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    Member GDMFX is an unknown quantity at this point GDMFX's Avatar
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    FOREX NEWS: MARKETS IN RANGE-MODE. BREAKOUTS NEEDED TO CONFIRM NEXT DIRECTION


    EUR/USD


    Forex News: Friday’s price action was choppy, with a slightly bullish bias; resistance was touched but the pair lacked the determination to break it. The U.S. Consumer Sentiment survey came out better than anticipated but this only created a brief US Dollar reaction.



    Technical Outlook

    Price is drifting between support and resistance without conviction and without a clear bias. The 50 period Exponential Moving Average is mostly flat (very slightly angled downwards), thus confirming that the market lacks proper direction. Today we expect mostly a ranging session, but the US Dollar looks weak, affected also by political unrest in the U.S., so a break of 1.1775 may trigger additional upside but to a limited extent. To the downside, 1.1713 – 1.1700 remains a strong support zone, which we don’t expect to be broken today.

    Fundamental Outlook

    The Dollar and Euro both have a lacklustre economic calendar for today, so the technical aspect will be the deciding factor for the pair’s direction.


    GBP/USD

    The pair showed some big swings Friday, breaking resistance first, then support, only to finish the week in the middle of the horizontal channel. The U.S. Consumer survey had a positive impact on the greenback but the effect was soon nullified.



    Technical Outlook

    Price is trapped inside the horizontal channel created by 1.2900 resistance and 1.2850 support. Until we see a clear and strong breakout, the pair will probably show back and forth movement, inside the range. Both oscillators are lacking momentum, thus they are not showing a clear signal, but the 50 EMA is angled down and this tilts the balance slightly towards the bears.

    Fundamental Outlook

    The United Kingdom hasn’t scheduled any economic data release for today and this fact will probably contribute to a slow trading session.
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  3. #432
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    bilkul ap ka introduction bohat acha ha lekin zaida trader un brokers ko choose kartey ha jin ko in ka janney walay use kar rhy ho kio ka jo broker kisi ne use na kia ho us pa trader kam hi kam kartey ha is liye ap ki company ko abhi promotion ki zaroorat ha

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  5. #433
    Member GDMFX is an unknown quantity at this point GDMFX's Avatar
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    FOREX NEWS: BREAKOUTS UNDERWAY, BULLS PUSH HIGHER


    EUR/USD


    Forex News: The Euro spiked higher yesterday afternoon and the pair moved above the 50 period Exponential Moving Average and broke the resistance at 1.1775. The move was mostly technical because no major economic data was released.



    Technical Outlook

    The move above 1.1775 resistance marks the end of the consolidation phase that the pair was in and makes the short term outlook bullish. If the pair remains above 1.1775, we expect to see a move that will have 1.1840 as target but it is very likely to see a re-test from above of the recently broken level (price returns to touch the level and then bounces higher). The two oscillators show good upwards momentum, thus increasing the probability of a climb to 1.1840.

    Fundamental Outlook

    The German ZEW Economic Sentiment is scheduled at 9:00 am GMT and will be today’s highlight for the Euro. This survey shows the opinions of about 275 German professional investors and analysts regarding their 6-month outlook for the economy and acts as a leading indicator of optimism. Today’s forecast is 15.3, a drop from the previous 17.5.


    GBP/USD

    Yesterday’s session was mostly bullish and the pair climbed after another perfect touch of 1.2850 support. At the time of writing the horizontal channel created by 1.2850 and 1.2900 is broken so the pair seems to be out of the ranging phase.



    Technical Outlook

    Price is rapidly approaching the 50 period Exponential Moving Average, which is an important hurdle and if it can be surpassed, we will most likely see an extended move to the upside. Immediate resistance will be represented by 1.2930, followed by 1.2950 but if price bounces at the 50 EMA is, we will probably see a return inside the horizontal channel and more ranging movement will follow.

    Fundamental Outlook

    At 8:30 am GMT the British Public Sector Net Borrowing is released, showing the difference between spending and income for the government and public corporations. A positive number indicates deficit and a higher number means a bigger deficit, so lower numbers usually strengthen the Pound. Today’s forecast is 0.4 Billion, lower than the previous 6.3 Billion.
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