GAINSY Hottest Forecasts

Strong Equities Trigger Mini Short-Squeeze In The Euro
(GAINSY Fundamental Analysis)

Intraday, EUR/USD trading was still confined the barriers of the 1.33 big figure. So, the sideways consolidation pattern since the end of last bank week remained in place. European equities performed well, but initially this didn't help the euro. The ZEW economic sentiment came again out better than expected. EUR/USD spiked to 1.3373, but the 1.3379/93 resistance stayed untouched. Even more, as the topside was blocked.EUR/USD decreased soon to the lower end of the range and filled bids in the 1.3330 area around noon. At the same time, the 1.3307 correction low was left safe, too. In this down-move there was no link with equity trading. Later in the US session though, the strong performance of equities finally lifted the EUR/USD cross rate to the high 1.33 area. The pair closed the session at 1.3388, compared to 1.3351 on Monday evening. It was an uneventful, order-driven trading session with at the end, a whim of risk-on/risk-off, suggesting that this paradigm still has a (moderate) roll to play ...

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EUR Recovers, NZD Under Pressure
(GAINSY Fundamental Analysis)

The Asian stocks extended gains for the third consecutive day. The Nikkei 225 index added 0.84%, Hang Seng , Shanghai's Composite and Taiex advanced 0.42%, 0.54 and 0.86% respectively. Korean Kospi index surged 1.95% as the external short-term debt decreased by USD5.9B in the fourth quarter.

In Japan, the trade deficit reached the record high, JPY-1,629.4B, (vs. JPY-1,379B exp. & JPY-641.5B previously), while the all industry activity index turned positive in January. BoJ’s Morimoto stated that the economy will remain in sideways before recovery, the powerful easing will continue, and the recent FX moves should boost the exports and the corporate profits. ...

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European Stocks On Weak Earnings Ahead Of BoE, Fed Minutes
(GAINSY Fundamental Analysis)

European shares opened mixed to lower on Wednesday session as weak corporate earnings wighned on sentiment while cautioun dominated markets ahead of minutes from the Bank of England and the United States Federal Reserve.

- Benchmark STOXX Europe 600 decreased 0.09% to 289.74
- STOXX 50 fell 0.05% to 2661.01 ...

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King, Fisher And Miles Call For Additional Stimulus, U.K. Jobless Claims Fall More Than forecast
(GAINSY Fundamental Analysis)

Unemployment data from the U.K. showed improvement to ease some worries the British economy would have a setback in the last quarter of 2012, while BOE minutes for Jan. showed a split on QE.

Jobless claims showed a drop of 12,500 in Jan. to 1.54 million, the lowest since June 2011, compared to estimates of having a drop of 5,500 and the revised previous of 15,800, which was 12,100 initially. Claimant count rate steadied at 4.7%.

On the other hand, ILO unemployment rate for the three months ended Dec. rose to 7.8%, recording a drop of 14,000 to 2.5 million, above both prior and expected readings of 7.7%, whereas employment edged up 154,000 to 29.7 million, marking the biggest rise since mid 2012.

The budget office said previously at the end of last year it expects unemployment to rise to 8.3% by the end of this year. ...

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Daily Statement: Sterling Stays Soft ahead of BoE Minutes, Job Data
(GAINSY Technical Analysis)

Sterling was hammered to seven month low against dollar overnight while EUR/GBP is back pressing 0.87 on rumors that S&P is preparing to downgrade UK's sovereign rating. While the rumors turned out to be ungrounded, there was little buying interest in the pound to help it recover ahead of the BoE minutes to be released today. Sterling remained the weakest European majors since the start of the year on concern of triple dip recession as well as the risk of failure to meet deficit target. BoE MPC member Weale also mentioned the need for further easing to push the pound lower. Meanwhile, there are uncertainties on the impact the current BoC governor Carney would have on BoE when he takes up the head job later this year. The BoE minutes could trigger some deeper selloff in the pound, in particular against Euro, should it deliver a dovish message. At the February meeting, the BoE kept the Bank rate at 0.5% and the size of the asset purchase program at 375B pound. Surprisingly, the central bank delivered a long post-meeting statement, stressing that the MPC stands "ready to provide additional monetary stimulus if warranted". Another focus will be the FOMC minutes and focus will be on whether policy makers have discussed on slowing the pace of the open-ended QE3 asset purchases. ...

