Atlas CapitalFx Posted November 2, 2015 Author Report Share Posted November 2, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 02.11.2015 The start of a busy week of financial data began on Sunday with news out from China. The Chinese Federation of Logistics and Purchasing (CFLP) published data that indicated that the manufacturing sector is still declining. According to the latest release, the Manufacturing PMI for October stood at 49.8. The market had expected a slight increase to the 50.0 level. As PMI readings that are higher than 50.0 indicate an expansion in the manufacturing sector, the release of yesterday’s number which was below the 50.0 mark does reinforce the current negative view analysts have of the Chinese economy. However, that yesterday’s release was in line with data for September does give those looking for signs of stabilization that a floor has been put under what has been a savage contraction. This view has gained some ground this morning with the independent Caixin Manufacturing PMI that is released by Markit indicated that there was a slight uptick. The actual number for this morning Caixin Manufacturing PMI being 48.3 against a forecast of 47.7 and prior 47.2. The mixed data with respect to the Chinese Manufacturing will most probably force the Chinese authorities to take further measures that will help create a bottom and stabilizes this country’s economy. In other news, PMI surveys dominate today’s releases. Japan this morning releases its monthly Final Manufacturing PMI. The latest release was reported as 52.4 beat the consensus forecast of 52.1 but was slightly below Septembers reading of 52.5. Across to Europe, Spanish Manufacturing PMI disappointed with the actual of 51.3 missing the 51.9 forecast and 51.7 prior release. However, there was better news from Switzerland which saw an expansion in the manufacturing sector with the latest report reported as 50.7. The October number was a strong beat on the 50.2 actual and 49.5 September reading. As I write, PMI data will be released shortly for Italy, Germany, France and the Euro-Area and later today, we have PMI data from the UK and the USA. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH102112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.1134 Target 2: 1.0932 Projected range in ATR’s: 0.0101 Daily control level: 1.1095 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH102112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.5543 Target 2: 1.5347 Projected range in ATR’s: 0.0098 Daily control level: 1.5240 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH102112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 121.25 Target 2: 119.53 Projected range in ATR’s: 0.86 Daily control level: 120.00 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH102112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.9931 Target 2: 0.9767 Projected range in ATR’s: 0.0082 Daily control level: 0.9815 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH102112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.3185 Target 2: 1.2960 Projected range in ATR’s: 0.0115 Daily control level: 1.3190 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH102112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7190 Target 2: 0.7036 Projected range in ATR’s: 0.0078 Daily control level: 0.7079 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH102112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1156.00 Target 2: 1127.00 Projected range in ATR’s: 14.70 Daily control level: 1150.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH102112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 48.00 Target 2: 45.00 Projected range in ATR’s: 1.41 Daily control level: 45.85 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 3, 2015 Author Report Share Posted November 3, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 03.11.2015 Since the lows of August, the Exxon Mobil Corporation has seen its stock value rally off the lows it touched back in the summer. In August, Exxon Mobil traded down to the US$ 66.50 area, however, this morning after what was a strong Monday trading, has seen this company’s stock value move above US$ 85.00. The Exxon Mobil Corporation is public traded on the New York Stock Exchange as is a key component of the Dow 30. Being the fifth largest company in terms of revenue and the third largest company in terms of market capitalization, the Exxon Mobil Corporation is seen as an important bellwether on the health of the United States equity market, the petrol chemicals sector and the Crude Oil market. Following Friday’s better than expected third quarter earnings release the value of Exxon Mobil’s share price has experienced a large increase. Furthermore, the rally that Exxon Mobil has experienced since August has seen the price action from a technical aspect put in place certain key indications which could imply that a significant low has created for the price of this stock. As Exxon Mobil is such a dominant player in the petroleum sector, a reversal of sentiment from bearish to bullish could also indicate that the downtrend in the value of both WTI and Brent may be coming to an end. The price action during the month of October has been significant in that Exxon Mobil has seen its share price accelerate higher as if it was a hot knife through butter as it slashed through is 50 and 100-period simple moving averages. Of greater significance as that the price action has now broken through the key 200 periods daily moving average. As the 200-period moving average is used as an indicator by longer term investors to ascertain if an instrument is in bull or bear territory the breach of this average during yesterday’s trading would have been noted with interest. Of further significance was that the share price of Exxon mobile was able to breach and close above the downtrend line that has defined the bearish trend that began back in July of 2014. Finally, the share price of Exxon Mobil has been able to break above all key Fibonacci levels with little sign of resistance. A continuation of the move higher could see the May 5 high of US$ 90.07 being tested. A breach of the US$90.07 level is important as it would turn the very long term weekly cycle from a technical perspective from down to up. If we switch to a chart of OILUSD, the trend continues to point in a downward direction. However, the repeated breaches of the downtrend line could potentially indicate that base is being formed. However, confirmation is required and this will be given if OILUSD can trade above its 200 periods daily SMA and the prior swing high of October 8 at the US$ 51.30 level. We also have a similar scenario for Brent. In this case, there does seem to be a concerted effort to stay above the now broken downtrend line. To end, the price action for Exxon Mobil is giving us clues on the future direction of price action for both WTI and Brent. However, we do need to see some follow-through in terms of price action confirmation before we can say with any certainty that a solid floor has been put in place EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH103112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.1105 Target 2: 1.0920 Projected range in ATR’s: 0.0096 Daily control level: 1.1075 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH103112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.5495 Target 2: 1.5325 Projected range in ATR’s: 0.0087 Daily control level: 1.5240 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH103112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 121.55 Target 2: 119.95 Projected range in ATR’s: 0.81 Daily control level: 120.25 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH103112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 0.9935 Target 2: 0.9780 Projected range in ATR’s: 0.0079 Daily control level: 0.9890 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH103112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.3200 Target 2: 1.2985 Projected range in ATR’s: 0.0110 Daily control level: 1.3115 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH103112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7215 Target 2: 0.7065 Projected range in ATR’s: 0.0077 Daily control level: 0.7100 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH103112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1146.00 Target 2: 1120.00 Projected range in ATR’s: 13.31 Daily control level: 1150.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH103112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 48.00 Target 2: 45.00 Projected range in ATR’s: 1.42 Daily control level: 45.85 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 4, 2015 Author Report Share Posted November 4, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 04.11.2015 Yesterday in Frankfurt during an event that celebrated the European Cultural Day, the European Central Bank President, Mr. Mario Draghi gave the clearest indication yet that he and his colleagues on the Governing Council could launch an expanded stimulus programme as early as next month. ECB President Draghi told reporters “Even though domestic demand remains resilient, concerns over growth prospects in emerging markets and other external factors are creating downside risks to the outlook for growth and inflation.” Draghi went on to add “In this context, the degree of monetary policy accommodation will need to be re-examined at the Governing Council’s December meeting.” “The Governing Council is willing and able to act by using all the instruments available within its mandate if warranted in order to maintain an appropriate degree of monetary accommodation.” His comments at what was meant to be a fairly low-key event is a clear sign that the European Central Bank is going to act in December. The question of timing is of course as always key. As had happened in September, the next key meeting for the ECB will take place before the United States Federal Reserve announces their next move. With the possibility of the FOMC deciding in increased rates in December, is it really necessary for the ECB to act so soon? If the Fed hikes, this will be a stimulus in itself and have a greater effect than the ECB expanding its own QE programme. However, Mario Draghi does not have the luxury that allows him to second guess the outcome of the FOMC meeting. The ECB may, therefore, move anyway and increase stimulus independently of any FOMC decision. The ECB indicated that they have many options to explore and implement. These include: A cut in the deposit rate. A faster pace of asset purchases. Expand what can be purchased. All these measures will, of course, have the effect of weakening the euro which will help support growth by expanding exports. Furthermore, the cheaper Euro will also act as a tool that increases inflation through imports. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH104112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.1045 Target 2: 1.0865 Projected range in ATR’s: 0.0094 Daily control level: 1.0500 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH104112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.5500 Target 2: 1.5335 Projected range in ATR’s: 0.0086 Daily control level: 1.5445 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH104112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 121.80 Target 2: 120.30 Projected range in ATR’s: 0.79 Daily control level: 120.60 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH104112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.9950 Target 2: 0.9850 Projected range in ATR’s: 0.0079 Daily control level: 0.9835 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH104112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.3170 Target 2: 1.2950 Projected range in ATR’s: 0.0111 Daily control level: 1.3165 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH10411215.