User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday September 24, 2014 - 03:25:04 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 24-Sep-2014 -0324 GMT


Poor Chinese data yesterday was reinforced by a flurry of poor Eurozone data. The technical weakness discussed in this space is manifesting. An important period in development from the longer term perspective.

Dow (17055.87, -0.68%) achieved our extreme short term target of 17067 immediately and now may target 16930-900 or even 16830. The advance-decline ratio of 1:29 suggests severe weakness. Dax (9595.03, -1.58%) closed below the support area of 9700-600 and now, if follow-up selling comes today, a further drop towards 9400 or lower canít be ruled out.

Shanghai (2312.95, +0.14%) retested our support zone of 2285-70 as the correction continues. For a directional move, the broader range of 2260-2350 needs to be broken. The Nikkei (16178.87, -0.17%) is correcting just like the other indices after hitting 16364, a level last seen in October 2007. Expect support from 15900.

Nifty (8017.55, -1.58%) closed below our support area of 8050-25 and opened the door towards a retest of 7950-30 or even lower. A close below 8000-7990 may keep the bearish momentum dominant.

Gold (1221.53) made an intra-day high of 1234, but could not sustain above 1225. There is still a possibility of 1200 on the downside from where a bounce towards 1225-1230 may be expected. Silver (17.721) has paused in the 17-18 region and may continue so for this week. Gold-Silver ratio (68.881) has been rising steadily and may soon target 69.5-70 levels.

Nymex WTI (91.61) is held above support near 90 but need to see if this sustains. We may expect some sideways consolidation in the 90-92 region before deciding its direction further. Overall the long term trend is down.

Brent (96.60) is trading lower today and while below 97, it may target 96-95 before pausing. Note that 95 is a crucial weekly support which may hold prices for sometime. Further if it fails to bounce from 95, it may fall towards 92.5-90.

Copper (3.0380) has fallen further on poor Chinese data yesterday and may test 3.00 in the coming sessions. As said yesterday, a failure to bounce from 3.00 may push it to lower levels of 2.95-2.90 in the mid-term. Near term is bearish.

A very quiet day, with almost nothing taking place for the Majors and Dollar Index (84.63). Insignificant moves inside narrow ranges prevail.

Euro (1.2857) is showing very marginal signs of making a bottom near 1.2825-2800 with a severe decrease in bearish momentum despite the new lows. Though a break above 1.2930 and then 1.30 is immediately required to make even the smallest dent on the bearish fort. Keep watching for any sudden short covering emerging or another vertical capitulation.

Dollar-Yen (108.58) is in a shallow correction of its overstretched state as expected and a pullback till 107 would be very normal. The Euro-Yen Cross (139.62) faced a sharp rejection exactly from our resistance of 141.25 and with Yen regaining some strength, may correct to 139.00-138.50 now.

The Pound (1.6408) is showing immense volatility as discussed multiple times. Our 1.6550 has turned out to be the cap of the current bounce and is acting as the top end of the short term range as expected with the currency trading in 1.6050-1.6525 for the next few weeks.

Aussie (0.8863) is making a structure similar to a Falling Wedge in the shorter term charts with a breakout level at 0.89. A break above 0.89 may trigger a corrective rally to 0.8950-0.9000 but the major trend remains down very firmly.

Dollar-Rupee (60.94) has tested the Golden Ratio today, turning this into the best opportunity for the bears to take control for a target of 60.60. The bearish momentum begins weakening above 61.05. The broader range for the day may be 60.80-61.20.

The US 5Yr (1.77%),10Yr (2.54%) and 30 Yr (3.25%) are down by 1,2 and 4 bps respectively. The 30Yr has come off after testing resistance near 3.29% on the weekly and may soon see a fall towards 3.00% in the near term. The 10Yr on the other hand has some more room on the downside towards support near 2.50% before bouncing from there towards 2.55-2.60%. The 10-5Yr differential (0.77%) is facing resistance near current levels and may fall again towards 0.75% indicating a fall in the 10Yr yield. The 5Yr may test support near 1.75-1.73% in the near term before bouncing up towards 1.80%. Overall the US yield curve is tending to flatten in the longer run.

The German 5Yr (0.203%) has risen from0.1875%.On the longer term the 30 Yr may fall the most while the 5Yr and the 10Yr may rise towards 1.2-1.3%. Euro (1.2854) may see some short term correction towards 1.29-1.295 but overall the yields may remain stable for now.

The Indian 10Yr (8.46770%) has bounced from 8.43% taking the Indo-US 10 Yr (5.92%) higher by bps and may now target 6-6.5% in the near term.


8:00 GMT or 13:30 IST GER IFO Business Climate
...Expected 105.9 ...Previous 106.30

8:00 GMT or 13:30 IST GER IFO Business Situations
...Expected 110.6 ...Previous 111.10

8:00 GMT or 13:30 IST GER IFO Business Expectations
...Expected 101.3 ...Previous 101.70

14:00 GMT or 19:30 IST US New Home Sales
...Expected 432 K ...Previous 412 K

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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

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