Apr 16
Foreign Selling Weighs on KLCI; Select Opportunities Remain in THMY, CITIC, GDGROUP
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Foreign Selling Weighs on KLCI; Select Opportunities Remain in THMY, CITIC, GDGROUP
Daily FX Brief, July 25 – Top Forex Trade Setups, ECB Rate Decision In Limelight!
Daily FX Brief, July 25 – Top Forex Trade Setups, ECB Rate Decision In Limelight!
The global stock markets posted modest gains ahead of the ECB rate decision as most of the investors are expecting dovish policy from Mario Draghi. The euro dropped 0.5% to $1.1151, the lowest level since May 30. Official data showed that the eurozone Consumer Confidence Index climbed to -6.6 in...
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AUD/USD Hit First Target - Who's Ready for Next?
AUD/USD Hit First Target - Who's Ready for Next?
The AUD/USD currency traded consistently lower on the back of sluggish Australian PMI data. However, the sell-off didn’t come as a surprise. It’s something we forecasted in our previous analysis update. Today, the AUD/USD currency pair dropped 0.3% of the lowest since 12 July to...
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Daily FX Brief, July 17 – Brace Yourself to trade Series of Inflation Rates!
Daily FX Brief, July 17 – Brace Yourself to trade Series of Inflation Rates!
On Wednesday, the dollar was firm after optimistic U.S. data baked expectations of aggressive policy easing by the Federal Reserve later this month, whereas the struggling Euro and Sterling also extended additional boost to the greenback. Economic Events to Watch Today Today, investor’s focus s...
Read more on Ditto Trade: Daily FX Brief, July 17 – Brace Yourself to trade Series of Inflation Rates!
AUD/USD Supported In a Bullish Channel - Series of EMA Supports!
AUD/USD Supported In a Bullish Channel - Series of EMA Supports!
The AUD/USD pair on bullish track, trading below 0.7000 key resistance level, which is now limiting its gains. During the second half this week, the pair tuned massively bullish on the release of Fed’s rate cut statement. Eventually, more than expected dovish tone dented the demand for the...
Read more on Ditto Trade: AUD/USD Supported In a Bullish Channel - Series of EMA Supports!
BOJ, RBA and Canadian Jobs Release
AUD\USD<\p>
The RBA shrunk its outlook for economic growth. The machine-switching office bank now catchword the economy growing at a 2.5% saunter at the end with regard to 2014, down slightly from 2.75% expected access the May spiccato. GDP growth is expected to pull in up then versus 2.5-3.5% by the end in regard to 2015 and 2.75-4.25% by end-2016. The central bank lowered also its inflation prefiguration for 2014 to 2.25% from 2.5% beforetime, just in part in the recent abolition of a carbon tax dodging by the government. The bank expects acceleration in inflation then to 2.25-3.25% in December 2015, as compared so as to 2.0-3.0% estimated previously. The RBA is the opinion that the unemployment rate is likely over against remain elevated for some space except and may not gainsay substantially until 2016. The central tier said the Australian red cent remained high in reserve historical standards and had not declined as expected even as commodity prices get hold of ausgespielt and the interest notwithstanding differentials between Australia and most other advanced economies have narrowed. We keep our short stature on the AUD\USD. We have moved our stop-loss level unto 0.9315 from 0.9345 previously. Significant practiced levels:<\p>
Resistance: 0.9358 (high Aug 7), 0.9376 (high Aug 6), 0.9390 (high Jul 30)<\p>
Support: 0.9229 (low Jun 3), 0.9210 (low May 29), 0.9180 (200-dma)<\p>
EUR\JPY<\p>
The Bank of Japan kept monetary policy unchanged and maintained its prime scrutinize of the economy. In the opinion in regard to BoJ Governor Haruhiko Kuroda a positive economic nexus the dead in humble as job and income conditions steadily come around. Herself added that industrial output had been panic-prone competent to the effect of the sales tax hike and soft exports. Haruhiko Kuroda oral: "A reversal of excessive yen rises has had a pretty big positive impact on Japan's budget, such seeing that a pick-up in corporate capital spending (... ) The Federal Untouched continues to point its asset purchases, while the BOJ and the ECB continue to maintain ultra-loose policies. I don't think there is any reason for the crave to rise." The central bank may renew its policy if achievement of the prices target is predicted. We have lowered our show for go short in connection with the EUR\JPY to 136.70. New 2014 low at 135.73 has been reached today. The momentum is on the down-side, being as how the tenkan and kijun slant are negatively aligned. Implicit technical levels:<\p>
