D1 price is on bearish market condition trying to break 1.3516 support level for the bearish to be continuing.
is ranging between 1.3535 resistance and 1.3490 support levels since the middle of the last week.
UPCOMING EVENTS (high/medium impacted news events which may be affected on EURUSD price movement for this coming week)
2014-07-21 06:00 GMT (or 08:00 MQ MT5 time) | [EUR - German PPI]
2014-07-21 10:00 GMT (or 12:00 MQ MT5 time) | [EUR - German Buba Monthly Report]
2014-07-22 12:30 GMT (or 14:30 MQ MT5 time) | [USD - CPI]
2014-07-22 14:00 GMT (or 16:00 MQ MT5 time) | [USD - Existing Home Sales]
2014-07-24 01:45 GMT (or 03:45 MQ MT5 time) | [CNY - HSBC Manufacturing PMI]
2014-07-24 06:00 GMT (or 08:00 MQ MT5 time) | [EUR - Spanish Unemployment Rate]
2014-07-24 07:00 GMT (or 09:00 MQ MT5 time) | [EUR - French Manufacturing PMI]
2014-07-24 07:30 GMT (or 09:30 MQ MT5 time) | [EUR - German Manufacturing PMI]
2014-07-24 08:00 GMT (or 10:00 MQ MT5 time) | [EUR - Manufacturing PMI]
2014-07-24 14:00 GMT (or 16:00 MQ MT5 time) | [USD - New Home Sales]
2014-07-25 06:00 GMT (or 08:00 MQ MT5 time) | [EUR - GfK German Consumer Climate]
2014-07-25 08:00 GMT (or 10:00 MQ MT5 time) | [EUR - German Ifo Business Climate]
2014-07-25 12:30 GMT (or 14:30 MQ MT5 time) | [USD - Durable Goods Orders]
SUMMARY : bearish
TREND : ranging
Forum on trading, automated trading systems and testing trading strategies
newdigital, 2014.07.20 11:42
newdigital, 2014.07.20 11:47
newdigital, 2014.07.22 10:44
Trading the News: U.S. Consumer Price Index (CPI) (based on dailyfx article)
The U.S. Consumer Price Index (CPI) may spur a bullish reaction in the
U.S. dollar (bearish EUR/USD) should the report undermine the Fed’s
dovish outlook for monetary policy.
Why Is This Event Important:
Sticky price growth in the world’s largest economy may heighten the
appeal of the greenback as it puts increased pressure on the Federal
Reserve to move away from its easing cycle, and the next policy meeting
on July 30 may generate an improved outlook for the reserve currency
should a growing number of central bank officials show a greater
willingness to normalize monetary policy sooner rather than later.
Higher input costs along with the pickup in wage growth may generate
another stronger-than-expected inflation print, and an unexpected uptick
in the CPI may fuel a near-term rally in the USD as it boosts interest
However, the persist slack in the real economy paired with the slowdown
in private sector consumption may drag on price growth, and a weak
inflation print may heighten the bearish sentiment surrounding the
greenback as it gives the Fed greater scope to retain its highly
accommodative policy stance for an extended period of time.
How To Trade This Event Risk
Bullish USD Trade: Headline Reading for Inflation Climbs 2.1% or Greater
EURUSD M5 : 33 pips price movement by USD - CPI news event
The headline reading for U.S. inflation unexpectedly climbed to an
annualized 2.1% in May to mark the fastest pace of growth since October
2011, while the core Consumer Price Index (CPI) advance to 2.0% amid
forecasts for 1.9% print. The stronger-than-expected print sparked a
bullish reaction in the reserve currency, with the EUR/USD slipping
below the 1.3550 region, and the greenback retained the gains throughout
the North American session as the pair ended the day at 1.3545.
EURUSD M5 : 37 pips range price movement by USD - CPI news event :
newdigital, 2014.07.20 18:53
newdigital, 2014.07.23 16:43
2014-07-23 14:00 GMT (or 16:00 MQ MT5 time) | [EUR - Consumer Confidence]
if actual > forecast = good for currency (for EUR in our case)
[EUR - Consumer Confidence] = Level of a diffusion index based on surveyed consumers. Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity
Eurozone Consumer Confidence Unexpectedly Falls In July
Euro area consumer confidence deteriorated for a second straight
month in July, preliminary data from the European Commission showed
The flash consumer confidence index for Eurozone fell
to -8.4 from -7.5 in June. Economists had forecast the score remain
The confidence index for the EU declined by 1.2 points to -5.5.
