Technical News | GDMFX Brokerage

[pasfx]

2014.26.12 : Forex News: The market resumes movement

EUR/USD

Forex News: The market was closed yesterday, so price didn’t show any activity and no economic news came out.

Technical Outlook


Even though the market is open today, we still expect price action to be irregular and choppy. The short term resistance at 1.2220 is holding and price bounced lower once it touched it so we expect some downside price action, with 1.2165 being the first minor support.


Fundamental Outlook

Many banks around the world are still closed and no economic indicators are released, a fact which contributes to the day’s low volume and irregular volatility.


GBP/USD

The pair stopped yesterday and no movement was seen as many people around the world celebrated the Christmas Holiday.

Technical Outlook

Wednesday price moved above the level at 1.5540 but we cannot consider this to be a true break as it could be generated by low volume and might not be a real attempt of the bulls to take control of the pair. The main levels to watch today are located at 1.5540 and 1.5590 but keep in mind that price action could be characterized by sharp turns and alternating volatility.

Fundamental Outlook

The United Kingdom didn’t schedule any news releases and British banks are closed today, a fact which will add to the day’s irregular price action.

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.

 

[pasfx]

2014.12.29:Forex News: Irregular price action on the back of a lackluster fundamental environment

EUR/USD

Forex News: Friday the market resumed movement after being paused for Christmas and the pair moved lower, following a bounce on resistance. Overall we had a slow session, with price traveling in a single direction.

Technical Outlook
For the time being price is confined between 1.2165 support and 1.2220 resistance and a break of either one may trigger and extended move in that direction but considering the approaching of the New Year and the lack of economic releases, we may also see false breaks. It’s possible for price to move outside one of the levels but then to run out of steam and return inside, so extra caution is recommended if you are going to trade breakouts.

Fundamental Outlook
The day lacks important news releases and we expect choppy price action, with low volume and irregular volatility.

GBP/USD

The pair had a very slow day Friday, with price moving very close to the 50 period Exponential Moving Average which remained flat for the entire day.

Technical Outlook
Today we will probably see either a bounce higher off of 1.5540, or a bearish break and a consequent move towards the minor support at 1.5485. However, the first move is likely to be reversed, so wait for a re-test before trading if a break does occur. Keep in mind that price is flat and Friday’s movement doesn’t show a lot about future direction.

Fundamental Outlook
The United Kingdom didn’t schedule any economic releases for the day, contributing to the lackluster fundamental scene.

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.

Skype : gdmfxindonesia
Indonesia Email Support: indo.support@gdmfx.com​

 

[pasfx]

2014.30.12 : Forex News: US Consumer Confidence survey holds center stage

EUR/USD

Forex News: Yesterday, after bouncing higher off of 1.2165 support, the pair headed higher and touched short term resistance but price remained confined inside the horizontal channel for the entire day.

Technical Outlook


Under normal market conditions we would expect a move outside the horizontal channel created by 1.2220 resistance and 1.2165 support but given the fact that volume is low and price action irregular, we consider that any breakouts will turn out to be false. In other words, after a move outside the channel, price is likely to return inside it, but keep in mind that technical analysis is less efficient during this period.The only notable event of the day is the release of the American Consumer Confidence survey scheduled at 3:00 pm GMT. The expected figure is 94.6, an increase from last month’s 88.7 and usually such a climb would strengthen the US Dollar because increased consumer confidence often means that consumer spending will increase in the near future.


GBP/USD

The Pound came close to 1.5590 resistance yesterday before starting to drop. Currently the pair is trading below 1.5540 and the bears have won the short term battle.

Technical Outlook

Although price moved below the short term support at 1.5540, we might easily see a return above it, or at least a re-test if price is indeed headed south. If the re-test results in a bounce lower, the first support is located at 1.5485 but keep an eye out for any oversold condition signaled by the Relative Strength Index as this could generate a move higher. The 50 period Exponential Moving Average will offer dynamic resistance if touched from below.

Fundamental Outlook

There are no important economic or financial indicators released by the United Kingdom, so price action will be decided by the technical aspect and by the US Consumer Confidence survey.

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.

 

[pasfx]

2014.31.12 : Forex News: Trading slows down for New Year’s Eve

EUR/USD

Forex News: Yesterday’s price action was rather slow, a fact determined by the approaching of the New Year’s Eve and by US consumer confidence data which posted a reading close to analysts’ expectations.

