Forex Knowledge 6 JUNE 2014 currency Report.
The ECB took the first steps towards monetary policy loosening, but not anything surprising or unexpected move the market in a major way. Most of the markets are slightly positive without a strong trend.
The Dow (16836.11, + 0.59%) shot up to test the contracting authority in the area is 16800-900 top end as expected. This may not extend higher than the 17,000-200, but there is one should be wary of again. Dax (9947.83, + 0.21%) of tests in the 10,000 levels but still looks like an irregular flat correction, which in the long term, the rising power, which seems to be strong enough to Push 10300-400.
The Nikkei (15076.44,-0.02%) is fading in the 15100-150 as expected and may have created a double top 15140 levels. A short term fix here would be normal and even healthy for the Bulls. Shanghai (2035.87,-0.25%) marketed between 1990-2080 for a base-building process but keep an eye on the 2010 & 2060 early signs.
Nifty (7474.10, + 0.97%) broke down and ended before the 7450 us bulls, as of yesterday. We can expect the 7500-50 soon now, especially when BankNifty manages to get more than 50 15420. 'S any dip in support of expected 7410 7390.
COMMODITIES
Commodities as a whole had a consolidative (gold) or weak (oil, copper), this week and saw a little weak in the coming week.
Gold (1254) confirms this week after has dropped sharply: o last week. Search for 1225 next week. Gold is the weak Euro (gold-Euro 918) and silver (gold black agate Garnet 65.69). Silver (19.06) itself is a long term structural downtrend but will pick up towards the long-term resistance of opportunities at 19.40 in the near future.
Interesting to WTI has shifted a little bit of gold this week, and may rise a bit next week to keep the dollar price of WTI (102.43) near term pressure test 101, maybe even 100. The longer term trend is still bullish, paragraph 110. Brent (108.90) has decreased from 111 to this whole week. However, it will bounce from 107.77 yesterday, a long term trendline support on a weekly basis, candles. It is therefore the very rise of 111-112, again in coming weeks.
Since March, after rising from 2.8770 copper (3.0870) is coming in two weeks to review the long term downtrend from 3.80 (February 13). A break below, however, it is necessary to establish the immediate support to 3.07.
FOREX
The ECB communicates QE coming in the near future in some form. But the surprise is the lack of led to a very sharp recovery at the beginning of the euro and the dollar index in the interim. Please note, except for the euros other currencies still erupt over their respective areas, but when they do, the dollar could crash a lot.
EUR (1.3661) tested the long-term aid of 1.35 to make a great base for the month. After the sharp bounce signals a reversal and a 2-3 day's consolidation, it may head more toward 1.3750-3800.
Dollar-yen (102.36) takes after the break to get to our original goal of 102.75 103.00 and now can not even 50. Still remains strong in the support area 101.95-85. Euro-yen (139.83) tested the levels of 1.38.70 before rebounding on the back of the huge volatility in the level of 140 to the Euro against the dollar. It takes shape of triangle, which if true, could push 141.50 level.
Pound (1.6812) trying to get out of its rut, but it is still within the previous week. Keep an eye out for the big move and 1.6885 1.6690 signals. The trend could cancel down up soon.
Aussie (0.9331) is great, but, generally, the trendline resistance 0.9365 is stuck with the 0.92 0.94 territory now no obvious short-term directional pointers. Just break these 0.92 0.94 can produce any meaningful moves.
Dollar-rupee (59.33) may open weak today after the dollar index started yesterday. Immediate support for 59.00 58.90 below which should be the watch-bullish momentum would weaken. Just below the in-58.40 58.80-75 retest 30 levels should be expected.
INTEREST RATES
Confused on the bond in the world market has a lot of diversification, which can lead to good movements in currencies.
The ECB will make the banks pay for the 0.1%, if they want to keep money overnight. But it also lends them a cheap fixed rate for 8 years, starting to give undertakings. The market is the acclaimed Draghi, sending yields lower (German 10 Yr of 1.40% compared to 1.43 percent yesterday in the morning), and the Euro Stoxx 50 index up 0.90%. Spanish 10 Yr (2.82%) is not shifted down a lot though and has a 1.42 percent higher than the German 10 Yr; as of yesterday, there is a long term support near current levels, that does not degrade easily.
Raghu Border still the darling of the global bond investors. India's 10 Yr India has now dropped 8.53% and 8.25% applied to much lower levels of close to or even lower than that. India and the United States for 10 Yr spread (5.95%) 6.02%, and may be subject to 5.75% in the next few days/weeks.
This is a great development and the rupee.
US yields (2.58%) is a tiny bit smaller than the day before, but the crucial 2.50% above the level of support.
