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Thread: Daily Technical Analysis from ACFX

  1. #581

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    MARKET BRIEFING – LONDON OPEN 15.03.2016








    As expected, the Bank of Japan decided to keep the monetary policy unchanged at the meeting this morning. The policymakers, however, warned that current economic conditions remain of concern, hence, will likely become an impediment to reaching the previously set inflation objectives.

    “The BOJ is trying hard to reduce the impact that negative rates are having on the financial sector because banks have been very critical of this policy,” commented Hiroaki Muto, an economist at Tokai Tokyo Research Center to the Reuters this morning.

    At the moment, he interest rate was left at -0.1%, with the current quantitative easing program remaining at an annual pace of 80 trillion yen money base expansion and ETF buying program intact.

    It was also decided to exempt US$90 billion in short-term funds from the negative rates, as concerns from the investment industry suggested that funds could end up in bank deposits.

    However, perhaps the biggest surprise to investors was the alteration of the statement language, suggesting that a further progression of the interest rates into negative territory might be coming to an end.

    The Japanese yen strengthened against the US dollar, reaching 113.56 this morning after the news were announced. The Nikkei index, on the other hand, weakened, as it was trading almost 1% lower on a day.









    EURUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.1210

    Target 2: 1.0990

    Projected range in ATR’s: 0.0113

    Daily control level: 1.1070






    GBPUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.4430

    Target 2: 1.4170

    Projected range in ATR’s: 0.0131

    Daily control level: 1.4250




    USDJPY





    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 115.00

    Target 2: 112.60

    Projected range in ATR’s: 1.20

    Daily control level: 114.20




    USDCHF




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 0.9965

    Target 2: 0.9780

    Projected range in ATR’s: 0.0093

    Daily control level: 1.0090





    USDCAD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.3400

    Target 2: 1.3130

    Projected range in ATR’s: 0.0136

    Daily control level: 1.3405




    AUDUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7600

    Target 2: 0.7400

    Projected range in ATR’s: 0.0096

    Daily control level: 0.7420




    GOLD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1261.00

    Target 2: 1211.00

    Projected range in ATR’s: 24.89

    Daily control level: 1262.00


    OIL



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 39.00

    Target 2: 35.70

    Projected range in ATR’s: 1.68

    Daily control level: 39.00






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  2. #582

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    MARKET BRIEFING – LONDON OPEN 16.03.2016







    This afternoon, the Federal Open Market Committee is due to give it latest interest rate decision. Back on December 15, the FOMC decided to commence a policy change which forecasts interest rates being increased a further four times during 2016. Such a policy shift would lead to the Fed Funds rate increasing to 1.4% by the end of the year.

    However, just a few hours before the March meeting and with the state of the domestic economy not convincing many market participants that we are ready for a rate increase, anytime soon it would appear that a rate rise later today is not on the agenda. In light of this, it would seem that time is running out for Chairwoman Yellen to push through and complete a four hike dot plot scenario.

    According to latest data, the market has priced in a small probability that interest rates will be increased today by the FOMC from the current 0.50% target. Interestingly, however according to market pricing, the likelihood of a rate hike happening today has grown.

    The change in market sentiment and how it views the possible course that the FOMC could take today and during the rest of 2016 is being influenced by a continuation of the strong jobs numbers and what is seen as a more positive economic outlook.

    Yellen and her fellow committee members although dependent on data are mindful that their policy decisions should not be viewed to be overly influenced by the most recent financial news release.

    Trying to keep the correct balance between market expectations and affecting the market through the application of forward guidance is a difficult task. Notwithstanding this, and due to current developments and the overall positive momentum in the data, it would not be unexpected to see a more hawkish tone being set by the FOMC later today.






    EURUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.1215

    Target 2: 1.0990

    Projected range in ATR’s: 0.0112

    Daily control level: 1.1070



    GBPUSD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.4285

    Target 2: 1.4015

    Projected range in ATR’s: 0.0136

    Daily control level: 1.4450




    USDJPY




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 114.35

    Target 2: 112.00

    Projected range in ATR’s: 1.20

    Daily control level: 114.20




    USDCHF




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 0.9960

    Target 2: 0.9780

    Projected range in ATR’s: 0.0091

    Daily control level: 1.0090




    USDCAD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.3480

    Target 2: 1.3220

    Projected range in ATR’s: 0.0129

    Daily control level: 1.3405



    AUDUSD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7550

    Target 2: 0.7365

    Projected range in ATR’s: 0.0095

    Daily control level: 0.7420



    GOLD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1256.00

    Target 2: 1209.00

    Projected range in ATR’s: 23.69

    Daily control level: 1262.00



    OIL




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 38.25

    Target 2: 35.15

    Projected range in ATR’s: 1.58

    Daily control level: 39.00






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  3. #583

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    MARKET BRIEFING – LONDON OPEN 17.03.2016






    The US dollar tumbled on the FOMC statement last afternoon when policymakers decided to revise down monetary policy targets, set according to the much-discussed dot plot.

    Even though the benchmark interest rate remained unchanged, the promised earlier four rate hikes this year were reduced to two, as the country’s economic growth and inflation expectations were also downgraded.

    According to the statement, a risk from the global economic and financial developments persists, with the local jobs market needing some improvements. The US stock market had an edgy start of the year and despite some improvements, still trading downtrend scenario. That could suggest tightening the monetary policy will be too early for now.

    Even though Federal Reserve remains flexible with their action and ready to respond whenever it is necessary, it is nevertheless not an option to consider the negative interest rates yet.

    The US Dollar Index declined to a one-month low, reaching 95.55 level last afternoon. Oil prices resumed the upward trend, with the WTI trading above 40.80 levels this morning.

    Gold reacted positively too, as investors are looking for a safe harbour for their investments. The precious metal returning to trade within recently breached uptrend channel when it reached 1263.75 on the news.

    Today, traders’ attention will switch to the interest rate decision and the monetary policy summary by the Bank of England at 12:00 pm London’s time. The rate is expected to stay without changes at 0.5%. Volatility in GBP pairs could be observed.










    EURUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.1325

    Target 2: 1.1100

    Projected range in ATR’s: 0.0114

    Daily control level: 1.1050



    GBPUSD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.4385

    Target 2: 1.4115

    Projected range in ATR’s: 0.0139

    Daily control level: 1.4450






    USDJPY



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 113.90

    Target 2: 111.40

    Projected range in ATR’s: 1.24

    Daily control level: 113.85




    USDCHF



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 0.9870

    Target 2: 0.9685

    Projected range in ATR’s: 0.0094

    Daily control level: 0.9920





    USDCAD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.3265

    Target 2: 1.2965

    Projected range in ATR’s: 0.0149

    Daily control level: 1.3405



    AUDUSD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7660

    Target 2: 0.7460

    Projected range in ATR’s: 0.0094

    Daily control level: 0.7420




    GOLD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1285.00

    Target 2: 1236.00

    Projected range in ATR’s: 24.51

    Daily control level: 1225.00



    OIL



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 40.15

    Target 2: 37.00

    Projected range in ATR’s: 1.62

    Daily control level: 36.00






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  4. #584

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    MARKET BRIEFING – LONDON OPEN 18.03.2016






    The US dollar declined on the overly dovish FOMC statement this Wednesday. The move lower resulted in a break of the ten-month uptrend channel and could be an important sign for the future direction of the world’s major reserve currency. The decline followed the last week’s plunge as a reaction to the European Central Bank’s policy and is a strongest decline of the currency within the last two years.

    Despite concerns, analysts believe that it is still unlikely that the US dollar will simply collapse against its major counterparts. This is due to the relative strength of the US economy in comparison with conditions in the rest of the world.

