Page 51 of 60 FirstFirst ... 414950515253 ... LastLast
Results 501 to 510 of 597
  60 60 Attachment(s)    

Thread: Daily Technical Analysis from ACFX

  1. #501

    Default

    MORE ON ACFXblog.com









    MARKET BRIEFING – LONDON OPEN 17.11.2015.







    This morning at 10:00 a.m. London time, German Center for the European Economic research (ZEW) will release the German Economic Sentiment data.

    Around 350 financial analysts are participating in the survey, which shows the balance between the experts who have an optimistic opinion about the Germany’ economic developments within the next six months and these who are not.

    Germany is the 4th largest economy in the world and by far the biggest and the most influential within the European Union, which makes it very influential to the common European currency.

    Since the ZEW index is an important indicator which provides with the outlook of the country’s economic health, it typically causes heightened volatility in the EUR currency pairs.

    The data above zero will generally indicate optimism and the opposite so below zero.
    The German sentiment trend is declining since March 2015 when data reached this year’s high of 54.8. The statistics usually quite volatile and not following a smooth trend.

    The forecast for today’s release is expected to read 6.7 which will be a slight improvement on the prior months 1.9 reading.

    A higher reading in today’s number would be significant as it would be the first time in over six months that the ZEW would have broken its downtrend.

    In case the release will be lower than expected, this will likely to put additional pressure to the recently weak EURUSD pair.








    EURUSD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.0775

    Target 2: 1.0595

    Projected range in ATR’s: 0.0094

    Daily control level: 1.0830





    GBPUSD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.5295

    Target 2: 1.5100

    Projected range in ATR’s: 0.0099

    Daily control level: 1.5265




    USDJPY




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 123.80

    Target 2: 122.50

    Projected range in ATR’s: 0.71

    Daily control level: 122.20







    USDCHF






    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.0160

    Target 2: 1.0025

    Projected range in ATR’s: 0.0070

    Daily control level: 0.9996





    USDCAD





    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.3415

    Target 2: 1.3240

    Projected range in ATR’s: 0.0089

    Daily control level: 1.3285






    AUDUSD





    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 0.7155

    Target 2: 0.7030

    Projected range in ATR’s: 0.0066

    Daily control level: 0.7110






    GOLD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1097.00

    Target 2: 1070.00

    Projected range in ATR’s: 13.70

    Daily control level: 1098.00





    OIL





    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 44.00

    Target 2: 41.50

    Projected range in ATR’s: 1.55

    Daily control level: 43.40






    MORE ON ACFXblog.com

  2. #502

    Default

    MORE ON ACFXblog.com






    MARKET BRIEFING – LONDON OPEN 19.11.2015




    Not many would have thought that when the benchmark Federal Funds target interest rate dropped under 0.25% in 2008 that it would stay at this level for some 7 years.

    However, yesterday’s much-anticipated release of the FOMC minutes for October the markets received the clearest indication that the Chairwoman, Janet Yellen and her colleagues on the Federal Reserve committee are now finally ready to increase interest rates.

    According to the Minutes of the October meeting, the Federal Reserve said that the economic outlook would have improved sufficiently, or in their words “be met” by the December meeting for an agreement to be reached to increase interest rates.

    In a further hawkish message, the FOMC minutes noted, “The US financial system appeared to have weathered the turbulence in global financial markets without any sign of systemic stress.”

    The market had expected that the Federal Reserve could have increased interest rates at the September gathering, however, concerns over the contraction of the Chinese and Emerging Market economies combined with patchy economic data led to the committee members taking a cautious approach.

    Since October, there has been very strong news with respect to US employment with the last jobs report posting impressive Non-Farm Payrolls and Average Earnings numbers.

    The October meeting took place before the positive US employment numbers were announced. However, barring a disastrous data being announced in December and with the China story dropping from the focus of attention it would appear that the Federal Reserve has no reasons why it should not raise interest rates next month.

    Furthermore, one outcome of the tragic events that took place in France recently is the rapprochement in relations between the United States and her allies with Russia. A more stable geopolitical picture would do much to reduce risk and calm the nerves of investors and would be one less issue for the FOMC to worry about.






