Forex Knowledge 11 APRIL 2014 currency Report.
A sudden selloff led to the technical status of the U.s. market fell more than 3%, the highest rate since 2011, which pulled the market down too on the Nasdaq. Many in the market, as the Dow has moved more and the sentiment is to get whipsawed every second of the day.
The Dow (16170.22-1.52%) again raised doubts about a bullish position on the tech selloff affected in a big way. To avoid getting whipsawed in this most difficult of times, the better we get rising only the company by closing more than 16600-50 or a rough break below the 16,000-15800.
Dax (9454.54,-0.54%) is slowly losing the rising hope it keeps failing to break above the increase in the signal to the next stage of 9730-9800. Now we watch with a neutral bias support. 9300
Asian markets are trading at deeply in the red.
The Nikkei (13969.65,-2.31) has broken below the fundamental, long-term support 14200 150 and could drop in the next few days and then 13750 13250.
Nifty (6796.40, + 0.00%) may open lower sync global cue but it is important to see how the gap down opening deals with the Bulls. In the short term, the bullish momentum remains unchanged above 6745-35.
COMMODITIES
Gold (1319.215) came off a little after the intraday high 1325.2 today. Despite the above, we may see some more room for manoeuvre to the towering 1325 1340-1375 fell back to 1310.
Silver (20.013) became a resistance close to 20.40 but once again trying to break above 20.4 20.5 zone. Gold Silver ratio (65.883) is a short-term uptrend and above sixty-five, it can be applied to 66.58-66.75. This may be due to the rise of the metals in a few times.
Copper (3.035) ranged from 3-3.07 range, and may continue in so little time. Unless there is a break in this area is seen as a further movements remain vague. It is a short-term uptrend after 14-Mar.
Brent (107.52) are tested to support the daily weekly charts shows the near term bullishness. If we see a rise towards the 109-110 when it violates the 108 108.5. But can not be blank in the autumn of 108 levels right now.
Nymex WTI (74.77) has come off a bit after testing the channel resistance near 103.77-80 on the daily charts. If this is the near term changes may limit the area of 102-103.8 sometime before targeting a 104-106.
THE CURRENCIES OF THE
The dollar index (90.75) is responsible to have the best chance to push it further down the major support area of 79-78, but expect a fight bulls 79.25-79 in the last few weeks.
EUR (1.3894) is testing its resistance to 1.3885-1.39 1.40 best week in recent months and appears to be possible. From a broader perspective of the great benefits is to break above 1.40, and at the same time, the dollar index is less than 79.
Dollar-yen (103.35) has reached a very crucial point, as it is in the lower end of the 10-week channel. By keeping the above 101.50, gradual bounce toward the 103 is possible but the break below 101.50 to take in its final medium-term support to 111.40-50. Our bias is neutral.
Euro-yen (115.47) cross Test support band 140.50-139, 50 and the price action confirms the medium-term trend. The Bulls will try to return to 139.50.
Pound (1.6772) is facing some of the sales territory 1.6820 1.6780-as expected, but this small correction after a big rally could continue towards the 1.7050-1.70.
Aussie (0.9384) is now selling pressure at higher levels, as expected, but the uptrend remains intact, as long as the 0.9325-20 is not broken. Our bias is neutral at the moment.
Dollar-rupee (59.69) broke over right in front of the sale near 60.30 60.20 but returned to the day's low. The consolidation of the status of the dollar, the rupee to run a bit longer than expected, especially in light of the extended weekend. It can trade within the region, 58.80 60.30 second session before making a decisive move.
INTEREST RATES
US 10 year (2,65%) and 5 v (1.59%) dipped 2.60% and closer to support almost 1.60 1.55% and we'll see a bounce back towards 2.75-1.75 percent, respectively.
Germany and the United States, the 2 Yr spread (0.17%) is a little bit of both (1.3894), which is testing resistance at its current level, and are expected to originate from here. The German and US 10 Yr spread (-1.08%) has developed a further test the resistance of the near-1.05%. German 10 Yr (1.52%) fell and is close to 1.50% our goal and we will see a bounce here.
The United States and Japan, 10 Yr spread (2.05%) is dipped 2.05% of the support. Dollar-yen (103.35) dipped yesterday to the United States and Japan, the yield spread, relative to the perfect co. Below 2.05% yield spread, and we'll see the dollar-Yen drop further to test support almost 101. Japan 10 Yr (0.61%) is dropped. 10-5 Yr yield differential (0.42%) has broken below the support and will now be able to test the support almost 0.40%.
India and the United States for 10 Yr spread (6.31%) dropped 10 Yr yields in India (9.00%) decreased. But it is a general uptrend that can test the 9.25%. But we must be wary of the IIP, the CPI data today and next week.
