Orbex - Forex Market Reviews - Page 4

Further downside in GBPUSD likely

The British Pound is likely to come under pressure as further downside momentum is likely to see the GBP give back some of its previous gains as UK's inflation data is due later today. Gold prices remain flat but another test to 1250 is likely while the bias remains to the downside...

USD stays week but watch for pullbacks

The US Dollar closed last week on a bearish note and further downside is likely to follow but not before prices pullback from the recently established directions. Gold is likely to stay soft as a risk on the environment is likely to prevail in light of Central bank decisions over the last two weeks...

USD could see a short term recovery

Following the two days of declines, the US Dollar is likely to see a short-term pullback in prices. The bias still remains to the downside and could potentially seek more declines unless there are signs of a reversal in prices...

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USD weakness likely to continue

With the US Federal Reserve holding rates steady yesterday and lowering its Fed funds rate forecasts to two rate hikes in 2016, aligning with the market expectations, the US Dollar is likely to remain weak in the near term, which should, in turn, see the Euro and the Yen strengthen...

GBP weakens but support above 1.40

Following two days of quiet, the markets will be gearing up for a lot of economic releases today. First of the UK’s jobs report is due with hawkish expectations of an increase in the average wages. GBPUSD has weakened strongly but remains supported above the 1.40 handle...

Dollar gains ahead of FOMC meeting

The US Dollar posted a recovery across the board with the Euro and the British Pound declining against the Greenback. US economic data is due later today with retail sales and PPI numbers which could be the main risk ahead of the FOMC meeting tomorrow...


EURUSD supported above 1.10

Despite the ECB matching market expectations and going a bit beyond, the Euro erased previous losses and closed the day with strong gains. The single currency remains supported above the 1.10 handle and now aims for the 1.1335 resistance...

ECB decision time! Big day for EUR

The ECBs monetary policy meeting is due today with deposit rate cuts, QE expansion on the table. The markets are heading into today's events with modest expectations so the scope for a surprise is very much a key risk to the EURUSD...

Daily Forex Preview for March 09, 2016. USDJPY forming a bearish descending triangle

EURUSD gave back its previous gains above the 1.10 handle and closed with a doji candlestick yesterday. Prices could remain range bound into the ECB's meeting with 1.08 and 1.10 likely to be the range highs and lows...

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Daily Forex Preview for March 08, 2016. Euro pares losses, back above 1.10

The single currency managed to trim its declines yesterday and prices managed to close above the 1.10 handle in yesterday’s trading. Ahead of the ECBs decision on Thursday, EURUSD is likely to remain range bound with today's GDP data the only other data coming out...

Daily Forex Preview for March 07, 2016. Dollar slips against the Euro

February nonfarm payrolls released on Friday showed an increase of 242k above forecasts of 190k. The unemployment rate was steady but average hourly earnings fell -0.10% against forecasts of 0.20%...

Forex Preview for March 04, 2016. Gold breaks above 1250 ahead of NFP

Gold prices notched early gains breaking above the 1250 handle ahead of the NFP report due later today. The ranging price action saw a breakout to the upside but comes at risk ahead of the jobs report. Meanwhile, EURUSD and USDJPY remain flat with price action likely to push in any direction...


Daily Forex Preview for March 03, 2016. GBP bounces, Euro falls while Gold stays flat

The ADP payrolls numbers released yesterday showed a better than expected print with private payrolls rising 214k, above estimates. The US Dollar remained well supported across the board and the markets are likely to move sideways ahead of tomorrow NFP numbers...

Daily Forex Preview for March 02, 2016. GBP have seen recovering off the 1.387 lows

Following yesterday better than expected ISM manufacturing PMI, the US Dollar has managed to strengthen albeit briefly. Prices remain cautious ahead of the Friday’s nonfarm payrolls. Todays big event is likely to be the ADP private payroll numbers...