    EURUSD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.0750

    Target 2: 1.0570

    Projected range in ATR’s: 0.0092

    Daily control level: 1.0615




    GBPUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.5330

    Target 2: 1.5140

    Projected range in ATR’s: 0.0095

    Daily control level: 1.5185



    USDJPY




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 124.25

    Target 2: 122.95

    Projected range in ATR’s: 0.66

    Daily control level: 123.75




    USDCHF




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.0270

    Target 2: 1.0120

    Projected range in ATR’s: 0.0075

    Daily control level: 1.0125




    USDCAD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.3355

    Target 2: 1.3250

    Projected range in ATR’s: 0.0083

    Daily control level: 1.3370



    AUDUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7175

    Target 2: 0.7040

    Projected range in ATR’s: 0.0069

    Daily control level: 0.7070



    GOLD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1086.00

    Target 2: 1054.00

    Projected range in ATR’s: 15.92

    Daily control level: 1097.95



    OIL




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 43.70

    Target 2: 40.60

    Projected range in ATR’s: 1.54

    Daily control level: 42.70








    MORE ON ACFXblog.com

  3. #503

    Default

    MORE ON ACFXblog.com




    MARKET BRIEFING – LONDON OPEN 23.11.2015





    The European series of Flash Manufacturing PMI is taking the centre of traders’ attention this morning. French and German Flash PMI data are projected to increase to 50.7 and 52.2 correspondingly, with only general European PMI awaited to remain without changes at 52.3.

    This set of PMI is released by Markit financial Information and typically comes out three weeks after a month ends after a month ends and may add volatility to the Euro pairs.

    The European Manufacturing PMI set of data is a leading indicator of economic health in the manufacturing sector as purchasing managers possess good inside of the current economic conditions and adapt to them rapidly.

    Around 500 purchasing managers from each zone are questioned to rate the current business conditions regarding an amount of new orders, inventories and production levels and also to rate employment sphere and supplier deliveries.

    A number above 50 indicates that the industry is expanding, whereas 50 will states that there were no changes, with the below that showing a contraction.

    The releases coming above the projections will usually have a positive effect on the common European currency with the vice versa applicable as well.

    EURUSD has opened sharply lower this morning, as the US dollar continue to gain strength and reaching above 100 level during this morning, the level last seen seven month ago.






    EURUSD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.0734

    Target 2: 1.0544

    Projected range in ATR’s: 0.0095

    Daily control level: 1.0825




    GBPUSD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.5271

    Target 2: 1.5075

    Projected range in ATR’s: 0.0098

    Daily control level: 1.5335




    USDJPY



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 123.47

    Target 2: 122.13

    Projected range in ATR’s: 0.668

    Daily control level: 123.75






    USDCHF




    The intraday technical outlook

    Trend 1 hour: Range

    Target 1: 1.0270

    Target 2: 1.0118

    Projected range in ATR’s: 0.0076

    Daily control level: 1.000





    USDCAD




    The intraday technical outlook

    Trend 1 hour: UP

    Target 1: 1.3415

    Target 2: 1.3251

    Projected range in ATR’s: 0.0082

    Daily control level: 1.3245






    AUDUSD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7301

    Target 2: 0.7159

    Projected range in ATR’s: 0.0071

    Daily control level: 0.7070






    GOLD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1090.25

    Target 2: 1062.85

    Projected range in ATR’s: 13.70

    Daily control level: 1098.00





    OIL



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 43.28

    Target 2: 40.28

    Projected range in ATR’s: 1.504

    Daily control level: 43.00





    MORE ON ACFXblog.com

  4. #504

    Default

    MORE ON ACFXblog.com





    MARKET BRIEFING – LONDON OPEN 24.11.2015





    Oil ended last trading session higher after Saudi Arabia, the world’s largest petroleum exporter, agreed to cooperate with other oil producing countries on price stability.

    West Texas Intermediate price reached US$ 43.00 high during the yesterday’s session, whereas Brent surged to US$ 45.99 level. After a market experienced a significant volatility due to the announcement, WTI closed the day 45 cents higher, whereas Brent gained 58 cents.

