Forex Knowledge 11 JUNE 2014 currency Report.
The price action of the Dow (16945.92, + 0.02%) is somewhat reminiscent of September 2012 top, require caution, but if a repair will not emerge from the 17,000-200 soon, the bulls could push the index to 17400 600.
Dax (10028.80, + 0.20%) gives its first closure in over 10,000 levels and last repair requires a long-term bullish strength, what with the impending push up 10300-400 for as long as it remains above the 9800-700.
15028.41, + 0.22%), Nikkei (facing selling pressure near 15200-400 than expected. Fix up the 14,700-500 could be healthy for the bulls. Shanghai (2051.90,-0.03%) hits the top end of the contracting authority, between 2010-55. Keep an eye on the 2055 an early sign but the main breakout occurs only above-2080. Please note, once again, the bad news does not affect the price, which is a sign of strength.
Nifty (7656.40, + 0.02%) ended before 7640 a second consecutive day, but it has yet to break above 7740-60 (rising every day). A great uptrend remains intact is likely to rise toward the 8000-8200, and up to 8500 would be impossible but it is yet to be established, if the 7680 repair is complete.
COMMODITIES
Gold (1262.38) has risen to the level of the last sitting and aspires to 1240 1280 1260 above short-term 1261. All in all, the long term downtrend continues.
Silver (19.236) has also grown and can be a key target of 19.36 which if breaks can take it more toward the 19.50-20 in the long term. Gold-Silver ratio (65.59) came down to the level of 66, as expected, but can now recover from near current levels. This may indicate a surge in precious metals a few times now.
Nymex WTI (104.38) made the intra-day high of 105 105.22 105.06 yesterday touches the profitability target range. It may come as a bit of a correction toward the resumption of 104 before its rise towards 105.22 105.25. Gold-WTI in the relationship (12.0858) has been declining since January 14, coming close to the support level of 11.8-11.9 where it can recover towards a 12.5. This would give indications of gold against the WTI in the near future.
Brent (109.71) seems to whipsaw the 108-110 region without any further direction. We'll have to wait and see the rest of the region on both sides of the break moves. Now, in the short term looks bullish target of 111-112.
Copper (3.0570) has risen back to 3.0185 (low 9 June 2014) but could strengthen a bit 3.00 3.10 within the region in the longer term downtrend. The danger to drop towards the 2.95 can't make threes blank unless exchange rates is not seen. However, a break below 2.95 (if seen) can push it down to 2.90.
FOREX
Only the Aussie will be strengthened on the back of Chinese shares, but all the other majors have weakened considerably against the dollar.
EUR (1.3525) has been to fix the ground after you have created a significant victory in almost all of the latest 1.35, which is near to get tested against all odds. We look at the price action in the support area of the 1.3500-3475 now before taking any position even though the bullish View still not banned completely.
Dollar-yen (102.30) is trading close to 101.95-85 but dollar bulls is a support area above the 9 week long range 101-103 will continue to rally. Euro-yen (138.35), is pushed to the level of 140 to the euro's weakness. Now traders take a break after contracting a range of 138-140.
Pound (1.6744) did not break above the 1.6850-85 to signal a bullish reversal and still contained within the week. Keep an eye out for the support and resistance to 1.6850 1.6690-40.
Aussie (0.9377) is marketing more than the power of a large sample of the trendline resistance 0.9365 in but it is still above the Mediterranean, to reinforce the last swing high 0.9410 uptrend.
Dollar-rupee (59.29) spent sideways session uptrend fully intact. We are still waiting for the next stage of the rally and 59.45 above confirms the significant support has continued to 59.00.
INTEREST RATES
The German yield (5 v 0.43% 1.40%), 10 Yr is changed, the inside has generally decreased. But do not delete the invoice to 1.20% 10 Yr right now, because it may include levels of 1.43 percent.
US 5 v (1.40%) and 10 v (2.49%) have gone down a little bit and can align the lower 1.20% and 2.40% of the short-term critical levels of 2.55% and 1.55% keeps still. Yield differences are also trading lower.
10 Yr India (8.63%) has fallen further, while India and the United States for 10 Yr yield spread (5.95%) has risen slightly. India and the United States is still holding 10 yr yield spread to fall to 5.75 per cent, even though the trend is still down in the short-term.
