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

Thread Rating:
  • 1 Vote(s) - 5 Average
  • 1
  • 2
  • 3
  • 4
  • 5
GDMFX - Weekly News
#91
FOREX TECHNICAL ANALYSIS: US DOLLAR ASSAULTS SUPPORT LEVELS. BOUNCE-OR-BREAK SCENARIOS IN PLAY


EUR/USD



Forex Technical Analysis: The bears started last week strong and they maintained control over the pair for the entire period. The resistance at 1.1450 was too strong to break and a bounce generated a drop of more than 400 pips.

[Image: kuP9SK8.jpg]

Technical Outlook

Important types of support were broken last week: the 50 period Exported Moving Average on a Daily chart, the bullish trend line and the horizontal level at 1.1100. This puts the control on the bears’ side but it’s important to note that currently price reached a support zone created between 1.1100 and 1.1000. If the pair travels below this zone, we are likely to see further downside movement, with 1.0720 being the first target. Both oscillators are well directed, suggesting that such a move is possible but a bounce back above the 50 EMA and 1.1100 may invalidate such scenario.

Fundamental Outlook

Monday most European banks are closed in observance of Whit Monday and US banks are closed due to Memorial Day so we expect a slow or irregular trading session. Tuesday the dollar will be affected by the release of the US Durable Goods Orders and later in the day by a Consumer Confidence survey while Wednesday the main event will be the G7 (Group of 7) Meetings which will probably have a strong impact on both the euro and the dollar. The meetings will continue Thursday and Friday; the rest of the events which will have an effect on the pair are the US Unemployment Claims released Thursday and the German Retail Sales scheduled Friday.


GBP/USD

Although last week was bearish, the Pound benefited from a better than expected value of the British Retail Sales which generated some strength. The climb was erased Friday when the US inflation data came out.

[Image: EE0ogbZ.jpg]

Technical Outlook

The bullish trend line on a Daily chart was broken but the Pound still has enough strength for another bullish push. However, as long as price remains under 1.5550, the picture is bearish and we expect a move south into the 50 days Exponential Moving Average. Both oscillators are coming out of overbought territory and show good momentum, increasing the chances of such a drop.

Fundamental Outlook

Monday British banks are closed celebrating Spring Bank Holiday so the fundamental scene is calm. In fact the entire week is slow, with the only notable release being the Second Estimate of the British Gross Domestic Product scheduled Thursday. The United Kingdom is part of the Group of 7 so the Pound will be affected by the G7 Meetings.
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:
#92
FOREX TECHNICAL ANALYSIS: WILD WEEK AHEAD AS THE MARKETS BRACE FOR HUGE IMPACT


EUR/USD


Forex Technical Analysis: Last week finished with price at almost the same level it started as the bears controlled the first part and the bulls took over in the second part of the period. The euro was weakened by Greek crisis concerns while the US Dollar was hit by a disappointing GDP.

[Image: f2VLww4.jpg]

Technical Outlook

We saw an almost perfect bounce at 1.0820 support which generated a move into 1.1000 resistance. As mentioned before, we consider 1.1000 – 1.1100 a zone of resistance which may push price lower. The daily 50 period Exponential Moving Average is also present into the mentioned zone, giving it more strength, so we are dealing with strong resistance and a break would show that bulls are ready to resume the medium term uptrend. Otherwise, 1.0820 is the first destination, followed by 1.0720.

Fundamental Outlook

The first important release of the week comes Monday in the form of the German Consumer Price Index which is the main gauge of inflation; later in the day, U.S. Manufacturing data is released, offering insights into the health of the American economy. Tuesday European inflation takes center stage as the Euro Zone CPI comes out.

Wednesday the ECB will announce the interest rate and ECB President Mario Draghi will hold a press conference which is usually a huge market mover so caution is recommended if trading at the time. The same day the ADP Non-Farm Employment Change is released, offering an early look at employment in the United States. However, this report which is released by a privately owned company doesn’t have such a huge impact as the government data released 2 days later.

Thursday is a slow day in terms of economic announcements but Friday the U.S. Non-Farm Employment Change (Non-Farm Payrolls) is released. This report shows how many new jobs were created during the previous month and usually has a tremendous impact on the greenback.


GBP/USD

The Pound weakened throughout last week on lower than expected British Gross Domestic Product data and the pair descended steadily into the 50 period Exponential Moving Average.

