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Thread: Hot Forex - Market Analysis and News.

  1. #43
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    Date : 7th August 2015.

    CURRENCY MOVERS OF 7th August 2015.




    EURUSD, Daily

    EURUSD price continues to contract and trade within a narrow three day range ahead of todays U.S. Nonfarm payrolls economic data release. The Bollinger band EURUSD trend analysis on the daily chart indicates that volatility is narrowing, which is typical before the release of a major economic report. Price over the last three trading sessions has stayed below the 20 period simple moving average, however, a bullish cross is observed within the Stochastic Momentum Oscillator indicator. The fact that price remains well contained within the multi-week downward moving channel and the bullish cross observation that has accrued below the Stochastic 20 level indicates oversold market conditions in the short term.

    The Bank of Englands first Super Thursday sent Sterling down sharply; the BoE left monetary policy unchanged. The BoE is slowly preparing for the first rate hike, however, they are in no rush to move. The GBPUSD closed sharply lower for the day down around 170 pips from the days high in the wake of the days heavy GBP economic calendar.

    The USD backed off during N.Y. trade on Thursday after decent weekly jobless claims gave the USD some early support. Real U.S. GDP grew 2.3 percent in the second quarter, according to the advance estimate from the U.S. Bureau of Economic Analysis. Asian stock markets were mixed in overnight trade, with China and Japan up. The Bank of Japan left policy unchanged, as widely expected.



    Currency Pairs, Grouped Performance (% change)

    The new Currency Movers Charts show the percentage change from previous days close to the current moment against the other major currencies.

    The GBP is trading lower against the majors after the BoE highlighted that its in no rush to raise rates. The AUD is trading higher as the BoA remains upbeat about the domestic economy, and demand for Australian commodities seems to be improving.

    Significant daily support and resistance levels for these pairs are:



    Main Macro Events Today

    USD Nonfarm Payrolls: July nonfarm payrolls are expected to increase by 215k, with a 205k private payroll gain. The market risk if payrolls are downward, could impact the timing of rate hikes. If upward, should provide some tail wind.

    USD Unemployment Rate: The unemployment rate is expected to hold steady at 5.3% from June.
    The workweek is expected to hold at 34.5 for a fifth month.

    CAD Net Change in Employment: Employment is expected to rise 10.0k in July after the 6.4k drop in June.



    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full Hot Forex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    John Knobel
    Senior Currency Strategist
    Hot Forex


    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  2. #42
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    Date : 6th August 2015.

    CURRENCY MOVERS OF 5th August 2015.




    EURUSD, Daily

    EURUSD has a short term support level near the 1.0850’s and resistance levels around 1.0990’s – 1.1020’s. The short term trend is now negative, and trading in line with the ECB’s dovish position to increase the supply of EURs on the market. Short term EURUSD traders may look to re-sell into strength if prices extend past the 1.0990’s – 1.1020’s resistance levels, ideally between the 1.10’s – 1.1050’s for a 1.0750’s price target.

    Further negativity on the EUR comes from the much weaker than expected Eurozone retail sales, which fell 0.6% m/m, keeping the euro under pressure, offsetting an upward revision in final Eurozone services and composite PMI survey data for July. The fact that both the U.S. and the U.K. are seeking to raise their rates is giving traders enough reasons to support both the US dollar and the British pound, adding to EUR selling pressures.

    On Wednesday, the U.S. ADP employment report missed expectations; however, the July services ISM posted a 10-year high. The EURUSD rallied to session highs around 1.0930 after the employment data, and then fell to session lows near 1.0850 following the ISM outcome.



    Currency Pairs, Grouped Performance (% change)
    The new Currency Movers Charts show the percentage change from previous day’s close to the current moment against the other major currencies.

    The AUD is trading lower against the majors as commodity prices have been weakening. CFTC data also reports that net speculative short positions have increased for the AUD. The USD, EUR, GBP and JPY are all trading mixed as traders await GBP data.

    Significant daily support and resistance levels for these pairs are:



    Main Macro Events Today

    • GBP BoE Interest Rate Decision: The central bank is widely expected to leave the repo rate at 25 bp. Today is the inaugural BoE “Super Thursdays”‘, which will include the instant-release of the MPC minutes and the latest Quarterly Inflation Report. Governor Carney will also lead a one-hour press conference. The minutes will likely reveal a hawkish shift at the BoE, with MPC members Weale and McCafferty seen resuming their vote in favour of a 25 bp rate hike (having voted for this between August and December last year), though still be outvoted by 7 to 2. Carney will likely maintain that the next move will be a hike, but still present a relatively balanced view in line with market expectations for tightening to start in February next year. The BoE is also likely to trim near-term inflation forecasts given sterling’s trade-weighted strength, the recent decline in oil prices, and signs that productivity is improving, though at the same time is likely to flag upside risk further down the track.



