internationallove Posted July 30, 2013 Author Share Posted July 30, 2013 Market Analytics:FBS Markets Inc. USD/JPY: Elliot wave analysis Daily. The wedge is complete and global corrective wave 2 is now enfolding. This wave may take a form of a Zigzag or a double Zigzag. Let’s examine its structure in detail. Chart. Daily USD/JPY H4. We are witnessing the formation of the first (a)-(-© Zigzag. We assume that the waves (a) and ( are complete and the wave © has already started forming. At the moment the downside impulse wave [3] of © is still developing. Chart. H4 USD/JPY H1. Watch the detailed marking on H1. We expect the continuation of the monotonous decline in the wave [3]. Chart. H1 USD/JPY Roman Petuchov for FBS - See more at: http://www.fbs.com/analytics/2013-07-29/23126-usdjpy-elliot-wave-analysis Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<<[/center] Comment here: http://www.fbs.com/ Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 30, 2013 Author Share Posted July 30, 2013 Market Analytics:FBS Markets Inc. July 20: USD rose, AUD fell EUR/USD remained capped by $1.3300 yesterday and slid to the $1.3250 area today. Euro stayed lower before the ECB policy meeting on Thursday. The Federal Open Market Committee starts a 2-day meeting today. In addition, the contraction in US pending home sales (data were released yesterday) wasn’t as big as expected. In the euro area watch today for GfK German consumer climate and preliminary CPI, Spanish GDP and Italian 10-year bond auction (see the economic calendar). GBP/USD didn’t manage to overcome $1.5400 and is trading around $1.5340 today. USD/JPY got support around 97.65 yesterday and recovered to 98.40. Yen weakened as rallying Japanese shares damped demand for haven assets and weaker-than-forecast production data backed the case for the Bank of Japan to expand stimulus. USD/CHF is trading above 0.9300 after an advance made yesterday. AUD/USD dropped below $0.9100 to $0.9060. Australian building approvals slumped by 6.9%, while economists expected growth by 2.2%. The Reserve Bank of Australia Governor Glenn Stevens signaled there is still room for interest rates and the currency to fall. NZD/USD is declining for the second day in a row. The pair’s now testing levels below $0.8000. New Zealand’s building consents also contracted. USD/CAD keeps consolidating in the 1.0285/50 area. Canadian dollar remains near 1-month high as crude oil, the nation’s largest export, remained above $100 per barrel for the 18th day. - See more at: http://www.fbs.com/analytics/2013-07-30/23129-july-20-usd-rose-aud-fell#sthash.8NXrFO3g.dpuf - See more at: http://www.fbs.com/analytics/2013-07-30/23129-july-20-usd-rose-aud-fell Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<<[/center] Comment here: http://www.fbs.com/ Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 1, 2013 Author Share Posted August 1, 2013 Market Analytics:FBS Markets Inc. August 1: ahead of BoE and ECB In the US the Federal Open Market Committee yesterday made a slightly more dovish statement keeping the size of monthly bond purchases unchanged, while warning that persistently low inflation could hamper the recovery. The Fed warned that inflation risks staying ‘persistently’ below 2% but said it will rise back to target in medium term. Traders have gone over the FOMC statement and are now ready to face news from Europe. EUR/USD declined to $1.3270 after it reached $1.3344 yesterday. GBP/USD is down by more than 40 pips around $1.5160, but above yesterday’s low at $1.5123. EUR/GBP rose to more than 4-month high at 0.8768. We are waiting for policy decisions by the Bank of England and the ECB later today. The central banks are expected to keep policy unchanged. USD/JPY rose to the 100-day MA at 98.50. Yen fell as a report showed Japanese investors sent funds into foreign bonds for a fourth week and as Asian shares climbed on better-than-expected Chinese manufacturing data. AUD/USD hit an almost 3-year low at 0.9825 on bets the Reserve Bank will cut interest rates next week. NZD/USD is trading on the downside in the $0.7970 area after spiking down to $0.7923 earlier today. USD/CAD rose from the 100-day MA at 1.0267, but remain below 1.0300. More Forex news & analytics at FX Bazooka - See more at: http://www.fbs.com/analytics/2013-08-01/23146-august-1-ahead-boe-and-ecb#sthash.sLj4cfiB.dpuf Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<<[/center] Comment here: http://www.fbs.com/analytics/2013-08-01/23146-august-1-ahead-boe-and-ecb Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 2, 2013 Author Share Posted August 2, 2013 Market Analytics:FBS Markets Inc. Ausust 