    Oil price lost almost two third of the value since its collapse began in the middle of 2014, with the WTI hitting the low of US$ 37.92 at the end of last August.

    In the previous meeting held by Organization of Petroleum Exporting Countries last month, Saudi Arabia declared that despite the worrying market state it is not willing to cut the production presently.

    As the oil industry is mainly controlled by just a few large oil producers, it implies quite a harsh competition. By allowing a significant price drop, the larger producers could ensure that smaller competitors will be erased, as producing at the low cost is unsustainable to them.

    Nevertheless the incentive for higher prices has still remained for the producers, with many analysts believe that the currently low prices could not last long.

    At the moment, the OPEC has set the limits of production at 30 million barrels per day. However, since there is no penalty imposed on the producers in case these restrictions are exceeded, the chances are that the present parameters are not kept by some of the OPEC members.

    The Saudi comments came just a day after the Venezuelan Oil Minister Eulogio Del Pino told in a press conference that the oil price could drop to as low as US$ 20 if no change in the OPEC’s current policy will be made.

    Mr Del Pino comments are doubled by the September’s forecast of Goldman Sachs, which indicated that the Oil price could reach US$ 20 per barrel next year. Nevertheless, the majority of analysts believe that the oil price should balance closer to US$ 60.

    For now the Saudi Arabia proposed “willingness to cooperate” does not, in fact, change anything and remains just words. Recently surging US Dollar is adding further pressure on the black commodity’s price.

    The weakness of the world’s second largest economy China, therefore the significantly reduced demand for Oil is an additional heavy weighting factor. Therefore drastic actions and significant efforts need to be implemented in order for the oil price to recover in the near future.

    The next OPEC meeting will be held on December 4 could give some more hints regarding the direction of the Oil price in the near future, however, it seems unlikely that the current market-based pricing strategy will be abandoned by the organization.



    EURUSD





    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.0726

    Target 2: 1.0546

    Projected range in ATR’s: 0.0097

    Daily control level: 1.0825




    GBPUSD





    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.5219

    Target 2: 1.5025

    Projected range in ATR’s: 0.0097

    Daily control level: 1.5335






    USDJPY



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 123.48

    Target 2: 122.18

    Projected range in ATR’s: 0.649

    Daily control level: 123.75







    USDCHF




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.0270

    Target 2: 1.0118

    Projected range in ATR’s: 0.0076

    Daily control level: 1.000






    USDCAD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.3445

    Target 2: 1.3281

    Projected range in ATR’s: 0.0082

    Daily control level: 1.3245







    AUDUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7256

    Target 2: 0.7120

    Projected range in ATR’s: 0.0068

    Daily control level: 0.7070





    GOLD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1081.75

    Target 2: 1055.85

    Projected range in ATR’s: 12.95

    Daily control level: 1098.00







    OIL



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 43.80

    Target 2: 40.84

    Projected range in ATR’s: 1.482

    Daily control level: 43.00







    MORE ON ACFXblog.com

  5. #505

    Default

    MORE ON ACFXblog.com





    MARKET BRIEFING – LONDON OPEN 25.11.2015




    Further updates on economic conditions within the United States will come in the form of the monthly Core Durable Goods Orders data this afternoon at 1:30 pm London time.

    The index released by the US Census Bureau represents the change in the total value of new purchase orders placed with domestic manufacturers for delivery of durable goods.

    Transportation and aircraft items are excluded from the index, since these goods are of a high value and volatility and can significantly distort the overall picture.

    Durable goods are defined as items with a life expectancy of more than three years, which includes cars, computers, industrial machinery and appliances.

    Monthly manufacturers’ inventories, shipments and orders are surveyed with the manufacturing companies of US$ 500 million and more in yearly deliveries.

    An increased level of purchase orders shows that producers will be busy in the coming months to work on filling the orders, which consequently will influence the creation of additional jobs and increase spending.

    The value of the index for the month of October is projected to improve to 0.5%, up from -0.3% of the previous publishing.

    The actual value of the indicator that is above the forecasted will likely have a boosting effect on the US currency.

    US Dollar Index has recently set new highs and was trading above 100 mark at the beginning of this week’s trading session. However, the index showed some weakness for the last two days and reached 99.35 low this morning.