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7255 Target 2: 0.7115 Projected range in ATR’s: 0.0073 Daily control level: 0.7110 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH104112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1131.00 Target 2: 1103.00 Projected range in ATR’s: 13.78 Daily control level: 1138.55 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH104112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 49.75 Target 2: 46.80 Projected range in ATR’s: 1.47 Daily control level: 46.65 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 5, 2015 Author Report Share Posted November 5, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 05.11.2015 During yesterday’s afternoon testimony to the House Financial Services Committee in Washington D.C, the Federal Reserve chairwoman laid out the case for an increase in the Federal Funds rate taking place on December 15-16. In an interesting debate, Mr. Brad Sherman who is affiliated to the Democratic Party and a member of the United States House of Representatives for the state of California championed the need for delaying a rate increase until the Spring of 2016. However, the line Mr. Sherman took was a somewhat unorthodox line as he called on the guidance of a higher authority in the form of God. Sherman said. “God’s plan is that things rise in the spring, and so if you want to be good with the Almighty, you might want to delay until May.” Yellen’s, however, ignored for calls of divine intervention by saying. “What the committee has been expecting is that the economy will continue to grow at a pace that is sufficient to generate further improvements in the labour market and to return inflation to our 2% percent target over the medium term. If the incoming information supports that expectation then our statement indicates that December would be a live possibility”. Although Mr. Sherman’s comments might seem as an interesting sideshow to the real debate that is now taking place over the timing of the first interest-rate increase, the comments expressed by this politician does in some way highlight the divisions in opinion that is currently gripping the financial markets and to some extent the Federal Reserve Open Market Committee. Janet Yellen is, of course, trying to prepare the ground for a rate increase. In itself, a more hawkish tone that was adopted yesterday will cushion the blow when rates do eventually increase. The market is currently pricing a 50 / 50 coin toss chance that the FOMC will increase rates in December. However, we do have a lot a data to come before the committee members have to make their decision. If we see an improvement in data then the possibility of a rate increase will be enhanced. We will get out first clues tomorrow afternoon when the Bureau of Labor Statistics publishes the latest job numbers with the Non-Farm Payrolls and Average Hourly Earnings as always being of paramount importance. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH105112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0960 Target 2: 1.0770 Projected range in ATR’s: 0.0098 Daily control level: 1.1050 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH105112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.5470 Target 2: 1.5250 Projected range in ATR’s: 0.0088 Daily control level: 1.5445 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH105112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 122.30 Target 2: 120.80 Projected range in ATR’s: 0.76 Daily control level: 120.60 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH105112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.000 Target 2: 0.9850 Projected range in ATR’s: 0.0080 Daily control level: 0.9800 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH105112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3265 Target 2: 1.3030 Projected range in ATR’s: 0.0116 Daily control level: 1.3050 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH105112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7215 Target 2: 0.7100 Projected range in ATR’s: 0.0072 Daily control level: 0.7110 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH105112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1121.00 Target 2: 1093.00 Projected range in ATR’s: 14.15 Daily control level: 1138.55 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH105112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 48.65 Target 2: 45.60 Projected range in ATR’s: 1.53 Daily control level: 48.85 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 6, 2015 Author Report Share Posted November 6, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 06.11.2015 Yesterday lunch time the Bank of England announced that they would keep their Official Bank Rate on hold at 0.50%. The decision by the Monetary Policy Committee in favour of not moving to increase interest rates from the current levels was in line with expectations. The official voting for the Bank Rate of 1-0-8 was also in line with expectations. The lone dissenter on the Bank of England Monetary Policy Committee was once again Ian McCafferty. Mr. McCafferty argued in favour of increasing interest rates by 25 basis points from 0.50% that they have stood at since March 2009 to 0.75%. However, what did surprise the markets, was both the Bank of England Inflation Report and the subsequent press conference which conveyed a message that was extremely doveish. The Bank of England released some forecasts and revisions which were more or less in line with previous releases. The Bank of England, however, did emphasize downside risk to inflation and assumed an interest rate of only 0.8% in early 2017. This is due to concerns surrounding global growth. This is in stark contrast to the Federal Reserve which removed external country factors which have been identified in China, the Emerging Markets and closer to home in the Euro-Area. This news sent traders long of the British Pound looking for cover as Cable crashed and EURGBP rallied. Until recently, many commentators argued for and some expected the Bank of England to move on interest rates before Janet Yellen and her colleagues on the FOMC took action of their own. However, the doveish surprise that was delivered yesterday has seemingly ended this scenario. With the Federal Reserve poised to increase its own Fed Funds interest rate, the divergence between the British and United States interest rate forward forecasts has become very apparent. This divergence between the United States and United Kingdom interest rate expectations if confirmed by a December lift off by the FOMC has the potential to drive down Cable to levels below 1.5000. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH106112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0975 Target 2: 1.0790 Projected range in ATR’s: 0.0097 Daily control level: 1.1050 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH106112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.5300 Target 2: 1.5100 Projected range in ATR’s: 0.0098 Daily control level: 1.5400 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH106112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 122.50 Target 2: 121.00 Projected range in ATR’s: 0.78 Daily control level: 120.60 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH106112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0000 Target 2: 0.9865 Projected range in ATR’s: 0.0080 Daily control level: 0.9880 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH106112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3275 Target 2: 1.3060 Projected range in ATR’s: 0.0109 Daily control level: 1.3140 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH106112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7215 Target 2: 0.7070 Projected range in ATR’s: 0.0072 Daily control level: 0.7125 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH106112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1118.00 Target 2: 1090.00 Projected range in ATR’s: 14.26 Daily control level: 1111.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH106112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 47.60 Target 2: 44.50 Projected range in ATR’s: 1.51 Daily control level: 47.20 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 9, 2015 Author Report Share Posted November 9, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 09.11.2015 Friday’s stunning United States Jobs Report saw both the Average Earning and Non-Farm Payrolls numbers catch many traders. This latest news has greatly increased the odds of the US Federal Reserve moving on rates at this coming December meeting. Unless the December Jobs Report turns out to be a complete disaster, many market participants now expect that the FOMC Chairwoman, Janet Yellen, and her colleagues will increase the Fed Funds rate by 25 bp. The certainty that such an event will happen has highlighted the growing divergence between the Federal Reserve and its counterpart across the globe which are either increasing stimulus or being extremely reticence in indicating when rates will increase. The contrast is so obvious across the Atlantic in London. Mark Carney, the Bank of England Governor only last week was very clear in his views that the UK was somewhat far away from moving on interest rates. Not so long ago, there was much discussion on the Bank of England moving on rates before the US Federal Reserve. However, it is now very obvious that the Bank of England will take a patient line and allow the US to move ahead on rates before any move on tightening is made. Last week’s events reinforce the view that the US greenback, despite the huge debt burden of the Federal Government will continue to be the world’s reserve currency of choice and that the US Federal Reserve is the leading central bank. Time will tell if another currency can claim the US Dollar’s Crowne, but it would appear that this possibility is many economic cycles away. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH109112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0835 Target 2: 1.0620 Projected range in ATR’s: 0.0108 Daily control level: 1.0900 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH109112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.5160 Target 2: 1.4940 Projected range in ATR’s: 0.0108 Daily control level: 1.5400 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH109112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 124.10 Target 2: 122.45 Projected range in ATR’s: 0.86 Daily control level: 120.60 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH109112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0130 Target 2: 0.9965 Projected range in ATR’s: 0.0084 Daily control level: 0.9880 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH109112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3415 Target 2: 1.3190 Projected range in ATR’s: 0.0114 Daily control level: 1.3140 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH091112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 0.7200 Target 2: 0.6950 Projected range in ATR’s: 0.0077 Daily control level: 0.7170 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH109112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1104.00 Target 2: 1074.00 Projected range in ATR’s: 15.05 Daily control level: 1111.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH109112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 46.60 Target 2: 43.60 Projected range in ATR’s: 1.54 Daily control level: 46.35 Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 10, 2015 Author Report Share Posted November 10, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 10.11.2015 The Organisation for Co-operation and Development in its latest update for Global GDP has cut its forecast from 3.0% to 2.9%. The OECD has also raised fears that the slowdown in growth is now pushing the international economy close to levels which would signal a global recession. China was highlighted as a main reason behind the drop off in GDP as it sighted that reduction in demand for imported commodities was affecting neighbouring Asian nations. However, the OECD sounded more optimistic for 2016 and 2017 as it predicted a pickup in growth. The OECD identified that stimulus measures were taken by China and other countries as the main reason why it predicted that there would be a bounce next year. The OECD decided to add its say on the debate with respect to United States interest rates and called upon the Federal Reserve to go ahead with its expected increase in the Fed Funds rate this coming December. A move to increase the US benchmark interest rate by 25 bp would be the first step in nominalizing the interest rate environment. A December move by the FOMC would come at a time when there are real signs that the United States economic recovery is taking off. These signs of positive growth were highlighted last Friday when the US Department of Labor Statistics published extremely strong Jobs Report with both the Non-Farm Payrolls and Average Hourly Earnings releases beating estimates by a wide margin. