Intra-day Technical Analysis - DAX Index: bullish ranging within 20-day high resistance and bearish reversal support (based on the article)
is on primary bullish market condition for the ranging within the following support/resistance levels:
"The 10100/00 area the market is springing to life
from holds critical if a higher low is to carve itself out. This area
has been in play since early March and continues to be important. A
strong showing today (it’s very early, but off to a good start) and
break above the Friday high will go a long way towards building the
bullish case for a break above the recent swing high at 10374 (5/31).
The higher low, higher high sequence from late May should then continue
to further itself up to the 4/21 high at 10486 and then possibly to a
new high 2016 high, reaching the trend-line running off the 2015 record
SUMMARY : ranging
USD/CNH Intra-Day Fundamentals: China Trade Balance and 23 pips price movement
2016-06-08 03:13 GMT | [CNY - Trade Balance]
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.
USD/CNH M5: 23 pips price movement by China Trade Balance news event
GBP/USD Intra-Day Fundamentals: U.K. Manufacturing Production and 37 pips price movement
2016-06-08 08:30 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.
"Total production output is estimated to have increased by 2.0% in April
2016 compared with March 2016. There were increases in 3 of the 4 main
sectors, with the largest contribution coming from manufacturing, which
increased by 2.3%, the largest rise since July 2012."
GBP/USD M5: 37 pips price movement by U.K. Manufacturing Production news event
U.S. Commercial Crude Oil Inventories
news event: intra-day ranging within narrow levels; daily bullish trend to 6-month high at 53.95 as a target
2016-06-08 14:30 GMT | [USD - Crude Oil Inventories]
[USD - Crude Oil Inventories] = Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.
commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) decreased by 3.2 million barrels from the previous
Crude Oil M5: ranging within 52.51 resistance and 51.98 support.
The price is on ranging within narrow levels located to be above 100 SMA/200 SMA reversal area for the bullish market condition.If the price breaks 52.51 resistance on close M5 bar so the primary bullish trend will be continuing.If the price breaks 51.98 support level to below on close M5 bar so the reversal of intra-day price movement to the primary bearish trend will be started on the secondary ranging way.
Crude Oil Daily: bullish trend to 6-month high at 53.95 as a target.
The price is located above 100 SMA/200 SMA reversal area for the primary bullish market condition: price is breaking 51.51 resistance level to above for 6-month high at 53.95 as a nearest bullish target to re-enter. If the price breaks 53.95 level to above so the bullish trend will be continuing with 55.54 possible target for breakout. If the price breaks 44.60 support level to below so the reversal of the price movement to the ranging bearish condition will be started. If not so the price will be moved within the channel for ranging bullish.
Trading News Events: Reserve Bank of New Zealand Official Cash Rate (adapted from the article)
M5 price is located above 100 period SMA and 200 period SMA for the bullish market condition: the price is on ranging within the following support/resistance levels:
If M5 price breaks 0.7000
support level to below on close bar so the reversal of the intra-day price movement from
the primary bullish to the primary bearish market condition will be
started.If M5 price will break 0.7053
resistance level on close bar so the bullish trend will be continuing.If not so the price will be on ranging within the levels.
Daily price is located above Ichimoku cloud and Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on Ichimoku chart. The price is breaking 0.6980 resistance level to above on daily open bar for 0.7053 level as the next bullish target to re-enter. Chinkou Span line is breaking the price to above for good possible breakout, and Absolute Strength indicator together with Trend Strength indicator are estimating the bullish trend to be continuing.
NZD/USD M5: 110 pips range price movement by RBNZ Official Cash Rate news event
price broke 0.7026/0.7053 resistance levels to above: the price is
testing 0.7137 resistance for the intra-day bullish trend to be
continuing. Besides, daily bar was opened to be above 0.7053 level which
is indicating the crossing it to above on close D1 bar for the daily
bullish trend continuation.
EUR/USD Fundamentals: ECB President Draghi Speaks and 10 pips ranging price movement; 1.1410 resistance level to be broken for the daily bullish trend continuation
2016-06-09 07:00 GMT | [EUR - ECB President Draghi Speaks]
[EUR - ECB President Draghi Speaks] = The speech at the Brussels Economic Forum.
"The objective of the ECB is defined as delivering a rate of inflation
below but close to 2% over the medium term. But the medium term is not a
fixed period of time. When faced with adverse shocks, the pace at which
monetary policy can bring inflation back to the objective depends on
two factors: the nature of the shock itself, and the conditions in which
monetary policy operates."
"Summing up, there is a large degree of interaction between monetary
policy and other policies that may in principle be geared towards
different objectives. Such interactions do not prevent a determined
central bank from achieving its objective. But they do affect the time frame
over which we can do so. What this implies is that, for stabilisation
to occur no more slowly than is strictly necessary, all policy areas
have a role to play."
EUR/USD M5: 10 pips ranging price movement by ECB President Draghi Speaks news event
Daily price is on primary bullish market condition for 1.1410 resistance level to be tested for the bullish trend to be continuing. Ascending triangle pattern was formed by the price to be crossed to above for the 1.1410 level to be broken for the bullish trend continuation with 30-day high at 1.1616 as a possible bullish target.
SUMMARY : bullish
GBP/USD Fundamentals: U.K. Goods Trade Balance and 12 pips price movement
2016-06-09 08:30 GMT | [GBP - Goods Trade Balance]
[GBP - Goods Trade Balance] = Difference in value between imported and exported goods during the reported month.
"The deficit on trade in goods was £10.5 billion in April 2016; narrowing
by £0.1 billion from March 2016. This narrowing reflected an increase
in exports (up £2.2 billion to £26.1 billion) and an increase in imports
(up £2.0 billion to £36.6 billion)."
GBP/USD M5: 12 pips price movement by Goods Trade Balance news event
==========GBP/USD Daily Technicals: ranging within 2-week high/low levels for direction
Daily price is on ranging between 100 SMA and 200 SMA reversal area waiting for direction within the following support/resistance levels:
Descending triangle pattern was formed by the price to be crossed for the bearish condition to be continuing.
USD/CAD Fundamentals: BOC Financial System Review and 34 pips price movement
2016-06-09 14:30 GMT | [CAD - BOC Financial System Review]
[CAD - BOC Financial System Review] = Assessment of conditions in the financial system and potential risks to financial stability.
USD/CAD M5: 34 pips price movement by BOC Financial System Review news event
==========USD/CAD Daily Technicals: 1.2654 support to be testing for 2-month low at 1.2460 as a nearest bearish target
Daily price is located below 100 SMA/200 SMA for the primary bearish market condition: the price is breaking 1.2654 support to below for the 2-month low at 1.2460 as a next bearish target
EUR/USD Fundamentals: U.K. Goods Trade Balance and 22 pips price movement
2016-06-10 07:00 GMT | [EUR - German Buba President Weidmann Speaks]
[EUR - German Buba President Weidmann Speaks] = The speech about monetary, financial, and fiscal stability at the Bundesbank Spring Conference, in Germany.
EUR/USD M5: 22 pips price movement by German Buba President Weidmann Speaks news event
==========EUR/USD Intra-Day Technicals: ranging near bearish/bullish reversal for direction
H4 price is located near 200 period SMA waiting for the direction for the bearish or bullish trend to be started. There are 3 main scenario for H4 price movement for today: