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Thread: Daily Market News by Xtreamforex.com

  1. #21
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    Default EUR/USD Technical Analysis for January 24, 2017

    Possible trading range for today 1.0745 - 1.0772
    The EURUSD pair continues to trade strongly as the dollar weakness continues across the board. When the new year began, everyone expected the dollar strength to return.
    EUR/USD pair possibly will find its immediate support at 1.0705. If, market breaks the first support then it will go for the following support to test. Following supports are 1.0684 and 1.0649.
    On the other side, we found immediate resistance at 1.0775 from our EUR/USD technical analysis. If, market breaks the primary resistance level then, for sure market will go for the new resistance level 1.0796 and 1.0831.

    #economic #forex #Economicdata #daytrading #xtreamforex

  2. #22
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    Default GBPUSD Forecast | Daily Technical Analysis for January 25, 2017

    GBPUSD Technical Forecast Overview

    Yesterday Closed 1.2521
    Today Open 1.2521
    Day’s Range 1.2513 - 1.2542
    52 wk Range 1.1450 - 1.5020
    1-Year Return - 12.04%

    GBPUSD Technical Support and Resistance

    Possible trading range for today 1.2513 - 1.2542
    GBPUSD pair possibly will find the immediate support at 1.2442. If, market breaks the first support then it will go for the following support to test. Following supports are 1.2363 and 1.2311.
    On the other side the market has immediate resistance at 1.2573. If, market breaks the primary resistance level then, market will go for the new resistance level 1.2625 and 1.2704.

    GBPUSD Fundamental Analysis

    We had mentioned the same thing in our forecast yesterday where we had said that the ruling was expected to uphold the earlier decision which made the Parliament approval mandatory. We had also mentioned that though this would be good for the pound overall, there was a likelihood of a buy the rumor, sell the fact kind of move and this is what we saw yesterday as well as the pair crashed through 1.2500 and went as low as 1.2420 following the ruling but then it spent the rest of the day recovering. As of this morning, it has managed to recover its entire loss and sits below 1.2550 and we believe that this move in the pound has the legs to carry it as far as 1.27 or 1.28. This ruling is positive for the pound in the short term but its long term effects and the subsequent delays could place a lot of pressure on the pound in the medium term.
    We do not have any major news from the UK but we have the oil inventory data from the US later on in the day which has the capacity to bring in risk into the markets. We believe that the GBPUSD pair will consolidate through the day with a bullish bias.


    EURUSD Forecast | Daily Technical Analysis for January 25, 2017

    EURUSD Technical Overview

    Yesterday Close 1.0731
    Today Open 1.0731
    Day’s Range 1.0722 - 1.0738
    52 wk Range 1.0339 - 1.1616
    1-Year Change - 1.09%

    EURUSD Technical Support and Resistance

    Our Possible trading range for today 1.0722 - 1.0738
    EURUSD pair possibly will find its immediate support at 1.0707. If, market breaks the first support then it will go for the following support to test. Following supports are 1.0683 and 1.0649.
    On the other side, we found immediate resistance at 1.0765 from our EURUSD technical analysis. If, market breaks the primary resistance level then, for sure market will go for the new resistance level 1.0799 and 1.0823.
    EURUSD Fundamental Analysis
    We had mentioned in our forecast yesterday that the EURUSD pair was at a crucial region of resistance which it would find hard to break through soon and that’s what we have been seeing over the past 24 hours as the pair consolidates just below that region, unable to find a way through. And with the twitter happy President of the USA also choosing to remain silent for a day, contrary to his character, the dollar also got a little breather and it managed to hold its own against all the currencies and this was another reason for the consolidation and ranging in the EURUSD pair.
    We have the German IFO business climate which is expected to continue to show up the strong German economy and we also have the oil inventory data from the US and any drop in that should be able to increase the oil prices and increase the risk around the markets.