[Image: vRBhz7f.jpg]

Technical Outlook

Once the pair moved below the bullish trend line and below the support at 1.5500, more bears joined in and managed to take control. Currently price is testing the 50 period Exponential Moving Average on a Daily chart and this could be a major turning point for medium term price direction: a move below the EMA would open the door for a move into 1.5000 zone of support while a rejection would most likely take the pair back into 1.5500 resistance.

Fundamental Outlook

Three Purchasing Managers’ Indexes are released throughout the first three days of the week: the first one is the Manufacturing PMI, released Monday and followed Tuesday by the Construction PMI. The last survey is the Services PMI, released Wednesday. These are all leading indicators of economic health and higher numbers are usually beneficial for the Pound.

Thursday the Bank of England will announce the interest rate but no change is anticipated so the event will most likely have just a mild impact.
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:
#93
FOREX TECHNICAL ANALYSIS: CURRENCY WARS: TWO GIANTS COLLIDE


EUR/USD


Forex Technical Analysis: Last week’s price action was bullish on the back of an optimistic attitude shown by ECB President Mario Draghi and constructive talks regarding the Greek debt crisis. The NFP release brought US Dollar strength and took the pair lower for the end of the week.

[Image: FTBfHHm.jpg]

Technical Outlook

The resistance zone created between 1.1000 and 1.1100 was breached during the week and the pair approached 1.1450 with good momentum but stopped before reaching this level. The greenback strengthened on better than expected jobs data and now price returned to test the 50 period Exponential Moving Average and the level at 1.1100 which may turn into support, generating a bounce higher. If the pair moves below these two types of support, we expect another move towards 1.0820.

Fundamental Outlook

Economic news releases will be scarce during the week ahead but here are the most important events: Monday the Group of Seven (G7) meetings will continue (first day of the meetings is Sunday), with the Greek debt problem being one of the main topics. This can have a strong impact on the euro but the direction will depend on the outcome of the talks. It is important to note that the week may open with a gap influenced by the Sunday talks.

Tuesday and Wednesday are slow days for the euro and dollar so the technical side will take center stage. Thursday the greenback will be heavily affected by the U.S. Retail Sales which represent an important part of overall consumer spending, which in turn makes up for a large part of the entire economic activity. Keep an eye on the CORE version of the indicator (excludes automobile sales from calculation), released at the same time.

Friday the U.S. Producer Price Index comes out, showing changes in the price charged by producers for their goods. This indicator has inflationary implications because a higher price charged by producers will be eventually passed on to the consumer. The same day, the University of Michigan will release their Consumer Sentiment survey which is a leading indicator of consumer spending.


GBP/USD

The pair moved without strong momentum last week as British economic data was mixed, generating choppy price action. The NFP release initially took the pair lower but most of the dollar gains were erased after the first impulse.

[Image: EqMoS1F.jpg]

Technical Outlook

The pair moved above and below the 50 period Exponential Moving Average for almost the entire week, without clear direction. The last couple of daily candles also show indecision (long upper and lower wicks) and the EMA is flat. All this makes our bias neutral for the pair until a clear move is made in either direction. The Stochastic is coming out of oversold and this is a bullish sign but as we saw on numerous occasions, this indicator can spend a lot of time in oversold or overbought territory.

Fundamental Outlook

Representatives of the United Kingdom will attend the G7 meetings Monday so the Pound may be affected by the talks. Tuesday’s only notable British release is the Trade Balance (value difference between imported and exported goods) while Wednesday is the busiest day of the week for the Pound: the Manufacturing Production numbers are made public, an estimate of the British Gross Domestic Product is released and late in the day, Bank of England Governor Mark Carney will deliver a speech at the Annual Mansion House Dinner. No other major events are scheduled for the rest of the week.
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:
#94
FOREX TECHNICAL ANALYSIS: BRACING FOR IMPACT: FED INTEREST RATE AND CLUES ABOUT NEXT HIKE


EUR/USD


Last week the pair bounced above support but major resistance wasn’t threatened and price turned lower, affected by continued Greek debt concerns.

