USD/CAD – Canadian Dollar Steady as Unemployment Claims Jump

USD/CAD – Canadian Dollar Steady as Unemployment Claims Jump

USD / CAD continues to test the line 1.04 Thursday. The pair is trading just below this key level in the North American session. In economic news, unemployment claims in the US rose, reaching their highest level since April. Canada continues to have low inflation indicators, such as the index of new home prices rose just 0.1% in September. In the US, Unemployment Claims was a huge disappointment, soaring to its highest level since April. In other news, Janet Yellen has been nominated by President Obama to head the Federal Reserve. In addition, the minutes of the FOMC meeting indicated that most policy makers favor tapering QE before the end of the year.

As expected, President Obama appointed Susan Yellen to head the Federal Reserve. Yellen take over from Bernard Bernanke, who is due to retire next year. Yellen, who is currently vice president of the Fed, became the main candidate after former Treasury Secretary Lawrence Summers withdrew his candidacy. Yellen is considered favorable to the status quo in position and supported Bernanke in three rounds of QE increases. His appointment must be confirmed by the Senate, but it should be widely approved for the new position.

The Federal Reserve policy meeting minutes, a highly anticipated event, was released Wednesday. At the meeting, the Fed surprised markets by opting to stay on course with its bond purchase program, which is taking place at 85 billion $ / month. The minutes said that the decision not to start narrowing was a "close call". This has increased speculation that we could see narrowing before the end of the year. However, the monkey wrench in all this is the financial uncertainty of the judgment and the threat of the debt crisis. In addition, the Fed relies heavily on key releases such as non-farm payrolls, which were hanging off. It is unlikely that we will see any attempt to reduce QE before December at the earliest.

As if Congress does not have its plate full with the budget deficit and to stop a debt ceiling crisis and could trigger a devastating financial crisis. The US has a debt of $ 16700000000000, and the country will run out of funds to pay off debt on October 17 unless Congress authorizes the raising of the debt ceiling. Otherwise, the US could potentially default on its obligations, which could cause chaos in national and international markets. There are a lot of bad blood between Republicans and Democrats on the closure, and this will undoubtedly complicate negotiations on the debt ceiling. There are signs of some progress, the talks between the parties on the possibility of a short-term increase in the debt limit, avoiding a default for now.

USD / CAD for Thursday, October 10, 2013

USD / 10 CAD October at 13:45 GMT

USD / CAD 1 0393 H: 1.0419 L: 1.0392

USD / technical CAD

S3	S2	S1	R1	R2	R3
1.0224	1.0282	1.0337	1.0442	1.0502	1.0573

• USD / CAD has stabilized Thursday trading. The pair broke above the 1.04 line in the European session, but has since edged lower.
• The pair continues to face resistance line at 1.0442. It is followed by resistance to 1.0502. This line has remained intact since the beginning of September.
• USD / CAD is to receive support at 1.0337. This is followed by a support level at 1.0282
• Current range :. 1.0337 to 1.0442

Other levels in both directions

• Below: 1.0337, 1.0224 , 1.0158 and 1.0068
• above 1.0442, 1.0502, 1.0573 and 1.0652

O Open ratio positions ANDA

report USD / CAD almost unchanged in trading Thursday. This is reflected in the current movement of the pair, which continues to remain close to the line 1.04. The report must be composed of a majority of long positions, indicative of a bias to trade to the US dollar higher movement.

USD / CAD remains close to the line 1.04. The rise of the pair was blunted by a low unemployment claims released, so we can see the pair remain close to that level during the day.

USD / CAD Fundamentals

• 12:00 US Secretary of the Treasury Jack Lew Speaks. Lew will testify on the debt limit before the Senate Finance Committee.
• 24:30 US unemployment claims. 307K estimate. actual 374K.
• 24:30 Canadian NHPI. 0.3% estimate. Actual 0.1%.
• 1:45 p.m. US FOMC Member Bullard Speaks James.
• 2:30 p.m. US natural gas storage. 96B estimate.
• 5:01 p.m. US Bond Auction 30.
• 4:45 p.m. US FOMC Member Daniel Tarullo Speaks.

* the major releases are highlighted in bold

* All GMT release time

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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OANDA MP – Sterling Pounded on Weak CPI (Video)

OANDA MP – Sterling Pounded on Weak CPI (Video)

With the book to come under pressure in response to lower core inflation data from the UK , senior market analyst Craig Erlam looks on the cards GBPUSD, EURGBP and GBPJPY, and also provides an update on Brent, WTI crude and gold.

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NZD/USD Technicals – Staying Under 0.83

NZD/USD Technicals – Staying Under 0.83

NZD / USD pushed higher today, erasing all of yesterday's losses caused by trade balance lower than expected. However, this time there was no economic news releases that could have triggered such a "good impression" factor on the Kiwi dollar. The only upside driver was feeling a little more positive upward that led Asian stocks higher (Nikkei 225 + 1.22%, Kospi + 0.46%), but gains in New Zealand major indexes were more modest, NZX 50 growth of 0.02% and the NZX 10 Index gained just over 0.12%. Midcap index declined instead, closing 0.08% lower, suggesting that gains NZ stocks that are volatile and less directional movements. Although she was bullish directional, it is difficult to justify nearly 60 pips move in the NZD / USD with this sweet bullish sentiment.

Therefore, we are once again left with Technicals as a reasonable explanation for why NZD / USD pushed higher. There is some truth in this statement as there were technical influences of notes in the sell-off that pushed prices down to 0.822. In this light, it is understandable to see how prices have managed to hit the resistance of 0.829 today as it is simply the result of technical bulls pushing prices to rebound from the 0822 and 0824 support levels.

hourly chart

If the above statement is true, then the probability of 0.829 maintaining resistance becomes higher because there is not nothing fundamental that can help sell more optimistic force. Technical bear should be more to the task, especially as the stochastic overbought readings are already deeply with Stoch curve is lower score. A bearish signal is formed if price manage to trade below 0.827 Stoch line coinciding with the growing below 80.0

Weekly Chart

weekly chart is slightly bearish current price level is an affirmation of the bearish rejection 0.85. Stochastic agrees that the readings are already in the overbought region, opening the possibility of a future downward cycle (which can be as Stoch indicators are now late) that can lead us to 0.81 or higher depending on the Top Channel more high.

