User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday January 23, 2014 - 03:27:26 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 23-Jan-2014 -0326 GMT

GOOD MORNING!

EQUITIES
Dow (16373.34, -0.25%) consolidation may be over by today or tomorrow and the next phase of rally may unfold on a break above 16530. The Inverse Head & Shoulder pattern visible on the daily chart gives a target of 16800, nicely coinciding with the long term projection band of 16800-17600 we have been watching.

Dax (9720.11, -0.10%) continues its sideways movement in the narrow range of 9650-9800 with the uptrend intact. Staying above 9350-400, the target of 9950 remains open.

Nikkei (15833.16, +0.08%) is getting rejected from the strong resistance 16000 to keep the bulls on their toes. A failure to close above 16000 may drag it to 15400-500 or lower again.
Shanghai (2040.76, -0.54%) broke above the resistance of 2030 and may retest the major supply zone of 2060-80 now. The medium term trend remains down and the longer term target could be as low as 1750-1850 unless short-covering is seen at 1950.

Nifty (6338.95, +0.40%) must break above 6345-60 to rally towards 6500-6600, otherwise we may see a gradual fall to 6200-6250 again. We may discard the bullish scenario below 6200. Weakness returns below 6280.

COMMODITIES
Metals are trading low and may test near term supports while the Oil market trades higher.

Gold (1234.77) has fallen while long-term downtrend still persists. It may test crucial support in the 1225-1200 regions for now which if holds could take the prices higher towards 1280.

Silver (19.797) has also fallen as the Resistance in the 20.30-50 region holds, stretching the sideways movement within the broad 19-20.5 region. It may now test crucial support within 19-18.5 from where it may bounce back towards 20.5.

Copper (3.3225) dropped as the China Flash manufacturing PMI came out lower than expected. It may now test Support near 3.30 from where it may bounce back towards 3.35. While below 3.40 a rally upwards is not very likely.

Brent (107.990) rose sharply bouncing from the 13-day MA support. While above 107, we may see a rise towards 109-110. Else it may consolidate for a while in the 107-108 region before rising further. Overall the long term uptrend persists.

Nymex WTI (96.52) rose sharply making a three week high of 96.89 since 3nd January 2014. We may now expect a rise towards 97-98 and even 102 in the long term.

CURRENCIES
Dollar Index (81.22) is struggling near the major supply zone of 81.50 and could fall towards 80.90 again unless it breaks above 81.50 soon. The overlapping structure of the rally from 79.70 doesn’t look very strong till now.

Euro (1.3550) is making a Bear Flag and may fall towards 1.34-1.33 on a break below 1.3500-30. Upside looks limited to 1.3600 for the moment as the trend remains firmly down.

Dollar-Yen (104.58) has bounced back from our support zone of 103.65-104 to reassert the longer term uptrend. The rally may target 107 now above the major resistance of 105.40-60.

The Euro-Yen Cross (141.69) has reached 142 in line with our expectation but in a very laborious manner. The structure remains weak and further upside looks limited to 143-143.30. A break below 140 may drag it to 138.50-140.

The Pound (1.6569) is hitting the upper end of the band at 1.66. A firm move above 1.6600-50 would signal the long term uptrend reasserting itself and targets of 1.6750 & 1.69 would open.

The Aussie (0.8804) has been rejected from our resistance of 0.89. Now only a move beyond the range of 0.87 and 0.89 would determine the next broader movement.

Dollar Rupee (61.82) may open higher today near 61.95-62. It found support at the old supply zone turned demand zone of 61.70-75 yesterday. As long as it stays above 61.65-75, we may expect higher levels. Having said that, any failure to rally above 62.01 and 62.08 would bring the weakness back.

INTEREST RATES
The US 10Yr (2.86%) rose a little yesterday. Charts show that it is testing support at current levels and if that holds we may see a bounce from here towards 3.00%.

The German 10Yr (1.76%) also rose. It is moving in a sideways trend between 1.70% and 1.85% and can target support near 1.65%-1.70%. The German-US 10Yr spread (-1.12%) fell further towards our target of -1.20%.

The Japan 10Yr (0.68%) has been rising over the last 2 days. It can target the resistance near 0.72%-0.73%. The US-Japan 10Yr yield spread (2.17%) has dropped and can target 2.10%.

The Indian 10Yr GOI yield (8.60%) rose yesterday after falling since 27th December 2013 from 8.96%. In a near term downtrend it can target 8.50%-8.45% but if this sudden rise holds we may see it rising up to 8.70%-8.75%.

DATA TODAY
9:00 GMT or 14:30 IST Euro Area Monthly Balance of Payments
... Previous - 21.80 EUR Bln

15:00 GMT or 20:30 IST US Existing Home Sales
...Expected 4990 K ...Previous 4900 K


DATA YESTERDAY

AU CPI
...Expected 0.50 % ...Previous 1.20 % ...Actual 0.80%

BOJ Meeting
...Previous <0.10 % ...Actual <0.10 % ...Previous <0.10 %

UK BOE Minutes
...Expected 0-0-9 % ...Previous 0-0-9 % ...Actual 0-0-9 %

UK Unemp
...Expected 7.30 % ...Previous 7.40 % ...Actual 7.10 %

BOC Meeting
...Expected 1.00 % ...Previous 1.00 % ...Actual 1.00 %

 

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