Technical Targets for AUD/USD by United Overseas Bank (based on the article)
AUD/USD: intra-day bullish ranging near bearish reversal
is located near and above 200
period SMA (200 SMA) for the bullish ranging near bearish reversal. The price is on ranging within the following key s/r levels:
United Overseas Bank is considering AUD/USD price to be
on ranging market condition:
"While shorter-term downward momentum has improved somewhat, it is
premature to expect a sustained down-move in AUD. The neutral phase that
started 2 days ago is still clearly intact and we continue to expect
AUD to trade within a broad 0.7260/0.7460 range for now."
GBP/USD Intra-Day Fundamentals: U.K. Jobless Claims and 34 pips price movement
2016-06-15 08:30 GMT | [GBP - Claimant Count Change]
if actual < forecast (or previous one) = good for currency (for GBP in our case)
[GBP - Claimant Count Change] = Change in the number of people claiming unemployment-related benefits during the previous month.
GBP/USD M5: 34 pips price movement by U.K. Jobless Claims news event
Pay Attention to These Words and Dots: Fed Decision (based on the article)
"...labor market conditions have improved further even as growth in
economic activity appears to have slowed." -- April 27 FOMC statement
"The Fed’s so-called “dot plot,” released alongside
the statement with quarterly economic forecasts, shows the pace of
interest-rate increases that central bank officials expect will be
warranted. In March, the median projection fell to two quarter-point
hikes this year, versus a prior expectation for four."
"The Committee continues to closely monitor inflation indicators and global economic and financial developments." -- April 27 statement
Inflation Expectations"Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance, in recent months." -- April 27 statement
Actual Inflation"Inflation is expected to remain low in the near term, in part because of earlier declines in energy prices, but to rise to 2 percent over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further." -- April 27 statement
USD/CAD Intra-Day Fundamentals: Canada's Manufacturing Shipments and 18 pips range price movement
2016-06-15 12:30 GMT | [CAD - Manufacturing Sales]
if actual > forecast (or previous one) = good for currency (for CAD in our case)
[CAD - Manufacturing Sales] = Change in the total value of sales made by manufacturers.
USD/CAD M5: 18 pips range price movement by Canada's Manufacturing Shipments news event
Trading News Events: Federal Open Market Committee Interest Rate Decision (adapted from the article)
EURUSD D1: secondary correction to the possible ranging bearish reversal. The daily price is located above 200 SMA for the bullish market condition: the price is breaking 100 SMA together with 61.8% Fibo support level at 1.1203 to below to be reversed from the primary bullish to the ranging market condition. The bearish reversal level is 1.1070 located near 200 SMA so if the price breaks this level to below - the bearish reversal will be started. Alternative, if the price breaks 1.1415 resistance to above so the bullish trend will be resumed.
Anyway, the RSI indicator is estimating the secondary correction to be continuing for the price to the ranging zone.
U.S. Commercial Crude Oil Inventories
news event: intra-day ranging bullish within 100 SMA/200 SMA reversal area
2016-06-15 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 0.9 million barrels from the previous
Crude Oil M5: ranging bullish.
The price broke 100 SMA/200 SMA area to above to be reversed to the primary bullish market condition. The price was bounced from Fibo resistance at 49.64 for the ranging to eb started within the following support/resistance levels:
Crude Oil H4: ranging within narrow 100 SMA/200 SMA levels.
The price is located within 100 SMA/200 SMA area and near above 200 SMA for the ranging bullish market condition.If the price breaks Tuesday high at 50.02 to above so the bullish trend for intra-day price movement will be resumed. If the price breaks 48.80 support level to below so the reversal of the price movement to the primary bearish condition will be started. If not so the price will be moved within the channel for ranging.
EUR/USD Intra-Day Fundamentals: Federal Funds Rate and 33 pips range price movement
2016-06-15 18:00 GMT | [USD - Federal Funds Rate]
if actual > forecast (or previous one) = good for currency (for USD in our case)
[USD - Federal Funds Rate] = Interest rate at which depository institutions lend balances held at the
Federal Reserve to other depository institutions overnight.
"Against this backdrop, the Committee decided to maintain the target
range for the federal funds rate at 1/4 to 1/2 percent. The stance of
monetary policy remains accommodative, thereby supporting further
improvement in labor market conditions and a return to 2 percent
EUR/USD M5: 33 pips range price movement by Federal Funds Rate news event
AUD/USD Intra-Day Fundamentals: Australian Employment Change and 57 pips range price movement
2016-06-16 01:30 GMT | [AUD - Employment Change]
if actual > forecast (or previous one) = good for currency (for AUD in our case)
[AUD - Employment Change] = Change in the number of employed people during the previous month.
AUD/USD M5: 57 pips range price movement by Australian Employment Change news event
Traders are left to wonder how many times the Fed may hike rates in 2016, if at all (adapted from the article)
From the technical points of view - the EUR/USD H4 price was bounced from 1.1189 bearish support level by 100 SMA level breaking to above: the price is testing Tuesday's high at 1.1297 to be reversed to the bullish market condition.
If the price breaks 1.1297 resistance on close H4 bar so the reversal of the intra-day price movement from the bearish to the primary bullish market condition will be started.if the price breaks 1.1189 support to below so the primary bearish trend will be resumed.If not so the price will be ranging within 100 SMA/200 SMA ranging reversal area for direction.