    In the wake of the cautious Fed stance gold has reclaimed the upside momentum with the metal currently trading above the 1260.00 mark. Gold has always been considered investor’s safe harbour, it is logical that we are now seeing the increased demand for the metal among such a vast uncertainty in the world’s markets.

    Surprisingly, the oil has also joined the best market performers’ league, as it reached a new 2016 high this morning. Looking at the commodity’s 4-hour chart, it might be still too early to get excited about the long-term change of direction. Taking the WTI as an example, the commodity is still trading below the recently breached uptrend channel and needs to return to its limits so more bullish bets could be made.









    EURUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.1430

    Target 2: 1.1195

    Projected range in ATR’s: 0.0118

    Daily control level: 1.1050



    GBPUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.4625

    Target 2: 1.4325

    Projected range in ATR’s: 0.0150

    Daily control level: 1.4215





    USDJPY



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 112.70

    Target 2: 110.00

    Projected range in ATR’s: 1.29

    Daily control level: 113.85



    USDCHF



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 0.9765

    Target 2: 0.9570

    Projected range in ATR’s: 0.0098

    Daily control level: 0.9920



    USDCAD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.3135

    Target 2: 1.2830

    Projected range in ATR’s: 0.0153

    Daily control level: 1.3405



    AUDUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7740

    Target 2: 0.7515

    Projected range in ATR’s: 0.0102

    Daily control level: 0.7420



    GOLD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1281.00

    Target 2: 1233.00

    Projected range in ATR’s: 24.01

    Daily control level: 1225.00



    OIL




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 41.80

    Target 2: 38.60

    Projected range in ATR’s: 1.62

    Daily control level: 38.65






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  5. #585

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    MARKET BRIEFING – LONDON OPEN 21.03.2016







    The Gold market demonstrated a downward momentum as investors engaged in profit-taking. The metal has been appreciating in value since the middle of December 2015, but this month it showed signs of stagnation, hinting that a move further up might come to a halt. This morning the metal was trading at US$ 1240.49, versus US$ 1270.76 high of last week.

    By looking at the technical indicators, we can see that the Gold price has breached the 4 hours uptrend channel last Monday. Also, it failed an attempt to return to the channel limits by the end of the week, which could be another sign that the metal might retrace.

    The edging down in the precious metal’s price also coincided with a recovery in the US dollar value by the close of the Friday’s trading session, as both products historically have a negative correlation.

    The recent events have shown that the US and European Central Banks are inclined towards the keeping the monetary easing measures for longer as the corresponding economies still have a hard time to recover. Nevertheless, some analysts believe, there are considerably fewer policy tools left to implement. Hence, this could support the new downturn bias in gold.

    Oil prices also retraced as well since last Friday. The commodity reached a new high of this year and WTI surpassing a US$ 42.50 mark. The next critical level and support of US$ 40.00 are also a downside target, which the oil could retest before deciding on the move further.









    EURUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.1385

    Target 2: 1.1150

    Projected range in ATR’s: 0.0119

    Daily control level: 1.1250




    GBPUSD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.4610

    Target 2: 1.4310

    Projected range in ATR’s: 0.0151

    Daily control level: 1.4400




    USDJPY



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 112.70

    Target 2: 110.35

    Projected range in ATR’s: 1.18

    Daily control level: 113.85



    USDCHF



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 0.9790

    Target 2: 0.9600

    Projected range in ATR’s: 0.0098

    Daily control level: 0.9920




    USDCAD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.3175

    Target 2: 1.2870

    Projected range in ATR’s: 0.0152

    Daily control level: 1.2915




    AUDUSD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.7695

    Target 2: 0.7490

    Projected range in ATR’s: 0.0102

    Daily control level: 0.7420




    GOLD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1278.00

    Target 2: 1230.00

    Projected range in ATR’s: 24.2

    Daily control level: 1225.00



    OIL



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 40.70

    Target 2: 37.40

    Projected range in ATR’s: 1.66

    Daily control level: 41.25





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  6. #586

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    MARKET BRIEFING – TECHNICAL ANALYSIS 22.03.2016







    EURUSD




    The intraday technical outlook

    EURUSD has been trading in a corrective downtrend since Friday.

