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GDMFX - Daily News
#51
Forex News: Markets take a break for Easter

EUR/USD


Forex News: Friday price moved in a range of about 15 pips which was almost impossible to trade. This behavior was triggered by the fact that many brokerages and banks were closed, celebrating Good Friday.

[Image: 2014.04.21-Markets-take-a-break-for-East...24x477.png]

Technical Outlook

Today no movement is anticipated because banks and brokerages around the world are closed due to Easter Holidays. The market takes a break and once trading resumes, 1.3830 is the first level to watch for a bounce or break scenario.

Fundamental Outlook

Due to Easter Monday, no important economic or financial indicators are released today.


GBP/USD

The pair also moved sideways Friday as most traders took the day off and volume was extremely thin.

[Image: 2014.04.21-Markets-take-a-break-for-East...24x477.png]

Technical Outlook

The day will lack movement and most markets around the world will be closed today. The important levels to watch once action resumes are 1.6820 and 1.6750.

Fundamental Outlook

The fundamental scene is quiet today, for the reasons mentioned above.


Written by: Bogdan Giulvezan

The article above is based on the writer’s 5-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker.
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#52
[Image: 10009822_431204423683571_6225486056479643319_n.jpg]

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#53
FOREX NEWS: VOLUME BACK TO NORMAL. THE MARKET IS LIKELY TO REVEAL ITS REAL DIRECTION

EUR/USD


Forex News: The pair moved slowly yesterday, but had a higher range than expected, considering that many banks around the world were closed, celebrating Easter. No economic indicators were released but the US Dollar took the pair lower.

[Image: 2014.04.22-Volume-back-to-normal.-The-ma...24x477.png]

Technical Outlook

We saw an almost perfect bounce lower once price touched 1.3830 resistance and price started to head towards 1.3760 support. However, this movement cannot be considered a clear sign that bears try to take control of price direction and it’s rather just a behavior generated by low volume. Today’s price action will offer better hints about the next medium term direction and the main levels to watch remain 1.3830 and 1.3760.

Fundamental Outlook

All major banks will be open today so volatility is returning to normal but only one important economic indicator is released: The US Existing Home Sales. The indicator shows the annualized number of homes sold during the previous month and better figures usually have a positive impact on the US Dollar. The time of the release is 2:00 pm GMT and the expected number is 4.57M, while the previous was 4.60M.


GBP/USD

Similar to the EUR/USD, the Cable bounced off resistance yesterday but the movement was slow and the pair moved in a tight range.

[Image: 2014.04.22-Volume-back-to-normal.-The-ma...24x477.png]

Technical Outlook

Now that Easter is behind us, we expect to see where the pair is really headed. The resistance located at 1.6820 rejected price as soon as it was touched and under normal circumstances we would anticipate a touch of 1.6750 or at least a clear move towards it. However, because the pair is in a long term uptrend, another move into 1.6820 or even above it is not out of the question.

Fundamental Outlook

Today no economic data comes out of the United Kingdom and price action will be mostly influenced by technical factors and by the US release mentioned earlier.

Written by: Bogdan Giulvezan

The article above is based on the writer’s 5-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
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#54
FOREX NEWS: MANUFACTURING PMIS AND BOE MEETING MINUTES RESTORE VOLATILITY

EUR/USD


Forex News: The pair continued to move without clear direction yesterday and the slightly better than anticipated value of the US Existing Home Sales didn’t trigger a sharp drop even if some US Dollar strength could be seen at the time of the release.

[Image: 2014.04.23-Manufacturing-PMIs-and-BoE-Me...24x477.png]

Technical Outlook

Although the picture is not clear and movement is rather ranging, we can notice some rejection off 1.3830 resistance, which is a sign that 1.3760 might be touched today. We slightly favor the down side but we acknowledge the fact that yesterday’s price action is not very conclusive. The Euro Zone will release 2 economic indicators today so the pair’s direction will be influenced by them, especially because the technical aspect is unclear.

Fundamental Outlook

France announces the Manufacturing PMI at 7:00 am GMT. Analysts expect a very small increase from 51.8 to 51.9 and higher values usually strengthen the Euro since the indicator acts as a gauge of optimism among purchasing managers who activate in the Manufacturing sector. At 7:30 am GMT, the German Manufacturing PMI is released and expected to increase from 53.7 to 53.9.
The US New Home Sales numbers come out at 2:00 pm GMT, with an increase anticipated: 455K from the previous 440K. A higher number than forecast could take the pair lower on the back of greenback strength.


