"FX Set-up: The FOMC On Deck
We’ve seen a reversal of fortune for the USD overnight, with a sell off against most of the majors. Considering the price action of the past two days though, this seems to be more of a…Continue
Added by Daologic on October 30, 2013 at 11:44am — No Comments
"From the Spot Desk
Further Canada weakness was…Continue
Added by Daologic on October 30, 2013 at 11:06am — No Comments
"(...) The FOMC meeting today no longer holds much suspense for the markets. The weak September jobs data has been followed by mixed real sector data and lower than expected PPI readings, so we see little risk of the Fed changing its messaging at this meeting. We believe the dollar’s recent gains will most likely start to erode after the Fed delivers a “steady as she goes”…Continue
Added by Daologic on October 30, 2013 at 11:02am — No Comments
The USD is not showing any clear direction for the near-term. Most of the pairs are very slow and sideways. On EURUSD we however still anticipate a reversal to the upside, but would need to see an impulse up to 1.3810 to make sure that correction is complete.
Added by Gregor Horvat on October 30, 2013 at 10:30am — No Comments
GBPUSD: Continued weakness saw GBP extending its corrective pullback on Tuesday. This leaves the risk of further downside on the cards. Support lies at the 1.6000 level followed by 1.5950 level and then the 1.5900 level. Further down, support lies at the 1.5850 level and next the 1.5800 level. Conversely, resistance resides at the 1.6115 level where a violation will aim at the 1.6246 level. A breach of here will resume its medium term uptrend. Further out, resistance resides at the 1.6300…Continue
Added by fxtech on October 30, 2013 at 9:29am — No Comments
Recommendations: SHORT positions around 1.3770 with 1.3735 & 1.3685 as next targets.
Alternative scenario:The upside breakout of 1.3809 will call for a rebound to 1.3870/935 .
Description:With the key resistance 1.3770/1.3809 intact , further downside is suggested , stability below 1.3740 will add pressure on the 1.3685 ahead of the 1.3650 levels.On the upside ; to resume its upside offensive , the pair needs to break and hold…
Added by Haitham653 on October 30, 2013 at 9:03am — No Comments
Added by Carol Harmer on October 30, 2013 at 8:44am — No Comments
Added by Jason Sen on October 30, 2013 at 8:35am — No Comments
MARKET UPDATE 30.10.13
EUR/USD: Sell Below 1.3750, TP1.3725, SL1.3780,BOB1.3790
GBP/USD: Buy above 1.6040,TP1.6067/90,SL1.6020,BOS1.6015
GOLD: Buy above 1342,TP1350/55,SL1340,BOS1337
CL: Sell below 97.90,TP97.50/20,SL98.30,BOB98.40
USD/JPY: Buy above 98.10 ,TP98.45/60 ,SL97.85 ,BOS,97.75
US ADP Non-Farm Employment Change at 5.15pm, Core CPI m/m 5.30pm, FOMC Statement at 11 pm
BOB stands for break…Continue
Added by Usman Ali on October 30, 2013 at 6:51am — No Comments
EUR made another unsuccessful upside attempt yesterday, and then some profit taking moved the price to the support 1.3740, where it is currently trading. I think FED will not start tapering on today's meeting because the economic situation is still difficult, we saw bad data from the US yesterday too, and we have to remember also the recent shutdown which also will have a negative reflection at the economy. But FED may do a suprise,sowe have to keep this in mind on every meeting from now on.…Continue
Added by Vladimir Mihaylov on October 30, 2013 at 6:40am — No Comments
"EURUSD BULLISH The recent setback is staged from the critical resistance
at 1.3833. This move lower is viewed as a correction within a bullish
trend and downside will be limited. Support is at 1.3695 ahead of
USDJPY NEUTRAL Resistance is at 99.07, a break above which would open
100.61. Support is at 97.46 ahead of 96.57.
GBPUSD BULLISH The latest weakness does not change the broader bullish
picture. Any further downside should find strong support at…
Added by Daologic on October 30, 2013 at 6:35am — No Comments
"(...)The spread in Spanish 10 year yields over German bunds fell to a 2yr low. Spanish retail sales rose 2.2%y/y, the first annual rise since June-2010. Irish 10 year yields fell 0.6bp, but are down by around 40bp over the last month. Irish property prices rose 3.6%y/y, the biggest gain since 2007. Confidence in the European periphery remains firm. The chart below shows the spreads over bunds for periphery yields.
ECB member Nowotny said he did not see a "realistic perspective"…
Added by Daologic on October 30, 2013 at 5:25am — No Comments
The AUDUSD continued its bearish momentum yesterday , printed a new resistance at the 0.9574 levels and new support at the 0.9471 levels. On the downside. stability below the 0.9574 levels on a daily basis will keep the pair under pressure , losing 0.9471 would open the 0.9387 levels ahead of the 0.9280 levels, below 0.9280 will target 0.9115 ahead of 0.8971 levels !
On the upside. resistance comes at the 0.9574, break of this level on a daily basis would target the 0.9757…
Added by Haitham653 on October 30, 2013 at 5:24am — No Comments
*** Intra-Daily Trading Strategy: BUY Euro Dollar / US Dollar
Buy Target: 1.3747
Buy Stop: 1.3722
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING…Continue
Added by Martin Kay on October 30, 2013 at 5:08am — No Comments
BlackRock Inc Chief Executive Officer Laurence D. Fink, whose company is the world’s largest money manager with $4.1 trillion in assets, said Federal Reserve policy is contributing to “bubble-like markets.”
For more click on the fire !
Added by Ron Schelling on October 29, 2013 at 7:23pm — No Comments
GOLD: The commodity continues to hold on to its recovery higher but may have run into the bears as price hesitation has set in. However, it will have to retake the 1,375 levels to prevent risk of a return to the downside. In case this occurs, support lies at the 1,240.00 level with a turn below here shifting attention to the 1,215.00 level and next the 1,180.00 level. Conversely, resistance lies at the 1,375 level where a breach will target the 1,399.79 level. A cut through here will open…Continue
Added by fxtech on October 29, 2013 at 5:55pm — No Comments
Ahead of the FOMC tomorrow, it can be difficult to know what to trade, and what to avoid. For eurusd, price action has been a bit frustrating with the pair having moved off support at 1.3750 earlier this afternoon and now trading between 1.3785 and resistance at 1.3810.
However, there has been a nice trade in the euraud, which brings me to my tip. If you are only focused on eurusd - it is useful to have charts open of other euro pairs (and not just the eurjpy). What this achieves is a…Continue
Added by Anna Coulling on October 29, 2013 at 3:37pm — No Comments
Last Thursday the US dollar fell to a two-year low against the Euro on growing expectations that the US Federal Reserve will continue bond purchases next year and that there will be no tapering in 2013. However, recent European data has been weak with European growth figures, unemployment and European PMI figures weaker than expected over the last couple of weeks. With European data so weak, it seems unjustifiable that 1.38 USD are needed to buy one…Continue
Added by Ronnie Chopra on October 29, 2013 at 1:37pm — No Comments
"Open 1.0429 Range 1.0431/1.0455 Previous Close 1.0445
The CAD is the marginal top performer among G10…Continue
Added by Daologic on October 29, 2013 at 1:09pm — No Comments
Currently we are at 94.93 after the break of the day chart trend line. We are looking for a continuation to the 0214 Fibo area @ 0.9444 and 2) the next target the S5 wave target @ 0.9384. The average daily true range (ATR) for the pair currently is 77 pips.…Continue
Added by Scott Barkley on October 29, 2013 at 1:07pm — No Comments