    However, this morning an acceleration of the move lower occurred following the rejection of the Daily Pivot (1.1252).

    EURUSD has subsequently traded down to S2 (1.1197) which coincides with the 50% Fibonacci support level.

    Bounce off S2 could see EURUSD trade back up to the Daily Pivot.

    Alternatively, a failure of the price action to hold above S2 could see EURUSD trade down to S3 (1.1167) which coincides with the 61.8% Fibonacci support level.




    GBPUSD




    The intraday technical outlook

    GBPUSD has been trading in a corrective downtrend since Monday.

    However, this morning an acceleration of the move lower occurred following the rejection of the Daily Pivot (1.4399).

    GBPUSD has subsequently sliced through S2 (1.4297) which coincides with the 50% to 61.8% Fibonacci support level area.

    Support within this support area could lead to the price action trading back above S2 and possibly S1 (1.4332).

    Alternatively, a failure of the price action to trade above S2 could see GBPUSD trade down to S3 (1.4229)



    USDJPY




    The intraday technical outlook

    USDJPY has been trading in a corrective uptrend since Friday.

    However, this morning a resumption of the downtrend has occurred following a rejection of R1 (112.21).

    USDJPY has subsequently sliced through the Daily Pivot (111.71) and tested and bounced off S1 (111.45)

    Support within this support area could lead to the price action trading back above the Daily Pivot and possibly R1.

    Alternatively, a failure of the price action to trade above the Daily Pivot could see USDJPY re-test S1





    USDCHF




    The intraday technical outlook

    USDCHF has been trading in a corrective uptrend since Friday.

    During the morning USDCHF has attempted to re-test yesterday’s high and today’s R1 level (0.9731)

    A breach of R1 could lead to a continuation of the move higher that sees USDCHF test R2 (0.9758) and the upper level of the down channel.

    Alternatively, a failure of the price action to trade above the R1 could see USDCHF re-test the Daily Pivot.




    USDCAD



    The intraday technical outlook

    USDCAD has experienced a volatile morning session as traders wait for the outcome of Canadian Government’s Annual Budget Statement.

    This volatility initially led to a test of the Daily Pivot (1.3072) and then a spike that was however rejected at R1 (1.3127).

    Market uncertainty could continue in the lead up to tonight’s major event.

    Before the release of the budget statement moves above R1 and below S1 (1.3043) could be seen as potential fading opportunities




    AUDUSD



    The intraday technical outlook

    AUDUSD has experienced a volatile morning session as traders digest the Reserve Bank of Australia Governor upbeat assessment of the Australian economy.

    This volatility initially led to a broad trading range with both R1 (0.7614) and S1 (.0.7556) being tested.

    As AUDUSD has now initially rejected the 50% Fibonacci support level a resumption of the prior uptrend could see AUDUSD re-test R1.

    Alternatively, a failure to hold above S1 could lead to the price action trading down to the 61.8% Fibonacci level (0.7515).




    GOLD



    The intraday technical outlook

    This morning XAUUSD has resumed its uptrend following a bounce off the 50% to 61.8% Fibonacci support area.

    The move higher sliced through R1 (1252.56) but failed to reach R2 (1261.65) as the price action found resistance at a prior weekly swing level (1260.00)

    A continuation of the uptrend could see Gold retest the 1260.00 level and then R2).

    Alternatively, a failure to hold above the Daily Pivot (1246.50) could lead to the price action trading back down into the 61.8% Fibonacci support area.




    OIL



    The intraday technical outlook

    Oil has experienced a two day down trend. However, lower prices were yesterday rejected at S1 (40.70),

    This morning Oil has traded within a tight range at the highs of yesterday’s price action and above today’s Daily Pivot (41.25).