The price action of the Dow (16945.92, + 0.02%) is somewhat reminiscent of September 2012 top, require caution, but if a repair will not emerge from the 17,000-200 soon, the bulls could push the index to 17400 600.
Dax (10028.80, + 0.20%) gives its first closure in over 10,000 levels and last repair requires a long-term bullish strength, what with the impending push up 10300-400 for as long as it remains above the 9800-700.
15028.41, + 0.22%), Nikkei (facing selling pressure near 15200-400 than expected. Fix up the 14,700-500 could be healthy for the bulls. Shanghai (2051.90,-0.03%) hits the top end of the contracting authority, between 2010-55. Keep an eye on the 2055 an early sign but the main breakout occurs only above-2080. Please note, once again, the bad news does not affect the price, which is a sign of strength.
Nifty (7656.40, + 0.02%) ended before 7640 a second consecutive day, but it has yet to break above 7740-60 (rising every day). A great uptrend remains intact is likely to rise toward the 8000-8200, and up to 8500 would be impossible but it is yet to be established, if the 7680 repair is complete.
COMMODITIES
Gold (1262.38) has risen to the level of the last sitting and aspires to 1240 1280 1260 above short-term 1261. All in all, the long term downtrend continues.
Silver (19.236) has also grown and can be a key target of 19.36 which if breaks can take it more toward the 19.50-20 in the long term. Gold-Silver ratio (65.59) came down to the level of 66, as expected, but can now recover from near current levels. This may indicate a surge in precious metals a few times now.
Nymex WTI (104.38) made the intra-day high of 105 105.22 105.06 yesterday touches the profitability target range. It may come as a bit of a correction toward the resumption of 104 before its rise towards 105.22 105.25. Gold-WTI in the relationship (12.0858) has been declining since January 14, coming close to the support level of 11.8-11.9 where it can recover towards a 12.5. This would give indications of gold against the WTI in the near future.
Brent (109.71) seems to whipsaw the 108-110 region without any further direction. We'll have to wait and see the rest of the region on both sides of the break moves. Now, in the short term looks bullish target of 111-112.
Copper (3.0570) has risen back to 3.0185 (low 9 June 2014) but could strengthen a bit 3.00 3.10 within the region in the longer term downtrend. The danger to drop towards the 2.95 can't make threes blank unless exchange rates is not seen. However, a break below 2.95 (if seen) can push it down to 2.90.
FOREX
Only the Aussie will be strengthened on the back of Chinese shares, but all the other majors have weakened considerably against the dollar.
EUR (1.3525) has been to fix the ground after you have created a significant victory in almost all of the latest 1.35, which is near to get tested against all odds. We look at the price action in the support area of the 1.3500-3475 now before taking any position even though the bullish View still not banned completely.
Dollar-yen (102.30) is trading close to 101.95-85 but dollar bulls is a support area above the 9 week long range 101-103 will continue to rally. Euro-yen (138.35), is pushed to the level of 140 to the euro's weakness. Now traders take a break after contracting a range of 138-140.
Pound (1.6744) did not break above the 1.6850-85 to signal a bullish reversal and still contained within the week. Keep an eye out for the support and resistance to 1.6850 1.6690-40.
Aussie (0.9377) is marketing more than the power of a large sample of the trendline resistance 0.9365 in but it is still above the Mediterranean, to reinforce the last swing high 0.9410 uptrend.
Dollar-rupee (59.29) spent sideways session uptrend fully intact. We are still waiting for the next stage of the rally and 59.45 above confirms the significant support has continued to 59.00.
INTEREST RATES
The German yield (5 v 0.43% 1.40%), 10 Yr is changed, the inside has generally decreased. But do not delete the invoice to 1.20% 10 Yr right now, because it may include levels of 1.43 percent.
US 5 v (1.40%) and 10 v (2.49%) have gone down a little bit and can align the lower 1.20% and 2.40% of the short-term critical levels of 2.55% and 1.55% keeps still. Yield differences are also trading lower.
10 Yr India (8.63%) has fallen further, while India and the United States for 10 Yr yield spread (5.95%) has risen slightly. India and the United States is still holding 10 yr yield spread to fall to 5.75 per cent, even though the trend is still down in the short-term.
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