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: EURO STILL RANGE BOUND, POUND PRONE FOR ANOTHER DIP


EUR/USD


Forex News: Yesterday the pair stayed inside 1.1150 – 1.1240 channel and bounced from the bottom of the range all the way up. Now rejection is seen at the top of the range.

[Image: LJkkarJ.jpg]

Technical Outlook

The pair remains in indecision mode and all moves to one side are quickly reversed. It’s very likely that this behaviour will change Friday when the NFP report comes out but today we don’t expect a clean breakout. The 50 period Exponential Moving Average is flat again and the oscillators are going nowhere so for now the pair should be considered in range-mode, capped by 1.1240 resistance and 1.1150 support.

Fundamental Outlook

The economic calendar is light for both the US Dollar and the Euro and this means that price direction will be decided mostly by the technical aspect.


GBP/USD

The pair bottomed at 1.2685, which is the lowest point in over three decades of trading. Small retracements were seen yesterday but the oscillators are still deep in oversold territory.

[Image: VZ9zqSX.jpg]

Technical Outlook

The pair is in a clear downtrend but due to the overextended condition of price, we consider that a move up is next. This potential move up should be regarded as a normal retracement and may be followed by further downside. For now support sits at 1.2685 and potential resistance around 1.2800; our overall bias is bearish and we don’t exclude another drop without a retracement beforehand.

Fundamental Outlook

Just like the United States and the rest of Europe, the United Kingdom didn’t schedule major indicators for today so traders will focus on the technical side.
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: BRACE FOR IMPACT: NFP REPORT AHEAD


EUR/USD


Forex News: Yesterday the pair remained inside the channel created by 1.1240 resistance and 1.1150 support, with low volatility and overall a bearish bias. Price is still in range mode be we expect this to change with today’s NFP release.

[Image: uGP3MgK.jpg]

Technical Outlook

Price is trading below the 50 period Exponential Moving Average and this slightly tilts the balance towards the short side. Keep in mind that the pair is still in range-mode so after the bounce at the upper part of the range, it’s very possible to see a touch of the lower part. The technical aspect will be overshadowed by the NFP release but the levels to watch remain 1.1240 and 1.1150.

Fundamental Outlook

The highlight of the day is the release of the U.S. Non-Farm Employment Change report, also known as the Non-Farm Payrolls (NFP). The indicator tracks changes in the total number of jobs created during the previous month and is widely considered the most important U.S. employment data. Higher numbers strengthen the US Dollar under normal circumstances, thus anything above today’s forecast of 171K, will probably take the pair lower. The time of the release is the usual 12:30 pm GMT.


GBP/USD

After a very small retracement, the pair took another dive and travelled more than 130 pips to the downside, solidifying the control of the bears.

[Image: sBHXizH.jpg]

Technical Outlook

The retracement to the upside wasn’t strong enough to clear the overextended condition of the pair so we expect a bigger climb. The overall bias is clearly bearish and the probability of another move south is very high. The pair is in “uncharted” territory (these levels weren’t seen for more than 30 years) so currently there is no clear support level; minor resistance sits around 1.2760.

Fundamental Outlook

At 8:30 am GMT the British Manufacturing Production is released, showing changes in the total value of goods produced by the manufacturing sector. The forecast is 0.4% (previous -0.9%) and under normal circumstances, higher numbers strengthen the Pound. The NFP release will also have a strong impact on the pair’s movement.
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: US DOLLAR SUFFERS SHORT TERM WEAKNESS, POUND AT HISTORICAL LOWS


EUR/USD


Forex News: The U.S. employment data released Friday disappointed as the NFP report showed that only 156K new jobs were created during the last month (forecast 171K). The pair bounced higher as a result, on the back of temporary US Dollar weakness.

[Image: G6NCLxw.jpg]

Technical Outlook

The greenback took a blow from the NFP report but the actual value wasn’t disastrous so the move up is likely to be reversed. The 50 period Exponential Moving Average is now sitting in front of rising price and if we don’t see a bullish break soon, we expect the pair to return to the zone around 1.1150. A break of the 50 period EMA will open the door for a move into 1.1240 resistance but we don’t expect the climb to extend past that level.

Fundamental Outlook

Europe didn’t schedule major indicators today and United States banks will be closed in observance of Columbus Day so the US Dollar will not be affected by major releases either.


