Press review - page 378

Sergey Golubev
Moderator
113440
Sergey Golubev  

Technical Targets for GBP/USD by United Overseas Bank (based on the article)

GBP/USD: Ranging bearish

Daily price is located below 100-day SMA and 200-day SMA for the porimary bearish market condition with the secondary ranging: the price is ranging within 1.4247 resistance and 1.3835 support levels.

  • "We highlighted last Thursday (when spot was at 1.4085) that the corrective rebound could extend to 1.4230. This level was exceeded with a high of 1.4249 on Friday. With no sign of weakness just yet, the current recovery could extend further to 1.4400 (1.4300 is a strong resistance)."
  • "Only a move back below 1.4050 would indicate that the prevalent upward pressure has eased. Overall, the current movement is reminiscent of the price action in early February where the corrective rebound extended to 1.4672 before topping out."

RSI indicator is estimating the bearish trend to be continuing.  

  • If the price will break 1.4247 resistance level on close D1 bar so the local uptrend as the secondary rally will be started.
  • If price will break 1.3835 support on close daily bar so the bearish trend will be continuing.
  • If not so the price will be ranging within the levels.
Resistance
Support
1.42471.3835
1.4667N/A


  • Recommendation to go short: watch the price to break 1.3835 support level for possible sell trade
  • Recommendation to go long: watch the price to break 1.4247 resistance level for possible buy trade
  • Trading Summary: bearish
Sergey Golubev
Moderator
113440
Sergey Golubev  

EUR/USD Intra-Day Fundamentals: German Factory Orders and 25 pips range price movement

2016-03-07 07:00 GMT | [EUR - German Factory Orders]

if actual > forecast (or previous one) = good for currency (for EUR in our case)

[EUR - German Factory Orders] = Change in the total value of new purchase orders placed with manufacturers.

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"Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had decreased in January 2016 a seasonally and working-day adjusted 0.1% on December 2015. For December 2015, revision of the preliminary outcome resulted in a decrease of 0.2% compared with November 2015, particularly due to the subsequent report of a major order (primary —0.7%). In January 2016, domestic orders decreased 1.6%, while foreign orders increased by 1.0% on the previous month. As regards the direction of trade in foreign transactions, new orders from the euro area were up 7.5% on the previous month, while new orders from other countries decreased 2.7%."

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EURUSD M5: 25 pips range price movement by German Factory Orders news event :


Sergey Golubev
Moderator
113440
Sergey Golubev  

EUR/USD Intra-Day Fundamentals: China Trade Balance and 11 pips range price movement

2016-03-08 02:42 GMT | [CNY - Trade Balance]

  • past data is 63.29B
  • forecast data is 51.00B
  • actual data is 32.59B according to the latest press release

if actual > forecast (or previous one) = good for currency (for CNY in our case)

[CNY - Trade Balance] = Difference in value between imported and exported goods during the previous month.

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EURUSD M5: 11 pips range price movement by China Trade Balance news event :


Sergey Golubev
Moderator
113440
Sergey Golubev  

GBP/USD Intra-Day Fundamentals: BOE Gov Carney Speaks and 24 pips range price movement

2016-03-08 09:15 GMT | [GBP - BOE Gov Carney Speaks]

[GBP - BOE Gov Carney Speaks] = the speech is on United Kingdom's European Union membership before the Parliamentary Committee, in London.

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  • "The Bank of England will not tell people how to vote in the EU referendum in June, Governor Mark Carney said Tuesday."
  • "The bank will conduct analysis but it should not be considered as recommendations for or against Brexit, he told Treasury Committee."
  • "It will be important for the BoE to retain the flexibility and overall supervisory coherence necessary to meet its financial stability objectives, Carney wrote in a letter to Andrew Tyrie, chairman of Treasury Select Committee."

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GBPUSD M5: 24 pips range price movement by BOE Gov Carney Speaks news event :


Speeches and Articles | Bank of England
Speeches and Articles | Bank of England
  • www.bankofengland.co.uk
Speeches and articles by Bank staff can be found by selecting the 'Speaker' name from the drop-down list below. Speeches and articles pre-2013 can be found in the Archive section. Hard copies of speeches...
Sergey Golubev
Moderator
113440
Sergey Golubev  

GBP/USD Intra-Day Fundamentals: UK Manufacturing Production and 18 pips range price movement

2016-03-09 09:30 GMT | [GBP - Manufacturing Production]

if actual > forecast (or previous one) = good for currency (for GBP in our case)

[GBP - Manufacturing Production] = Change in the total inflation-adjusted value of output produced by manufacturers.