    EURUSD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.0732

    Target 2: 1.0552

    Projected range in ATR’s: 0.0090

    Daily control level: 1.0830






    GBPUSD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.5168

    Target 2: 1.4988

    Projected range in ATR’s: 0.0090

    Daily control level: 1.5335






    USDJPY




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 123.17

    Target 2: 121.89

    Projected range in ATR’s: 0.642

    Daily control level: 123.75





    USDCHF




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.0237

    Target 2: 1.0089

    Projected range in ATR’s: 0.0074

    Daily control level: 1.000






    USDCAD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.3382

    Target 2: 1.3224

    Projected range in ATR’s: 0.0079

    Daily control level: 1.3245



    AUDUSD





    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7319

    Target 2: 0.7181

    Projected range in ATR’s: 0.0069

    Daily control level: 0.7150




    GOLD




    The intraday technical outlook

    Trend 1 hour: Range

    Target 1: 1088.38

    Target 2: 1061.82

    Projected range in ATR’s: 13.27

    Daily control level: 1098.00



    OIL



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 44.58

    Target 2: 41.58

    Projected range in ATR’s: 1.5007

    Daily control level: 40.65






    MORE ON ACFXblog.com

  6. #506

    Default

    MORE ON ACFXblog.com




    MARKET BRIEFING – LONDON OPEN 26.11.2015




    The quarterly Australian Private Expenditure data has opened this trading day with quite a disappointing results, as it showed that the spending by the private businesses decreased to -9.2 % against -2.8% expected.

    This data completed this year’s set of the releases with all of them in the negative side and reached the worst results since February 2000, pulling the recently recovering AUDUSD pair to the downside.

    “In an acknowledgment that the below-par economic growth of the past three years will persist, the Treasury’s top forecaster, Nigel Ray, said next month’s budget update would assume long-term growth of 2.75 per cent, down from about 3 percent” – the Australian Financial Review reports.

    “A sharp slowdown in population growth since export prices peaked in 2011 means the economy won’t expand as fast as previously assumed. Lower growth could mean a future of fewer jobs and poorer investment returns. It would hit taxes, making it harder to pay for promised raises in defence, education, old age and welfare services” – Jacob Greber, observes in his recent article.

    For now the probability of a further interest rate cut by the Reserve Bank of Australia in the near future is increasing, as fewer people will mean fewer employees and, therefore, an additional drop in productivity.

    The European trading session today looks quite deserted regarding the economic releases, whereas the American markets are closed for the Thanksgiving holiday. Thus, the low trading volume will likely govern the market though the risk of volatility in case of any significant event enters the media headlines.

    Despite some retracement yesterday, it seems the dollar index is continuing to persist on the way up, bouncing off the 99.75 support this morning and likely heading to retest the recent high of 100.20.

    Gold, the traders’ favourite commodity after the oil is remaining to trade at five-year low, trading a descending triangle pattern, which could suggest a move lower might be ahead.
    Oil price, after encountering some volatility, has managed to keep the positions it gained on Monday on Saudi Arabia’s comments. The crude was trading above US$ 43.10 support and daily pivot point this morning.



    EURUSD





    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.0700

    Target 2: 1.0540

    Projected range in ATR’s: 0.0084

    Daily control level: 1.0690





    GBPUSD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.5200

    Target 2: 1.5040

    Projected range in ATR’s: 0.0081

    Daily control level: 1.5050




    USDJPY




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 123.20

    Target 2: 122.15

    Projected range in ATR’s: 0.56

    Daily control level: 123.00





    USDCHF




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.0280

    Target 2: 1.0135

    Projected range in ATR’s: 0.0073

    Daily control level: 1.0140






    USDCAD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.3360

    Target 2: 1.3215

    Projected range in ATR’s: 0.0073

    Daily control level: 1.3340





    AUDUSD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7315

    Target 2: 0.7185

    Projected range in ATR’s: 0.0064

    Daily control level: 0.7155




    GOLD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1082.00

    Target 2: 1058.00

    Projected range in ATR’s: 12.30

    Daily control level: 1081.00







    OIL



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 44.80

    Target 2: 41.80

    Projected range in ATR’s: 1.49

    Daily control level: 42.15




    MORE ON ACFXblog.com

  7. #507

    Default

    MORE ON ACFXblog.com




    MARKET BRIEFING – LONDON OPEN 27.11.2015


    As we head into next week and the start of the last month of 2015, one would have expected that the markets would be in a holiday mode as trading volumes decline during the beginning of the festive season.

