Daily Market News by Xtreamforex.com

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  1. #231
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    Daily Market News by Xtreamforex.com
    EUR/USD: Recovery rally to double base neck area likely if Italy-German spread dips under 300 bps

    The EUR/USD combine made a bullish outside-day at the key help of 1.1432 on Friday,flagging the pullback from the October 16 high of 1.1622 has likely finished. After the acceptance 1.1622 above found and it will only confirmed on double bottom bullish reversal. Moreover, If EUR/USD pair goes above 1.1535 with prospects of rally to 1.1622 with high bullish outside day candle o Friday. On Friday, the evaluations office moody’s minimized Italy’s credit rank from Baa2 to Baa3 yet kept up stable viewpoint .The speculators were stressed that Moody’s may cut the country beneath venture review.Essentially ,Italian markets moody’s decision fell short of investors goes on worst expectations today. According to the Xtreamforex expectations the spread between 10 years Italy and German yield will likely goes down and the reached below 300 basis points which are lifting EUR/USD on peak.
    AUD/USD back more than 0.7100 after brief Monday plunge
    The AUD/USD brought a fast execution down to 0.7087 in Monday volume compelled early exchanging session before re -coupling back over the 0.7100 handle, and the match is currently exchanging barely short of 0.7110 as more extensive markets impulse start driving requests over the table.The US-China trade war to Saudi-Arabia is continued geo-political tensions slaying of the journalist critical of the royal family to the US impending rampage are all collecting at the top of the barrel keeping the major Fx pairs in holding patterns as the new trading weeks get underway. Australia residential economy keeps on adjusting on a blade edge ,with developing unease at potential aftermath from the US exchange war ,which undermines to keep hampering development prospects for the Chinese economy.
    USD/JPY Recovers misfortunes as S&P 500 prospects trim losses
    The USD/JPY combine has re- coupled from intraday lows and could transcend key obstructions of of 112.73 if the S&P 500 fates twin positive and European report gains.Earlier today, the USD/JPY pair trading largely unchanged on the day at 112.57 or having hit low of 112.35. The decay saw in early Asia was likely connected with the 0.55% drop in the S&P 500 prospects and the subsequent ascent popular for the counter hazard JPY. BE that as it may, the list fates are presently exchanging level to the positive pivot may have helped USD/JPY recover balance.
    Gold administered by the DXY with bulls looking at the break on the 96 handle
    Gold was balancing out on the 21-4 hrs SMA on Friday and stays in a bullish area there are still with the DXY losing its balance by 0.3% finishing a week ago at 95.68 after an attractive 0.6% keep running for the long stretch of the October up until now.The greenback is still up multiyear to date and stays troublesome to the gold bulls considering the Fed’s way of fixing underscored in the most recent FOMC minutes.However, Be that as it may, there are lot of dangers out there which urging financial specialists to pull capital from worldwide values search for the sanctuary status that gold offers and bids to the speculators.
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    Xtreamforex USD/JPY Price forecasts- US dollar separates against Japanese yen in hazard off move

    The US dollars are starting to see more risk averse trading and broke down during trading session on Tuesday.The market looks extremely unsafe at this level ,yet this combine has a lot of help underneath , so underneath so its probably that we will keep on discovering purchaser in the long run.The US dollars breaking towards the 112 levels it does goes down significantly during the Tuesday session. Its obvious by our expectations that we are starting to wind up exceptionally touch in global markets generally speaking ,the USD/JPY combine will be a channel with regards to the outflow of this.
    Gold Price Forecasts – Gold markets rally against amid Tuesday sessions
    The God markets show extreme agitation in general and continues to attract safe haven flows as the markets. Gold market looks prepared to reach towards the $1250 level , however we have given back a touch of the auditions late in the day.Gold markets have unmistakably broken over the multi day moving normal, and now look liable to keep on going higher dependent on the bullish activity that we have seen. As of right now, I trust that the market will presumably reach towards the $1250 level, a zone that has pulled in the two purchasers and venders previously. As of now, on the every day diagram it looks as though we are endeavoring to skip around between $25 levels, and I think with the multi day EMA swinging to the upside, clearly Gold is prepared to make a genuine endeavor at a breakout. In any case, I would search for here and now pullbacks with the end goal to get somewhat of an esteem play and obviously show signs of improvement passage point.
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    Forex today: chance wobbles on exchange war strains, dollar for the most part higher near YTD highs

