Portal Komuniti Informasi Malaysia Terkini
BTCClicks.com Banner
Hello There, Guest! Register Login with Facebook

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
GDMFX - Daily News
FOREX NEWS: HUGE DAY FOR THE POUND AS BOE ANNOUNCES MONETARY POLICY DIRECTION


EUR/USD



Forex News: The euro made a quick and strong run towards the resistance zone between 1.1040 – 1.1060, staging a breakout of the range it has been in for the last months. The US Dollar wasn’t strongly affected by the ADP employment report which came out better than expected but still lower than previous.

[Image: IH9RceQ.jpg]

Technical Outlook

The current move is likely to extend above the zone around 1.1040 – 1.1060 but once the impulse calms down, we expect a pullback lower, towards the mentioned zone. Usually strong moves like the one seen yesterday are followed by a counter move or by a period of sideways movement. Once the pullback is complete, we expect the upside action to continue, with the first target being 1.1100.

Fundamental Outlook

ECB President Mario Draghi speaks today at 8:00 am GMT at a Lecture in Frankfurt. Depending on the topics discussed and his attitude, the Euro may have a reaction but the extent is likely to be limited. Nonetheless, caution is advised, as always during the speeches of heads of Central Banks.


GBP/USD

After successfully establishing 1.4350 as support, the pair continued higher in yesterday’s trading session and is now trading above 1.4565.

[Image: WfqLuZ3.jpg]

Technical Outlook

Although the short term bias is bullish, price is likely to stall or even bounce lower before it can continue higher. Both the Relative Strength Index and the Stochastic are overbought but this is not a reason on it’s own for a potential move down; however it shows that the pair travelled too far, too fast, thus increasing the chances of bearish price action.

Fundamental Outlook

The Bank of England will announce today at 12:00 pm GMT their decision regarding the interest rate (no change expected), as well as a Monetary Policy Statement and a breakdown of the MPC members’ votes on the rate. At the same time the Inflation Report comes out, containing an outlook for the economy and inflation for the next 2 years. Later, at 12:45 pm GMT, BoE Governor Mark Carney will hold a press conference, discussing the contents of the Inflation Report. All these events will most likely generate another high-volatility day for the Pound and will probably overshadow the technical aspect.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: A WILD NFP RELEASE TO END A WILD WEEK


EUR/USD



Forex News: After a brief period of sideways movement, yesterday the Euro bulls continued their climb and the assault on resistance reversed at 1.1210, a level better seen on a daily chart.

[Image: rWKHplt.jpg]

Technical Outlook

The pair shows strong rejection around 1.1210 zone, with both oscillators overbought and this suggests that today we will see bearish price action, at least to some extent. However, price was stuck in a range for a relatively long while and now it finally broke out so it’s possible for the current up move to extend into the zone near 1.1300. A lot of today’s direction will be decided by the U.S. employment data which will overshadow the technical aspect.

Fundamental Outlook

The Non-Farm Employment Change, which is the most important and anticipated report focused on United States employment is released today at 1:30 pm GMT. Analysts expect a hefty drop from last month’s 292K to 189K and if this prediction comes true, we are likely to see further upside movement for the pair, on the back of US Dollar weakness. This report usually creates very strong volatility, sometimes even sharp reversals or whipsaws, so caution is recommended.


GBP/USD

The Bank of England kept interest rates unchanged but this time all members voted the same way, while previously, one of the nine voted to raise rates. This generated mixed movement at the time of the announcement.

[Image: eMWuB5N.jpg]

Technical Outlook

The most recent candles show long wicks and the bullish momentum faded around 1.4650. On top of that, the oscillators are both overbought and all this makes us anticipate a move lower, which may find support at 1.4475. A break above 1.4650, followed by a re-test and bounce would make 1.4830 the next target but a lot will depend on today’s NFP release.

Fundamental Outlook

The United Kingdom didn’t schedule any economic indicators for the day but the U.S. Non-Farm Payrolls will directly influence the pair, potentially creating strong volatility.