    In reality, the opposite is very much the case. On Thursday of next week, Mr. Mario Draghi, who is the president of the European Central Bank will give his final and probably most important press conference of the year.

    The markets are expecting President Draghi to announce new measures that will help to kick start the Euro-Zones patchy economic recovery.

    There have been complications since the last ECB meeting with a refugee crisis vividly shown on European television channels causing real friction between the leadership of political parties and the rank and file members as well as between European Union member Governments.

    This refugee crisis has been followed by the tragic events that have unfolded in Paris and the need to shut down productive economic activity in much of Belgium due to fears of further terrorist action.

    With the Schengen treaty that allows for the free movement of persons within the European Union Member borders now under real threat the fear is that the Geopolitical instability that has its roots in the Middle East could eventually restrict the flow of commerce within Schengen member states. The knock on effect would be to further depress the economic outlook for the Euro-Area.

    The European nations have a duty of care to look after and provide shelter to refugees who are fleeing conflict. We simply could not allow those fleeing terror to remain on the beaches of Greece and Malta during the cold winter season.

    However, accepting so many new arrivals is going to add an extra burden on the resources of the European countries who have offered a safe haven. This comes at a time when these resources are limited.

    Furthermore, these refugees will in the medium term want to be fully integrated into society. This will include the new citizens wish to be economically active. The very idea of some estimated one million new arrivals being accepted into the Euro-Area will have the analysts at the ECB trying to ascertain very quickly what the likely impact will be on inflation and the job market.

    This brings us back to the events of next week. The ECB is already under pressure to act on the economy and it is very likely that it will announce an expansion of the current quantitative easing programme.

    Will the refugee crisis have an impact on ECB policy? Probably not at this stage. However if the crisis in Syria and Iraq is not resolved soon and if the world’s powers do not settle their differences and move ahead to alleviate the plight of these countries populations, then the potential for serious impact on the Euro-Area economy should not be ruled out.



    EURUSD





    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.0690

    Target 2: 1.0530

    Projected range in ATR’s: 0.0082

    Daily control level: 1.0690





    GBPUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.5175

    Target 2: 1.5020

    Projected range in ATR’s: 0.0079

    Daily control level: 1.5050




    USDJPY




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 123.10

    Target 2: 122.00

    Projected range in ATR’s: 0.55

    Daily control level: 122.72



    USDCHF




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.0300

    Target 2: 1.0170

    Projected range in ATR’s: 0.0070

    Daily control level: 1.0140





    USDCAD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.3360

    Target 2: 1.3220

    Projected range in ATR’s: 0.0070

    Daily control level: 1.3340




    AUDUSD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7290

    Target 2: 0.7160

    Projected range in ATR’s: 0.0064

    Daily control level: 0.7155



    GOLD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1083.00

    Target 2: 1059.00

    Projected range in ATR’s: 12.27

    Daily control level: 1075.00



    OIL



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 44.50

    Target 2: 41.60

    Projected range in ATR’s: 1.45

    Daily control level: 42.15



    MORE ON ACFXblog.com

  8. #508

    Default

    MORE ON ACFXblog.com







    MARKET BRIEFING – LONDON OPEN 30.11.2015






    Earlier in November, the International Monetary Fund Managing Director, Christine Lagarde announced her backing for the inclusion of the Chinese Yuan into a select basket of international reserve currencies.

    It is now expected that later today, the Chinese Yuan will be given official IMF approval that sees this currency obtain Special Drawing Rights status.

    Gaining SDR status has been a long term goal for both the Chinese political leadership and the Peoples Bank of China.

    If, as it is assumed, the Yuan is included as an IMF reserve currency, then it will join other global currency heavyweights in an exclusive club that includes, the US Dollar, the Euro, British Pound and Japanese Yen.