Technical Outlook


Today is the last day of the year and trading will be heavily influenced by this fact. We expect sudden drops and surges in volatility, with potentially sharp whipsaws on the back of low volume. The levels to watch are 1.2220 as resistance and 1.2125 as potential support. Price behavior around the current level of 1.2165 will most likely determine the next short term direction.

Fundamental Outlook

German Banks will be closed today, celebrating the New Year’s Eve and the US Dollar will be somewhat affected by the release of the Unemployment Claims scheduled at 1.30 pm GMT and expected to rise to 287K from the previous 280K. A higher value is detrimental for the US Dollar under normal conditions.


GBP/USD

Yesterday’s price action was mainly controlled by the bulls and the pair managed to climb back above 1.5540. Overall it was a normal trading session, without major developments.

Technical Outlook

Price is trading above 1.5540 and above the 50 period Exponential Moving Average, meaning that the short term bias is bullish. However, we believe that an overbought condition of the Relative Strength Index will probably generate another bearish move, with 1.5540 being the first target.

Fundamental Outlook

The British fundamental scene lacks major releases and we expect irregular price movement, mostly due to the New Year’s Eve.

We hope your year was profitable and we look forward to trading together during 2015. Have a Happy New Year!

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.

 

[pasfx]

2015.02.01 : Forex News: Trading resumes. Low volume is still present

EUR/USD

Forex News: Yesterday the market was closed as the world celebrated the first day of the New Year so price didn’t show any movement. Today the market resumes normal movement but low volume is likely to still be present.

Technical Outlook


The pair is trading below 1.2125 and below the 50 period Exponential Moving Average so the bias is bearish but the relative Strength Index is trading below the 30 level, a fact which indicates an oversold condition. This makes us believe that today we will see bullish movement but keep in mind that volume is still not back to normal so we might see irregular price action.


Fundamental Outlook

At 3:00 pm GMT the US Manufacturing PMI is released, with an expected value of 57.6, a small decrease from the previous 58.7. An even smaller value would probably weaken the US Dollar but the market might overlook this release considering it’s the first trading day of the New Year.


GBP/USD

No movement was seen yesterday and price remained confined between 1.5590 resistance and the 50 period Exponential Moving Average.

Technical Outlook

If price will have trouble breaking the 50 period Exponential Moving Average, we will probably see a move above the resistance at 1.5590 but a break of the mentioned EMA will most likely take the pair below 1.5540 support. Our bias is neutral and we consider that an extreme condition of the Relative Strength Index (above 70 or below 30) will generate a reversal move.

Fundamental Outlook

The United Kingdom will release the Manufacturing PMI at 9:30 am GMT. The forecast is 53.7, a small increase from last month’s 53.5 and higher values are usually beneficial for the Pound as this indicator is a measure of optimism among purchasing managers and acts as a leading signal of economic health.

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.

 

[pasfx]

2015.06.01 : Forex News: The market remains oversold. Retracements still expected

EUR/USD

Forex News: The market opened with a big gap and the Euro took a big hit yesterday as concern about a potential Greek separation from the European Union escalated. Speculation about ECB purchasing bonds on a large scale added to the bearish momentum.

Technical Outlook

The sudden drop seen at market open yesterday was stopped by the support at 1.1875. We expect this level to be tested again today but bullish retracements are still a distinct possibility so we might see a touch of the 50 period Exponential Moving Average on an hourly chart. On a four hour chart both the Relative Strength Index and the Stochastic (11,6,6) are moving upwards, coming from oversold territory.

Fundamental Outlook

The U.S. Non-Manufacturing PMI is released today at 3:00 pm GMT with an expected change to 58.2 from the previous 59.3. This survey is based on the opinions of about 400 purchasing managers outside of the manufacturing industry and tries to gauge their optimism regarding business and economic conditions. It acts as a leading indicator of economic health and that’s why numbers that exceed expectations are considered beneficial for the US Dollar.

GBP/USD

The pair had a huge drop which took price below 1.5260 support; the weekly gap was closed by a quick bullish move but then price dropped again on the back of a worse than expected value of the British Construction PMI.

