Analytics News and Market Forecast

Credit Suisse is still considering the bearish breakdown for EURUSD to be going very soon from now. The key support level to be crossed for the breakdown to be started is 1.0741:
"This is holding for now, and we allow for a potential bounce from here. However, we look for an eventual breakdown to test trendline support, now at 1.0741. We would expect a bounce here, but beneath it can trigger a move down to 1.0660."
"EUR/USD has extended its decline in its broader “triangular” range to weigh on the May low and 61.8% retracement support at 1.0819."
And there is some strategy which CS proposed for us:
"Near-term resistance shows at 1.0962/66, above which can see a move back to 1.1035, with 1.1083/89 expected to cap."


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The group of emerging market economies have launched their latest effort to face the dominance of Western lenders. Despite the general opinion that the bank is a means to oppose the International Monetary Fund and World Bank, China insists the institution is meant to 'supplement' not threaten the current system.


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W1 price is located to be above yearly Central Pivot at 114.36 and below R1 Pivot at 127.96:
The price is on bullish ranging between Central Pivot level at 114.36 and R1 Pivot level at 127.96;
The price is breaking triangle pattern together with trendline from below to above for the bullish trend to be continuing;
If weekly price will break R1 Pivot at 127.96 so the primary bullish market condition will be continuing up to R2 Pivot value as the new top in this situation, otherwise the price will be ranging within yearly Central Pivot and yearly R1;
“The mid-June high around 124.40 and the 78.6% retracement of June – July decline at 124.70 represent the next big hurdle for the exchange rate”;


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Andy Shroder, a solar energy researcher and solar panel manufacturer, has been removed from the list of merchants because he was accepting Bitcoin. According to eBay, Bitcoin does not qualify as a payment method due to 'two key factors' - security and safety, and ease of use:
“Please understand that you mentioned you accept ‘Bitcoin’ as a method of payment. Some online payment companies are fairly new and inexperienced and they do not provide sufficient fraud protection to members. When we review payment methods to determine whether they are allowed on eBay, two key factors that we consider are ‘Security and Safety’ and ‘Ease of use.’ Please do not offer this payment method.”


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W1 price is located between Yearly Pivot level at 1237.48 and S1 Pivot at 1082.97:
The price is on bearish market condition for ranging between Central Pivot level at 1237.48 and S1 Pivot level at 1082.97;
The price broke triangle pattern on close weekly bars for the bearish trend to be continuing;
If weekly price will break S1 Pivot level at 1082.97 from above to below so the primary bearish market condition will be continuing; if price will break PP YR1 at 1237.48 from below to above so we can see the reversal of the price movement to the primary bullish condition; otherwise the price will be ranging within yearly Central Pivot and yearly S1 Pivot;
“XAU/USD fell to a 5-year low. With the S&P 500 just off all-time highs and the Federal Reserve supposedly contemplating a move to policy normalization (taper tantrum was almost two years ago now) it is not that surprising to see gold doing what is doing”;


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Wednesday marked the 10th session of losses for gold. Comex gold for August delivery was last around $1,093 an ounce.
While some analysts say gold may bounce back soon, Goldman's Jeffrey Currie, head of commodities research, suggested the yellow metal could trade below $1,000 an ounce.


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EUR/USD:
The price is ranging between 1.0830 & 1.0995 levels for the primary bearish.
The price will go to be out of ranging zone in case of 1.0879 support level to be broken from above to below.
The price is located between 21 SMA and 50 SMA, and it is going along with 50 SMA as the strong resistance level of the value of it.
"With fresh mid* body support at 1.0879, near-term bulls should be inspired to at least test resistance at the lower end of the "Cloud" at 1.0994. If not stopping there a short-term descending trendline, now at 1.1105 would also deserve some attention. Current intraday stretches are located at 1.0830 & 1.0995."


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W1 price is located between yearly Central Pivot at 1.5946 and S1 Pivot at 1.4702:
The price is on bearish market condition for ranging between Central Pivot level at 1.5946 and S1 Pivot level at 127.96;
The price is breaking triangle pattern for the direction;
If weekly price will break S1 Pivot level at 127.96 from above to below so the primary bearish market condition will be continuing up to S2 Pivot level as the new bottom; if price will break PP YR1 at 1.5946 from below to above so we can see the reversal of the price movement to the primary bullish condition; otherwise the price will be ranging within yearly Central Pivot and yearly S1 Pivot;
“A move under 1.5485 is needed to re-instill some downside momentum into the exchange rate”;


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The European Central Bank has decided to provide Greece with another €900m of emergency liquidity, easing the pressure on Greek lenders as it prepares to embark on a third tour of duty in Athens, Bloomberg reported.


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On Wednesday the greenback strengthened further after fresh data signaled sales of existing homes in the U.S. climbed at the fastest pace since February 2007.


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