We hope you had a profitable trading week and we wish you a relaxing weekend.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: SECOND PART OF FED’S YELLEN TESTIMONY AHEAD, US DOLLAR ON SHAKY GROUND


EUR/USD



Forex News: Yesterday the pair made a sharp turn after edging above 1.1310 resistance, and overall we had a bearish day. Fed Chair Yellen’s testimony brought some bearish price action after she mentioned that economy is in many ways close to normal.

[Image: DgVgF5s.jpg]

Technical Outlook

The move below 1.1200 is likely to extend into the 50 period Exponential Moving Average and possibly into 1.1110. The Relative Strength Index and the Stochastic are both moving out of overbought, coming down and increasing the chances of a stronger move to the downside but the overall trend is bullish so a quick move and a close of a full candle above 1.1210 would invalidate a bearish scenario.

Fundamental Outlook

Fed Chair Yellen will testify again today at 3:00 pm GMT on the Semi-annual Monetary Policy Report but this time before the Senate Banking Committee. As always, this type of speeches and Q&A sessions should be treated with caution because a strong impact on the markets is possible.

Also today the Eurogroup Meetings take place and although these are closed to the press, sometimes participants talk to journalists during the day, generating increased volatility. Once the meetings have concluded, a formal statement will be made.


GBP/USD

The British Manufacturing Production showed a lower value than anticipated but still better than the previous and the Pound made another run for 1.4565. However, resistance was not broken and the pair bounced lower.

[Image: rGtB37U.jpg]

Technical Outlook

Although the pair moved higher yesterday, the bulls failed to break the resistance at 1.4565 and now price is close to the minor support at 1.4475. Neither side is in clear control at the moment and probably the next direction will be decided by a break of either 1.4475 or 1.4565. The oscillators don’t show a lot of momentum and are not in extreme territory so they paint a blurry picture too, suggesting that it would be safe to wait for a clear breakout.

Fundamental Outlook

The Pound is not affected by major indicator releases today so the main focus will be Fed Chair Yellen’s testimony and the technical aspect.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: U.S. RETAIL SALES, GERMAN GDP – THE CATALYSTS THAT FUEL TODAY’S PRICE ACTION


EUR/USD



Forex News: The pair showed signs of indecision yesterday but moved higher, above the resistance at 1.1310. Yellen’s testimony before the Senate Banking Committee didn’t create the strong volatility we anticipated and the greenback remained mostly unaffected.

[Image: I1N2BAo.jpg]

Technical Outlook

Although wavering, the current uptrend is advancing, making higher highs and higher lows and moving above resistance. If the bulls can sustain price above 1.1310 we are likely to see a move into the zone near 1.1400 but we must note the fact that the Relative Strength Index is moving downwards, making lower highs. This shows bearish divergence and thus weakness for the current move up, so it’s possible to see a move towards 1.1200 today, depending also on the economic data released by Europe and the United States.

Fundamental Outlook

At 7:00 am GMT the German Prelim Gross Domestic Product is released, showing the overall performance of the German economy. No change is expected from the previous 0.3% but if a higher number is posted, the Euro is likely to strengthen.

The U.S. Retail Sales come out at 1:30 pm GMT, with a forecast change of 0.1% (previous -0.1%). Sales made at retail levels represent a major part of economic activity, thus higher numbers are beneficial to the US Dollar. The last important economic indicator of the week is the University of Michigan Consumer Sentiment, a survey of about 500 consumers regarding their opinion on current and future economic environment. The release is scheduled at 3:00 pm GMT and the forecast is 92.6, slightly better than the previous 92.0. Higher values usually strengthen the US Dollar.


GBP/USD

Yesterday the pair descended again below 1.4475 but didn’t continue lower into support, showing that neither side is in clear control.

[Image: FcHJHIp.jpg]

Technical Outlook

The recent drop took price below the 50 period Exponential Moving Average and below 1.4475 so the short term bias is slightly bearish now, as long as price remains below the mentioned technical levels. Near support is located at 1.4350 and a break of this level would imply that further downside will follow; on the other hand, a move above 1.4475 would make 1.4565 the next target.

Fundamental Outlook

The United Kingdom didn’t prepare any major economic news releases for today so all eyes will be on the United States for the indicators mentioned earlier.