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH110112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0850 Target 2: 1.0640 Projected range in ATR’s: 0.0108 Daily control level: 1.0900 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH110112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.5220 Target 2: 1.5005 Projected range in ATR’s: 0.0108 Daily control level: 1.5400 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH110112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 124.00 Target 2: 122.25 Projected range in ATR’s: 0.88 Daily control level: 120.60 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH110112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0150 Target 2: 0.9950 Projected range in ATR’s: 0.0083 Daily control level: 0.9880 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH110112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3390 Target 2: 1.3180 Projected range in ATR’s: 0.0105 Daily control level: 1.3140 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH110112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 0.7115 Target 2: 0.6970 Projected range in ATR’s: 0.0074 Daily control level: 0.7170 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH1101120151.png The intraday technical outlook Trend 1 hour: Down Target 1: 1106.00 Target 2: 1077.00 Projected range in ATR’s: 14.28 Daily control level: 1111.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH110112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 46.00 Target 2: 43.50 Projected range in ATR’s: 1.54 Daily control level: 45.95 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 11, 2015 Author Report Share Posted November 11, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 11.11.2015 China has announced that it wants to enhance the international profile of its currency the Yuan. It plans to do this by upgrading the status of its currency by having the Chinese Yuan included into the basket of currencies that make up the International Monetary Fund, Foreign Exchange Reserve Assets. The IMF Reserve Assets, also known as the Special Drawing Rights was created in 1969 and initially included the US Dollar, British Pound, French Franc, German Deutschmark and Japanese Yen. However with the launch of the single European currency, both the German and French participations were replaced by the Euro. The SDR is not a currency, however, it is an important tool used by the IMF so as to help maintain global macroeconomic stability. The SDR can be used for instance during times when liquidity and credit in the market dry up such as the case of the 2008 crisis. Apart from the obvious kudos for China that comes with becoming a component part of the IMF’s, SDR basket, there is also another factor why the second largest global economy would like to be a member of this very exclusive club. China for some time has strived to reform its economy and evolve it from being the factory of the planet to become a modern global economy with a lower but a more sustainable growth model. It is, therefore, a fairly obvious requirement that one of the world’s most important economies becomes a member of this foreign exchange based stability mechanism. As the IMF carries out a review every five years and with the next review due to take place, China sees it vital to its interest that it is currency joins the SDR basket. Although such a move would be very much symbolic due to the restrictive nature of the current Chinses financial system, it will be however a step towards normalizing China’s economy and bring it in line with the other developed nations. There are risks if other members, most notably the United States blocks Chinese entry into the IMF SDR programme. Such a move could antagonise the Chinese political establishment who will see this as an embarrassing slap in the face. A rejection by the IMF could, therefore, see the Chinese Government decide to go it alone and chart their own course with other partners such as Russia and Brazil. If, however, the Yuan is accepted into the SDR basket, the Chinese Government will have to show concrete willingness to allow the Yuan to move freely and in line with market forces EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH111112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0820 Target 2: 1.0630 Projected range in ATR’s: 0.0099 Daily control level: 1.0790 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH111112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.5220 Target 2: 1.5015 Projected range in ATR’s: 0.0105 Daily control level: 1.5090 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH111112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 123.95 Target 2: 122.30 Projected range in ATR’s: 0.84 Daily control level: 123.43 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH111112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0130 Target 2: 0.9985 Projected range in ATR’s: 0.0077 Daily control level: 1.0018 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH111112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.3375 Target 2: 1.3170 Projected range in ATR’s: 0.0105 Daily control level: 1.3295 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH111112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7100 Target 2: 0.6950 Projected range in ATR’s: 0.0076 Daily control level: 0.7014 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH111112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1104.00 Target 2: 1075.00 Projected range in ATR’s: 14.54 Daily control level: 1096.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH111112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 46.00 Target 2: 43.00 Projected range in ATR’s: 1.54 Daily control level: 45.95 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 12, 2015 Author Report Share Posted November 12, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 12.11.2015 Overnight news from Australia propelled the Aussie Dollar higher. The 90 pip rise in AUDUSD was due to a set of very strong employment numbers. The strength of the incoming data has resulted in the Australian Dollar reaching the upper level of today’s expected true range at the 0.7135 level. This price level coincides with strong overhead resistance that is formed by a prior, multi-decade broken uptrend line. With the price action consolidating between strong overhead resistance and the 0.7135 level, it could be expected that AUDUSD trends down to sideways in a corrective fashion. This morning’s news release from the Australian Bureau of Statistics included the Employment Change and Unemployment Rate numbers. The Employment Change release measures the change in the numbers those employed during the previous month. The prior release was negative -0.8K and the market expected to see a slight improvement to 14.8K. However, the actual release smashed estimates by posting a hefty 58.6K. The Unemployment Rate continued to fall and now stands below the 6% level. The market had expected to see a release of 6.2% which would have meant it was in line with the prior months data. However, the actual number beat predictions and was reported as 5.9%. The creation of employment is an extremely important leading indicator as the salaries are a driver for consumer spending. As consumer spending is by far the largest component of all economic activity, signs that a positive trend exists in labour creation can be used as a barometer that measures the health of the economy. What happens in Australia also has wider implications for the global economy. The Australian economy is tied closely to the fortunes of China. This is due to the high volume of exports, especially of commodities that Australia sends to China. Therefore, a pick up in the Australian economy could be used as a leading indicator to what happens in the world’s second-largest economy. Furthermore, with both the United States Federal Reserve Chairwoman, Janet Yellen and the Bank of England Governor Mark Carney identifying external risks as a reason to hold back on interest rate increases, the news that one of the world’s largest commodity exporting nations is experiencing improving economic conditions will not go unnoticed. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH112112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0830 Target 2: 1.0650 Projected range in ATR’s: 0.0092 Daily control level: 1.0704 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH112112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.5300 Target 2: 1.5100 Projected range in ATR’s: 0.0103 Daily control level: 1.5090 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH1121112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 123.60 Target 2: 122.00 Projected range in ATR’s: 0.77 Daily control level: 123.43 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH112112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0115 Target 2: 0.9970 Projected range in ATR’s: 0.0073 Daily control level: 1.0018 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH112112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.3350 Target 2: 1.3165 Projected range in ATR’s: 0.0097 Daily control level: 1.3295 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH112112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7135 Target 2: 0.6985 Projected range in ATR’s: 0.0076 Daily control level: 0.7014 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH112112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1099.00 Target 2: 1072.00 Projected range in ATR’s: 13.67 Daily control level: 1096.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH112112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 46.50 Target 2: 42.50 Projected range in ATR’s: 1.55 Daily control level: 45.25 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 13, 2015 Author Report Share Posted November 13, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 13.11.2015 This morning, the two heavyweights of the Euro-Area, Germany and France had economic growth news published. Destatis and INSEE announced preliminary GDP numbers for the third quarter for Germany and France respectively. German GDP declined in Q3 after having experienced a moderate bounce in Q2. The published data of 0.3% was in line with market expectations but less than the 0.4% of Q2. In contrast, the French GDP number was much more positive with the actual of 0.3% being line with market expectations and above Q2’s prior release of 0.0%. It was however not a totally positive picture with the current level of French quarterly GDP being half of the high watermark level of 0.6% for May of this year. The latest GDP numbers giving the European Central Bank President, Mr Mario Draghi little in the way of comfort. It would now appear that European policymakers are inching ever closer to the inevitable of increasing stimulus with the aim to boost the Euro-Zones sluggish economic recovery. Draghi reiterated previous statements on Thursday when he saying the ECB was ready to review the current stimulus programme in December. The ECB President’s very dovish stance was highlighted when he said that “The option of doing nothing would go against price stability.” Draghi went further in saying that “From today’s perspective, this suggests that a sustained normalisation of inflation could take longer than we anticipated in March when we first appraised the overall impact of our measures. We have always said that our purchases would run beyond end-September 2016 in case we do not see a sustained adjustment in the path of inflation that is consistent with our aim of achieving inflation rates below, but close to, 2% over the medium term. Other instruments could also be activated to strengthen the impact of the purchase programme if necessary.” Draghi’s comments initially sent the Euro lower, however buyers did come into the market around the 1.0700 area. The move off the lows has resulted in the price action trading higher as it forms a series of higher lows and higher highs. However, with the obvious divergence in US Federal Reserve and ECB monetary policy, it would not be difficult to imagine that any rally in the Euro could be short lived. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH113112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0910 Target 2: 1.07150 Projected range in ATR’s: 0.0098 Daily control level: 1.0690 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH113112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.5330 Target 2: 1.5125 Projected range in ATR’s: 0.0102 Daily control level: 1.5170 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH113112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 123.30 Target 2: 121.85 Projected range in ATR’s: 0.75 Daily control level: 123.06 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH113112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0050 Target 2: 0.9925 Projected range in ATR’s: 0.0074 Daily control level: 1.0083 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH113112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3385 Target 2: 1.3190 Projected range in ATR’s: 0.0100 Daily control level: 1.3222 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH113112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7195 Target 2: 0.7055 Projected range in ATR’s: 0.0073 Daily control level: 0.7085 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH113112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1098.00 Target 2: 1069.50 Projected range in ATR’s: 14.37 Daily control level: 1094.