Basically, the case for a stronger NZD is there but perhaps pairing with stronger USD may not be the best idea that we could end up with two opposite directionless competing forces. Therefore, traders should continue to seek alternatives other NZD pairs that can provide strong directional movements

Links :.
GBP / USD - Rebounds well off support at 1.60
AUD / USD - Continues to Drift Lower below 0.94
EUR / USD - Inverse strongly back above 1.35

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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EUR/USD Technicals – Assessing the ECB Aftermath

EUR/USD Technicals – Assessing the ECB Aftermath

Time Table

EUR / USD tanked following the fall of the ECB's surprise rate. The central bank reduced the benchmark interest at a record high of 0.25%, while the refinancing rate of the bank was also similarly cut to 0.75%. Not only that, the president Draghi has also hinted that more rate cuts may be possible in the future, saying that policy makers could further reduce rates "in principle", as the ECB had "a range of instruments to activate before reaching the lower limit. "

therefore, even if the rate cut was surprising, the decline resulting 0 pips was not. What is more interesting is the strong pullback that followed, where prices have retraced all but 50 pips losses during the US session. generally, post pullbacks events are common, but in this case the retracement was significantly much higher being Because the new event proved to be a huge downside surprise. Swap Index price has a 4% risk that the ECB will reduce rates this time, so in theory we should have at least seen a huge price revaluation that was sustainable.

the magnitude of the decline yesterday we said that this new "equilibrium" following new rate outlook is only about 100 pips, very little since the expected rate cuts ECB in the recent past have resulted in pushing harder bearish. Therefore, it seems reasonable to think that there are significant buyers of EUR / USD which consider lower ECB rates and future rate cuts as a worthy deterrent.

What could it then?

a reason could be the speculators preemption of a lower than expected nonfarm payroll today, speculators believe that fuel the case for the prosecution or perhaps luck out additional quantitative easing . Ironically, with the ECB surprising the market with a movement of easing speculation for the Fed to pull a dove out of his hat becomes even greater. This leads to the weakening USD and contributed pulled EUR / USD yesterday.

However, contrary to the ECB's event, which was unexpected, a weaker than expected NFP (below analysts consensus estimate of 125K to be exact) scenario could already fully in prices. therefore bullish response can be cut later today, and the risk of a downward surprise for EUR / USD is higher. In addition, the downward trend of the EUR / USD remains in play, even if the EUR / USD rally following a dismal NFP print, failure to break 1.3525 to 1.355 resistance band can cause strong downward reaction because it can be interpreted as a confirmation overall bearish bias.

moral of the story?

bearish EUR / USD remains, and speculators who hope to see weaker USD and thus higher EUR / USD can lose. 2 wrongs do not make a right, and even a weak USD coupled with a weaker EUR should not inspire a long-term bullish outlook for EUR / USD

Links :.

GBP / USD - resistance remains around 1.61
AUD / USD - Continues to Drift below 0.95
EUR / USD - drops sharply but rebounded off support at 1.33

This article is only for general information purposes . It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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AUD/USD Technicals – Bears Ignoring Improved Trade Balance, Higher Stock Prices

AUD/USD Technicals – Bears Ignoring Improved Trade Balance, Higher Stock Prices

AUD remained bearish despite better than expected trade balance released today. November Trade Balance thrust to 5 month low, reaches -0.12B AUD AUD against -0.30B expected. This should have been a bullish catalyst for AUD as this is an indication that less money circulating outside the country. However, AUD / USD failed to stay above 0.894 support and we will now trade under the floor of consolidation with prices attempting to test the 0.894 resistance turned support.

To be fair, it should be noted that sentiment bearish AUD / USD was already high. Companions may Currencies GBP / USD and EUR / USD actually mobilized during US session yesterday and although AUD / USD push up, the scale is smaller than the other 2. Prices also started pushing lower heavily just before the trade Balance figures were released, most likely due to the bearish rejection 0.897 resistance. However, it should be noted that risk appetite in Australia is actually upward with the main stock index ASX 0 gained more than 0.25% now. Therefore, it is clear that bearish sentiment is strong, and suspect that AUD / USD may be even lower if not for the upward thrust of the trade balance number.

Time Table

Given this strong canvas bearish cross, it is unlikely that the price can be able go back above 0.894, and a push towards recent swing low of 0,885 is possible. However, since the stochastic readings are close to the oversold region, bears may find significant support from 0.89 round number and flexible support seen during the first 2 days of trading in 2014.

If 0.894 is violated because the declining prospects should be revised because it suggests that the bearish rejection of 0.897 can be a little too aggressive and we may see an upward acceleration can occur to 0.897.

Daily chart

bearish outlook on daily chart remains in play with 0882 Top Channel and as downside targets. With this in mind, even if prices push higher in the short term, do not expect to be broken 0.897 and 0.894 new test likely remains the bullish scenario S / T should occur.

Links:
GBP / USD - Active Paper as the UK, US services PMIs Dip
USD / CAD - Higher as Markets Await US PMI Release
USD / JPY - Yen continues Pressure Greenback

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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USD/JPY – BOJ Kuroda Unfazed By Low Capital Spending

USD/JPY – BOJ Kuroda Unfazed By Low Capital Spending

Time Table

the rally in USD / JPY hit a snag earlier this week, as prices traded lower after reaching Top channel during the first hours of trading this morning. The bearish decline was fueled by lower than expected capital expenditure figures released in Tokyo 8:50 (1.5% Actual vs. 3.6% expected), suggesting that the Japanese economy is still relatively soft - companies do not invest for the long term, despite all the supposed confidence arising from abenomics initiatives of Prime Minister Abe. This reduced efficacy abenomics push USD / JPY lower as traders and speculators began to doubt if abenomics will be able to artificially weaken the yen further.

However, this is not a popular opinion, as we have seen trading USD / JPY slowly but steadily in 2H 2013 despite the success of abenomics questioned all this time. It seems that most traders believe in fact that the Bank of Japan Shinzo Abe will simply introduce more stimulus to achieve what they want, and who continue to maintain and USD / JPY continued to move forward.

From a technical perspective, prices may find support Bottom Channel. Stochastic readings can be directed downwards in a down cycle, but Stoch curve may likewise find support around 30-40.0 levels (where previous low was seen). Therefore, it would not be surprising if we see both Stoch and the price bounce back from here and open the way for a push towards Canal Top again.

Weekly Chart

most concern is the long-term upside potential for USD / JPY. Prices are currently trading around the ceiling of 2013 from 102.5 to 103.75 with stochastics indicator suggesting that the bullish momentum may peak soon. Since much of the current rally was driven by hopes for further BOJ stimulus in December, there is a huge downside risk lurking around should BOJ disappoints. In this regard, today's response is interesting Kuroda - BOJ Governor said he expects gradual increase in capital expenditures Japan meet the weaker than expected figures published earlier. We could be on reading, but the tone suggests that BOJ may actually be comfortable with the current pace of economic recovery (although the figures are lower than what the market expected). This would imply that a better stimulus package than expected in December may be less likely - increasing the risk of loss of USD / JPY also

Links :.
AUD / USD - 0.91 Finds solid support
EUR / USD - Installs around 1.36
GBP / USD - Almost two-year high around 1.6430

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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USD/JPY – BOJ Kuroda Unfazed By Low Capital Spending

USD/JPY – BOJ Kuroda Unfazed By Low Capital Spending

Time Table

the rally in USD / JPY hit a snag earlier this week, as prices traded lower after reaching Top channel during the first hours of trading this morning. The bearish decline was fueled by lower than expected capital expenditure figures released in Tokyo 8:50 (1.5% Actual vs. 3.6% expected), suggesting that the Japanese economy is still relatively soft - companies do not invest for the long term, despite all the supposed confidence arising from abenomics initiatives of Prime Minister Abe. This reduced efficacy abenomics push USD / JPY lower as traders and speculators began to doubt if abenomics will be able to artificially weaken the yen further.