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Forex Signal: USD/JPY – Buy at 92.80
(GAINSY Ichimoku Analysis)

USD/JPY – 93.34

Most recent candlesticks pattern : N/A

Trend : Up

Tenkan-Sen level : 93.48
Kijun-Sen level : 93.48
Ichimoku cloud top : 93.82
Ichimoku cloud bottom : 93.23

Original strategy :
Buy at 93.00, Target: 94.20, Stop: 92.65

Target: -
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Forex Signal: EUR/USD – Sell at 1.3515
(GAINSY Ichimoku Analysis)

EUR/USD – 1.3425

Most recent candlesticks pattern : Shooting star

Trend : Near term down

Tenkan-Sen level :1.3409
Kijun-Sen level :1.3382
Ichimoku cloud top :1.3351
Ichimoku cloud bottom :1.3349

Original strategy :
Sell at 1.3450, Target: 1.3310, Stop: 1.3485

Target: -
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Forex Signal: GBP/USD – Turn long at 1.5380
(GAINSY Ichimoku Analysis)

GBP/USD - 1.5439

Most recent candlesticks pattern : N/A

Trend : Down

Tenkan-Sen level : 1.5436
Kijun-Sen level :1.5459
Ichimoku cloud top :1.5494
Ichimoku cloud bottom :1.5472

Original strategy :
Sell at 1.5600, Target: 1.5470, Stop: 1.5635

Target: -
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Forex Signal: USD/CHF – Turn short at 0.9220
(GAINSY Ichimoku Analysis)

USD/CHF - 0.9190

Most recent candlesticks pattern : N/A

Trend : Near term up

Tenkan-Sen level :0.9207
Kijun-Sen level :0.9217
Ichimoku cloud top :0.9234
Ichimoku cloud bottom :0.9232

Original strategy :
Bought at 0.9175, stopped profit at 0.9200

Long at 0.9175
Target: -
0.9200

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BOE Minutes Showed That Members Voted 6-3 To Leave Asset Purchases At 375B GBP
(GAINSY Technical Analysis)

The BOE minutes unveiled that Governor Mervyn King, Paul Fisher and David Miles favored adding more stimuli to boost the economy but their proposal was rejected by 6 other members. The pound weakened further while UK stocks and gilts recoiled after the report amid expectations of more easing measures later in the year. Meanwhile, the central bank indicated the possibility of using measures other than asset purchases to boost the fragile economy in the future. ...

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Forex Signal Update: USD/JPY – Buy at 92.80
(GAINSY Ichimoku Analysis)

USD/JPY – 93.34

Original strategy :
Buy at 92.80, Target: 93.90, Stop: 92.45

Target: -
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Forex Signal Update: USD/CHF – Turn short at 0.9230
(GAINSY Ichimoku Analysis)

USD/CHF - 0.9204

Original strategy :
Sell at 0.9220, Target: 0.9120, Stop: 0.9255

Target: -
New strategy : ... Are you interested? Follow & Read GAINSY Forex Broker Online

Can GBP Make Multi-Year Lows?
(GAINSY Fundamental Analysis)

The pound has been the second worst performing currency in the G10 since the start of this year; the speculative community is now net short sterling, for the first time since September 2012. In the short term we could see some volatility with the release of the BOE minutes later this morning along with labour market data, but in the long-term the odds seem to be stacking up for GBP. We analyse a few of the sterling negative views that are circling around the FX market right now: ...

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NZD And GBP Collapse On Dovish Policy Forecast
(GAINSY Fundamental Analysis)

The eyes shifted on New Zealand overnight, amid the RBNZ Governor Wheeler stated that the NZD is overvalued and he is prepared to damp the currency. Kiwi wrote-off one-bank week gains, while the NZ equities retreated.

