Ekaterina Fechina
Company Representative
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- 522
Issue №70 from 16/10/2015
Hello, our forum dear visitors.
The European broker Forex.ee analytical department offers you the Analytics.
GBP/USD continued to rally adding 11 points to trade at 1.5489 before settling at 1.5425 on Friday. Wednesday’s UK unemployment figures helped send the cable higher against the other most actively traded global currencies. The pound had been rising during early trading this week following the publication of the latest UK inflation data which revealed that, for only the second time since the 1960s, domestic prices had dropped during the twelve months to September. It is expected that there will be some slowdown in overall GDP growth in the third quarter, reflecting more uncertain global conditions, but the health of the jobs market will continue to underpin the domestic economic recovery. A summer burst of job creation in the UK economy has pushed the employment rate to a record high and brought down the jobless rate to its lowest level in seven years. There were 31.12 million people in work, an increase of 140,000, in three months to August, the Office for National Statistics reported. That took the employment rate to 73.6 per cent, the highest since comparable records began in 1971. At the same time, the number of unemployed dropped by 79,000 and the jobless rate fell to 5.4 per cent, hitting its lowest since May 2008. Next week, Britain publishes Public Sector Net Borrowing figures and Retail sales data.
GBP/USD (D1; October 16, 2015)
Trade guidelines:
The cable experienced minor volatility on Thursday, ultimately suffering a slight decline on mixed US economic data. Nevertheless, the Sterling remains at a three-week high, but the situation might change today. The resistance is located around 1.5485, lowering the pound's chances of edging higher. The support area just above 1.54 is also unlikely to give in, suggesting that the GBP/USD is to remain within the borders of current consolidation. Furthermore, technical indicators shifted from bullish to mixed both in the daily and the weekly timeframes.
EUR/USD ticked up 35 points to trade at 1.1439, subsequently coming back to trade at its current 1.1364 level as the greenback recovered a bit and traders prepared for the upcoming ECB meeting. The single currency tumbled against its major counterparts, retreating from a seven-week high versus the dollar, after European Central Bank policy maker Ewald Nowotny said the institution is “clearly missing” its inflation targets and suggested “additional” steps may be necessary to achieve growth. Today’s CPI report confirmed consumer prices in the euro zone fell last month for the first time since March. European Central Bank Governing Council member Ewald Nowotny said both headline and core inflation in the euro area are “clearly” undershooting the institution’s goal, signaling that more stimulus may be needed. The main fault for this is the dramatic fall in the price of oil and raw materials. The single currency has been appreciating in recent weeks over concerns about the first US interest rate rise in nine years. Next week, euro zone publishes its current account figures, the interest rate decision and PMI numbers.
EUR/USD (D1; October 16, 2015)
Trade guidelines:
Yesterday’s break of 1.1459 resistance suggested that rise from 1.1086 is resuming while at the same time the rebound from 1.0461 is still not finished. Intraday expectations are on the upside for 1.1513 resistance and possibly above. At this point, strong resistance can still be found at 1.3993. On the downside, minor support is located below 1.1343. In the bigger picture, overall price actions from 1.6039 long term top is viewed as a corrective pattern with fall from 1.3993 as the final decline.
USD/CAD dipped 28 points as the US dollar recovered a bit yesterday while the rise in gold was offset by the declines in oil. The CAD is trading at 1.2894. The strong dollar weighed on manufacturing and tourism spending in the US while the economy continued its “modest expansion” in recent weeks, the Federal Reserve said in a report on Wednesday. Eleven of the central bank’s 12 districts reported growth, according to the Beige Book survey of economic conditions from mid-August through early October. One district hit hard by the fall in oil prices, the Kansas City region, reported a slight dip in economic activity. However, consumer spending, driver of two thirds of the US output, grew moderately, led by sharper gains in auto sales. Nonfinancial services activity mostly strengthened and the housing market, which has been a bright spot in the economy, improved. Overall, the report was upbeat about the economy. The pair is expected to find support at 1.2865, and a fall through could take it to the next support level of 1.2825. The pair is expected to find its first resistance at 1.2985, and a rise through could take it to the next resistance level of 1.3064. Moving ahead, investors will look forward to Canada’s Core Retail Sales and Core CPI data scheduled for next week?