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"Total production is estimated to have increased by 0.3% between December 2015 and January 2016. There were increases in 3 of the 4 main sectors, with manufacturing (the largest component of production), having the largest positive contribution, increasing by 0.7%."


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GBPUSD M5: 18 pips range price movement by UK Manufacturing Production news event :


Sergey Golubev
Moderator
113440
Sergey Golubev  

Technical Targets for EUR/USD by United Overseas Bank (based on the article)

EUR/USD: bearish ranging within 1.09/1.10 levels for direction. Intra-day H4 price is located near and below 100 period SMA and 200 period SMA for the primary bearish market condition with the secondary ranging within 23.6% Fibo resistance level at 1.1003 and 61.8% Fibo resistance level at 1.0914.

  • "The outlook is still viewed as neutral and as mentioned in recent updates, only a strong daily closing above 1.1005/10 would indicate that EUR is ready to move higher."
  • "In the meanwhile, this pair is expected to trade sideways with 1.0900 and 1.1100 acting as key levels."

RSI indicator is estimating the bearish trend to be continuing.  

  • If the price will break 1.1003 resistance level on close H4 bar so the reversal of intra-day price movement from the primary bearish to the bullish market condition will be started.
  • If price will break 1.0914 support to below so the bearish trend will be continuing.
  • If not so the price will be ranging within the levels.
Resistance
Support
1.10031.0941
1.10571.0914


  • Recommendation to go short: watch the price to break 1.0914 support level for possible sell trade
  • Recommendation to go long: watch the price to break 1.1003 resistance level for possible buy trade
  • Trading Summary: ranging bearish
Sergey Golubev
Moderator
113440
Sergey Golubev  

USD/JPY Intra-Day Fundamentals: China CPI and 18 pips range price movement

2016-03-10 01:30 GMT | [CNY - CPI]

if actual > forecast (or previous one) = good for currency (for CNY in our case)

[CNY - CPI] = Change in the price of goods and services purchased by consumers.

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Consumer prices in China were up 2.3 percent on year in February, the National Bureau of Statistics said.

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USDJPY M5: 18 pips range price movement by China CPI news event :


Sergey Golubev
Moderator
113440
Sergey Golubev  

How to build a forex trading strategy that works (the article)


  • "Are you new in forex? Or have you been trading for a while?
  • No matter how long you have been trading, these resources on how to build a consistent and profitable trading strategy will be worthy.
  • The most important advice is that the key is comfort. No matter what strategy you use, you have to be comfortable with the system you chose. It has to fit your personality or style in order to last and be efficient. Also, having a personalized strategy will prevent a collapse that could bring more losses than profits."


Sergey Golubev
Moderator
113440
Sergey Golubev  

EUR/USD Intra-Day Fundamentals: German Trade Balance and 13 pips range price movement

2016-03-10 07:00 GMT | [EUR - German Trade Balance]

if actual > forecast (or previous one) = good for currency (for EUR in our case)

[EUR - German Trade Balance] = Difference in value between imported and exported goods during the reported month.

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"The foreign trade balance showed a surplus of 13.6 billion euros in January 2016. In January 2015, the surplus amounted to +15.9 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 18.9 billion euros in January 2016."

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EURUSD M5: 13 pips range price movement by German Trade Balance news event :


Press releases - Federal Statistical Office (Destatis)
  • www.destatis.de
German exports in January 2016: –1.4% on January 2015 Germany exported goods to the value of 88.7 billion euros and imported goods to the value of 75.2 billion euros in January 2016. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports declined by 1.4% while imports increased by 1.5% in January...
Sergey Golubev
Moderator
113440
Sergey Golubev  

EUR/USD Intra-Day Fundamentals: European Central Bank Minimum Bid Rate and 131 pips price movement

2016-03-10 12:45 GMT | [EUR - Minimum Bid Rate]

if actual > forecast (or previous one) = good for currency (for EUR in our case)

[EUR - Minimum Bid Rate] = Interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system.

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"At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:

(1) The interest rate on the main refinancing operations of the Eurosystem will be decreased by 5 basis points to 0.00%, starting from the operation to be settled on 16 March 2016.

(2) The interest rate on the marginal lending facility will be decreased by 5 basis points to 0.25%, with effect from 16 March 2016.

(3) The interest rate on the deposit facility will be decreased by 10 basis points to -0.40%, with effect from 16 March 2016."

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EURUSD M5: 131 pips price movement by European Central Bank Minimum Bid Rate news event :