    Forex today was about value costs where Wall Street moved over and made for a session of two parts, finishing off with support of the bears. The greenback was for the most part higher while vulnerabilities kept on constraining the euro – The DXY exchanged near YTD highs. Along these lines, the Dow Jones Industrial Average dropped 245.05, or 0.99%, to 24,443.26, the S&P 500 dropped 17.43 points, or 0.66%, to 2,641.26 and the Nasdaq Composite fell 116.92 points, or 1.63%, to 7,050.29. The USD was for the most part more grounded against the G10. US treasury yields lifted over the bend with 10-year up 2 bps. EUR/USD is treading bearish waters without a real existence ring with cost gathering at the highest point of the bearish channel and just beneath the 4hr 21-SMA.

    Xtreamforex – EUR/USD levels to watch

    Support levels: (1.1350) (1.1328) (1.1294)

    Resistance levels: (1.1406) (1.1440) (1.1462)
    Read more:Forex News Archives - Forex Market News & Analysis

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    EUR/USD has dissolved here and now falling trend line in front of US NFP and wage development discharge

    The EUR/USD cleared a key falling trend line jump yesterday, opening entryways for a more grounded restorative rally. Non farm payrolls presumably bounced back by 190,000 employments in October and normal hourly procuring likely expanded by 0.2 percent on the month. The EUR/USD match moved over 1.14 yesterday not surprisingly, affirming an upside break of the trend line associating the Oct. 16 high and Oct. 22 high. The upside break of the corner to corner opposition has opened the ways to a more grounded recuperation rally toward the following obstruction of 1.1463 (Oct. 4 low).The US dollar, be that as it may, will probably get a solid offer if the US information features a get in wage-value expansion, adding confidence to the Fed’s view that financing cost arrangement would need to turn prohibitive for quite a while.
    Xtreamforex – EUR/USD levels to watch
    Support levels: (1.1335) (1.1259) (1.1215)
    Resistance levels: (1.1455) (1.1499) (1.1575)

    GBP/USD hoping to cling to 1.3000 with US NFP in the barrel
    The GBP/USD is exchanging firmly close to the 1.3000 noteworthy handle after Thursday’s rally on revived Brexit trusts, and the Cable heads into Friday’s activity in front of another guard US NFP appearing.The Sterling saw some truly necessary lift yesterday after features broke that some advancement may at long last be being made on EU-UK Brexit arrangements; yesterday observed EU pioneers in Brussels calm monetary markets with the declaration that European merchants will keep up access to basic UK subsidiaries settling components in case of a muddled Brexit, yet the features were adequate for Pound bulls to start a concise rally. Weight on the US Dollar in the more extensive forex markets cape sent the Greenback bring down no matter how you look at it, and the GBP/USD is appreciating a relief from typical offering.
    Xtreamforex – GBP/USD levels to watch
    Support levels: (1.2825) (1.2651) (1.2551)
    Resistance levels: (1.3099) (1.3199) (1.3373)
    Read more:Forex News Archives - Forex Market News & Analysis

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    EUR/USD: Trapped in a falling wedge in front of the US midterm races

    The EUR/USD has graphed a falling wedge design on the day by day diagram. The US midterm races are required to create a part congress. Falling wedge breakout likely on Democrat triumph in the two houses. Caught in a falling wedge design, the EUR/USD is at present exchanging at 1.1384.The cash combine was emphatically offered Friday and watched set to take out the upper edge of the wedge, before a superior than-anticipated non-cultivate payrolls number and the disarray encompassing the US-China exchange bargain put an offer under the greenback. On the other hand, a Democrat triumph in the two chambers may hurt the USD and could yield a falling wedge breakout in the EUR/USD (a bear-to-bull incline change). This is on account of Democrats need to raise the corporate expense rate to support social projects.
    Xtreamforex – EUR/USD levels to watch