Technical Outlook

The Relative Strength Index is struggling to move out of oversold territory but the Pound is weakening. If price doesn’t move above 1.5260 soon, we expect further downside movement but otherwise, the first target is represented by 1.5320 short term resistance. This level and the 50 period Exponential Moving Average will probably create a confluence zone which will be hard to break if price touches it.

Fundamental Outlook

At 9:30 am GMT the British Services PMI is announced; the forecast is 58.9, a small increase from last month’s 58.6. The indicator tries to measure optimism among purchasing managers from the Services sector and usually, higher than anticipated values strengthen the Pound.

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.

 

[pasfx]

2015.07.01 : Forex News: US Employment data and FOMC Meeting Minutes in the spotlight

EUR/USD

Forex News: Yesterday the pair continued to move south after a small retracement higher. Overall price action was controlled by the bears but immediate support couldn’t be broken.

Technical Outlook


Price came in close vicinity of 1.1875 support and showed rejection at this level. Both the Relative Strength Index and the Stochastic reached oversold territory and these facts make us believe that a move higher is in order. The first barrier is the 50 period Exponential Moving Average and if this resistance can be broken, the next target is 1.2040. The pair is still in a downtrend so moves south cannot be ruled out.

Fundamental Outlook

At 10:00 am GMT the European Consumer Price Index is announced and expected to change 0.0% while last month’s value was 0.3%. The CPI is the main gauge of inflation and a higher value is usually beneficial for the Euro because current inflation levels are considered too low by the ECB.

The ADP Non Farm Employment Change is released at 1:15 pm GMT and shows the change in the number of new jobs created during the previous month. However, today’s version is released by a privately owned company, not by the US Government so the impact is usually lower. The expected number is 227K, an increase from last month’s 208K and higher numbers strengthen the US Dollar. Later in the day, at 7:00 pm GMT the FOMC Meeting Minutes are released, offering details about the latest Fed Meeting.

GBP/USD

Resistance couldn’t be broken yesterday and the pair dropped on the back of Pound weakness generated by a worse than anticipated value of the Services PMI.

Technical Outlook

The bulls failed to take price above 1.5260 resistance and the rest of the day belonged to the bears. Price action created minor support around 1.5165 and a break of this level would probably take the pair into the next support, located at 1.5100. The Relative Strength Index moving upwards, coming from below 30 and this favors bullish movement.

Fundamental Outlook

The United Kingdom didn’t schedule major economic releases today so price direction will be mainly influenced by the U.S. indicators and by the technical aspect.

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.

 

[pasfx]

2015.08.01 : Forex News: Multi-year lows reached as the Dollar continues its run

EUR/USD

Forex News; Yesterday we’ve seen that European inflation is still dropping and as a result the downtrend extended further. The US employment report posted better than anticipated numbers and this added to the bears’ strength.

Technical Outlook

The FOMC Meeting Minutes created mixed reaction as the Fed mentioned that a rate hike is unlikely before April but overall price action was bearish for most of the day, moving below 1.1875. If a bullish retracement will occur, the mentioned level will probably turn into resistance and the chances of further bearish movement will be increased near this level. Immediate support sits at 1.1800.

Fundamental Outlook

European Retail Sales are released today at 10:00 am GMT with an expected change of 0.3% compared with last month’s 0.4%. Sales made at a retail level are crucial for an economy because consumer spending represents an important part of overall economic activity, thus higher numbers will generate some Euro strength.

GBP/USD

The pair broke the important support at 1.5100 and continued to move lower for most of the day. The US Dollar had mixed behavior at the time of the Meeting Minutes release.

Technical Outlook

After moving below 1.5100, the pair retraced to test the recently broken level. Now price action around this potential resistance will determine the next short term direction: a bounce will open the door for further downside action, while a move above it will probably take the pair into the immediate resistance created by the hourly 50 period Exponential Moving Average. The next psychological and technical support sits at 1.5000.

Fundamental Outlook

The Bank of England will announce the interest rate today at 12:00 pm GMT but no change is expected from the current 0.50% so, unless a huge surprise happens, the event will not create a lot of volatility.

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.

 

[pasfx]

2015.09.01 : Forex News: U.S. Non Farm Payrolls – ending the week with strong movement

EUR/USD

Forex News: Yesterday the bears remained in control of the pair but some upside pressure was seen at the time of the European Retail Sales release which posted better than expected numbers.