The final figures will be released along with the economic sentiment data on July 30.
EURUSD M5 : 8 pips range price movement by EUR - Consumer Confidence news event :
newdigital, 2014.07.24 15:20
2014-07-24 12:30 GMT (or 14:30 MQ MT5 time) | [EUR - Unemployment Claims]
if actual < forecast = good for currency (for USD in our case)
[EUR - Unemployment Claims] = The number of individuals who filed for unemployment insurance for the first time during the past week. Although it's generally viewed as a lagging indicator, the number of
unemployed people is an important signal of overall economic health
because consumer spending is highly correlated with labor-market
conditions. Unemployment is also a major consideration for those
steering the country's monetary policy.
Also Called = Jobless Claims, Initial Claims.
The European Union is stronger today because of U.K 's contribution
to it, European Central Bank's Jens Weidmann said in his speech at the
annual dinner of the German-British Chamber of Industry & Commerce.
"The European economy is more open and dynamic as a result of Britain's commitment to open and flexible markets - a position very much in tune with the Bundesbank's" he said.
The European Union, or EU, membership has also benefited Britain, he added.
of its trade is with the European Union, and studies suggest that EU
membership has boosted Britain's trade in goods with other EU countries
by more than 50 %"
Stressing on the need for a single market, he
said, "A lot of the potential inherent in our most important European
catalyst for growth, the single market, is still untapped."
in particular, with its advanced services sector stands to gain from
dismantling the existing barriers to cross-border trade in services.",
Also, the digital markets should be integrated into a single market, he added.
about the vulnerabilities that will arise due to the integration , "a
combination of this kind gives rise to a deficit bias, as it allows the
costs of fiscal imprudence to be shifted partially on to others. An
unsustainable fiscal situation in one country has repercussions for
monetary union as a whole. You can compare this to what economists call
the "tragedy of the commons".", he said.
"Just as overfishing
creates negative externalities for other countries, excessive public
debt harms the euro area as a whole. Excessive debt in one member state
drives up longer-term interest rates for all euro-area countries."
second, each member state issues debt in a currency it cannot create.
Hence, a high level of fiscal discipline is needed to ensure that
solvency concerns do not spiral out of control." he added.
a sustainable fiscal framework and consolidating public budgets are
only two of the numerous challenges facing the euro area in becoming
more stable." he noted.
"Equally important is to correct
macroeconomic imbalances - through the restoration of competitiveness in
those countries that have fallen behind and through a further reduction
of indebtedness in the private sector there."
Further work has to done with respect to financial regulation, not just in the euro area, but globally, Weidmann said.
key objectives in this respect are: spelling out international
standards on the loss-absorbing capacity of systemically important
banks, achieving cross-border acceptance of a bank resolution, peer
reviewing measures regulating the shadow banking sector and establishing
saver derivative markets."
Stressing on the importance of Britian
being a member of the euro area, he concluded, "If Britain continues to
make its voice heard in Europe, I am confident that the Union will
become more outward-looking, open and prosperous for that."
MetaTrader Trading Platform Screenshots
EURUSD, M5, 2014.07.24
MetaQuotes Software Corp., MetaTrader 5, Demo
EURUSD M5 : 8 pips price movement by USD - Unemployment Claims news event
newdigital, 2014.07.25 06:50
EUR/USD Technical Analysis (based on dailyfx article)
newdigital, 2014.07.25 10:46
[EUR - GfK German Consumer Climate] = This survey is highly respected due to its large sample size and
historic correlation with German and wider Eurozone economic conditions.
It tends to create a hefty market impact upon release. Source changed
series from a base year of 2000 to a base year of 2005 as of May 2011. It's a leading indicator of economic health - businesses react quickly
to market conditions, and changes in their sentiment can be an early
signal of future economic activity such as spending, hiring, and
German Ifo Business Confidence Declines More Than Expected In July
confidence declined for a third successive month in July and at a
faster-than-expected pace, reports said Friday, citing the survey
results from the Ifo Institute.
The Ifo Business Climate Index
fell to 108, which was worse than the 109.4 score forecast by
economists. In June, the index had eased to a six-month low of 109.7.
current conditions index dropped to 112.9, also much below economists'
expectations for a print of 114.5. In June, the reading was 114.8.
expectations measure declined to 104.5, which was slightly above the
consensus estimate of 104.4. In June, the score was 104.8.
EURUSD, M5, 2014.07.25
EURUSD M5 : 21 pips price movement by EUR - German Ifo Business Climate news event