Daily Market News by Xtreamforex

[xtreamforex]

USD/JPY Forecast – May 11, 2017

The USD/JPY pair had a volatile session on Wednesday, as we bounced off the 113.50 level, and then finally managed to build up enough momentum to break above the 114 handle. It looks as if we are going to continue the uptrend, and that should send us looking for the longer-term target of the 115 handle. That’s an area that has been resistive on the longer-term charts, and I believe that if we can break above there, the market becomes more of a “buy-and-hold” type of proposition. Pullbacks currently should be buying opportunities, and I recognize that the market continues to favor the USD/JPY pair due to the overall “risk on” attitude of traders. The markets continue to find buyers on pullbacks, and I don’t think that’s going to change. I believe that the 115 level is such a large target for traders that it’s almost impossible to ignore.

Buying dips

I continue to think that buying dips on short-term charts will be the way going forward, as we are most certainly in a very bullish trend. If we break down below the 113.50 level, the market could then go looking for the 113 handle, but at that point I would expect a lot of support as well. Either way, I have no interest in shorting this market, and believe that the longer-term buyers have already reentered the market after the lows that we saw several months. If we do somehow break above the 115 handle, the market should then go to the 118 level after that. Going forward, I anticipate that there will be a lot of volatility, but a general positive attitude as the US dollar is favored over a lot of currencies around the world, and the Japanese yen of course will be any different.



https://www.xtreamforex.com/Education/usdjpy-forecast-may-11-2017/

 

[xtreamforex]

US SLAPS NEW ECONOMIC SANCTIONS ON IRAN OVER BALLISTIC MISSILE PROGRAMME

The US imposed new economic sanctions against Iran late-Tuesday over its ballistic missile programme and Tehran’s “malign activities” in the Middle East, Reuters reports
Key Points:

The U.S. government said it was targeting 18 entities and people for supporting what is said was “illicit Iranian actors or transnational criminal activity.”

The State Department said in a statement: “The United States remains deeply concerned about Iran’s malign activities across the Middle East which undermine regional stability, security, and prosperity.”


Read More:https://www.xtreamforex.com/us-slaps-new-economic-sanctions-iran-ballistic-missile-programme

 

[xtreamforex]

AUD/JPY REBOUNDS SHARPLY, TAKES-OUT 88 HANDLE ON RBA MINUTES
The cross in AUD/JPY staged a solid comeback following the release of the RBA’s monetary policy meeting minutes, now driving the rate to test 88 handle.
AUD/JPY cheer RBA minutes
The bulls found fresh bids at the mid-point of 87 handle and from there rallied almost 50-pips after the RBA minutes showed an upbeat assessment of the economy, citing that the steady policy stance remains consistent with growth and inflation targets.
However, it remains to be seen if the cross can take on the recovery well above 88 handle amid persisting risk-aversion, triggered by negative Asian equities and Trumpcare bill debacle, while a drop in China’s new home prices data for June could also keep the gains limited in the cross.

Focus now shifts towards the second-liner economic releases from the US docket for fresh incentives on the US dollar, eventually impacting both the AUD and JPY.

Technical Levels

Higher side: 88.27 (multi-month tops), 88.50 (psychological levels), 88.74 (classic R3)

Lower side: 87.50 (daily low), 87.32 (10-DMA), 86.65 (20-DMA)


Read More:https://www.xtreamforex.com/audjpy-rebounds-sharply-takes-88-handle-rba-minutes/

 

[xtreamforex]

EUR/USD Forecast: uncertainty reigns, but dollar’s gains st
The EUR/USD pair ends the week marginally lower, but still near its highest for the year, a few pips below the 1.1400 threshold. Following an exciting central banks’ week, the American dollar corrected higher at the beginning of the current one, giving back its gains on Thursday, amid ECB’s minutes of the latest meeting confirming that policy makers discussed how to handle tapering. In fact, they actually discussed removing the easing bias from their statement, not actually the when or the how, but the news was enough to boost back the common currency. The greenback recovered some ground on Friday, following a mixed US employment report that stalled short from confirming an upcoming rate hike, as wages’ growth missed expectations. Still the economy added 222,000 new jobs, a sign that the sector remains healthy, but with inflation lagging and with report, seems the current dollar’s recovery has a limited future.