However, this is not a popular opinion, as we have seen trading USD / JPY slowly but steadily in 2H 2013 despite the success of abenomics questioned all this time. It seems that most traders believe in fact that the Bank of Japan Shinzo Abe will simply introduce more stimulus to achieve what they want, and who continue to maintain and USD / JPY continued to move forward.

From a technical perspective, prices may find support Bottom Channel. Stochastic readings can be directed downwards in a down cycle, but Stoch curve may likewise find support around 30-40.0 levels (where previous low was seen). Therefore, it would not be surprising if we see both Stoch and the price bounce back from here and open the way for a push towards Canal Top again.

Weekly Chart

most concern is the long-term upside potential for USD / JPY. Prices are currently trading around the ceiling of 2013 from 102.5 to 103.75 with stochastics indicator suggesting that the bullish momentum may peak soon. Since much of the current rally was driven by hopes for further BOJ stimulus in December, there is a huge downside risk lurking around should BOJ disappoints. In this regard, today's response is interesting Kuroda - BOJ Governor said he expects gradual increase in capital expenditures Japan meet the weaker than expected figures published earlier. We could be on reading, but the tone suggests that BOJ may actually be comfortable with the current pace of economic recovery (although the figures are lower than what the market expected). This would imply that a better stimulus package than expected in December may be less likely - increasing the risk of loss of USD / JPY also

Links :.
AUD / USD - 0.91 Finds solid support
EUR / USD - Installs around 1.36
GBP / USD - Almost two-year high around 1.6430

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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AUD/USD Technicals – Mild Support Seen Versus Strong Bearish Backdrop

AUD/USD Technicals – Mild Support Seen Versus Strong Bearish Backdrop

Time Table

Australian Dollar follows the trend of all major currencies that find themselves losing ground against a marauding USD on the day of boxing. However, the rest of its counterparts, the decline in the AUD / USD is the strongest, highlighting the immense downward pressure that AUD is currently underway. Prices have fallen from a high of 0.8928 to a low of 0.8884 during the first 5 hours since the free market, without any significant bullish response and heads for the flexible support line just above 0.888. Despite the strong downward pressure at the moment, the possibility of a small rebound from the support mentioned above remains with Stochasic currently oversold readings with lines Stoch / Signal converging -. Involving a possible bottoming of the curve Stoch

should support the level indeed hold to the obvious short-term upside target would be the previous flexible support turned resistance at 0.808, but given the strong downtrend in time, traders should not be surprised if prices fail to break 0.89 round number and push the lower back, once more.

Weekly Chart

weekly chart is very bearish, and we could see a bearish continuation should support is 0.89 broken. Unfortunately, even if we trade just under 0.89 right now, this is not enough to see that the 0.89 support is broken FX as support / resistance lines tend to be "bands" rather than a singular line. Therefore, more confirmation is needed especially as Stochastic readings are already in the oversold area which favors are bullish push towards 0.93.

As for short-term chart analysis, it should be noted that it is quite possible that the price may not even be able to violate 0.91 round number given the bearish bias extreme is at stake right now. In addition, the fundamentals continue to support a weaker AUD move forward after the rate cut by the RBA outlook compared with a strong narrative USD in 2014 due to the sharp Fed. Therefore, do not be surprised if a rebound off 0.89 support fail to produce a significant upward push and may instead result in a stronger bearish response in the future that the bears certainly find higher prices a bargain sell into.

Links:
GBP / USD - Pound disdain Sharp US data
USD / CAD - Loonie Holds Firm Despite Sharp numbers US
USD / JPY - Steady Ahead of key figures of the United States

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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AUD/USD – 0.89 Key For Both S/T and L/T Direction

AUD/USD – 0.89 Key For Both S/T and L/T Direction
Direction

AUD / USD rebounded strongly after a stronger than expected inflation. Q4 CPI rose 0.8% Q / Q versus a consensus estimate of analysts of 0.5%. This made traders believe that the Reserve Bank of Australia will have to shelf out of the immediate plans of rate cuts to prevent inflation from getting out of hand. Consequently, AUD / USD pushed above 0.886 almost immediately after the news, and has remained fairly stable for the rest of the Asian session. Prices continued rally again during the European session, suggesting that rising prices are not a reflex response and we should not be expecting any immediate withdrawal anytime soon.

Nevertheless, it should be noted that the degree of bullishness is surprising. First, AUD / USD rarely move wildly after announcement of the CPI, and the answer today is one of the largest we've seen in the last two years. In addition, the inflation rate is not very high compared to the previous quarter of 1.2%. Even the degree of surprise is lower than the expectations of the previous quarter was a mere 0.8%. Therefore, it is curious that the upward reaction caused is so great when it actually pales in comparison with the data just before.

Time Table

A plausible explanation for this may be that traders who are / short desire AUD / USD already the saturation point, and the short-squeeze allowed a bullish response to be much exaggerated. Therefore, the long-term trend of the bear that is in line with the weakness of Australian fundamentals still should remain, but the possibility to push current upward to continue is still open, especially as prices have managed to erase Top Channel. If the price managed to push above 0.89 round number, we might even see the bulls potentially hit as high as 0.8925. If 0.89 is not broken, it is unlikely that the momentum provided by a combination of new on the reaction and short squeeze can keep prices afloat for long. Therefore, it is a make or break situation for AUD / USD, clear or 0.89 we can see prices start to fall back towards 0.88 now support and low ceiling possibly channel in the short term. Stochastic is in agreement with the curve Stoch already heavily overbought, hence the decline, the scenarios will also be favored.

