Daily market review for June 05, 2015

June 5, 2015

Economic Overview

Oil group OPEC is set on Friday to discussion by its policy of unconstrained oil output for another six months, OPEC is set to convene its formal session by noon and a result is likely to be announced quickly thereafter this meeting. Bank of England decided to keep its benchmark interest rate at 0.5%, unchanged at the lowest level since 2009. also kept the size of its bond-buying stimulus programme unchanged at £375bn. Meanwhile, recently confirmed that UK gross domestic product (GDP) growth slowed to 0.3% in the first quarter, which was its worst showing since the end of 2012. The officials of the central bank led by Mark Carney expect annual inflation to come back to 2% target by the beginning of 2017.


Short-term Correction ; buying pressure


On the short -term the market with correction buying pressure scenario and ranging between 1.1000 and 1.1500 levels.

The market Still trading above 1.1050 level after pushing the price to turn to rise again. Therefore, and break 1.1300 areas as a first main target, noting that breaching this level the market will continuing the bullish trend to the next target at 1.1400 then 1.1500, while the expected rise will remain valid unless breaking 1.1050 level. That stop the suggested bullish trend scenario if closed below 1.1050 level again, so we for the upcoming period as a correction phase and waiting a re-test for the major support which were broken out on the last weeks ( 1.0950 , 1.0800). 

On the longer-term view : the market on the down trend driven by a lot of factors ; moreover , a levels below 1.04s is expected and parity exchange rate would be in the next half of 2015. 

Daily Trend: Down
Weekly Trend: Down

Publication source
Orbex information  Orbex reviews

October 21, 2016
EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
October 21, 2016
Decisions on QE Postponed until December
Asian stock markets are narrowly mixed, with Japanese bourses managing marginal gains as the Yen falls against the Dollar. Stock futures in the U.S. are down...
October 21, 2016
EURUSD at $1.09, but declines could be limited
The ECB monetary policy meeting yesterday saw the euro give up its intraday gains to close on a bearish note. As Draghi signaled that the central bank would need time to assess the monetary policy situation...

FXCM Rating
FIBO Group Rating
HYCM Rating
Tickmill Rating
Vantage FX Rating
Larson&Holz IT Ltd Rating

Beeoptions Rating
OptionBit Rating
Banc De Binary Rating
Binary Brokerz Rating
Porter Finance Rating
365BinaryOption Rating