Daily Forex Analysis From Fideliscm

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04-10-2017, 05:17 PM,
#16
The main events on April 10, 2017


-The dollar started the week at three-week highs against a currency basket on Monday, after a key U.S. Federal Reserve official reinforced the central bank's commitment to continue raising interest rates.
-The dollar index added 0.1 percent to 101.230 after rising as high as 101.340, reaching its highest levels since March 15.
USD/JPY rose 111.44, up 0.31%, while AUD/USD changed hands at 0.7485, down 0.15%.
-In the week ahead, investors will be looking to Wednesday’s Fed minutes for fresh indications on the timing of the next U.S. rate hike ahead of Friday’s closely watched nonfarm payrolls report and a meeting between Chinese President Xi Jinping and U.S. President Donald Trump in Florida.
-Gold prices ticked up slightly in early Asia on Monday with geopolitical tensions in focus as the U.S. moved an aircraft carrier group closer to the Korean peninsula and as concerns linger over a missile strike on a Syrian airbase last week remain.
Gold rose 0.04% to $1,256.45 a troy ounce
-Oil prices were firm on Monday, supported by strong demand and political uncertainty in Syria, although another rise in U.S. drilling activity kept a lid on gains.
Brent up 4 cents from their last close at $55.28 per barrel.
WTI crude futures were up 10 cents at $52.34 a barrel.

News for Today:
-Fed Chair Janet Yellen is to speak at the University of Michigan.

Overnight:
-Australia is to release private sector data on business confidence.

Main Events of the week:

Tuesday, April 11
The U.K. is to release what will be a closely watched report on consumer price inflation.
The ZEW Institute is to report on German economic sentiment.

Wednesday, April 12
China is to release figures on consumer and producer price inflation.
The UK is to release its monthly employment report.
The Bank of Canada is to announce its benchmark interest rate and publish a policy statement outlining economic conditions and the factors affecting the policy decision. The announcement is to be followed by a press conference.

Thursday, April 13
Australia is to produce its monthly employment report.
China is to publish trade figures.
Canada is to report on manufacturing sales and new house price inflation.
The U.S. is to release reports on producer price inflation, jobless claims and consumer sentiment.

Friday, April 14
Financial markets in Australia, New Zealand, Europe and Canada will be closed for the Good Friday holiday.
The U.S. is to round up the week with data on consumer price inflation and retail sales.

EUR/USD Intraday: the downside prevails.

Our preference: short positions below 1.0615 with targets at 1.0550 & 1.0525 in extension.
Alternative scenario: above 1.0615 look for further upside with 1.0635 & 1.0655 as targets.
Comment: the RSI is mixed to bearish.

Supports and resistances:
1.0655
1.0635
1.0615
1.0585 Last
1.0550
1.0525
1.0500

resim

Review provided by broker Fidelis Capital Markets
Offline
04-11-2017, 07:28 PM,
#17
The main events on April 11, 2017

-The dollar held weaker against the yen in Asia on Tuesday with remarks from the Fed chief that suggested rate hikes were likely sooner rather than later failing to lift the greenback and political risk aiding yen safe-have demand, while the Aussie held ground after a mixed business survey.
-USD/JPY fell 0.20% to 110.72, while AUD/USD rose 0.07% to 0.7506.
The U.S. dollar index edged up 0.03% to 100.97.
-According to Fed rate monitor tool, over 52% of traders expected the Fed to hike interest rate in June, compared to 49% a week earlier.
-Gold drifted higher in Asia on Tuesday with markets keeping a close eye on geopolitical risks and noting comments from the Fed chief that suggested the central bank is on track with plans to hike rates as forecast. Gold rose 0.12% to $1,255.35 a troy ounce.
-Crude prices rose to five-week highs in Asia on Tuesday with industry data on U.S. inventories later in the day expected to underpin market views on demand and supply in the world's top importer.
WTI rose 0.17% to $53.17 a barrel, while Brent gained 0.21% to $56.10 a barrel.

