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USD/JPY Attempting Break Above Hourly 50-MA The corrective move in the USD/JPY strengthened further in Europe, with the pair making a failed attempt to break above hourly 50-MA located at 109.10 levels...
Analytics & Forecasts
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Roberto Jacobs, 8 April 2016, 10:09
Technical Analysis of USDX for April 8, 2016 The Dollar index is showing signs of a possible reversal that is near. Several bullish divergence signals are given despite the new low. The trend remains bearish but dollar bears should be very cautious as a reversal could occur any time now...
Technical Analysis of Gold for April 8, 2016 Gold made an upward move yesterday towards the $1,240 critical resistance level but did not manage to break it. The weekly trend remains supportive but, in my overall view, long positions are preferred only after a deeper decline towards $1,170-$1,100...
US: Yellen Provides Balance to Previous Pessimism - MUFG Derek Halpenny, European Head of GMR at MUFG, notes that the Fed Chair Yellen was last night more eager to emphasise the positives while sharing the stage with the previous three Fed Chairmen – Volker, Greenspan and Bernanke...
Currency
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Roberto Jacobs, 8 April 2016, 09:52
Treasury yields opened modestly lower coming out of overnight trading Thursday and then saw a good further rally in the New York morning before stabilizing at the day’s best levels through the afternoon, resulting in substantial gains across the curve at the close...
Analytics & Forecasts
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Batur Asmazoglu, 8 April 2016, 09:49
Asia Roundup: Antipodeans Head for Weekly Losses, Dollar steady After Hitting 17-Month Low Vs Yen - Asian Shares Extend Losses Market Roundup Japan FinMin Aso – Current FX moves one-sided, rapid moves undesirable, will take necessary steps vs FX moves as needed...
Market News
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Roberto Jacobs, 8 April 2016, 09:49
FXWIREPRO: BTC/USD Trades Well Above $400, Good to Buy at Dips Major support - $400 BTC/USD has slightly recovered till $422 after making a low of $403.It is currently trading around $420.66. Short term trend is slightly bullish as long as support $400 holds...
Analytics & Forecasts
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Roberto Jacobs, 8 April 2016, 09:44
Should BoJ Intervene in Yen? We at FxWirePro, think they should not. Even if they still do, it may not yield the result they are looking for. Reasons being simple – According to G20 agreement, currency intervention to exploit trade benefits through competitive devaluations are not to be practiced...
Currency
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Roberto Jacobs, 8 April 2016, 09:41
European Stocks Advance as Commodity Shares Rally Oil price gains and the resulting rise in commodity shares pushed the major European indices higher in early trading on Friday. At the time of writing, pan-European Euro Stoxx 50 index was up 1.10%. Germany’s DAX and France’s CAC were up 0...
Market News
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Roberto Jacobs, 8 April 2016, 09:38
Technical Analysis of USD/CHF for April 08, 2016 USD/CHF is expected to trade in a lower range as the pair is under pressure. The pair remains on the downside after swinging off yesterday's low of 0.9520, showing a pattern of lower highs...
Technical Analysis of NZD/USD for April 08, 2016 NZD/USD Intraday: Key resistance is at 0.6820. The pair remains weak below its nearest key resistance at 0.6820 and is likely to challenge its support at 0.6755 in sight...
The great JPY-funded carry trade unwind has started and is not yet complete, suggesting JPY staying in demand. Price activity ahead of this weekend will tell us about the Street's positioning...
Analytics & Forecasts
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Batur Asmazoglu, 8 April 2016, 09:33
Technical Analysis of GBP/JPY for April 08, 2016 GBP/JPY is expected to trade in a lower range as key resistance is at 153.70. The pair has been capped by its descending 50-period moving average and remains under pressure...
UK Manufacturing Production Preview: What to expect of GBP/USD? UK manufacturing production numbers due for release today are likely show the output contracted in February. Manufacturing production is seen falling 0.2% m/m and 0.7% y/y. Meanwhile, industrial production is seen rising 0...
Analytics & Forecasts
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Roberto Jacobs, 8 April 2016, 09:29
USD Lacks Underlying Support - Westpac Richard Franulovich, Research Analyst at Westpac, suggests that a spike in risk aversion may save the USD on selected crosses near term but the beyond that the currency lacks underlying support...
Currency
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Roberto Jacobs, 8 April 2016, 09:27
GBP/USD Downside Risks on the Rise – UOB The research team at UOB Group has noted GBP faces risks of further downside in the near term...
Analytics & Forecasts
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Roberto Jacobs, 8 April 2016, 09:10
Elliott Wave Analysis of EUR/NZD for April 8 - 2016 Wave summary: We continue to look for upside acceleration and expect this will be seen once resistance at 1.6874 is overcome. In the longer term, we are looking for a strong rally in wave [iii] higher towards 1.8550...
Analytics & Forecasts
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Roberto Jacobs, 8 April 2016, 09:07
Elliott Wave Analysis of EUR/JPY for April 8 - 2016 Wave summary: We continue to look for a decline to 120.98 (red wave iii), where red wave iii will be 161.8% longer than red wave i. Once red wave iii is in place near 120...
Analytics & Forecasts
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Roberto Jacobs, 8 April 2016, 09:05
GBP/USD Turns Negative Near 1.4060, UK IP in Focus The GBP/USD pair is seen surrendering in the European morning, and drifts lower towards daily lows as markets remain wary ahead of the crucial UK industrial and manufacturing output numbers. GBP/USD losing sight of 1.41 handle...
Analytics & Forecasts
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Roberto Jacobs, 8 April 2016, 09:02
Riksbank Could Stay ‘On-Hold’ in April – Danske Bank According to Senior Analyst at Danske Bank Sverre Holbek, the Riksbank could stay put at its meeting later in the month...
Currency
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Roberto Jacobs, 8 April 2016, 09:00