GBP/USD

The Pound was hit hard by a “flash crash” and the pair dropped to historical levels. The sudden move was attributed in part to fears about a difficult Brexit and a potential loss of access to the European single market.

[Image: PsdgARZ.jpg]

Technical Outlook

Most of the move was reversed and now the pair is trading between 1.2480 and 1.2227. These can be considered levels of resistance and support respectively but the next move for the pair is uncertain. It looks like the pair has calmed down and is likely to move inside the channel for a while but the Pound is definitely vulnerable right now and the possibility of another drop cannot be ruled out. Caution is recommended!

Fundamental Outlook

Same as the rest of the week, the economic calendar is light for the United Kingdom and we don’t have any notable releases today.
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: MPC MEMBER TESTIFIES. POUND PRONE TO SUDDEN MOVES


EUR/USD


Forex News: Yesterday we saw the pair bounce at the 50 period Exponential Moving Average and drop into the support at 1.1150. The economic calendar was light and overall volatility remained low.

[Image: KMj7VsU.jpg]

Technical Outlook

The pair is still in range mode, with low volatility; so far the 50 EMA offered good resistance and the bias is slightly bearish as long as price is trading below it. We expect a break of 1.1150 and 1.1130 soon, followed by another move into the next support, located at 1.1100. Today’s price action will be influenced by the German ZEW survey but lately the impact of this indicator has diminished.

Fundamental Outlook

As mentioned above, the day’s most notable release is the German ZEW Economic Sentiment, scheduled at 9:00 am GMT. This is a survey of about 275 German analysts and institutional investors and reflects their optimism regarding a 6-month outlook for German economy. Higher numbers than the forecast 4.2 (previous 0.5) usually strengthen the Euro.


GBP/USD

As it was expected, the pair remained between 1.2480 resistance and 1.2227 support yesterday and no major developments took place.

[Image: hESASW1.jpg]

Technical Outlook

The direction remains uncertain and the pair is mostly affected by overall sentiment rather than technical factors. The main bias is bearish and we expect a move closer to 1.2227 support but for the time being we recommend caution because the Pound is prone to unexpected and sudden moves. The Stochastic is overbought, while the Relative Strength Index is oversold, thus showing mixed signals and adding to the overall uncertainty.

Fundamental Outlook

Michael Saunders, a member of the Bank of England Monetary Policy Committee will testify before the Treasury Select Committee today at 9:00 am GMT. His speech may generate irregular movement or may go mostly unnoticed; either way, use caution.
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: US DOLLAR GAINS GROUND AHEAD OF FOMC MINUTES, MPC MEMBER TESTIFIES ON BREXIT EFFECT


EUR/USD


Forex News: The German ZEW Economic Sentiment survey released yesterday posted a better than expected value but the impact on the Euro was minimal and instead the pair had a bearish day, breaking support.

[Image: 2cyKuEO.jpg]

Technical Outlook

The support at 1.1100 was finally broken and the pair now sits on 1.1075, with both the Stochastic and Relative Strength Index in oversold territory. It looks like the bears are taking control of the pair’s short term movement but it’s very likely to see a bounce higher here because price is still moving a low amount of pips each day, without clear determination. Our bias is bearish after small retracements, anticipating a move into 1.0960 during the days to come.

Fundamental Outlook

The day is slow on the Euro’s side but at 6:00 pm GMT the FOMC will release the Minutes of their latest meeting regarding interest rates. We expect this to affect strongly the US Dollar, especially if the document will contain hints about a potential rate hike later this year.


GBP/USD

Yesterday the pair grinded lower, towards support but didn’t threaten it and the testimony of MPC Member Saunders did not have a huge impact on the Pound.

[Image: oLnJeuC.jpg]

Technical Outlook

Price is approaching the support at 1.2227 and once it gets in that zone, we expect a bounce higher. The Relative Strength Index is deep in oversold territory and this will probably contribute to a future move up but the Stochastic is still heading downwards with good momentum so the signals offered by the two oscillators are still mixed. We continue to recommend caution as the Pound is still prone to sudden moves.