[Image: 9g42wE4.jpg]

Technical Outlook

The level located at 1.1100 offered good support but the euro couldn’t sustain a climb into 1.1450 key resistance; however the pair is still trading above a bullish trend line and above the 50 period Exponential Moving Average so the outlook is positive at the moment, anticipating another attempt to touch 1.1450. Price direction for the week ahead will be heavily influenced by the Fed’s stance regarding the next rate hike and the U.S. currency is likely to strengthen substantially if clues are offered about a September rate change.

Fundamental Outlook

ECB President Mario Draghi will testify on monetary policy Monday, before the European Parliament. This will most likely be the day’s main event and the euro will probably react strongly, depending on Draghi’s attitude and answers. The German ZEW Economic Sentiment is Tuesday’s euro highlight, while the U.S. Building Permits will affect the US Dollar.

Wednesday is the busiest day of the week for the US Dollar as the Fed will announce the interest rate and the FOMC will issue a Rate Statement, Economic Projections for the next two years and a Press Conference will follow. Fed Chair Janet Yellen will speak during the conference and will answer journalists’ questions, probably triggering sharp moves on US Dollar pairs.

Thursday we will take a look at American inflation as the Consumer Price Index is released and the week ends Friday with the ECOFIN Meetings, attended by finance ministers from the European Union member states.


GBP/USD

The pair had a bullish week, breaking out of the range it was in and touching important resistance on the back of positive British economic data.

[Image: PZNX0zT.jpg]

Technical Outlook

Price moved above at 1.5500 resistance, with the Stochastic being still bullish and with good support offered by the 50 period Exponential Moving Average. These factors suggest that we are dealing with a true break of 1.5500 and a potential move towards the zone around 1.5800. First confirmed support is represented by the moving average but a lot will depend on the important data released throughout the week for both the US Dollar and the Pound.

Fundamental Outlook

The first major Pound affecting event is the release of the British Consumer Price Index which is the main gauge of inflation. The indicator comes out Tuesday and is followed Wednesday by the Claimant Count Change (change in the number of people who applied for unemployment related benefits) and by the Official Bank Rate votes which will show if there are any changes regarding the interest rate in the stance of the members of the Monetary Policy Committee. The last release of the week comes out Thursday in the form of the British Retail Sales which can strongly move the Pound because sales made at retail levels represent a hefty part of overall economic activity. As always, the U.S. events will directly affect the pair.
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:
#95
FOREX TECHNICAL ANALYSIS: CURRENCY MASH UP: NEW DEVELOPMENTS IN GREEK CRISIS, FED INTEREST RATE


EUR/USD


Forex Technical Analysis: United States’ currency declined for a third week against the euro and key resistance was threatened as the Fed lower the expectations for a rate hike; however, the Eurozone is dealing with its own problems and overall the pair’s movement is choppy.

[Image: 65pWw1Z.jpg]

Technical Outlook

The resistance at 1.1450 is an important hurdle which if surpassed will most likely bring in additional buyers. Price is trading above the 50 period Exponential Moving Average and above a bullish trend line but as long as resistance is not broken, reversals are a distinct possibility. On a daily chart price lacks momentum and candles show long wicks which is a sign of weakness and this suggests that a move south is in order if 1.1450 is not broken soon.

Fundamental Outlook

Eurogroup and International Monetary Fund representatives including ECB President and IMF Managing Director Christine Lagarde will meet Monday in another attempt to put an end to the Greek negotiations regarding a potential default on Greek loans. The Forex market will be heavily affected by the outcome of the talks and we expect a very volatile session.

Tuesday Federal Open Market Committee member Jerome Powell will speak about Fed’s decision regarding the rate hike. Hopefully he will shed some light on the timing of such a hike and if this is the case, the US Dollar will react strongly.

Wednesday the currency market will be influenced by the German IFO Business Climate, a survey of about 7,000 businesses across Germany, which asks respondents to rate current economic conditions and to offer their expectations for the next 6-month expectations. The same day the Final version of the American GDP is released; although this version has the lowest impact out of the three, the release can still have a hefty influence on the greenback. The final two days of the week lack major events so probably the direction established in the beginning of the week will prevail.

GBP/USD

The Pound benefited from optimistic economic data last week – an increase in wages and in retail sales – so the pair climbed above 1.5800 zone of resistance. A weak Dollar had almost no answer and the entire week was bullish.