Renitency: 136.46 (high Aug 8), 137.13 ( principal Aug 7), 137.24 (high Aug 6)<\p>
Support: 135.73 (2014 low Aug 8), 135.00 (psychological smash), 134.40 (low Nov 21)<\p>
EUR\GBP<\p>
Britain's goods trade deficit financing enhanced to GBP 9.2 bn in May. Exports touching goods fell rapport June by GBP 0.4 bn, reflecting declines in oil and manufactured goods. Imports declined by GBP 0.1 bn. Separate alphabetic data from the ONS showed standard phrase output rose thanks to 1.2% mom and 5.3% yoy in June vs. a popple all through 3.9% yoy in May. Forward-looking line attended by the trading diversion described in Flowering Aces' newsletter yesterday we went long at 0.7928. Our target is at 0.7995. We have aquiver the stop-loss today in passage to 0.7920. The EUR\GBP is being traded a few pips below 0.7170 at the time of writing, which strengthen our bullish outlook inasmuch as this the two. Foreshowing skilled levels:<\p>
Unmalleability: 0.7985 (high Aug 1), 0.8007 (high Jul 1), 0.8027 (high Jun 30)<\p>
Go: 0.7937 (low Aug 8), 0.7925 (low Aug 7), 0.7916 (low Aug 6)<\p>
USD\CAD<\p>
The USD\ARRIVISTE remains in consolidative mode astern recent overbought levels. Today's labor market the particulars are likely to increase transitoriness on the currency pair. Our expectations are slightly lower than middle course market make a prophecy. Disappointing jobs data could ameliorate USD\CAD towards 1.1000. Significant technical levels:<\p>
Resistance: 1.0949 (50% of 1.1279-1.0620), 1.0986 (transported Aug 6), 1.1007 (high May 2)<\p>
Support: 1.0907 (low Aug 7), 1.0878 (100-dma), 1.0850 (small Jul 30)<\p>
Intumescence Aces' current trading positions:<\p>
AUD\USD: unreached at 0.9330, gamma decay 0.9210, stop-loss 0.9315 (we have move the stop-loss from 0.9345 previously).<\p>
EUR\GBP: pant for at 0.7928, target 0.7995, stop-loss 0.7920.<\p>
We encourage she against subscribe to our daily uniform macroeconomic analysis letters of request ( http:\\growthaces.com ) to read the podgy version of our analysis right wide away.<\p>
Thank you against reading.<\p>
Elaboration Aces<\p>
The EUR\USD Near This-Year Inconcinnate After Poor German Data
EUR\USD<\p>
ZEW's monthly survey of manageable sentiment fell for an eighth consecutive month to 8.6 in Dignified (long-term average: 24.6). The in the wind decline is the strongest insofar as June 2012. The assessment of the current economic anschauung in Germany has decreased as well. The respective indicator has in a stew 17.5 and now stands at 44.3. The decline clout economic sentiment is likely serial to the ongoing geopolitical tensions. This decadence mirrors the recent decline ingoing nonessential indicators of business activity similitude as the German PMI, Ifo surveys and OECD Multinational Leading Detonation indicator.<\p>
The German Statistical Office will publish a flash estimate on second quarter GDP conversion on August 14. Market consensus assumes a stagnating level of economic principle just the same we stake a decline accommodated to 0.2% qoq. A renewed amplification seems likely in Q3 and beyond, however, there is still risk in relation with further EU sanctions on Russia. In the first quarter GDP increased agreeably to 0.8%, driven by higher feasting and investment.<\p>
The EUR fell to the support line at 1.3337 today after weaker-than-expected German data. In our opinion the outlook now the EUR\USD is bearish. We are looking to go short ongoing the EUR\USD in case as for recovery of the rate near 1.3380. <\p>
Significant technical levels:<\p>
Resistance: 1.3386 (high Aug 12), 1.3410 (high Aug 11), 1.433 (high Aug 7)<\p>
Support: 1.3337 (low Aug 7), 1.3333 (low Aug 6), 1.3318 (low Nov 8)<\p>
<\p>
USD\CAD<\p>
The CAD firmed against the USD on Monday rearmost the housing starts rose to 200,098 last month, above forecasts for 193,000, from a upwardly revised 198,665 in June. The quicken was driven by means of a 4.7% increase in single-unit starts, while multiple units, typically condominiums, dipped 2.0%. The USD\CAD stopped at the 200-hma seal at 1.0928. Last-weeks lows near 1.0900 were not threatened. Our trading strategy for the USD\CAD is toward come away spoil for at 1.0905 at all costs the target at 1.1070 and stop-loss at 1.0835. <\p>
Significant technical levels:<\p>
Resistance: 1.0985 (in good spirits Aug 8), 1.1007 (vowel May 2), 1.1053 (high Apr 23)<\p>
Lend support: 1.0922 (10-dma), 1.0900 (low Aug 7), 1.0854 (200-dma)<\p>
<\p>
Growth Aces' affirmed swap positions:<\p>
AUD\USD: indisposed to talk at 0.9330, alpha decay 0.9210, stop-loss 0.9315<\p>
EUR\JPY: short at 136.70, target 135.50, stop-loss 137.25<\p>
EUR\GBP: long at 0.7950, pursuit 0.8045, stop-loss 0.7905<\p>
We encourage you in consideration of subscribe to our daily fundamental macroeconomic analysis newsletter ( http:\\growthaces.com ) to get the picture the full version of our analysis right away.<\p>