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH113112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 44.00 Target 2: 41.00 Projected range in ATR’s: 1.57 Daily control level: 45.25 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 16, 2015 Author Report Share Posted November 16, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 16.11.2015 Overnight, the Cabinet Office of the Japanese Government published Preliminary Third Quarter Gross Domestic Product numbers. Unfortunately, the data that was presented for the third biggest global economy was extremely disappointing. The markets had expected a GDP number of -0.1%, however, the actual release when it was announced stood at -0.2%. Last night’s negative GDP data is the second quarter in succession that the Japanese economy has contracted. From a technical standpoint, the Japanese economy has now entered into a recession. The sluggish GDP data will now put further pressure on the Shinzo Abe administration and the Bank of Japan to continue with a programme of economic stimulus and structural corrections. The Japanese Government has however tried to put a positive spin on the latest GDP Data with Akira Amari, who is the Economics Minister saying “While there are risks such as overseas developments, we expect the economy to head toward a moderate recovery thanks to the effect of various (stimulus) steps taken so far.” EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH116112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0840 Target 2: 1.0635 Projected range in ATR’s: 0.0105 Daily control level: 1.0830 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH116112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.5325 Target 2: 1.5125 Projected range in ATR’s: 0.0102 Daily control level: 1.5186 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH116112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.5325 Target 2: 1.5125 Projected range in ATR’s: 0.0102 Daily control level: 1.5186 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH116112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0135 Target 2: 0.9985 Projected range in ATR’s: 0.0077 Daily control level: 0.99 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH116112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3395 Target 2: 1.3205 Projected range in ATR’s: 0.0098 Daily control level: 1.3265 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH116112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7185 Target 2: 0.7050 Projected range in ATR’s: 0.0071 Daily control level: 0.7085 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH116112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1104.00 Target 2: 1074.00 Projected range in ATR’s: 15.12 Daily control level: 1079.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH116112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 43.50 Target 2: 40.50 Projected range in ATR’s: 1.63 Daily control level: 43.40 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 17, 2015 Author Report Share Posted November 17, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 17.11.2015. This morning at 10:00 a.m. London time, German Center for the European Economic research (ZEW) will release the German Economic Sentiment data. Around 350 financial analysts are participating in the survey, which shows the balance between the experts who have an optimistic opinion about the Germany’ economic developments within the next six months and these who are not. Germany is the 4th largest economy in the world and by far the biggest and the most influential within the European Union, which makes it very influential to the common European currency. Since the ZEW index is an important indicator which provides with the outlook of the country’s economic health, it typically causes heightened volatility in the EUR currency pairs. The data above zero will generally indicate optimism and the opposite so below zero. The German sentiment trend is declining since March 2015 when data reached this year’s high of 54.8. The statistics usually quite volatile and not following a smooth trend. The forecast for today’s release is expected to read 6.7 which will be a slight improvement on the prior months 1.9 reading. A higher reading in today’s number would be significant as it would be the first time in over six months that the ZEW would have broken its downtrend. In case the release will be lower than expected, this will likely to put additional pressure to the recently weak EURUSD pair. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH117112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0775 Target 2: 1.0595 Projected range in ATR’s: 0.0094 Daily control level: 1.0830 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH117112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.5295 Target 2: 1.5100 Projected range in ATR’s: 0.0099 Daily control level: 1.5265 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH117112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 123.80 Target 2: 122.50 Projected range in ATR’s: 0.71 Daily control level: 122.20 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH117112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0160 Target 2: 1.0025 Projected range in ATR’s: 0.0070 Daily control level: 0.9996 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH117112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3415 Target 2: 1.3240 Projected range in ATR’s: 0.0089 Daily control level: 1.3285 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH117112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 0.7155 Target 2: 0.7030 Projected range in ATR’s: 0.0066 Daily control level: 0.7110 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH117112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1097.00 Target 2: 1070.00 Projected range in ATR’s: 13.70 Daily control level: 1098.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH117112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 44.00 Target 2: 41.50 Projected range in ATR’s: 1.55 Daily control level: 43.40 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 19, 2015 Author Report Share Posted November 19, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 19.11.2015 Not many would have thought that when the benchmark Federal Funds target interest rate dropped under 0.25% in 2008 that it would stay at this level for some 7 years. However, yesterday’s much-anticipated release of the FOMC minutes for October the markets received the clearest indication that the Chairwoman, Janet Yellen and her colleagues on the Federal Reserve committee are now finally ready to increase interest rates. According to the Minutes of the October meeting, the Federal Reserve said that the economic outlook would have improved sufficiently, or in their words “be met” by the December meeting for an agreement to be reached to increase interest rates. In a further hawkish message, the FOMC minutes noted, “The US financial system appeared to have weathered the turbulence in global financial markets without any sign of systemic stress.” The market had expected that the Federal Reserve could have increased interest rates at the September gathering, however, concerns over the contraction of the Chinese and Emerging Market economies combined with patchy economic data led to the committee members taking a cautious approach. Since October, there has been very strong news with respect to US employment with the last jobs report posting impressive Non-Farm Payrolls and Average Earnings numbers. The October meeting took place before the positive US employment numbers were announced. However, barring a disastrous data being announced in December and with the China story dropping from the focus of attention it would appear that the Federal Reserve has no reasons why it should not raise interest rates next month. Furthermore, one outcome of the tragic events that took place in France recently is the rapprochement in relations between the United States and her allies with Russia. A more stable geopolitical picture would do much to reduce risk and calm the nerves of investors and would be one less issue for the FOMC to worry about. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH119112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0750 Target 2: 1.0570 Projected range in ATR’s: 0.0092 Daily control level: 1.0615 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH119112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.5330 Target 2: 1.5140 Projected range in ATR’s: 0.0095 Daily control level: 1.5185 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH119112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 124.25 Target 2: 122.95 Projected range in ATR’s: 0.66 Daily control level: 123.75 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH119112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0270 Target 2: 1.0120 Projected range in ATR’s: 0.0075 Daily control level: 1.0125 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH119112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3355 Target 2: 1.3250 Projected range in ATR’s: 0.0083 Daily control level: 1.3370 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH119112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7175 Target 2: 0.7040 Projected range in ATR’s: 0.0069 Daily control level: 0.7070 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH1191120151.png The intraday technical outlook Trend 1 hour: Down Target 1: 1086.00 Target 2: 1054.00 Projected range in ATR’s: 15.92 Daily control level: 1097.95 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH119112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 43.70 Target 2: 40.60 Projected range in ATR’s: 1.54 Daily control level: 42.70 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 23, 2015 Author Report Share Posted November 23, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 23.11.2015 The European series of Flash Manufacturing PMI is taking the centre of traders’ attention this morning. French and German Flash PMI data are projected to increase to 50.7 and 52.2 correspondingly, with only general European PMI awaited to remain without changes at 52.3. This set of PMI is released by Markit financial Information and typically comes out three weeks after a month ends after a month ends and may add volatility to the Euro pairs. The European Manufacturing PMI set of data is a leading indicator of economic health in the manufacturing sector as purchasing managers possess good inside of the current economic conditions and adapt to them rapidly. Around 500 purchasing managers from each zone are questioned to rate the current business conditions regarding an amount of new orders, inventories and production levels and also to rate employment sphere and supplier deliveries. A number above 50 indicates that the industry is expanding, whereas 50 will states that there were no changes, with the below that showing a contraction. The releases coming above the projections will usually have a positive effect on the common European currency with the vice versa applicable as well. EURUSD has opened sharply lower this morning, as the US dollar continue to gain strength and reaching above 100 level during this morning, the level last seen seven month ago. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/2311EURUSDH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0734 Target 2: 1.0544 Projected range in ATR’s: 0.0095 Daily control level: 1.0825 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/2311GBPUSDH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.5271 Target 2: 1.5075 Projected range in ATR’s: 0.0098 Daily control level: 1.5335 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/2311USDJPYH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 123.47 Target 2: 122.13 Projected range in ATR’s: 0.668 Daily control level: 123.75 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/2311USDCHFH1.png The intraday technical outlook Trend 1 hour: Range Target 1: 1.0270 Target 2: 1.0118 Projected range in ATR’s: 0.0076 Daily control level: 1.000 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/2311USDCADH1.png The intraday technical outlook Trend 1 hour: UP Target 1: 1.3415 Target 2: 1.3251 Projected range in ATR’s: 0.0082 Daily control level: 1.3245 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/2311AUDUSDH1.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7301 Target 2: 0.7159 Projected range in ATR’s: 0.0071 Daily control level: 0.7070 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/2311GOLDH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 1090.25 Target 2: 1062.85 Projected range in ATR’s: 13.70 Daily control level: 1098.