There were a couple of factors that helped the dollar advance this past week: one was really ugly UK data that cooled down expectations of an UK rate hike, quite incompatible with an economic slowdown. Weakness in commodities, and rising yields worldwide also backed dollar’s recovery.

The pair is now at an inflection point, as it remains technically bullish, but unable to surpass a major long-term resistance for a second consecutive week. In the daily chart, the pair seems to be forming a double top, with the neckline around 1.1300, a price zone that contained advances in June, and attracted buyers ever since this month started. In the same chart, the price is well above all of its moving averages, with the 20 DMA a few pips below the mentioned level and far above larger ones, whilst technical indicators have retreated modestly from oversold readings, rather reflecting the ongoing correction that anticipating some further slides.

In the weekly chart, however, the bullish momentum remains strong, with the indicator heading north and near April highs, and the RSI consolidating around 66. Furthermore, the 20 SMA has extended its advance below the current level, and is about to cross above the 100 SMA, this last around 1.1000.

Overall, the risk remains towards the downside, but only beyond that critical resistance, in the 1.1460 region, the pair will gain upward traction next week, with the next relevant resistances being 1.1525 and 1.1615, this last 2016 high. Below 1.1290 on the other hand, the downward corrective movement could extend to 1.1160, with further declines being unlikely amid limited dollar’s demand.
Read More:https://www.xtreamforex.com/eurusd-forecast-uncertainty-reigns-dollars-gains-st/

 

[xtreamforex]

AUD/USD RALLIES NEARLY 1% TO 0.7875, HIGHEST SINCE MAY 2015
The AUD bulls remain unstoppable following the release of hawkish RBA minutes, with the AUD/USD pair now extending the break higher to test 0.77 handle, the strongest levels seen since May 2015
Read More:https://www.xtreamforex.com/audusd-rallies-nearly-1-0-7875-highest-since-may-2015/

 

[xtreamforex]

USD/JPY CLOCKS AN 8-WEEK LOW OF 109.83 AS THE 10-YR US T-YIELD SHED 3BPS
The Dollar-Yen pair hit an 8-week low of 109.83 in Asia as the 10-year US Treasury yield fell more than three basis points [bps] to 2.246%.
The growing tensions in the Korean Peninsula strengthened the demand for the Japanese Yen, gold and the treasuries. The demand for the Yen also spiked after ex-BOJ Kuichi said
Read More:https://www.xtreamforex.com/usdjpy-clocks-8-week-low-109-83-10-yr-us-t-yield-shed-3bps/

 

[xtreamforex]

EUR/USD: US DATA GAVE THE GREENBACK A LIFT
EUR/USD is rebounding from an immediate support marked by 23.6% Fibonacci retracement level of its latest leg of up-move from 1.1119 to 1.1910. There’s no notable progress in the pair, with the 4 hours chart showing that the price is unable to surpass a modestly bearish 20 SMA, currently around 1.1820, whilst the Momentum indicator remains flat below its 100 level and the RSI at 51, in line with the limited volatility around the pair.
Read More:https://www.xtreamforex.com/eurusd-us-data-gave-greenback-lift/

 

[xtreamforex]

GBPUSD Forecast | Daily Technical Analysis for January 25, 2017

GBPUSD Technical Forecast Overview

Yesterday Closed 1.2521

Today Open 1.2521

Day’s Range 1.2513 - 1.2542

52 wk Range 1.1450 - 1.5020

1-Year Return - 12.04%

GBPUSD Technical Support and Resistance
Possible trading range for today 1.2513 - 1.2542

GBPUSD pair possibly will find the immediate support at 1.2442. If, market breaks the first support then it will go for the following support to test. Following supports are 1.2363 and 1.2311.

