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Trend 11-05-2015

European futures higher ahead of Draghi’s speech

Daily BriefingCurrenciesEUR/USD: The pair is trading below its downward trend line on a 60 minute time frame. The next resistance is at 1.1435 and the support is at 1.10. USD/JPY: The pair has broken its upward trend line on a 30 minute time frame. The next support is at 118.35 and resistance at 121.18. GBP/USD: The pair is trading above its 50 and 100 day moving averages on a 30 … [Read More...]

monitors

US closed at record high | Bank of Japan kept stimulus unchanged

The U.S. markets once again closed at record high last night on the back of the disappointing US economic data. Bad news is a good news for the markets, as this has pushed the expectations that the Fed will not rush anytime soon in raising the interest rate. The expectations of the Fed raising the interest rate next month are almost next to none.Investors are certainly looking for evidence … [Read More...]

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EUR/GBP- Downward momentum strong, will you trade?

The EUR/GBP pair is trading below its downward trend line on a daily time frame. This confirms that the trend is towards the downside. Although, the price is trading below both the 50 day shown in yellow and the 100 day shown in red moving averages which confirms the above argument however, the slope of the 50 day moving average is more anchored towards the upside. If the 50 day moving average … [Read More...]

Today’s Technical Analysis

Screen Shot 2015-05-22 at 06.12.37

EUR/GBP- Downward momentum strong, will you trade?

The EUR/GBP pair is trading below its downward trend line on a daily time frame. This confirms that the trend is towards the downside. Although, the price is trading below both the 50 day shown in yellow and the 100 day shown in red moving averages … [Read More...]

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Crude Oil- Losing its upward mojo

Crude oil has broken its upward trend line on a 4 hour time frame. The has formed a triple top and touched its resistance zone, which is mentioned below, three times. If this pattern does break towards the downside, we could see the price moving … [Read More...]

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USD/JPY- Trading in a range pattern

The USD/JPY pair is trading in a side pattern on a 4 hour time frame. This means that there is no clear trend of the price. The price is also trading within the Bollinger band which reflects that the volatility is low and the price is trading close … [Read More...]

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IBEX formed symmetrical triangle Pattern, will you trade?

The IBEX index is trading below the downward trend line on a 4 hour time frame. This confirms that the index is trading towards the downside however it is has also formed a symmetrical triangle pattern which ranks on the bottom of the list. If the … [Read More...]

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Crude showing solid upward trend

Crude oil is trading sharply above its upward trend on a 4 hour time frame. This confirms that the upward trend is robust and the bias remains towards the upside as long as the price stays above this trend line.The crude price is testing the 50 … [Read More...]

Weekly Forecast

retail sales 12-05

Week Ahead: Fundamentals U.S – 24th – 30th of Nov.

U.S will kick off their trading week with a major economic event  release on Tuesday which is the Prelim GDP q/q data. On Wednesday, investors will look at the core durable goods orders and the unemployment claims data.  Also on Wednesday, the main focus of the week with the New Homes Sales data.

 

Tuesday Fundamentals:

1.      Prelim GDP q/q

Data:

Previous Figure: 3.5%

Forecast Figure: 3.3%

Time: 14:30 GMT

 

2.       CB Consumer Confidence

Data:

Previous Figure: 94.5

Forecast Figure: 95.9

Time: 16:00 GMT

Screen Shot 2014-11-24 at 11.54.08

Source: Bloomberg & Bloomberg Brief

Sentiment:

Most economists are predicting that the overall reading could have inflated due to the continuous fall in the oil prices which has increased the buying power for the consumers.

 

Wednesday Fundamentals:

1.       Core Durable Goods Orders m/m

Data:

Previous Figure: -0.1%%

Forecast Figure: 0.5%

Time: 14:30 GMT

 

2.     Unemployment Claims

Data:

Previous Figure: 291K

Forecast Figure: 287K

Time: 14:30 GMT

 

3.    New Home Sales

Data:

Previous Figure: 467K

Forecast Figure: 471K

Time: 16:00 GMT

Screen Shot 2014-11-24 at 12.01.20

Source: Bloomberg & Bloomberg Brief

Sentiment: 

We do not think that the New Home Sales improvement will show much of an improvement this week because the inventory data is still depressed.

 

core CPI  15-04-2014

Week Ahead: Fundamentals U.S – 14th – 21th of April.

 

U.S will kick off their trading week with a major economic event  release on Monday which is the core retail sales data. On Tuesday, investors will look at the core CPI and Empire State Manufacturing. Wednesday is the main focus day of the week with Building permits and housing starts. Thursday, will focus on unemployment claims and the Philly Fed manufacturing index will take traders attention.

 

Monday Fundamentals:

1.       Core Retail Sales m/m

Data:

Previous Figure: 0.3%

Forecast Figure: 0.5%

Time: 13:30 GMT

Tuesday Fundamentals:

1.       Core CPI m/m

Data:

Previous Figure: 0.1%

Forecast Figure: 0.1%

Time: 13:30 GMT

 

Sentiment:

Most economists are predicting that the overall reading could remain muted because the underlying factors rents are not increasing. The chart shows the comparison between the PPI, Core PPi, CPI and core CPI index.

core CPI  15-04-2014

Source: Bloomberg & Bloomberg Brief

 

2.       Empire State Manufacturing Index

Data:

Previous Figure: 5.6

Forecast Figure: 8.2

Time: 13:30 GMT

 

Sentiment:

The chart shows the comparison between the empire state index and the Philadelphia index.

empire state 15-04-2014

Source: Bloomberg & Bloomberg Brief

 

Wednesday Fundamentals:

1.       Building Permits

Data:

Previous Figure:1.01M

Forecast Figure:  1.00M

Time: 13:30 GMT

 

2.       Housing Starts

Data:

Previous Figure: 0.91M

Forecast Figure:  0.97 M

Time: 13:30 GMT

 

Sentiment:

An increase in the speculation such as a hike in the interest rate and diminishing hunger for new homes could have an impact on the final number.  The belwo chart shows the comparison between the permits and Starts.

housing starts

Source: Bloomberg & Bloomberg Brief

 

 

Thursday Fundamentals:

 

1.       Unemployment Claims

Data:

Previous Figure: 300K

Forecast Figure:  316K

Time: 13:30 GMT

 

2.       Philly Fed Manufacturing Index

Data:

Previous Figure: 9.0

Forecast Figure: 9.6

Time: 15:00 GMT

 

The above is for informational purposes only and NOT to be construed as specific trading advice. Responsibility for trade decisions is solely with the reader.
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