News for Today:
-The U.K. is to release what will be a closely watched report on consumer price inflation.
-The ZEW Institute is to report on German economic sentiment.

Overnight:
-China is to release figures on consumer and producer price inflation.

Main Events of the week:

Wednesday, April 12
The UK is to release its monthly employment report.
The Bank of Canada is to announce its benchmark interest rate and publish a policy statement outlining economic conditions and the factors affecting the policy decision. The announcement is to be followed by a press conference.

Thursday, April 13
Australia is to produce its monthly employment report.
China is to publish trade figures.
Canada is to report on manufacturing sales and new house price inflation.
The U.S. is to release reports on producer price inflation, jobless claims and consumer sentiment.

Friday, April 14
Financial markets in Australia, New Zealand, Europe and Canada will be closed for the Good Friday holiday.
The U.S. is to round up the week with data on consumer price inflation and retail sales.

EUR/USD Intraday: under pressure.

Our preference: short positions below 1.0610 with targets at 1.0570 & 1.0550 in extension.
Alternative scenario:above 1.0610 look for further upside with 1.0635 & 1.0655 as targets.
Comment: a break below 1.0570 would trigger a drop towards 1.0550.

Supports and resistances:
1.0655
1.0635
1.0610
1.0590 Last
1.0570
1.0550
1.0520

resim

Review provided by broker Fidelis Capital Markets
Offline
04-12-2017, 07:31 PM,
#18
The main events on April 12, 2017


-The yen gained slightly in early Asia on Wednesday as data on machinery orders provided a lift in sentiment and demand was supported by safe-haven buying linked to increased tensions on the Korean peninsula with Chinese President Xi Jinping holding a telephone call with U.S. President Donald Trump over the issue.
-USD/JPY changed hands at 109.51, down 0.10%. AUD/USD traded at 0.7495, down 0.05%.
The U.S. dollar index rose 0.02% to 100.63.
-Gold prices stayed at highs reached last year in November in Asian trade on Wednesday as geopolitical risk on the Korean peninsula escalated with tweets by President Donald Trump warning North Korea the U.S. would "solve the problem" of repeated missile and nuclear tests by the reclusive regime if its ally China failed to act first.
Gold rose 0.38% to $1,279.05 a troy ounce.
-Oil prices rose on Wednesday, putting crude futures on track for their longest streak of gains since August 2016, as Saudi Arabia was reported to be lobbying OPEC and other producers to extend a production cut beyond the first half of 2017.
-Brent crude futures were at $56.36 per barrel at 0457 GMT, up 13 cents, or 0.23 percent, from their last close, and their highest since early March.
-WTI up 9 cents, or 0.19 percent, at $53.49 a barrel, also their highest since early last month.

News for Today:
-The UK is to release its monthly employment report.
-The Bank of Canada is to announce its benchmark interest rate and publish a policy statement outlining economic conditions and the factors affecting the policy decision. The announcement is to be followed by a press conference.

Overnight:
-Australia is to produce its monthly employment report.
-China is to publish trade figures.

Main Events of the week:

Thursday, April 13
Canada is to report on manufacturing sales and new house price inflation.
The U.S. is to release reports on producer price inflation, jobless claims and consumer sentiment.

Friday, April 14
Financial markets in Australia, New Zealand, Europe and Canada will be closed for the Good Friday holiday.
The U.S. is to round up the week with data on consumer price inflation and retail sales.

EUR/USD Intraday: the bias remains bullish.

Our preference: long positions above 1.0570 with targets at 1.0630 & 1.0655 in extension.
Alternative scenario: below 1.0570 look for further downside with 1.0550 & 1.0520 as targets.
Comment: the RSI lacks downward momentum.