We hope you had a profitable trading week and we wish you a relaxing weekend.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: ECB PRESIDENT DRAGHI TESTIFIES ON MONETARY POLICY. HOW WILL THE EURO REACT?


EUR/USD



Forex News: Friday belonged to the sellers who managed to take price below 1.1310 and to touch 1.1210 on the back of a better than expected value of the U.S. Retail Sales, which strengthened the US Dollar.

[Image: 8nhIK9k.jpg]

Technical Outlook

The pair bounced higher after a touch of 1.1210 which has now turned into support but this level is likely to be tested once again today. A break of the said level would open the door for an encounter with the 50 period Exponential Moving Average and a move into the next minor support located at 1.1160. The Relative Strength Index is making lower highs while price is showing higher highs and this is indicative of bearish divergence, which increases the chances of an extended move south but keep in mind the bulls are still in control of medium term price action.

Fundamental Outlook

Banks in the United States are closed, celebrating Presidents’ Day and no indicators are released today, so volatility might be affected, especially in the New York session. The Euro will be influenced by the testimony of ECB President Mario Draghi before the Economic and Monetary Affairs Committee of the European Parliament, scheduled at 2:00 pm GMT. The topic is monetary policy so the impact on the currency markets will be strong but the direction depends on the President’s attitude and answers.


GBP/USD

The pair had a choppy session Friday, similar to the rest of the week, with price bouncing between support and resistance without clear direction.

[Image: VewDmWT.jpg]

Technical Outlook

Lately the level at 1.4450 acts as good support, pushing the pair higher and this gives it more importance for today’s price action. We anticipate another touch of the said level but our bias is mostly neutral as we wait for a breakout and a move above 1.4565 or below 1.4450. Considering that U.S. banks are closed and no major indicators will affect the Pound, it is possible to see another choppy trading day, inside the mentioned range.

Fundamental Outlook

There are no major indicators scheduled by the United Kingdom for today so price direction will be mainly affected by the technical aspect.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: BULLS START TO LOSE GROUND AHEAD OF GERMAN ZEW, BRITISH CPI


EUR/USD



Forex News: ECB head Mario Draghi hinted during Monday’s testimony that more easing is likely to be implemented at ECB’s March meeting thus the Euro reacted by weakening and dropping below short-term support.

[Image: LcORx7z.jpg]

Technical Outlook

The pair is trading below the 50 period Exponential Moving Average and below 1.1160 which acted previously as short term support. The latest bearish move is likely to find some support and to bounce higher at 1.1100, or at least to stall there for a while. The chances of this happening are increased by the fact that both the Stochastic and Relative Strength Index are approaching oversold territory and the bullish side of the market still has underlying strength. To the upside, the 50 period EMA is an important resistance that can reject a possible move up; on the other hand, a breakout above it would imply that the bearish move is exhausted.

Fundamental Outlook

The German ZEW Economic Sentiment comes out at 10:00 am GMT, showing the opinions of about 275 German professional analysts and investors regarding a 6-month economic outlook. The survey is well respected, mostly because respondents are well informed about economic matters by virtue of their occupation, and usually higher numbers strengthen the Euro, while the opposite is true for lower numbers. The forecast for today’s release is 0.1, a big drop from the previous 10.2.


GBP/USD

Although U.S. banks were closed, the US Dollar gained against the Pound yesterday and the bears managed to take the pair below 1.4450 minor support.

[Image: h2DTvBc.jpg]

Technical Outlook

If the sellers can keep price below 1.4450 and below the 50 period Exponential Moving Average, we will probably see a move into the more important level located at 1.4350. A break of the latter would show that the balance of power is shifting towards the short side and that the bears are starting to regain control of the pair. However, until either 1.4350 or 1.4565 is clearly broken, our bias remains neutral; adding to this view is the lack of momentum showed by both oscillators.

Fundamental Outlook

Today we take a look at British inflation with the release of the Consumer Price Index, scheduled at 9:30 am GMT. This is the main gauge of inflation in the UK and it has been showing disappointing numbers for a long while. Any change above the anticipated 0.3% (previous 0.2%) is likely to trigger Pound strength and thus a move into higher territory.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: BEARS MAKE THEIR PRESENCE KNOWN; SUPPORT BROKEN, MORE DOWNSIDE TO FOLLOW


EUR/USD



Forex News: The pair attempted yesterday to break above the 50 period Exponential Moving Average but failed and moved below support. The German ZEW survey came out better than anticipated but still much worse than previous and this contributed to the bearish session.

