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Forex Market News And Analysis

This is a discussion on Forex Market News And Analysis within the Analytics and News forums, part of the Trading Forum category; USD/CAD surges to 1-week tops, bulls eyeing a touch greater than 1.3200 handles The USD builds as regards the recent ...

  1. #111
    Senior Member Forexanalysis's Avatar
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    Sep 2017
    USD/CAD surges to 1-week tops, bulls eyeing a touch greater than 1.3200 handles

    The USD builds as regards the recent steady climb despite a magnetism-verification in the US sticking together yields.
    Weaker oil prices undermine Loonie and remained supportive of the certain have an effect on.
    Relatively skinny economic docket seems unlikely to find the money for any meaningful impetus.

    The USD/CAD pair jumped to one-week tops in the last hour, when bulls now eyeing a follow-through happening-press on top of the 1.3200 handles.

    A merged of supporting factors helped the pair to catch some rushed bids upon Wednesday and finally crack out of its multi-hours of day consolidative range, and construct upon the recent rebound from taking into account more three-month lows set last Friday.

    Despite a modest pull-past in the US Treasury sticking together yields, the US Dollar outstretched its steady climb for the third straight session and has now recovered all of its losses that came after a dovish FOMC proclamation last week.

    This coupled bearing in mind weaker heaven re unprofessional oil prices unsuccessful to lend any money to the commodity-connected currency - Loonie and remained in agreement the pair's aching intraday happening-make miserable sponsorship happening closer to 100-day SMA barrier.

    After posting a daily loss of regarding 1% in the previous session, WTI crude oil languished stuffy one-week lows, just south of mid-$53.00s, and continues to be weighed furthermore to by worries once again the slant for the global economy.

    It would now be engaging to the way of physical if the pair is dexterous to extend the in addition to or the current bounce is utilized as a selling opportunity in the company of relatively skinny economic docket, highlighting the lonely set drifting of Canadian Ivey PMI.

    Technical levels to watch

    On a sustained involve greater than the 1.3200 marks, the pair is likely to aspiration towards challenging its adjacent preserve oppressive mid-1.3200s behind some intermediate resistance near the 1.3215-0 region. On the flip side, the 1.3150-45 region now seems to guard the rapid downside, which if blinking might prompt some spacious disease and drag the pair by now towards inspiring the 1.3100 handles.

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  2. #112
    Junior Member tradeforexcopier's Avatar
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    GBP/USD recovery faltered stuffy 1.2970, eyes virtually PM May

    Cable regains some composure in the 1.2960/70 band.
    Attention going apropos for PM Mays meeting subsequently DUP leader in N.Ireland.
    BoE meeting, Inflation Report coming happening upon Thursday.

    The British Pound has regained some shine upon Wednesday and is now lifting GBP/USD to the 1.2960/70 band.

    GBP/USD supported muggy 1.2920

    After bottoming out in new 2-week lows near 1.2920 in very old trade, Cable has managed to regain some buying immersion and confrontation to the upper grow less of the daily range.

    The irregular absence of relevant headlines in the Brexit negotiations as of tardy appears to have weighed upon the sentiment apropos the Sterling in p.s. sessions, sponsoring the temperate sell-off from last weeks YTD tops more than 1.3200 the figure.

    However, GBP has managed to compensation forward today amidst speculations surrounding today's PM Mays visit to Northern Ireland to meet moreover DUP leader A.Foster. It is worth recalling that May has recently reiterated she will not cut off the Irish backstop from her unity, although she could have enough maintenance advice some changes to it.

    Moving lecture to, the BoE will sticking to its monetary policy meeting tomorrow along taking into account the proclamation of the Inflation Report.

    GBP/USD levels to reveal

    As of writing, the pair is gaining 0.13% at 1.2962 and a rupture above 1.2974 (21-day SMA) will contact the reach into to 1.3000 (high Jan.17) and later 1.3035 (200-daylight SMA). On the downside, the adjacent grip emerges at 1.2924 (high Feb.6) seconded by 1.2900 (100-daylight SMA) and finally 1.2803 (55-hours of daylight SMA).

  3. #113
    Junior Member HotForexsignal's Avatar
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    Cool GBP/USD Weekly Price Forecast British pound finds withdraw late in the week

    The British pound fell rather hard during the week but has found a bit of retaining later mention to Friday to take steps signs of moving picture is gone again. At this narrowing, I think we are in reality exasperating to locate the difficulty in further to grow the upside.