    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full Hot Forex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    John Knobel
    Senior Currency Strategist
    Hot Forex


    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  3. #41
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    Date : 5th August 2015.

    CURRENCY MOVERS OF 5th August 2015.




    EURUSD, Daily

    EURUSD, closed sharply lower on Tuesday in the wake of fresh comments from the U.S. Feds Lockhart who suggested that upcoming U.S. economic data would have to disappoint significantly to get the FOMC to delay a tightening in September. The market reacted to the hawkish comments with the fresh buying of U.S. dollars, accelerating the downward pressure on the EURUSD pair. Now that the EURUSD has broken through the support turned resistance area of the 1.0920s, and the fact that price has failed to hold a new higher low above the 1.1120.s, as well as, bearish momentum oscillator analysis, this leads me to hold firm my view that EURUSD prices will continue to trade firmly lower within the multi-week downward price channel towards my target area near the 1.0750s over the coming days.

    As the interest rate spread between the USD and the GBP against the EUR widens, and the expectation that the U.S. and the U.K will begin to raise rates, further supports the buying interest in the U.S. dollar and the British pound in the near term. Traders should also take note of the recent hawkish comments from the BoE and the Fed board members who have been dropping clues of pending rate hikes.

    The AUD made a large move on Tuesday following better than expected trade and retail sales data, and then a change in language in the RBA statement following the anticipated decision to leave the cast rate at 2.0%. The Board said in its statement that the Australian dollar is adjusting to the significant declines in key commodity prices. The AUDUSD rallied nearly 165 pips on the statement.



    Currency Pairs, Grouped Performance (% change)

    The new Currency Movers Charts show the percentage change from previous days close to the current moment against the other major currencies.

    The GBP is trading higher against the majors as the latest PMI data continued to show solid growth. The AUD is retracing lower after yesterdays strong advance.

    Significant daily support and resistance levels for these pairs are:



    Main Macro Events Today

    EUR Services PMI: The services reading was revised to 53.9 from 53.8 and the composite to 53.9 from 53.7. Overall, the Eurozone economy is so far showing resilience and data is consistent with the ECBs assessment that economic activity continues to broaden.

    USD ISM Non-Manufacturing: July service sector producer sentiment is out on later today and should reveal a 56.0 (median 56.2) headline for the month, steady from June. Other measures of producer sentiment for the month have been mixed but should allow the ISM-adjusted average for July to maintain the increase to 53 that we saw in June.



    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full Hot Forex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    John Knobel
    Senior Currency Strategist
    Hot Forex


    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  4. #40
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    Date : 4th August 2015.

    CURRENCY MOVERS OF 4th August 2015.




    EURUSD, Daily

    EURUSD, continues to trade within a multi-week downtrend; this is confirmed by the fact of lower tops and bottoms on price. The failed attack on the 31st of July to break above the 1.1120s also supports the view that the bears are in control of the medium term EURUSD market. However, for the moment, price seems to be consolidating between a tight range within the 1.0920s and 1.0970s with traders seeking direction from the U.S. NFP release, due out on Friday. Technically, I would like to see price hold above the 1.0810s 1.0920s after the upcoming NFP release for a potential short term price recovery to re-visit the 1.1220s, before resuming the multi-week downtrend to reach my target price near the 1.0750s.

    The EU Outlook was revised down to negative from stable by S&P. The ratings agency is worried about the EUs continual use of the balance sheet to provide higher risk financing to members without the members paying in capital.

    The U.S. Market ISM manufacturing index inched up to 53.8 in July, from a 20-month low of 53.8 in June. This is the first pick up in manufacturing activity since March, but is the slowest pace of purchasing activity in 18 months. U.S. personal income rose 0.4% in June with spending up 0.2%, a little better than forecast; however, Mays 0.5% income gain was revised down to 0.4%.



    Currency Pairs, Grouped Performance (% change)

    The new Currency Movers Charts show the percentage change from previous days close to the current moment against the other major currencies.

    The AUD is trading firmer against the majors on the back of a RBA statement that droped the call for more depreciation.

    Significant daily support and resistance levels for these pairs are:



    Main Macro Events Today

    GBP PMI Construction: Unexpectedly declined to 57.1 in July from Junes 58.1. The median forecast had been for an improvement to 58.5. At 57.1, the survey still points to continuing robust expansion in the sector, while incoming mortgage and house price data suggest that underlying conditions remain solid.

    USD Factory Orders: The forecast calls for a 0.8% increase from the previous -1.0%.



    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full Hot Forex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    John Knobel
    Senior Currency Strategist
    Hot Forex


    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  5. #39
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    Date : 3rd August 2015.

    CURRENCY MOVERS OF 3rd August 2015.