    The acceptance into this prestigious club would indicate that the IMF has looked past the problems that China has faced over the summer.

    Furthermore, it would appear that the currency devaluation that the PBOC initiated is not seen as an impediment for inclusion in the SDR basket.

    Although it is not thought that China will make any implicit commitments not to embark on further competitive devaluations, there does appear that the Chinese leadership will stick to a path that is more focused on consumption and less that is export driven.

    The inclusion of the Yuan into the IMF SDR basket is a symbolic win for the Chinese Government. However, this move by the IMF says a lot about the stance of the United States with respect to China.

    With the Chinese economy continuing to grow, albeit, at a reduced rate, the United States has shown its preference to accept a country that now boasts the second largest economy within a club that was up till now controlled from Washington.

    Any move by the United States to block the Yuan membership into the SDR basket would have meant China taking direction away from the influence of Western nations.

    The Chinese Yuan membership into the SDR basket could be seen as the beginning of the end of US Dollar dominance and the only global reserve currency.

    For sure, the US will have to loosen its grip on the IMF if it is going to accept the inclusion of the Yuan into the SDR basket.

    However, this is not a simple changing of the guard that sees China replacing the United States as the all-powerful economic superpower.

    The effects of the inclusion of the Yuan will be evolutionary rather than revolutionary as the Chinese Government moves further to transforming the country’s economy.

    In the long term, if the Chinese economy does continue to growth and if regulations are improved and brought in line with acceptable international standards, then we may find the world in a few decades from now that sees the United States become one two or three (if we include the Euro) global reserve currencies.

    In the short term, however, with both the European Central Bank and the Peoples Bank of China staying on a path of monetary easing and with the United States Federal Reserve about to begin a policy of tightening, the divergence of monetary policies should see the US Dollar maintain its global dominance.





    EURUSD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.0665

    Target 2: 1.0510

    Projected range in ATR’s: 0.0080

    Daily control level: 1.0640




    GBPUSD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.5115

    Target 2: 1.4950

    Projected range in ATR’s: 0.0081

    Daily control level: 1.5110




    USDJPY




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 123.30

    Target 2: 122.25

    Projected range in ATR’s: 0.55

    Daily control level: 122.30




    USDCHF




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.0370

    Target 2: 1.0230

    Projected range in ATR’s: 0.0073

    Daily control level: 1.0250




    USDCAD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.3435

    Target 2: 1.3290

    Projected range in ATR’s: 0.0073

    Daily control level: 1.3280




    AUDUSD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 0.7250

    Target 2: 0.7130

    Projected range in ATR’s: 0.0063

    Daily control level: 0.7240




    GOLD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1070.00

    Target 2: 1044.00

    Projected range in ATR’s: 12.96

    Daily control level: 1075.00




    OIL






    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 43.00

    Target 2: 41.00

    Projected range in ATR’s: 1.44

    Daily control level: 42.15






    MORE ON ACFXblog.com

  9. #509

    Default

    MORE ON ACFXblog.com











    MARKET BRIEFING – LONDON OPEN 01.12.2015






    As expected, the Chinese Yuan has been accepted by the International Fund into the basket of Special Drawing Rights currencies.

    This means barring any disasters, the Yuan will join an exclusive club of currencies in October of 2016.

    The head of the IMF, Christine Lagarde on a momentous day for China said of the Yuan’s acceptance as an SDR currency that this was “an important milestone in the integration of the Chinese economy into the global financial system”

    The Chinese Yuan new found status as a key component of the IMF’s basket of reserve currencies not only brings with it a great deal of prestige but is also a vote of confidence in the manner that the Chinese Government and the Peoples Bank of China have managed the recent crisis that has hit the domestic economy.

    The move by the IMF also signals and acceptance that the Peoples Bank of China is gaining increasing prestige and authority. The significance of the Yuan’s SDR acceptance, therefore, highlights that the Chinese Government has allowed a certain degree of power and control to be transferred from the ruling party to an independent, state organization.

    Furthermore, from a geopolitical aspect, the Yuan’s acceptance into the IMF’s SDR basket is a clear and strong message that the Chinese economy matters. The Chinese Yuan in a very short space of time has now become one or the major global currencies.