Technical Outlook

Both the Relative Strength Index and the Stochastic remain in the lower part of their respective windows, near oversold levels but the pair continues to slide lower. The minor support at 1.1800 was broken yesterday and now it is being tested from below; if price returns above it, the first resistance is offered by the 50 period Exponential Moving Average but keep in mind that today the technical side will be secondary to the fundamental one.

Fundamental Outlook

The day’s main event is the release of the U.S. Non Farm Employment report which is scheduled at 1:30 pm GMT and it’s considered the most important jobs related data. If more jobs are created, the economy is thriving and consumer spending will probably increase in the near future so better numbers than the expected 241K will most likely strengthen the US Dollar.

GBP/USD

The Bank of England kept the interest rate at 0.50% and the announcement didn’t create a lot of volatility. The pair made another push for 1.5000 support but failed to touch it.

Technical Outlook

The picture remains bearish, with the first resistance located at 1.5100 and support at 1.5000. Yesterday’s price action created minor support at 1.5035 and this will be the first target if 1.5100 and the 50 period Exponential Moving Average cannot be broken. The day’s price action will be heavily influenced by the fundamental scene.

Fundamental Outlook

The US Non Farm Payrolls will be the day’s headline but apart from that an important role will be played by the release of the British Manufacturing Production scheduled at 9:30 am GMT and expected to increase 0.4% from the previous -0.7%. Such an increase would be beneficial for the Pound and would take the pair higher.

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.

 

[pasfx]

2015.12.01 : Forex News: A quiet fundamental scene influences price action

EUR/USD

Forex News: The US Non Farm Payrolls posted a better than expected number but still lower than last’s month value, a fact which created mixed movement Friday at the time of the release.

Technical Outlook

The first reaction to the US jobs report was a drop which was soon reversed and the pair started to move upwards. The immediate target is represented by 1.1875; this could be a place where the bears will take back control of the pair, especially if the Relative Strength Index and the Stochastic will be coming out of overbought territory. To the downside, the first potential support is located at 1.1750.

Fundamental Outlook

The day ahead lacks major economic releases, a fact which makes us believe that we will see slow, ranging movement.

GBP/USD

Overall Friday was a bullish day, with irregular movement present at the time of the American Non Farm Employment Change report. The pair remained above 1.5100 for the entire day.

Technical Outlook

Price moved above horizontal resistance and above the 50 period Exponential Moving Average on an hourly chart, completing a much needed bullish retracement. A downtrend is still in place and this increases the chances of bearish movement with the first target being located at 1.5100, followed by 1.5035. To the upside, the first resistance sits at 1.5260.

Fundamental Outlook

The United Kingdom didn’t schedule economic releases today, so price action will be driven by the technical aspect but we don’t expect any substantial developments.

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.

 

[pasfx]

2015.01.13 :Forex News: Mixed price action ahead of the British Consumer Price Index

EUR/USD

Forex News: The fundamental scene was calm yesterday as no major news came out and price had mixed behavior, reversing a drop which occurred early in the day.

Technical Outlook
The pair moved above and below the 50 period Exponential Moving Average on an hourly chart, without clear direction although the bears made an attempt to retake control. From a short term perspective the picture is mixed and the bias neutral, with the first levels of importance being 1.1875 as resistance and 1.1750 as support. The Stochastic entered oversold territory but the Relative Strength Index doesn’t confirm it so we will not allocate a lot of importance to this bullish signal.

Fundamental Outlook
Today is a lackluster fundamental day, but a noteworthy event is the release of the U.S. JOLTS Job Openings scheduled at 3:00 pm GMT. The indicator shows the number of jobs openings, excluding the farming industry but this is a lagging indicator because it is released about 40 days after the month for which it is calculated has ended. Nonetheless, better numbers than today’s expected 4.91M can strengthen the US Dollar.

GBP/USD

Trading was mixed yesterday as the Pound weakened during the first part of the day but most of the losses were erased in the second part, after a bounce at 1.5100 support.

