Forex Knowledge 26 MAY 2014 currency Report.
Asia-Pac mood this morning is very positive after coming to the U.S. home purchases, but the price action can be slow today because u.s. markets are closed today for the memorial day.
The Dow is a contraction (16606.27, + 0.38%) than in the rallies and declines are shrinking even more upper & lows coming. Keep an eye on the downside and 16,300 16800-900 explosive breakout of different upside down. Dax (9768.01, + 0.48%) chart shows the price of a similar contraction too with the borders becoming 9600 and 9900. It is close to the all time high of 9,800 levels, so expect some good moves.
The Nikkei (14565.06, + 0.71%) at 4-week high and now the above in a short period of time can trigger a reversal of 16650 and rally 15200-300 or even higher. Shanghai (2038.18, + 0.18%) testing the resistance of the band for the second time in the 2040-50 for so many days without a lot of momentum. 1990-2080 broader sideways move may continue for some time a base-building process. Supports are 2010-1990.
The SBI credit losses decline moved to good day 7367.10, + 1.25%), Nifty (better day than the position of the SBI rallied by more than 10% today. The rally still looks more like a repair than cutting with shallow pullbacks upmove 7130 fresh deeper into the strong rise is justified. Keep an eye on the price action near the 7400-15 decide to switch to the real trend emerge.
COMMODITIES
Copper and crude oils and fats appear to be strong even though gold and silver will remain stable.
Gold (1293.62) is stable, and has ranged from 1284-1297 region in the last session. If the magnitude of the movement breakabove 130-1303, can still keep 1284 on the downside. Not a big business now expects.
Silver (19.457) is also stable and can stand up to 19.66 a few times. The Gold-Silver ratio (66.46) seems to be bearish in the near future, 66-65, snapping a sharp decline or range-bound to move in the near future.
Copper (3.1845) has risen sharply on Friday and may target the channel resistance near 3.20-3.23, where you can see a little correction to 3.15. In the short term, seems to be rising.
Brent (110.030) has become when testing resistance close to 110.58 and, at the same time, which keeps it can calculate a little bit towards the 109 110.58 before testing again. But all in all it is a uptrend.
Nymex WTI (104.09) is still in its rally targeting the resistance near the 105-105.22 where it can is out of the shsrply 103-102. It is also possible to 102.94 to fall before you continue with the rise of 105.22.
FOREX
Although not as successful as the rupee or the actual EM currencies, the dollar strengthened against nearly all major currencies for now.
EUR (1.3619) keep belonging to get closer to the trendline support 1.3590-80, below which does not support cannot support the bulls ahead of 1.3400 1.3470 level. The weakness remains intact beneath the 1.3800 and any bounce is expected to face selling pressure.
Dollar-yen (101.95) testing resistance area above the 102.00-15-102 and take it for a major project in the area of 102.75 103.00.
Euro-yen (138.85) is testing important to support approximately 138.70-30 and tried a little bit of bounce. But if the resistance is 140 is out, there could be opportunities fell to test the 200-day MA 137.94 or even lower towards the 136.
The pound suffered from a sharp correction (1.6833) is getting closer to the area of significant support from 1.6730-20. Still, the uptrend remains intact, the objectives of the 1.70 break below the uptrend 1.6730 may itself and then take a dip in the sub-1, 6600 level would be in the cards.
Aussie (0.9235) tends to stay above the great support in the region after a dramatic drop in 0.9200-0.9150. But the current structure of the hinting more downmove towards 0.8950 break below 0.9150.
Dollar-rupee (58.52) hit a new low, as expected, and now closing at 58.33 58.52 founded bullish setup, which is activated only during the break below 58.86. Please note that we are coming closer to a bottom soon, however, none of the reinforcement of the movement is visible yet. 58.10 57.90 58.30, or begin to be bottoming out.
INTEREST RATES
The u.s. saw the decline in yields on Friday. 10 v (2.53%) has come down to test the critical level of 2.53% 5 v (1.53%) to loose a little bit of resistance in the area near the 1.55%. 30 Yr (3.40%) to test the support almost 3.38%. A clear distinction between the levels of 1.55% on both sides of a crucial 2.55% 10 v and 5 v offers us a new direction.
German 2 Yr spread (-0.26%) remained stable, while the Euro should continue to test (1.3619) support at current levels (weekly, line graphs). German 10 Yr (1.42%) saw the rise of 1.37% and 1.45% is close to the goal.
The United States and Japan, 10 Yr yield difference (1.95%) saw a slight dip in and test the support at the current level of 55 week MA and can continue to grow up as the dollar-yen (101.95) the number continues to grow. Japan 10 Yr (0.59%) is a little bit of resistance near the $ 0.60%. We look forward to keeping between 0.55%-0.60%.
10 Yr India (8.63%) have decreased even further and India and the United States for 10 Yr yield spread (6.10%) has become a test of support at the current level and we expect a bounce from there. If the bounce seen in these levels of risk is 8.50-8.55% of India remains open.