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/2311OILUSDH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 43.28 Target 2: 40.28 Projected range in ATR’s: 1.504 Daily control level: 43.00 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 24, 2015 Author Report Share Posted November 24, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 24.11.2015 Oil ended last trading session higher after Saudi Arabia, the world’s largest petroleum exporter, agreed to cooperate with other oil producing countries on price stability. West Texas Intermediate price reached US$ 43.00 high during the yesterday’s session, whereas Brent surged to US$ 45.99 level. After a market experienced a significant volatility due to the announcement, WTI closed the day 45 cents higher, whereas Brent gained 58 cents. Oil price lost almost two third of the value since its collapse began in the middle of 2014, with the WTI hitting the low of US$ 37.92 at the end of last August. In the previous meeting held by Organization of Petroleum Exporting Countries last month, Saudi Arabia declared that despite the worrying market state it is not willing to cut the production presently. As the oil industry is mainly controlled by just a few large oil producers, it implies quite a harsh competition. By allowing a significant price drop, the larger producers could ensure that smaller competitors will be erased, as producing at the low cost is unsustainable to them. Nevertheless the incentive for higher prices has still remained for the producers, with many analysts believe that the currently low prices could not last long. At the moment, the OPEC has set the limits of production at 30 million barrels per day. However, since there is no penalty imposed on the producers in case these restrictions are exceeded, the chances are that the present parameters are not kept by some of the OPEC members. The Saudi comments came just a day after the Venezuelan Oil Minister Eulogio Del Pino told in a press conference that the oil price could drop to as low as US$ 20 if no change in the OPEC’s current policy will be made. Mr Del Pino comments are doubled by the September’s forecast of Goldman Sachs, which indicated that the Oil price could reach US$ 20 per barrel next year. Nevertheless, the majority of analysts believe that the oil price should balance closer to US$ 60. For now the Saudi Arabia proposed “willingness to cooperate” does not, in fact, change anything and remains just words. Recently surging US Dollar is adding further pressure on the black commodity’s price. The weakness of the world’s second largest economy China, therefore the significantly reduced demand for Oil is an additional heavy weighting factor. Therefore drastic actions and significant efforts need to be implemented in order for the oil price to recover in the near future. The next OPEC meeting will be held on December 4 could give some more hints regarding the direction of the Oil price in the near future, however, it seems unlikely that the current market-based pricing strategy will be abandoned by the organization. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/2411EURUSDH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0726 Target 2: 1.0546 Projected range in ATR’s: 0.0097 Daily control level: 1.0825 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/2411GBPUSDH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.5219 Target 2: 1.5025 Projected range in ATR’s: 0.0097 Daily control level: 1.5335 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/2411USDJPYH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 123.48 Target 2: 122.18 Projected range in ATR’s: 0.649 Daily control level: 123.75 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/2411USDCHFH1.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0270 Target 2: 1.0118 Projected range in ATR’s: 0.0076 Daily control level: 1.000 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/2411USDCADH1.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3445 Target 2: 1.3281 Projected range in ATR’s: 0.0082 Daily control level: 1.3245 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/2411AUDUSDH1.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7256 Target 2: 0.7120 Projected range in ATR’s: 0.0068 Daily control level: 0.7070 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/2411GOLDH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 1081.75 Target 2: 1055.85 Projected range in ATR’s: 12.95 Daily control level: 1098.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/2411OILUSDH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 43.80 Target 2: 40.84 Projected range in ATR’s: 1.482 Daily control level: 43.00 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
vic84 Posted November 24, 2015 Report Share Posted November 24, 2015 AUDUSD has been down but there are still bullish signs which might push the prices further up, has to wait and watch. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 25, 2015 Author Report Share Posted November 25, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 25.11.2015 Further updates on economic conditions within the United States will come in the form of the monthly Core Durable Goods Orders data this afternoon at 1:30 pm London time. The index released by the US Census Bureau represents the change in the total value of new purchase orders placed with domestic manufacturers for delivery of durable goods. Transportation and aircraft items are excluded from the index, since these goods are of a high value and volatility and can significantly distort the overall picture. Durable goods are defined as items with a life expectancy of more than three years, which includes cars, computers, industrial machinery and appliances. Monthly manufacturers’ inventories, shipments and orders are surveyed with the manufacturing companies of US$ 500 million and more in yearly deliveries. An increased level of purchase orders shows that producers will be busy in the coming months to work on filling the orders, which consequently will influence the creation of additional jobs and increase spending. The value of the index for the month of October is projected to improve to 0.5%, up from -0.3% of the previous publishing. The actual value of the indicator that is above the forecasted will likely have a boosting effect on the US currency. US Dollar Index has recently set new highs and was trading above 100 mark at the beginning of this week’s trading session. However, the index showed some weakness for the last two days and reached 99.35 low this morning. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/2511EURUSDH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0732 Target 2: 1.0552 Projected range in ATR’s: 0.0090 Daily control level: 1.0830 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/2511GBPUSDH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.5168 Target 2: 1.4988 Projected range in ATR’s: 0.0090 Daily control level: 1.5335 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/2511USDJPYH1.png The intraday technical outlook Trend 1 hour: Down Target 1: 123.17 Target 2: 121.89 Projected range in ATR’s: 0.642 Daily control level: 123.75 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/2511USDCHFH1.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0237 Target 2: 1.0089 Projected range in ATR’s: 0.0074 Daily control level: 1.000 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/2511USDCADH1.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3382 Target 2: 1.3224 Projected range in ATR’s: 0.0079 Daily control level: 1.3245 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/2511AUDUSDH1.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7319 Target 2: 0.7181 Projected range in ATR’s: 0.0069 Daily control level: 0.7150 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/2511GOLDH1.png The intraday technical outlook Trend 1 hour: Range Target 1: 1088.38 Target 2: 1061.82 Projected range in ATR’s: 13.27 Daily control level: 1098.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/2511OILUSDH1.png The intraday technical outlook Trend 1 hour: Up Target 1: 44.58 Target 2: 41.58 Projected range in ATR’s: 1.5007 Daily control level: 40.65 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 26, 2015 Author Report Share Posted November 26, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 26.11.2015 The quarterly Australian Private Expenditure data has opened this trading day with quite a disappointing results, as it showed that the spending by the private businesses decreased to -9.2 % against -2.8% expected. This data completed this year’s set of the releases with all of them in the negative side and reached the worst results since February 2000, pulling the recently recovering AUDUSD pair to the downside. “In an acknowledgment that the below-par economic growth of the past three years will persist, the Treasury’s top forecaster, Nigel Ray, said next month’s budget update would assume long-term growth of 2.75 per cent, down from about 3 percent” – the Australian Financial Review reports. “A sharp slowdown in population growth since export prices peaked in 2011 means the economy won’t expand as fast as previously assumed. Lower growth could mean a future of fewer jobs and poorer investment returns. It would hit taxes, making it harder to pay for promised raises in defence, education, old age and welfare services” – Jacob Greber, observes in his recent article. For now the probability of a further interest rate cut by the Reserve Bank of Australia in the near future is increasing, as fewer people will mean fewer employees and, therefore, an additional drop in productivity. The European trading session today looks quite deserted regarding the economic releases, whereas the American markets are closed for the Thanksgiving holiday. Thus, the low trading volume will likely govern the market though the risk of volatility in case of any significant event enters the media headlines. Despite some retracement yesterday, it seems the dollar index is continuing to persist on the way up, bouncing off the 99.75 support this morning and likely heading to retest the recent high of 100.20. Gold, the traders’ favourite commodity after the oil is remaining to trade at five-year low, trading a descending triangle pattern, which could suggest a move lower might be ahead. Oil price, after encountering some volatility, has managed to keep the positions it gained on Monday on Saudi Arabia’s comments. The crude was trading above US$ 43.10 support and daily pivot point this morning. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH126112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0700 Target 2: 1.0540 Projected range in ATR’s: 0.0084 Daily control level: 1.0690 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH126112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.5200 Target 2: 1.5040 Projected range in ATR’s: 0.0081 Daily control level: 1.5050 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH126112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 123.20 Target 2: 122.15 Projected range in ATR’s: 0.56 Daily control level: 123.00 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH126112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0280 Target 2: 1.0135 Projected range in ATR’s: 0.0073 Daily control level: 1.0140 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH126112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.3360 Target 2: 1.3215 Projected range in ATR’s: 0.0073 Daily control level: 1.3340 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH126112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7315 Target 2: 0.7185 Projected range in ATR’s: 0.0064 Daily control level: 0.7155 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH126112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1082.00 Target 2: 1058.00 Projected range in ATR’s: 12.30 Daily control level: 1081.