Forex markets have seen some interesting trends recently, with the US Dollar maintaining most of its position of dominance throughout the year. There is strong fundamental reasoning behind this activity as the US continues to show the most progress in recovery after global financial markets hit their troughs in 2009. Labor markets have shown sustainable … “Stalling Dollar Creates New Opportunities in GOLD/USD”
Month: October 2015
EURUSD: Vulnerable Below The 1.1295/1.1318 Zone
EURUSD: Having EUR taken back almost all of its past week gains to close slightly lower, risk of a follow through to the downside is now developing. While the 1.1295/80 zone holds as overhead resistance, we look for weakness to occur. Support lies at the 1.1150 level where a violation will aim at the 1.1086 … “EURUSD: Vulnerable Below The 1.1295/1.1318 Zone”
GBPJPY Faces Bear Threats But With Caution
GBPJPY: The cross may remain weak and vulnerable to the downside but could head higher while holding above the 180.22/33 support area. Bull pressure is envisaged above that zone. On the downside, support comes in at the 181.00 level where a violation will aim at the 180.00 level. A break below here will target the … “GBPJPY Faces Bear Threats But With Caution”
Week Ends with Confusion on FX Market
The past trading week was very hard for traders. Market participants were reluctant to make important decision ahead of the major report from the United States, waiting for it to guide the market. Yet the market’s reaction to the report was confusing. The dollar had been relatively strong ahead of non-farm payrolls. Yet the employment data dashed hopes of dollar bulls, showing abysmal readings for employment and wage growth. At the same time, bears were … “Week Ends with Confusion on FX Market”
AUDUSD: Upside Price Rejection Leaves Risk Lower
AUDUSD: The pair rejected upside offensive to close marginally higher on a rejection candle on Thursday. It is now seen following through lower on bear pressure. On the downside, support resides at the 0.6950 level where a breach will aim at the 0.6900 level. Below that level will set the stage for a run at … “AUDUSD: Upside Price Rejection Leaves Risk Lower”
Yen Soft Even After NFP Send Market into Turmoil
The Japanese yen was very soft today following a bunch of mixed economic reports released from Japan during the Asian trading session. The currency had attempted to rise after the release of US non-farm payrolls, but the attempt has failed and the yen kept gains only versus the US dollar (as of now USD/JPY has actually bounced back to the opening level). Japan’s seasonally adjusted unemployment rate ticked up by 0.1 percentage … “Yen Soft Even After NFP Send Market into Turmoil”
US Dollar Sinks After Non-Farm Payrolls
The US dollar slumped after the release of US non-farm payrolls as the employment report turned out to be really terrible, clouding the outlook for timing of monetary tightening from the Federal Reserve. It is important to note that the currency is trying to fight back and is rising right now. Non-farm payrolls grew by 142,000 in September, nowhere near the predicted rate of growth of 201,000. What is more, the previous month’s increase was … “US Dollar Sinks After Non-Farm Payrolls”
Australian Dollar Gains on Japanese Yen, Less Successful vs. US Dollar
The Australian dollar ticked up against the Japanese yen during the Friday’s trading session due to positive macroeconomic data from Australia and the weakness of the Japanese currency. The Aussie was far less successful against the US dollar, trading close to the opening level. Australian retail sales rose 0.4 percent in August from July, in line with expectations. The indicator dropped 0.1 percent during the previous reporting period. The data helped the Aussie … “Australian Dollar Gains on Japanese Yen, Less Successful vs. US Dollar”
Pound Gains as Construction Accelerates
The Great Britain pound gained today after a report showed that UK construction accelerated last month, adding to positive data released earlier this week. The Markit/CIPS UK Construction Purchasing Managersâ Index climbed from 57.3 in August to 59.9 in September, far above the median forecast of 57.5. Released yesterday, the seasonally adjusted Markit/CIPS Manufacturing Purchasing Managersâ Index was at 51.5 in September, almost unchanged from August’s reading … “Pound Gains as Construction Accelerates”
JustForex presents WebTrader
JustForex launches a new web based platform which is intended to be simplified and answer needs of traders around the globe. Here is more information from the official press release: Aiming to meet the requirements of forex traders all over the world JustForex1 presents its new product – web trading platform WebTrader. We intend to … “JustForex presents WebTrader”