User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday November 5, 2013 - 04:01:30 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 05-Nov-2013 -0359 GMT


Equities are overall up.

Dow (15639.12, +0.15%) rose a bit yesterday but may lose steam below Resistances at 15700-800 and 16000 from where it may again fall back towards 15400. A very bullish upside break may be difficult. Nasdaq (3936.59, +0.37%) is maintaining its gains, though, and may target 4000 in the near term.

Dax (9037.23, +0.33%) rose as investors await the Central Bank’s monetary decision this week. While in an uptrend, it faces resistance at current levels.

Asia-Pac is down. Nikkei (14192.10, -0.07%) has fallen and may test support at 14000 which may help it to rise back to 14800. It is moving in an overall uptrend. Shanghai (2133.49, -0.75%) is looking weak may test support at 2100.

Nifty (6317.35) is in an overall uptrend and is targeting mid term resistance near 6400. If this holds we may see a fall towards 6100 and further to 5900.

Gold (1316.20, +0.11%) has seen a little correction after the recent fall. It is now testing the 21-day and 100-day MA resistance just above the current levels. With further Resistance near 1350 on the daily, Gold could be vulnerable to a dip towards 1270. Silver (21.71, -0.07%) has fallen and could test support near 21 in the near term.

Copper (3.2630) has bounced from trend support near 3.25. That said, it is in an overall sideways movement and may continue to range between 3.25-3.35.

Brent (106.32) has corrected a bit and may consolidate sideways this week while trying to rise up steadily towards 108. Support should be seen near 104. Nymex WTI (94.670) continues its recent downtrend that may now target 92-91.

Euro (1.3507) achieved all our targets and bounced exactly from the support zone of 1.3450/70. It made a low at 1.3442 and bounced to 1.3524. We had recommended partial covering of shorts in the zone of 1.3450/70. As long as 1.3440 is held, any dip now could be bought and it can reach 1.3560/80. Support is at 1.3470.

Dollar Index (80.56) was rejected from exactly the resistance area of 80.75-80.95 mentioned repeatedly last week. We repeat, no major reversal signal would be confirmed as long as it stays below 81. Till 80.93 holds, we can expect all rallies to be sold into and a fall to 80.20/30.

Pound (1.5975) moved exactly in line with our expectations and dropped to 1.5903 before bouncing from there. As long as this low is not broken, we can expect buying at the lower levels and a move towards 1.6060/70 remains a possibility. Support is at 1.5940 and resistance is in 1.60-1.6010.

Dollar Yen (98.26) has been rejected from 98.85, very close to the strong resistance area around 99 which we have mentioning for the last few days. The price contraction is still going on. It has a support at 98, but the bigger moves would only be possible on a breakout from the range of 96.90-99.

EURJPY (132.74) is in a confirmed downtrend now. It bounced from 1.3260, close to our support zone of 1.3240 and bounced to 133.40, near our resistance of 133.65. As expected, the bounce was sold into. Another bounce can come if the low of 1.3240 is not broken. On the other hand, a break of 1.3240/60 could take it to 131.10.

Aussie (0.9502) broke the temporary Double Bottom at 0.9440 and made a low at 0.9422, but the corrective rally came as expected. It has achieved the minimum target of 0.9520 and further rally will come only if it can sustain above 0.9526.

USDINR (61.74) remains in the range of 61-62. Even an appreciating Dollar has not been able to take it beyond this range as the rise in equities pulls it down. Even a breakout from this range will not guarantee any major move as the volatility cycle has topped out and it has entered a low volatility phase. We will keep an eye on 62.30 on the upside and 60.60 on the downside if the range expansion takes place.


The US 10Yr (2.60%) has moved up over the last few days even as there is talk that a Taper might be delayed longer than previously anticipated. We see chances of a rise to 2.75% in the near term, followed by a downmove towards 2.50% again. A rise past 2.75% (not anticipated) would be a game changer.

The German-US 2Yr Spread (-0.20%) has come down to a critical Support near current levels. A bounce would give relief to the Euro (1.3508), while a failure to bounce could push the Spread down towards -0.28%, pulling the Euro down with it. Last week has seen the German-US 10Yr Spread (-0.90%) has fallen sharply through last week, having found good support-turned-Resistance near -0.65% on a long-term chart. Please see the last chart on the following page:

Dollar-Yen (98.29) has risen alongwith the rise in the US-Japan 10Yr spread (2.0%) from 1.90% earlier. Some Resistance is seen near current levels on the Spread, which could keep Dollar-Yen subdued a bit.

The Mibor (3mth 9.10%) can stabilise below 9.50% in the near term now. The Mifor (3 mth 8.71%) may also stabilise near current levels. In China, Money market rates have come down over the last three days on hopes of increase in liquidity.

3:30 GMT or 9:00 IST RBA Meeting
...Expected 2.50 % ...Previous 2.50 %

No major data release yesterday.


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."

Actionable trading levels delivered to YOUR charts in real-time.

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 15 Oct 2018
AA 12:30 US- Retail Sales
Tue 16 Oct 2018
AA 08:30 GB- Employment
A 09:00 DE- ZEW Survey
A 13:15 US- Industrial Production
Wed 17 Oct 2018
AA 08:30 GB- CPI
A 09:00 EZ- Final HICP
A 12:30 US- Housing Starts/Permits
A 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
AA 18:00 US- Fed Policy Minutes
Thu 18 Oct 2018
A 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 12:30 US- Weekly Jobless
Fri 19 OCt 2018
AA 12:30 CA- CPI/ Retail Sales

John M. Bland, MBA
co-founding Partner,

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Request a TRIAL of Max's Forex Service.


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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

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