Table Daily

daily chart is actually much more optimistic for the bulls, with the potential to hit 0.0 if the new signal of bullish cycle stoch proves to be correct. However, even this will require a similar rupture resistance of 0.89 round number before continuing the bullish targets can be considered. Therefore, we are back to the same short-term problem; failure to break 0.89 will result in potentially bearish rapid retaliation that the Evening Star pattern seen on January 13 will remain intact, pushing prices 0.877 Top Channel and long term

Links :.
GBP / USD - Breaks through resistance at 1.6450
AUD / USD - Surges to a week high near 0.8870
EUR / USD - Crawls back above key 1.3550 level

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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AUD/USD Technicals – Trading Higher But Bullish Impetus Weak

AUD/USD Technicals – Trading Higher But Bullish Impetus Weak

Australian dollar traded higher this morning, in line with most major currency pairs on the continuing bullish momentum that started last 13 February the total funding of record published by the People's Bank of China over the weekend also helped fueled risk appetite, driving risk correlated currencies like AUD higher, in line with a broad improvement in Asian stocks. However, it should be mentioned that the rally in the AUD / USD is the strongest, with the currency pair lost in EUR / USD and GBP / USD just by a glance. This is interesting because Australia's economy is much more dependent on China than either Eurozone or the UK, and in the last 5 years, AUD / USD has benefited from a stronger correlation with the risk appetite compared to EUR / USD and GBP / USD, so the less spectacular rally seen, we can say that the current bullish sentiment AUD / USD is not as strong as we think.

timetable

However, this does not mean that AUD / USD will move lower here, the momentum is definitely now. In fact, add compliance gave Aussie bulls as prices have managed to ignore the decline after a weaker than expected employment change was announced last Thursday. This can actually explain why the rally in AUD / USD today was less dramatic, since operators can not be convinced that AUD / USD will be able to maintain long-term gains and thus more reluctant to enter.

This implies that S / T bullish momentum may be impaired, and there is less chance to break the 0,07 resistance. The probability of a bearish downturn becomes higher as well, because prices are likely to move sharply lower expected risk appetite disappears. That said, short of eager traders may want to wait for further confirmation, as the break of 0.05 support and / or the channel floor mounted in conjunction with Stoch curve below moving 62.5 "Consolidation floor" . This is important because a broad sentiment remains bullish for now and keep AUD / USD lifted.

Table Daily

Table also encourages daily bearish sell-off that stochastic readings are very overbought, favoring a bearish reversal move forward. However, confirmation is still needed because even curve Stoch remains bullish for now, so patience is certainly . advisable as there are still any chance that prices may violate 0.07 and hit 0.916 resistance before retreating

links:
EUR / USD Technical - trading above 1, 37 on S / T upward pressure
week in FX Asia - Chinese Fortunes Tough to Pin Down
week in FX Americas - Look beyond the Clouds storm

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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AUD/USD Technicals – 0.0 Key Support Holding For now

AUD/USD Technicals – 0.0 Key Support Holding For now

AUD / USD had a busy day yesterday. Prices rallied and broke 0.0 round number following a prodigious job change helped by bullish spillover pressure from the RBNZ rate hike. However, much of the gains were given by the end of the US session as prices pushed lower in line with other risk assets correlated following the decline in US stocks.

Time Table

price enjoyed a temporary respite when the sell-off rebounds from 0.02 level support, but with a risk of pressure off running in the Asian markets today, 0.02 was finally broken. Currently the price is testing 0.0 round number which is also close to levels before the release of employment figures Change. If 0.0 is broken, the increase "feel good" feeling of yesterday can be considered fully disabled and we could see a further bearish acceleration towards this low swing week.

From a technical standpoint, the Stochastic indicator favors a rebound from 0.0 to 0.02 in the short term with the flat tapered Stoch curve and can begin to reverse more, crossing the signal line in the process . However, bullishness is still suspect as we have just seen a failed long-term bull cycle signal accompanying the 0.02 rebound. Nevertheless, it is not catastrophic, as the bullish sentiment yesterday is strong indeed. Prices have succeeded in slowing 0.07 resistance during the opening hours of the US when stocks were in fact initially bullish. This shows that there is still hope and expected broad risk sentiment recovers, we should not be surprised if AUD / USD recovers strongly.

Table Daily

watching daily chart, the bulls need to feel more assured that the trendline rising should provide support should price fall further, and 0895 will be asked to do the job if the rising trend line fails. Therefore, the probability of net sales by low and should prices continue to stay afloat in the coming days, the bullish rally that started from late January remain intact and provide a great launchpad for the price to rally higher when risk appetite returns. That said, the price will delete 0.07 convincing to invalidate the bearish trend in the long term and the long stay prices in the current consolidation area, more downside risk becomes

.: Links
USD / JPY - Yen Up As manafacturing Impresses Japanese data
GBP / USD - Pound Recovers and Flirts with 1.67
EUR / USD Technical - S / T bullish narrative hinges on 1,385 support

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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AUD/USD Technicals – Slight Bullish Rebound Possible In S/T But Outlook Bearish

AUD/USD Technicals – Slight Bullish Rebound Possible In S/T But Outlook Bearish

AUD / USD pushed lower this morning, led by lower than expected sales Australian retail that grew 0.2% versus an expected 0.3%. China's economic data compounded the misery, with a non-manufacturing employee arrives to 54.5 vs. 55.0 prior. The survey carried out by private HSBC / Markit actually increased from 51 to 51.9, but which provided comfort like index compiled Composite PMI came in at 49.3, suggesting a much faster rate of decline in the overall Chinese economy vs. the previous month to 49.8 (50 is the nominal value). Similarly, the Trade Balance figures are much stronger than expected, but the figures of February is still less than 1.4 billion AUD in January, and as such it is not surprising that few bullish impact from thereof.

hourly chart

There is perhaps a little luck that the retail disappointment was announced when the price tested the down corner and the confluence with the 0.9255 resistance level. However, as the price managed to erase 0.922 relatively easy support, it is clear that the downward momentum is strong. As such, although the stochastic readings are currently in the oversold region, it is still possible that prices continue riding lower corner to push further down instead of bouncing from here. Nevertheless, the possibility of a temporary withdrawal bullish short term remains in the cards, but a significant push toward upper unlikely if 0.922 support turned resistance waiting.

Table Daily

Daily chart is bearish with 0,914 as immediate bearish target. Based on the current downtrend pace, it is likely that we can hit the point of intersection between 0.914 and the rising trend line. Therefore, if 0914 is broken, the bullish momentum is strongly altered and we may potentially see acceleration towards 0.888 support.

Basically, the case of an Australian economy improvement has been altered by failed Retail sale today. There is also talk of increasing the sales tax in Australia to collect more tax revenue for the government to balance the books that will be a short-term negative impact. If next week of employment data and consumer confidence data disappoint, the account recovery must be discarded and the fundamental outlook for AUD will be bearish. Couple that possibility with USD should strengthen again, the outlook for AUD / USD will strongly bearish

Links:
WTI Crude - Bulls Seen Around 99.5 Keeping Afloat Price
S & P 500 - first signs of break, but 1,80 Still holding for Now
USD / CAD - Steady After strong ADP employment numbers

This is for the general for information only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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Read More : AUD/USD Technicals – Slight Bullish Rebound Possible In S/T But Outlook Bearish

EURUSD – 50 DMA Holds on First Break Attempt

EURUSD – 50 DMA Holds on First Break Attempt

The euro continued to rally against the dollar this morning after breaking above the downhill yesterday, taking recent summits Friday early in the session before running into trouble around the simple moving average 50 days.

