Monday, 23 June 2014

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GBP/USD holds above 1.7000

GBPUSD chart
The GBP/USD is back to square one at the beginning of the american session, after the latest upside attempt was capped by the 1.7050 area.
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EURUSD: Germany losing pace to the periphery

The biggest news on the macro front this morning was the European PMI surveys for June. These timely indicators saw the index inch down further than expected, with the Eurozone composite PMI falling to 52.8 from 53.5. This is the second consecutive...

AUDUSD Surging on Strong Chinese Data, but RBA May Become a Headwind

The AUDUSD is surging forward to start this week after strong data out of Australia’s most important trading partner. The June Chinese HSBC Manufacturing PMI report clawed its way back above the key 50 level in today’s Asian session, showing rising...

Gold Near Two Month High on Iraq and Fed Outcome

Gold futures traded below a two-month high as investors weighed the outlook for U.S. borrowing costs to remain low and tension in Iraq against signs of weaker physical demand. Platinum and palladium...

EURGBP− Looks To Extend Recovery

With EURGBP stopping its weakness and turning higher the past week, further recovery is envisaged in the new week. On the upside, resistance lies at the 0.8000 level followed by the 0.8050...

USD may be weak, but EUR is not far behind

Pair Average levels
1 Week 1 Month 1 Quarter
EURUSD 1.3589 1.3637 1.3438
GBPUSD 1.7054 1.6927 1.6906
USDJPY 101.95 102.93 104.19
USDCHF 0.8968 0.8999 0.9136
AUDUSD 0.9370 0.9241 0.9179
Pair Average levels
1 Week 1 Month 1 Quarter
USDCAD 1.0805 1.0894 1.0975
NZDUSD 0.8746 0.8597 0.8562
GBPJPY 173.99 174.35 176.77
EURJPY 139.07 138.61 139.77
EURGBP 0.7973 0.7894 0.7864
EUR/USD getting ready to roll: Euro lack of conviction to advance has left the pair exposed to the downside, seen mostly falling in term.
GBP/USD clear division of sentiment: while traders are looking for higher highs, banks put their bets on the downside for Pound.
USD/JPY limited slides before a leg up: bearish for next week, the pair is not seen losing 100.00 but recovering to new highs afterwards.
AUD/USD bears advance: a large majority of polled experts believe the AUD has not much room to the upside, seen approaching back to 0.9100.
EUR/JPY less expectations on advances: shy bullish interest surges in EUR/JPY amid with little hopes of recovering the critical 140.00 level during next month.

Analysis

Trader’s eye on majors, short term

Valeria BednarikValeria Bednarik – Majors in range, stocks down: some risk aversion may favor safe havens in the short term

EUR/USD: quiet range persists by FXStreet
GBPUSD - Weak demand in the background, buying looks risky by ForexTrading.TV
USD/JPY: Yen Slightly Higher on BOJ Comments by MarketPulse
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Ajay Pankhania
Australia is the 3rd largest exporter when it comes to commodities. Thus a good strategy to achieve economic growth is to have commodity led growth.
Dzhafer Medzhakhed
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Economic Calendar

GMT     Event Vol. Actual Consensus Previous
Monday, Jun 23
13:45 US USD Markit Manufacturing PMI 2 57.5 56.5 56.4
14:00 US USD Existing Home Sales (MoM) 2 4.89M 4.73M 4.66M Revised from 4.65M
14:00 US USD Existing Home Sales Change (MoM) 1 4.9% 2.2% 1.5% Revised from 1.3%
15:30 US USD 3-Month Bill Auction 1

0.035%
15:30 US USD 6-Month Bill Auction 1

0.07%
20:30 NZ NZD RBNZ Deputy Governor Bascand Speech 1



Tuesday, Jun 24
02:00 CN CNY CB Leading Economic Index 1

0.9
06:00 CH CHF Trade Balance 1
2,707M 2,425M
06:00 CH CHF Exports (MoM) 1

17,077M
06:00 CH CHF Imports (MoM) 1

14,652M
08:00 DE EUR IFO - Current Assessment 2
115.0 114.8
08:00 DE EUR IFO - Business Climate 2
110.2 110.4
08:00 DE EUR IFO - Expectations 2
105.9 106.2
08:00 IT EUR Wage Inflation (MoM) 1

0%
08:00 IT EUR Wage Inflation (YoY) 1

1.2%

Official Interest Rates

US: 0.25% EMU: 0.15% UK: 0.5% JP: 0.1% CH: 0% CA: 1% AU: 2.5% NZ: 3.25%

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Current Trading Positions

GBPUSD Order Entry SL TP
Admiral Markets BUY LMT @1.6950 - 1.7000
Pattern Trapper BUY LI >1.7007 - -
AUDUSD Order Entry SL TP
RoboForex LONG LMT @0.9369 0.9390 0.9399
USDCHF Order Entry SL TP
Pattern Trapper SELL LI <0.8952 - -

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Most Traded Pairs


Pair Price Hour Day Week Month
AUDUSD 0.9418 0.00 0.37 0.15 2.03
EURUSD 1.3592 -0.01 -0.02 0.14 -0.28
GBPUSD 1.7008 -0.01 -0.08 0.15 1.05
USDJPY 101.90 -0.01 -0.19 0.05 -0.08
USDCHF 0.8947 -0.01 -0.06 -0.28 -0.12

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EdMatts profile
Ivan FX Oil price should give up most of its recent gains in the weeks ahead - Commerzbank http://t.co/SoXhK2oClZ #Oil... http://t.co/SOrQqRu5L4
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Greg Michalowski GBPUSD looking back toward the 1.7000 level where 100 hour MA is found too. Range is narrow but support holding. pic.twitter.com/oz9MCQZTjP
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Dale Pinkert $USDJPY #fxroom eurusd usdjpy audusd gold spx crude oil analysis http://t.co/J4q11IIUeA Dale gets the week Rolling #fxroom
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Ashraf Laidi My interview w/ outside the stadium after Algeria won 4-2 over S.Korea http://t.co/o2JYZKR0hK @ElheddafJournal
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Dale Pinkert RT @The_Oxford_Club: After a couple of technical glitches, Alex Green is now live w/ @ForexStopHunter @FXStreetNews. Click to listen: http:http://t.co/Iy427Bjm7s
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Matt Weller #EURGBP is still stubbornly consolidating near 1.5-year lows in the upper-.7900s - the 78.6% Fibo of the July '12 to Feb '13 rally is .7980
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Order Flow News Equities still a bit suppressed, but have come back up from their worst levels; markets as a whole getting dull at this point
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Rob Booker Traders Podcast #265 - Murphy's Law Of Trading: http://t.co/Z2X9bDGTKR via @YouTube
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zerohedge Goldman raises its Q2 GDP tracking estimate by 0.1% to 3.8% on Markit Mfg Survey
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Gus Farrow GBP/USD holds above 1.7000 http://t.co/6FT6MwuLfb $GBPUSD #Forex http://t.co/lcAWFzmUeI
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European Commission RT @eu_eeas: The Council agrees on CSDP mission for security sector reform in #Ukraine http://t.co/SSg8qgq2tu #FAC 9/9
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zerohedge Fed injects $1.874 billion into the market
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Gus Farrow Polish MPs ridicule Cameron's 'stupid propaganda' aimed at Eurosceptics http://t.co/PDeBA42bff $EURUSD Guardian
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Order Flow News Via @CNBC Fed gives 'green light' for Dow 18K: Siegel http://t.co/Q3hEHlp8eT
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