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH126112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 44.80 Target 2: 41.80 Projected range in ATR’s: 1.49 Daily control level: 42.15 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 27, 2015 Author Report Share Posted November 27, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 27.11.2015 As we head into next week and the start of the last month of 2015, one would have expected that the markets would be in a holiday mode as trading volumes decline during the beginning of the festive season. In reality, the opposite is very much the case. On Thursday of next week, Mr. Mario Draghi, who is the president of the European Central Bank will give his final and probably most important press conference of the year. The markets are expecting President Draghi to announce new measures that will help to kick start the Euro-Zones patchy economic recovery. There have been complications since the last ECB meeting with a refugee crisis vividly shown on European television channels causing real friction between the leadership of political parties and the rank and file members as well as between European Union member Governments. This refugee crisis has been followed by the tragic events that have unfolded in Paris and the need to shut down productive economic activity in much of Belgium due to fears of further terrorist action. With the Schengen treaty that allows for the free movement of persons within the European Union Member borders now under real threat the fear is that the Geopolitical instability that has its roots in the Middle East could eventually restrict the flow of commerce within Schengen member states. The knock on effect would be to further depress the economic outlook for the Euro-Area. The European nations have a duty of care to look after and provide shelter to refugees who are fleeing conflict. We simply could not allow those fleeing terror to remain on the beaches of Greece and Malta during the cold winter season. However, accepting so many new arrivals is going to add an extra burden on the resources of the European countries who have offered a safe haven. This comes at a time when these resources are limited. Furthermore, these refugees will in the medium term want to be fully integrated into society. This will include the new citizens wish to be economically active. The very idea of some estimated one million new arrivals being accepted into the Euro-Area will have the analysts at the ECB trying to ascertain very quickly what the likely impact will be on inflation and the job market. This brings us back to the events of next week. The ECB is already under pressure to act on the economy and it is very likely that it will announce an expansion of the current quantitative easing programme. Will the refugee crisis have an impact on ECB policy? Probably not at this stage. However if the crisis in Syria and Iraq is not resolved soon and if the world’s powers do not settle their differences and move ahead to alleviate the plight of these countries populations, then the potential for serious impact on the Euro-Area economy should not be ruled out. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH127112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0690 Target 2: 1.0530 Projected range in ATR’s: 0.0082 Daily control level: 1.0690 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH127112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.5175 Target 2: 1.5020 Projected range in ATR’s: 0.0079 Daily control level: 1.5050 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH127112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 123.10 Target 2: 122.00 Projected range in ATR’s: 0.55 Daily control level: 122.72 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH127112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0300 Target 2: 1.0170 Projected range in ATR’s: 0.0070 Daily control level: 1.0140 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH127112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.3360 Target 2: 1.3220 Projected range in ATR’s: 0.0070 Daily control level: 1.3340 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH127112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7290 Target 2: 0.7160 Projected range in ATR’s: 0.0064 Daily control level: 0.7155 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH127112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1083.00 Target 2: 1059.00 Projected range in ATR’s: 12.27 Daily control level: 1075.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH127112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 44.50 Target 2: 41.60 Projected range in ATR’s: 1.45 Daily control level: 42.15 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted November 30, 2015 Author Report Share Posted November 30, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 30.11.2015 Earlier in November, the International Monetary Fund Managing Director, Christine Lagarde announced her backing for the inclusion of the Chinese Yuan into a select basket of international reserve currencies. It is now expected that later today, the Chinese Yuan will be given official IMF approval that sees this currency obtain Special Drawing Rights status. Gaining SDR status has been a long term goal for both the Chinese political leadership and the Peoples Bank of China. If, as it is assumed, the Yuan is included as an IMF reserve currency, then it will join other global currency heavyweights in an exclusive club that includes, the US Dollar, the Euro, British Pound and Japanese Yen. The acceptance into this prestigious club would indicate that the IMF has looked past the problems that China has faced over the summer. Furthermore, it would appear that the currency devaluation that the PBOC initiated is not seen as an impediment for inclusion in the SDR basket. Although it is not thought that China will make any implicit commitments not to embark on further competitive devaluations, there does appear that the Chinese leadership will stick to a path that is more focused on consumption and less that is export driven. The inclusion of the Yuan into the IMF SDR basket is a symbolic win for the Chinese Government. However, this move by the IMF says a lot about the stance of the United States with respect to China. With the Chinese economy continuing to grow, albeit, at a reduced rate, the United States has shown its preference to accept a country that now boasts the second largest economy within a club that was up till now controlled from Washington. Any move by the United States to block the Yuan membership into the SDR basket would have meant China taking direction away from the influence of Western nations. The Chinese Yuan membership into the SDR basket could be seen as the beginning of the end of US Dollar dominance and the only global reserve currency. For sure, the US will have to loosen its grip on the IMF if it is going to accept the inclusion of the Yuan into the SDR basket. However, this is not a simple changing of the guard that sees China replacing the United States as the all-powerful economic superpower. The effects of the inclusion of the Yuan will be evolutionary rather than revolutionary as the Chinese Government moves further to transforming the country’s economy. In the long term, if the Chinese economy does continue to growth and if regulations are improved and brought in line with acceptable international standards, then we may find the world in a few decades from now that sees the United States become one two or three (if we include the Euro) global reserve currencies. In the short term, however, with both the European Central Bank and the Peoples Bank of China staying on a path of monetary easing and with the United States Federal Reserve about to begin a policy of tightening, the divergence of monetary policies should see the US Dollar maintain its global dominance. EURUSD http://academy.acfx.com/wp-content/uploads/2015/11/EURUSDH130112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0665 Target 2: 1.0510 Projected range in ATR’s: 0.0080 Daily control level: 1.0640 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/11/GBPUSDH130112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.5115 Target 2: 1.4950 Projected range in ATR’s: 0.0081 Daily control level: 1.5110 USDJPY http://academy.acfx.com/wp-content/uploads/2015/11/USDJPYH130112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 123.30 Target 2: 122.25 Projected range in ATR’s: 0.55 Daily control level: 122.30 USDCHF http://academy.acfx.com/wp-content/uploads/2015/11/USDCHFH130112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0370 Target 2: 1.0230 Projected range in ATR’s: 0.0073 Daily control level: 1.0250 USDCAD http://academy.acfx.com/wp-content/uploads/2015/11/USDCADH130112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3435 Target 2: 1.3290 Projected range in ATR’s: 0.0073 Daily control level: 1.3280 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/11/AUDUSDH130112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 0.7250 Target 2: 0.7130 Projected range in ATR’s: 0.0063 Daily control level: 0.7240 GOLD http://academy.acfx.com/wp-content/uploads/2015/11/GOLDH130112015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1070.00 Target 2: 1044.00 Projected range in ATR’s: 12.96 Daily control level: 1075.00 OIL http://academy.acfx.com/wp-content/uploads/2015/11/OILUSDH130112015.png The intraday technical outlook Trend 1 hour: Up Target 1: 43.00 Target 2: 41.00 Projected range in ATR’s: 1.44 Daily control level: 42.15 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted December 1, 2015 Author Report Share Posted December 1, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 01.12.2015 As expected, the Chinese Yuan has been accepted by the International Fund into the basket of Special Drawing Rights currencies. This means barring any disasters, the Yuan will join an exclusive club of currencies in October of 2016. The head of the IMF, Christine Lagarde on a momentous day for China said of the Yuan’s acceptance as an SDR currency that this was “an important milestone in the integration of the Chinese economy into the global financial system” The Chinese Yuan new found status as a key component of the IMF’s basket of reserve currencies not only brings with it a great deal of prestige but is also a vote of confidence in the manner that the Chinese Government and the Peoples Bank of China have managed the recent crisis that has hit the domestic economy. The move by the IMF also signals and acceptance that the Peoples Bank of China is gaining increasing prestige and authority. The significance of the Yuan’s SDR acceptance, therefore, highlights that the Chinese Government has allowed a certain degree of power and control to be transferred from the ruling party to an independent, state organization. Furthermore, from a geopolitical aspect, the Yuan’s acceptance into the IMF’s SDR basket is a clear and strong message that the Chinese economy matters. The Chinese Yuan in a very short space of time has now become one or the major global currencies. Although we are some way from the USDCNY currency pair gaining the status of EURUSD for sure the time will come in the near future when CNY will become an important financial instrument. EURUSD http://academy.acfx.com/wp-content/uploads/2015/12/EURUSDH101122015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0641 Target 2: 1.0485 Projected range in ATR’s: 0.0078 Daily control level: 1.0636 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/12/GBPUSDH101122015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.5137 Target 2: 1.4975 Projected range in ATR’s: 0.0081 Daily control level: 1.4993 USDJPY http://academy.acfx.com/wp-content/uploads/2015/12/USDJPYH101122015.png The intraday technical outlook Trend 1 hour: Up Target 1: 123.70 Target 2: 122.50 Projected range in ATR’s: 0.59 Daily control level: 122.67 USDCHF http://academy.acfx.com/wp-content/uploads/2015/12/USDCHFH101122015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.0363 Target 2: 1.0211 Projected range in ATR’s: 0.0076 Daily control level: 1.0225 USDCAD http://academy.acfx.com/wp-content/uploads/2015/12/USDCADH101122015.png The intraday technical outlook Trend 1 hour: Up Target 1: 1.3435 Target 2: 1.3283 Projected range in ATR’s: 0.0076 Daily control level: 1.3280 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/12/AUDUSDH101122015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7295 Target 2: 0.7160 Projected range in ATR’s: 0.0068 Daily control level: 0.7169 GOLD http://academy.acfx.com/wp-content/uploads/2015/12/GOLDH101122015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1079.00 Target 2: 1051.00 Projected range in ATR’s: 13.84 Daily control level: 1075.00 OIL http://academy.acfx.com/wp-content/uploads/2015/12/OILUSDH101122015.png The intraday technical outlook Trend 1 hour: Down Target 1: 43.00 Target 2: 41.00 Projected range in ATR’s: 1.42 Daily control level: 43.66 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted December 2, 2015 Author Report Share Posted December 2, 2015 MORE ON ACFXblog.com MARKET BRIEFING – TECHNICAL ANALYSIS 02.12.2015 EURUSD http://academy.acfx.com/wp-content/uploads/2015/12/0212EURUSDH1.png The intraday technical outlook EURUSD has breached the top of downtrend channel yesterday, with the move, however proved to be unsuccessful later. EURUSD needs to hold below 1.0610 level being the intraday Pivot Point if the price action is to continue the downward move. The initial downside target is 1.0583, being today’s Daily Average True Range (ATR) downside projection level. Should this level be reached successfully, a