[Image: aoNxhpu.jpg]

Technical Outlook

Short term control belongs to the bears but the Stochastic is already below its oversold level, while the Relative Strength Index is coming close to it. On top of that, the pair doesn’t show a lot of downside momentum and price action this month was mostly bullish so we cannot rule out a sudden move above 1.1160 and even above 1.1200. However, as long as price remains below the 50 period Exponential Moving Average, our bias remains bearish, for a touch of 1.1040 in the days to come.

Fundamental Outlook

The first important event of the day is the release of the U.S. Building Permits, scheduled at 1:30 pm GMT and expected to show a number of 1.21M, a small increase from the previous 1.20M. Obtaining a permit is the first step necessary to build a construction so this is a good indicator of future activity in the housing sector and higher numbers show increased activity, leading usually to a stronger US Dollar.

Later in the day, at 7:00 pm GMT the FOMC will release the Minutes of their latest Meeting, showing the reasons that determined their decision on the interest rate. Usually this document contains hints about the pace of future hikes and usually triggers strong movement so caution is recommended at the time of the release.


GBP/USD

Yesterday the pair made an early attempt to move above the 50 period Exponential Moving Average but soon reversed and dropped sharply below support.

[Image: rYWD3mZ.jpg]

Technical Outlook

Now that 1.4350 support is broken, we expect more sellers to step in and take price into 1.4230. If this support is touched, the probability of a bounce higher will be increased by the position of the oscillators which will probably become oversold by then. A move above 1.4350 would imply that the ranging period is still not over and the break was a false one. Both the Pound and US Dollar will be affected by economic indicators today so the technical aspect is somewhat secondary.

Fundamental Outlook

At 9:30 am GMT the British Claimant Count is released, showing the changes in the number of people who asked for unemployment related help. A higher number of unemployed people is detrimental for the economy, thus a higher reading than the anticipated -2.9K will likely weaken the Pound, taking the pair lower.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: DOWNSIDE RISKS PRESENT, YET US DOLLAR GAINS AGAINST ITS COUNTERPARTS


EUR/USD



Forex News: Ahead of the FOMC Minutes release, the euro-dollar showed choppy price action and the support at 1.1110 was touched but not broken. The Minutes showed that some members see downside risks to the economy; however the greenback made timid advances at release time.

[Image: e01gkHo.jpg]

Technical Outlook

Although price action is choppy, the bears seem to push the pace, making another attempt to break the support located around 1.1100. As long as the pair trades below the 50 period Exponential Moving Average we favour the short side to a limited extent. A break of 1.1110 would confirm our bearish bias and would make 1.1040 the next target but the Stochastic has already reached oversold and is now moving upwards so we cannot rule out a move above the moving average, headed into 1.1210.

Fundamental Outlook

The US Dollar will be affected today by the release of the Philly Fed Manufacturing Index, a survey that offers insights into the opinions of about 250 manufacturers from the Philadelphia district regarding the health of the sector. The previous value was -3.5 and the forecast for today is a small increase to -2.9 but the indicator usually creates strong impact only if there’s a substantial difference between the actual number and the forecast.


GBP/USD

The British Claimant Count Change released yesterday posted better than expected numbers but this only created a brief moment of Pound strength, which was quickly reversed. The FOMC Meeting Minutes generated some US Dollar strength but nothing spectacular.

[Image: BOJ3Mlm.jpg]

Technical Outlook

The bulls made an attempt to take price above 1.4350 but the pair reversed before seriously threatening the said level and it appears that 1.4230 will be touched again today. A break of this level would increase the chances of another encounter with 1.4125 and a possible break of the key low established last month. The oscillators have reached extreme territory (oversold) and this might be a reason for a move up but as long as price trades below 1.4350, we favour the short side.