    Although we are some way from the USDCNY currency pair gaining the status of EURUSD for sure the time will come in the near future when CNY will become an important financial instrument.










    EURUSD





    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.0641

    Target 2: 1.0485

    Projected range in ATR’s: 0.0078

    Daily control level: 1.0636








    GBPUSD





    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.5137

    Target 2: 1.4975

    Projected range in ATR’s: 0.0081

    Daily control level: 1.4993



    USDJPY




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 123.70

    Target 2: 122.50

    Projected range in ATR’s: 0.59

    Daily control level: 122.67




    USDCHF




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.0363

    Target 2: 1.0211

    Projected range in ATR’s: 0.0076

    Daily control level: 1.0225




    USDCAD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.3435

    Target 2: 1.3283

    Projected range in ATR’s: 0.0076

    Daily control level: 1.3280




    AUDUSD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7295

    Target 2: 0.7160

    Projected range in ATR’s: 0.0068

    Daily control level: 0.7169




    GOLD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1079.00

    Target 2: 1051.00

    Projected range in ATR’s: 13.84

    Daily control level: 1075.00



    OIL




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 43.00

    Target 2: 41.00

    Projected range in ATR’s: 1.42

    Daily control level: 43.66






    MORE ON ACFXblog.com

  10. #510

    Default

    MORE ON ACFXblog.com








    MARKET BRIEFING – TECHNICAL ANALYSIS 02.12.2015






    EURUSD







    The intraday technical outlook

    EURUSD has breached the top of downtrend channel yesterday, with the move, however proved to be unsuccessful later.

    EURUSD needs to hold below 1.0610 level being the intraday Pivot Point if the price action is to continue the downward move.

    The initial downside target is 1.0583, being today’s Daily Average True Range (ATR) downside projection level. Should this level be reached successfully, a further extension towards 1.0535, which is 2nd pivot support of the pair.

    If EURUSD fails to maintain the downward momentum, a retracement higher could potentially unfold.

    If this scenario was to occur the target for today is 1.0634, being the pair’s 1st intermediate pivot resistance of today. In case this level is reached, a prolonged extension to 1.0658, being the 2nd upside resistance level, could further take place.





    GBPUSD







    The intraday technical outlook

    GBPUSD has bounced off the today’s pivot point this morning, retracing sharply from the yesterday’s highs.

    GBPUSD needs to hold below 1.5085 level, being the intraday Pivot Point if the price action is to continue its downward move.

    The initial downside target is 1.5001, being today’s Average True Range downside target of the pair. Should this level be reached, a further extension towards 1.4969, which is with the pair’s 3rd pivot support level of the day, could likely take place.

    If GBPUSD fails to maintain the downward momentum, a reversal and trading higher could potentially unfold.

    If this scenario was to occur, the target for today will be 1.5085, which is the pair’s Pivot Point of today.







    USDJPY






    The intraday technical outlook

    USDJPY does not let go of its efforts to trade higher.

    USDJPY needs to hold above the 122.95 level, being the intraday Pivot Point in order to hold the uptrend scenario.

    The initial upside target is 123.43, being today’s Average True Range upside target of the pair. Should this level be reached, a further extension towards 123.55, which is with the pair’s 2nd pivot resistance level of the day, could likely take place.

    If USDJPY fails to maintain the upward momentum, a retracement lower could potentially unfold.

    If this scenario was to occur the target for today is 122.92, which is the pair’s pivot point of today. In case this scenario will be activated, further extension to 122.56, being the pair’s 1st pivot support of today, could likely occur.




    USDCHF




    The intraday technical outlook

    USDCHF has breached the uptrend channel last night.

    USDCHF needs to hold below 1.0270 line being the intraday Pivot Point if the price action is to continue its downward move.

    The initial downside target is 1.0222, being the first 1st pivot support of today. Following that the pair will likely to strive towards 1.0211 level.

    If USDCHF fails to maintain downward momentum, a reversal higher could potentially unfold.

    If this scenario was to occur the initial upside target for today is 1.0318. A further extension towards 1.0336 resistance, which is also approximately coincides with the Average True Range upside target of today, could follow next in this case.