This was always going to be a difficult obstacle, with the pair having traded below here for almost a year and failed in his attempts to break into two or three occasions

The fact that it fell on a round figure -. 1.09 - was never going to help either that these levels tend to carry some psychological importance. Especially if we saw support and resistance around them before, we repeatedly.

But I'm not convinced we've seen the last assault on the 50 day SMA. As you can see in the graph below 30 minutes, the correction of the failed rupture led to the formation of a possible double bottom.

Of course, the neckline will need to be broken before it is finished, but if it happens, he suggests - based on the size of the training -. we could see a move to 109.50, a significant break of the 50 day SMA

If this happens, it could open a move back toward the high end and would mean the two conditions mentioned Wednesday (EURUSD - Pause Lower increasingly likely) have been met that would make me Brace for greater correction to the upside. The only thing left now is for the pair to break above the trading range lasted a month through 1.1050.

* The above information can be found in the Forex Labs section of the website.

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EURUSD – Consolidation Continues, Next Move Key

EURUSD – Consolidation Continues, Next Move Key

EURUSD is trading at a great level right now, having rallied since mid-March to a level that traders are clearly undecided.

The pair reached 1.1466 on March 15 before correcting and the two rallies that have taken place since we have failed to see this broken level. In fact, it does not really come close and the inability to break above the downward trend line - 14 July peaks -. And 144-day simple moving average in this time suggests the pair continues to follow the downward trend in the longer term

That said, it does not seem to be too bearish appetite while quite yet. The recesses are yet purchased and lower long pile last two candles even suggests still occurs.

The key levels are 1.1380 for me to rise and the decline from 1.1050 to 1.11. At 1.1380, the 144-DMA and descendant trend line continues to ensure the resistance of the pair having already done several times.

The pair has found support around 1.1050 to 1.11 last Friday and was a key area several times this year. The lower end of this trademark also the neckline of the double top that formed since the June 2

One advantage of the double tops is their use in the provision of possible price projections depending on the size of them. With this in mind, a break of the neckline could cause a movement back towards 1.0712. Note that 1.0819 could be a strong level of support along the way being the biggest down side.

The pair may continue to be exchanged between these support and resistance levels for a little longer, but once one of them is broken, I think it could offer insight into whether traders are actually bullish on this pair, and the upward trend of the dollar will resume. I still believe that we could see parity by the end of the year, but a break above this trend line would make me much less confident.

Given the time of this picture, it is also helpful to consider the fundamental of the two currencies. The biggest currency disc is very often inflation and interest rates, and I do not think it's different.

As you can see from the chart below, all this uncertainty surrounding Greece has not been weighed on the pair of all, the price was mainly driven by the narrowing spread US Treasury -Bund. With the Federal Reserve may increase as early as September inflation rate and the euro area is expected to remain weak, I think it starts to widen again soon.

red and green candles are EURUSD price action. yellow line is the spread of the US Treasury-Bund

Source -. Eikon

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Read More : EURUSD – Consolidation Continues, Next Move Key

EURUSD – Consolidation Continues, Next Move Key

EURUSD – Consolidation Continues, Next Move Key

EURUSD is trading at a great level right now, having rallied since mid-March to a level that traders are clearly undecided.

The pair reached 1.1466 on March 15 before correcting and the two rallies that have taken place since we have failed to see this broken level. In fact, it does not really come close and the inability to break above the downward trend line - 14 July peaks -. And 144-day simple moving average in this time suggests the pair continues to follow the downward trend in the longer term

That said, it does not seem to be too bearish appetite while quite yet. The recesses are yet purchased and lower long pile last two candles even suggests still occurs.

The key levels are 1.1380 for me to rise and the decline from 1.1050 to 1.11. At 1.1380, the 144-DMA and descendant trend line continues to ensure the resistance of the pair having already done several times.

The pair has found support around 1.1050 to 1.11 last Friday and was a key area several times this year. The lower end of this trademark also the neckline of the double top that formed since the June 2

One advantage of the double tops is their use in the provision of possible price projections depending on the size of them. With this in mind, a break of the neckline could cause a movement back towards 1.0712. Note that 1.0819 could be a strong level of support along the way being the biggest down side.

The pair may continue to be exchanged between these support and resistance levels for a little longer, but once one of them is broken, I think it could offer insight into whether traders are actually bullish on this pair, and the upward trend of the dollar will resume. I still believe that we could see parity by the end of the year, but a break above this trend line would make me much less confident.

Given the time of this picture, it is also helpful to consider the fundamental of the two currencies. The biggest currency disc is very often inflation and interest rates, and I do not think it's different.

As you can see from the chart below, all this uncertainty surrounding Greece has not been weighed on the pair of all, the price was mainly driven by the narrowing spread US Treasury -Bund. With the Federal Reserve may increase as early as September inflation rate and the euro area is expected to remain weak, I think it starts to widen again soon.

red and green candles are EURUSD price action. yellow line is the spread of the US Treasury-Bund

Source -. Eikon

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AUD/USD – Finds Much Needed Support from 0.75

AUD/USD – Finds Much Needed Support from 0.75

AUD / USD - Tuesday, July 7, 2015

The Australian dollar hasn 't had his best week down sharply above the key 0.77 level to a new six-year low below 0.75. The AUD / USD currently trades around 0.75 where it found some support needed. Some time last week the AUD / USD tested the key support level at 0.76 and enjoyed a solid support before it failed. Throughout last week, the Australian dollar began to feel some selling pressure from the level of 0.77, and his eyes were firmly focused on the long term support level at 0.76. There are a few weeks, the AUD / USD fell sharply lower below 0.77 but found strong support for long-term support level at 0.76. This level has provided strong support throughout most of this year, so it is quite significant that it was strongly broken.

there

A few weeks ago, he made a greater leap of below 0.77 until the last three weeks, but he ran straight into the key 0.7850 resistance level, which played this role more time this year. All this time, he also spent most of his time fairly stable operations around the 0.7750 level while enjoying a strong support 0.77. In the last month, the 0.7850 resistance level has played a major role and continues to exert downward pressure on selling the AUD / USD. During this same period, it benefited from rock solid support from the level of support in the long term to 0.76 that allowed him to bounce back strongly to more than 0.78 to more than one occasion.

Throughout the second half of May, the Australian dollar fall sharply to a four months above 0.8150 to the level of key support at 0.76. This level was a significant level for a couple of months and has supported the Australian dollar on multiple occasions. This recent price action has been a significant reversal, because there is not so long, the AUD / USD has been in a long-term trend solid medium to having broken through the 0.7850 key level and reached four months of high above 0.8150. For most of this year, the Australian dollar has traded in a wide trading range between support at 0.76 and resistance around 0.7850. Earlier this year in February this range was narrower with the highest level of support 0.77. Throughout this period he has had reasonable swings back and forth between the two key levels with very few excursions beyond the levels.

