User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday November 12, 2014 - 03:28:25 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 12-Nov-2014 -0328 GMT

GOOD MORNING!

STOCKS
The momentum in 
Dow 30 (17,614.90, +0.01%) has drained away considerably as it tries to consolidate. However, the narrow range candles (Doji) could point to some increased risks of down move. Above 17,620, we expect to see 17,780 and 17,910, while 17,480 and 17,400 are the supports.

Nikkei (17,404.04, +1.64%) rose to retouch the early Nov 3rd top at 17,400 before cooling off. Triggers were further Yen weakening to new lows of 116.10 against Dollar and possible postponement of the Japanese sales-tax hike. For the day, 17,240 and 17,100 is the support and 17,444 the top is the resistance.

Dax (9,369.03, +0.18%) is looking the weakest among major indices. Its lack of trend in crossing the resistance of 9300 and its continuing trading below the key pivotal of 9,700 while other markets make new highs correspond to larger weakness in-line with long term chart formations. For long term traders, Dax would be a good sell at these levels with stops above 9700-9800, a risk of 3.6%, for a gain of well in excess of 10%.

Shanghai (2,478.02, +0.3%) fell just short of our first target at 2,515, and retrace to 2,450. In short term, we expect the current bounce from 2,450 to hold and reach 2,508 and 2,515 and cross these levels.

Nifty (8,362.65, +0.22%) has moved to the higher end of the range (8290-8380). Markets will be focused on CPI, expected at 5.8%, which is lower than 6.4% in previous reading.

COMMODITIES
Dollar trades flat in early Asian trade. Consolidation within long term downtrend continues in Precious metals. 

Gold (1165.88) is trading flat to positive below resistance levels of 1190-1200. Bearish tone may remain subdued because of muted U.S Dollar Index. Our downside target of 1110 is still valid, so beware on rise towards 1200 levels. Silver (15.71) is trading flat below 15.90. Technical bias favours the long term bears. Hence, we maintain our down side target of 14.60 with a resistance placed at 15.80-90 levels. 

Nymex WTI (77.55) has been oscillating in the tiny range of 75-80 levels since last 4-5 sessions. No major change has occurred in prevailing down trend. So, down side technical target of 74-75 is intact. Huge supply pressure on each leg of rise in Brent (81.30) would restrict the upside till 82-84 levels. 79 remains our immediate downside target. 

Technical bias still favours the 
Copper (3.0275) down trend, with no structural change in it. 3.05-3.10 are the resistance levels and 2.95 is to be considered as the major support.

FOREX
Euro (1.2463) has formed positive divergences on the charts which is supporting the prices. However, 1.2580-1.2600 would be a strong resistance and is unlikely to be crossed on such short-term basing formation. A drop below 1.2400 would indicate reversal to 1.2350 and to newer lows.

Dollar-Yen (115.43) continued its trend and touched new highs. We expect the market to consolidate around 114.00-116.50 over next few days. 

Pound (1.5910) has also bounced from 1.5780s. In the long run, as long as the key pivot of 1.5725 holds, the larger trend for Pound remains bullish and hence would have better payoff if Dollar starts to decline. In short term however, market is likely to front-run the supply zone of 1.600-1.6200 around 1.5950s. 

Aussie (0.8689) has bounced back to the bottom of trading range (0.8850-0.8680) where it has some serious resistances. We don't expect it turn bullish anytime soon. For the very short term, Aussie is likely to be stuck between 0.8750-0.8600. Break below 0.8600 would initiate fresh down trends targeting 0.8450.

Dollar-Rupee (61.55) market will be keenly watching CPI numbers. Further trend should arise out of this number, especially an outlook on interest rates. In short term, resistance is seen at 61.75-80 area, we expect this resistance to hold and can be sold into.

INTEREST RATES
The US was closed for Veterans Day yesterday. The 10Yr had closed near 2.36% on Monday.

The KSHITIJ E-4 10Yr Composite yield (1.1005%) has dipped a wee bit from 1.1162%. We see chances of 1.02% in the coming days. Have to see if we get a bounce from there or not. The 
German10Yr (0.826%) has dipped from 0.842% the day before, in an overall downtrend. The target level of 0.65% mentioned yesterday may have been wrong though. A level of 0.75% would be more correct. 

We had pointed out that the Japanese 5Yr and 10Yr were trading at important long-term horizontal trendline Supports. Both have bounced a bit. The 5Yr is up from 0.1415% to 0.1515%. The 10Yr is up from 0.5065%. Now we have to see whether the bounce sustains or not. A rise past 0.52-0.56% on the 10Yr would be a big thing. Keeping an eye on that.

The Indian 10Yr GOI (8.1859%) had inched up a bit yesterday. We are watching Support at 8.15%. The market would be looking for a confirmation of its Inflation optimism. The Oct-14 CPI needs to substantially lower that the Sep-14 CPI of 6.46% to bring in further cheer. The market expectation is already a very low 5.8%. Beating that might be a tall order.

DATA TODAY



9:30 GMT or 15:00 IST UK Unemp 
...Expected 5.90 % ...Previous 6.00 % 

10:00 GMT or 15:30 IST 
EU IND Prodn (MoM) 
...Expected 0.6 % ...Previous -1.8 % 

12:00 GMT or 17:30 IST IN IIP 
...Previous 0.40 % 

12:00 GMT or 17:30 IST IN CPI 
...Previous 6.46 


DATA YESTERDAY

IN Trade bal 
...Previous -14.3 $ Bln

 

 

 

 

 

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