User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday January 9, 2014 - 03:52:13 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 09-Jan-2014 -0345 GMT


Dow (16462.74, -0.41%) remains in a shallow sideways corrective mode between 16400 and 16600. It was mentioned that any fall till 16100-200 may be just a normal correction. The trend remains up but we have been keeping an eye on the broader band of 16800-17600 as a lot of projections converge there. Initial sign of weakness will come only below 16100.

Dax (9497.84, -0.09%) has bounced but it still looks like a correction of the earlier fall only as it is making a Bear Flag. It has reached close to the resistance zone of 9520-25 and the bulls must cross and sustain above this. Strength will be confirmed only above 9570 only. Till then, the targets of 9100-9150 remain open.

Nikkei (15929.64, -1.19%) has reached the initial resistance zone of 16000-16015 and only a sustained move above it can take it to the next major resistance cluster of 16050-16120. There is a fair chance that the bounce may get finished at any of these levels and the fall can resume in a day or two.

Shanghai (2052.12, +0.38%) got resisted at 2063 yesterday, very close to our resistance zone of 2068. Earlier, it had bounced from our target support zone of 2030 and provided a bit more conviction to our speculation that there is a fair chance that the broader range of 2030-2250 may continue for a few months more. The immediate resistance is 2068 but unless 2165-75 is taken out, the bears will continue to dominate on every rally. Breaking and sustaining below 2030 will bring much larger fall.

Nifty (6174.60, +0.20) failed to cross above 6200 after a feeble bounce, nothing different actually. We reiterate, the most important thing to remember is that the trend remains down even after the third day of pause. 6130-50 remains the support to watch and 6225-30 the resistance.

Gold (1226.465) is trading lower after bouncing from just above the13-day MA yesterday while the resistance near 1245 still holds. Bearishness is still on the cards but if the support at 1225 holds, it could take it higher, back to 1250.

Silver (19.602) is also trading lower after testing resistance near 19.71 and is at a crucial juncture now. Immediate support coming up near 19.5-19.which if holds may take it to 20-20.5.

Copper (3.3500) remains stable for now and may continue so for the next few sessions moving steadily towards support near 3.30-3.31.Overall it is in a near term downtrend.

Brent (107.45) is stable for now after a fluctuation yesterday between 107 and 108 levels. Minor moves in the 106.8-108 region is still expected. Currently testing support at current levels on the line charts, a break above 108 could take it to 110. However we cannot negate a fall below 107-106.5 just now. Need to wait and watch.

Nymex WTI (92.66) traded lower after a bigger than expected gains in gasoline and distillate supplies in US was shown in a government report.
Falling below the support at 93, if it does not see a correction by the next 2-3 sessions we could see a fall towards 90. Strong bears still dominating, we need to keep an eye on this.

Dollar Index (81.09) is trading firmly above 81, the resistance we were watching for a confirmation for a rally towards 81.50. Right now, a fall below 80.85 would drag it down to 80.55 once more. Immediate resistance comes at 80.30.

Euro (1.3574) has dropped from the major supply zone of 1.3660-90 in line with our expectation. The bearish momentum will return again below 1.3550-70 and the price is testing that right now. Any rally may face selling pressure. Only a rally to 1.3730 may mitigate the immediate weakness.

Dollar-Yen (104.94) has held above 104 so far and it was mentioned repeatedly that the bullish momentum remains fully strong above 104 and the next target of 109 remains open. Any sign of weakness will be seen only below 103.50 and 102.50. Immediate resistances are at 105 and 105.40 levels.

The Euro-Yen Cross (142.42) has dropped sharply exactly from the strong supply zone of 143.30-70 mentioned yesterday. It was noted that, the selling pressure may return any moment as long as this zone was not convincingly broken above. Interestingly, it is making a Bear Flag too just like Dax. Bearish momentum will return below 142 and 141.50.

The Pound (1.6455) saw good buying pressure once again near the area of 1.63 and bounced. As long as it stays above 1.62-1.63, more rallies may emerge towards 1.6740-50. Before that, it has to cross above the resistances of 1.6450-80, failing which the possibility of more falls canít be discarded. It is struggling with this resistance just now.

The Aussie (0.8882) has made yet another Bear Flag. It has been testing the resistance area of 0.90 repeatedly but failing to sustain above it so far. Earlier too, it was rejected from our resistance area around 0.8975-0.90 which it must cross and sustain above to trigger any hope for a possible move towards 0.91-0.92. Till then the downside remains open towards 0.87-0.8750. Bearish momentum will return below 0.8820-30.

Dollar Rupee (62.07) may open positive at 62.15-20 today on the back of RBI scaling back Gold curbs in various ways. It broke below the two day low of 62.25 yesterday and failed to recover its ground. The bearish scenario mentioned here has played out so far and strength will be back only on a firm move above 62.25-30. Major resistances remain unchanged at 62.45-65 and supports remain at 61.60-70. The broader rangebound movement continues.

The FOMC Minutes came out last night and the US 10Yr (2.98%) saw a rise as policy makers saw risks to financial stability from continued monthly bond purchases. The ADP Employment Data came out better than expected. The NFP and Unemployment Data are due on Friday will be closely watched by the markets. The 5Yr (1.76%) saw a sharp rise while the 30Yr (3.88%) remained stable.

The markets are eagerly waiting for the ECB and the BOE Meetings today. The Euro Area yields i.e. the German 10 Yr (1.90%) and the Italian 10Yr (3.88%) saw a rise before the conclusion of the ECB Meeting. But the Spanish 10Yr (3.78%) dipped as improving Euro Area Retail Sales suggested that the economy is showing signs of improvement. The UK 10Yr (2.97%) also saw a rise before the conclusion of the BOE Meeting.

The Japan 10Yr (0.70%) remained stable. The US-Japan 10Yr Differential (2.27%) rose a bit and can bounce to 2.30%-2.35% from here.

The Indian 10Yr GOI yield (8.80%) is stable and moving in the range of 8.75%-9.00%.


19:00 GMT or 0:30 IST FOMC Minutes - - -

9:30 GMT or 15:00 IST UK Trade Balance
... Expected -9.40 £ (Bln) ...Previous -9.73 £ (Bln)

10:00 GMT or 15:30 IST EU Biz Climate
...Expected 99.00 ...Previous 98.50

12:00 GMT or 17:30 IST BOE Mtg
...Expected 0.50 % ...Previous 0.50 %

12:45 GMT or 18:15 IST ECB Meeting
...Expected 0.25 % ...Previous 0.25 %


EU Unemp
...Expected 12.10 % ...Previous 12.10 % ...Actual 12.10%

EU Retail Sales
...Expected 0.20 % ...Previous -0.41% ...Actual 1.34%

...Expected 199 K ...Previous 229 K ...Actual 238K


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 3 Dec 2018
A All Day Final Mfg PMIs
Tue 4 Dec 2018
A 04:30 AU- Reserve Bank Decision
Wed 5 Dec 2018
A All Day Final SVC PMIs
A 04:30 AU- CPI
A 13:15 US- ADP Jobs
A 13:30 US- Productivity
A 15:00 CA- Bank Of Canada Decision
A 15:30 US- EIA Crude
B 19:00 US- Beige Book
Thu 6 Dec 2018
AA 12:45 EZ- ECB Decision
AA 13:30 US/CA- Trade
A 13:30 US- Weekly Jobless
Fri 7 Dec 2018
A 10:00 EZ- GDP
AA 13:30 US/CA- Employment
A 15:00 US- Final Univ of Michigan

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