User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 6, 2014 - 03:40:04 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 06-May-2014 -0340 GMT


The conflict between Ukraine and Russia has intensified but the effect seems largely contained to the commodities and the equities or Forex have not been affected till now.

The Dow (16530.55, +0.11%) is once again trading close to the upper end of the 10 week long range of 16000-16600 and made a high at 16620 on NFP data before coming down. But the bulls still need a new high above 16650 to confirm the resumption of the uptrend or they will run the risk of going towards 16300 and lower.

The Dax (9529.50, -0.28%) is facing selling once again from the upper end of the range of 9050-9720. This rangebound movement inside the broad range of 9050-9720 is going on for a considerable time now but a breakout above 9720 may produce a very sharp rally to 10000-10200.

In the Asia-pac, Shanghai (2028.85, +0.07%) is testing our resistance at 2030 now and may reach 2040-50 now. The upward journey may not be that smooth with 2070-80 expected to stiffly push down any bounce.

The Nikkei (14457.51, -0.19%) has bounced from our target zone of 14200. The trend remains weak below 14675-700. But a break above 14700 will take it higher to 15000-200. Bias is neutral now.

The Nifty (6699.35, +0.07%) bounced as expected but was limited to 6740 levels so far. Today it may try to bounce again towards our expected 6770-90, the major resistance areas now inside the broader range of 6650-6850. Only a break below 6650 and then 6620 would open the door to much lower levels of 6500-6400.

Gold, Copper and Silver potentially bearish while Crude may trade higher in the near term.

Gold (1309.019) and Silver (19.51) are stable for now. Gold came off from crucial 1315.32 which if holds may push it to 1300; else it may rise higher to 1320. Silver remains stable while below crucial resistance at 19.66. Overall metals are in a long term downtrend.

Copper (3.0500) is testing channel support on the daily and may bounce a little targeting 3.08-3.10. Overall longterm down trend is in force since Janí12 and the bears would hover around unless we see a break above 3.10-3.15.

Nymex WTI (99.41) is trading within crucial levels of 98.71-100.76 and unless a break on either side of this range it may remain ranged. A break above 100.76-100.99 could take it higher to 101.12-102 levels. However if a break below 98.71 is seen, it may fall further towards 96-94. Overall itís in an uptrend since Juní12.

Brent (107.71) fell sharply as the 200-day MA holds well for now. While below resistance at 109.18, it may trade in the broad 107-109 region. It needs to break crucial level of 108.74 and then 109.18 above which it may target 110. Note that it is testing channel support on the daily charts and may bounce back in the next couple of sessions.

The major currencies remain largely unchanged after the Friday spikes produced by the surprising US NFP data.

Dollar Index (79.4690) keeps trading inside the broad range of 79.25-80.50 and is close to the major support of 79-78.50 now. Only on a break above 80.55-60, the trend will reverse from down to up. A break above 80.15 would be an initial sign of strength.

The Euro (1.3880) is trading in a narrow sideways range of 1.3860-90 after bouncing from 1.3810. While the bounce is bullish enough, it must break above 1.3900 to confirm immediate rise to 1.4000-50.

Dollar-Yen (100.06) tested 103 briefly before sharply reversing to the downside. It has managed so far to remain in the 10 week long broad range of 101-104. We keep watching the long term support at 101.00-100.50 for major moves.

The Euro-Yen Cross (141.66) has tested the 141 as expected but the broader range of 140.00-143.50 must be broken to generate any meaningful move. It may trade in this range for some more time.

Pound (1.6877) has lost some of its bullish momentum contrary to our expectation when it tested 1.6820 after the NFP data. The immediate recovery keeps alive the possibility of further rise towards 1.7000-50 but another dip to 1.6800-6760 canít be ruled out before any rally.

Aussie (0.9285) may rise to the strong resistance area of 0.9380-0.9400 if it manages to break and stay above 0.9315 now. A failure may result in another fall to 0.92. Major supports remain at 0.9160-30.

Dollar-Rupee (60.21) has bounced from 60.00 levels but doesnít bring any conclusive reversal yet. The oversold state has produced a 23 paisa bounce similar to the bounce of 25 paisa on 28th April before falling again. So it remains to be seen if it manages to break above 60.25-28 today to reach the strong resistance zone of 60.40-50. If it fails to break above 60.25-28, the fall may resume again.

The US 5Yr (1.68%), 10Yr (2.61%) and the 30Yr (3.40%) yields saw a slight rise yesterday. The yields have crucial supports coming up at 1.62%, 2.50% and 3.35% respectively. The 30-10Yr spread (0.80%) has also come to test support at current levels. We can now expect the US Yield curve to steepen in the coming months if these supports hold.

The German-US 2Yr yield differential (-0.29%)remained stable and may come to test the support near -0.35% as the Euro (1.3880) struggles to break above the long term resistance at current levels. The German 10Yr (1.46%) remained stable and can target 1.40%.

The Japanese markets are closed today. The Japan yield spreads have come to test supports at current levels and we may see a bounce from here.

The Indian 10Yr GOI (8.74%) dropped below the support near 8.80% and is vulnerable to further fall towards 8.50-8.60% while below 8.80%.

Over in Australia, we have the RBA Meeting at 10.00 (IST) and it is expected that the RBA will keep its rates unchanged.


1:30 GMT or 7:00 IST Australia Trade Balance
...Expected 1.10 AUD Bln ...Previous 1.26 AUD Bln ...Actual 0.73 AUD Bln

4:30 GMT or 10:00 IST RBA Meeting
...Expected 2.50 % ...Previous 2.50 %

9:00 GMT or 14:30 IST EU Retail Sales
...Expected -0.20 % ...Previous 0.39 %

12:30 GMT or 18:00 IST US Trade Balance
...Expected -40.10 $ Bln ...Previous -42.30 $ Bln

14:00 GMT or 19:30 IST CA PMI
...Expected 54.50 ...Previous 55.20


CN Manufacturing PMI
...Expected 48.40 ...Previous 48.00 ...Actual 48.10





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."

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