    EURUSD, Daily

    EURUSD, continues to seek support from buyers as price remains above the downward channel line. The EUR found support around the 1.0920s, as the USD dropped on Friday following weaker than expected U.S. Q2 ECI data. In my July 29th analysis, I reported that EURUSD price may return towards the 1.0970s, before flipping to the long side for a re-test of the 1.1120s. The fact that recent price action has exceeded the 1.0970s to test and establish a higher low at 1.0920 from the July 20th low of 1.0808, opens up a renewed recovery towards the July 27th 1.1120s resistance area. Price may now attempt to extend the recovery to the 1.1220s before resumption of the multi-week decline.

    Friday saw better EU inflation data as inflation remained stable at 0.2%, although, it was weaker than U.S. employment data, which sent the EURUSD sharply lower. The move was seen by the market as overdone and the EURUSD quickly made it back to test the 1.10s.

    The U.S. Fed funds median still shows a 25 bp rate hike in September, Key reports are on tap this week, including payrolls, PMIs, income, and spending.



    Currency Pairs, Grouped Performance (% change)

    The Currency Movers Charts show the percentage change from previous five day close to the current moment against the other major currencies.

    The GBP is trading firmer against the majors on the back of accelerating UK GDP data.

    The CAD trades lower against most pairs, as Canada missed GDP expectations.

    Significant daily support and resistance levels for these pairs are:



    Main Macro Events Today

    UK Manufacturing PMI: There is downside risk after last weeks July CBI industrial trends survey unexpectedly declined to a -10 in the realized sales reading, which was the weakest since July 2013, reflecting the UK manufacturing sectors sensitivity to the prevailing trade-weighted strength of the pound.

    USD Manufacturing PMI: July ISM will be released today and its expected that the headline to remain steady at 53.5 (median 53.8) for a second month.



    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full Hot Forex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    John Knobel
    Senior Currency Strategist
    Hot Forex


    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  6. #38
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    European stocks rose slightly yesterday and futures are pointing to a higher opening today, while core bond yields rose and peripheral yields declined following greece's formal request for a 3year ESM loan program. The details of the promised reform plans were once again missing though and the risk is another setback, If today's reform list once again falls short of expectations

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  7. #37
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    thanx for sharing this type of informative posts... newbies and i will be very thankful to you.. you have done a gr8 job by sharing this thing with us.. you know what.. i really appreciate u for this..

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  8. The Following User Says Thank You to Qurat For This Useful Post:

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  9. #36
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    Date : 29th July 2015.

    CURRENCY MOVERS OF 29th July 2015.


    EURUSD, Daily

    EURUSD, Since the recent advance through the upper daily chart channel line was penetrated, and the fact that price remains within a 12 month decline, a further corrective bounce for medium term traders towards the 1.1220’s should not be ruled out. We will likely witness a potential breakdown back towards the 1.0870’s, ahead of my longer term price projection near the 1.0750’s. Swing traders with a short term view may look for price to return towards the 1.0970’s before flipping to the long side for a retest of the 1.1120’s.

    The EUR has been trading off of the back of positive data this week, as German business and consumer confidence data came in firmer than expected; earlier today the German July Gfk held unchanged from June at 10.1. The consensus had been for a slight dip, to 10.0. High employment and expectations for higher pay underpinned the report. The EURUSD price advanced from Monday’s solid German Ifo results may consolidate ahead of today’s U.S. FOMC Statement.

    Traders are waiting on the FOMC in the U.S., which concludes its two-day meeting today. No surprises are likely, and while the overall tone is expected to be more upbeat than the previous FOMC in June, the Fed is not likely to commit to a September rate lift-off. This is due to key data releases, concerns about China’s financial markets and Greece, and given recent oil price declines.

    Currency Pairs, Grouped Performance (% change)

    The new Currency Movers Charts show the percentage change from previous day’s close to the current moment against the other major currencies.

    The GBP is trading firmer against the AUD, CAD and the NZD after better than forecast GBP Net Lending to Individuals’ data were released today.

    The AUD and the CAD trade lower against most pairs, as commodity prices continue to seek a bottom.

    Significant daily support and resistance levels for these pairs are:

    Main Macro Events Today

    EUR Gfk German Consumer Climate : The July Gfk consumer confidence came in firmer than expected, holding unchanged from June at 10.1,though concerns about Greece’s potential impact on the German economy remained a negative, according to Gfk.

    USD FOMC Statement: No surprises are likely, and while the overall tone is likely to be more upbeat than the previous FOMC in June, it’s widely anticipated that the FOMC will be moderately net bullish for the dollar.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.

    John Knobel
    Senior Currency Strategist


    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  10. #35
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    Date : 27th July 2015.

    CURRENCY MOVERS OF 27th July 2015.