On the other side the market has immediate resistance at 1.2573. If, market breaks the primary resistance level then, market will go for the new resistance level 1.2625 and 1.2704.

GBPUSD Fundamental Analysis
We had mentioned the same thing in our forecast yesterday where we had said that the ruling was expected to uphold the earlier decision which made the Parliament approval mandatory. We had also mentioned that though this would be good for the pound overall, there was a likelihood of a buy the rumor, sell the fact kind of move and this is what we saw yesterday as well as the pair crashed through 1.2500 and went as low as 1.2420 following the ruling but then it spent the rest of the day recovering. As of this morning, it has managed to recover its entire loss and sits below 1.2550 and we believe that this move in the pound has the legs to carry it as far as 1.27 or 1.28. This ruling is positive for the pound in the short term but its long term effects and the subsequent delays could place a lot of pressure on the pound in the medium term.

We do not have any major news from the UK but we have the oil inventory data from the US later on in the day which has the capacity to bring in risk into the markets. We believe that the GBPUSD pair will consolidate through the day with a bullish bias.



EURUSD Forecast | Daily Technical Analysis for January 25, 2017

EURUSD Technical Overview
Yesterday Close 1.0731

Today Open 1.0731

Day’s Range 1.0722 - 1.0738

52 wk Range 1.0339 - 1.1616

1-Year Change - 1.09%

EURUSD Technical Support and Resistance
Our Possible trading range for today 1.0722 - 1.0738

EURUSD pair possibly will find its immediate support at 1.0707. If, market breaks the first support then it will go for the following support to test. Following supports are 1.0683 and 1.0649.

On the other side, we found immediate resistance at 1.0765 from our EURUSD technical analysis. If, market breaks the primary resistance level then, for sure market will go for the new resistance level 1.0799 and 1.0823.

EURUSD Fundamental Analysis
We had mentioned in our forecast yesterday that the EURUSD pair was at a crucial region of resistance which it would find hard to break through soon and that’s what we have been seeing over the past 24 hours as the pair consolidates just below that region, unable to find a way through. And with the twitter happy President of the USA also choosing to remain silent for a day, contrary to his character, the dollar also got a little breather and it managed to hold its own against all the currencies and this was another reason for the consolidation and ranging in the EURUSD pair.

We have the German IFO business climate which is expected to continue to show up the strong German economy and we also have the oil inventory data from the US and any drop in that should be able to increase the oil prices and increase the risk around the markets.

 

[xtreamforex]

GBP/USD – Yield differential at critical levels ahead of Services PMI numbers
The offered tone around the US dollar strengthened in Asia on Fed leadership talk, pushing the GBP/USD pair to a high of 1.3274.

Yield differential at critical level

The US-UK 10-year bond yield spread currently stands at 96 basis points. The chart above shows bearish head and shoulders reversal was confirmed on September 14. The spread narrowed to 88 basis points on September 25. No wonder, the GBP/USD rose to 1.36 levels.

Over the last few days, the spike in the Treasury yields, saw the spread re-test head and shoulders neckline. The Fed leadership talk weighed over the treasury yields yest

The failure at the neckline resistance means the spread is positioned in favor of GBP ahead of the UK services PMI and US ISM non-manufacturing PMI release.

UK Services PMI is due at 0830GMT

UK services PMI is expected to show the pace of expansion in the activity remained unchanged in September at 53.2.

US ISM non-manufacturing is due at 1400 GMT

Kathy Lien from BK Asset Management writes, ” US ISM non-manufacturing number is more important that the ADP as “the employment component of the report has a stronger correlation with non-farm payrolls so we’ll be watching that closely as it could erase or exacerbate the market’s reaction to NFP.”