    USDCAD





    The intraday technical outlook

    USDCAD is striving to continue the upward move.

    USDCAD needs to hold above 1.3354 line being the intraday Pivot Point if the price action is to continue its upward move.

    The initial upside aim is 1.3400, being the pair’s the pair’s 1st resistance level of today. should this aim be reached, it will open the way towards 1.3428, being the daily Average True Range upside target.

    If USDCAD fails to maintain its upward momentum, a reversal and returning to trade lower could potentially unfold.

    If this scenario was to occur the target for today is 1.3332, which is the 1st intermediate pivot support level of the pair. A further extension towards of 1.3311 could then follow that move.



    AUDUSD




    The intraday technical outlook

    AUDUSD continues sharply higher on the way up this morning.

    AUDUSD needs to hold above 0.7292 level, being the intraday Pivot Point if the price action is to continue the upward move.

    The initial upside target for this afternoon will be 0.7388, being the upside projection level of the Daily Average True Range (ATR),

    If AUDUSD fails to maintain the upside momentum, a retracement lower could potentially unfold.

    If this scenario was to occur the target is 0.7292, being the pair’s pivot point of today. Should this level be reached, the extension towards 0.7252, which is the pair’s 1st pivot support line of today, and also coincides with downside projection level of the Daily Average True Range (ATR), could likely occur next.





    GOLD




    The intraday technical outlook

    Gold is retesting the top of the downtrend channel this morning.

    The commodity needs to hold below 1068.83 level, being the intraday Pivot Point if the price action is to continue its downward move.

    The initial downside target is 1063.20, being the commodity’s 1st pivot support level of today. Further extension towards 1057.49, could occur next following that.

    If the metal fails to maintain the downward momentum, a reversal and trading higher could potentially unfold.

    If this scenario was to occur, the target for today is 1074.54, which is the commodity’s 1st pivot resistance of today.



    OIL




    The intraday technical outlook

    Oil has bounced off the daily pivot point this morning, once again retesting the bottom of the daily upward trend channel.

    The commodity needs to hold below 42.24 level, being the intraday Pivot Point if the price action is to continue the downward move.

    The initial downside target is 41.69, which is the commodity’s first support level of today. Should the trading break below this level, the next commodity’s target could be 41.20 level, being the 2nd pivot support of today.

    If the commodity fails to maintain the downward momentum, a reversal and trading higher could potentially unfold.

    If this scenario was to occur the target for today is 42.49, being the commodity’s 1st intermediate pivot resistance level of today.








    MORE ON ACFXblog.com

Similar Threads

  1. Daily Technical Analysis by PipSafe
    By PipSafe in forum Technical analysis
    Replies: 165
    Last Post: 04-14-2015, 20:20
  2. MAYZUS Daily Technical Analysis
    By MAYZUS.Neeraj in forum Technical analysis
    Replies: 69
    Last Post: 05-19-2014, 08:47
  3. Daily Market Outlook from ACFX
    By Atlas CapitalFx in forum Technical analysis
    Replies: 39
    Last Post: 10-03-2013, 13:53
  4. Daily Technical Analysis
    By dailyfxanalysis in forum Technical analysis
    Replies: 0
    Last Post: 04-22-2013, 06:14
  5. Daily Technical Analysis for Majors
    By FxTT in forum Technical analysis
    Replies: 0
    Last Post: 03-11-2012, 21:50

Tags for this Thread

100, 100 pips, 100% bonus, 2011, abc, adx, analysis, average, bonus, breakout, broker, candle, candlestick, change, channel, closing, commission, comparison, contest, correlation, currency pairs, daily analysis, demo, demo contest, divergence, equation, eur, eur/usd, eurusd, fibonacci, forecast, forex, forex trading, free, fundamentals, fx trading, gbpusd, german, gold, high, historical, home, how to, indicator, intraday, investment, japan, level, live, live account, long term, low, main, managed, mirror, moving average, mt4, news, offer, oscillator, pivot, price action, profit, rating, real, resistance, review, rsi, sales, scalp, scalping, short term, signal, simple, sma, squeeze, strategy, study, support, system, technical analysis, test, time, trader, trading, trading forex, trailing, trend, usd

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •