User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday August 22, 2013 - 03:34:54 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 22-Aug-2013 -0333 GMT

GOOD MORNING!


EQUITIES
Equities are not so very bearish after the FOMC Minutes.

The Dow (14897.55, -0.70%) has broken the crucial support at 15000 as FOMC Minutes broadly support tapering of the economic stimulus. There could be some support near current levels. We would not suggest selling unless this breaks on a Week Close basis tomorrow.

Nikkei (13436.79, +0.09%) is up a bit as Yen resumes its slide against the dollar. But chances of a fall towards 13200 still remain. Shanghai (2076.08, +0.15%) is also up and has moved above 2075 now. It needs to continue rising to avoid a fall to 2050 and move up towards 2100.

Nifty (5302.55) fell sharply after registering a low of 5268.45 yesterday as the Rupee hit an all time low. The bear target of 5250 has almost been met. There is an outside chance of a bounce today, which might be worth looking at.

 

COMMODITIES
Commodity market slumps overall as the FED supports tapering.

Gold (1362.30) has fallen on rise of Dollar index. Strong trend Resistance coming in at 1375-80 now. Silver (22.85) has fallen. It may consolidate a bit lower for now before rising again towards 24.

Copper (3.3360) has risen a bit, but seems to be consolidating sideways for now before deciding to rise higher towards 3.40.

Nymex WTI (103.79) has fallen sharply. Watch Support at 103.50 now. Should that break, we would see a fall towards 99. Watch this onw. Brent(109.53) is held down well by the Resistance at 111. Indecisive whether it wants to break above 111 to test 114 or break below 108. Anyway, long-term Resistance at 114 should be strong.


CURRENCIES
Strong recovery in the Dollar Index (81.37) from the low of 80.75. The Euro (1.3335) and Pound (1.5593) have both come off sharply after the FOMC Minutes yesterday. The Yen (98.20) too has weakened again and is close to testing the crucial Resistance at 98.40. The Dollar has gained as the US 10-Yr (2.92%) has risen sharply again and can test 3.05% within the end of this month.

We see limited room on the upside for the Pound, with Resistance available from current levels up to 1.5770. The outlook on the Euro is not so clear while it trades between 1.33-34. Should Dollar-Yen manage to break above 98.40, it may try to test 100 in the coming weeks. But, certainty levels are not too high at the moment.

The Aussie (0.8973) has fallen to 0.8960 as anticipated. It may stabilise/ bounce back a bit in the near term now.

All the R-currencies saw big falls yesterday. Some more weakness is possible near term. But, we could see profit-taking at higher levels once the US 10-Yr touches 3.05% in a few days. The Rand (10.40) has super-crucial long-term Resistance at 10.50.

While a test of 65 is a possibility for Dollar-Rupee (64.10) in the all-round Dollar strength, we think it is hugely Overbought and the Rupee is possibly undervalued now.


INTEREST RATES
The US 10-Yr (2.92%) is headed up to 3.05%. That's a given. It should come off from there. We don't know what the trigger will be, but by 3.05%, the September tapering will be fully factored in. The 30-Yr (3.93%) also faces a 19-year trendline Resistance near 4.25-30%. So, there is limited room on the upside now.

The 10-Yr (-1.08%) and 2-Yr (-0.17%) German-US Spreads have both fallen sharply yesterday, leading to the fall in the Euro. The US-Japan 10-Yr (2.18%) continues to rise after breaking above 1.88% a few days ago.

The Indian GOI (8.46%) came off sharply yesterday. The Indo-US 10-Yr Spread (5.54%) could stabilise/ reduce a bit now.


DATA TODAY
No major data release today.

DATA YESTERDAY

US Existing Home Sales (Mln)
...Actual 5.39 M ...Previous 5.06 M


FOMC Meeting Minutes


 

 

Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 21 November 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:


Tue 21 Nov
15:00 US- Existing Homes Sales
23:00 US- Yellen Speech
Wed 22 Nov
13:30 US- Weekly Jobless
13:30 US- Durable Goods
15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
19:00 US- FOMC Minutes
Thu 23 Nov
US/JP- Holiday
All Day flash PMIs
13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias


  • POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic

  • POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy


  • POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
  • POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
  • POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
  • POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release


John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog

Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105