Fundamental Outlook

Another MPC member, Jon Cunliffe, will testify today at 9:00 am GMT before the Financial Affairs Sub-Committee. Because the topic is Brexit’s effect on the financial scene, we expect this speech to create a higher impact than Saunders’ testimony that took place yesterday. Also, the FOMC Meeting Minutes will have a direct impact on the pair’s movement.
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: US DOLLAR STRENGTHENED BY FOMC MINUTES, BEARS MAINTAIN CONTROL


EUR/USD


Forex News: The US Dollar strengthened ahead of the FOMC Meeting minutes and once the document was released, price action became mixed. According to the Minutes, the FOMC members see a rate hike sooner rather than later, so we expect to see more US Dollar strength in the near future.

[Image: QnZzy99.jpg]

Technical Outlook

The pair is hovering around the minor support at 1.1025, with both the Stochastic and Relative Strength Index in oversold territory. Also, price travelled a long distance without a retracement so we expect small moves up, followed by another drop that will likely reach the support at 1.0960. The hawkish stance of the FOMC strengthens this bias.

Fundamental Outlook

The only notable indicator released today is the U.S. Unemployment Claims, scheduled at 12:30 pm GMT. It shows the number of people who asked for unemployment related benefits during the previous week but because it’s frequency is high (weekly), its impact is often mild. Nonetheless, numbers above the forecast 252K are usually detrimental for the US Dollar.


GBP/USD

The pair broke immediate support and then retraced higher ahead of the FOMC release, which didn’t generate a clear direction. Overall the Pound is still vulnerable and under bearish pressure.

[Image: LhQFStl.jpg]

Technical Outlook

Even if the US Dollar strength generated by the hawkish tone of the FOMC Minutes was not immediately seen, we expect the effect to kick in and to drive the pair lower. For now we have another low created at 1.2090, which will act as support and target for today’s price action. If the pair moves above 1.2227 (1.2230), more bulls will probably join in and will take price higher; however, for the time being our bias remains bearish and moves north are regarded as retracements, not reversals.

Fundamental Outlook

Bank of England Governor Mark Carney will deliver a speech today, at a forum in Birmingham but the exact time of the event is not yet known. This is definitely an event that could spark volatility on Pound related pairs and the lack of information regarding the scheduled time makes it even more “dangerous”.
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: EUROPEAN FINAL CPI – TODAY’S PRICE ACTION CATALYST


EUR/USD


Forex News: The U.S. economic data released Friday was mostly positive and helped the US Dollar to strengthen against the Euro, generating a bearish move after a small retracement.

[Image: zafxxIj.jpg]

Technical Outlook

The retracement seen Friday confirmed 1.1060 as resistance and now we expect the pair to move into 1.0955 and maybe 1.0900 later in the week. Once price gets to 1.0955, it’s very likely to see another bounce higher because the Relative Strength Index is already oversold, but this potential climb should be followed by another drop; 1.0985 may turn into minor resistance.

Fundamental Outlook

The final version of the European Consumer Price Index comes out today at 9:00 am GMT, with an anticipated change of 0.4%. This is the main gauge of inflation but the Final version tends to have the lowest impact. Nonetheless, higher numbers can strengthen the Euro to a limited extent.


GBP/USD

Friday the pair continued to move sideways and remained inside a horizontal channel. Volatility was lower than the previous days and it seems like price is about to enter a ranging period. 

[Image: H40j35A.jpg]

Technical Outlook

The horizontal channel created by 1.2325 resistance and 1.2090 support is likely to contain today’s price action. However, if the channel is broken to the upside, then the 50 period Exponential Moving Average will offer resistance and will probably push the pair lower. If the pair breaks 1.2090 we don’t have any immediate support so price is likely to stop once the oscillators become oversold again.

Fundamental Outlook

The United Kingdom didn’t schedule major news releases today so we expect price action to be mainly influenced 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: POUND PUSHES HIGHER, FUELLED BY IMPROVING INFLATION


EUR/USD


Forex News: The CORE version of the U.S. Consumer Price Index showed a slightly lower value than analysts had anticipated and this created a brief period of US Dollar weakness. Soon after, the greenback strengthened and the pair had an overall bearish session yesterday.

[Image: 0xElnsT.jpg]

Technical Outlook

Price completed a bullish retracement and is now headed towards the support around 1.0955. The bears are in control of short term price action but the Relative Strength Index is approaching oversold for the third time in a relatively short period and this suggests that once 1.0955 area is reached, we may see a stronger move up. The Exponential Moving Average will offer the first resistance zone.

Fundamental Outlook

The U.S. Building Permits are released today at 12:30 pm GMT and expected to show a number of 1.17M (annualized). A higher number of permits means that the construction sector will see increased activity in the near future and this usually strengthens the US Dollar but the impact is often medium.