(daily chart / 4 hourly chart below)

AUD / USD July 6 at 23:40 UTC 0.7493 H: 0, 7501 L: 0.7492

AUD / USD technical

S3	S2	S1	R1	R2	R3
0.7500	-	-	0.7850	0.8150	-

During the first hours of the Asian session on Tuesday, the dollar Australian attempts to stay above the 0.75 level after having fallen sharply to a low of six years below 0.75. Current range :. right trading around 0.75

Other levels in both directions

• The following :. 0.7500

• Above :. 0.7850 and 0.8150

Open Ratios position OANDA

(shows the ratio of long short positions vs held AUD / USD between all OANDA clients. the left percentage (blue) shows long positions, the percentage right (orange) shows short positions)

the long position report AUD / USD fell to 60% the AUD / USD found some support for the 0.75. level. The trader sentiment is in favor of long positions.

Economic Releases

• 11:50 p.m. (Monday) JP Data Bank Lending (June)
• 11:50 p.m. (Monday) JP current account ( May)
• AU RBA 4:30 - Nightly rate
• UK Industrial Manufacturing 8:30 & production (May)
• 24:30 CA merchandise trade (May)
• 12:30 trade balance US (May)
• 2:00 p.m. UK NIESR GDP Est. (June)
• 14:00 optimism of US consumers IBD (July)
• 7:00 p.m. consumer credit of the United States (May)

* All times are GMT release of

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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GBPUSD – Bearish Reversal on Poor Retail Sales

GBPUSD – Bearish Reversal on Poor Retail Sales

As pointed out yesterday (GBPUSD - Possible Morning Star on key support), the cable is starting to look more optimistic again after a week or so of consolidation and despite threatening not sometimes the morning star formation has been completed.

This was followed by a brilliant start to the trading session today, with the pair rallying to the heights of 15 and 17 July and looking like threatening a break above.

With UK retail sales data was released this morning, it was not surprising to see the pair consolidate ahead of the number and even then it has formed a flag, a continuation bullish pattern.

Unfortunately, the number was worse than expected and given the importance that the consumer is to the UK economy and the maintenance expenses of the inflation outlook, it was not surprising lead book on the number.

It must be remembered that the book has performed well recently that the Bank of England has suddenly become much more hawkish with Governor Mark Carney recently suggesting that an increase could come by the end of this year. This is well before the middle of next year, which had been previously suggested. Obviously, anything that threatens to push it back again is bearish for the pound.

From a technical perspective, the picture is looking much more bearish now and if the pair ends the day below the opening yesterday, it will create a model bearish engulfing on the daily chart.

At present, the pair is finding support around 1.55, a record level of support and resistance and 50% retracement of the move down from July 8 to 15 highs in July. If it is broken, further support could be found around 1.5450 to 1.5460 - 14 July and down 61.8 fib level - although given the movement today, this may not be as strong that support as it would without it

[

If it is broken, it will be interesting to see how the pair reacts to the 89 simple moving average days for a some time now has been a key indicator of bullish and bearish bias.

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EURUSD – Strong Rebound Suggests False Breakout

EURUSD – Strong Rebound Suggests False Breakout

Last week I stressed from 1.1375 to 1.1525 as a level of mass resistance of the euro against the dollar, indicating that a break above here would be very optimistic.

This was before the markets have experienced tremendous volatility levels Monday that strongly worked in favor euros, apparently due to the unwinding of carry trades. Whatever the reason, the euro rallied through this area of ​​resistance with relative ease.

But it doesn, AOT means that this level is essential, it does not mean the pair is particularly optimistic, yet. As seen we, AOVE market today, it isn, AOT that we can read in moves at the beginning of the week, except that they are prone to fear-driven panic that creates exceptional levels of volatility and a flight to Security.

From a technical standpoint, however, we should learn how bearish this pair is really in the next 24 hours or more.

Today we Aore see the pair reversed much of the gains made on Monday and it AOS closing now back in the 1.14, around its opening on Monday.

If it closes below Monday, open SOA, it is strongly the view that yesterday AOS movement reflects the panic rather than the significant change of bias that a break would have under normal conditions market.

It would also create a bearish engulfing pattern on the daily chart which is a fairly bearish configuration under normal circumstances. Given the size of yesterday, AOS rally, I think it is even more so.

If, on the other hand, rallies in euro in the end of the session and we see a close above 1.1525, the upper end of the resistance range, it suggests just yesterday provided through triggering and the market is actually upward, even at these levels.

Close between 1.14 and 1.1525 would represent indecision and the price action over the next two days should provide, hopefully more clarity.

The tools above and others can be found in OANDA Forex Labs

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GBPUSD – Bearish Case Builds as Reversal Forms

GBPUSD – Bearish Case Builds as Reversal Forms

Yesterday, I suggest that, after running into resistance around 1.55, an inverting configuration can form in the cable on the 4 hour chart, which could point to a consolidation, correction or reversal of the pair (GBPUSD - bearish Setup potential Resistance).

Not only that the star formation of the full evening, the pair has since sold and a bearish pattern might now forming on the daily chart which could point to advance back losses.

finished candle of

Yesterday was a shooting star, a bearish reversal candle, especially when found in a known resistance level. On this occasion, they are previous highs and 89-day simple moving average, which provided support and resistance several times this year.

That the pair manages to trade above the high of the shooting star, the next day can often provide insight into whether we are witnessing a reversal or not . On this occasion, the pair initially rallied today but failed to make new highs, suggesting that we are. Since then, the pair has been on the decline.

Now we have a situation where we could see a star formation in the evening on the daily chart, which would still suggest that more losses are coming. For this, a close below 1.5350 should occur -. Two-thirds of the way into the candle on Friday

This seems very possible at this stage, since, on the 4 hour chart we see. no loss of low momentum is the MACD and stochastic

Here below, the pair may find support around 1.5270 from the rising trend line - October 1 low - and 1.5250 on 28 and 28th October low. A break of these suggest that we will see a return to the lower end of the trading range of 6 months from the pair around 1.5080 to 1.5170.

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Jeffrey Halley

Jeffrey Halley

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EURUSD – Double Bottom Forming on Key Support

EURUSD – Double Bottom Forming on Key Support

The euro has performed very well since the beginning of the year, greatly benefiting from market aversion to risk triggered an unwinding of the carry trade that we often see in a "risk on" environment.

the single currency has performed very well against the US dollar, rallying as high as 1.1375 last week before falling back below 1.11 as risk appetite crept back into markets.

the pair was always likely to find some support between 1.1050 and 1.11, with it having been a key area on a number of occasions during the last year as well, and early signs suggest it did just that. Moreover, the simple moving averages 21 and 0 days combine around 1.1060 to provide additional support.