2: all eyes on NFP US dollar headed for weekly gains against all its major peers as improvements in the US economy added to the case for the Fed to start tapering bond purchases which tend to debase the currency. ISM Manufacturing PMI rose in July to 55.4, the highest level since April 2011. Today watch for US non-farm payrolls data at 12:30 GMT (forecast: 184K; previous: 195K). EUR/USD is trading around the psychological support of $1.3200 after it lost about 100 pips yesterday. Demand for euro was limited after the ECB President Mario Draghi said yesterday policy makers expect interest rates in the region to stay low for an extended period. GBP/USD is trading just above $1.5100 after it slid by about 90 pips yesterday. The Bank of England left investors waiting for an expected announcement next week of a new strategy to get British economy back in shape. USD/JPY is around 99.55 after it gained about 170 pips yesterday. USD/CHF is trading above the 200-day MA at 0.9360 after it gained more than 100 pips yesterday. AUD/USD slid to the new almost 3-year low at $0.8889 as the Reserve Bank of Australia is expected to cut rates next week. Australian producer inflation turned out to be lower than expected (0.1% vs. 0.5%). NZD/USD fell by more than 100 pips yesterday and is trading in the $0.7887 area. USD/CAD rose to 1.0350 Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://www.fbs.com/analytics/2013-08-02/23151-ausust-2-all-eyes-nfp Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 5, 2013 Author Share Posted August 5, 2013 The Reserve Bank of Australia will announce its interest rate decision tomorrow at 04:30 GMT. Swaps data from Bloomberg suggest that markets are fully pricing in a 25-basis-points cut to 2.5%. The RBA’s monetary policy statement will be released on Friday. Last week the RBA Governor Glenn Stevens said that “the inflation outlook may afford some scope to ease policy further if needed to support demand”. Retail sales grew at their weakest pace in 51 years in the year to June 30, 2013. “The unemployment rate is still rising and that economic growth is still below trend, business and consumer confidence remains subdued and non-mining-related spending restrained,” says ANZ. AUD/USD renewed 3-year low sliding to $0.8847, to the 100-month MA. Last week the pair lost more than 300 pips and closed below the psychological level of $0.9000. In the short-term Aussie is oversold which allows some consolidation ahead of further losses. The outlook for the pair will remain negative as long as it stays below $0.9388/9400. The first target lies at $0.8550. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 6, 2013 Author Share Posted August 6, 2013 Market Analytics:FBS Markets Inc. Key currency options Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (14:00 GMT). Here are the key options expiring today: EUR/USD: $1.3050, $1.3125, $1.3150, $1.3285; GBP/USD: $1.5300; USD/JPY: 99.00 99.10 99.15 99.60 100.00; USD/CHF: 0.9200; AUD/USD: $0.8800, $0.9000, $0.9070; USD/CAD: 1.0370; NZD/USD: $0.7800; AUD/CAD: 0.9400; EUR/JPY: 129.85. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/news/show/325 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 6, 2013 Author Share Posted August 6, 2013 Market Analytics:FBS Markets Inc. August 6: European session Data released today in the euro area was generally encouraging: EUR/USD spiked up to $1.3295, but then eased down to $1.3270. UK production data was also better than expected GBP/USD reached $1.5392 before returning to the $1.5360 area. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/news/show/326 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 6, 2013 Author Share Posted August 6, 2013 Market Analytics:FBS Markets Inc. NZD/USD: bearish picture New Zealand dollar recovered its positions after the scandal caused by contaminated dairy product woes. On Monday NZD/USD opened the week with a bearish gap and tested a low at $0.7735, but has finally closed the gap, forming a strong green candle. On Tuesday the pair extended the upside to $0.7890, but was capped by the bottom of the strong bearish Ichimoku. Resistance for the pair is now seen at $0.7875, $0.7900 (50-day MA) and $0.7915, while support – at $0.7860/50, $0.7830 and $0.7800. The near-term prospects of the pair look bearish, but a rise above $0.7900 could improve the picture. The market attention is now focused on the New Zealand labor market data at 22:45 GMT. According to the consensus forecast, unemployment rate may increase to 6.3%, while employment – to rise by 0.3% q/q (prior: +1.7%). These data releases are a new downside risk for the pair: negative data