    A continuation of the uptrend could see Oil test the R1 (42.10)

    Alternatively, a failure to hold above the Daily Pivot could lead to the price action trading down S1 (40.74)





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    MARKET BRIEFING – TECHNICAL ANALYSIS 23.03.2016







    EURUSD



    The intraday technical outlook

    EURUSD has breached the uptrend channel, and is now heading to retest the bottom of the daily channel.

    EURUSD needs to hold below 1.1220 level being the intraday Pivot Point if the price action is to continue the downward move.

    The initial downside target is 1.1148, which is the 2nd pivot support level. Should this mark be reached successfully, a further extension to 1.1100, being the Daily Average True Range (ATR) downside projection of today, could be observed further.

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

    If this scenario was to occur the target for today is 1.1253, being the pair’s 1st pivot resistance of today.




    GBPUSD



    The intraday technical outlook

    GBPUSD is heading to retest the bottom of the daily uptrend channel after it was unable to support the move higher.

    GBPUSD needs to hold below 1.4266 level, being the intraday Pivot Point if the price action is to continue its downward move.

    The initial downside target is 1.4135, being the 1st pivot support of today. Should this target be reached, the extend to 1.4065, which is the Daily Average True Range (ATR) downside projection of today, could take place next.

    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 1.4342, which is 1st pivot resistance of today.



    USDJPY



    The intraday technical outlook

    USDJPY is retesting the top of the downtrend channel.

    USDJPY needs to hold above 112.07 level, being the intraday Pivot Point in order to continue the uptrend scenario.

    The initial upside target is 113.20, being the 2nd intermediate pivot resistance. Should this level be reached, a further extension towards 113.50, which is the Daily Average True Range (ATR) upside projection of today, could take place next.

    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 111.67, which today’s 1st pivot resistance level.



    USDCHF



    The intraday technical outlook

    USDCHF has bounced off the top of the daily uptrend channel. In addition, the pair is looking to reconfirm the breach of the daily uptrend channel.

    USDCHF needs to break below 0.9716 line being the intraday Pivot Point if the price action is to continue its downward move.

    The initial downside target is 0.9698, being the pair’s 1st intermediate pivot support. Should that level be reached, the pair could extend trading towards 0.9668, which is the 2nd pivot support of today.

    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 will be 0.9795, being the pair’s 3rd pivot resistance of today.



    USDCAD



    The intraday technical outlook

    USDCAD has breached the bottom of the downtrend channel and today is looking to reconfirm it.

    USDCAD needs to hold below 1.3069 level being the intraday Pivot Point, if the price action is to continue its downward move.

    The initial downside aim is 1.3000, being the next key level together with 1st pivot support of today. After the level is reached, the pair could extend trading towards 1.2895, which is the Daily Average True Range downside projection target.

    If USDCAD fails to maintain the downward momentum, a reversal and returning to trade higher could potentially unfold.

    If this scenario was to occur the target for today is 1.3195, which is the pair’s Daily Average True Range upside projection level of today.



    AUDUSD



    The intraday technical outlook

    AUDUSD is consolidating above the recently breached uptrend channel.

    AUDUSD needs to hold above 0.7602 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 0.7654, being the 1st pivot resistance of today. Should this aim be reached successfully, a further stretch towards 0.7710, which is the Daily Average True Range upside projection level, could follow next.

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

    If this scenario was to occur the target is 0.7520, being the Daily Average True Range downside projection level of today.



    GOLD



    The intraday technical outlook

    Gold has reconfirmed the breach of the uptrend channel as the US dollar has gained strength.

    Gold needs to hold below 1250.12 level, being the intraday Pivot Point if the price action is to continue the downward move.

    The initial downside target is 1222.39, being the 3rd pivot support of today. Should this target be reached, Gold could extend to 1211.93, which is the Daily Average True Range (ATR) downside projection level.

    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 1250.15, which is the commodity’s pivot point of today.