The pair traded in this region, Thursday and Friday of this week, and each time was met with strong buying pressure. The result is the formation of a kind of tweezer bottom on the daily chart, but with slightly different downs.

If we take a shot closer eye on this 4 hours or 1 hour charts, we can see whether a possible double bottom with neckline around 1.1140 and down to 1.1065 .

Should we see a break through the neckline, it could cause a move towards 1.1215, based on the size of the double bottom projected above the neck. This represents about a 50% retracement of the move from the highs of last week to the lowest this week and would be an interesting test for the pair.

A move above here would indicate that we will see a return to the 1.1375 high, or above, with 1.1450 to 1.15 as the above key here.

For further analysis of the EURUSD, see FX Charting video analysis Monday.

As you can see below, the OANDA clients are increasingly bullish on this pair and there are a large number of pending orders between 1.1050 and 1.11, which just goes to show how the key of an area it is.

To access these tools and others, visit OANDA Forex Labs.

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Jeffrey Halley

Jeffrey Halley

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GBP/USD – Relying on Support at 1.5950 Level

GBP/USD – Relying on Support at 1.5950 Level

GBP / USD for Friday, October 11, 2013

In last month, the GBP / USD has rallied and surged sharply higher to go through many levels that was punctuated by a push to its highest level for the year just above 1.6250. For the last week but it was easing back to 1.60 and 1.5950 with the latter recently broken level in the last day or two. In the last 24 hours, it rallied above 1.5950 receiving support at this level. A few weeks ago, he found strong support from the 1.5950 level which helped to move at the level of 1.6250, and it relies on that level again now. There stall around 1.59 to 1.5950 for a few days there a few weeks before clearing the congestion zone. There are about a month, it fell to two weeks low near 1.54 before rallying back to 1.5550. The week before he did well to maintain its level above the 1.56 key level and in the process of moving to a new two-month above 1.57, which was overtaken by the recent summit. She immediately fell sharply, but continued to receive strong support from the level of 1.56 before closing below at the end of this week.

Back in the middle of August the pound jumped higher level through the 1.56 resistance and then a two-month high around 1.5650, before passing the next few days to consolidate and trade in a range close around 1.5650, receiving the support of the key 1.56 level. There are some months, the 1.54 resistance level proves to be strong enough, and once he crossed the pound surged to a fresh seven weeks high near 1.56 in a solid 48 hours period term. In the week before that the book had rebounded strongly and returned at the previous resistance at 1.54 after the week earlier undo some of his good work and strong apostasy of the 1.54 resistance level down to about 1.5150 and low two weeks. There are a few weeks, the level of 1.54 resistance was firm and the pound fell heavily away, but the support level of 1.51 was decisive and strongly contributed to the rally of the pound.

Earlier in July, after doing very little for about a week, the GBP / USD began to move and jump higher and move through the levels of 1.52 and 1.53 to the one-month high above 1.54. Before the movement above, it moved very little because it has found strong support at 1.51 and traded in a narrow range above that level. He established a trading range between 1.51 and 1.52 after taking a break from his excitement when just before she experienced strong higher thrust moving to the scope of the 1.52 level below 1.49, the while 24 hours. There are about a month, he did well to climb off the canvas and move above 1.49 and towards 1.50 before seeing again the book and reverse back down below 1.49 to a new multi-year low near 1.48. He experienced heavy falls of 1.53 mobile to level long-term key to 1.50, then 1.49. This movement has seen resume its bearish medium-term trend already well established in the second half of June and the move to a four-month low.

The International Monetary Fund urged George Osborne to boost spending on infrastructure in Britain, despite the upward revision of its growth forecast for the UK more than any other developed country. In a generally pessimistic assessment of the state of the global economy, the Fund based in Washington said it now expects the pace of expansion to be significantly higher than it was three months. But it triggered a new dispute between Osborne and his Labour shadow Ed Balls to whether the government's austerity program had helped or hindered the recovery of the deepest recession in Britain's post-war. half yearly global economic outlook Fund cut its forecast for global growth in 2013 and 2014, accusing the impact of clumsy attempts to reduce the budget deficit in the US and a slowdown in major emerging market economies. But he said the UK had bucked the trend, the revision of its estimates of growth by 0.5 point to 1.4% in 2013 and by 0.4 points to 1.9% in 2014. The IMF has embarrassed the chancellor in his WEO in April this year, when he called on the UK to ease up on its austerity plans to enhance recovery prospects. Although THECITY forecasts growth of about 1% in the third quarter, the Fund renewed its call for higher public spending.

(daily chart / 4 hourly chart below)

GBP / 11 USD October at 00:45 GMT H 1.5970: 1.5979 L : 1.5913

GBP / technical USD

S3	S2	S1	R1	R2	R3
1.5950	1.5800	-	1.6100	1.6250	-

During the first hours of the Asian session on Friday, GBP / USD is consolidating in a narrow range just below 1.60 after rallying back above the support level at 1.5950. Since the middle of June the pound has fallen sharply from the level of resistance at 1.57 down to the long-term key level at 1.50 and is now enjoying a strong resurgence in the last two months return movement of above 1.62 and its highest point for the year. Current range: Just below 1.60 around 1.5980

Other levels in both directions :.

• The following :. 1.5950 and 1.5800

• Above :. 1.6100 and 1.6250

Open Ratios position OANDA

(shows the ratio of long short positions vs outfit for the GBP / USD. between all OANDA clients left percentage (blue) shows long positions, the percentage right (orange) shows short positions)

report GBP / USD long positions is moved below 30% again the GBP /. USD pushed above 1.5950. Trader sentiment remains largely in favor of short positions.

Economic Releases

• 11:50 p.m. (game) JP M2 money supply (September)
• 11:50 p.m. (game) JP CGPI (September)
• 12:30 CA unemployment (September)

* All times are GMT release of

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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Read More : GBP/USD – Relying on Support at 1.5950 Level

GBP/USD – Relying on Support at 1.5950 Level

GBP/USD – Relying on Support at 1.5950 Level

GBP / USD for Friday, October 11, 2013

In last month, the GBP / USD has rallied and surged sharply higher to go through many levels that was punctuated by a push to its highest level for the year just above 1.6250. For the last week but it was easing back to 1.60 and 1.5950 with the latter recently broken level in the last day or two. In the last 24 hours, it rallied above 1.5950 receiving support at this level. A few weeks ago, he found strong support from the 1.5950 level which helped to move at the level of 1.6250, and it relies on that level again now. There stall around 1.59 to 1.5950 for a few days there a few weeks before clearing the congestion zone. There are about a month, it fell to two weeks low near 1.54 before rallying back to 1.5550. The week before he did well to maintain its level above the 1.56 key level and in the process of moving to a new two-month above 1.57, which was overtaken by the recent summit. She immediately fell sharply, but continued to receive strong support from the level of 1.56 before closing below at the end of this week.