[Image: 7tg1upJ.jpg]

Technical Outlook

Resistance is broken but the Relative Strength Index and the Stochastic both show overbought conditions, making us anticipate a move lower which will find support at 1.5800. A break of this potential support zone would imply that a deeper retracement is coming but we expect bullish price action to continue after bearish pullbacks. The Eurozone fundamental scene will have a deep impact on price action this week.

Fundamental Outlook

The United Kingdom didn’t schedule major news releases for the week ahead and the only notable indicators are the CBI Industrial Order Expectations (Tuesday), The Mortgage Approvals (Wednesday) and a speech of Governor Carney scheduled Friday. Except for the speech the indicators are considered low-impact but surprising numbers can still move the pair.
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:
#96
FOREX TECHNICAL ANALYSIS: DEADLOCKS, DEADLINES AND THE 4TH OF JULY


EUR/USD


Forex Technical Analysis: Last week was characterized by extremely choppy price behavior on all but one of the trading days. The deadlock between Greece and its creditors was still not solved and now Prime Minister Tspiras is making plans for a referendum which will show the Greek people’s opinion on accepting or refusing the creditors’ demands.

[Image: hnurweF.jpg]

Technical Outlook

Price action is still governed by the Greek debt crisis as we saw last week. The pair is just moving back and forth in a tight range but this is probably going to end this week, especially because the 30th of June is the deadline for a part of the Greek debt to be paid. The 50 period Exponential Moving Average, the bullish trend line and the support at 1.1100 form a confluence zone which, if broken, will generate an extended move lower. On the other hand, a bounce here would open the door for a touch of 1.1450.

Fundamental Outlook

The first event of the week is the release of the German Preliminary Consumer Price Index, scheduled Monday and followed Tuesday by the Eurozone Consumer Price Index. These are gauges of inflation and as we know, the ECB considers current levels too low and tries to raise them for some time now. The U.S. Consumer Confidence survey is released Tuesday as well; this is a leading indicator of consumer spending because as long as people are confident about economic conditions, they spend more.

Wednesday’s main event is the release of the U.S. Manufacturing PMI which is a survey of about 400 purchasing managers from the manufacturing sector which acts as a leading indicator of economic health. The release with the highest impact of the week will be the U.S. Non-Farm Employment Change, scheduled Thursday. This is considered by far the most important jobs related data for the American economy and almost always has a huge impact on the US Dollar. Usually it is released in the first Friday of the month but this Friday the United States celebrate Independence Day so the NFP is released one day earlier.


GBP/USD

The Pound had a bearish week, retracing below 1.5800 and negating what seemed to be a clean bullish break of the mentioned level. The last few days were characterized by jerky movement, affected to some extent by the Greek deadlock.

[Image: D0fa1dF.jpg]

Technical Outlook

If the pair remains below 1.5800 and the level turns into resistance once again, we expect another week of bearish price action. The Stochastic has crossed downwards, coming out of overbought territory and the Relative Strength Index is also coming down after reaching overbought, increasing the chances of bearish movement. However, keep in mind that from a medium term perspective, the pair is in an uptrend.

Fundamental Outlook

United Kingdom’s Current Account (difference in value between imported and exported goods) is released Tuesday, followed Wednesday by the Manufacturing PMI, Thursday by the Construction PMI and Friday by the Services PMI. These are leading indicators of economic health, derived from the opinions of purchasing managers from the respective sectors; the impact on the Pound differs, depending on the difference between forecast and actual numbers. As always the U.S. events will have a direct impact on the movement of the pair.
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:
#97
WEEKLY ANALYSIS: IN THE SHADOW OF THE BAILOUT VOTE


EUR/USD


Last week was characterized by irregular movement as Greece failed to meet a deadline for an International Monetary Fund loan payout and the Greek Prime Minister called for a bailout referendum that will probably affect this week’s movement.

[Image: LMrjyJs.jpg]

Technical Outlook

The Greek referendum will influence the week’s price action but currently our view is neutral considering the delicate geopolitical environment. If the zone between 1.1100 and 1.1000 can be broken decisively, we might experience an extended move towards 1.0820, otherwise the resistance at 1.1450 is the next target.

Fundamental Outlook

Monday’s headline is the release of the U.S. Non-Manufacturing PMI which is a leading indicator of economic health based on the opinions of purchasing managers outside the manufacturing sector. Tuesday the U.S. Trade Balance comes out, showing the difference in value between imported and exported goods, but Wednesday will probably be the most important day of the week for the greenback as the Fed will release their Meeting Minutes. The next rate hike remains a crucial issue for the dollar trend and the Minutes can contain clues about a potential increase.