    EURUSD, Daily

    EURUSD price, at the time of writing, price has penetrated the higher channel line within the above daily chart to clear the higher end of the 1.1080s resistance levels. When a market has a breakout, we look for it to make an initial move beyond nearby support and resistance. Those traders that have been following my daily analysis of the EURUSD, would not be surprised by the recent surge in price, as I have been writing about the possibility of the pair printing out a new lower top below the 1.1220s within the above chart downward price channel. I now remain on the watch for a breach above the 1.1210s 1.1220s area for clues of a daily chart trend reversal, otherwise I would expect for price to halt its three month corrective bounce and resume its move lower towards a retest of the 1.0870s with the possibility of reaching my 1.0750s target area.

    The EUR received a boost in early European market trading as the German July Ifo Business Climate unexpectedly bounced back with the overall reading rising to 108.0 from 107.5 in the previous month. The expectations reading rose for the first time since March and it seems the Greek bailout deal has boosted future optimism. The retail trade index meanwhile fell back slightly, as did the construction index. All in all, a positive number, which together with the effective stabilization in German ZEW and PMI readings confirms that the German economy remains on track.

    Traders should expect further EURUSD price action later today as the U.S. June Durable Goods Orders are due. June durable goods orders are expected to grow by 2.0%., Shipments and Inventories are expected to remain unchanged.

    Currency Pairs, Grouped Performance (% change)

    The new Currency Movers Charts show the percentage change from previous days close to the current moment against the other major currencies.

    Over the last five trading days the EUR is trading higher across the board. The AUD remains weaker across the board against most pairs, while the JPY is stronger against the AUD.

    Significant daily support and resistance levels for these pairs are:

    Main Macro Events Today

    EUR Eurozone M3 money supply: growth steady at 5.0%, against expectations for a marginal acceleration in the annual number. The three months moving average, the ECBs preferred target, moved up to 5.1%, clearly above the reference value of 4.5%, although with the ECB focused on loan growth and headline inflation, M3 data has effectively been de****ed in its importance for monetary policy decision.

    U.S. Core Durable Goods Orders: Forecast risk: upward, as there was an increase in Boeing orders in June. Market risk: downward, as weaker data could impact rate hike timelines.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.

    John Knobel
    Senior Currency Strategist
    Hot Forex


    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

    ---------- Post added 07-28-2015 at 09:21 AM ---------- Previous post was 07-27-2015 at 11:06 AM ----------

    Date : 28th July 2015.

    CURRENCY MOVERS OF 28th July 2015.


    EURUSD, Daily

    EURUSD price, after breaking out of the six week downward sloping price channel, looks set to continue to bounce off of Mays low at 1.0820. Price action during Mondays trading sessions was supported by the German Ifo report; the market viewed the results as strong enough to allow the pair to confirm a new short term resistance level at 1.1129. Technically, I now seek a return move towards the previous days low near the 1.0970s, before we see a retest of the 1.1120s.

    The euro outperformed as more Grexit risk premium was unwound. Further, the July German Ifo survey beat expectations and boosted EUR longs. Market participants, as it seems, are adjusting expectations on the performance of the Chinese economy as the Chinese stock market closed down 8.5% on Monday. It is yet to remain seen, if the Chinese slowdown is a domestic issue or if it will spread into the global economy.

    The dollar shrugged off the better durables report, which was beefed up by Boeing orders. The U.S. Dallas Feds manufacturing index improved to -4.6 in July versus -7.0 in June. Its been in negative territory for 7 straight months given the regions exposure to the oil recession.

    Currency Pairs, Grouped Performance (% change)

    The new Currency Movers Charts show the percentage change from previous days close to the current moment against the other major currencies.

    The GBP is trading firmer against the EUR and the JPY ahead of the GBP GDP data.

    The JPY trades lower against most pairs, as the USDJPY recovered most of the losses from yesterdays decline.

    Significant daily support and resistance levels for these pairs are:

    Main Macro Events Today

    GBP Prelim GDP: Preliminary Q2 GDP data is expecting a 0.7% q/q rise, up from 0.6% in Q1, With robust growth the BoE can afford to lay the ground for rate hikes ahead and a recent Bloomberg poll suggests that most economists expect the first MPC members to start voting for a hike next month.

    USD CB Consumer Confidence: The July consumer confidence is out later today and should reveal a decline to 100.0 (median 100.0) from 101.4 in June. This would come along side a decline in Michigan Sentiment to 93.3 in the first July release from 96.1 in June. The IBD/TIPP poll for the month managed to hold steady at 48.1 for a second month.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.

    John Knobel
    Senior Currency Strategist
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    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    Member jutt333 is an unknown quantity at this point jutt333's Avatar
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    Forex min ap ko market ke bre min bot se analysis mil jian ge jis ki mada se ap ko trading ko kirn asan ho jiae ga as lia ap ko difrent sites mill jian ge

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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