GBP/USD

Slowly but surely the Pound climbed above the major resistance located at 1.6820 and the better than expected value of the US Existing Home Sales couldn’t generate enough downward momentum to bring price below the mentioned level.

[Image: 2014.04.23-Manufacturing-PMIs-and-BoE-Me...24x477.png]

Technical Outlook

The Relative Strength Index on a four hour chart is approaching the level of 70 which indicates an overbought condition of the market; although this is not a sign of clear reversal on its own, it makes further advancements more difficult. We favor a move below 1.6820 unless the bulls can show a quick and clear proof of strength (clear move above the mentioned level). The first support level is located at 1.6750.

Fundamental Outlook

At 8:30 am GMT the Minutes of the latest Bank of England Meeting are released. The document will outline the reasons which stood behind the Interest Rate decision and will contain the breakdown of the members’ votes. The Minutes also allow traders to see how many members are changing their stance regarding the value of the interest rate, thus offering clues about future rate direction.


Written by: Bogdan Giulvezan

The article above is based on the writer’s 5-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
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#55
FOREX NEWS: MARIO DRAGHI STEALS THE SPOTLIGHT ONCE AGAIN

EUR/USD


Forex News: Yesterday’s trading session started with Euro bulls in control of the pair, on the back of a better than anticipated value of the German Manufacturing PMI. However, the bears came back strong in the second part of yesterday and almost nullified previous advances.

[Image: 2014.04.24-Mario-Draghi-steals-the-spotl...24x477.png]

Technical Outlook

A move that appeared to be a valid break of resistance was soon reversed and price traveled south of 1.3830 once again. This erratic movement suggests that the market is still in a state of indecision and that both bullish and bearish moves can occur. The main levels to watch today are 1.3900 as resistance and 1.3760 as support and stronger moves are anticipated, especially at the time of Mario Draghi’s speech.

Fundamental Outlook

ECB President Mario Draghi will speak today at a conference held in Amsterdam and as always, his speech can be a good source of volatility and strong moves, especially if he will talk about ECB’s future monetary policy. The speech is scheduled at 9:00 am GMT and an hour earlier, the German Ifo Business Climate will be released, with an anticipated decrease from 110.7 to 110.5. This is a survey of about 7,000 businesses, which acts as a gauge of optimism so usually, higher than anticipated numbers are beneficial for the Euro.

Later in the day, at 12:30 pm GMT, the United States will release the Durable Goods Orders (orders for goods with a life expectancy of at least three years). Te anticipated value is 2.1% while the previous was 2.2% and under normal circumstances, a decrease would weaken the US Dollar.


GBP/USD

For almost the entire duration of yesterday’s trading session, the Pound weakened against the greenback and overall price action trended smoothly downward.

[Image: 2014.04.24-Mario-Draghi-steals-the-spotl...24x477.png]

Technical Outlook

The strong resistance located at 1.6820 pushed the pair lower yesterday and by doing so, it also showed us that the long term uptrend is beginning to waver. For today’s trading session we anticipate a move below 1.6750, a fact which would also signify a big victory for the bears. Considering the fact that we are still in an uptrend from a long term perspective, another move into 1.6820 is not out of the question.

Fundamental Outlook

The United Kingdom didn’t schedule any important economic indicator releases today so price action will be mostly influenced by the technical aspect and by the US event mentioned earlier.


Written by: Bogdan Giulvezan

The article above is based on the writer’s 5-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
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#56
FOREX NEWS: A SLOW MONDAY AHEAD; NO MAJOR INDICATORS ARE RELEASED

EUR/USD


Forex News: Friday the pair moved in a 20 pip range and no economic data was released by the United States or Europe, making trading very difficult.

[Image: 2014.04.28-A-slow-Monday-ahead-no-major-...24x477.png]

Technical Outlook

A 20 pip range is certainly not enough for proper technical analysis and holds almost no clues for future direction. Price has moved above 1.3830 but this cannot be considered a real break, especially because lately this level has been pierced several times. Our bias is neutral until a strong move occurs, which will most likely determine the pair’s next direction. For the moment 1.3760 is support and resistance sits at 1.3900.