further extension towards 1.0535, which is 2nd pivot support of the pair. If EURUSD fails to maintain the downward momentum, a retracement higher could potentially unfold. If this scenario was to occur the target for today is 1.0634, being the pair’s 1st intermediate pivot resistance of today. In case this level is reached, a prolonged extension to 1.0658, being the 2nd upside resistance level, could further take place. GBPUSD http://academy.acfx.com/wp-content/uploads/2015/12/0212GBPUSDH1.png The intraday technical outlook GBPUSD has bounced off the today’s pivot point this morning, retracing sharply from the yesterday’s highs. GBPUSD needs to hold below 1.5085 level, being the intraday Pivot Point if the price action is to continue its downward move. The initial downside target is 1.5001, being today’s Average True Range downside target of the pair. Should this level be reached, a further extension towards 1.4969, which is with the pair’s 3rd pivot support level of the day, could likely take place. If GBPUSD fails to maintain the downward momentum, a reversal and trading higher could potentially unfold. If this scenario was to occur, the target for today will be 1.5085, which is the pair’s Pivot Point of today. USDJPY http://academy.acfx.com/wp-content/uploads/2015/12/0212USDJPYH1.png The intraday technical outlook USDJPY does not let go of its efforts to trade higher. USDJPY needs to hold above the 122.95 level, being the intraday Pivot Point in order to hold the uptrend scenario. The initial upside target is 123.43, being today’s Average True Range upside target of the pair. Should this level be reached, a further extension towards 123.55, which is with the pair’s 2nd pivot resistance level of the day, could likely take place. If USDJPY fails to maintain the upward momentum, a retracement lower could potentially unfold. If this scenario was to occur the target for today is 122.92, which is the pair’s pivot point of today. In case this scenario will be activated, further extension to 122.56, being the pair’s 1st pivot support of today, could likely occur. USDCHF http://academy.acfx.com/wp-content/uploads/2015/12/0212USDCHFH1.png The intraday technical outlook USDCHF has breached the uptrend channel last night. USDCHF needs to hold below 1.0270 line being the intraday Pivot Point if the price action is to continue its downward move. The initial downside target is 1.0222, being the first 1st pivot support of today. Following that the pair will likely to strive towards 1.0211 level. If USDCHF fails to maintain downward momentum, a reversal higher could potentially unfold. If this scenario was to occur the initial upside target for today is 1.0318. A further extension towards 1.0336 resistance, which is also approximately coincides with the Average True Range upside target of today, could follow next in this case. USDCAD http://academy.acfx.com/wp-content/uploads/2015/12/0212USDCADH1.png The intraday technical outlook USDCAD is striving to continue the upward move. USDCAD needs to hold above 1.3354 line being the intraday Pivot Point if the price action is to continue its upward move. The initial upside aim is 1.3400, being the pair’s the pair’s 1st resistance level of today. should this aim be reached, it will open the way towards 1.3428, being the daily Average True Range upside target. If USDCAD fails to maintain its upward momentum, a reversal and returning to trade lower could potentially unfold. If this scenario was to occur the target for today is 1.3332, which is the 1st intermediate pivot support level of the pair. A further extension towards of 1.3311 could then follow that move. AUDUSD http://academy.acfx.com/wp-content/uploads/2015/12/0212AUDUSDH4.png The intraday technical outlook AUDUSD continues sharply higher on the way up this morning. AUDUSD needs to hold above 0.7292 level, being the intraday Pivot Point if the price action is to continue the upward move. The initial upside target for this afternoon will be 0.7388, being the upside projection level of the Daily Average True Range (ATR), If AUDUSD fails to maintain the upside momentum, a retracement lower could potentially unfold. If this scenario was to occur the target is 0.7292, being the pair’s pivot point of today. Should this level be reached, the extension towards 0.7252, which is the pair’s 1st pivot support line of today, and also coincides with downside projection level of the Daily Average True Range (ATR), could likely occur next. GOLD http://academy.acfx.com/wp-content/uploads/2015/12/0212GOLDH1.png The intraday technical outlook Gold is retesting the top of the downtrend channel this morning. The commodity needs to hold below 1068.83 level, being the intraday Pivot Point if the price action is to continue its downward move. The initial downside target is 1063.20, being the commodity’s 1st pivot support level of today. Further extension towards 1057.49, could occur next following that. If the metal fails to maintain the downward momentum, a reversal and trading higher could potentially unfold. If this scenario was to occur, the target for today is 1074.54, which is the commodity’s 1st pivot resistance of today. OIL http://academy.acfx.com/wp-content/uploads/2015/12/0212OILUSDH11.png The intraday technical outlook Oil has bounced off the daily pivot point this morning, once again retesting the bottom of the daily upward trend channel. The commodity needs to hold below 42.24 level, being the intraday Pivot Point if the price action is to continue the downward move. The initial downside target is 41.69, which is the commodity’s first support level of today. Should the trading break below this level, the next commodity’s target could be 41.20 level, being the 2nd pivot support of today. If the commodity fails to maintain the downward momentum, a reversal and trading higher could potentially unfold. If this scenario was to occur the target for today is 42.49, being the commodity’s 1st intermediate pivot resistance level of today. MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted December 3, 2015 Author Report Share Posted December 3, 2015 MORE ON ACFXblog.com MARKET BRIEFING – LONDON OPEN 03.12.2015 As the year comes to a close, the markets await two monumental decisions. It is thought by many and priced into the market that the European Central Banks, Governing Council have already agreed upon an expansion of their already large Quantitative easing program. Whereas, across the North Atlantic in Washington, it is assumed that the Federal Reserve Open Market Committee has all but rubber-stamped a decision to increase interest rates for the first time in some 9 years. Back in the day, a central bank’s decision to increase or decrease interest rates although an important event never carried such significance, or was written about in such detail. However, in an era of globalization and an interconnected international economy, a decision to tighten or ease monetary policy has become very big news indeed. The decisions that will be taken over the next few weeks come after a deep recession that hit the global economy in 2008. Although stock markets around the world have recovered, anything other than a rally in the major indices would have expected with so much cheap and abundant money looking for somewhere to be parked. The United States Federal Reserve and the Bank of England was quick to step in and boost their economic systems by embarking on substantial stimulus programmes. The European Central Bank, shackled by the German Government and Bundesbank only decided to initiate its own QE programme on January 22 of this year. The ECB President, Mr. Mario Draghi announce a few months back that the central bank would do what it takes to bring back growth to the sluggish European economy. This was an admission that all was not well with the ECB’s current programme of stimulus. It is now hard to believe that less than 12 months since the last European QE programme was announced that the markets are already pricing in QE2. The ECB is probably right to worry. It only needs to look to Japan. A country that has suffered a chronic and disastrous recession. The fear amongst the ECB governing council is that the plight of Japan could turn out to be the story of the Euro-Area. There are of course differences between the Japan and the Euro-Zone. Japan is a much smaller economy that is heavily focussed on manufacturing, whereas the Euro-Zone brings together a much more diverse economy. For a better comparison, we really need to look across to the United States. What becomes evident when one compares the US and Euro-Area is the how out of kilt the economic cycles are. Although a low inflation environment does continue to persist in the USA, there are signs that this picture is beginning to change. Furthermore, over the past few months there has been real signs that the US jobs market is beginning to show positive gains. By contrast, the Euro-Area has shown patchy employment growth and an anaemic inflation outlook. There is talk that the Euro-Area is some 24 to 36 months behind the United States. This is probably a correct assumption. However, the structural and political problems continue to persist in the Euro-Area. Although QE2 should eventually push the Euro-Area towards recovery, the main beneficiaries will be the core nations such as Germany, Netherlands, Austria and France. For the periphery such as Greece, Italy, Portugal and Spain the road back to recovery will continue to be a long and painful journey. EURUSD http://academy.acfx.com/wp-content/uploads/2015/12/EURUSDH103122015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0680 Target 2: 1.0540 Projected range in ATR’s: 0.0072 Daily control level: 1.0636 GBPUSD http://academy.acfx.com/wp-content/uploads/2015/12/GBPUSDH103122015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.5035 Target 2: 1.4865 Projected range in ATR’s: 0.0087 Daily control level: 1.5125 USDJPY http://academy.acfx.com/wp-content/uploads/2015/12/USDJPYH103122015.png The intraday technical outlook Trend 1 hour: Up Target 1: 123.80 Target 2: 122.65 Projected range in ATR’s: 0.60 Daily control level: 122.75 USDCHF http://academy.acfx.com/wp-content/uploads/2015/12/USDCHFH103122015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.0255 Target 2: 1.0100 Projected range in ATR’s: 0.0074 Daily control level: 1.0306 USDCAD http://academy.acfx.com/wp-content/uploads/2015/12/USDCADH103122015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1.3415 Target 2: 1.3265 Projected range in ATR’s: 0.0077 Daily control level: 1.3406 AUDUSD http://academy.acfx.com/wp-content/uploads/2015/12/AUDUSDH103122015.png The intraday technical outlook Trend 1 hour: Up Target 1: 0.7375 Target 2: 0.7240 Projected range in ATR’s: 0.0067 Daily control level: 0.7169 GOLD http://academy.acfx.com/wp-content/uploads/2015/12/GOLDH103122015.png The intraday technical outlook Trend 1 hour: Down Target 1: 1067.00 Target 2: 1040.00 Projected range in ATR’s: 14.13 Daily control level: 1075.00 OIL http://academy.acfx.com/wp-content/uploads/2015/12/OILUSDH103122015.png The intraday technical outlook Trend 1 hour: Down Target 1: 42.00 Target 2: 39.50 Projected range in ATR’s: 1.40 Daily control level: 42.60 MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted December 4, 2015 Author Report Share Posted December 4, 2015 MORE ON ACFXblog.com MARKET BRIEFING – TECHNICAL ANALYSIS 04.12.2015 EURUSD http://academy.acfx.com/wp-content/uploads/2015/12/0412EURUSDH4.png The intraday technical outlook EURUSD has retraced this morning, after the 450 pips move on Mario Draghi speech last afternoon. EURUSD needs to hold above 1.0813 level being the intraday Pivot Point if the price action is to continue the upward move. The initial upside target is 1.1037, being today’s Daily Average True Range (ATR) upside projection level. Should this level be reached successfully, a further extension towards 1.1105, which is 1st pivot resistance of the pair. If EURUSD fails to maintain the upward momentum, a retracement lower could potentially unfold. If this scenario was to occur the target for today is 1.0645, being the pair’s 1st pivot support of today. In case this level is reached, a prolonged extension to 1.0500, being the 2nd intermediate support and an important psychological level at the same time, could further take place. GBPUSD http://academy.acfx.com/wp-content/uploads/2015/12/0412GBPUSDH4.png The intraday technical outlook GBPUSD has surged higher yesterday amid the strengthening US Dollar. GBPUSD needs to hold above 1.5067 level, being the intraday Pivot Point if the price action is to continue its upward move. The initial upside target is 1.5231, which also approximately coincides with today’s Average True Range upside projection level of the pair. Should this level be reached, a further extension