Technical Outlook
Short term price action created minor resistance at 1.5190 and we expect another encounter with this level considering the fact that yesterday the pair bounced immediately after a bounce at 1.5100. The Relative Strength Index doesn’t show an extreme reading and price is moving close to the 50 period Exponential Moving Average so the short term control doesn’t belong to either side but a clear downtrend is in place and a touch of 1.5190 might generate bearish action.

Fundamental Outlook
The British Consumer Price Index, which is the main gauge of inflation, will be released today at 9:30 am GMT. The expected change is 0.7% while the previous was 1.0% and such a drop will most likely trigger Pound weakness.

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.

Skype : gdmfxindonesia
Indonesia Email Support: indo.support@gdmfx.com​

 

[pasfx]

2015.01.14:Forex News: U.S. Retail Sales to influence the greenback as support still holds

EUR/USD

Forex News: The pair continued its descent yesterday on the back of a weaker Euro and short term support was touched again. Concern that the ECB will add more stimulus contributed to the pair’s bearish movement.

Technical Outlook
Price bounced higher as soon as 1.1750 support was touched, showing that bears are having difficulties breaking this level. Both the Relative Strength Index and the Stochastic are close to their respective oversold levels and are starting to move up; this, coupled with the bullish bounce seen at 1.1750 increases the chance of a move north which could find resistance at the 50 period Exponential Moving Average.

Fundamental Outlook
The U.S. Retail Sales are the day’s main event and is scheduled at 1:30 pm GMT. The expected change is 0.2% from the previous 0.7%, a fact which would be detrimental or the US Dollar because a major part of overall economic activity is represented by sales made at a retail level. Keep an eye on the CORE version of the indicator which is released at the same time but excludes automobiles from calculation.

GBP/USD

The pair had another day characterized by a sharp reversal yesterday as we saw price drop about 100 pips and then climb the same distance. British inflation dropped more than expected and this was the main reason for the initial move south.

Technical Outlook
After failing to break 1.5190 resistance, price dropped below 1.5100 but the break soon proved to be false and a bullish bounce took price back up, close to 1.5190. This is a sign that price action is ruled by indecision and the next direction is not clear until a breakout occurs. Even this break of support or resistance happens today, a safer entry would be after a successful retest of the recently broken level.

Fundamental Outlook
Bank of England Governor Mark Carney will testify today before the Treasury Select Committee; the topic is the Financial Stability Report and the testimony could bring some irregular and possibly strong movement so caution is recommended. The scheduled time is 2:15 pm GMT.



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.

Skype : gdmfxindonesia
Indonesia Email Support: indo.support@gdmfx.com​

 

[pasfx]

2014.01.15 :Forex News: Short term resistance threatened. Bounce or Break?

EUR/USD

Forex News: The U.S. Dollar took a hit yesterday as the American Retail Sales posted a much worse than expected change of -0.9%, indicating an economic slowdown. The bulls took control of the pair after a failed attempt to break 1.1750 support.

Technical Outlook
The downtrend remains intact as long as 1.1875 is resistance but it looks like the bullish pullback might continue until the mentioned level is touched. The failed break of 1.1750 shows that the downtrend was overextended and needed a “breather” in the form of a retracement higher. If the bulls cannot maintain price above the 50 period Exponential Moving Average we will most likely see another attempt to break 1.1750.

Fundamental Outlook
The U.S. Producer Price Index is released at 1:30 pm GMT and expected to change -0.3% while last month’s value was -0.2%. Higher numbers are usually beneficial for the greenback because the PPI has inflationary implications (a higher price charged by producers will be paid by the consumer eventually).

At 3:00 pm GMT the Philly Fed Manufacturing Index is released, offering information about the state of the manufacturing sector in the Philadelphia district. Higher values than the expected 20.3 are considered bullish for the US Dollar. Later in the day, at 4:15 pm GMT, Bundesbank President Weidmann will deliver a speech in Berlin and this could be a volatility trigger if the he will talk about the Euro crisis.

GBP/USD

The US Dollar weakened against the Pound as well and as a result the pair moved above resistance. Mark Carney’s testimony was almost unnoticed by market participants.

Technical Outlook
After several attempts, the pair finally broke 1.5190 resistance and continued upwards until 1.5260 was touched. Today we expect a break of either one of the mentioned levels but notice that once 1.5260 was touched, price immediately bounced lower, a fact which shows that the bears still have a lot of underlying power and that we might see a move below 1.5190.