Fundamental Outlook

The day is pretty slow in terms of economic releases and the only indicator worth mentioning is the US Pending Home Sales which offers insights into the American house market and has the potential to strengthen the US Dollar if it posts a higher value than the anticipated 1.0%. The release is scheduled at 2:00 pm GMT.


GBP/USD

Market participants expected the UK Retail Sales to generate strong volatility but after a quick surge up, the move slowed and then reversed almost completely, making Friday another difficult day for intraday trading.

[Image: 2014.04.28-A-slow-Monday-ahead-no-major-...24x477.png]

Technical Outlook


Friday the bulls made another attempt to break the level of 1.6820 but this resulted in a bounce lower, showing that resistance is holding, thus increasing the chances of a move lower. We don’t expect major moves today, mainly because no major news comes out, but the levels to watch remain 1.6820 as resistance and 1.6750 as support.

Fundamental Outlook

Price movement will be mainly affected by the US housing data and by the technical aspect of the market as the United Kingdom didn’t schedule any economic or financial indicator releases.


Written by: Bogdan Giulvezan

The article above is based on the writer’s 5-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
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#57
[Image: 10314676_434457306691616_8086712616785130869_n.jpg]

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#58
FOREX NEWS: GERMAN CPI AND BRITISH GDP – THE MARKET-MOVERS OF THE DAY

EUR/USD


Forex News: Yesterday the pair experienced a sudden rally, which was short lived because the better than expected value of the US Pending Home Sales strengthened the US Dollar and brought price lower, in close vicinity to 1.3830.

[Image: 2014.04.29-German-CPI-and-British-GDP-th...24x477.png]

Technical Outlook

What appeared to be a strong move away from 1.3830 proved to be a single impulse which was quickly reversed, showing us that bulls lack determination and strength to drive price higher. If price returns below 1.3830, the next target will be the support at 1.3760. The pair continues to trade without clear direction and the technical aspect will be secondary today because important data is released.

Fundamental Outlook

The German Consumer Price Index is released today at 12:00 pm GMT and expected to increase to 1.4% from the current 1.0%. Such an increase would be beneficial for the Euro, especially because German inflation influences the entire Euro Zone. The United States release at 2:00 pm GMT the Consumer Confidence, a leading indicator of consumer spending. For today’s release, an increase is forecast, from the previous 82.3 to 82.9. Higher values for this indicator usually strengthen the US Dollar and push the pair lower.


GBP/USD

Speculation that today we will see a better than expected value of the UK Gross Domestic Product brought yesterday the pair higher, but similar to the EUR/USD, the rally was soon reversed.

[Image: 2014.04.29-German-CPI-and-British-GDP-th...24x477.png]

Technical Outlook

Yesterday’s high located at 1.6858 will most likely act as resistance if price touches it again but if it is surpassed, the next resistance is located at 1.6880 (visible on a weekly chart). The first support sits at 1.6750 and since yesterday’s move up is not convincing and was quickly reversed, we favor a drop towards the mentioned support.

Fundamental Outlook

The technical aspect will be somewhat secondary today because United Kingdom’s Gross Domestic Product is released at 8:30 am GMT. An increase is expected, from the previous 2.7% to 3.2% and if this prediction comes true, the Pound will most likely strengthen because the GDP is an economy’s main gauge of overall performance. As always, the pair will be also influenced by the US data released throughout the day.


Written by: Bogdan Giulvezan

The article above is based on the writer’s 5-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
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#59
FOREX NEWS: EUROPE FOCUSES ON THE CPI WHILE THE US DOLLAR WILL BE INFLUENCED BY SEVERAL HIGH IMPACT RELEASES

EUR/USD


Forex News: The German Consumer Price Index posted a lower than expected value, weakening the Euro and allowing the bears to take control of the pair and to take price below 1.3830.

[Image: 2014.04.30-Europe-focuses-on-the-CPI-whi...24x477.png]

Technical Outlook

In light of recent events it looks like the resistance at 1.3900 will not be tested soon as the pair seems to be headed towards 1.3760 support. If this move does occur, the first barrier which needs to be broken is the support at 1.3790 but a lot depends on the value which will be posted today by the European CPI so the technical aspect will be somewhat secondary.