The yield spread could narrow, leading to GBP/USD rally if the UK services PMI beats estimates, while the US ISM non-manufacturing signals a sharp slowdown in the activity. Later in the day, comments from Fed’s Yellen could influence the USD demand.

erday, thus the spread fell back to 96 basis points

GBP/USD Outlook

GBP/USD is seen falling below 1.32 if the UK services PMI misses estimates. Kathy Lien from BK Asset Management writes, “with retail sales rising strongly in August and consumer confidence increasing, we may actually see an improvement in the service sector”, in which case Sterling could run into offers around 1.3343 [September 28 low].
ReadMore:https://www.xtreamacademy.com/2017/...critical-levels-ahead-of-services-pmi-numbers

 

[xtreamforex]

EUR / USD

The EUR declined 0.32% against the USD on Friday and closed at 1.1157.

The Euro was under pressure early in the prior week as sentiment surged towards the USD following some comments from the Fed’s Janet Yellen which suggested that the requirements for a rate hike had almost been met. Subsequently, it is salient to take a quick look at what occurred last week and what is potentially on the horizon for the pair.

The pair is expected to find support at 1.1172 and fall through could take it to the next support level 1.1169

The pair is expected to find its first resistance at 1.1180 and arise through could take it to the next resistance level of 1.1185

 

[xtreamforex]

2017: A CHANGING ENVIRONMENT FOR CENTRAL BANKS – RABOBANK

2017 may have been extraordinary in terms of the political influences on G10 FX markets, but central banks have stolen a fair share of market attention, according to Jane Foley, Senior FX Strategist at Rabobank.

Key Quotes

“In total the Fed hiked rates 3 times in 2017 bringing the total to 5 policy moves since the end of 2015. Other central banks in the G10 have been warming up this year in preparation of a period of less policy accommodation. The pace of moves, or in some cases perhaps a lack of policy action, will be a dominating theme for G10 FX markets into 2018 and beyond.

Read more : http://www.xtreamacademy.com/forex-news/2017-changing-environment-central-banks-rabobank/


#forex #news #Trading #xtreamforex #forcast #forexsignal #makemoney #moneyfromhome

 

[xtreamforex]

FOREX TODAY: AUSSIE – A BIG MOVER IN ASIA, A LIGHT CALENDAR AHEAD

An eventless Asian session kicked-off yet another holiday-thinned week, as slowing volumes and irregular volatility persisted heading into the New Year break. There were no major macro news reported, excepted for the Chinese industrial profits and China’s Beige Book Survey, which had little impact on the fx space.

The Aussie emerged the top performer, gaining the most amid a broadly subdued USD and the recent strength in commodities’ prices. The Kiwi also followed suit while the Yen traded on the back foot, as yesterday’s comments from BOJ Kuroda offset a string of upbeat Japanese economic data.

Among other related markets, the Asian stocks traded mostly mixed, while gold prices hold near 3-week tops of $ 1288.40. WTI eased-off multi-year tops to trade below the $ 60 mark.

Main topics in Asia

BoJ’s Kuroda: Will patiently maintain powerful monetary easing

Reuters came out with the latest comments from the BoJ Governor Kuroda, delivered yesterday at the Keindanren (Japan Business Federation) in Tokyo.

Gold reaches 3-week high amid thin trading

Gold has built on recent gains, currently trading at $1,282.00, following a resurgence in demand amid thin liquidity conditions.

China’s November industrial profit growth slowest since April

Read more : http://www.xtreamacademy.com/forex-news/forex-today-aussie-big-mover-asia-light-calendar-ahead/

 

[xtreamforex]

EUR/USD SUPPORTED AT 1.2000 AHEAD OF EZ PMIS

• DXY in doldrums
• 2017 highs of 1.2092 still in sight.
• Manufacturing PMIs to dominate.

The EUR/USD pair extends its upside consolidative mode into Asia, now looking to retest three-month tops of 1.2030 levels ahead of the Euro area final manufacturing PMI releases.