Over the BoE dovishness, GBP saw heavy sell-off this morning. GBPUSD wrote-off 120 pips in a single move, despite the improving jobless claims figures in January.In Europe, the strong German ZEW and ECB Asmussen's supportive comments gave boost to EUR. EURUSD rallied to 1.3434 in Asia. However, the further news stream are not bright out of Europe.

Today the key event will be the FOMC minutes, which could give fresh direction to markets. A dovish tone should pull the USD down, yet a few hawkish comments should raise curiosity on the slowdown / end of the USD85bn worth monthly asset purchases. ...

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Same Game But EURO Goals Have Shifted
(GAINSY Fundamental Analysis)

Forex moves have been rather uninspiring, unless you are Cable of course, as investors wait to see if they are served up any clues on how many Fed members are in favor of ending QE early. The prospect of a QE exit is likely to limit further dollar losses. So far this morning, investors are clinging to yesterday's strong improvements in the German ZEW and likely strength in the upcoming IFO and PMI's to justify holding the single currency at the moment. Perhaps one of the stronger arguments supporting the 17-member currency would be the reallocation of funds by Japanese investors. Just like any global investor, Japanese citizens too are trying to maximize their returns. ...

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Intraday Statement: Sterling Plummeted after Dovish BoE Minutes, USD Strengthened
(GAINSY Technical Analysis)

Sterling decreased sharply in today as BoE minutes revealed that three members voted for expanding the asset purchase program during last MPC meeting even though the proposal was eventually voted down with 6-3 vote. Unemployment rate in UK also edged up to 7.8% in December even though claimant counts decreased more than expected by -12.5k. GBP/USD breached 1.53 level to as low as 1.5281 and is more than 1000 pips below January's high of 1.6380. Next focus in 1.5268 support and decisive fracture there should push GBP/USD through 1.5 psychological level. EUR/GBP also broke through 0.8716 resistance to resume recent up trend from 0.8775 and is set to take on 0.88 level soon. Elsewhere, dollar is getting some strength against other major currencies in early US session while yen is stuck in range against dollar and euro. Data from US saw building permits beat expectation and rose to 925k in January while housing starts missed and decreased to 890k. PPI rose slightly to 1.4% yoy in January while PPI core decreased to 1.8% yoy. Next focus will be FOMC minutes, on whether policy makers have discussed on slowing the pace of the open-ended QE3 asset purchases. ...

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EUR/GBP Intraday Forecast
(GAINSY Technical Analysis)

EUR/GBP rises further to as high as 0.8764 and the fracture of 0.8716 confirmed resumption of up trend form 0.7755. Intraday bias remains on the upside for 50% retracement of 0.9799 to 0.7755 at 0.8777. Sustained fracture will pave the way for 0.9 psychological level. On the downside, below 0.8672 minor support will turn bias neutral and bring consolidations. But retreat should be contained well above 0.8446 support and bring another rally. ...

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Elliott Wave Forecast: USD/CAD – Buy at 1.0100
(GAINSY Elliott Wave Analysis)

USD/CAD – 1.0166

Recent wave: Only wave v of c has ended at 0.9407 and A-B-C correction has possibly ended at 1.0658

Trend: Near term up

Original strategy :
Buy at 1.0010, Target: 1.0190, Stop: 0.9950

Target: -
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Forex Signal Update: USD/CHF – Hold short entered at 0.9230
(GAINSY Ichimoku Analysis)

USD/CHF - 0.9231

Original strategy :
Sold at 0.9230, Target: 0.9120, Stop: 0.9265

Short at 0.9230
Target: - 0.9120
0.9265

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Forex Signal Wrap-up: USD/JPY – Buy at 92.80
(GAINSY Ichimoku Analysis)

USD/JPY – 93.70

Most recent candlesticks pattern : N/A

Trend : Up

Tenkan-Sen level : 93.48
Kijun-Sen level : 93.48
Ichimoku cloud top : 93.62
Ichimoku cloud bottom : 93.40

Original strategy :
Buy at 92.80, Target: 93.90, Stop: 92.45

Target: -
New strategy : ... Are you interested? Follow & Read GAINSY Forex Broker Online