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Daily Market News By FXNET

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Re: Daily Market News By FXNET

Postby CommexFX » Tue Sep 30, 2014 8:10 am

Daily Outlook 30-09-2014
EUR/USD
The EUR rose 0.14% against the USD and closed at 1.2690.
On the macro front, consumer prices in Germany came in flat, on a monthly basis, in September, similar to an unchanged reading registered in the previous month. In other economic news, the Euro-zone’s economic sentiment indicator recorded a drop to 99.9 in September. In the US, pending home sales dropped 1.0% on a monthly basis in August, more than market. The pair is expected to find support at 1.2667, and a fall through could take it to the next support level of 1.2639. The pair is expected to find its first resistance at 1.2719, and a rise through could take it to the next resistance level of 1.2743.
Trading trends in the Euro today would be determined by the Euro-zone’s crucial CPI as well as unemployment data, scheduled in a few hours.
GBP/USD
The GBP rose 0.06% against the USD and closed at 1.6243.
Net consumer credit in the UK advanced by £0.9 billion in August, more than market expectations of £0.8 billion. It had risen by £1.1 billion in the previous month. Meanwhile, the number of mortgage approvals for house purchases in Britain dropped to 64.2K.
Overnight data indicated that, the Gfk consumer confidence in the UK eased to -1.0 in September. The pair is expected to find support at 1.622, and a fall through could take it to the next support level of 1.6187. The pair is expected to find its first resistance at 1.6281, and a rise through could take it to the next resistance level of 1.6309.
Trading trends in the Pound today would be determined by Britain’s crucial GDP figures.
USD/JPY
The USD weakened 0.06% against the JPY and closed at 109.40.
Earlier today, data indicated that unemployment rate in Japan unexpectedly dropped to 3.5% in August, registering a 16-year low, lower than market expectations to rise to 3.8% and following a similar level registered in the previous month. Meanwhile, industrial production in Japan unexpectedly eased 1.5% on a monthly basis in August, less than market expectations for an advance of 0.2% and compared to 0.4% rise registered in the previous month.
USDCHF
The USD declined 0.12% against the CHF and closed at 0.9511.The pair is expected to find support at 0.9485, and a fall through could take it to the next support level of 0.9464. The pair is expected to find its first resistance at 0.9531, and a rise through could take it to the next resistance level of 0.9556.
Trading trends in the Swiss Franc today is expected to be determined by Switzerland’s KOF leading indicator, scheduled in a few hours.
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Re: Daily Market News By FXNET

Postby orni308 » Fri Oct 03, 2014 11:15 am

GBPUSD had a very strong support level and there are chances it going further up, at these level it looks very good for making long trades.
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Re: Daily Market News By FXNET

Postby CommexFX » Tue Oct 07, 2014 7:51 am

Daily Outlook 7-10-2014
EUR/USD
The EUR rose 1.12% against the USD and closed at 1.2652. On the macro front, the Sentix consumer confidence in the Euro-zone eased for the third consecutive month in October to -13.7, registering its lowest level since May 2013. The pair is expected to find support at 1.2525, and a fall through could take it to the next support level of 1.2439. The pair is expected to find its first resistance at 1.2686, and a rise through could take it to the next resistance level of 1.2761. Trading trends in the Euro today are expected to be determined by Germany’s industrial production data, set for release in a few hours.
GBP/USD
The GBP rose 0.75% against the USD and closed at 1.6077.In economic news, new car registrations in the UK registered a rise of 5.6%, on an annual basis, in September. It follows an increase of 9.4% registered in the prior month. The pair is expected to find support at 1.5961, and a fall through could take it to the next support level of 1.5891. The pair is expected to find its first resistance at 1.6101, and a rise through could take it to the next resistance level of 1.6171. Trading trends in the Pound today would be mainly determined by the NIESR’s UK GDP estimate for the three months to September, scheduled later in the day.
USD/JPY
The USD weakened 0.90% against the JPY and closed at 108.82. The pair is expected to find support at 108.68, and a fall through could take it to the next support level of 108.14. The pair is expected to find its first resistance at 109.71, and a rise through could take it to the next resistance level of 110.21. Going forward, market participants await Japan’s leading economic as well as coincident indices data, scheduled shortly.
USD/CHF
The USD declined 0.97% against the CHF and closed at 0.9586. The pair is expected to find support at 0.9562, and a fall through could take it to the next support level of 0.9509. The pair is expected to find its first resistance at 0.9673, and a rise through could take it to the next resistance level of 0.9731.Meanwhile, investors would keep a close eye on Swiss consumer prices data, scheduled in a few hours.
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Re: Daily Market News By FXNET

