User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday August 28, 2014 - 03:38:41 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 28-Aug-2014 -0338 GMT

GOOD MORNING!

STOCKS
In the absence of any big event or significant data, all the markets have traded very quietly and the Asian markets this morning are not an exception to that. The Indian market may show some movements ahead of the long weekend and today being the Expiry session of the F&O segment.

Dow (17122.01, +0.09%) took a pause trading inside the range of the previous session. We keep watching the price action at the next resistance area in 17300-400 for short term guidance. Dax (9569.71, -0.19%) may reverse the major downtrend, contrary to our expectation of more fall, if it breaks above 9800. The bears must attack immediately from 9600-800 to survive or else a rise towards a new high, even 10600-700 would emerge.

Nikkei (15458.30, -0.49%) has broken the 4-day narrow range of 15500-650 on the downside and may test 15200-100 in the short term. The Shanghai (2212.23, +0.13%) is trading just in the middle ground of the range of 2170-2270 with immediate support at 2200-2190. Bear domination expected below 2170 and bull domination above 2270. Till a breakout takes place, expect fluctuations in the range of 2170-2270.

Nifty (7936.05, +0.40%) is stuck in the 1.5% range of 7860-7970 for the last six sessions. In today’s expiry session, a decisive move can be expected and a break above this range can take the index to our target level of 8000-20.

COMMODITIES
Gold and Silver looks positive in the near term while Crude market is bearish.Copper is trading low and may remain ranged for now.

Gold (1286.37) has risen from crucial support near 1270 and may continue this rise for a short term targeting 1300-1320. Possibility of about 5-10% rise could be seen against Euro, Dow and Rupee. Also look at Gold-WTI ratio (13.69) which is in a rally upwards and may see levels of 14.5-15. http://www.kshitij.com/graphgallery/crudeandgold.shtml#ma Near term is bullish within an overall downtrend.

Silver (19.518) has been held for now by support near 19.26 and may see a short term bounce from here towards 19.75-20. Gold-Silver ratio (65.842) seems to remain stable for now in the 65.5-66.75 region and may remain sideways ranged in the near term.

Nymex WTI (93.91) is finding it difficult to rise just now above levels of 94-94.5 and while below 95, chances of a fall towards 92-90 remains. It may extend the fall downwards soon after a short term ranged phase.

Brent (102.66) is rising steadily but note that an important resistance is coming up near 104 which if holds may push the Crude to levels of 101-100. 104 and 105 are crucial resistance levels and possibility of these levels to hold look much stronger for now.

Copper (3.1765) is trapped in the 3.10-3.22 region fluctuating between support and resistance. It has fallen from 3.22 and is targeting 3.10 again before rising towards 3.25. Ranged move could be seen in the coming sessions.

FOREX
The Majors like Euro and Sterling have been trying to make a base since Monday. Is it just a pause before resuming the fall or a precursor to a short term reversal attempt? The answer should be clear by the end of this week.

Euro (1.3211) is testing the upper end of the 4-day range of 1.3150-3220 and a break above 1.3220 may extend this small bounce to 1.3260-1.33 levels. That will delay but not negate achieving our medium term target of 1.31.

Dollar-Yen (103.74) is undergoing the expected correction but the intermediate trend remains up above 103. Some more consolidation in 103.50-104.50 is possible before higher levels come. The grinding price action without any kind of directional move in Euro-Yen (137.06) actually shows the relative uniformity between Euro & Yen as both weakened simultaneously. The pair remains weak below 138 and the range of 136-138 may sustain for a few sessions more.

Pound (1.6591) is stuck within a 50 pips range for the last 5 sessions and a break above 1.66 may produce a corrective rally to 1.6650-1.6700 with the major downtrend still in force.

Aussie (0.9357) is testing the August high at 0.9375 levels but the lack of momentum doesn’t promise much more immediate upside. A failure to break above 0.9385-0.9400 may drag it down towards 0.9280-50 levels once again.

Dollar-Rupee (60.4550) remains below our resistance 60.65-70 for the last 3 days and may test the lower end of the range of 60.35-70 today. As mentioned earlier, a break of 60.37-35 opens up the door to 60.00-59.85.

INTEREST RATES
German and US Yield Curve continues to flatten. A low interest rate environment seems to prevail generally. But, the KSHITIJ E-4 Composite Yield hits a Support.

The German-US 2Yr Spread (-0.54%) has moved up 1bp from -0.55% earlier. The Support near -0.60% mentioned yesterday may hold for the next few weeks, or at least till next Thursday's ECB Meeting.

The German 10Yr (0.91%) has been trading well below 1% for a week now and has further room to fall towards 0.80% and even 0.70%, leading to Curve flattening. The French 10Yr (1.25%) looks set to nosedive towards 1.0%, maybe lower.

WARNING, however, the KSHITIJ Euro-4 Composite 10Yr Yield (1.1525%) has hit a long-term trendline Support and as such, we should also be careful about a possible bounce. The Euro-4 include Germany, France, Spain and Italy.

The US 2Yr (0.51%) has also dipped by 1bp as the Resistance near 0.53% mentioned yesterday holds well. A dip towards 0.45%, if not not 0.40% might be possible. The US 30--5 Yr and 10-5 Yr Spreads (1.46% and 0.71% respectively) continue to decline and seem to have further room to fall. The 30-10Yr Spread (0.75%) is also in a downtrend with chances of seeing 0.70% ahead.

In India, the 10Yr GOI (8.5558%) remain relatively high, but we think there are chances of seeing lower levels while the market remains below 8.60-65%

DATA TODAY



9:00 GMT or 14:30 IST EU Biz Climate
...Previous 102.0

12:30 GMT or 18:00 IST US GDP
...Expected 3.90 % ...Previous 3.90 %


DATA YESTERDAY
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.

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