|Day's range||1.174 - 1.18|
|52-week range||1.0348 - 1.2093|
EUR/USD With a month-old downward slanting trend-line again restricting the EURUSD’s upside, the pair is likely to re-test 1.1745 and the 1.1715-10 supports. Though, the 1.1685-80 horizontal-region might confine its following downside, if not then the pair could plunge in a direction to 1.1660 and then to the 61.8% FE level of 1.1620. On the … Continue reading Technical Update For EUR/USD, GBP/USD, USD/JPY & AUD/USD: 17.10.2017
Sellers continued to dominate the EUR/USD on Tuesday, driving the Forex pair into its lowest level since October 10. Rising U.S. Treasury yields helped make the U.S. Dollar a more attractive investment. Meanwhile, Ten-year bond yields in Germany hit a one-month low, extending moves seen late last week on reports. German Bund yields fell because … Continue reading EUR/USD Mid-Session Technical Analysis for October 17, 2017
You’re watching the Main Daily Trading Signals for Tuesday. Here’s how technicals compare with interbank at 8 AM GMT. Euro/Dollar sees a mix of green and neutral models on its hourly chart. The mid-term scale sees 6 sell prompts, and the daily outlook turns neutral with 6 studies, matching the less than 15% long interbank. … Continue reading Forex Trading Signals – October 17, 2017
On Monday, Iraqi forces moved to take control of the city of Kirkuk that had been under control of a Kurdish faction since 2014 and had recently voted for independence in a referendum with Baghdad objections. Kirkuk is home to over 10% of Iraq’s oil reserves and the “takeover” brought concerns to the markets regarding … Continue reading Iraqi Tensions Impact Oil Prices, UK Inflation at Highest Since 2012
EUR/USD The pair was extremely volatile during the Monday’s trade session, initially gapping lower but found enough support near the 1.1780 level to bounce and break above the 1.18 level again. The volatility was largely due to a lot of noise going on the market and more importantly due to the election of a populist … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – October 17, 2017
The prospect of a December rate hike in the US will no doubt leave Forex traders on edge in the next few weeks. The US markets, however, seem unfazed by the looming December rate rise. They are still making their usual new record highs every week, especially after last Wednesday’s release of the Fed minutes … Continue reading Potential Implications of a US December Interest Rate Hike on Global Markets
Political Drama Grips the Euro The big news yesterday was Catalonia or, more accurately, Catalan President Charles Puigdemont’s response to Madrid’s independence deadline. Puigdemont’s inability to officially state whether his administration had declared independence from Spain saw the euro start the trading week under pressure, as the political drama prompted investors to shun the currency. … Continue reading Drama in Europe Overshadows Euro, Gold in Focus
This is the Support and Resistance Level Report for Tuesday. Here’s how our in-house model tests out. Euro/Dollar has had a bearish start of the week, now trading between R1 of 1 1780 and S1 of 1 1750. Standing near a 20 day moving average, R2 sees 9 confirmations, and the lowest resistance line has … Continue reading Tuesday Support and Resistance Levels – October 17, 2017
Bank of England Governor Mark Carney will be speaking today and volatility is a certainty for the Pound as the BoE leader shares his insights. The Euro has lost value the past two trading sessions and may find speculators tempted to buy if they believe it has been oversold. GBP/USD: Moment of Truth Today The … Continue reading Daily Market Forecast, October 17, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD
The EUR/USD pair had a choppy session, initially gapping lower but found enough support near the 1.1780 level to bounce and break above the 1.18 handle again. Part of the negativity may be due to the populist prime minister that has been elected in Austria, but quite frankly I think that is more noise than … Continue reading EUR/USD Price Forecast October 17, 2017, Technical Analysis
The EURUSD pair weakened during the course of trading yesterday after looking as though it might move higher on the back of weak data from the US on Friday. The retail sales came in strong and the CPI came in weaker than expected and this had led the EURUSD pair to challenge its range highs … Continue reading EUR/USD Daily Fundamental Forecast – October 17, 2017
Euro/Dollar has had a slow session – volatility is 38 pips and traded volume is extremely low. The sentiment of the traders is neutral, short positions are up by 5%. Both the narrow price movement range and the passive trading are limiting factors. Pound/Dollar has also traded in a narrow range, but this pair sees … Continue reading Midday Forex Snapshot – October 16, 2017
The EUR/USD is trading slightly lower at the mid-session. Today’s lower-low price action has helped make a new main top. This doesn’t mean the trend has changed to down, but that the selling may be strong enough to trigger a further extension into a key retracement zone before attracting the next round of buyers. Daily … Continue reading EUR/USD Mid-Session Technical Analysis for October 16, 2017
Euro zone investors who have snapped up over a trillion euros worth of foreign debt without protecting the foreign exchange risk are rethinking that vulnerability because of the currency's hefty rally this year. The move entails buying euros to hedge, which turbo charges the rally even further - creating a headwind for the European Central Bank. The ECB is widely expected to start laying out its plans for scaling back monetary stimulus at next week's policy meeting, but a strong euro complicates this since it puts downward pressure on inflation which is already running below target.