Postby CommexFX » Thu Oct 16, 2014 8:59 am

Daily Outlook 16-10-2014
EUR/USD
The EUR rose 1.38% against the USD and closed at 1.2819. On the macro front, Germany’s final consumer price index advanced 0.8% on an annual basis in September, at par with market expectations. In the US, advance retail sales fell 0.3% on a monthly basis in September, exceeding market expectations for a fall of 0.1%. Separately, the Fed’s Beige book report indicated that the US economy would continue to grow at a modest-to-moderate pace with little sign of inflation and that the wage growth would remain modest. The pair is expected to find support at 1.2678, and a fall through could take it to the next support level of 1.2529. The pair is expected to find its first resistance at 1.2931, and a rise through could take it to the next resistance level of 1.3035. Trading trends in the Euro today are expected to be determined by the Euro-zone’s CPI data, scheduled in a few hours. Meanwhile, the Fed Chief, Janet Yellen’s speech as well as initial jobless claims data from the US would keep investors on their toes.
GBP/USD
The GBP rose 0.65% against the USD and closed at 1.5995, after the UK’s I-L-O unemployment rate dropped to 6.0%, marking its lowest level since October 2008. In other economic data, employment in the nation climbed by 46 K in August compared to an advance of 74 K jobs in the May-July period. Markets were expecting the economy to add 30 K jobs. The pair is expected to find support at 1.5889, and a fall through could take it to the next support level of 1.5783. The pair is expected to find its first resistance at 1.6085, and a rise through could take it to the next resistance level of 1.6175. Amid no economic releases from the UK today, investor sentiments would be governed by global macroeconomic news.
USD/JPY
the USD weakened 1.15% against the JPY and closed at 106.01. The Japanese currency gained ground after, Japan’s machine tool orders advanced 34.7% on an annual basis in September. Earlier today, the BoJ Governor, Haruhiko Kuroda reiterated that a weaker Yen is positive for the Japanese economy as it would help the nation’s exports to pick up. The pair is expected to find support at 104.97, and a fall through could take it to the next support level of 103.93. The pair is expected to find its first resistance at 107.29, and a rise through could take it to the next resistance level of 108.55.
USD/CHF
the USD declined 1.36% against the CHF and closed at 0.9416.
On the macro front, the ZEW survey revealed that the Swiss economic expectations index eased to a negative reading of 30.7 in October, compared to a level of -7.7 in the prior month. The pair is expected to find support at 0.9328, and a fall through could take it to the next support level of 0.9245. The pair is expected to find its first resistance at 0.9526, and a rise through could take it to the next resistance level of 0.9641.
Trading trends in the Swiss Franc today would be determined by Swiss SECO economic forecasts, scheduled in a few hours.
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Re: Daily Market News By FXNET