Asia-Pac mood this morning is very positive after coming to the U.S. home purchases, but the price action can be slow today because u.s. markets are closed today for the memorial day.
The Dow is a contraction (16606.27, + 0.38%) than in the rallies and declines are shrinking even more upper & lows coming. Keep an eye on the downside and 16,300 16800-900 explosive breakout of different upside down. Dax (9768.01, + 0.48%) chart shows the price of a similar contraction too with the borders becoming 9600 and 9900. It is close to the all time high of 9,800 levels, so expect some good moves.
The Nikkei (14565.06, + 0.71%) at 4-week high and now the above in a short period of time can trigger a reversal of 16650 and rally 15200-300 or even higher. Shanghai (2038.18, + 0.18%) testing the resistance of the band for the second time in the 2040-50 for so many days without a lot of momentum. 1990-2080 broader sideways move may continue for some time a base-building process. Supports are 2010-1990.
The SBI credit losses decline moved to good day 7367.10, + 1.25%), Nifty (better day than the position of the SBI rallied by more than 10% today. The rally still looks more like a repair than cutting with shallow pullbacks upmove 7130 fresh deeper into the strong rise is justified. Keep an eye on the price action near the 7400-15 decide to switch to the real trend emerge.
COMMODITIES
Copper and crude oils and fats appear to be strong even though gold and silver will remain stable.
Gold (1293.62) is stable, and has ranged from 1284-1297 region in the last session. If the magnitude of the movement breakabove 130-1303, can still keep 1284 on the downside. Not a big business now expects.
Silver (19.457) is also stable and can stand up to 19.66 a few times. The Gold-Silver ratio (66.46) seems to be bearish in the near future, 66-65, snapping a sharp decline or range-bound to move in the near future.
Copper (3.1845) has risen sharply on Friday and may target the channel resistance near 3.20-3.23, where you can see a little correction to 3.15. In the short term, seems to be rising.
Brent (110.030) has become when testing resistance close to 110.58 and, at the same time, which keeps it can calculate a little bit towards the 109 110.58 before testing again. But all in all it is a uptrend.
Nymex WTI (104.09) is still in its rally targeting the resistance near the 105-105.22 where it can is out of the shsrply 103-102. It is also possible to 102.94 to fall before you continue with the rise of 105.22.
FOREX
Although not as successful as the rupee or the actual EM currencies, the dollar strengthened against nearly all major currencies for now.
EUR (1.3619) keep belonging to get closer to the trendline support 1.3590-80, below which does not support cannot support the bulls ahead of 1.3400 1.3470 level. The weakness remains intact beneath the 1.3800 and any bounce is expected to face selling pressure.
Dollar-yen (101.95) testing resistance area above the 102.00-15-102 and take it for a major project in the area of 102.75 103.00.
Euro-yen (138.85) is testing important to support approximately 138.70-30 and tried a little bit of bounce. But if the resistance is 140 is out, there could be opportunities fell to test the 200-day MA 137.94 or even lower towards the 136.
The pound suffered from a sharp correction (1.6833) is getting closer to the area of significant support from 1.6730-20. Still, the uptrend remains intact, the objectives of the 1.70 break below the uptrend 1.6730 may itself and then take a dip in the sub-1, 6600 level would be in the cards.
Aussie (0.9235) tends to stay above the great support in the region after a dramatic drop in 0.9200-0.9150. But the current structure of the hinting more downmove towards 0.8950 break below 0.9150.
Dollar-rupee (58.52) hit a new low, as expected, and now closing at 58.33 58.52 founded bullish setup, which is activated only during the break below 58.86. Please note that we are coming closer to a bottom soon, however, none of the reinforcement of the movement is visible yet. 58.10 57.90 58.30, or begin to be bottoming out.
INTEREST RATES
The u.s. saw the decline in yields on Friday. 10 v (2.53%) has come down to test the critical level of 2.53% 5 v (1.53%) to loose a little bit of resistance in the area near the 1.55%. 30 Yr (3.40%) to test the support almost 3.38%. A clear distinction between the levels of 1.55% on both sides of a crucial 2.55% 10 v and 5 v offers us a new direction.
German 2 Yr spread (-0.26%) remained stable, while the Euro should continue to test (1.3619) support at current levels (weekly, line graphs). German 10 Yr (1.42%) saw the rise of 1.37% and 1.45% is close to the goal.
The United States and Japan, 10 Yr yield difference (1.95%) saw a slight dip in and test the support at the current level of 55 week MA and can continue to grow up as the dollar-yen (101.95) the number continues to grow. Japan 10 Yr (0.59%) is a little bit of resistance near the $ 0.60%. We look forward to keeping between 0.55%-0.60%.
10 Yr India (8.63%) have decreased even further and India and the United States for 10 Yr yield spread (6.10%) has become a test of support at the current level and we expect a bounce from there. If the bounce seen in these levels of risk is 8.50-8.55% of India remains open.
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