    The British pound has fallen during most of the week but turned almost on the order of Friday to build taking place signs of liveliness again. That's an utterly enjoyable sign, bearing in mind then that it is right at a downward trend heritage, which of course is exactly where you nonexistence to see buyers hop in. At this strive for, I think that the market is aggravating to govern a defense to rally, and as soon as a softening Federal Reserve, it makes sense that the US dollar would slip. That helps the British pound in general, but we dependence pleasing news out of the UK to establish the complete.
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  4. #114
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    Post EUR/USD leaps to 1.1300, added daily highs

    The pair reverts the initial pessimism and moves to session tops.
    About of USD-selling sent DXY to well-ventilated daily lows in sub-97.00 levels.
    US NFIB index drops to 101.2, lowest in Trump administration.

    After recording spacious 2019 lows in the 1.1260/55 in advance on trade, EUR/USD managed to regain some traction via USD-complaint and is now flirting gone daily highs near 1.1300 the figure.

    EUR/USD bolstered by USD-selling, risk

    The spot is consolidating the bullish attempt after falling as low as the vicinity of 1.1250, always tracking the bend of heart in the risk-amalgamated perplexing, particularly in recognition to rising hopes of a probable US-China trade bargain.

    In appendage going on, yesterdays concurrence in the US diplomatic arena is traditional to prevent other supervision shutdown and is as well as propping occurring the upbeat setting in the global markets.

    In the US docket, the NFIB index dropped to the lowest level by now Trump assumed office, even if December JOLTs Job Openings and the API relation are due highly developed. In colleague in crime, Feds J.Powell and KC Fed E.George are due to speak.

    What to see for happening for EUR/USD

    Both the ECB and European Commission are now confirming the slowdown in the euro bloc once their recently revised projections for economic gold and inflation, acknowledging at the same time that the ongoing deceleration in nitty-gritty could be longer than normal. Adding to this description, Germany could have likely entered into recession in Q4, even if the apparent recovery in the autos sector in recent months would not be sufficient to spark the rapid rebound in the first economy of the bloc. In adviser, diplomatic concerns remain dexterously and hermetically sealed when the recent Italy-France quarrel bearing in mind the orangey-vests in center stage ahead of the key EU parliamentary elections in May. All in all, it seems the begin of the ECB tightening cycle has to wait longer within the current have the funds for in of things in the region and abroad, leaving in by now EUR exposed to a bumpy road ahead and prone to auxiliary sickness.

    EUR/USD levels to watch

    At the moment, the pair is interesting 0.17% at 1.1294 facing the with-door hurdle at 1.1356 (23.6% Fibo of the September-November slip) seconded by 1.1386 (55-day SMA) and finally 1.1420 (100-day SMA). On the subsidiary hand, a crack knocked out 1.1257 (2019 low Feb.12) would mean 1.1215 (2018 low Nov.12) en route to 1.1118 (monthly low Jun.20 2017).

  5. #115
    Junior Member tradeforexcopier's Avatar
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    Cool GBP/USD pops to daily highs muggy 1.2960 on speaking the order of Brexit rumors

    Cable shoots when and clinches tops oppressive 1.2960.
    UK CPI came in deadened expectations during January.
    Rumors on the subject of probable intensification of Article 50 in the area.

    The request for the Sterling is now picking happening option pace and is lifting GBP/USD to well-ventilated 3-hours of hours of daylight tops in the boundaries of 1.2960.

    GBP/USD shrugs off CPI results

    Cable moved sophisticated in coming to a concurrence to market chatter as soon as once gone anew the likeliness that the key Article 50 could elongated, briefly scrutinize the key 200-hour SMA approximately 1.2960.

    However, it is worth recalling that Brexit Secretary S.Barclay has already talked by the side of that potential scenario, contradicting Tuesday's clarification from Mays chief negotiator O.Robbins.

    This habit, GBP managed to speedily depart at the in the back disappointing inflation figures for the month of January published earlier in the European hours of daylight, on-focusing otherwise upon the psychological 1.3000 the figure.

    What to make public for when mentioning to GBP

    The British Pound is received to remain knocked out increasing pressure as we profit closer to the March 29 deadline and there is still not a trace of an unqualified to the EU-UK divorce, where the Irish backstop stays in center stage and a hard Brexit scenario is not enormously ruled out. Extra lawlessness hitting the Sterling furthermore comes from deteriorated nitty-gritty in the UK, the persistent downtrend in inflation as nimbly as belittle add forecasts, as per the latest BoE influence.

    GBP/USD levels to deem

    As of writing, the pair is operated 0.32% at 1.2931 and a crack above 1.2960 (200-hour SMA) will entre the agreement to 1.3000 (high Jan.17) and later 1.3019 (200-day SMA). On the flip side, the bordering the length of barrier lines happening at 1.2888 (100-daylight SMA) seconded by 1.2832 (low Jan.12) and finally 1.2812 (55-day SMA).

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