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    Default Daily Market News by Xtreamforex.com

    Daily Market News by Xtreamforex.com
    EUR / USD

    The EUR declined 0.32% against the USD on Friday and closed at 1.1157.

    The Euro was under pressure early in the prior week as sentiment surged towards the USD following some comments from the Fed?s Janet Yellen which suggested that the requirements for a rate hike had almost been met. Subsequently, it is salient to take a quick look at what occurred last week and what is potentially on the horizon for the pair.

    The pair is expected to find support at 1.1172 and fall through could take it to the next support level 1.1169

    The pair is expected to find its first resistance at 1.1180 and arise through could take it to the next resistance level of 1.1185

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    FOREX – Market Morning Briefing

    The expectation of a rate hike next week turned lower with some disappointing US data released yesterday. Volatility and some choppy movement are possible in the currency pairs before the FOMC.

    The US Dollar Index (95.289) is likely to remain choppy in the 95.67-94.70 region before the FOMC next week.

    The Euro (1.1241) is choppy and may trade sideways for a few sessions. The currency could be trapped between immediate resistance and support levels near 1.13 and 1.120 respectively.

    Dollar Yen (102.049) is trading along the resistance near 103 (revised from 103.50-104) and is trapped in the 101-103 region for now. Scope of a fall towards 100.00-99.55 is possible while 103 holds but that may come in only in the latter half of next week. Else continuous re-testing of the upper resistance could lead to an eventual breakout on the upside in the longer term. As mentioned yesterday the broad 100-105 region could hold on for several days.

    Read More On: XtreamForex.com

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    EUR/USD – Daily Market News BY XtreamForex

    The EUR declined 0.21% against the USD and closed at 1.1200. The currency pair is trading below its 20 Hr and 50 Hr moving averages.

    Germany’s producer price index unexpectedly dropped by 0.1% on a monthly basis in August, compared to market expectations for a flat reading and following a rise of 0.2% in the prior month.

    Macroeconomic data released in the US indicated that housing starts dropped more-than-expected by 5.8% on a monthly basis in August, to an annual rate of 1142.0K, dampening optimism over the health of the nation’s housing sector. Markets were anticipating housing starts to ease to a level of 1190.0K, compared to a revised level of 1212.0K in the previous month. Additionally, the nation’s building permits surprisingly fell by 0.4% MoM in August, to an annual rate of 1139.0K, compared to a revised reading of 1144.0K in the previous month.

    During Asian session the pair was trading at 1.1154, with the EUR trading marginally higher against the USD from yesterday’s close.

    The pair is expected to find support at 1.1128, and a fall through could take it to the next support level of 1.1101.

    The pair is expected to find its first resistance at 1.1197, and a rise through could take it to the next resistance level of 1.1239.

    All investors attention to the outcome of the Federal Reserve’s monetary policy meeting, scheduled to be held later today.

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    FOREX – Market Morning Briefing By xtreamForex

    The Major currencies gained against the Dollar last night even as Equities fell globally. But, most of them are back near levels seen yesterday morning and could cede some more ground to the Dollar. The really big gainer is the Aussie (0.7658) which has moved up from a low of 0.7610, as it seems to be benefitting from strength in Commodities in general. As suggested yesterday, a rise towards 0.7710-45 is possible.

    Crucial Support at 100 is holding on Dollar-Yen (100.68) so far and a test of 101.90 may be possible. But there will be a sharp decline in case the Support at 100 breaks. Euro (1.1240) has found Resistance near 1.1280 last night and could dip towards 1.1200-1150.

    The Pound (1.2973) is appearing increasingly vulnerable to a fall towards 1.2825-2785, which could accelarate into a deeper decline later. It is already losing against the Euro (EURGBP = 0.8665) and Yen (GBPJPY = 130.66). However, like Dollar-Yen, the Pound-Yen might not break below 129.00 easily.

    Asian currencies, especially the Malaysian Ringgitt (4.1246),are relatively weak. On the other hand, the BRIC currencies, in general, remain strong at the moment, but could give back their gains in the coming weeks.