will put the prospects of the NZ rate hikes into question. Chart. Daily NZD/USD Chart. H4 NZD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/analitycs/show/448 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 6, 2013 Author Share Posted August 6, 2013 Market Analytics:FBS Markets Inc. USD/CHF: daily update USD/CHF fell last week to 1-month low at 0.9227. Then the greenback tried to recover and almost reached 0.9400, but then slid below 0.9300. The bulls and bears are struggling between 61.8% and 76.4% retracement of the advance from June to July at 0.9370 and 0.9280 respectively. Below the latter US currency will be vulnerable for a decline to 0.9205 and 0.9170 (trend line support from February). Stability below 0.9370 will keep the bearish possibility valid this week. Still US data released this week has so far been positive enough. ISM non-manufacturing index jumped from 52.2 to 56.0, while the nation’s trade deficit contracted. For now, however, this data had little impact on USD/CHF. Сhart. Daily USD/CHF Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: [urlhttp://fxbazooka.com/en/analitycs/show/449[/url] Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 6, 2013 Author Share Posted August 6, 2013 Market Analytics:FBS Markets Inc. BofA: bearish on EUR/USD According to analysts at Bank of America Merrill Lynch, the US dollar is now forming a base, returning to a larger bullish trend. In their view, a daily close of EUR/USD below $1.3166 would confirm the top and a turn lower with targets at $1.2457 and below. A break above the trend line resistance at $1.3322 would return the pair into the consolidation phase. The bearish view would be invalidated only on a close above $1.3418. Chart. H4 EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<<[/center] Comment here: ] Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 7, 2013 Author Share Posted August 7, 2013 Demand for JPY is rising Japan is getting ready for Obon* holidays. Businesses in Japan shut down for a couple of weeks around the middle of August. Mizuho: “There are some expectations that investors will redeem, repatriate or convert earnings, whether they are dividends or coupons back into JPY before the Obon holidays.” As a result, demand for JPY from Japanese investors is expected to rise ahead of big capital inflows from interest payments on the country’s large US Treasury holdings. “It is the fear of the flow rather than the actual flow that is causing yen strength. What it is doing is that it is causing investors around the world to cut long USD/JPY positions,” adds the bank. *Obon or just Bon is a Japanese Buddhist custom to honor the spirits of one’s ancestors. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/news/show/331 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 7, 2013 Author Share Posted August 7, 2013 BofA: diamond top in EUR/USD According to analysts at Bank of America, EUR/USD is now in process of forming a “Diamond Top” pattern against February/June trend line resistance (currently at $1.3316). "An impulsive break below $1.3250 confirms the formation, opening the August 2 low at $1.3180, and an eventual resumption of the larger bear trend to $1.3095 (200-day MA), then $1.2818 and eventually $1.2457 and below," analysts forecast. [/center] Сhart. H4 EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com...litycs/show/460 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 9, 2013 Author Share Posted August 9, 2013 Stock market: an update Nikkei closed up by 0.07% at 13,615.19. European stocks following Asia in opening higher on a generally positive Chinese data. Data from Bloomberg Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/news/show/342 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 9, 2013 Author Share Posted August 9, 2013 EUR: grounds for growth We recommend you to have a quick glance at the July/August euro zone macrostatistics. Most of the readings has improved since the previous period. What is more, many of the indicators have reached their best readings in a year or even two. Euro zone Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/news/show/343 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 9, 2013 Author Share Posted August 9, 2013 USD/CAD: daily update USD/CAD rose to 1.0445 on Wednesday, but then formed a large bearish candle on Thursday losing about 100 pips. Today US dollar is trading on the downside, at the lower edge of the daily Ichimoku Cloud (1.0295). Next support lies at 1.0275 (support line connecting May and July lows, 100-day MA), 1.0245 (July low), 1.0235 (38.2% retracement of the advance from September to