Supports and resistances:
1.0685
1.0655
1.0630
1.0600 Last
1.0570
1.0550
1.0520

resim

Review provided by broker Fidelis Capital Markets
Offline
04-13-2017, 05:54 PM,
#19
The main events on April 13, 2017


-The Aussie jumped on a surge in new jobs as initial yuan-denominated trade data out of China was also a key driver of the currency as a top trading partner.
-The U.S. dollar index eased 0.08% at 99.985, down 0.58%. AUD/USD jumped 0.60% to 0.7568, while USD/JPY changed hands at 108.8406, down 0.17% with tensions on the Korean peninsula in focus.
-Gold prices jumped in Asia on Thursday on solid trade figures from China, particularly on imports, and on geopolitical risk sentiment and President Donald Trump's remarks on the dollar and interest rates. Gold gained 0.76% to $1,287.85 a troy ounce.
-Crude prices held weaker in Asia on Thursday even after trade data from China showed a solid gain in first quarter crude imports as investors focused on global demand and supply and shrugged off a drop in U.S. inventories. WTI fell 0.19% to $53.01 a barrel, while Brent eased 0.18% to $55.76 a barrel.

News for Today:
-Canada is to report on manufacturing sales and new house price inflation.
-The U.S. is to release reports on producer price inflation, jobless claims and consumer sentiment.

Main Events of the week:

Friday, April 14
Financial markets in Australia, New Zealand, Europe and Canada will be closed for the Good Friday holiday.
The U.S. is to round up the week with data on consumer price inflation and retail sales.

EUR/USD Intraday: further advance.

Our preference: long positions above 1.0630 with targets at 1.0690 & 1.0710 in extension.
Alternative scenario: below 1.0630 look for further downside with 1.0610 & 1.0590 as targets.
Comment: the RSI is bullish and calls for further advance.

Supports and resistances:
1.0735
1.0710
1.0690
1.0650 Last
1.0630
1.0610
1.0590

resim

Review provided by broker Fidelis Capital Markets
Offline
04-20-2017, 05:37 PM,
#20
The main events on April 20, 2017


-The dollar caught its breath in Asian trading on Thursday, holding above lows hit earlier this week as investors awaited this weekend's first round of voting in France's presidential election.
-The dollar index, which tracks the U.S. currency against a basket of six major rivals, was slightly higher on the day at 99.752 (DXY), moving away from a three-week low of 99.465 plumbed on Tuesday.
The Beige Book showed the economy expanded at a modest-to-moderate pace between mid-February and the end of March, but inflation pressures remained in check despite more difficulties in attracting and retaining workers.
-The euro edged up 0.1 percent to $1.07200 , and was expected to tread water ahead of this weekend's vote.
-Centrist Emmanuel Macron held on to his lead as favorite to emerge as the eventual victor, a closely watched poll showed, although it indicated that the outcome of the first round of voting on Sunday was too close to call. Millions of French voters remain undecided, making this the least predictable vote in France in decades, and raising fears of a potential surprise result that could spread turmoil in markets.
-Data released early on Thursday showed Japan's exports rose in March at the fastest pace in more than two years, though fears of trade friction clouded the outlook. Deputy Prime Minister Taro Aso, who heads Japan for a newly-created bilateral economic dialogue with the United States, said on Wednesday that Japan has less room to compromise with the United States under a bilateral trade deal.
-Against its perceived safe-haven Japanese counterpart, the dollar was up 0.1 percent at 108.99 yen , pulling away from five-month lows touched on Monday.
-Sterling added 0.2 percent to $1.2797 after notching a more than six-month high of $1.2908 on Tuesday following British Prime Minister Theresa May's call for an early general election ahead of Brexit negotiations.
-Oil prices regained some ground on Thursday after steep losses the previous day, with a slight drop in U.S. crude inventories stoking hopes that a global supply overhang might slowly retreat.
Brent crude futures were at $53.08 per barrel at 0430 GMT, up 15 cents, or 0.3 percent, from their last close.
-U.S. West Texas Intermediate (WTI) crude futures were up 12 cents, or 0.2 percent, to $50.56 a barrel.