Fundamental Outlook

The GBP/USD will be driven today by the U.S. indicators and by the technical aspect as the United Kingdom didn’t schedule major releases for the day.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: UNSTABLE PRICE ACTION AHEAD OF U.S. INFLATION DATA, BRITISH RETAIL SALES


EUR/USD



Forex News: Yesterday the pair continued its slow crawl, moving below the support located at 1.1110 but no substantial advances were made. The U.S. Manufacturing data came out close to analysts’ prediction, hence the impact on the market was limited.

[Image: C8Iyca2.jpg]

Technical Outlook

The bearish movement lacks momentum and both oscillators are in the lower part of their channels, suggesting that a move into higher territory is likely to happen today. If this is the case, the bulls will encounter heavy resistance at the 50 period Exponential Moving Average and at the 1.1160 level. To the downside the first target is the zone between 1.1060 – 1.1040 and if the pair reaches it, we expect a bounce higher; however, a lot of today’s price action will be influenced by the U.S. inflation data scheduled for release.

Fundamental Outlook

The U.S. Consumer Price Index comes out today at 1:30 pm GMT and is expected to show a change of -0.1%. Inflation is a key element which is taken into consideration by the Fed when the interest rate is set and usually an increase brings US Dollar strength, especially because the current value is too low. We can expect the pair to move lower in case of a value that’s higher than anticipated.


GBP/USD

The pound-dollar was mostly bullish yesterday, fuelled by optimistic talks regarding a potential Brexit. Resistance was breached but a clear break wasn’t recorded at the time of writing.

[Image: cYeAwys.jpg]

Technical Outlook

For the bullish impulse to continue the pair needs to break the 50 period Exponential Moving Average to the upside but for now this technical indicator is offering good resistance. A move above the moving average will make 1.4450 a likely target, while a rejection will open the door for a touch of 1.4230. The technical aspect is secondary today because both currencies in the pair are affected by important economic releases.

Fundamental Outlook

The British Retail Sales are the week’s last important release for the Pound. The event is scheduled at 9:30 am GMT and the anticipated change is 0.8%, compared to the previous -1.0%. Usually the indicator creates strong volatility, with higher values strengthening the Pound, thus taking the pair higher.

We hope you had a profitable trading week and we wish you a relaxing weekend.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: POUND RISES AS PRIME MINISTER CAMERON AND EU LEADERS FINALIZE AN OPTIMISTIC DEAL


EUR/USD



Forex News: U.S. inflation improved as shown Friday by the Consumer Price Index and the US Dollar strengthened at first but soon after, the gains were erased and the pair climbed higher.

[Image: 1VX7dVh.jpg]

Technical Outlook

Price action confirmed the zone around 1.1085 as support and price bounced higher once it touched it. This bounce at support combined with the fact that both oscillators are moving upwards may very well generate a break of the 50 period Exponential Moving Average and if this is the case, the first target is the zone around 1.1200. However, as long as price stays below the 50 EMA, we favour the short side and a bearish break of 1.1085.

Fundamental Outlook

The Euro will be affected today by the release of the German Manufacturing PMI which is a survey of approximately 500 purchasing managers who are asked to rate business conditions in their sector. Usually higher numbers than expected strengthen the Euro but the indicator has a lower impact if the actual number matches or comes very close to analysts’ forecast. The release time is 8:30 am GMT and the expected value is 52.1.


GBP/USD

The pair ended last week on a bullish note after a back and forth Friday session. The British Retail Sales came out better than anticipated and British Prime Minister Cameron agreed on a deal with European Union leaders regarding Britain’s stay in the union.

[Image: WjyWiws.jpg]

Technical Outlook

At the time of writing the pair is trying to break the 50 period Exponential Moving Average to the upside and the buyers seem in control of short term price direction. If they succeed to take price above the moving average, we will probably see bullish price action for most of the day or at least until the resistance at 1.4450 is reached. A quick move below 1.4350 would make 1.4230 the first target but this is probably a distance that will not be entirely travelled on a Monday.

Fundamental Outlook

The Pound will not be affected today by major news releases so the main focus of traders around the world will be on the technical aspect. Keep in mind that rumours and talks surrounding a possible “Brexit” will probably affect today’s price direction.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:


Forum Jump:


Users browsing this thread: 1 Guest(s)