July). Resistance lies at 1.0330, 1.0360 and 1.0380. The key event ahead is the release of Canada’s labor market data at 12:30 GMT. Sell USD/CAD is case of the positive employment change and buy in case of the negative data. Chart. Daily USD/CAD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/news/show/343 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 9, 2013 Author Share Posted August 9, 2013 USD may bottom soon The main question for the market players is whether the Federal Reserve will be the first major central bank to withdraw monetary stimulus. The Fed’s policymakers have hinted in recent weeks that the central bank could start to scale back its monthly bond buying in September, but this will depend on further improvement in the job market. On Friday, August 2, US Non-Farm disappointed investors (the number of employed rose by 162K vs. 184K expected). This was weighting on USD during the whole week as traders have doubts about the Fed’s resolve to start tapering QE. US unemployment claims fell to the lowest level since 2007. In addition, there were some signs of economic improvement in Europe and China. EUR/UD rose to $1.3400. On Thursday US dollar index slid to 7-week low below 81.00. Still, many analysts think that USD won’t decline much further. The Fed is expected to start reducing stimulus sooner or later. Next week the US will release some important data like retail sales on Tuesday, August 13. There will be also releases of inflation, industrial production, manufacturing activity, housing market and consumer sentiment. Good figures from America will change the market’s sentiment and make USD strengthen. Chart. Daily USD/CAD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/analitycs/show/473 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 12, 2013 Author Share Posted August 12, 2013 August 12: USD recovered More Forex news & analytics at FX Bazooka The greenback strengthened before US data due tomorrow may show retail sales rose for a fourth month in a row, adding to the case for the Fed to reduce monetary stimulus. EUR/USD opened with a gap down at $1.3318, then rose to $1.3343 before returning lower, to $1.3325. EUR/JPY rose from a 6-week low below 128.00 before reports due on Tuesday and Wednesday that may show industrial production and GDP in the euro area rebounded. GBP/USD also opened with a gap down at $1.5483, the tested $1.5520 before returning below $1.5500. USD/JPY strengthened to 96.60 after a dip to 95.90. Japanese GDP disappointed: the nation's economy added only 0.6% vs. the forecast of 0.9% growth. Japan’s top companies reporting showed they doubled earnings in Q2 from a year earlier, exceeding already high forecasts and generating support for the economic recovery. Tonight Japan is scheduled to release core machinery orders data (forecast – negative) and the Bank of Japan’s policy meeting minutes. USD/CHF edged higher to 0.9240. AUD/USD opened the week at $0.9190, tried to strengthen, but was capped at $0.9225. NZD/USD opened the week with a small bearish gap. The growth attempt of the kiwi was contained by the Friday’s high of $0.8055. USD/CAD is trading below 1.0300. More Forex news & analytics at FX Bazooka Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://www.fbs.com/analytics/2013-08-12/23182-august-12-usd-strengthened Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 12, 2013 Author Share Posted August 12, 2013 GBP/USD: Elliot wave analysis Weekly. On the weekly chart there’s a global Zigzag A-B-C. The pair keeps forming the wave С which aims at the level 1.1 where the pair was last seen in 1985. Chart. Weekly GBP/USD H12. The pair keeps forming corrective wave (II). Chart. H4 GBP/USD Roman Petuchov for FBS Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/news/show/343[/b] Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 12, 2013 Author Share Posted August 12, 2013 EUR/USD: Elliot wave analysis Monthly. The pair may have finished forming the wave B of the rising Zigzag А-В-С. Wave B is in the form of the Triple Three [w]-[x]-[y]-[x]-[z]. EUR/USD currently keeps forming wave C. Let’s analyze the wave’s structure in detail. Chart. Monthly EUR/USD Daily. Euro has almost finished forming corrective wave II. The critical level of this marking is shown on the picture with the red line. If the price crosses this line, the marking should be changed. In this case we’ll stick to an alternative scenario, according to which EUR/USD keeps forming the wave (. Chart. Daily EUR/USD H4. The wave II looks complete. We expect a decline in the wave III. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://www.fbs.com/analytics/2013-08-12/23188-eurusd-elliot-wave-analysis Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 12, 2013 Author Share Posted August 12, 2013 Stock market update Asian shares were generally higher on Monday after Chinese stocks surged to a 3-1/2 week high as investors were still last week’s encouraging data from the world’s second-biggest economy, helping offset a slightly disappointing Japanese Q2 GDP report (the nations GDP growth was 0.6% vs. 0.9% expected). Nikkei closed down by 0.7% at 13,519.43. The index managed to pare some losses after an initial dip by as much as 1.4% and the visit of 6-week low. USD/JPY initially weakened, but then turned around in late morning trade. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/news/show/346 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 12, 2013 Author Share Posted August 12, 2013 CFTC: speculators cut USD longs Here are the essentials of the latest Commitments of Traders (COT) report, released on August 9 by the Commodity Futures Trading Commission (CFTC) for a week ended on August 6. The value of the dollar’s net long position declined from $24.45B in a week ended July 30 to $21.62B on a week ended August 6. Large speculators have been reducing long USD bets for the third consecutive week. They mostly cut short bets on almost all the currencies except AUD and NZD. EUR. Market players turned long on EUR: there were 6K net long contracts compared to 8.5K net shorts in the previous week.. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/news/show/347 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 12, 2013 Author Share Posted August 12, 2013 USD: factors to watch (August 12-16) Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/news/show/348 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 12, 2013 Author Share Posted August 12, 2013 EUR: factors to watch (August 12-16) Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/news/show/349 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 12, 2013 Author Share Posted August 12, 2013 GBP/USD: Elliot wave analysis Weekly. On the weekly chart there’s a global Zigzag A-B-C. The pair keeps forming the wave С which aims at the level 1.1 where the pair was last seen in 1985. Chart. Weekly GBP/USD H12. The pair keeps forming corrective wave (II). Chart. H12 GBP/USD H4. The wave (II) is taking form of a rising Zigzag. We are now witnessing the second leg of this Zigzag – c. In the near term we expect a small corrective wave [4], which may take form of a flat. After that the market will rise a bit in the wave [5]. Chart. H4 GBP/USD Roman Petuchov for FBS Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/analitycs/show/476 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 12, 2013 Author Share Posted August 12, 2013 EUR/USD: waiting for the EU GDP The single currency has slowed its rally after having peaked at $1.3400 on Thursday. On Monday EUR/USD opened the week with a bearish gap and is now testing the levels below $1.3300. There is nothing strange about it as the pair has approached a strong resistance area at $1.3400/15 (June highs, 200-week MA) and then – at $1.3440/65 (100- and 55-month MAs). Current strength of the euro can be explained by the remaining uncertainty about the Fed’s QE tapering and by the positive euro zone’s macro trend. Questions about the US monetary policy are likely to stay the main EUR/USD factor for the next couple of months. Even if the euro zone issues brilliant statistics, US policy tightening news will push EUR/USD lower. Euro has room for strength as long as uncertainty in America persists. As for the euro zone, this week the market will be closely watching the block’s preliminary Q2 GDP. According to the consensus, the euro zone’s economy returned to growth for the first time since 2011 and expanded by 0.2% q/q (Q1: -0.2% q/q). Positive data could rapidly push the EUR/USD to the upside: no doubt that the end of the 6-quarter recession is a good sign. However, it is important to remember that growth is widely expected to stay very slow in the next months. The euro zone’s recovery is very vulnerable to all the external conditions. Near-term support is seen at $1.3280 (bottom of a July-August channel, 2013 resistance), $1.3230, $1.3200 and $1.3180. Slide below the last level could be a good selling opportunity. Chart. Daily EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! More news and analytics here >>Welcome to FXBazooka.com<< Comment here: http://fxbazooka.com/en/analitycs/show/479[/b][/color] Quote Link to comment Share on other sites More sharing options...
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