Postby CommexFX » Fri Oct 17, 2014 8:19 am

Daily Outlook 17-10-2014
EUR/USD
The EUR declined 0.07% against the USD and closed at 1.2810. In economic news, the Euro-zone’s consumer price index (CPI) rose 0.4% on a MoM basis in September, at par with market expectations. The US Dollar traded on a higher footing after the initial unemployment claims in the US surprisingly fell to 264,000 in the week ended October 11, marking its lowest level in 14-years. The pair is expected to find support at 1.2723, and a fall through could take it to the next support level of 1.2647. The pair is expected to find its first resistance at 1.2858, and a rise through could take it to the next resistance level of 1.2917. Meanwhile, investors await Michigan’s consumer confidence and housing starts data from the US, as well as the Fed Chief, Janet Yellen’s speech, scheduled later today.
GBP/USD
the GBP rose 0.67% against the USD and closed at 1.6102. Yesterday, the BoE Deputy Governor, Jon Cunliffe stated that new regulations governing banks and financial institutions must be applied consistently across the globe in order to avoid another banking crisis. The pair is expected to find support at 1.5977, and a fall through could take it to the next support level of 1.5874. The pair is expected to find its first resistance at 1.6147, and a rise through could take it to the next resistance level of 1.6214. Trading trends in the Pound today are expected to be determined by economic releases from other countries.
USD/JPY
the USD strengthened 0.40% against the JPY and closed at 106.44. Early this morning, the BoJ Governor, Haruhiko Kuroda expressed optimism on the country’s improving economy and reiterated that the central bank would continue with its quantitative easing policy until its inflation target of 2% is not achieved. The pair is expected to find support at 105.70, and a fall through could take it to the next support level of 105.1. The pair is expected to find its first resistance at 106.71, and a rise through could take it to the next resistance level of 107.11.
USD/CHF
the USD rose 0.08% against the CHF and closed at 0.9424. The Swiss Franc lost ground after Switzerland’s SECO downgraded the nation’s economic growth forecast for 2014 to 1.8% from its previous growth of 2.0%. The pair is expected to find support at 0.9394, and a fall through could take it to the next support level of 0.9356. The pair is expected to find its first resistance at 0.9481, and a rise through could take it to the next resistance level of 0.9530. Amid lack of economic releases from Switzerland today, investor sentiments would be governed by global macroeconomic news.
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Re: Daily Market News By FXNET

Postby CommexFX » Tue Oct 21, 2014 7:45 am

Daily Outlook 21-10-2014
EUR/USD
The EUR rose 0.44% against the USD and closed at 1.6158. In economic news, producer prices in Germany stagnated on a monthly basis in September, following a decline of 0.1% recorded in August. The ECB Vice President, Vitor Constancio stated that the central bank needs to continue with its accommodative monetary policy as a situation of low inflation and fragile growth still poses a threat to the region. Yesterday, the European Central Bank confirmed that it had started to buy covered bonds as part of a stimulus program to boost the Euro-zone’s economy. The central bank did not disclose the exact amount of covered bonds it purchased, however it assured that it would announce its weekly purchase amounts each Monday, starting next week. The pair is expected to find support at 1.2749, and a fall through could take it to the next support level of 1.2696. The pair is expected to find its first resistance at 1.2836, and a rise through could take it to the next resistance level of 1.2870. Trading trends in the Euro today would be determined by global macroeconomic news.
GBP/USD
The GBP rose 0.44% against the USD and closed at 1.6158. The pair is expected to find support at 1.6103, and a fall through could take it to the next support level of 1.6042. The pair is expected to find its first resistance at 1.6203, and a rise through could take it to the next resistance level of 1.6242. Trading trends in the Pound today are expected to be determined by the UK’s public sector net borrowings data, scheduled in a few hours.
USD/JPY
The pair is expected to find support at 106.50, and a fall through could take it to the next support level of 106.25. The pair is expected to find its first resistance at 107.21, and a rise through could take it to the next resistance level of 107.66.
USD/CHF
the USD declined 0.46% against the CHF and closed at 0.9433. The pair is expected to find support at 0.9399, and a fall through could take it to the next support level of 0.9372. The pair is expected to find its first resistance at 0.9467, and a rise through could take it to the next resistance level of 0.9508. Meanwhile, market participants look forward to Switzerland’s trade balance data, set for release in a few hours.
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Re: Daily Market News By FXNET