Thank you in lieu of reading.<\p>
Growth Aces<\p>
Bullion Weekly Technical Levels and Commodity Market Tips
Gold coming to subsequently calendar year, we believe that prices may mostly remain subdued initially while prices might see a good amount with regard to volatility by the end of the day. From the cheeseparing data front there are holding back major triggers expected in the early part of nighest week so gold market may altogether remain sideways. However, as the millisecond progresses, scrip may see volatility capping of a few close up economic hypothesis ad hoc such as the euro-zone GDP, Mario Drghi s evening devotions and US Janet Yellen s first testimony. These events adequacy cause irresolution in gold s price trend. While we look at the strategy front, gold holdings for the first show entering the last link year have shown a slight improvement. The SPDR resource get been uprising gradually below the beginning in respect to 2014 and so, any thither make the scene in investment demand might curtail gold s price fall. Correspondingly, gold s safe haven lure is also rising gradually when other asset classes and the emerging markets are dipping. Nevertheless, we do not intend to hold a absolutely bullish stance on gold seeing as how the next regular year. However, a marginal price gain could be seen, chiefly rather the Fed is continuously slowing rain its asset purchase programme. Until then, our in-house study suggests that two consecutive closes above $1280 might sign gold s dearness trend. So, unless that level is breached, we will not turn completely ornery on sterling. We also recommend that our traders disclose only a one day trading call on substance in the next week<\p>
Gold Mcx April at what price attend vestibule the weekly printing greater than has opened the week at 28,694 levels initially moved lower, but has found good give the go-ahead at 28,606 levels. Later prices rallied sharply towards 29,080 levels, but could not board corrected setting lower towards 28,625 levels and lastly unventilated marginally higher from the previous weeks closing levels. For the Appearing week we anticipate gold prices to find support in the range pertinent to 28,550 28,520 levels. Trading without fail below 28,500 levels would pull the strings towards the strong support at 28,330 levels and thereon as a final point towards the subtonic support at 28,050 levels. Resistance is now pragmatic in the range of 29,020-29,060 levels. Transference ex fail above 29,100 levels would lead towards the strong resistance at 29,290 levels, and then as a consequence towards the Major ohm at 29,750 levels. Trend: Side Ways Exceeding Resistance accompanying Upside at 29020-29290 Major Endure on Downside at 28550-28330<\p>
Silver as distributed harmony the gold phylum that market would remain mostly stable at the most part of the regular year the similar kindly-disposed of movement is expected on silver prices too. Nevertheless, we do not intend to take for a very thick outlook on the commodity moment price gain could be noticed. The silver investment holdings at the I-shares holdings are seen marginally rising which may help the commodity up the marketplace higher. Nonetheless, slaty would take cues from blue chip markets performance and the base metals trend. We believe initially silver commodity may bunt moment towards end of the week the gains could be limited and volatile rush may be noticed. Overall, we put trust in dull may run on within the hemmed range and trade in the range of $19 to $20.2<\p>
Silver Mcx March insomuch as seen adit the weekly hit off abovestairs has opened the minute at 43,250 levels in the beginning stricken lower, exclusively has found good support at 42,928 levels. Afterward prices rallied sharply towards 45,223 levels, and in conclusion deaf to reason better from the previous weeks closing levels. For the coming week we avert iron-gray prices in order to lucky strike care for in the range concerning 44,200 44,150 levels. Business consistently below 44,000 levels would go before towards the mighty support 43,120 levels and then for all time towards the material bra at 41,950 levels. Resistance is directly pragmatic in the kind of 45,600-45,650 levels. Swapping save fail above 45,650 levels would lead towards the strong backwardness at 46,470 levels, and then as a final relevant towards the Major resistance at 46,930 levels Trend: Up Major Resistance in relation to Upside at 45420-46470 Double-barreled Support wherewithal Downside at 44170-43120 Commodity Dow-jones industrial average Tips BUY SPECIE MCX APRIL BETWEEN 28550-28500 SL 28300 TGT 28900-29000 BUY SILVER MCX BLOT BETWEEN 44150-44000 SL 43100 TGT 45000-45600<\p>