Daily Forex Preview for March 01, 2016. Euro slips on weak inflation

The Euro remained weak yesterday as flash CPI estimates from the Eurozone continued to highlight the lack of any growth in consumer prices, which is likely to see the ECB come out with policy measures in a few weeks from now...

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Daily Forex Preview for February 29, 2016. Dollar gains on upbeat GDP data

An upside revision to the US GDP for the fourth quarter sent the Greenback stronger across the board. However, market sentiment is currently pointing to a modest risk aversion with the Yen gaining in early Asian trading, which could, in turn, see the Euro attempt to post a recovery rally...

Daily Forex Preview for February 26, 2016

The British Pound closed in the positive yesterday for the first time this week, forming an inside bar, while EURUSD is attempting to rally following two days of doji candlesticks, as USDJPY slips back to test 112 support...

Daily Forex Preview for February 25, 2016

The markets remain volatile with both the dollar stronger against the Euro and weaker against the Yen. However, USDJPY has made a doji pattern near the 112 support which will be key for further direction...


Daily Forex Preview for February 24, 2016

Risk aversion was back in the markets yesterday as the Yen and the Swiss Franc closed the day with gains. Crude oil prices declined strongly yesterday taking the equity markets lower as well as USDJPY is back trading at the 112 handle...

Daily Forex Preview for January 14, 2016

EURUSD remains choppy on the daily session with no clear price action patterns in sight. On the 4-hour chart, we however notice a potential for a bearish reversal provided the current H4 candlestick closes on a bearish note...

Daily Forex Preview for January 05, 2016

EURUSD attempted rally was capped near 1.095 - 1.0932 as aniticpated and with prices being rejected at this level, EURUSD declined sharply back to the familiar support at 1.0815 - 1.08 which marks the head and shoulders pattern's neckline off the daily chart...


Daily Forex Preview for December 28, 2015

EURUSD reversed the losses from December 23rd's price action and closed on a bullish note the following day. Price action remains on a bullish note at today's open with EURUSD currently testing the highs near 1.0973...

Daily Forex Preview for December 22, 2015

The head and shoulders pattern noted yesterday has seen price rally to 1.0932 level which should now be likely to be tested for resistance. A successful cap on prices here could see EURUSD decline back to previous support near 1.0815 region...

Daily Forex Preview for December 15, 2015

EURUSD continues to build strong bearish divergence off the 1.10 region. Prices initially declined only to find support near the confluence of the 1.094 horizontal support and the rising minor trend line. Another attempt to test 1.10 region could remain a possibility...


Daily Forex Preview for December 04, 2015

EURUSD strong reversal off 1.051 - 1.059 support level on the daily time frame has seen prices break above 1.0876 - 1.083 level of resistance. Expecting a pullback to this price level to establish support will likely keep the bullish bias intact with the potential to rally to 1.10 level in the near term...

Daily Forex Preview for November 20, 2015

EURUSD closed on a bullish note yesterday above 1.07 level of support/resistance. The bullish candlestick comes off the previous days small bodied spinning bottom indicating a possible shift higher...

Daily Forex Preview for November 17, 2015

EURUSD closed yesterday below the lower support at 1.0697 on the daily session which is now likely to see a decline lower to 1.0488 support. A retest to the recently broken support at 1.0697 could be tested ahead of further declines...


Orbex
Daily Forex Preview for November 03, 2015

EURUSD failed to capitalize on its gains yesterday despite opening with an up gap. The Single currency closed on a bearish note yesterday but with prices still trading above the medium term support of 1.1 through 1.0985, the short term bias is likely to remain to the upside...

Daily Forex Preview for October 28, 2015

EURUSD has been subdued for the last two trading sessions but the price action points to a possibility of an upside correction in the near term. Prices have been strongly consolidating nera the lows of 1.103...

Orbex
Daily Forex Preview for October 23, 2015

EURUSD closed on a strong bearish note yesterday but the daily chart shows prices supported near the lower end of the larger rising price channel. The support zone near 1.11 through 1.108 looks to be holding right now, which indicates a potential move to the upside...



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