User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday March 13, 2014 - 03:22:37 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 13-Mar-2014 -0321 GMT

GOOD MORNING!

EQUITIES
The global markets are trading mostly flat ahead of a batch of key Chinese economic data including industrial output. The Indian markets are expected to benefit from the better than expected CPI and IIP data.

Nikkei (14899.83, +0.47%) has found selling at our target resistance of 15200-300 as expected and turned range bound once again inside the broader range of 14600-15300 in line with our expectation. A break below 14600 may drag it down to 14400-14000.

Shanghai (2021.24, +1.18%) broke below the support of 2020-15 to test the January low. The bears dominate firmly as long as it stays below 2040-50 and reversal will come only on a break above 2080. A break below 1980-75 may take it to 1950-45.

Nifty (6516.90, +0.08%) consolidated at the higher levels for another day after the sharp rally. The bullish momentum remains intact above 6340-60 and we may expect further rally to 6650-6700 in the coming days with some consolidation in between.

Dow (16340.08, -0.07%) has not managed to break above our supply zone of 16400-600 till now but the correction seems to be a mild one till now with not much weakness visible. Till 16200-150 is broken, the upside possibility towards 17000 will get more weightage.

COMMODITIES
Precious metals are trading up while the oil market is under the control of the bears.

Gold (1372.41) has risen sharply and is targeting resistance near 1375-1380 from where we may see a downward correction before again resuming its further rise. A break above 1380 would take it higher towards 1400-1425.

Silver (21.38 is trading high but has come off from resistance near 21.48-50. It may either pause here for a few sessions or rise to 22.5 levels if it breaks 21.50.

Copper (2.9615) has bounced from 2.90 levels but while below 3 we may still expect the bears to dominate the prices. Only a break above 3 would give a signal of upward correction.

Brent (108.31) remains stable and may continue so in the 108-109 region. We may see an eventual rise towards 110 in the coming weeks.

Nymex WTI (98.12) traded near the lowest price in more than a month breaking below 98.63 after the U.S. announced a test sale of oil from the Strategic Petroleum Reserve and data showed Crude stockpiles rose. Immediate support near 97.20 is seen. The Brent-Nymex spread (10.13) is trading just below channel resistance and may come off to 8 if this holds. This may indicate a pause in WTI or possibly an upward correction soon.

CURRENCIES
Dollar Index (79.59) is trading below the support zone of 79.80-70 and the door to 79.10-78.60 or even 78 has opened now. Every corrective rally till 80.30-55 may face selling pressure. The long term trend may get severely bearish below 79.10.

The Euro (1.3908) is trading above the major resistance band of 1.3850-85 and it may rise to 1.3950-1.4050 now. Above 1.4050-1.41, the long term trend will turn firmly bullish.

Dollar-Yen (102.75) has broke above the broader range of 101-103 and reached the 2013 top at 103.75 before coming off the highs a bit. Staying above 102.70-80 will keep the trend up but for rising higher towards 105, a break above 103.75-90 is required.

The Euro-Yen Cross (142.86) broke out of the range of 138.80-141.30 to reach 143. The long term uptrend may have resumed and it may rise further towards 145.50-146 now.

Pound (1.6625) is in a correction of its major uptrend now which may extend to 1.6550-1.65 only if breaks the support of 1.66-1.6580. It may reach 1.69-1.7050 after the current correction finishes. All the dips till 1.6440-30 may be bought into.

Aussie (0.9070) has bounced towards 0.91 from our support around 0.8950 as expected. A break above 0.91 may extend the rally to 0.9165 and 0.9250.
Dollar-Rupee (61.22) rallied to make a high at 61.26 in line with our expectation but yet to break above 61.35. It may correct the rally now with support coming at 61 and then 60.90-80.

Dollar-Rupee (61.22) rallied to make a high at 61.26 in line with our expectation but yet to break above 61.35. It may correct the rally now with support coming at 61 and then 60.90-80.

INTEREST RATES
The US 10Yr (2.74%) saw a drop yesterday, but is still maintain our range of 2.60-2.80%. It has come down to test the support on the weekly. The 10-5Yr yield differential (1.14%) is also just above the support at current levels. With the 10Yr and the 10-5Yr yield differential trading just above support we may see the 10Yr bounce from here if the supports hold.

The German 10Yr (1.59%) dropped from the resistance zone near 1.65-1.67%. We may now see it dipping further towards 1.55% and further while below 1.60%. The 10Yr Bund-Bond Spread (-1.09%) has risen as the Euro (1.3908) continues to trade higher.

The Japan 10Yr (0.64%) has seen a rise and can now testing the channel resistance near 0.65-0.66%. The US-Japan 10Yr spread (2.09%) has dipped further and can target 2.00%.

India's 10Yr GOI (8.72%) remained stable waiting for the IIP and CPI data which came out after market hours yesterday. The IIP came in at 0.10% and the CPI at 8.10%. With better than expected results we may see the yields going up. But that needs to be watched.

DATA TODAY

0:30 GMT or 6:00 IST Australia Labour Force
...Expected 15.30 K ...Previous 18.0 K ...Actual 47.3 K

12:30 GMT or 18:00 IST US Retail Sales
...Expected 1.87 % ...Previous 2.21 %

DATA YESTERDAY


EU IND Prodn (MoM)
...Expected 0.50 % ...Previous -0.30 % ...Actual -0.20 %

EU IND Prodn (YoY)
...Expected 1.90 % ...Previous 1.61 % ...Actual 1.61 %

IN CPI (Feb'14)
...Previous 8.79 % ...Expected 8.10 % ...Actual 8.10 %

IN IIP (Jan'14)
...Previous - 0.20 % ...Expected -1.10 % ...Actual 0.10 %

 

 

 

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