User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday October 29, 2014 - 03:50:18 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 29-Oct-2014 -0350 GMT


Volatility across markets has reduced considerably in run-up to FOMC meeting. Markets will be closely watching for any clues to possible FED action in tackling stronger dollar and low inflation concerns.

The Dow (17,005.75, +1.12%) has just nudged past the minor resistance at 17000, this supply zone of 17000-150 should pause the markets for today as it waits for FOMC. The stronger supply area at 17500 will come into play on any bullish move post-FOMC.

Dax (9068.19, +1.86%) rallied smartly making new swing highs and is now close to testing the resistance at 9100. If the resistance of 9100 holds, we could see a retracement to 8800 levels or even to stronger support area of 8650.

Shanghai (2355.6, +0.72%) has bounced from an oversold territory. The levels of 2270-60 remain immediate support, and break of these levels would imply a larger downside to 2200 or lower.

Nikkei (15541.20, +1.38%) move on back of BOJ stimulus hopes have not reduced the structural weakness in the chart formations. 15600 remains a immediate and crucial hurdle to cross for bulls, and later a much stronger supply zone at 15750-15900 will have to be tackled. It is too early to call for a rally, as long a Nikkei trades below these levels.

Nifty (8027.60, +0.45%) has been having tough time to cross 6050, a break above the levels of 8050-70 would be short term bullish. Bulls have their first support at 7990, and much better support at 7935-15.

Gold (1230.01) is ranged for now. May see a rise to 1260 before falling sharply towards 1240-1230 again. There is a possibility of retesting 1180 levels in the near term which can only be negated on a sustained rise above 1260. Silver (17.23) continues to consolidate for now with a possibility of moving towards 17-16.5 in the near term. Near term is bearish.

Nymex WTI (81.68) is trading a bit higher but is held below the 13-day MA. While the movements are short and narrowing, we need to see if it is able to bounce from current levels towards 84 or break below 80 to target 78-76 levels. We may soon expect the price to bottom out near 78-76 region.

Brent (86.27) is testing immediate resistance on the daily and may fall a bit towards 85-84. Very tight movement indeed since the last 2-weeks in the 84-86 region. Sideways consolidation to continue for sometime.

Copper (3.0795) has come off from channel resistance near 3.0960. But the rise does not seem to have ended yet. A bit of correction towards 3.05-3.03 and we may see a retest of 3.096-3.10 levels. Fluctuation in the broad 2.90-3.10 region may continue in the near term.


Mixed moves in currencies. Dollar a tad weaker against the Euro and Pound, but weaker against the Yen. Aussie and Rupee remain stable. Overall conditions remain quiet in currencies for now.

The Euro (1.2738) showed more strength than we thought yesterday, rising to 1.2765 in US trade, coming up from Support at 1.2685. However, the overall bearishness still remains while below 1.2780, although a test thereof is a possibility now.

The Pound (1.6130) also rose to 1.6182 yesterday, testing the cup-handle neckline mentioned yesterday. A test of 1.62 is possible now while above 1.6100. We will have to then see whether we get a further rise to 1.63 or not.

Some strength for the Dollar came in against the Yen (108.14), as Dollar-Yen rose after a false dip to 107.69. The 107.80-70 region offers intra-day Support now and a test of 108.50 could be possible, which would challenge our bearishness from yesterday. Should the Nikkei (15541, +1.38%) manage to rise past the 15600 Resistance mentioned yesterday, it would help Dollar-Yen move up as well. Watch this.

The EUR-JPY Cross (137.75) is close to testing our Resistance target at 138 and could take a pause there for a while.

The Aussie (0.8867) is close to testing the upper end of the 0.8650-8900 range mentioned yesterday and has greater chances of falling back towards 0.8775 and lower, within the range. Sideways trade could last for some more days.

Finally, Dollar-Rupee (61.325) is likely to remain quiet today as well, between 61.10-55, as mentioned yesterday. Note, we think 61.10 is going to be a strong enough Support.

Markets await the FOMC tonight. Importantly, the US 2Yr (0.42%) has risen well from the 0.38% earlier. Yields are slightly higher generally, but still below important Resistances like 2.35-40% on the 10Yr and 1.56% on the 5Yr. The wordings of the FOMC statement will be important as it tries to balance the end of QE with overall dovishness.

The German-US Spreads (2Yr -0.47%, 10Yr -1.41%) have dipped a bit more yesterday, not supporting the rise in the Euro (1.2738) seen last night. The US-Japan 10Yr spread (1.83%) tests Resistance as mentioned yesterday, not really supporting a further rise in the Dollar-Yen (108.14). A fresh dip in the Spread from here could pull Dollar-Yen down with it again. Let us see. Interesting play going on here.

In India, the 10Yr GOI (8.322%) trades just above 8.30% and seems to be itching to test 8.25%. FIIs are buying debt, so pressure would be mounting on the RBI to cut rates.


18:00 GMT or 23:30 IST US FOMC Meeting
...Expected <0.25% ...Previous <0.25 %


US Durable Goods Orders
...Expected 0.40 % ...Previous -18.34 % ...Actual -1.32 %

US Case Schiller
...Expected 5.70 % ...Previous 6.75 % ...Actual 5.57 %

US Cons Conf
...Expected 87.40 ...Previous 89.00 ...Actual 94.5






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