towards 1.5321, which is with the pair’s 2nd pivot resistance level, could likely take place. If GBPUSD fails to maintain the upward momentum, a reversal and trading lower could potentially unfold. If this scenario was to occur, the target for today will be 1.5041, which is the pair’s today’s Average True Range downside target. USDJPY http://academy.acfx.com/wp-content/uploads/2015/12/0412USDJPYH1.png The intraday technical outlook USDJPY is recovering yesterday’s losses this morning. USDJPY needs to hold above the 122.81 level, being the intraday Pivot Point in order to hold the uptrend scenario. The initial upside target is 123.33, which also approximately coincides with today’s Average True Range upside target of the pair. Should this level be reached, a further extension towards 123.70, which is with the pair’s 2nd intermediate pivot resistance level of the day, could likely take place. If USDJPY fails to maintain the upward momentum, a retracement lower could potentially unfold. If this scenario was to occur the target for today is 122.44, which is the pair’s 1st intermediate pivot support point of today. In case this scenario will be activated, further extension to 121.89, being the pair’s 1st pivot support of today together with Daily Average True Range downside target, could likely occur. USDCHF http://academy.acfx.com/wp-content/uploads/2015/12/0412USDCHFH1.png The intraday technical outlook USDCHF has declined sharply lower on the Mario Draghi speech yesterday. USDCHF needs to hold below 1.0270 line being the intraday Pivot Point if the price action is to continue its upward move. The initial downside target is 0.9900, being the daily Average True Range downside projection. Should that level be reached, the pair will likely continue to trade towards 0.9779 next. If USDCHF fails to maintain downward momentum, a reversal higher could potentially unfold. If this scenario was to occur the initial upside target for today is 1.0170. A further extension towards 1.0290 resistance, which is the Average True Range upside target of today, could follow next in this case. USDCAD http://academy.acfx.com/wp-content/uploads/2015/12/0412USDCADH4.png The intraday technical outlook USDCAD continues to range for the second week. USDCAD needs to hold below 1.3348 level being the intraday Pivot Point if the price action is to continue its downward move. The initial downside aim is 1.3296, being the pair’s the pair’s 1st support of today. Should this level be reached, it will open the way towards 1.3240 level. If USDCAD fails to maintain its downward momentum, a reversal and returning to trade higher could potentially unfold. If this scenario was to occur the target for today is 1.3403, which is today’s pivot resistance level of the pair. A further extension towards of 1.3431, being the daily Average True Range upside projection could then follow that move. AUDUSD http://academy.acfx.com/wp-content/uploads/2015/12/0412AUDUSDH1.png The intraday technical outlook AUDUSD was not much affected by the yesterday’s markets volatility. AUDUSD needs to hold below 0.7327 level, being the intraday Pivot Point if the price action is to continue the downward move. The initial downside target for this afternoon will be 0.7271, being the of the Daily Average True Range (ATR) downside projection level. Following that, the pair could decline to 0.7248, being the 2nd pivot support line together with the bottom of the uptrend channel. If AUDUSD fails to maintain the downside momentum, a retracement higher could potentially unfold. If this scenario was to occur the target is 0.7371, being the pair’s 1st pivot resistance level of today. Should this mark be reached, the extension towards 0.7409, being the of the Daily Average True Range (ATR) upside projection, could likely occur next. GOLD http://academy.acfx.com/wp-content/uploads/2015/12/0412GOLDH1.png The intraday technical outlook Gold is retesting the top of the downtrend channel this morning. The commodity needs to hold above 1057.79 level, being the intraday Pivot Point if the price action is to continue its upward move. The initial upside target is 1069.40, being the commodity’s 1st pivot resistance level of today. Further extension towards 1076.75, being the upside projection level of the Daily Average True Range (ATR), could occur next following that. If the metal fails to maintain the upward momentum, a reversal and trading lower could potentially unfold. If this scenario was to occur, the target for today is 1057.79, which is the commodity’s pivot point of today. The commodity price then could further stretch towards 1050.30 level, which also coincides with the downside projection level of the Daily Average True Range. OIL http://academy.acfx.com/wp-content/uploads/2015/12/0412OILUSDH1.png The intraday technical outlook Oil is trading higher this morning after it reached a new three-month low on Wednesday. The commodity needs to hold above 41.79 level, being the intraday Pivot Point if the price action is to continue the upward move. The initial upside target is 42.76, which is the commodity’s first support level of today. . Should the trading break above this level, the next commodity’s target could be 43.51, being the 2nd pivot resistance of today which also coincides with of the Daily Average True Range (ATR) upside projection level. If the commodity fails to maintain the upward momentum, a reversal and trading lower could potentially unfold. If this scenario was to occur the target for today is 41.79, being the commodity’s pivot point of today. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted December 7, 2015 Author Report Share Posted December 7, 2015 MORE ON ACFXblog.com MARKET BRIEFING – TECHNICAL ANALYSIS 07.12.2015 EURUSD http://academy.acfx.com/wp-content/uploads/2015/12/0412EURUSDH41.png The intraday technical outlook EURUSD continue to retrace from the Thursday’s highs when Mario Draghi speech became a disappointment to investors. EURUSD needs to hold above 1.0890 level being the intraday Pivot Point if the price action is to continue the downward move. The initial downside target is 1.0768, being today’s Daily Average True Range (ATR) downside projection level. Should this level be reached successfully, a further extension towards 1.0703, which is 2nd pivot support of the pair, could take place next. If EURUSD fails to maintain the downward momentum, a retracement higher could potentially unfold. If this scenario was to occur the target for today is 1.0890, being the pair’s pivot point of today. In case this level is reached, a prolonged extension to 1.0973, being the Daily Average True Range (ATR) upside projection level, could further take place. GBPUSD http://academy.acfx.com/wp-content/uploads/2015/12/0712GBPUSDH1.png The intraday technical outlook GBPUSD is consolidating, after a strong upmove on Thursday. GBPUSD needs to hold below 1.5000 level, being the intraday Pivot Point if the price action is to continue its downward move. The initial downside target is 1.5032, being today’s 2nd pivot support level of the pair. Should this level be reached, a further extension towards 1.5000, which is with today’s Average True Range downside projection level of the pair, could likely take place. If GBPUSD fails to maintain the downward momentum, a reversal and trading higher could potentially unfold. If this scenario was to occur, the target for today will be 1.5048, which is the pair’s 1st pivot resistance level of today. USDJPY http://academy.acfx.com/wp-content/uploads/2015/12/0712USDJPYH1.png The intraday technical outlook USDJPY is recovering yesterday’s losses this morning. USDJPY needs to hold above the 122.81 level, being the intraday Pivot Point in order to hold the uptrend scenario. The initial upside target is 123.33, which also approximately coincides with today’s Average True Range upside target of the pair. Should this level be reached, a further extension towards 123.70, which is with the pair’s 2nd intermediate pivot resistance level of the day, could likely take place. If USDJPY fails to maintain the upward momentum, a retracement lower could potentially unfold. If this scenario was to occur the target for today is 122.44, which is the pair’s pivot point of today. In case this scenario will be activated, further extension to 122.53, being the pair’s 1st pivot support of today together with Daily Average True Range downside target, could likely occur. USDCHF http://academy.acfx.com/wp-content/uploads/2015/12/0712USDCHFH1.png The intraday technical outlook USDCHF is retesting 1.0030 resistance line, looking to recover the losses the pair made last Thursday. USDCHF needs to hold above 1.09969 line being the intraday Pivot Point if the price action is to continue its upward move. The initial upside target is 1.0070, being the daily Average True Range upside projection. Should that level be reached, the pair could continue trading towards 1.0121 intermediate resistance next. If USDCHF fails to maintain upward momentum, a reversal lower could potentially unfold. If this scenario was to occur the initial downside target for today will be 0.9970, being the pivot point of today. A further extension towards 0.9905 resistance, which is the pair’s 1st pivot support level, could follow next in this case. USDCAD http://academy.acfx.com/wp-content/uploads/2015/12/0712USDCADH4.png The intraday technical outlook USDCAD is trading higher this morning, after the set of dissapointing Canadian economic data was published last Friday. USDCAD needs to hold above 1.3364 level being the intraday Pivot Point if the price action is to continue its upward move. The initial upside aim is 1.3450, being the Average True Range upside projection of today. Should this level be reached, it will open the way towards 1.3510, being the pair’s 3rd pivot resistance level of today. If USDCAD fails to maintain its upward momentum, a reversal and returning to trade lower could potentially unfold. If this scenario was to occur the target for today is 1.3363, which is today’s pivot point of the pair. A further extension towards of 1.3288, being the daily Average True Range downside projection could follow that move then. AUDUSD http://academy.acfx.com/wp-content/uploads/2015/12/0712AUDUSDH1.png The intraday technical outlook AUDUSD declined lower this morning. AUDUSD needs to hold below 0.7331 level, being the intraday Pivot Point if the price action is to continue the downward move. The initial downside target for this afternoon will be 0.7267, being the of the Daily Average True Range (ATR) downside projection level. Following that, the pair could decline to 0.7251, being the 2nd intermediate pivot support line and coinciding with the bottom of the uptrend channel. If AUDUSD fails to maintain the downside momentum, a retracement higher could potentially unfold. If this scenario was to occur the target is 0.7384, being the pair’s 1st pivot resistance level of today. Should this mark be reached, the extension towards 0.7409, being the of the Daily Average True Range (ATR) upside projection, could likely occur next. GOLD http://academy.acfx.com/wp-content/uploads/2015/12/0712GOLDH1.png The intraday technical outlook Gold was among the top performers last Friday, as investors’ uncertainty regarding the forex main currency grows. The commodity needs to hold above 1077.43 level, being the intraday Pivot Point if the price action is to continue its upward move. The initial upside target is 1096.84, which is also approximately coincides with the Daily Average True Range (ATR) upside projection level. Should this target be reached, a move towards 1107.88, being the pair’s second resistance point of today could likely take place next. If the metal fails to maintain the upward momentum, a reversal and trading lower could potentially unfold. If this scenario was to occur, the target for today is 1070.91, which is the commodity’s downside projection level of the Daily Average True Range. OIL http://academy.acfx.com/wp-content/uploads/2015/12/0712OILUSDH1.png The intraday technical outlook Oil continues to trade lower this morning as no action to reduce the oil production was the outcome of the Friday’s OPEC meeting. The commodity needs to hold above 41.79 level, being the intraday Pivot Point if the price action is to continue the upward move. The initial downside target is 39.01, being the Daily Average True Range (ATR) downside projection level. If the commodity fails to maintain the downside momentum, a reversal and trading higher could potentially unfold. If this scenario was to occur the target for today is 41.93, being the commodity’s Average True Range (ATR) downside projection level of today. MORE ON ACFXblog.com Quote Link to comment Share on other sites More sharing options...
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