    Read Commodities and Interest Rate Market Morning Briefing on Xtreamforex

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    EUR/USD
    Technical Overview:
    Prev. Close 1.1211
    Open 1.1211
    Day’s Range 1.1205 - 1.1216
    52 wk Range 1.0538 - 1.1616
    1-Year Return - 0.04%
    Support and Resistance:
    Daily Camarilla Technical analysis shows that, the EUR/USD pair may finds the immediate support at 1.1207 below which 1.1203 and 1.1199 could be tested. On the other side the immediate resistance 1.1215 and may go for further test 1.1219. A break beyond the last, doors will open for a test of 1.1223.
    Technical Indication: Strong Sell

    GBP/USD
    Technical Overview:
    Prev. Close 1.2836
    Open 1.2836
    Day’s Range 1.2829 - 1.286
    52 wk Range 1.2796 - 1.5513
    1-Year Return - 15.4%
    Support and Resistance:
    Daily Camarilla Technical analysis shows that GBP/USD pair finds the immediate support is placed at 1.2831 below which 1.2819 and 1.2806 could be tested. On the other side the immediate resistance 1.2855. A break beyond the last, doors will open for a test of 1.2867 and from there to 1.2880.
    Technical Indication: Strong Sell

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    Default Daily Forex Technical Analysis by XtreamForex

    EUR/USD
    Technical Overview:
    Prev. Close 1.1054
    Open 1.1054
    Day?s Range 1.1042 - 1.1068
    52 wk Range 1.0538 - 1.1616
    1-Year Return - 2.75%
    Support and Resistance:
    Daily Camarilla Technical analysis shows that, the EUR/USD pair may finds the immediate support at 1.1050 below which 1.1041 and 1.1033 could be tested. On the other side the immediate resistance 1.1066. If market breaks the immediate resistance then door will open for a test of 1.1075 and from there to 1.1083.
    Market Trending: Down

    GBP/USD
    Technical Overview:
    Prev. Close 1.2124
    Open 1.2124
    Day?s Range 1.2106 - 1.2319
    52 wk Range 1.1450 - 1.5513
    1-Year Return -20.09
    Support and Resistance:
    Daily Camarilla Technical analysis shows that GBP/USD pair finds the immediate support is at 1.2096 below which 1.2070 and 1.2043 could be tested. On the other side the immediate resistance 1.2150. If market breaks the immediate resistance then door will open for a test of 1.2176 and from there to 1.2203.
    Market Trending: Down

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    Daily Forex Technical Analysis by XtreamForex



    EUR/USD
    Technical Analysis Overview:
    Prev. Close 1.0986
    Open 1.0991
    Day’s Range 1.0961 - 1.0991
    52 wk Range 1.0538 - 1.1616
    1-Year Return - 0.32%

    Support and Resistance:
    Daily Camarilla Forex Technical analysis shows that, the EUR/USD pair may find the immediate support at 1.0982 below which 1.0980 and 1.0979 could be tested. On the other side the immediate resistance 1.0984 and may go for further test 1.0986. A break beyond the last, doors will open for a test of 1.0987

    Upcoming Economic News:
    1. EUR - German Retail Sales m/m at 10.00 AM
    2. EUR - CPI Flash Estimate y/y at 01.00 PM
    3. EUR - Core CPI Flash Estimate y/y at 01.00 PM
    4. EUR - Prelim Flash GDP q/q at 01.00 PM
    5. EUR - Italian Prelim CPI m/m at 01.00 PM


    GBP/USD
    Technical Overview:
    Prev. Close 1.2192
    Open 1.2187
    Day’s Range 1.2176 - 1.2215
    52 wk Range 1.1450 - 1.5498
    1-Year Return - 21.01%

    Support and Resistance:
    Daily Camarilla Forex Technical analysis shows that GBP/USD pair may find the immediate support at 1.2204 below which 1.2200 and 1.2197 could be tested. On the other side the immediate resistance 1.2210. A break beyond the last, doors will open for a test of 1.2214 and from there to 1.2217.