    OIL



    The intraday technical outlook

    Oil is retesting the bottom of the newly created extension of the uptrend channel.

    The commodity needs to break above 40.70 level, being the intraday Pivot Point if the price action is to continue the upward move.

    The initial upside target is 41.97, being 1st pivot resistance of today. Should this target be reached successfully, a move towards 42.70, which is the Daily Average True Range (ATR) upside projection level of today, could follow next.

    If the Oil fails to maintain the upside momentum, a reversal and trading lower could potentially unfold.

    If this scenario was to occur the target for today is 40.35, being the commodity’s 2nd pivot support of today.







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  8. #588

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    MARKET BRIEFING – LONDON OPEN 24.03.2016




    This morning will begin with the monthly report on the UK Retail Sales at 9:30 a.m. London time, released by the Office for National Statistics.

    The Retail Sales indicator tracks a change in the total value of inflation-adjusted sales at the retail level. As the consumer spending constitutes the majority of a country’s economic activity, the announcement will likely to cause a volatility of the GBP pairs.

    The change in the inflation-adjusted sales is forecasted to decline to -0.7%, after the 2.3% improvement in the February’s release. As British Pound continues to weaken, the figures lower than expected could put downward pressure.

    Following that the weekly US Unemployment Claims data will come into the spotlight at 1:30 p.m. London time. Also known as Jobless Claims, the indicator represents a measure of completed unemployment insurance forms that were submitted by individuals for the first time within a previous week.

    Initial jobless claims have a big impact on financial markets because it shows a new and emerging unemployment and provides a gauge of strength in the US labour market. As employment figures and consumer spending are directly correlated, the statistics give an overview of the US economic activity.

    The forecasted value for today’s release stands at 267.000, with the expected increase from the previous 265.000 number.

    At the same time, traders will be on the lookout for the US the monthly Core Durable Goods Orders report, which usually has a high impact on the FOREX market.

    This report measures the change in the total value of new purchase orders placed with domestic manufacturers for delivery of durable goods, excluding transportation items. The value for the previous period was published as 1.8% while the forecast for this reporting period is -0.2%.











    EURUSD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.1285

    Target 2: 1.1070

    Projected range in ATR’s: 0.0109

    Daily control level: 1.1260




    GBPUSD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.4260

    Target 2: 1.3970

    Projected range in ATR’s: 0.0147

    Daily control level: 1.4400




    USDJPY




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 113.50

    Target 2: 111.20

    Projected range in ATR’s: 1.14

    Daily control level: 112.20




    USDCHF



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.9840

    Target 2: 0.9660

    Projected range in ATR’s: 0.0091

    Daily control level: 0.9670




    USDCAD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.3355

    Target 2: 1.3050

    Projected range in ATR’s: 0.0152

    Daily control level: 1.3020




    AUDUSD




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 0.7630

    Target 2: 0.7435

    Projected range in ATR’s: 0.0098

    Daily control level: 0.7650




    GOLD





    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1243.00

    Target 2: 1198.00

    Projected range in ATR’s: 22.82

    Daily control level: 1260.00




    OIL




    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 41.25

    Target 2: 38.00

    Projected range in ATR’s: 1.62

    Daily control level: 42.60







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  9. #589

    Default

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    MARKET BRIEFING – LONDON OPEN 25.03.2016







    This afternoon at 12:30 pm London the Bureau of Economic Analysis publishes its latest Final GDP report.

    This report measures the annualized increase or decrease of all production which includes services that the US economy producers.

    This report is produced on the quarterly basis and is released some 85 days after the quarter ends.

    GDP data is released in three different versions being the Preliminary, Final and Advance GDP numbers. Of the three data sets, the Advanced GDP is the most followed as it is the earliest release and therefore usually has the greatest effect.

    GDP data is an important measure of countries economic wellbeing as a productive activity. Expanding or contraction productivity can be used as an early barometer which measures expanding or contracting economic activity.