The last two days of the week are slow but Friday Fed Chair Yellen will deliver a speech about economic outlook, possibly generating strong movement.


GBP/USD

Overall we had bearish price action last week and the pair managed to break the upwards trend line, approaching the 50 period Exponential Moving Average.

[Image: rIsWCXW.jpg]

Technical Outlook

Price is approaching 1.5500 and the 50 period Exponential Moving Average which will act as a support barrier. If this zone can be broken early during the week, the move might extend into 1.5200 but a quick move above the bullish trend line will make 1.5800 the first target. The oscillators are still bearish, increasing the chances of a move south.

Fundamental Outlook

The British Manufacturing Production is released Tuesday and the same day an estimate of the Gross Domestic Product comes out. The accuracy of this estimated value is usually high and so is the impact on the Pound. The BOE will announce Thursday the Official Bank Rate but no change is expected from the current 0.50% so the impact will be limited unless surprises occur.
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:
#98
WEEKLY ANALYSIS: GREECE’S BUMPY JOURNEY STILL NOT OVER


EUR/USD


Weekly Analysis: At the end of a back and forth week, filled with reversals and choppy price action, Greek Prime Minister Tsipras presented his creditors and European Leaders with a bailout proposal that could end the deadlock and unlock additional funds.

[Image: nRoP2rv.jpg]

Technical Outlook

The bailout proposal still has to get approval from EU Leaders and creditors (not approved at the time of writing) and the effects will most likely reverberate throughout this week’s price action. An end of this showdown may strengthen the euro and take the pair above 1.1450 but the first barrier is represented by the bullish trend line which can offer resistance if touched from below. To the downside, support is located between 1.1100 – 1.1000, followed by 1.0820.

Fundamental Outlook

Monday’s price action will be probably governed by the results of Greek negotiations and Tuesday’s main event on the euro side will be the release of the German ZEW Economic Sentiment, which is a survey derived from the opinions of about 275 analysts and professional investors regarding the 6-month outlook for German economy. The same day the U.S. Retail Sales are released, with a potentially high impact on the American Dollar considering that sales made at retail levels represent the major part of overall consumer spending.

Wednesday Fed Chair Yellen will testify on monetary policy before the House Financial Services Committee and Thursday she will do the same but before the Senate Banking Committee, in Washington DC. The same day the ECB will announce the interest rate which is not expected to change but Mario Draghi’s press conference that follows will most likely create a lot of volatility.

Friday the U.S. Consumer Price Index comes out, followed later in the day by the University Of Michigan Consumer Sentiment survey. All indicators and events are considered high impact so the greenback is set for a busy week.


GBP/USD

Last week the pair remained below the bullish trend line and moved below support but most of the bearish advances were erased during the last day of the week.

[Image: oWScCDg.jpg]

Technical Outlook

The latest climb can be considered a re-test of the recently broken support which could now turn into resistance. The 50 period Exponential Moving Average is also close to current price and will offer some resistance but the oscillators show bullish signs so we might see a breakout above 1.5500. If this is the case, the first resistance is located around 1.5800.

Fundamental Outlook

The week ahead is slow in terms of economic releases, with the only notable events being the British Consumer Price Index scheduled Tuesday and the Claimant Count Change scheduled Wednesday. The first indicator measures inflation while the second tracks changes in the number of unemployed people and both are considered to have a high impact on the Pound. As always, the U.S. events will have a direct and strong impact on the pair throughout the week.
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:
#99
FOREX TECHNICAL ANALYSIS: BEARS, BULLS AND A PINCH OF GREEK BAILOUT DISTRESS


EUR/USD


Without a doubt the biggest event of the last week was the agreement on a third Greek bailout, which came after months of tension and back and forth talks. However, the euro lost its appeal to traders and the pair traveled south the entire week.

[Image: yDmhrKC.jpg]

Technical Outlook

The downside momentum seen last week is likely to continue throughout this week but the bears must first break the support at 1.0820. Lately the pair’s movement has been very choppy so we might see a bounce or a break but we slightly favor the south side considering that the Euro Zone is shaken by the Greek crisis and both the Stochastic and Relative Strength Index are well directed downwards without being oversold. If 1.0820 is surpassed the next target is 1.0660 while to the upside, 1.1000 is the first resistance.