EUR/USD Intraday: rebound.
Pivot: 1.0700

Our preference: long positions above 1.0700 with targets at 1.0740 & 1.0765 in extension.
Alternative scenario: below 1.0700 look for further downside with 1.0685 & 1.0655 as targets.
Comment: the RSI shows upside momentum.

Supports and resistances:
1.0790 **
1.0765 ***
1.0740 ***
1.0720 Last
1.0700 ***
1.0685 ***
1.0655 ***

resim

Review provided by broker Fidelis Capital Markets
Offline
04-24-2017, 05:31 PM,
#21
The main events on April 24, 2017


-The euro soared on Monday in Asia after an expected and welcomed outcome for the elections in France that led to a runoff between centrist Emmanuel Macron and far-right leader Marine Le Pen.
-EUR/USD jumped 1.33% to 1.0871 after hitting five-month highs overnight on the French election outcome with Macron expected to win the election on May 7 after defeated rivals offered him support. USD/JPY rose 0.78% to 109.95, while AUD/USD gained 0.16% to 0.7555. The U.S. dollar index was down 0.05% to 99.66.
-Gold prices slumped in Asia on Monday as risk concerns eased after the French election went widely as expected, pitting centrist Emmanuel Macron and far-right leader Marine Le Pen in a May 7 runoff. Gold dropped 0.90% to $1,277.35% a troy ounce.
-Oil prices recovered ground on Monday following last week's big losses, driven by expectations that OPEC will extend a pledge to cut output to cover all of 2017, although a relentless rise in U.S. drilling capped gains.
-WTI added 26 cents, or 0.5 percent, but were still below the $50 mark pierced on Friday at $49.88 a barrel. Brent rose 30 cents, or 0.6 percent, to $52.26 per barrel.

News for Today:
-The Ifo Institute is to report on German business climate.
-Canada is to release data on wholesale sales.
-Minneapolis Fed President Neel Kashkari is to speak.

Overnight:
-Financial markets in Australia and New Zealand are to remain closed for the ANZAC Day holiday.

Main Events of the week:

Tuesday, April 25
The UK is to report on public sector borrowing.
The U.S. is to release data on consumer sentiment and new home sales.

Wednesday, April 26
Australia is to produce data on consumer price inflation.
Canada is to publish figures on retail sales.

Thursday, April 27
The Bank of Japan is to announce its benchmark interest rate and publish a policy statement which outlines economic conditions and the factors affecting the monetary policy decision. The announcement is to be followed by a press conference.
In the euro zone, Germany is to release preliminary inflation data.
The ECB is to announce its latest monetary policy decision. The announcement is to be followed by a press conference with President Mario Draghi.
The U.S. is to release data on initial jobless claims, durable goods orders and pending home sales.

Friday, April 28
Japan is to publish data on household spending and inflation.
New Zealand is to report on business confidence.
The UK is to release a preliminary estimate for first quarter economic growth.
Germany is to release figures on retail sales.
The euro zone is to publish a preliminary inflation estimate.
Canada is to release data on monthly economic growth.
The U.S. is to round up the week with what will be closely watched preliminary figures on first quarter growth, as well as a report on manufacturing activity in the Chicago region and revised data on consumer sentiment.

EUR/USD Intraday: bullish bias above 1.0780.
Our preference: long positions above 1.0780 with targets at 1.0900 & 1.0945 in extension.
Alternative scenario: below 1.0780 look for further downside with 1.0740 & 1.0685 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
1.0975 ***
1.0945 ***
1.0900 ***
1.0830 Last
1.0780 ***
1.0740 ***
1.0685 ***

resim

Review provided by broker Fidelis Capital Markets
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04-25-2017, 05:44 PM, (This post was last modified: 04-25-2017, 05:47 PM by FidelisCM.)
#22
The main events on April 25, 2017