  3. #23
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    Default USDJPY Forecast for the Week of January 30, 2017

    The USDJPY had a volatile week in terms of changes in direction. As far as the price action is concerned

    Read more: https://www.xtreamforex.com/Educatio...nuary-30-2016/

    #forex #xtreamforex #forexforecast #forextrading #support_resistance

  4. #24
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    Default GBP USD Forecast | Daily Technical Analysis for February 2, 2017


    GBP USD Technical Overview


    Yesterday Closed 1.2660
    Today Open 1.2660
    Day’s Range 1.2654 – 1.2680
    52 wk Range 1.1450 – 1.5020
    1-Year Return – 12.01%

    GBPUSD Technical Support and Resistance

    Possible trading range for today 1.2654 – 1.2680

    GBP USD Fundamental Analysis

    The GBP USD pair had a pretty strong day yesterday as the pound is only one of the very few currencies that seems to be capable of holding on by itself whenever there is dollar strength. There seems to be some intrinsic strength built within the pound and the reason for that could be the continuing good economic data from the UK. This has been holding up the pound and that is the reason why the corrections have been shallow and have been met with some quick bounces.
    Today is going to be a key day for the GBP USD pair as we have the BOE rate announcement and the policy meeting minutes and we also have the quarterly inflation report from the UK as well. The rate is expected to be kept on hold but the BOE will have to act out a tough balancing act as it needs to take care of the economy and also ensure that the impact of the Brexit doesn’t hit the economy too hard. With the government, yet unclear on how exactly the whole Brexit process is going to pan out, the markets would be expecting the BOE to help out and do the needful in a strong manner to give out some confidence to the market in the pound. It remains to be seen whether that is addressed in the statement and the inflation report. The pair is in a key area now and these data would be valuable in determining the short-term direction of the pound.

    Read More: https://www.xtreamforex.com/Educatio...bruary-2-2017/

  5. #25
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    Default EUR USD Forecast | Daily Technical Analysis for February 3, 2017

    EUR USD Technical Overview

    Yesterday Close 1.0759
    Today Open 1.0759
    Day’s Range 1.0745 – 1.0772
    52 wk Range 1.0339 – 1.1616
    1-Year Change – 3.08%
    EUR USD Technical Forecast

    Our Possible trading range for today 1.0745 – 1.0772

    EUR USD Fundamental Analysis

    It’s been a very untidy past 24 hours for the EURUSD with the pair not knowing where to go and how to go about in a specific direction. It has been trying for a week or so to break through the glass ceiling at around the 1.0800 region and the best attempt at that region was made yesterday when it went as high as 1.0828 but it had to beat a hasty retreat as large scale selling started at that point and it fell back below 1.0800 and it trades just above 1.0760 as of this writing.
    Its the NFP day today, probably one of the most important days in every month where a huge amount of volatility is bound to be witnessed. The last few employment reports have become especially important as the Fed has made it clear that if the incoming data continues to be good,
    Apart from the NFP today, we have the average wage earnings data as well and the non-manufacturing PMI data from the US. We still believe that the dollar will ultimately strengthen and we do believe that the employment report today would come out strong to help support the dollar.

    Read More: https://www.xtreamforex.com/Educatio...bruary-3-2017/

  6. #26
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    Default Australia: Week ahead - TDS

    Australia: Week ahead - TDS
    Australia: Week ahead - TDS
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    Analysts at TDS offer fresh insights on the key macro events due on the cards from Australia in the week ahead

    Read More:https://www.fxstreet.com/news/australia-week-ahead

  7. #27
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    GBP/USD – Inverted Hammer awaits bullish follow through
    Wednesday’s inverted hammer candle on the GBP/USD chart offers a ray of hope for GBP bulls, although the strong US data releases and the heightened odds of the Fed rate hike in December could play spoil sport.

    ReadMore:https://www.xtreamacademy.com/2017/1...follow-through

  8. #28
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    AUD/USD revisits session lows on RBA rate cut talk
    AUD/USD fell back to a session low of 0.7772 after a Wall Street Journal report said that RBA board member Ian Harper sees scope for a rate cut if consumption across the economy loses momentum entirely.

    ReadMore:https://www.xtreamacademy.com/2017/1...-rate-cut-talk

  9. #29
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    GBP/JPY breaks the falling channel on BOE rate hike talk
    GBP/JPY breached the falling channel to the upside and clocked a high of 149.07 as investors ignore political uncertainty in the UK and focus on increasing

    ReadMore:https://www.xtreamacademy.com/2017/1...rate-hike-talk

  10. #30
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    EUR/USD: Further downside in play ahead of Catalan independence outcome
    The EUR/USD pair breached the 1.1800 leaves for the first in three days on Monday, set-off the week on the defensive, as political uncertainty surrounding Catalonia’s independence vote remains the key focus

    ReadMore:https://www.xtreamacademy.com/2017/1...ndence-outcome

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