Fundamental Outlook
The United Kingdom didn’t schedule major news releases so price action will be influenced by the U.S. events and by technical factors.

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.

Skype : gdmfxindonesia
Indonesia Email Support: indo.support@gdmfx.com​

 

[pasfx]

2015.01.16 :Forex News: Swiss National Bank’s shocking decision, likely to influence price action further

EUR/USD

Forex News: The Swiss National Bank made a shocking decision yesterday to remove the cap which kept the EUR/CHF pair at a 1.20 rate. The effect on CHF pairs was tremendous, each moving several thousand pips but the Euro was affected as well and the EUR/USD pair dropped for more than 200 pips when the news came out.

Technical Outlook
The drop took the pair to a low of 1.1569 before the entire distance was traveled back up where the move originated. At the moment price is trading close to 1.1640 support. The environment is choppy and the market is dangerous but if the bears can maintain price below 1.1640, the next destination is the low we mentioned earlier. Further downside movement is possible as the effects of SNB’s decision will most likely be seen today as well.

Fundamental Outlook
The day’s main event is scheduled at 1:30 pm GMT in the form of the U.S. Consumer Price Index. There’s no change expected from the previous -0.3% but higher values are considered beneficial for the US Dollar under normal circumstances. The last important event of the week is the release of the US Consumer Sentiment survey scheduled at 2:55 pm GMT. A small increase to 94.2 from the previous 93.6 is expected, a fact which would strengthen the greenback because consumer sentiment is correlated with consumer spending which is an important part of the economy.

GBP/USD

The SNB decision didn’t affect the GBP/USD as much but some impact was seen and the pair briefly dropped below support before heading higher, into resistance.

Technical Outlook
The resistance at 1.5260 was touched again yesterday but the pair didn’t break it and instead it headed lower. Now price is moving below 1.5190 and might be headed towards 1.5100 considering that resistance held and that a downtrend is still in place. The bias remains bearish as long as price remains below the 50 period Exponential Moving Average on an hourly chart.

Fundamental Outlook
There are no major data releases scheduled for the day ahead so we expect price action to be driven by the technical side, unless surprises occur.

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.

Skype : gdmfxindonesia
Indonesia Email Support: indo.support@gdmfx.com​

 

[pasfx]

2015.01.19 :Forex News: The calm after the storm. Price action slows down

EUR/USD

Forex News: Friday the pair continued to move lower as the market continued to be affected by Swiss National Bank’s surprise decision. Towards the end of the trading session however, some of the losses were recuperated.

Technical Outlook
The bias remains bearish as the pair is constantly printing new lows and the Euro lacks strength. A new encounter with 1.1640 is very likely but if price cannot get there today, at least the 50 period Exponential Moving Average will probably be touched. To the downside the low at 1.1460 reached Friday will offer the first support but we might see slow price action today on the back of a lackluster fundamental scene.

Fundamental Outlook
The day ahead lacks major economic releases and U.S. Banks will be closed, celebrating Martin Luther King Day. This will probably translate into low volume, especially during the American trading session.

GBP/USD

Overall Friday the bears were in control of the pair but we saw another failed attempt to break 1.5100 support. The pair is still trading in a range, without clear direction.

Technical Outlook
On an hourly chart the bears made several attempts to close price below 1.5100 and all of them resulted in moves bounces higher. If price cannot move relatively soon below this level, it would be a sign of bear weakness and we will probably see a move higher, with 1.5260 being the main resistance. Minor resistance is located at 1.5190 but lately price moved several times above and below this level, making it less important. If 1.5100 is broken, the next support is located at 1.5035.

Fundamental Outlook
The entire week is pretty slow when it comes to British economic releases and today is no exception as no major indicators are released.

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.

Skype : gdmfxindonesia
Indonesia Email Support: indo.support@gdmfx.com​

 

[pasfx]

2015.01.20 :Forex News: Bullish pressure mounts, resistance threatened

EUR/USD

Forex News: Price action was pretty slow yesterday, with a bullish bias for most of the day. However, resistance couldn’t be broken and no major economic or financial indicators were released.

Technical Outlook
Overall the picture remains bearish and we expect further moves down once the Relative Strength Index reaches overbought. The resistance at 1.1640 is the first place where trend resumption can occur but a bullish break followed by a successful re-test of this level would invalidate this scenario and would make 1.1750 the first target. To the downside, 1.1460 remains the first support.

