, above which gains could be extended to 1272.08 (hourly 50-SMA). On the flip side, the support is seen at 1261.6 and 1256 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30,2015 OctaFX.Com News Updates Gold struggles to extend gains FXStreet (Mumbai) - Gold prices struggled to extend gains despite of a weaker-than-expected preliminary US Q4 GDP data released now. Resilient USD The yellow metal has not been able to extend gains despite weak US GDP as the US dollar failed to weaken. In fact the USD Index is back above 95.00 levels. Most of the major currencies continue to stay weak against the USD except the Japanese Yen. Hence, the yellow metal could not extend gains as the strong USD continued to weigh on prices. The metal did clock a high of USD 1266.66, although the gains could not be sustained. Gold Technical Levels The metal currently trades largely unchanged post the data at USD 1263.10/Oz; up 0.575 for the day. The immediate resistance is seen at 1265.8, above which gains could be extended to 1272.08 (hourly 50-SMA). On the flip side, the support is seen at 1261.6 and 1256 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 30, 2015 Author Share Posted January 30, 2015 EUR/USD shows no reaction after US data – FXStreet FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares the technical outlook for EUR/USD, with the pair showing no major reaction post the US and EZ releases. Key Quotes “The EUR/USD pair can’t find a way this Friday, trading around its daily opening and despite key macroeconomic data has been released for both economies.” “Earlier on the day, EZ inflation turned out negative, a confirmation of the ongoing deflation in the area. In the US, GDP figures showed the economy expanded at a slower pace than forecasted in the QE, printing 2.6% against an expected 3.3% grow.” “The EUR/USD however, continues to trade in the lows 1.13’ with the 1 hour chart showing price moving back and forth around 20 and 100 SMAs, both flat in a 10 pip range, while indicators hold in neutral territory.” “In the 4 hours chart indicators turn slightly lower but also around their midlines, lacking directional strength at the time being.” “Selling interest has surged again earlier on the day near the 50% retracement of the latest bearish run at 1.1365, becoming the critical resistance to break to confirm an upward extension.” “The main support on the other hand, stands at 1.1250 a static support as per several intraday lows posted around it during these last few days.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 30, 2015 Author Share Posted January 30, 2015 Canadian dollar and cross in a technical snapshot - TDS FXStreet (Guatemala) - Analysts at TD Securities gave a snapshot technical analyses in the Canadian dollar. Key Quotes: "USD/CAD> drops back from early highs but we look for firm support on dips to the upper 1.26s area." "EUR/CAD tests a major resistance zone around 1.45; we continue to favour range trading here." "AUD/CAD chops around resistance in the low 0.99 area." "GBP/CAD reaches our s/t bull target – higher levels are still on the cards." "CAD/JPY extends below support in the high 92s – look for more weakness towards 90.50. " OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
Jordan Sands Posted February 1, 2015 Share Posted February 1, 2015 It’s so good to have a system that does the work for you as mostly we get in trouble with no time yet wish to work and that leads to just total mess and bad results. I have tried almost all the possible system, signal service and lastly paid analysis but all with losses and empty hands. Finally I am glad that I started with using this OctaFX broker’s service of analysis. Actually first time I got attention here because of been free but when a broker provides such quality analysis to all for free just imagine how great the facilities would be if I trade with them and that’s exactly what I did and I am proud of my decision! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 3, 2015 Author Share Posted February 3, 2015 WTI set to surge further – BAML FXStreet (Barcelona) - The Research Team at Bank of America-Merrill Lynch, expects WTI Crude’s gains to continue towards $54.33 levels. Key Quotes “Evidence suggests that Friday's surge higher in WTI has further to run. The recent surge in Open Interest, rising approximately 134k contracts since Jan-16, indicates vulnerable short positions (open interest rises when the seller is a new short and the buyer is a new long) which are now at risk of being covered.” “With the break of 2m trend line resistance (and weekly hold of 16yr trend line support) gains should continue in the sessions ahead towards the Dec-16 low at 54.33 before renewed stalling.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 03,2015 OctaFX.Com News Updates GBP/USD posts highs around 1.5080 FXStreet (Edinburgh) - The pound continues to trade on a positive mood on Tuesday, now pushing GBP/USD to test intraday highs in the 1.5080 neighbourhood. GBP/USD boosted by risk, data Spot keeps extending its bounce off session troughs in sub-1.5000 levels, reclaiming the 1.5070/80 zone and challenging weekly highs at the same time. The auspicious result from the UK Construction PMI during January is collaborating with the upside as well, all against the backdrop of favouring context for the risk-associated universe. Next of relevance for GBP traders will be the Services PMI due tomorrow (56.3 exp.) followed by the BoE MPC meeting to be held on Thursday. GBP/USD key levels The pair is now gaining 0.35% at 1.5076 and a breakout of 1.5100 (psychological level) would aim for 1.5115 (21-d MA) and then 1.5161 (high Jan.29). On the downside, the initial support lies at 1.4972 (low Jan.26) ahead of 1.4952 (low Jan.23) and finally 1.4900 (psychological handle). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 03,2015 OctaFX.Com News Updates SEB: USD/JPY hanging bearishly below resistance – eFXnews FXStreet (Barcelona) - The eFXnews Team shares SEB’s technical outlook for USD/JPY. Key Quotes “The market likes it better below than above dynamic resistance coming with the (Fibo-adjusted) 21day 'Kijun-Sen' and this threatens the low end of the 55day exponentially weighted moving average band (116.64)." “Further down low points at 115.85 & 115.57 are of interest.” “A loss of support at those should lower sights to the lower end of the Fibo-adjusted 'Cloud', now at 114.30.” “A move back over 118.87 is needed to defuse downside risks.” 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 Feb 03,2015 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
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