User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 27, 2014 - 03:36:21 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 27-May-2014 -0335 GMT


With the US market closed yesterday and domestically, the Modi ministers swore in, there are no news or event to move any of the markets and we may see a quiet day today.

There is a contraction visible in Dow (16606.27, +0.38%) as both the rallies and the drops are getting smaller even with the higher highs & lows coming up. Keep an eye on 16300 on the downside and 16800-900 on the upside for an explosive breakout beyond this contracting range. The Dax (9892.82, +1.28%) chart shows similar price contraction too with the price coming out of the pattern at 9900 with increasing volatility. Anyway, this clean break above 9800 to an all time high may take it to 10300-400 now.

The Nikkei (14706.95, +0.72%) has broken above 16650 to trigger a short term reversal and a rally towards 15200-300 or even higher. The Shanghai (2040.70, -0.04%) is testing the 2040-50 resistance band repeatedly without much momentum in favor. The sideways move in the broader range of 1990-2080 may continue for some more time in a base-building process. Supports are at 2010-1990.

With huge volatility yesterday, the corrective mode of the Nifty (7359.05, -0.11%) has been well established with the possibility of consolidation in the broader range of 6900-7500 gaining more ground. The most bullish option would be the correction ending above 7235 but the possibility of this correction retesting 7130 is looking much higher right now. Keep an eye on 7200-7190 and 7080 for major supports.

Precious Metals are stable while Copper, Brent and WTI are potentially strong before the US data today.

Gold (1291.61) continues to remain stable within the 1280-1304 regions. Unless we see a break on either side of the range, further direction cannot be determined. Silver (19.391) is also stable but is testing crucial long term support near current levels on the line chart. This may lead to 19.66 again but unless a break above 19.66 is seen, it may remain range bound.

Copper (3.1795) is maintaining the rise targeting resistance zone of 3.20-3.23-3.25 in the upcoming sessions. Growth in Chinese economy may increase demand for the metal boosting prices in the near term. We may see a little correction from 3.23-3.25 towards 3.15 before resuming further rise. Overall the metal is in an uptrend.

Brent (110.58) is trading near crucial resistance at 110.58 on the weekly line charts and while that holds we may see some sideways movement below 110.5. There is also a fair possibility to fall towards 110-109 before resuming the rise towards 112. However, a break above 110.58 would take it higher towards 112.

Nymex WTI (104.38) is in a rally aiming resistance 105-105.22 in the coming sessions which if holds may come off to 103-102 levels. However, if it breaks above 105.25 it may rise further towards 107. There is a double bottom formation on the line charts which may signal near term bullishness.

After a few sessions of a strong Dollar, the currencies are trying to appreciate a bit against the Dollar but without much success yet. The major pairs have to rise much more to really weaken the Dollar.

The Euro (1.3662) is creating a Matching Low at 1.3613, close to the trendline support at 1.3590-80 and this bounce may take Euro higher to 1.3700-30. But the weakness remains intact below 1.3800 and any bounce is expected to face selling pressure.

Dollar-Yen (101.97) is testing our resistance area of 102 and a break above 102.00-15 may take it to the major supply zone at 102.75-103.00.The Euro-Yen (139.29) is bouncing from an important Support around 138.70-30 but unless Resistance at 140 is broken, there could be chances of further fall to test 200-day MA at 137.94 or even lower towards 136.

The Pound (1.6864) has suffered from a sharp correction lately but the uptrend remains intact for targets of 1.70 as only a break below 1.6730 could negate the uptrend and then a dip to sub-1.6600 levels would be on cards. Watch for a break above 1.6900-20 for strength.

The Aussie (0.9256) is trying to stay above the major support area of 0.9200-0.9180 after the sharp fall, but the current structure remains weak. Are the Bulls thinking of a large Cup & Handle breakout in the near future?

Dollar-Rupee (58.71) made a higher high above 58.86, activating a buy signal with a stoploss below 58.33. Still, a break above our old resistance area at 58.90-59.00 and 59.20-30 would make us much more confident with our longs. Support comes at 58.62-55.

The US yields are testing the crucial levels of 1.55% for the 5Yr (1.54%) and 2.55% for the 10Yr (2.55%). A clear break on either direction of these levels will we give us further direction. The 30Yr (3.40%) remained unchanged and may test the support near 3.38%.

The German –US 2Yr spread (-0.29%) is down while the 10Yr spread (-1.13%) is up, breaking above the resistance near -1.15% as the Euro (1.3662) bounced slightly from the support as seen in the weekly line charts. The German 10Yr (1.42%) was unchanged after the rise from the 1.37% levels and is trading near our target of 1.45%.

The US-Japan 10Yr yield spread (1.96%) is stable as the Dollar-Yen (101.97) also remains stable near yesterday’s levels. The yield spread is testing the 55 Week MA support at current levels and can rise further up from here. The Japan 10Yr (0.59%) is also unchanged and is expected to maintain a range of 0.55% - 0.60%.

The Indo-US 10Yr yield spread (6.15%) has bounced from the support near 6.10% as expected. The 10Yr GOI (8.68%) is up after the bounce in the yield spread and can target 8.75% if the rise continues otherwise the downside risk of 8.50% - 8.55% remains open.


12:30 GMT or 18:00 IST US Durable Goods Orders
...Expected -0.50 % ...Previous 2.51 %

13:00 GMT or 18:30 IST US Case Schiller
...Expected 11.90 % ...Previous 12.86 %

14:00 GMT or 19:30 IST US Cons Conf
...Expected 83.20 ...Previous 82.30 %

No major data release yesterday.




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.

Upgrade Your Trading experience. Try the Amazing Trader

Trading Ideas for 15 January 2018

Upgrade Your Trading. Try The Amazing Trader

Amazing Trader EVENT RISK Calendar:

Mon 15 Jan 2018
00:00 US- Holiday
Tue 16 Jan 2018
09:00 GB- CPI
20:00 US- Beige Book
Wed 17 Jan 2018
00:30 AU- Employment
02:00 CN- GDP
10:00 EZ- final HICP
14:15 US- Industrial Production
15:00 CA- Bank of Canada Decision
Thu 17 Jan 2018
13:30 US- Weekly Jobless
13:30 US- Housing Starts/Permits
16:00 US- EIA Crude
Fri 18 Jan 2018
09:30 GB- Retail Sales
15:00 US- University of Michigan (prelim) Survey

PROSPECTIVE Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH- Wed -- 00:30 GMT-- AU- Employment

  • POTENTIAL PRICE RISK: Medium- Wed -- 10:00 GMT-- EZ- Final HICP

  • POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production

  • POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision

  • John M. Bland, MBA
    co-founding Partner,

    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.



Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105