Postby CommexFX » Wed Nov 05, 2014 9:45 am

Daily Outlook 5-11-2014
EUR/USD
The EUR rose 0.49% against the USD and closed at 1.2553. In economic news, the European Commission in its economic forecast downgraded the Euro-zone’s economic growth projections to 0.8% and 1.1% for 2014 and 2015 respectively, lower than its earlier forecast of a growth of 1.2%. The greenback lost ground after factory orders in the US eased 0.6%, registering a second consecutive month fall in September, at par with market expectations, following a drop of 10.0% registered in August. Additionally, the nation’s trade deficit widened more than expected to $43.0 billion in September, against market expectations to record a deficit of $40.2 billion. The pair is expected to find support at 1.2517, and a fall through could take it to the next support level of 1.2469. The pair is expected to find its first resistance at 1.2595, and a rise through could take it to the next resistance level of 1.2625. Trading trends in the Euro today would be determined by the Euro-zone retail sales as well as services PMI data from the region and its peripheries, scheduled in a few hours.
GBP/USD
The GBP rose 0.19% against the USD and closed at 1.6007. In economic news, construction activity in Britain dropped to a 5-month low level of 61.4 in October, lower than market expectations for a drop to 63.5. Yesterday, leading thinktank, the National Institute of Economic and Social Research projected interest rates in the UK to reach 1% from an all-time low of 0.5% by the end of 2015. The pair is expected to find support at 1.5987, and a fall through could take it to the next support level of 1.5960. The pair is expected to find its first resistance at 1.6031, and a rise through could take it to the next resistance level of 1.6048. Trading trends in the Pound today are expected to be determined by Britain’s services PMI data, set for release in a few hours from now.
USD/JPY
The USD weakened 0.29% against the JPY and closed at 113.46. the BoJ Governor, Haruhiko Kuroda, mentioned that the central bank would achieve its 2% inflation target some time next fiscal year as it had expanded its monetary stimulus. He further indicated that the central bank would not hesitate to ease its monetary policy again if it is not able to achieve its inflation goal. Overnight data indicated that, the monetary base in Japan recorded a rise of 36.9% in October, following a rise of 35.3% recorded in September. The pair is expected to find support at 113.31, and a fall through could take it to the next support level of 112.92. The pair is expected to find its first resistance at 113.95, and a rise through could take it to the next resistance level of 114.20. Meanwhile, the BoJ’s minutes from its latest monetary policy meeting would be closely followed by investors, scheduled for release tomorrow.
USD/CHF
The USD declined 0.61% against the CHF and closed at 0.9594.
The pair is expected to find support at 0.9562, and a fall through could take it to the next support level of 0.9537. The pair is expected to find its first resistance at 0.9629, and a rise through could take it to the next resistance level of 0.9671. Going forward, investors await Switzerland’s CPI data for further cues, scheduled in a few hours from now.
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Re: Daily Market News By FXNET

Postby CommexFX » Thu Nov 06, 2014 9:16 am

Daily Outlook 6-11-2014
EUR/USD
the EUR declined 0.62% against the USD and closed at 1.2475. Germany’s services PMI expanded less than expected to 54.4 in October, against market expectations for a level of 54.8. indicating a worsening situation in the nation’s economy. Meanwhile, the region’s monthly retail sales retreated 1.3% in September, dropping to its lowest level since April 2012, more than market expected drop of 0.8% and compared to a gain of 0.9% recorded in August, thus stoking fears that the region could fall into another recession. In economic news, the US ISM non-manufacturing PMI dropped to a 4-month low of 57.1 in October, compared to a reading of 58.6 in the previous month. The pair is expected to find support at 1.2441, and a fall through could take it to the next support level of 1.2393. The pair is expected to find its first resistance at 1.2552, and a rise through could take it to the next resistance level of 1.2615. Trading trends in the Euro today would be governed by the ECB’s interest rate decision, scheduled later today. Meanwhile, investors would closely watch the US initial jobless claims data for further cues.
GBP/USD
the GBP fell 0.26% against the USD and closed at 1.5966, after the UK services PMI dropped to a level of 56.2 in October, marking its lowest reading since May 2013, more than market expectations to drop to a level to 58.5 and compared to previous month’s mark of 58.7, thus dampening optimism over the health of the Britain economy. The pair is expected to find support at 1.5881, and a fall through could take it to the next support level of 1.5797. The pair is expected to find its first resistance at 1.6036, and a rise through could take it to the next resistance level of 1.6107.Trading trends in the Pound today are expected to be determined by the BoE’s crucial interest rate decision, scheduled later in the day.
USD/JPY
the USD strengthened 1.09% against the JPY and closed at 114.70. Earlier today, the BoJ minutes from its October monetary policy meeting indicated that policy board members remained upbeat that the nation’s economy was expected to continue to recover moderately and the effects of sales tax hike in April 2014 would ease gradually. In economic news, Japan’s leading index climbed to a level of 105.6 in September, higher than market expectations for a reading of 105.5. The pair is expected to find support at 114.03, and a fall through could take it to the next support level of 112.85. The pair is expected to find its first resistance at 115.95, and a rise through could take it to the next resistance level of 116.70.
USD/CHF
The USD rose 0.57% against the CHF and closed at 0.9649. The Swiss Franc lost ground, after Switzerland’s monthly consumer prices remained flat in October, after advancing 0.1% in the previous month. The pair is expected to find support at 0.9595, and a fall through could take it to the next support level of 0.9549. The pair is expected to find its first resistance at 0.9675, and a rise through could take it to the next resistance level of 0.9709. Going forward, investors look forward to Switzerland’s SECO consumer confidence index, set for release in a few hours from now.
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Re: Daily Market News By FXNET