Fundamental Outlook

The week ahead is very slow in terms of macroeconomic indicator releases, with the first 2 days being almost completely quiet. Wednesday the U.S. Existing Home Sales come out, showing the annualized numbers of houses sold during the previous month (excluding new buildings). Thursday the U.S. Unemployment Claims cone out as usual, tracking changes in the number of jobless people in the United States.

Friday will be the busiest day of the week as the German Manufacturing PMI is released and later in the day the U.S. Manufacturing PMI comes out. These are leading indicators of economic health based on the opinions of purchasing managers from the manufacturing sector and usually a higher number is beneficial for the currency but the impact is limited if the actual number is close to analysts’ expectations. The same day the U.S. New Home Sales are released, offering further insights into the American house market.


GBP/USD

The Pound strengthened last week when Bank of England Governor Mark Carney mentioned that a rate hike may be closer than expected but the impulse couldn’t be continued and the rest of the week lacked substantial movement.

[Image: ngJFsS1.jpg]

Technical Outlook

The pair is now trading above 1.5500 and above the 50 period Exponential Moving Average so the bulls have more control than the bears, making us anticipate further upside movement, possibly into the resistance at 1.5800. The candles corresponding to the last three trading days show long wicks on both sides, suggesting indecision; probably during the first days of the week we will see a strong move which will decide the direction for the week.

Fundamental Outlook

Similar to the euro and the dollar, the pound has a slow economic week, with the busiest days being Wednesday when the Bank of England will release the breakdown of the votes on the latest interest rate and Thursday when the Retail Sales come out. A major part of the overall economic activity is represented by sales made at retail level, hence more sales suggest a thriving economy and usually strengthen the pound. As always, the U.S. events will have a direct impact on the pair’s 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:
WEEKLY ANALYSIS: BIG WEEK FOR THE U.S. DOLLAR – ALL EYES ON FED’S MEETING


EUR/USD


Weekly Analysis: Last week the pair bounced at 1.0820 but price action lacked momentum and the bulls didn’t manage to break first resistance.

[Image: EJsABeA.jpg]

Technical Outlook

The pair is still standing below the 50 period Exponential Moving Average and below the resistance zone created between 1.1000 and 1.1100. Also, the bearish trend line seen on the chart above can provide good resistance if touched so we are dealing with a strong confluence zone which will be tough to break to the upside. If a break does occur, the next level of interest is 1.1450 and a bounce lower would make 1.0820 the first target, followed by 1.0660.

Fundamental Outlook

The week ahead is busy, with the first important event being the release of the American Durable Goods Orders scheduled Monday. The indicator tracks changes in orders for goods with a life expectancy of more than 3 years; these goods are usually more expensive than regular ones and an increase in such orders suggests economic expansion, hence a stronger dollar.

Tuesday’s main event is the release of the American Consumer Confidence survey. If confidence levels increase, spending levels might increase in the future, strengthening the US Dollar so a higher value can take the pair lower. Wednesday the Fed will announce their rate decision and will issue a statement that will offer insights into the reasons which stood behind the decision. No change is expected but hints about a late 2015 rate hike may generate strong moves.

Thursday the focus remains on the US Dollar as the United States release the Advance Gross Domestic Product which is the main gauge of an economy’s overall performance. The economic week ends Friday with European inflation data in the form of the Consumer Price Index Flash Estimate. A higher value is considered beneficial for the euro and could send the pair north.


GBP/USD

The pair showed mixed price action last week, with the strongest movement being generated by a worse than expected value of the British Retail Sales which triggered Pound weakness.

[Image: jzhhCpF.jpg]

Technical Outlook

The bears are now struggling to break 1.5500 and the bullish trend line seen on the chart above. First resistance is located at 1.5765 and a break of either zone we mentioned will most likely trigger an extended move in that direction. For the moment we have a lower high on the Daily chart and the Stochastic has crossed downwards, increasing the chances of bearish moves.

Fundamental Outlook

The British Preliminary Gross Domestic Product is the week’s only notable release on the Pound side. It’s scheduled Tuesday and a hefty increase is anticipated so we might see strong movement on the pound-dollar pair. As always, the U.S. events will have a direct impact on the pair’s behavior.
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)