BNP Paribas: 2 Things To Look For At FOMC Minutes (based on efxnews article)
Chair Yellen is not speaking at the Jackson Hole Symposium this year:
Time To Turn Bullish On EUR - Credit Suisse (based on efxnews article)
EUR will be on bullish, and the main reason for CS to decide it is the
still-high risk that the ECB may have to re-enter the
easing fray down the line:
"For example, as Exhibit 2 shows, European inflation breakevens have
also been falling recently. With the ECB's credibility is on the line as
it proceeds with its QE program, it is hard to imagine it standing pat
for long and allowing sustained EUR strength to provide a fresh reason
for these indicators to push still lower."
By the way - EUR/USD was already turned to bullish in intra-day basis:
Technical Forecast For EUR/USD and NZD/USD by UBS Group (based on efxnews article)
UBS Group AG made technical forecast for EUR/USD,
USD/CHF and NZD/USD. This technical forecast may be valid for today and
tomorrow and related to the trading strategies which aee using UBS
itself for example.
EUR/USD: "We recommend playing a cautious long for a test of the
higher end of recent range of 1.0800-1.1200." As we see from the chart -
this long is already going on with 1.1461 as a final bullish target for
the end of the week. By the way, the more real intra-day target is
1.1213 which is intermediate resistance on the way to the bullish
breakout for example.
NZD/USD: "Look to establish fresh shorts between 0.6640
and 0.6750, with a stop above 0.6825, targeting a test of the low from
earlier this month." To say it shorter - UBS are waiting for the price
to be between 0.6640
and 0.6750 to open sell trade with stop loss above 0.6825. The real
targets in this case may be the following: 0.6496 and 0.6466. By the
way, this NZD/USD forecasting is more intra-day one than daily
technicals: as we see from the chart - the price is breaking symmetric
triangle pattern from below to above to go to 0.6648 where we can place a
sell order from.
The Case For Tactical EUR Rally; Where To Target? - Morgan Stanley (based on efxnews article)
Ongoing EUR rally projecting its potential target in the near-term along with its year-end target for the pair:
Gold Climbs to Six-And-A-Half-Week High (based on wsj article)
"An unexpected rally in gold prices that was sparked by yuan’s
devaluation last week gathered pace, propelling the precious metal to a
six-and-a-half week-high on Friday. Gold breached the near-term
resistance level of $1,150 per troy ounce, showing the price rally has
taken a firmer hold of markets than was being earlier anticipated. Spot
gold rose 1.25% from the opening price to an intra-day high of
$1,168.32/oz, the highest level since July 3. It is currently trading at
Forex Weekly Outlook August 24-28 (based on forexcrunch article)
The US dollar suffered in a week that saw doom and gloom in
global markets. Will this continue? German Ifo Business Climate, US CB
Consumer Confidence, US Durable Goods Orders and GDP data from the US
and the UK are the main highlights in Forex calendar. Join us as we
explore the market-movers for this week.
The Federal Reserve released its July meeting minutes,
revealing a dispute over the rate hike timing. Despite clear signals
from some Fed officials calling for a rate rise in September, many
policy makers still believe such a move is premature. In her capacity as
the chair and the leader, Janet Yellen will be the driving force behind
September’s decision. Will we see a rate hike in September? The chances
look more slim with growing worries about China and fresh political uncertainty about Greece.
The euro is clearly positioned as a safe haven currency and enjoys the
crisis, alongside the yen. Dollar longs are on the other end.
EUR - Fundamental Outlook for the Current Week by Morgan Stanley (based on efxnews article)
Morgan Stanley is considering the this is a good time to be with EUR forecasting bullish for the next few weeks:
"We believe EUR is likely to outperform over the next few weeks. The
risk-off environment is likely to drive repatriation flows, which should
be EUR supportive. In addition, many risky holdings were funded in EUR,
and the unwind of these positions should support EUR. With EUR not
being used as funder in the near term, it should receive support from
its current account surplus."
Let's evaluate this situation with technical points of vew:
EURUSD Forecasts by Danske Bank (based on efxnews article)
Danske Bank is forecasting the ranging market condition for EUR/USD up to August 2016: the price will be ranging between 100 day SMA and 200 day SMA within 1.10/1.13 support/resistance channel:
Thus, according to the Danske Bank - we should expect the bullish for daily EUR/USD only in the middle of the next year by the price to be turned to 1.15 which is located on the bullish area of daily chart.Concerning weekly price for this pair so the price will be in total ranging condition within the primary bearish: all support/resistance levels (incl 1.25 'reversal' resistance level which is on the border between bearish and bullish on the weekly chart) are located on the bearish zone. So, Danske Bank expects for the EUR/USd to be in bearish market condition in long term situation for example.
FOMC will raise rates in March 2016 - Barclays (based on efxnews article)
Barclays Capital made a conclusion that Fed rate hike will be March
2016. Barclays explained that FOMC can raise rates in December 2015 but
FOMC FOMC may push rate hike in Mrach because of volatility of the