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  • #181
  • Jul 21, 2016 5:16am Jul 21, 2016 5:16am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Thursday, July 21st

GBP/USD

Current price: 1.3245 (0.3%)
Session range: Open 1.3208; High 1.3276; Low 1.3203
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.3003 R. 1.3329
Main drivers: UK Retail Sales, Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: Broad based US dollars’ weakness coupled with upbeat data from UK’s labor market has allowed pound bulls to take control over the pair and break through the level of 1.3200. Today the pair is consolidating part of its gains hovering in the region 1.3020-40 awaiting for fresh impute from the upcoming UK retail sales data for further direction. Furthermore, EU Interest Rate Decision also will be closely watched, as it is the main risk event of this week.


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  • #182
  • Jul 22, 2016 5:18am Jul 22, 2016 5:18am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Friday, July 22nd

GBP/USD

Current price: 1.3268 (0.3%)
Session range: Open 1.3233 High 1.3289 Low 1.3210
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3102 R. 1.3342
Main drivers: Prelim. UK Manufacturing PMI, Prelim. UK Services PMI, Prelim. US Manufacturing PMI
Overview: The pound is trading with slightly better mood vs. dollar this morning keeping its spot above the level of 1.32 on the back of broadly based dollars’ weakness. However, poor UK’s Retail Sales are still limiting the pairs’ upside momentum.

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  • #183
  • Jul 25, 2016 4:42am Jul 25, 2016 4:42am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Monday, July 25th

GBP/USD

Current price: 1.3146 (0.0%)
Session range: Open 1.3143 High 1.3150 Low 1.3110
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2947 R.1.3369
Main drivers: CBI Industrial Trends Orders in UK
Overview: The pair is recovering from two-cent dip after Fridays pullback to 1.3080 low triggered by last week poor figure from UKs Services PMI coupled with strengthened dollar across the board. However, dollar seems to be weaker today as investors are performing corrective actions allowing pound to take advantage at the beginning of this week.


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  • #184
  • Jul 26, 2016 5:23am Jul 26, 2016 5:23am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Tuesday, July 26th

EUR/USD

Current price: 1.1002 (0.01%)
Session range: Open 1.0995 High 1.1021 Low 1.0982
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.0934 R.1.1028
Main drivers: US CB Consumer Confidence, US New Home Sales
Overview: EUR/USD is trading higher today as dollar’s weakness across the board has opened the doors to shared currency’s bulls to take key resistance level of 1.1000. However, the pair will remain under pressure today as euro continues to be weighted by sharp fall in cross with yen.

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  • #185
  • Jul 27, 2016 4:56am Jul 27, 2016 4:56am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Wednesday, July 27th

USD/JPY

Current price: 105.66 (1.0%)
Session range: Open 104.65 High 106.56 Low 104.59
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 102.92 R. 106.72
Main drivers: US Pending Home Sales, US Core Durable Goods Orders, FOMC Statement, Fed Interest Rate Decision
Overview: USD/JPY is experiencing high volatility this morning after Prime Minister of Japan S.Abe has confirmed the size of the stimulus package at 28 trillion yen. However, the final decision of the size of the stimulus package will be taken next week. Most likely, today the pair will stay in condition of high volatility amid ongoing headlines from Japanese market.

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  • #186
  • Jul 28, 2016 5:11am Jul 28, 2016 5:11am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Thursday, July 28th

USD/JPY

Current price: 104.56 (-0.8%)
Session range: Open 105.39 High 105.45 Low 104.48
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 103.59 R. 107.43
Main drivers: US Initial Jobless Claims
Overview: The pair came over significant selling pressure yesterday after FOMC statement, where Fed members provided more dovish comments sending the pair to this day lows near 105 level. Moreover, fresh risk aversion wave additionally has pressured the yen this morning. In absence of significant catalysts, traders will closely watch for developments around latest Japanese stimulus talks.


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  • #187
  • Jul 29, 2016 6:07am Jul 29, 2016 6:07am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Friday, July 29th

USD/JPY

Current price: 103.61 (-1.6%)
Session range: Open 105.28 High 105.65 Low 102.70
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 102.81, R. 105.68
Main drivers: Prelim. US GDP
Overview: Today yen is experiencing massive volatility showing more than 250 points movement range on the back of BoJ Monetary Policy Statement held in Asia. The pair spiked the level of 105 with highest point of 105.65 and then dipped for almost 300 pips below 103.00 spot despite BOJ’s latest disappointing decision to increase ETF purchases. Moreover, BOJ held the interest rates unchanged at -0.1% against estimated -0.15% adding fuel to the fire this morning. Today the pair will keep its high volatility mode following the latest developments surrounding Japanese economic.