Fundamental Outlook

The European Consumer Price Index, which is the region’s most important inflation measure, will be released today at 9:00 am GMT and expected to increase from the current 0.5% to 0.8%. The ECB tries to maintain inflation just below 2% so the current value is considered too low and a figure which doesn’t meet or surpass expectations will most likely weaken the Euro. The ADP Non Farm Employment report will be released at 12:15 pm GMT and although it doesn’t have the huge impact of the government issued indicator (which comes out Friday), numbers above 203K will have a positive impact on the US Dollar.

At 12:30 pm GMT the US Gross Domestic Product is released and a decrease is anticipated: 1.2% from last month’s 2.6%. Such a drop would signify a slower economy, with decreased activity, thus weakening the greenback. Later in the day, at 6:00 pm GMT the US Interest Rate is announced (no change anticipated from the current <0.25%), together with the FOMC Statement which will outline the reasons which stood behind the rate decision and will also show if the Fed will further trim the monetary stimulus (also known as quantitative easing).


GBP/USD

Yesterday’s main event for the Pound was the release of the Gross Domestic Product which showed a lower value than analysts expected and this took the pair lower; soon after, the bulls took price back up, creating a difficult to trade environment.

[Image: 2014.04.30-Europe-focuses-on-the-CPI-whi...24x477.png]

Technical Outlook

The pair had a mixed day yesterday, with a lot of sharp turns and no clear direction but another move below 1.6820 would be indicative of bear strength and would suggest the uptrend is severely weakened. The Relative Strength Index doesn’t show an extreme condition of the market and price action does not favor a specific direction so today the pair’s movement will be highly affected by the fundamental aspect of the market.

Fundamental Outlook

Although today the United Kingdom doesn’t release major data, the day will probably have strong movement as the US events will most likely have a huge impact on price direction.


Written by: Bogdan Giulvezan

The article above is based on the writer’s 5-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
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#60
FOREX NEWS: US NON FARM PAYROLLS – HUGE MOVEMENT AHEAD

EUR/USD


Forex News: The Euro continued to climb yesterday on speculation that the ECB will not introduce any form of quantitative easing, but later in the day a better than expected value of the US Manufacturing PMI brought price back down. However, all this up and down movement took place in a very small range, probably due to low volume generated by Labor Day.

[Image: 2014.05.02-US-Non-Farm-Payrolls-huge-mov...24x477.png]

Technical Outlook

The resistance at 1.3900 wasn’t threatened but bullish moves are expected today, mainly because the momentum favors the buyers. The Relative Strength Index didn’t reach an overbought state so the market is not considered overextended and price can continue upwards. Today is an important day for the US Dollar and the main focus will be on the Non Farm employment report which usually generates huge moves so technical aspects will be overshadowed by this release.

Fundamental Outlook


The US Non Farm Employment Change (also known as Non Farm Payrolls) is released today at 12:30 pm GMT. The estimated figure is 216K, an increase from the previous 192K and if this forecast comes true, we will most likely see US Dollar strength because the NFP is widely regarded as the most important gauge of employment in the United States and is also a leading indicator of consumer spending.


GBP/USD

Manufacturing in the UK showed a surprising improvement yesterday, strengthening the Pound and allowing the pair to climb to 1.6920. Overall we had a mixed trading day with several changes of direction seen on the lower time frames.

[Image: 2014.05.02-US-Non-Farm-Payrolls-huge-mov...24x477.png]

Technical Outlook

Yesterday’s high located at 1.6920 will most likely act as resistance today if the pair decides to climb back up again, but from a strictly technical point of view, we expect a move lower which will most likely find support at 1.6880. If this generates a bounce, 1.6920 will become the first bullish target but price action will be heavily influenced by the release of the NFP.

Fundamental Outlook

The British Construction PMI is released today at 8:30 am GMT and expected to decrease slightly from the previous 62.5 to 62.2. Since this is a leading indicator of economic health, higher numbers usually strengthen the Pound but its release often has a lesser impact compared to the Manufacturing PMI (released a day earlier). However, the headline of the day remains the US Non Farm Employment report.
We hope you had a profitable trading week and we wish you a relaxing weekend.


Written by: Bogdan Giulvezan

The article above is based on the writer’s 5-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
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