30 / 11 / 2015 | Technical Analysis

EUR/USD: Today’s Major Levels are 1.0594 and 1.0558

North American Session
The EUR/USD pair has been moving lower since the 25th of November 2015, with the price decelerating from as high as 1.0687 to as low as 1.0558.

During the course of the day on Friday, the pair went back and forth testing the 1.0637 resistance line to fall back again down to 1.0568. Today, the pair consolidated between the levels of 1.0594 and 1.0558. In the event that the buyers attempt another rally and the price manages to break above the previous test point at 1.0622, the price could escalate up to 1.0637 and 1.0687 in extension.

Conversely, in the scenario where the sellers keep exerting strong pressures and the price breaks below 1.0558, the pair could go decelerate down to 1.0534.
 



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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30 / 11 / 2015 | Market News

Dollar persists broadly supported after U.S. data

The dollar persisted broadly supported at eight-month highs against the other major currencies on Monday, after the release of mixed U.S. data with the investor's expectation that the Federal Reserve will start raising short-term interest rates at its policy-setting meeting in December continued to support. 

On Friday, the U.S. nonfarm payrolls report is expected to give the central bank further ammunition to hike interest rates. 

The recent strength in the greenback comes also from the widely anticipated policy decision from the European Central Bank decision.

Elsewhere, the single currency slipped 0.18% against the dollar to fresh seven-month lows, with EUR/USD to trade at 1.0574. Persuasion on the euro continued vulnerable as European Central Bank, President Mario Draghi has been signaling in recent weeks, that the bank is ready to act immediately to boost inflation in the euro zone and can also change the level of its deposit rate to boost the impact of quantitative easing.

On Monday, after the released of Japan's industrial production data the yen came under pressure with a rose 1.4% in October, missing expectations for a growth of 1.9%, after a 1.1% increase of the previous month, with USD/JPY rose 0.29% to 123.15.

The dollar slipped lower against the pound but remained steady against the Swiss franc, with GBP/USD up 0.11% to 1.5046 and USD/CHF at 1.0288.

The Australian and New Zealand dollars were stronger, with AUD/USD up 0.62% at 0.7234 and with NZD/USD climbing 0.78% to 0.6583.

Meanwhile, USD/CAD slid 0.33% to 1.3335, after Statistics Canada reported on Monday that the country's current account deficit narrowed to C$16.2 billion in the third quarter from a revised C$16.6 billion in the second quarter. Analysts had expected the current account deficit to narrow to C$15.2 billion in the last quarter.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.15% at an eight-month peak of 100.21.
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30 / 11 / 2015 | Technical Analysis

GBP/CHF: Major Levels 1.5506 and 1.5455

European Session
The GBP/CHF pair has been trending upwards, since the 24th of November 2015, with the buyers leading the price from as low as 1.5288 to as high as 1.5530.  

On Friday, during the US session, the currency pair lower to 1.5457, advanced up to 1.5505 to finish lower during the European trade today, to the initial level of 1.5455. 

In the event that the bulls gain ground and manage to break above 1.5505, the pair could escalate up to 1.5530 and 1.5570 in extension.

Conversely, in the scenario where the bears manage to force the price to break below 1.5438, the pair could decelerate down to 1.5408 and 1.5381 in extension.   
 



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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27 / 11 / 2015 | Technical Analysis

USD/CAD: Today’s Major Levels 1.3371 and 1.3283

North American Session
The USD/CAD pair has been trending upwards since the 19th of November 2015. The downward movement began from as low as 1.3246 to as high as 1.3371.

In the event that the buyers gain momentum and manage to push the price to break above, the pair could rise up to 1.3447.

Conversely, in the scenario where the sellers keep exerting strong downward pressures and the price breaks below 1.3321, the pair could decelerate down to 1.3308 and 1.3246 in extension.
  



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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27 / 11 / 2015 | Market News

Dollar holds at 8-month peak versus rivals

The dollar held at an eight-month peak against the other major currencies on Friday, as trading volumes were expected to stay thin for the long Thanksgiving weekend and as desires for an upcoming U.S. rate hike extended to support.

The greenback continued broadly supported after a string of upbeat U.S. data released over the week added to outlooks that the Federal Reserve will raise interest rates next month.

Elsewhere, the single currency slid 0.30% against the dollar, with EUR/USD to trade at 1.0579, close to Wednesday's seven-month approach of 1.0564.

After the European Central Bank President Mario Draghi signaled last week that the bank is ready to act rapidly to boost inflation in the euro zone and can also change the level of its deposit rate to boost the impact of quantitative easing, the euro's additions were held in check.  

In Japan, data on Friday showed that household spending fell 0.7% in October, compared to expectations for an increase of 1.1%, and after a 1.3% drop the previous month, as a result USD/JPY eased up 0.09% to 122.68.

However, a separate report evidenced that Tokyo's consumer price index jumped by an annual rate of 0.2% in November, in line with expectations. On the other hand, Core CPI report (which excludes fresh food) was flat this month, compared to expectations for a 0.1% downtick. 

The dollar was higher against the British pound with GBP/USD down 0.42% at 1.5039, after the U.K. Office for National Statistics reported on Friday, that gross domestic product rose 0.5% in the third quarter, in line with expectations and with a previous estimate.