Fundamental Outlook
The German ZEW Economic Sentiment survey will be today’s biggest release. It is scheduled at 10:00 am GMT and expected to change to 40.1 from the previous 34.9. The survey is derived from the opinions of about 275 German analysts and investors and tries to gauge their optimism regarding a 6-month outlook for the German economy; usually numbers that exceed expectations are beneficial for the single currency.

GBP/USD

The Pound-Dollar traded in a tight range for the most part of yesterday’s session and neither support nor resistance was threatened. Price remained close to the 50 period Exponential Moving Average.

Technical Outlook
Yesterday’s price action doesn’t offer a lot of clues about future direction and the same is true for the Relative Strength Index which is hovering in the middle of the 30-70 range. The next short term direction will be probably determined by the break of either 1.5190 resistance or 1.5100 support; a conservative entry would be after a re-test and a bounce off of the recently broken level.

Fundamental Outlook
The United Kingdom didn’t schedule notable economic data releases today, thus price action will be mainly driven by the technical aspect.

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.

Skype : gdmfxindonesia
Indonesia Email Support: indo.support@gdmfx.com​

 

[pasfx]

2014.01.21 :Forex News: Mixed price action ahead of ECB’s decision on quantitative easing

EUR/USD

Forex News: The pair remained confined in a tight range yesterday although the German ZEW survey posted a better than anticipated value. It looks like market participants are waiting for the ECB decision regarding the QE program before they commit too much to trading this pair.

Technical Outlook
The resistance at 1.1640 was perfectly touched but the bulls couldn’t breach it and for the rest of the day price action continued sideways. The Relative Strength Index is moving in the middle of the 30-70 range so it doesn’t offer any hints about future direction but the Stochastic is crossing downwards and price bounced at resistance. These are bearish signs so we might see additional movement south.

Fundamental Outlook
The U.S. Building Permits are released at 1:30 pm GMT and expected to slightly increase to 1.06M from the previous 1.05M. Since building a construction starts with obtaining a permit, today’s indicator offers hints about future activity in the construction sector and higher numbers usually strengthen the US Dollar.

GBP/USD

The Pound had a good day against the US Dollar and the pair rallied above immediate resistance for a touch of 1.5190. For almost the entire day the bulls were in complete control.

Technical Outlook
The show of force put on by the Pound yesterday is likely to generate additional bullish movement but the Relative Strength Index touched the 70 level and resistance sits in front of rising prices. We expect a move lower before 1.5190 resistance can be broken; this will open the door for a move above the mentioned level and will make 1.5260 the first target.

Fundamental Outlook
The British Claimant Count Change is announced at 9:30 am GMT, showing the fluctuation in the number of people who asked for welfare due to their unemployed condition. A higher number than the anticipated -24.2K is considered detrimental for the Pound. At the same time the Bank of England will make public the votes on the latest interest rate decision. This is a good opportunity for traders to see if any of the members are shifting their stance regarding a potential rate change, but the event usually goes unnoticed if the vote breakdown is the same as last month.
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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2015.01.22 :FOREX NEWS: All eyes on the ECB meeting as QE speculation comes to an end

EUR/USD

Forex News: The pair had a wild day yesterday, with a lot of mixed movement generated by the fact that ECB officials said the proposed amount to be used in the quantitative easing program is 50 billion Euros/month. The actual figure will be announced today.

Technical Outlook
The volatility created by the ECB news took the pair to a high of 1.1680 before dropping below 1.1640 resistance which apparently is still holding although it was briefly breached. Today we expect choppy price action, without clear direction until the ECB announces the official figure for the quantitative easing program. The technical aspect of trading will be overshadowed by this event and caution is recommended throughout the day.

Fundamental Outlook
The day’s main event is the ECB meeting during which the value of the QE will be announced. The interest rate decision is made public at 12:45 pm GMT (no change expected) and a Press Conference will be held at 1:30 pm GMT. The market can have a mixed reaction to the figure that will be announced and extreme caution is needed if trading at the time.