The BOE held interest rates unchanged yesterday, as expected. The monetary policy Committee says that it looks like a different economic indicators such as unemployment and as a specific indicator suggested possible interest rate hike may happen in 2015
A sudden selloff led to the technical status of the U.s. market fell more than 3%, the highest rate since 2011, which pulled the market down too on the Nasdaq. Many in the market, as the Dow has moved more and the sentiment is to get whipsawed every second of the day.
The Dow (16170.22-1.52%) again raised doubts about a bullish position on the tech selloff affected in a big way. To avoid getting whipsawed in this most difficult of times, the better we get rising only the company by closing more than 16600-50 or a rough break below the 16,000-15800.
Dax (9454.54,-0.54%) is slowly losing the rising hope it keeps failing to break above the increase in the signal to the next stage of 9730-9800. Now we watch with a neutral bias support. 9300
Asian markets are trading at deeply in the red.
The Nikkei (13969.65,-2.31) has broken below the fundamental, long-term support 14200 150 and could drop in the next few days and then 13750 13250.
Nifty (6796.40, + 0.00%) may open lower sync global cue but it is important to see how the gap down opening deals with the Bulls. In the short term, the bullish momentum remains unchanged above 6745-35.
COMMODITIES
Gold (1319.215) came off a little after the intraday high 1325.2 today. Despite the above, we may see some more room for manoeuvre to the towering 1325 1340-1375 fell back to 1310.
Silver (20.013) became a resistance close to 20.40 but once again trying to break above 20.4 20.5 zone. Gold Silver ratio (65.883) is a short-term uptrend and above sixty-five, it can be applied to 66.58-66.75. This may be due to the rise of the metals in a few times.
Copper (3.035) ranged from 3-3.07 range, and may continue in so little time. Unless there is a break in this area is seen as a further movements remain vague. It is a short-term uptrend after 14-Mar.
Brent (107.52) are tested to support the daily weekly charts shows the near term bullishness. If we see a rise towards the 109-110 when it violates the 108 108.5. But can not be blank in the autumn of 108 levels right now.
Nymex WTI (74.77) has come off a bit after testing the channel resistance near 103.77-80 on the daily charts. If this is the near term changes may limit the area of 102-103.8 sometime before targeting a 104-106.
THE CURRENCIES OF THE
The dollar index (90.75) is responsible to have the best chance to push it further down the major support area of 79-78, but expect a fight bulls 79.25-79 in the last few weeks.
EUR (1.3894) is testing its resistance to 1.3885-1.39 1.40 best week in recent months and appears to be possible. From a broader perspective of the great benefits is to break above 1.40, and at the same time, the dollar index is less than 79.
Dollar-yen (103.35) has reached a very crucial point, as it is in the lower end of the 10-week channel. By keeping the above 101.50, gradual bounce toward the 103 is possible but the break below 101.50 to take in its final medium-term support to 111.40-50. Our bias is neutral.
Euro-yen (115.47) cross Test support band 140.50-139, 50 and the price action confirms the medium-term trend. The Bulls will try to return to 139.50.
Pound (1.6772) is facing some of the sales territory 1.6820 1.6780-as expected, but this small correction after a big rally could continue towards the 1.7050-1.70.
Aussie (0.9384) is now selling pressure at higher levels, as expected, but the uptrend remains intact, as long as the 0.9325-20 is not broken. Our bias is neutral at the moment.
Dollar-rupee (59.69) broke over right in front of the sale near 60.30 60.20 but returned to the day's low. The consolidation of the status of the dollar, the rupee to run a bit longer than expected, especially in light of the extended weekend. It can trade within the region, 58.80 60.30 second session before making a decisive move.
INTEREST RATES
US 10 year (2,65%) and 5 v (1.59%) dipped 2.60% and closer to support almost 1.60 1.55% and we'll see a bounce back towards 2.75-1.75 percent, respectively.
Germany and the United States, the 2 Yr spread (0.17%) is a little bit of both (1.3894), which is testing resistance at its current level, and are expected to originate from here. The German and US 10 Yr spread (-1.08%) has developed a further test the resistance of the near-1.05%. German 10 Yr (1.52%) fell and is close to 1.50% our goal and we will see a bounce here.
The United States and Japan, 10 Yr spread (2.05%) is dipped 2.05% of the support. Dollar-yen (103.35) dipped yesterday to the United States and Japan, the yield spread, relative to the perfect co. Below 2.05% yield spread, and we'll see the dollar-Yen drop further to test support almost 101. Japan 10 Yr (0.61%) is dropped. 10-5 Yr yield differential (0.42%) has broken below the support and will now be able to test the support almost 0.40%.
India and the United States for 10 Yr spread (6.31%) dropped 10 Yr yields in India (9.00%) decreased. But it is a general uptrend that can test the 9.25%. But we must be wary of the IIP, the CPI data today and next week.
The BOE held interest rates unchanged yesterday, as expected. The monetary policy Committee says that it looks like a different economic indicators such as unemployment and as a specific indicator suggested possible interest rate hike may happen in 2015
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