News / Page 320

Forex news – The ECB’s next move and the effect on the euro

Posted on May 27, 2014 at 1:17 pm GMT

Much of the focus in foreign exchange markets is currently on the European Central Bank and what it will do when it meets on Thursday, June 5 in Frankfurt. Prior to this meeting and in the press conference that followed the May 8 ECB council, the bank’s President Mario Draghi stated that the Governing Council was “comfortable with acting next time”. This in turn led to a sharp drop in the euro, which was slated before the meeting to cross [..]

Technical Analysis – EURUSD rebounds off 3-month lows

Posted on May 27, 2014 at 7:40 am GMT

EURUSD is attempting to bounce off a 3-month low of 1.3612 touched on Monday, currently finding support at the 20-period moving average on the 4-hour chart around 1.3642. Next support is seen at 1.3614, the May 26 low. Resistance is seen at 1.3667 and 1.3686. The market remains below the Ichimoku cloud, which is a bearish signal. However the RSI and stochastic have shown some bullish signs, showing a potential weakening of the downside bias in the short-term. [..]

Technical Analysis – EURJPY bearish bias below cloud

Posted on May 27, 2014 at 6:44 am GMT

EURJPY remains bearish after breaking below key support at 140.00, also below the Ichimoku cloud on the daily chart. The Tenkan-sen and Kijun-Sen are negatively aligned, adding to the overall bearish bias. RSI is also in bearish territory below 50. Prices are hovering around the 61.8% Fibonacci retracement level of the upleg from 136.21 (February 4 low) to 143.77 (March 7 high). A move to the downside would target the 78.6% Fibonacci level at 137.85 and below this the February [..]

Asian Session – Euro consolidates gains despite Draghi’s dovish comments

Posted on May 27, 2014 at 6:27 am GMT

It has been more or less quiet in the foreign exchange markets in the past 24 hours or so, as the holidays in the United States and the United Kingdom have reduced trading volumes and volatility. The euro retained its gains, trading around 1.3652 against the dollar and 139.13 versus the yen. Despite the positive risk sentiment, the dollar was unable to convincingly break through the 102 level against the yen, trading at 101.92, while the aussie strengthened to around [..]

European Session – Euro off 3-month lows after European Parliament elections, Draghi speech

Posted on May 26, 2014 at 1:29 pm GMT

News flow was quiet as UK and US markets were closed for a bank holiday today, keeping trading volumes low. The market’s focus was on the European Parliament elections results and ECB President Mario Draghi’s speech, although neither were major market movers. The euro hovered close to a 3-month low reached against the dollar early in Asia today but managed to recover some losses as European markets took the opportunity to react to European Parliament election results. Although the election [..]

Forex News – European elections show rise of extreme parties, eurosceptics

Posted on May 26, 2014 at 9:56 am GMT

The European elections of May 22-25 were held in order to elect to the 751 members of the European Parliament; the legislative body of the European Union. The European Parliament’s powers have increased recently, as it will elect the Commission President, but it is perceived to be much less influential compared to national parliaments and the European Council of heads of state. The elections were about the impact economic stagnation and high unemployment would have on Europe’s politics. The results [..]

Technical Analysis – GBPUSD attempts rebound, ST outlook neutral

Posted on May 26, 2014 at 9:03 am GMT

GBPUSD tested its short-term downtrend line (from May 6) and failed to break above it. Consequently prices declined and re-entered the Ichimoku cloud. Technical indicators on the 4-hour chart are mixed. MACD is above zero but pointing down. The RSI turned positive and is attempting to rise back above 50.The tenkan-sen and kijun-sen are negatively aligned. This provides a neutral outlook for the short-term. Meanwhile prices have rebounded off support at 1.6810 to test the tenkan-sen line. A move higher [..]

Technical Analysis – EURUSD bearish bias reinforced

Posted on May 26, 2014 at 7:02 am GMT

EURUSD extended lower to 1.3612 to reinforce its bearish bias after breaking below the 200-day moving average. The pair remains below the Ichimoku cloud since May 14, moving further way from the May 8 multi-year high at 1.3992. RSI has declined further, breaking below 30, adding to further potential downside. Also the tenkan-sen and kijun sen have become increasingly negatively aligned, reinforcing the overall bearish structure. The key psychological level at 1.3600 is important to watch as a break below [..]

Asian Session – Euro under pressure ahead of thin trading in US and the UK

Posted on May 26, 2014 at 6:26 am GMT

Political considerations and election results dominated the news agenda on Monday morning, as the results from the European Parliament elections and the Ukrainian Presidential elections came in. The euro made a fresh 3-month low against the dollar at 1.3615 as results from the European election showed Eurosceptic parties and parties of the far right and left gaining. Voters were influenced by poor economic conditions across Europe and chose to show their displeasure of mainstream parties. In Greece for example, the [..]

European Session – Euro extends losses after weak German Ifo Business Climate

Posted on May 23, 2014 at 1:30 pm GMT

The last day of the trading week was calm as investors positioned ahead of a long weekend for some and key risk events on Sunday. Markets in the UK and US will be closed on Monday and parliamentary elections will be held on Sunday both in the Ukraine and in the European Union. The euro extended losses today to reach a fresh three-month low against the after a disappointing German business confidence report added to expectations the European Central Bank [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

News

XM Live Chat