USD/CAD (D1; October 16, 2015)
Trade guidelines:
USD/CAD pair initially tried to rally during the course of the day on Thursday, but fell significantly after that. With that in mind, the market looks as if it is going to reach towards the 1.27 handle. That is the bottom of the support region that extends from there all the way to the 1.30 level. If the pair can break down below the 1.27 handle, the market should continue to go much lower. On the other hand, if there is some type of supportive candle, that could be an excellent buying opportunity as the market has been so oversold recently.
NZD/USD fell 22 points to 0.6805 as traders worry about growth rates in Asia and the problems brewing in the Chinese economy. The currency has enjoyed its recent rise, supported by renewed weakness in the US dollar as prospects of a rate hike from the US Federal Reserve start to look more postponed. Analysts said the currency was reflecting better news on the domestic environment - notably a big bounce in dairy prices - and easing concerns about China's economic growth prospects. Inside N.Z., whole milk powder prices have rallied by 89.5 per cent since hitting a low of US$1490 a tonne in August. In New Zealand today, the focus was on third-quarter inflation data, which was also higher than expected. The consumers price index slowed to 0.3 percent from a 0.4 percent pace in the second quarter, while a decline to 0.2% was anticipated. Next week, New Zealand is publishing its employment data.
NZD/USD (D1; October 16, 2015)
Trade guidelines:
NZD/USD pair initially went up during the course of the day on Thursday, but ran into a bit of trouble at the 0.69 level. Eventually, the pair ended up forming a bit of a shooting star. The shooting star of course is a negative sign, but NZD had broken above a significant amount of resistance at the 0.6750 level, and as a result a pullback from here should attract quite a bit of support, as the area had been so resistive. With this, the market is looking at pullbacks as potential buying opportunities.
Thank you for using the European broker Forex.ee Analytics! Have a profitable trade!
Our other services, as well as Forex.ee trading conditions you can find at our official website.
Hello, our forum dear visitors.
The European broker Forex.ee analytical department offers you the Analytics.
GBP/USD continued to rally adding 11 points to trade at 1.5489 before settling at 1.5425 on Friday. Wednesday’s UK unemployment figures helped send the cable higher against the other most actively traded global currencies. The pound had been rising during early trading this week following the publication of the latest UK inflation data which revealed that, for only the second time since the 1960s, domestic prices had dropped during the twelve months to September. It is expected that there will be some slowdown in overall GDP growth in the third quarter, reflecting more uncertain global conditions, but the health of the jobs market will continue to underpin the domestic economic recovery. A summer burst of job creation in the UK economy has pushed the employment rate to a record high and brought down the jobless rate to its lowest level in seven years. There were 31.12 million people in work, an increase of 140,000, in three months to August, the Office for National Statistics reported. That took the employment rate to 73.6 per cent, the highest since comparable records began in 1971. At the same time, the number of unemployed dropped by 79,000 and the jobless rate fell to 5.4 per cent, hitting its lowest since May 2008. Next week, Britain publishes Public Sector Net Borrowing figures and Retail sales data.
GBP/USD (D1; October 16, 2015)
Trade guidelines:
The cable experienced minor volatility on Thursday, ultimately suffering a slight decline on mixed US economic data. Nevertheless, the Sterling remains at a three-week high, but the situation might change today. The resistance is located around 1.5485, lowering the pound's chances of edging higher. The support area just above 1.54 is also unlikely to give in, suggesting that the GBP/USD is to remain within the borders of current consolidation. Furthermore, technical indicators shifted from bullish to mixed both in the daily and the weekly timeframes.