The ECB took the first steps towards monetary policy loosening, but not anything surprising or unexpected move the market in a major way. Most of the markets are slightly positive without a strong trend.
The Dow (16836.11, + 0.59%) shot up to test the contracting authority in the area is 16800-900 top end as expected. This may not extend higher than the 17,000-200, but there is one should be wary of again. Dax (9947.83, + 0.21%) of tests in the 10,000 levels but still looks like an irregular flat correction, which in the long term, the rising power, which seems to be strong enough to Push 10300-400.
The Nikkei (15076.44,-0.02%) is fading in the 15100-150 as expected and may have created a double top 15140 levels. A short term fix here would be normal and even healthy for the Bulls. Shanghai (2035.87,-0.25%) marketed between 1990-2080 for a base-building process but keep an eye on the 2010 & 2060 early signs.
Nifty (7474.10, + 0.97%) broke down and ended before the 7450 us bulls, as of yesterday. We can expect the 7500-50 soon now, especially when BankNifty manages to get more than 50 15420. 'S any dip in support of expected 7410 7390.
COMMODITIES
Commodities as a whole had a consolidative (gold) or weak (oil, copper), this week and saw a little weak in the coming week.
Gold (1254) confirms this week after has dropped sharply: o last week. Search for 1225 next week. Gold is the weak Euro (gold-Euro 918) and silver (gold black agate Garnet 65.69). Silver (19.06) itself is a long term structural downtrend but will pick up towards the long-term resistance of opportunities at 19.40 in the near future.
Interesting to WTI has shifted a little bit of gold this week, and may rise a bit next week to keep the dollar price of WTI (102.43) near term pressure test 101, maybe even 100. The longer term trend is still bullish, paragraph 110. Brent (108.90) has decreased from 111 to this whole week. However, it will bounce from 107.77 yesterday, a long term trendline support on a weekly basis, candles. It is therefore the very rise of 111-112, again in coming weeks.
Since March, after rising from 2.8770 copper (3.0870) is coming in two weeks to review the long term downtrend from 3.80 (February 13). A break below, however, it is necessary to establish the immediate support to 3.07.
FOREX
The ECB communicates QE coming in the near future in some form. But the surprise is the lack of led to a very sharp recovery at the beginning of the euro and the dollar index in the interim. Please note, except for the euros other currencies still erupt over their respective areas, but when they do, the dollar could crash a lot.
EUR (1.3661) tested the long-term aid of 1.35 to make a great base for the month. After the sharp bounce signals a reversal and a 2-3 day's consolidation, it may head more toward 1.3750-3800.
Dollar-yen (102.36) takes after the break to get to our original goal of 102.75 103.00 and now can not even 50. Still remains strong in the support area 101.95-85. Euro-yen (139.83) tested the levels of 1.38.70 before rebounding on the back of the huge volatility in the level of 140 to the Euro against the dollar. It takes shape of triangle, which if true, could push 141.50 level.
Pound (1.6812) trying to get out of its rut, but it is still within the previous week. Keep an eye out for the big move and 1.6885 1.6690 signals. The trend could cancel down up soon.
Aussie (0.9331) is great, but, generally, the trendline resistance 0.9365 is stuck with the 0.92 0.94 territory now no obvious short-term directional pointers. Just break these 0.92 0.94 can produce any meaningful moves.
Dollar-rupee (59.33) may open weak today after the dollar index started yesterday. Immediate support for 59.00 58.90 below which should be the watch-bullish momentum would weaken. Just below the in-58.40 58.80-75 retest 30 levels should be expected.
INTEREST RATES
Confused on the bond in the world market has a lot of diversification, which can lead to good movements in currencies.
The ECB will make the banks pay for the 0.1%, if they want to keep money overnight. But it also lends them a cheap fixed rate for 8 years, starting to give undertakings. The market is the acclaimed Draghi, sending yields lower (German 10 Yr of 1.40% compared to 1.43 percent yesterday in the morning), and the Euro Stoxx 50 index up 0.90%. Spanish 10 Yr (2.82%) is not shifted down a lot though and has a 1.42 percent higher than the German 10 Yr; as of yesterday, there is a long term support near current levels, that does not degrade easily.
Raghu Border still the darling of the global bond investors. India's 10 Yr India has now dropped 8.53% and 8.25% applied to much lower levels of close to or even lower than that. India and the United States for 10 Yr spread (5.95%) 6.02%, and may be subject to 5.75% in the next few days/weeks.
This is a great development and the rupee.
US yields (2.58%) is a tiny bit smaller than the day before, but the crucial 2.50% above the level of support.
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