-The dollar rebounded slightly in Asia Tuesday as investors keep a close eye on developments on the Korean peninsula as the USS Carl Vinson aircraft carrier-led battle group heads to the Sea of Japan.
-The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.06% to 98.97. USD/JPY changed hands at 109.7, up 0.01%, while AUD/USD traded at 0.7561, down 0.12%. EUR/USD fell 0.02% to 1.0865. USD/CAD traded up 0.39% to 1.3553.
-Gold dipped slightly in Asia on Tuesday with markets on watch for developments on the Korean peninsula, but otherwise noting strong equity markets and investor confidence.
Gold eased 0.15% to $1,275.65 a troy ounce.
-Crude oil posted further gains in Asia on Tuesday ahead of industry estimates of crude and refined product inventories in the U.S. expected to show declines.
-WTI delivery rose 0.49% to $49.47 a barrel, while Brent gained 0.48% to $52.38 a barrel.

News for Today:
-The UK is to report on public sector borrowing.
-The U.S. is to release data on consumer sentiment and new home sales.

Overnight:
-Australia is to produce data on consumer price inflation.

Main Events of the week:

Wednesday, April 26
Canada is to publish figures on retail sales.

Thursday, April 27
The Bank of Japan is to announce its benchmark interest rate and publish a policy statement which outlines economic conditions and the factors affecting the monetary policy decision. The announcement is to be followed by a press conference.
In the euro zone, Germany is to release preliminary inflation data.
The ECB is to announce its latest monetary policy decision. The announcement is to be followed by a press conference with President Mario Draghi.
The U.S. is to release data on initial jobless claims, durable goods orders and pending home sales.

Friday, April 28
Japan is to publish data on household spending and inflation.
New Zealand is to report on business confidence.
The UK is to release a preliminary estimate for first quarter economic growth.
Germany is to release figures on retail sales.
The euro zone is to publish a preliminary inflation estimate.
Canada is to release data on monthly economic growth.
The U.S. is to round up the week with what will be closely watched preliminary figures on first quarter growth, as well as a report on manufacturing activity in the Chicago region and revised data on consumer sentiment.

EUR/USD Intraday: the bias remains bullish.

Our preference: long positions above 1.0820 with targets at 1.0900 & 1.0945 in extension.
Alternative scenario: below 1.0820 look for further downside with 1.0780 & 1.0740 as targets.
Comment: the RSI is mixed to bullish.

Supports and resistances:
1.0975 ***
1.0945 ***
1.0900 ***
[b]1.0865 Last[b]
1.0820 ***
1.0780 ***
1.0740 ***

resim

Review provided by broker Fidelis Capital Markets
Offline
04-27-2017, 01:09 AM,
#23
The main events on April 26, 2017


The Australian and New Zealand dollars moved lower against their U.S. counterpart on Wednesday, after disappointing inflation data from Australia, although sentiment on the greenback was also vulnerable amid sustained uncertainties surrounding U.S. politics.

 AUD/USD fell 0.28% to 0.7516. NZD/USD dropped 0.50% to trade at 0.6920, the lowest since April 12. The U.S. dollar index was down 0.09% at 98.63. USD/JPY changed hands at 111.24, up 0.14%.

 Gold prices dipped slightly in Asia on Wednesday with no fresh support triggers in regional tensions on the Korean peninsula and caution ahead of tax plan details expected from the U.S. later in the day that if approved by Congress could set the pace for interest rate hikes this year by the Fed.
Gold eased 0.12% to $1,265.75 a troy ounce.

 Oil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC's ability to cut supplies and tighten the market.

WTI is down 13 cents, or 0.3 percent, at $49.43 per barrel. Brent is trading at $51.99 per barrel, down 11 cents, or 0.2 percent.

News for Today:
Canada is to publish figures on retail sales.

Overnight:
The Bank of Japan is to announce its benchmark interest rate and publish a policy statement which outlines economic conditions and the factors affecting the monetary policy decision. The announcement is to be followed by a press conference.