EUR/USD ticked up 35 points to trade at 1.1439, subsequently coming back to trade at its current 1.1364 level as the greenback recovered a bit and traders prepared for the upcoming ECB meeting. The single currency tumbled against its major counterparts, retreating from a seven-week high versus the dollar, after European Central Bank policy maker Ewald Nowotny said the institution is “clearly missing” its inflation targets and suggested “additional” steps may be necessary to achieve growth. Today’s CPI report confirmed consumer prices in the euro zone fell last month for the first time since March. European Central Bank Governing Council member Ewald Nowotny said both headline and core inflation in the euro area are “clearly” undershooting the institution’s goal, signaling that more stimulus may be needed. The main fault for this is the dramatic fall in the price of oil and raw materials. The single currency has been appreciating in recent weeks over concerns about the first US interest rate rise in nine years. Next week, euro zone publishes its current account figures, the interest rate decision and PMI numbers.
EUR/USD (D1; October 16, 2015)
Trade guidelines:
Yesterday’s break of 1.1459 resistance suggested that rise from 1.1086 is resuming while at the same time the rebound from 1.0461 is still not finished. Intraday expectations are on the upside for 1.1513 resistance and possibly above. At this point, strong resistance can still be found at 1.3993. On the downside, minor support is located below 1.1343. In the bigger picture, overall price actions from 1.6039 long term top is viewed as a corrective pattern with fall from 1.3993 as the final decline.
USD/CAD dipped 28 points as the US dollar recovered a bit yesterday while the rise in gold was offset by the declines in oil. The CAD is trading at 1.2894. The strong dollar weighed on manufacturing and tourism spending in the US while the economy continued its “modest expansion” in recent weeks, the Federal Reserve said in a report on Wednesday. Eleven of the central bank’s 12 districts reported growth, according to the Beige Book survey of economic conditions from mid-August through early October. One district hit hard by the fall in oil prices, the Kansas City region, reported a slight dip in economic activity. However, consumer spending, driver of two thirds of the US output, grew moderately, led by sharper gains in auto sales. Nonfinancial services activity mostly strengthened and the housing market, which has been a bright spot in the economy, improved. Overall, the report was upbeat about the economy. The pair is expected to find support at 1.2865, and a fall through could take it to the next support level of 1.2825. The pair is expected to find its first resistance at 1.2985, and a rise through could take it to the next resistance level of 1.3064. Moving ahead, investors will look forward to Canada’s Core Retail Sales and Core CPI data scheduled for next week?
USD/CAD (D1; October 16, 2015)
Trade guidelines:
USD/CAD pair initially tried to rally during the course of the day on Thursday, but fell significantly after that. With that in mind, the market looks as if it is going to reach towards the 1.27 handle. That is the bottom of the support region that extends from there all the way to the 1.30 level. If the pair can break down below the 1.27 handle, the market should continue to go much lower. On the other hand, if there is some type of supportive candle, that could be an excellent buying opportunity as the market has been so oversold recently.
NZD/USD fell 22 points to 0.6805 as traders worry about growth rates in Asia and the problems brewing in the Chinese economy. The currency has enjoyed its recent rise, supported by renewed weakness in the US dollar as prospects of a rate hike from the US Federal Reserve start to look more postponed. Analysts said the currency was reflecting better news on the domestic environment - notably a big bounce in dairy prices - and easing concerns about China's economic growth prospects. Inside N.Z., whole milk powder prices have rallied by 89.5 per cent since hitting a low of US$1490 a tonne in August. In New Zealand today, the focus was on third-quarter inflation data, which was also higher than expected. The consumers price index slowed to 0.3 percent from a 0.4 percent pace in the second quarter, while a decline to 0.2% was anticipated. Next week, New Zealand is publishing its employment data.
NZD/USD (D1; October 16, 2015)
Trade guidelines:
NZD/USD pair initially went up during the course of the day on Thursday, but ran into a bit of trouble at the 0.69 level. Eventually, the pair ended up forming a bit of a shooting star. The shooting star of course is a negative sign, but NZD had broken above a significant amount of resistance at the 0.6750 level, and as a result a pullback from here should attract quite a bit of support, as the area had been so resistive. With this, the market is looking at pullbacks as potential buying opportunities.
Thank you for using the European broker Forex.ee Analytics! Have a profitable trade!
Our other services, as well as Forex.ee trading conditions you can find at our official website.