EUR/USD: Bullish bias intact

Stepping into the New Year, the EUR/USD pair keeps its recent bullish momentum intact, as the US dollar remains broadly undermined on weaker Treasury yields, in the wake of expectations of the monetary policy convergence. Markets believe that the Fed could under-deliver on its rate hike expectations while the ECB could turn hawkish amid improving Eurozone economic prospects.

Valeria Bednarik, Chief Analyst at wrote, “The EUR/USD pair is not far from its 2017 multi-year high of 1.2092, and from a technical point of view, seems poised to extend its gains, despite these levels are highly uncomfortable for the ECB that fears a stronger currency will delay the progress towards their inflation target.”

Focus now shifts back towards fundamentals, with the final manufacturing PMIs from across the Euro area economies to dominate today ahead of the US payrolls data.

EUR/USD Technical Levels

Bednarik added: “The 4 hours chart shows that technical indicators turned modestly lower but hold within the overbought territory, as the 20 SMA advanced almost vertically, currently at 1.1925, providing a strong intraday dynamic support in the case that profit-taking hit the pair this Tuesday. Support levels: 1.1960 1.1925 1.1890. Resistance levels: 1.2045 1.2090 1.2130.

Read more : http://www.xtreamacademy.com/forex-news/eur-usd-supported-1-2000-ahead-ez-pmis/

 

[xtreamforex]

GBP/USD EYES SEPT 2017 HIGHS AHEAD OF UK CONSTRUCTION PMI

• Strongest since mid-Sept 2017.
• Further bullishness ahead.
• The UK construction PMI – Up next.

The bulls weakened their grip in mid-Asia, allowing a brief phase of consolidation in the GBP/USD pair near four-month tops of 1.3605, as investors gear up for the UK construction PMI release.

GBP/USD: USD still remains the key driver

Amid risk-on trades seen in the Asian equities and positive oil prices, the spot remains better bid, largely unperturbed by a tepid broad-based US dollar recovery. Markets switch their positions and prefer to hold the US currency heading into the key FOMC Dec meeting minutes.

Meanwhile, the pair appears to gather pace for a test of September 2017 highs reached at 1.3657, having surpassed the Dec tops of 1.3552 in the US last session. The recent upsurge in Cable was mainly driven by broad USD weakness while a lack of Brexit headlines (mostly seen as bad) also added to the upside risks in the pound.

Read more : http://www.xtreamacademy.com/forex-news/gbp-usd-eyes-sept-2017-highs-ahead-uk-construction-pmi/

 

[xtreamforex]

USD/JPY AIMS TO RETEST 113.0 AFTER FOMC MINUTES

• Encouraging data out of the US, FOMC minutes lifts USD/JPY
• USD/JPY technicals still suggests limited buying interest

USD/JPY has reached new session highs at the open of business in Tokyo, testing offers at 112.70 after the FOMC minutes/upbeat US data-induced rebound from Wednesday.

USD/JPY fueled by upbeat US data, FOMC minutes

As Valeria Bednarik, Chief Analyst at notes: “The USD/JPY pair advanced up to 112.57 this Thursday, as stronger-than-expected US data lifted the greenback against its Japanese rival, later fueled by the release of FOMC Minutes. Not that the document surprised investors, but after the release, US Treasury yields recovered the ground lost earlier on the day, helping the pair to extend its daily gains. ”

Read more : http://www.xtreamacademy.com/forex-news/usd-jpy-aims-retest-113-0-fomc-minutes/

 

[xtreamforex]

GBP/USD DAILY FUNDAMENTAL FORECAST – JANUARY 9, 2018

The pound continues to trade between the 1.35 and 1.36 region and unless and until there is a breakout on either side, it is better for the traders to stay out

Discover the advantages of trading gold and precious metals online with a regulated international broker.
Advertisement
The pair has been trading within a tight range over the last 24 hours as a period of consolidation has set in in the markets.The dollar has been holding steady and with yesterday being the first trading day of the week, there was more of trade positioning and watching of the price action by the traders and this limited the action in the markets.

