User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday February 3, 2014 - 03:16:52 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 03-Feb-2014 -0314 GMT


It is a crucial time for Dow (15698.85, -0.94%) as it gets closer to the major support cluster of 15300-450. If it doesn’t go much lower than the Friday low of 15600, it may bounce back to break above 15950 and go higher. Otherwise it may test the final support of 15300-450 before giving the first sign of weakening momentum.

Nikkei (14673.42, -1.62%) has signaled the end of its bull market from late 2011 which is yet to be confirmed by Yen. It has failed to break above 15600-700 and testing the final support of 14650-900, below which it may target 13700 and 13200.

Shanghai (2033.08, -0.27%) is among the better performers in this turmoil as it has already been in a major bear market for while now and has been beaten a lot already much before the other markets came under bear grip. That said, it needs to rise past 2080-90 and then 2150 to break the longer term downtrend it is trapped in.

Dax (9306.48, -0.71%) is in a firm downtrend but some buying is visible in the lower levels which may take it to 9500-50 before the next phase of the fall resumes towards 8950-8850.

Nifty (6089.50, +0.26%) got rejected from our initial resistance zone of 6100-10 twice during the day but managed to trade in a narrow band of 30 points. Even if it manages to break above 6100-10, the bulls may have to handle the strong supply zone of 6160-90 giving no peace of mind to the bulls. The targets of 5970 and 5920 remain open.

Gold (1245.07) is trading low on decrease in physical purchases. While below 1250 we may expect a fall to 1235 from where it may bounce back to 1250 and above.

Silver (19.138) is also trading low and may test crucial support in the 19-18.5 region from where it may bounce back towards 20.

Copper (3.1950) fell below 3.20, further stretching its downfall as manufacturing slowed in China. It is testing crucial support at current levels from where it may bounce back to 3.25-3.35. Failure to bounce would push prices to 3.10.

Brent (106.30) is ranged with no major movement and may continue so in the 106-108 regions. Overall it remains in a long term uptrend.

Nymex WTI (97.11) fell as manufacturing declined to six-month low in China. But we may see an eventual rise to 98.76-99 in the near term while the long term uptrend continues.

The Dollar Index (81.3130) is testing the higher end of the 3 month long range of 79.70-81.50 for the third time. A successful break above 81.50 may take it to 81.85-90 and then 82.50-60. A failure once more would keep it range bound.

The Euro (1.3550) signaled a move towards 1.33 and even 1.31 as it has broken the important support zone of 1.35-1.3540 after failing to break above the major trend decider level of 1.3750 in line with our expectation. The bearish momentum may increase below 1.3450 while any possible bounce may face good selling pressure.

Dollar-Yen (102.37) is consolidating near the bull market defining support level of 101.50-101.90 but for the strength to return, it must break above 103.70-90 and 105.

The Euro-Yen Cross (138.03) achieved our first target of 138.45 and made a low very close to our second target of 137. Holding this low of 137.45, it may try to bounce towards 139.50 but all rallies are expected to be sold into.

The Pound (1.6424) remains in its own world as a comparative outperformer and may trade in the range of 1.6350-1.67 for some time more.

The Aussie (0.8746) has bounced from the major support of 0.87 but must go above 0.8830 and then 0.89 to make it meaningful. Otherwise, it could be in danger of seeing a meltdown towards 0.8500.

Dollar-Rupee (62.68) finished the week where it began it, indicating uncertainty over the medium term course. It may trade in the range of 62-63 for a couple of sessions more. 62.90-63.05 will continue to be a major resistance and support may be expected near 62.45-40 initially and then in the 62-61.75 band.

The US 10Yr (2.66%) saw a drop after rising to 2.70%. Falling to sustain itself above the support at 2.70% it may now come to test support at 2.50% before rising back to 2.70% again.

The German 10Yr (1.66%) dropped and is trading above the support at current levels. A bounce from the support and we may see it going up to 1.75%-1.80%. The German-US 10Yr spread (-1.00%) is just at our target as mentioned on Friday.

The Japan 10Yr (0.61%) remained stable, consolidating in the range of 0.60%-0.65% for the last few sessions. It can drop to target support near 0.50%. The US-Japan 10Yr yield spread (2.05%) has also remained stable. We may see a bounce towards 2.15% if it is able to recover from here or else a drop to 1.95%.

The Indian 10Yr GOI yield (8.77%) fell below 8.80% after seeing an unexpected rise to 8.82%. With no confirmed direction of movement, we can say that it may remain ranged between 8.70% - 8.90%.

22:30 GMT or 4:00 IST AU PMI
... Previous 47.60 ...Actual 46.7

5:00 GMT or 10:30 IST IN Manufacturing PMI
... Previous - 50.70

9:00 GMT or 14:30 IST EU PMI
... Previous - 52.70

9:30 GMT or 15:00 IST UK PMI
... Previous - 57.30

9:30 GMT or 15:00 IST CH PMI
...Previous - 53.90 -

15:00 GMT or 20:30 IST US Manufacturing ISM
...Previous - 57.00


...Previous 55.20 ...Actual 56.6

JP Unemp
...Expected 3.90 % ...Previous 4.00 % ...Actual 3.70%

UK Cons Conf
...Expected -10 ...Previous -13 ...Actual -7

...Expected 0.70 % ...Previous 1.30 % ...Actual 0.2%

US Personal Income
...Expected 0.20 % ...Previous 0.21 % ...Actual 0.02 %

US PCE Price Index M/M
...Expected 0.20 % ...Previous 0.65 % ...Actual 0.38 %

...Expected 0.20 % ...Previous 0.30 % ...Actual 0.20%


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