The Swiss franc was lower against the dollar, with USD/CHF gaining 0.68% to 1.0307. 

Also, the Australian and New Zealand dollars were weaker, with AUD/USD down 0.42% at 0.7196 and with NZD/USD declining 0.65% to 0.6529.

Meanwhile, USD/CAD jumped 0.44% to trade at 1.3351, not far from Monday's two-month high of 1.3437

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.32% at 100.18 just below Wednesday's eight-month peak of 100.21.
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27 / 11 / 2015 | Technical Analysis

EUR/JPY: Major Levels 130.14 and 129.85

European Session 
The EUR/JPY pair has been moving downwards since the 19th of November 2015, with the sellers leading the price from as high as levels of 132.27 to as low as 129.84.

The currency pair consolidated during the European Session on Thurday, balancing between the levels of 130.28 and 129.89. 

In the scenario that the buyers exert heavier upward pressures and manage to push the price above the 130.42, the pair could reach 131.06 and 131.34 respectively.

Alternatively, if the sellers manage to gain momentum and force the price to break below the level of 129.85, the pair could decelerate to 129.63. 


 
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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26 / 11 / 2015 | Technical Analysis

NZD/USD: Today’s Major Levels 0.6596 and 0.6564

North American Session
The NZD/USD pair has been trending upwards since the 18th of November 2015. The downward movement began from as low as 0.6428 to as high as 0.6595.

At the early European Session, the price drop from 0.6596 down to 0.6564. In the event that the buyers gain momentum and manage to push the price to break above, the pair could rise again up to 0.6595.

Conversely, in the scenario where the sellers keep exerting strong downward pressures and the price breaks below 0.6505, the pair could decelerate down to 0.6490 and 0.6476 in extension. 
  



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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26 / 11 / 2015 | Technical Analysis

EUR/JPY: Today’s Major Levels 129.93 and 130.34

European Session
The EUR/JPY pair has been moving downward since Thursday, 19th of November, 2015, with the sellers being able to drive the price from as high as 132.26 to as low as 129.77.

On Wednsday during the US session the pair moved higher at 130.48, to subjecuently ranging between the levels of 130.33 and 130.20.

In the scenario that the price retraces to the downside and the bears manage to force the price to break below the level of 129.77, the price could decelerate down to 128.22. 

In the opposite scenario, that the bulls manage to pull the price above the level of 131.25, the price could escalate up to 131.64 and 132.26 in extension. 
 



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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25 / 11 / 2015 | Technical Analysis

USD/CAD: Today’s Major Levels 1.3279 and 1.3337

North American Session
The USD/CAD pair has been moving downward since Monday, 23th of November, 2015, with the sellers being able to drive the price from as high as 1.3434 to as low as 1.3296.

Today, the pair moved higher, but the bulls seem to find the 1.3337 level to be too resistive. In the scenario that the price retraces to the downside and the bears manage to force the price to break below the level of 1.3296, the price could decelerate down to 1.3274 and 1.3246 in extension.

In the opposite scenario, that the bulls manage to pull the price above the level of 1.3349, the price could escalate up to 1.3381 and 1.3434 in extension. 
 



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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25 / 11 / 2015 | Market News

Dollar continues close to 8-month highs after strong U.S. data

The dollar continued close to eight-month highs against the other major currencies on Wednesday, after the release of strong U.S. economic reports encouraged optimism over the strength of the economy.

The U.S. Commerce Department reported on Wednesday, that new home sales rose by 10.7% to 495,000 units last month, compared to outlooks for an increase of 6.0% to 500,000.

The report came shortly after the U.S. Department of Labor stated that the number of individuals registering for initial jobless benefits in the week ending November 21, declined by 12,000 to 260,000 from the previous week’s revised total of 272,000.

Separately, the U.S. Commerce Department said that durable goods orders inched up 3.0% last month, easily surpassing forecasts for 1.5%.

Core durable goods orders, which exclude volatile transportation items, rose 0.5% in October, compared to expectations for a growth of 0.3%.

Data also recorded that U.S. personal spending jumped by 0.1% last month, overlooking expectations for a 0.3% addition.

Earlier Wednesday, the minutes of the Bank of Japan's October meeting evidenced that some board members believe that an output gap was one reason the country was taking longer to meet inflation aims.

These fears underscored a lingering worry that the delay in meeting the BOJ's 2% inflation target meant that its quantitative easing measures had been ineffective.
However, the majority view was that the delay in hitting the inflation target was due to weak oil prices, according to the minutes.

Elsewhere, the single currency fell to fresh seven-month lows against the U.S. dollar, with EUR/USD dropping 0.51% to 1.0589. 

The dollar was steady against the pound and was higher against the Swiss franc, with GBP/USD at 1.5086 and USD/CHF gaining 0.68% to 1.0237.

The Australian dollar was weaker, with AUD/USD down 0.31% at 0.7234, while NZD/USD held steady at 0.6555.  

USD/JPY edged up 0.26% to 122.84.

Meanwhile, the dollar re-approaches 2-month peak of 1.3437 against its Canadian counterpart, USD/CAD adding 0.13% to 1.3322. 

The U.S. dollar index , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.40% at a fresh eight-month peak of 100.08.
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