Good morning, traders, the team is here with Monday’s Main Daily Trading Signals. Euro/Dollar sees 4 and 6 bearish models on its 1 and 4-hour charts, respectively. The 24-hour scale turns neutral with 5 models, in line with the less than 15% long interbank. The Cable has neutral models prevailing in the short-term. The mid-term … Continue reading Forex Trading Signals – October 16, 2017
EUR/USD The pair was extremely volatile during the Friday’s session, initially drifting lower but shot higher later in the day towards the 1.19 level after the weak set of CPI data from the US hit the market. The break above 1.19 level will send this market higher towards the 1.20 level and above. Currently, the … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – October 16, 2017
Euro zone's trade surplus shrank in August as the stronger euro fuelled an import boom that was only partly offset by a rise in exports, official estimates released on Monday showed. Although the euro has depreciated against the dollar from a 2017 peak in early September, it is still up more than 12 percent this year. Cheaper imports have complicated European Central Bank's plans to raise inflation in the euro zone.
Over the past few months, the US Dollar (USD) has been exhibiting a change in character from its previous tone throughout the first half of 2017. In particular, the bearish downtrend that was in place through September 2017 may be at a turning point based upon recent price action coupled with underlying technical strength. Near-term … Continue reading Is the US Dollar Set to Rally?
It’s a new trading week, and the team is back with another Support and Resistance Report. Euro/Dollar has the closest levels of 1 1820 in resistance and 1 1780 in support. R1 is a 20 day moving average with 7 studies, and R2 is a 50 day moving average with 5 models. R3 is confirmed … Continue reading Monday Support and Resistance Levels – October 16, 2017
The Pound is certain to be a focal point in forex this week, as BoE Governor Mark Carney speaks tomorrow to the British Treasury. Gold remains near important resistance and Crude Oil has had geopolitical concerns emerge as the Kurdish independence question has sparked worries about oil production. GBP/USD: Carney Address Shadowing Pound The Pound … Continue reading Daily Market Forecast, October 16, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD
The U.S. Dollar was under pressure against a basket of currencies from the start last week as investors reacted to a number of factors. The week started with the dollar hovering near a ten week high, supported by strong U.S. wages data from the week before which gave investors confidence that the Federal Reserve will … Continue reading Dollar Investors Worried about North Korea, Tax Reform and Low Inflation
The EURUSD pair has weakened since Friday which is a bit of a surprise considering the fact that the data from the US continues to be choppy and mixed and there does not seem to be any trend as far as the incoming data is concerned. With the lack of trend, it would seem that … Continue reading EUR/USD Daily Fundamental Forecast – Oct 16, 2017
The US Dollar closed the previous weak lower on a weaker than expected consumer inflation report on Friday and the released minutes of the Fed on Wednesday. Currently, investors had priced in a roughly 83 percent probability of a rate increase in December. In the week ahead, investors will closely watch: China CPI on Monday at 2:30 GMT RBA Minutes … Continue reading Weekly Forex Technical Analysis, Oct 16 – Oct 20, 2017
A euro zone budget of several hundred billion euros is an ambitious idea, the head of euro zone finance ministers said on Saturday, suggesting loans from the bailout fund and transfers from the existing European Union budget could be more feasible. "Creating a whole new budget, inside or outside the European Union budget, of many hundred billion, is courageous," Jeroen Dijsselbloem told Reuters on the sidelines of the International Monetary Fund's meetings in Washington. Euro zone governments are debating how to integrate further the 19 members of the 28-nation European Union that share the single currency to prevent a repeat of the sovereign debt crisis and reap greater benefits from the euro.
After seemingly bottoming out over the previous week, the EURUSD pair made some decent progress over the last week as the pair ended the week over 1.18 and looks solid and steady and primed to make more progress in the coming week. The dollar seems to be a bit lost and though it has not … Continue reading EUR/USD Fundamental Analysis – week of October 16, 2017