Back in the middle of August the pound jumped higher level through the 1.56 resistance and then a two-month high around 1.5650, before passing the next few days to consolidate and trade in a range close around 1.5650, receiving the support of the key 1.56 level. There are some months, the 1.54 resistance level proves to be strong enough, and once he crossed the pound surged to a fresh seven weeks high near 1.56 in a solid 48 hours period term. In the week before that the book had rebounded strongly and returned at the previous resistance at 1.54 after the week earlier undo some of his good work and strong apostasy of the 1.54 resistance level down to about 1.5150 and low two weeks. There are a few weeks, the level of 1.54 resistance was firm and the pound fell heavily away, but the support level of 1.51 was decisive and strongly contributed to the rally of the pound.

Earlier in July, after doing very little for about a week, the GBP / USD began to move and jump higher and move through the levels of 1.52 and 1.53 to the one-month high above 1.54. Before the movement above, it moved very little because it has found strong support at 1.51 and traded in a narrow range above that level. He established a trading range between 1.51 and 1.52 after taking a break from his excitement when just before she experienced strong higher thrust moving to the scope of the 1.52 level below 1.49, the while 24 hours. There are about a month, he did well to climb off the canvas and move above 1.49 and towards 1.50 before seeing again the book and reverse back down below 1.49 to a new multi-year low near 1.48. He experienced heavy falls of 1.53 mobile to level long-term key to 1.50, then 1.49. This movement has seen resume its bearish medium-term trend already well established in the second half of June and the move to a four-month low.

The International Monetary Fund urged George Osborne to boost spending on infrastructure in Britain, despite the upward revision of its growth forecast for the UK more than any other developed country. In a generally pessimistic assessment of the state of the global economy, the Fund based in Washington said it now expects the pace of expansion to be significantly higher than it was three months. But it triggered a new dispute between Osborne and his Labour shadow Ed Balls to whether the government's austerity program had helped or hindered the recovery of the deepest recession in Britain's post-war. half yearly global economic outlook Fund cut its forecast for global growth in 2013 and 2014, accusing the impact of clumsy attempts to reduce the budget deficit in the US and a slowdown in major emerging market economies. But he said the UK had bucked the trend, the revision of its estimates of growth by 0.5 point to 1.4% in 2013 and by 0.4 points to 1.9% in 2014. The IMF has embarrassed the chancellor in his WEO in April this year, when he called on the UK to ease up on its austerity plans to enhance recovery prospects. Although THECITY forecasts growth of about 1% in the third quarter, the Fund renewed its call for higher public spending.

(daily chart / 4 hourly chart below)

GBP / 11 USD October at 00:45 GMT H 1.5970: 1.5979 L : 1.5913

GBP / technical USD

S3	S2	S1	R1	R2	R3
1.5950	1.5800	-	1.6100	1.6250	-

During the first hours of the Asian session on Friday, GBP / USD is consolidating in a narrow range just below 1.60 after rallying back above the support level at 1.5950. Since the middle of June the pound has fallen sharply from the level of resistance at 1.57 down to the long-term key level at 1.50 and is now enjoying a strong resurgence in the last two months return movement of above 1.62 and its highest point for the year. Current range: Just below 1.60 around 1.5980

Other levels in both directions :.

• The following :. 1.5950 and 1.5800

• Above :. 1.6100 and 1.6250

Open Ratios position OANDA

(shows the ratio of long short positions vs outfit for the GBP / USD. between all OANDA clients left percentage (blue) shows long positions, the percentage right (orange) shows short positions)

report GBP / USD long positions is moved below 30% again the GBP /. USD pushed above 1.5950. Trader sentiment remains largely in favor of short positions.

Economic Releases

• 11:50 p.m. (game) JP M2 money supply (September)
• 11:50 p.m. (game) JP CGPI (seven )
• 12:30 CA unemployment (seven)

* All times are GMT release of

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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USD/INR Technicals – Strong Bearish Potential With Rupee Gaining Back Strength

USD/INR Technicals – Strong Bearish Potential With Rupee Gaining Back Strength

Little has changed since new RBI governor Rajan took over, but that did not stop to Indian Rupee assess, with prices currently violating below the up key on the Top channel (see weekly chart below) and will end under if we continue to remain around current levels. The reason for the increase in strength is due to market expectations that Rajan will continue to raise rates in the near future. RBI surprised the market last Friday with an increase in repo rate when everyone expected a lower marginal rate permanent mechanism (MSF) to improve liquidity. In addition, there are reports suggesting that RBI may use consumer price inflation as the main gauge of inflation going forward. This in itself does not mean much, but given the hawkishness of Rajan, seems to be a movement to justify further rate hikes as inflation figures for consumption were constantly in motion while higher the traditional gauge of inflation (using large numbers) are down slightly due to the economic downturn.

This is actually a good thing, as RBI tackles head on inflation monster. However, with market prices higher rates, the economy will further lower reservoir. In response to this, Rajan chose to inject 1.5 Trillion Rupiah in the financial system every day, and promised to participate in open market operations to ensure adequate liquidity. Will it be enough? Nobody really knows right now. Moreover, all these are just paper talk and there is very little action is happening right now. But at least for now, it seems the market is to believe in Rajan and his plan to save both Rupee and the economy.

Time Table

This is clearly via price action where prices have declined to levels last Friday before the curious increase in RBI rate that pushed lower Rupee. The feeling has now returned to that trust and allowing USD / INR to the lower ongoing negotiations, even if USD is actually trading higher, beating all major currencies except CHF. USD should weaken again, we could potentially see even more rapid decline in USD / INR can take us below the (low after announcement FOMC) 61.30.

From a purely technical perspective, prices have pushed out of the descending channel top, coinciding with stochastic readings push higher with an upward cycle signal. However, it is unlikely that prices will be able to violate the RBI rate level consolidation hiking 62.25 readings station will most likely be in the overbought region when this happens.

Weekly Chart

price is also downward through the weekly chart, especially if we start Monday with a bearish gap fast. However, it is likely that we will find support through the consolidation range between 59.0 to 61.25 as it is likely that Stoch levels will most likely hit oversold when this happens. In addition, technical withdrawal should be expected after such a strong and continuous downward trend of 69.0. As the rebound / pullback does not negotiate over the English Channel on the rise, the likelihood of progression to remain Bottom Channel

Links :.
NZD / USD Technical - remain under 0.83
Rhyme And Reason Not A Concern EURO Dollar Gold
or technicals - Higher on concerns the US Budget

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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Read More : USD/INR Technicals – Strong Bearish Potential With Rupee Gaining Back Strength