    Support levels – (1.1354) (1.1321) (1.1269)

    Resistance levels
    – (1.1439) (1.1491) (1.1524)
    GBP/USD falls back underneath 1.30 on clashing Brexit reports
    The British Pound is feeling the draw of gravity on Telegraph report. The GBP/USD is back underneath 1.30, having hit a high of 1.3023 prior today. The British Pound is seeing a strong two-path business in Asia. The cash combine discovered offers in early Asian in light of a Sunday Times report expressing that Prime Minister May has arranged an all-UK traditions manage the EU, which would resolve the Irish outskirt issue. These clashing reports are entangling matters for the GBP dealers. At press time, the money combine is exchanging at 1.2990, having timed a high and low of 1.3023 and 1.2986, separately. The mental level of 1.30 has been put to test since Thursday, however a persuading close over that level has so far stayed subtle.
    Xtreamforex – GBP/USD levels to watch

    Support levels – (1.2932) (1.2896) (1.2842)
    Resistance levels – (1.3022) (1.3076) (1.3112)
    Read more:Forex News Archives - Forex Market News & Analysis

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    EUR/USD broadens increases above 1.1400 in front of US mid-term races

    The EUR/USD match broke to the upside amid the American session and achieved a new every day high at 1.1423. Close to the finish of the session was merging increases, close to the best and 70 pips over the low, in front of the US mid-term races. The ongoing move higher occurred in the midst of a slide of the US dollar in all cases. The DXY dropped to 96.26 and it was going to post the most reduced close since October 23 as US yields pulled back. US decisions on Tuesday could impact on the US dollar relying upon the outcomes that are probably going to begin turning out amid Wednesday’s Asian session. Likewise on Wednesday, the FOMC will begin its 2-day meeting. No adjustment in rates is normal and the effect on business sectors could be minor thinking about that there won’t be a question and answer session.
    Xtreamforex EUR/USD levels to watch
    Support levels – (1.1368.)( 1.1328) ( 1.1300)
    Resistance levels – (1.1436) (1.1464) (1.1504)
    Read more:Forex News Archives - Forex Market News & Analysis

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    Technical Overview of EUR/USD, GBP/USD and USD/CHF Currency Pairs

    EUR USD

    The EUR traded Higher against the USD and closed at 1.122.

    The New Home Sales indicator reflects sales of newly constructed residences in the United States in the specified month. It measures new single-family home sales.

    The indicator is used for measuring the US housing market conditions. Index growth may have a positive effect on dollar quotes.

    According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.12023, and a fall through could take it to the next support level of 1.11848. The pair is expected to find its first resistance at 1.12492, and a rise through could take it to the next resistance level of 1.12786.

    Previous Day range was 46.9 and Current Day Range is 16.3.

    GBP USD

    The GBP traded higher against the USD and closed at 1.304.

    United Kingdom Gross Domestic Product q/q is the key indicator of the national economy growth. The index shows changes in the market value of goods and services produced in the country in the given quarter compared to the previous quarter. The GDP is calculated using statistical information (using national economic indicators), forecast models and expert evaluations.

    GDP growth can be seen as positive for the pound sterling.

    The pair is expected to find support at 1.29794, and a fall through could take it to the next support level of 1.29186. The pair is expected to find its first resistance at 1.31551, and a rise through could take it to the next resistance level of 1.32700.

    GBP USD previous Day range was 175.7 and Current Day Range is 34.8.

    USD CHF

    The USD traded higher against CHF and closed at 0.9956.

    According to the analysis, pair is expected to find support at 0.99365, and a fall through could take it to the next support level of 0.99169. The pair is expected to find its first resistance at 0.99744, and a rise through could take it to the next resistance level of 0.99927.

    USD CHF previous day range was 37.9 and current day range is 15.7.

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    Technical Overview of AUD/USD, USD/JPY and NZD/USD Currency Pairs

    AUD USD

    The AUD traded lower against the USD and closed at 0.7111.