GBP/USD

The members of the Monetary Policy Committee had a surprising change of stance as all 9 of them now believe that a rate change is not needed. Previously, 2 members voted for a rate increase, while 7 voted to keep the rate unchanged

Technical Outlook
The initial market reaction when the vote breakdown was released triggered a sharp drop which found support at 1.5100. The pair moved briefly below the mentioned level but the bears couldn’t break it decisively and price started to range in close vicinity of this support. Now the pair shows signs of indecision and we expect this to remain unchanged until the ECB decision comes out; although it doesn’t affect the GBP/USD pair directly, the event is eagerly anticipated by market participants so it is likely to have an impact on other pairs as well.

Fundamental Outlook
The Pound has a slow day ahead in terms of economic releases and we expect a volatile day, generated by the events 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.

Skype : gdmfxindonesia
Indonesia Email Support: indo.support@gdmfx.com​

 

[pasfx]

2015.01.23 :Forex News: Support shattered as the ECB reveals QE value

EUR/USD

Forex News: The ECB announced that combined asset purchases will total a 60 billion EUR/month until at least September 2016. The event created mixed market reaction at first but soon after the pair started to drop and support was tested.

Technical Outlook
The support at 1.1460 was breached during yesterday’s drop and Euro weakness will probably generate further downside movement after a re-test of the mentioned level. The Relative Strength Index moved below 30, indicating that a retracement is due; however, an oversold condition of the RSI doesn’t mean that price will retrace with certainty. For now the picture remains bearish and the pair seems headed towards new lows.

Fundamental Outlook
The French Manufacturing PMI is released today at 8:00 am GMT, followed half an hour later by the German indicator with the same name. French PMI is expected to show a value of 48.1, while the forecast for the German indicator is 51.8; these indicators are gauges of economic health, focused on the Manufacturing sector and better than anticipated values could strengthen the Euro.

GBP/USD

The Pound-Dollar had mixed movement yesterday as the effect of the ECB decision extended to this pair as well. Resistance was touched before the bears finally took control of the pair and broke support.

Technical Outlook
In the recent past the pair moved several times below 1.5100 but returned above it almost immediately so a re-test would be in order before this break can be considered a valid one. The pair’s next target is 1.5035, followed by 1.5000 and the bias is bearish but bullish moves are not out of the question, depending on the economic data released today by the United Kingdom.

Fundamental Outlook
The British Retail Sales are released at 9:30 am GMT and are expected to change -0.6% while last month’s value was 1.6%. Such a drop would suggest that the economy is starting to slow down and the Pound will be negatively affected.

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.

Skype : gdmfxindonesia
Indonesia Email Support: indo.support@gdmfx.com​

 

[pasfx]

2015.01.26 :Forex News: New downside targets as the downtrend is in full swing

EUR/USD

Forex News: Friday the pair continued to drop sharply as the effect of the ECB stimulus decision remained in full swing. New multi year lows were reached and the bears made significant advances.

Technical Outlook

Price action seen during the last day of the week created minor resistance at 1.1290; the new low at 1.1114 will most likely act as minor support. The bias is bearish without a doubt and we expect another encounter with 1.1114 but this doesn’t exclude another test of minor resistance, considering the fact that the pair traveled down more than 500 pips in just two days and the move might need a stronger bullish pullback.

Fundamental Outlook

At 9:00 am GMT the German IFO Business Climate survey is released, showing the opinions of about 7,000 businesses about current economic conditions in Germany as well as a 6-month outlook. The expected figure is 106.7 and higher numbers can strengthen the Euro, driving the pair higher.

GBP/USD

The Pound posted losses against the US Dollar during the first part of Friday but these were erased later in the day. However, the pair couldn’t return above resistance and bounced lower again.

Technical Outlook

The bounce at 1.5035 resistance shows that further downside movement can be expected and that we will probably see another encounter with Friday’s low located at 1.4950. A strong move above 1.5035 and above the 50 period Exponential Moving Average would suggest that the downtrend is weakened and might push price into the resistance located at 1.5100.

Fundamental Outlook

The British Bankers’ Association will reveal the number of new mortgages approved for house purchases. A higher figure suggests increased activity in the house market sector and can have a positive impact on the Pound. The event is scheduled at 9:30 am GMT and the expected figure is 36.6K.



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.

Skype : gdmfxindonesia
Indonesia Email Support: indo.support@gdmfx.com​