    The prior GDP release showed indicated an expansion of 1.0% with the market consensus expecting today’s number to be unchanged.

    In general, a GDP release that is greater than the forecast should lead to an appreciation of the US Dollar.









    EURUSD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.1285

    Target 2: 1.1070

    Projected range in ATR’s: 0.0106

    Daily control level: 1.1260



    GBPUSD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.4300

    Target 2: 1.4005

    Projected range in ATR’s: 0.0146

    Daily control level: 1.4400




    USDJPY



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 113.95

    Target 2: 111.70

    Projected range in ATR’s: 1.14

    Daily control level: 112.35



    USDCHF



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.9845

    Target 2: 0.9670

    Projected range in ATR’s: 0.0088

    Daily control level: 0.9735




    USDCAD




    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.3390

    Target 2: 1.3090

    Projected range in ATR’s: 0.0150

    Daily control level: 1.3020




    AUDUSD





    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 0.7615

    Target 2: 0.7425

    Projected range in ATR’s: 0.0095

    Daily control level: 0.7650










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  10. #590

    Default

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    MARKET BRIEFING – LONDON OPEN 28.03.2016






    Today the Easter bank holidays carries on in many European countries, among which are France, Germany and Italy. Hence, the morning trading session is promising to be quiet.

    Observing the markets, the Japanese Yen was the major underperformer this morning, when USDJPY reached 113.68 high. This action was mainly due to the stronger Nikkei 225 index, which undermined demand for the low-risk currency.

    Oil price continued to rebound from the last week lows and is heading for a second straight monthly gain. Thus, Brent oil was trading at US$ 41.55 this morning, whereas WTI extended to US$ 40.36. That could probably decrease the expectations that Saudi Arabia, the major oil exporter, would abandon it currency peg to the US Dollar, which is in place since 1986.

    Looking forward to the afternoon session the US Personal Consumption Expenditure will be released by the Bureau of Economic Analysis at 1:30 pm London time. The data representing the amount of goods and services consumed by individuals in the month of February, this time, is expected to decline to 0.2% after it showed 0.3% increase last month.

    At the same time, the US personal spending numbers will also be published. The previous results of the change in inflation-adjusted value of consumer expenditures showed 0.5% increase, whereas expectations for today’s data stand at 0.2%

    Pending home sales will round up this news day at 3:00 pm. The data shows a change in the number of homes, which are still awaiting to be sold but already having a contract transaction and is forecasted to improve to 1.2%, up from -2.5% of last time.

    Should US data come better than expected that could boost the recovery of the US currency? The US Dollar has opened this week with the gap up extending to 96.40 mark, which is the currency’s six- week high.












    EURUSD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.1265

    Target 2: 1.1065

    Projected range in ATR’s: 0.0103

    Daily control level: 1.1190



    GBPUSD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1.4265

    Target 2: 1.3985

    Projected range in ATR’s: 0.0141

    Daily control level: 1.4185



    USDJPY



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 114.25

    Target 2: 112.00

    Projected range in ATR’s: 1.11

    Daily control level: 112.35




    USDCHF



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 0.9850

    Target 2: 0.9680

    Projected range in ATR’s: 0.0085

    Daily control level: 0.9735




    USDCAD



    The intraday technical outlook

    Trend 1 hour: Up

    Target 1: 1.3415

    Target 2: 1.3125

    Projected range in ATR’s: 0.0145

    Daily control level: 1.3020



    AUDUSD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 0.7600

    Target 2: 0.7420

    Projected range in ATR’s: 0.0093

    Daily control level: 0.7540




    GOLD



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 1238.00

    Target 2: 1194.00

    Projected range in ATR’s: 22.45

    Daily control level: 1224.00



    OIL



    The intraday technical outlook

    Trend 1 hour: Down

    Target 1: 41.35

    Target 2: 38.50

    Projected range in ATR’s: 1.45

    Daily control level: 42.00








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