    Decisions regarding this interest rate are made by the Reserve Bank Board, and are explained in a media release which announces the decision at 2.30 pm after each Board meeting.

    RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

    According to the Analysis, The pair is expected to find support at 0.70994, and a fall through could take it to the next support level of 0.70874. The pair is expected to find its first resistance at 0.71275, and a rise through could take it to the next resistance level of 0.71436.

    Previous Day range was 28.1 and Current Day Range is 47.5.

    USD JPY

    The USD traded higher against the JPY and closed at 111.342.

    The Nondefense Capital Goods Orders Excluding Aircraft, released by the US Census Bureau, measures the cost of orders received by manufacturers for capital goods (capital goods are durable goods used in the production of goods or services), which means goods planned to last for three years or more, excluding the defense and aircraft sectors. As those durable products often involve large investments they are sensitive to the US economic situation. Generally speaking, a high reading is bullish for the USD, while a low reading is seen as Bearish.

    The pair is expected to find support at 110.967, and a fall through could take it to the next support level of 110.593. The pair is expected to find its first resistance at 111.577, and a rise through could take it to the next resistance level of 111.813.

    USD JPY previous Day range was 6100 and Current Day Range is 1640.

    NZD USD

    The NZD traded lower against USD and closed at 0.6805.

    According to the analysis, pair is expected to find support at 0.67931, and a fall through could take it to the next support level of 0.67815. The pair is expected to find its first resistance at 0.68267, and a rise through could take it to the next resistance level of 0.68487.

    NZD USD previous day range was 33.6 and current day range is 27.5.

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    Weekly Forecast of Crude Oil (USOil.x)

    Oil ignores the bearish API inventory report released day before yesterday and hit five-month highs a few minutes before press time.
    OPEC's output hit a four-year low in March. The Energy Information Administration is expected to show the US oil inventories dropped last week.

    US crude oil inventories unexpectedly rose by 3 million barrels last week, the American Petroleum Institute said on Tuesday. Oil prices, however, have shrugged off the bearish inventory report, and continue to cheer the OPEC-led supply cuts.

    According to the analysis, USOil.x pair is expected to find support at 61.91, and a fall through could take it to the next support level of 61.21. The pair is expected to find its first resistance at 63.02, and a rise through could take it to the next resistance level of 63.43.

    USOil.x previous day range was 11100 and current day range is 4300.

    The Energy Information Administration (EIA) data due later today is expected to show the US crude inventories dropped 100,000 barrels last week. A bigger drawdown could end up pushing WTI higher to $63.59 (resistance of the June 2018 low as per the weekly chart).
    Visit:- Weekly Forecast of Crude Oil (USOil.x) - Forex Educations & Market Research

    cbrxx-ixl6x.jpg

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    Technical Overview of EUR/USD, NZD/USD and GBP/USD Currency Pairs

    EUR USD

    The EUR traded higher against the USD and closed at 1.122.

    Nonfarm Payrolls present the number of new jobs created during the given month, in all non-agricultural sectors of the U.S.

    The indicator growth can have a positive effect on dollar quotes.

    According to the Analysis, The pair is expected to find support at 1.12015, and a fall through could take it to the next support level of 1.11832. The pair is expected to find its first resistance at 1.12427, and a rise through could take it to the next resistance level of 1.12656.

    Previous Day range was 41.2 and Current Day Range is 11.6.

    NZD USD

    The NZD traded higher against the USD and closed at 0.6752.

    The Average Hourly Earnings released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.

    The pair is expected to find support at 0.67336, and a fall through could take it to the next support level of 0.67150. The pair is expected to find its first resistance at 0.67850, and a rise through could take it to the next resistance level of 0.68178.

    NZD USD previous Day range was 51.4 and Current Day Range is 15.1.

    GBP USD

    The GBP traded higher against USD and closed at 1.3071.

    According to the analysis, pair is expected to find support at 1.30236, and a fall through could take it to the next support level of 1.29759. The pair is expected to find its first resistance at 1.31539, and a rise through could take it to the next resistance level of 1.32365.

    GBP USD previous day range was 130.3 and current day range is 23.5.

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