Read more : http://www.xtreamacademy.com/forex-forecast/gbp-usd-daily-fundamental-forecast-january-9-2018/

 

[xtreamforex]

ETH/USD PRICE FORECAST JANUARY 10, 2018, TECHNICAL ANALYSIS

Briefly, Ethereum had fallen to number 3 in the crypto currency world based upon value. However, we have seen the market take over the number 2 level again, as the resiliency continues to prove itself. The market now seems to be knocking on the door of the $1250 level, which being broken to the upside should send this market much higher. At that point, I would anticipate a move to the $1300 level initially, and then longer-term I would look for the $1500 level. In the meantime, I think short-term pullbacks are buying opportunities as we build up the momentum necessary to break out. I think that the $1000 level underneath is probably the “floor” in the market, so therefore it’s not until we break down below that level that I would be concerned with Ethereum overall.

Read more : http://www.xtreamacademy.com/forex-...-forecast-january-10-2018-technical-analysis/

 

[xtreamforex]

AUD/JPY ENDED A THREE-DAY LOSING STREAK, DEFENDS 23.6% FIB

• AUD/JPY found takers around 23.6% Fib.
• Eyes China data.

AUD/JPY defended the 87.28 (23.6% Fib R of Nov-Jan rally) yesterday and jumped to a high of 88.09 before closing the day on a positive note at 87.79.

Having snapped the three-day losing streak yesterday, the pair is trading in a sideways manner around 87.80 levels.

Focus on China data

A better-than-expected China trade data may put a bid under the AUD/JPY cross. A more sustained rise above 88.00 could be seen if the details reveal a solid pick up in the imports of commodities like iron ore and copper (top Australian export).

Read more : http://www.xtreamacademy.com/forex-news/aud-jpy-ended-three-day-losing-streak-defends-23-6-fib/

 

[xtreamforex]

GBP/USD – 1.39 ON THE CARDS?

• GBP/USD chewed through a key resistance zone on Friday.
• CME data show max additions in 1.39 strike call option.
• Technicals favor further upside.

Having defended 1.35 levels since the beginning of the year, the GBP/USDchewed through strong resistance in the 1.3659-1.3710 area on Friday and closed above 1.37 for the first time since June 2016.

The strong move upwards seems to have revived interest in the GBP/USDcalls. The CME data for GBP/USD February expiry options shows the open interest/open positions in call options rose by 1526 contracts on Friday. Meanwhile, the open interest in put options increased by a mere 408 contracts.

What’s more interesting is that open interest at 1.39 strike call went up by 754 contracts. Also, additions were seen in 1.3950 call, 1.40 call and 1.4050 call. The numbers indicate the investors could be betting on a further upside in the pair, possibly towards 1.39 levels.

Read more : http://www.xtreamacademy.com/forex-news/gbp-usd-1-39-cards/

 

[xtreamforex]

NZD/USD ON A CORRECTIVE SLIDE NEAR 0.7300 AHEAD OF NZ GDT

• DXY rebound caps the upside.
• A stronger Yuan fix underpins.
• Eyes on NZ GDT price index

The NZD/USD pair kicked-off Tuesday on a bearish note, correcting a part of yesterday’s rally to fresh 4-month tops of 0.7315, as the bulls take a breather ahead of the key NZ GDT price index release.

NZD/USD finds support near 0.7285

The spot failed to sustain above the 0.73 handle and corrected briefly before finding fresh bids near 0.7285 region, after the PBOC set the Yuan reference rate for today at 6.4372, the strongest since Dec-mid 2015. The NZD is used as a liquid proxy for bets on China, as China is New Zealand’s top trading partner.

Read more : http://www.xtreamacademy.com/forex-news/nzd-usd-corrective-slide-near-0-7300-ahead-nz-gdt/