    Upcoming Economic News:
    1. GBP - Net Lending to Individuals m/m at 12.30 PM
    2. GBP - M4 Money Supply m/m at 12.30 PM
    3. GBP - Mortgage Approvals at 12.30 PM

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    USD/JPY
    Technical Overview:
    Prev. Close 104.14
    Open 104.14
    Day’s Range 103.67 - 104.17
    52 wk Range 99.08 - 123.69
    1-Year Return - 13.81%

    Support and Resistance:
    Daily Camarilla Technical analysis shows USD/JPY pair may find the immediate support at 103.69 below which 103.67 and 103.65 could be tested. On the other side the immediate resistance 103.73. A break beyond the last, doors will open for a test of 103.75 and from there to 103.77.
    Upcoming Important Economic News:
    1. USD - ADP Non-Farm Employment Change at 03.15 PM
    2. USD - Crude Oil Inventories at 05.30 PM
    3. USD - FOMC Statement at 09.00 PM
    4. USD - Federal Funds Rate at 09.00 PM


    USD/CAD
    Technical Overview:
    Prev. Close 1.3390
    Open 1.3390
    Day’s Range 1.3384 - 1.3402
    52 wk Range 1.2458 - 1.4692
    1-Year Return +2.24%

    Support and Resistance:
    Daily Camarilla Forex Technical analysis shows USD/CAD pair may find the immediate support at 1.3383 below which 1.3376 and 1.3369 could be tested. On the other side the immediate resistance 1.3397. A break beyond the last, doors will open for a test of 1 1.3404 and from there to 1.3411.
    Upcoming Economic News:
    1. CAD - Gov Council Member Wilkins Speaks at 08.30 PM

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    EUR USD Forecast for the Week 07 to 11 November,2016

    EUR/USD recovered at the beginning of November. EUR/USD had a highly productive time last week as it climbed to its highs over the last 3 weeks. It was largely helped by the weakness in the USD across the board as global risks continued to dominate the headlines. Euro-zone inflation remains subdued. Despite a rise in the headline CPI, core inflation did not budge, causing a headache for the ECB. GDP growth was OK as 0.3%, but also failed to excite. In the US, the FED and the NFP had their word ahead of the elections. Clinton remains in the lead, albeit a narrower one, due to the FBI Effect. The US Non-Farm Payrolls were quite upbeat, with the biggest gain in wages since 2009, but markets focus on the elections.

    EUR USD Technical Forecast:
    Previous week close 1.1138
    Current Week Open: 1.1061
    Today’s Market Range: 1.1055 - 1.1141
    52 wk Range: 1.0538 - 1.1616

    Support and Resistance Forecast:
    S 1: 1.1119
    S 2: 1.1099
    S 3: 1.1080

    R 1: 1.1157
    R 2: 1.1177
    R 3: 1.1196

    Read More: Daily & Weekly Technical Analysis By XtreamForex

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    Default Daily Forex Market News 10/11/2016

    EUR USD Market News

    Today forex technical market news shows EUR market decreased -0.99% against the USD yesterday. EUR USD market closed at 1.0910. Today market will range 1.0909 – 1.0953.

    Today the EUR / USD started at 1.0910 in Asia, down from yesterday close. The EUR USD is trading now at 1.0945, which is 0.30% up from today’s opening price.
    EUR/USD retreated 0.83% to 1.0935, off a two-month peak of 1.1300 hit overnight.
    The dollar initially plunged after Trump was declared the 45th U.S. President, confounding expectations for a Democratic victory.

    Trump received a call from his opponent Hillary Clinton to concede the presidency, after he clinched victories in the key battleground states of Florida, North Carolina and Ohio.

    Following the market news, European Central Bank Governing Council member Ewald Nowotny said the ECB is ready to intervene in markets in an emergency.

    Read More News https://www.xtreamforex.com

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