FBS - Forex Market Analysiss

FBS
GBP/USD: triple bottom

Bears faced with support at 1.3223, so there's a Triple Bottom, which pushed the price to the closest resistance at 1.3278. Meanwhile...

FBS
Moving averages acted as resistance

The price is consolidating in a range of the developing Wedge. So, the upper side of this pattern is likely going to be broken soon. The main intraday...

GBP/USD: support waiting for bears

The price faced a support at 1.2270, so the price is consolidating. If we have any reversal pattern, the market is likely going to reach a support at 1.2227 – 1.2205. Considering a possible pullback from this area, there’s a chance to have an upward correction afterwards...

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GBP/USD: Moving Average acted as a support

There's an upward Wedge, which was broken yesterday. The 89 Moving Average acted as a support. Therefore, the pair is likely going to rise in the short term, so we should keep an eye on the nearest resistance at 1.2584 - 1.2619 as a possible intraday target...

FBS
What will happen with the euro after the ECB meeting

Morgan Stanley strategists believe that the ECB will keep rates on hold at this week’s meeting, but can expand its QE purchase program. But they consider different scenarios with various responses from the euro...

FBS
In the countdown to the OPEC meeting

The OPEC members will meet in Vienna on Wednesday to decide on the details of the output cut deal that was agreed in Algiers two months ago. The cartel is trying to reach an agreement to curb its supply for the first time since the financial crisis and put an end to a two-year downturn in crude oil prices...


Crude prices are steady after five days of drops

On Friday, crude prices soared, stabilizing after five straight days of drops, though a soar in American crude inventories as well as doubts over the ability of crude producers to coordinate production cuts continued keeping a lid on the energy market...

Greenback skids on American election jitters

On Thursday, the greenback’s losses deepened, as positioning for next week's American presidential election definitely overshadowed the Fed’s latest review, where policymakers indicated they were on track to raise rates already next month...

FBS
Crude prices retreat on hopes for a big leap

On Wednesday, crude futures retreated during early Asia trade, following hopes that American crude inventories were spurred greatly last week, thus exacerbating the global glut, which has kept prices in the doldrums for more than two years...

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Greenback sticks to three-month peaks

On Friday, the Japanese yen remained close to it weakest level against the greenback for three months during Asia trade, right after a surge in American bond yields as well as the issue of economic data backing the case for growth in American interest rates strengthened the US dollar overnight...

Crude prices back down amid rising global supplies

On Thursday, crude futures retreated further during early Asia trade, following data from the Organization of the Petroleum Exporting Countries, which showed a further surge in its output...

Gold prices approach 2-week minimums

On Tuesday, gold prices tumbled close to two-week minimums, as a stronger greenback following recent positive American data kept weighing on the precious metal...


Crude prices sink on high output

On Monday, crude prices sank from $50 per barrel notwithstanding an agreement the previous week by crude exporters to minimize output, with investors doubting the step was enough to rein in output that has surpassed consumption for the better part of three years...

Gold earns slightly in Asia

On Friday, gold prices edged up in Asia after a key manufacturing poll from China came in as expected and traders looked ahead to more remarks from Fed policymakers...

Crude rises, though market faces long wait for next OPEC move

On Wednesday, crude futures inched up during early Asia trade, as market players shifted their focus to November, the time when key crude producers could decide on a more definitive plan to drop output, which has suppressed prices for two years...

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FBS
Yen holds slight revenue

On Friday, the Japanese yen managed to retrace its early revenues in Asia in a light regional data day with major bank gatherings in America and Japan next week holding attention...

European car sales edge up

The previous month European car sales ascended 9.5%, as regional industry association ACEA informed on Thursday, with recovering southern markets bringing benefits to Fiat as well as low-cost brands...

Gold prices edge down

On Wednesday, gold price eased during Asia trade after an initial revenue as traders await the Fed’s latest verdict on interest rates at next week FOMC gathering...


FBS
Gold soars in Asia on Fed rate views

On Tuesday, gold gained during early Asia trade with views on chances for an American rate lift next week squarely in focus. Additionally, Chinese optimistic data on industrial production shrugged off in the case of copper...

FBS
Gold edges lower amid American rate lift talk

On Monday, gold prices edged lower, following remarks from a Fed official indicating the probability for a near term American rate lift. In New York, December delivery gold futures slumped 0.12%, hitting $1,332.90 per troy ounce...

Asian shares show mixed trade

On Wednesday, stocks in Asia showed mixed performance with Sydney earning slightly notwithstanding weaker than expected GDP figures...


FBS
European stocks head south

On Monday, European shares traded mostly lower, as financial markets were still digesting Friday remarks by Fed Chair Janet Yellen. During European morning trade, the EURO STOXX 50 sank 0.38%, French CAC 40 descended 0.32%, while German DAX 30 lost 0.63%...

Asian shares consolidate following Wall Street gains

On Wednesday, Asian shares consolidated a recent run of revenues, backed by Wall Street's soar overnight, even as crude prices tumbled on trade data demonstrating a surprise build-up in American crude stocks...

FBS
Greenback drops as Fed minutes show scant support for near-term lift

On Thursday, the greenback hit a seven-week minimum against a basket of key currencies, after minutes from the Federal Reserve's July gathering demonstrated policy committee members opposed to a near-term rate lift outperformed those who wanted one...


FBS
Gold goes down amid fears over hawkish Fed minutes

On Wednesday, gold prices tumbled during European trade, reversing overnight profits as market participants looked ahead to minutes of the Federal Reserves’ July policy gathering, that many feared could appear to be more hawkish than the statement...

FBS
Gold goes up as greenback crashes

On Tuesday, gold prices went up during European trade, extending revenues from the prior session as dismal American economic data tempered hopes for a near-term interest rate lift by the Federal Reserve, thus weighing on the greenback...

European stocks start moderately higher

On Tuesday, European shares started moderately higher as Friday’s positive American jobs data kept backing market sentiment, though lower crude prices were expected to pair revenues...


EUR/USD with Mark Jensen

EUR/USD keeps trading sideways with a slight upward bias. The market lacks movement ahead of the FOMC meeting (18:00 GMT)...

Dec. 10: market news

Asian stock markets closed the day in the red zone as China released a bunch of mixed statistics. Industrial output for November rose by 10% from a year earlier, slowing from the previous month's 10.3% increase and not matching the 10.2% forecast...

Sep. 19: Asian session

US dollar fell yesterday versus its peers as the Fed unexpectedly kept the current pace of asset purchases that tend to debase the greenback, while the economists expected it to taper quantitative easing...


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