Main Events of the week:

Thursday, April 27
In the euro zone, Germany is to release preliminary inflation data.
The ECB is to announce its latest monetary policy decision. The announcement is to be followed by a press conference with President Mario Draghi.
The U.S. is to release data on initial jobless claims, durable goods orders and pending home sales.

Friday, April 28
Japan is to publish data on household spending and inflation.
New Zealand is to report on business confidence.
The UK is to release a preliminary estimate for first quarter economic growth.
Germany is to release figures on retail sales.
The euro zone is to publish a preliminary inflation estimate.
Canada is to release data on monthly economic growth.
The U.S. is to round up the week with what will be closely watched preliminary figures on first quarter growth, as well as a report on manufacturing activity in the Chicago region and revised data on consumer sentiment.

EUR/USD Intraday: bullish bias above 1.0900

Our preference: long positions above 1.0900 with targets at 1.0975 & 1.1010 in extension.
Alternative scenario: below 1.0900 look for further downside with 1.0870 & 1.0840 as targets.
Comment: the RSI is mixed to bullish.

Supports and resistances:
1.1070 ***
1.1010 ***
1.0975 ***
1.0925 Last
1.0900 ***
1.0870 ***
1.0840 ***

resim

Review provided by broker Fidelis Capital Markets
Offline
04-27-2017, 05:36 PM,
#24
The main events on April 27, 2017

The dollar held gains against the yen on Thursday after U.S. President Donald Trump's tax plan offered no fresh surprises, slowing the greenback's rally, while the market awaited the European Central Bank's upcoming monetary policy decision.

USD/JPY changed hands at 111.14, up 0.10%, while AUD/USD traded at 0.7487, up 0.19%. EUR/USD rose 0.06% to 1.0911. USD/CAD traded at 1.3533, down 0.63%.
The U.S. dollar index eased 0.10% to 98.75.

Gold prices rebounded mildly in Asia on Thursday as investors came in after a recent sharp dip following the French election results and as investors took positions on potential geopolitical risks on the Korean peninsula where the U.S. has moved to setup a sophisticated anti-missile system to deter North Korea from launching ballistic missiles.
Gold rose 0.28% to $1,276.33 a troy ounce.

Oil prices dipped on Thursday, weighed down by a general sentiment of globally bloated markets, though traders said that prices seemed to have found support around current levels.

WTI is trading at $49.37 per barrel, down 25 cents, or 0.5 percent from their last close. WTI has lost around 8.5 percent in value from its April peak.

Brent is trading at $51.62 per barrel, down 20 cents, or 0.4 percent.

News for Today:
In the euro zone, Germany is to release preliminary inflation data.
The ECB is to announce its latest monetary policy decision. The announcement is to be followed by a press conference with President Mario Draghi.
The U.S. is to release data on initial jobless claims, durable goods orders and pending home sales.

Overnight:
Japan is to publish data on household spending and inflation.
New Zealand is to report on business confidence.

Main Events of the week:

Friday, April 28

The UK is to release a preliminary estimate for first quarter economic growth.
Germany is to release figures on retail sales.
The euro zone is to publish a preliminary inflation estimate.
Canada is to release data on monthly economic growth.
The U.S. is to round up the week with what will be closely watched preliminary figures on first quarter growth, as well as a report on manufacturing activity in the Chicago region and revised data on consumer sentiment.

EUR/USD Intraday: key resistance at 1.0920.

Our preference: short positions below 1.0920 with targets at 1.0870 & 1.0840 in extension.
Alternative scenario: above 1.0920 look for further upside with 1.0950 & 1.0975 as targets.
Comment: the RSI is mixed to bearish.

Supports and resistances:
1.0975 ***
1.0950 ***
1.0920 ***
1.0890 Last
1.0870 ***
1.0840 ***
1.0815 ***

resim

Review provided by broker Fidelis Capital Markets



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Daily Forex Analysis From Fideliscm
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