GBP/USD

The British CPI showed an optimistic value of 1.0%, higher than analysts’ expectations and this was the main reason why the Pound gained yesterday.

[Image: y5R7Yrl.jpg]

Technical Outlook

The pair is approaching the 50 period Exponential Moving Average and the resistance at 1.2325. Once this zone is reached, we expect the bullish action to stall and even reverse. The pair is in a downtrend and as long as it is trading below resistance and below the 50 EMA, we favour the short side. A break of this resistance zone will open the door for a move into 1.2480.

Fundamental Outlook

The British Claimant Count Change comes out today at 8:30 am GMT, offering insights into the British unemployment situation. The forecast is a change of 3.4K compared to the previous month and higher numbers are detrimental for the Pound because they show that more people asked for unemployment related benefits.
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 RATE, BRITISH RETAIL SALES – A FULL DAY AHEAD


EUR/USD


Forex News: Overall the pair had a slow day yesterday and neither side was in clear control. The U.S. Building Permits showed a larger number than forecast and this strengthened the US Dollar but to a limited extent.

[Image: drDkgcR.jpg]

Technical Outlook

The picture remains bearish but it looks like now the pair is deciding the next direction. The support at 1.0955 was almost touched, without being seriously threatened but as long as the pair is printing lower lows, lower highs and is trading below the 50 period Exponential Moving Average, we favour the short side. Today’s direction will be mainly affected by the ECB Meeting so the technical will be secondary.

Fundamental Outlook

At 11:45 am GMT the ECB will announce the interest rate. No change is expected from the current 0.00% but the event usually creates volatility anyway. Later at 12:30 pm GMT, ECB President Mario Draghi will hold a press conference during which he will discuss the reasons that determined the rate decision and then will answer journalists’ questions.

This second part of the conference is usually when volatility surges and the Euro is prone to sudden changes of direction, depending on the President’s attitude and answers. We recommend caution if trading at the time.


GBP/USD

The British Claimant Count Change showed that fewer people applied for unemployment-related benefits and this slightly strengthened the Pound.

[Image: gREY2ot.jpg]

Technical Outlook

The pair hovered close to 1.2325 resistance for the most part of yesterday’s trading session and now the Stochastic has entered overbought, increasing the chances of a bounce lower. The 50 period Exponential Moving Average is also in close vicinity and will offer resistance. A break of 1.2325 will open the door for 1.2480, while a bounce will make 1.2090 the first target.

Fundamental Outlook

The British Retail Sales are today’s main highlight for the Pound. The release is scheduled at 8:30 am GMT and the forecast is a change of 0.3% compared to the previous -0.2%. Higher numbers usually strengthen the Pound given that sales made at retail levels represent the main part of the entire consumer spending.
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: EURO SHOWS MIXED REACTION AFTER ECB, US DOLLAR ENDS THE WEEK IN CONTROL


EUR/USD


Forex News: The ECB left the rate unchanged at 0.00% and Mario Draghi’s press conference triggered erratic movement. The initial Euro strength soon faded and the Dollar broke support.

[Image: Q2mcoac.jpg]

Technical Outlook

The initial climb found resistance at the 50 period Exponential Moving Average and soon after, the pair broke the support at 1.0955. If the bears can keep price below this level, we will probably see a move closer to 1.0900 but we must note that the Relative Strength Index and Stochastic are approaching oversold and this may favour bullish retracements.

Fundamental Outlook

Today is the second day of the European Economic Summit and this may be a reason for increased volatility but other than that, there’s nothing major on the economic calendar.


GBP/USD

The British Retail Sales numbers came out below analysts’ expectations and this weakened the Pound, generating a bearish session and a bounce at resistance.

[Image: SfHV4qF.jpg]

Technical Outlook

The pair found resistance at the 50 period Exponential Moving Average and 1.2325 level. The Pound is also weakened by disappointing economic data so we may see a drop closer to 1.2090. Both oscillators are pointing downwards and the pair is in a downtrend, thus increasing the chances of a move lower. As long as the pair is trading below resistance and below the 50 EMA, our bias is bearish.

Fundamental Outlook

The United Kingdom didn’t schedule any major economic releases but the European Economic Summit can affect the Pound so we recommend caution.

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:


Forum Jump:


Users browsing this thread: 1 Guest(s)