Postby CommexFX » Mon Nov 10, 2014 9:09 am

Weekly Outlook 10-11-2014
EUR USD
EUR/USD’s fall extended to as low as 1.2357 last week but formed a temporary low there and recovered. Initial bias is neutral this week for some consolidations. But upside of rebound should be limited well below 1.2886 resistance and bring fall resumption. Below 1.2357 will target 61.8% projection of 1.3700 to 1.2500 from 1.2886 at 1.2144.
In the long term picture, EUR/USD turned into a long term consolidation pattern since reaching 1.6039 in 2008. Such consolidation is still in progress. And break of 1.2042 will likely pave the way to 61.8% retracement of 0.8223 to 1.6039 at 1.1209. Before that, EUR/USD would continue to engage in sideway trading between 1.1875 and 1.5143 in medium term.
GBP USD
GBP/JPY’s fall from 1.7190 extended last week and reached as low as 1.5789. Initial bias remains on the downside for further decline to 61.8% retracement of 1.4813 to 1.7190 at 1.5721 next. Sustained break will pave the way to 1.4813 key support level. On the upside, above 1.5926 minor resistance will bring recovery. But near term outlook will stay bearish as long as 1.6184 resistance holds and deeper fall is expected.
In the longer term picture, we’re sticking on to the view that price actions from 1.3503 are the fourth wave of the five wave sequence from 2.1161. That means, firstly, 1.3503 shouldn’t be the end point of the downtrend yet and a new low is expected. However, secondly, as the next fall could be the fifth wave, the breach of 1.3503 could be shallow and brief from long term point of view and we’ll then see a more sustainable rebound.
USD JPY
USD/JPY rose to 115.57 last week as recent up trend continued. A temporary top is formed there and consolidations would be seen initially this week first. But downside of pull back should be contained by 4 hours 55 EMA (now at 112.48) and bring another rise. Above 115.57 will target 161.8% projection of 101.08 to 110.08 from 105.19 at 119.75 next.
In the long term picture, the strong impulsive look of the rally from 75.56 suggests that USD/JPY is now in a long term up trend. Based on current momentum, such rally should at least take out 61.8% retracement of 147.68 to 75.56 at 120.13 and have a test on 124.13 resistance.
USD CHF
USD/CHF’s rally from 0.8698 resumed last week and reached as high as 0.9741. A temporary top is in place and initial bias is neutral this week first. Some consolidations would be seen but downside of retreat should be contained well above 0.9359 support and bring another rally. Above 0.9741 will target 0.9838/9971 key resistance zone.
In the longer term picture, we’d maintain that price actions from 0.9971 are corrective in nature. That is, the up trend from 0.7065 should resume after finishing the correction. And, note that break of 0.9971 will also have 55 months EMA firmly taken out and would be a strong indication of completion of the down trend from 1.8305 (2000 high). In that case, USD/CHF should at least have a take of 1.1288 cluster resistance (38.2 % retracement of 1.8305 to 0.7065 at 1.1358).
http://www.commexfx.com/weekly-outlook-10-11-2014/
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Re: Daily Market News By FXNET

Postby orni308 » Sat Nov 15, 2014 5:08 pm

AUDUSD has been trading up, but it seems that the are going to be pullbacks soon, as market will be selling off.
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