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  • #188
  • Aug 8, 2016 5:06am Aug 8, 2016 5:06am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Monday, August 8th

GBP/USD

Current price: 1.3055 (-0.1%)
Session range: Open 1.3080 High 1.3097 Low 1.3045
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.3047 R. 1.3096
Main drivers: None
Overview: Pound is regaining part of its positions from Friday’s low last seen four weeks ago after unexpectedly strong US NFP. However, the GBP/USD pair is still experiencing strong bearish pressure following the recent BoE’s policy easing measures of lowering its interest rate to 0.25%.


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  • #189
  • Aug 9, 2016 5:25am Aug 9, 2016 5:25am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Tuesday, August 9th

GBP/USD

Current price: 1.2981 (-0.5%)
Session range: Open 1.3040 High 1.3050 Low 1.2967
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2945 R. 1.3122
Main drivers: UK Manufacturing Production, Prelim. US Nonfarm Productivity
Overview: Currently is attempting to recover part of its losses after downside rally to fresh monthly lows performed this morning. The pair has dipped today to the level of 1.2973 triggered by suggestion of BoE’s member of further rate cut closer to zero.


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  • #190
  • Aug 10, 2016 5:34am Aug 10, 2016 5:34am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Wednesday, August 10th

USD/CAD

Current price: 1.3070 (-0.4%)
Session range: Open 1.3119 High 1.3126 Low 1.3051
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.3057 R. 1.3219
Main drivers: OPEC Monthly Report, JOLTs Job Openings, US Crude Oil Inventories
Overview: The pair is expanding its lows for the third day majorly driven by oil price recovery that supports commodity linked Canadian dollar. Today market participants will closely watch for OPEC Monthly Report expecting to find there any cues of further oil output freeze. However, the main event for the pair remains US Crude Oil Inventories.


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  • #191
  • Aug 11, 2016 5:34am Aug 11, 2016 5:34am

Daily economic digest from Forex.ee

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Thursday, August 11th

NZD/USD

Current price: 0.7242 (0.6%)
Session range: Open 0.7203 High 0.7342 Low 0.7198
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 0.7103 R. 0.7315
Main drivers: USInitial Jobless Claims, US Export/Import Price Indices
Overview: The pair has performed sharp upsurge this morning reacting on RBNZ decision of “hawkish” rate cut by 25 bps leading the pair to the highest point since May of 2015 marked at 0.7337 level. As rate cut was pretty much expected market has shown more positive reaction as RBNZ decision missed market’s cut expectations of 50 bps. However, after sharp rally of 250 points the pair has taken south direction on the back of dovish comments provided by RBNZ members about low inflation leaving doors opened for further policy easing.



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  • #192
  • Aug 12, 2016 5:19am Aug 12, 2016 5:19am

Daily economic digest from Forex.ee

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Friday, August 12th

GBP/USD

Current price: 1,2954 (0.0%)
Session range: Open 1.2956 High 1.2979 Low 1.2944
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2880 R. 1.3064
Main drivers: US PPI, US Retail Sales
Overview: Pound has recovered smile against its American counterpart this morning lifting the pair to daily maximums near the level of 1.2980 as renewed broad based risk appetite is hitting up demand for risky assets such as GBP. However, the possibility of further BoE’s monetary policy easing continues weighing the pair.


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  • #193
  • Aug 15, 2016 4:57am Aug 15, 2016 4:57am

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Monday, August 15th

EUR/USD

Current price: 1.1167 (0.0%)
Session range: Open 1.1169 High 1.1177 Low 1.1153
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1081 R. 1.1261
Main drivers: NY Empire State Manufacturing Index
Overview: After relatively volatile session witnessed last Friday investors have decided to take a breather leaving the pair in deadly flat 10 pips narrow range at the beginning of this week. Looking ahead nothing important is scheduled in data calendar for the pair leaving it to the mercy of global market’s sentiment.



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  • #194
  • Aug 16, 2016 5:11am Aug 16, 2016 5:11am

Daily economic digest from Forex.ee

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Tuesday, August 16th

EUR/USD

Current price: 1.1241 (0.5%)
Session range: Open 1.1183 High 1.1250 Low 1.1177
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.1129 R. 1.1264
Main drivers: German ZEW Economic Sentiment, EU ZEW Economic Sentiment, US Building Permits, US Core CPI
Overview: Today the major is refreshing its two-month highs last seen since Brexit vote. The pair is accelerating its upsurge momentum this morning breaking through the level of 1.1200 in early Europe ahead of ZEW Economic Sentiment Surveys from German and Euroland. The expectations that German ZEW Economic Sentiment will recover to 1.8 after sharp drop of 6.8 are forcing the Euro to move higher against US currency reaching the level of 1.1250.


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  • #195
  • Aug 17, 2016 5:31am Aug 17, 2016 5:31am

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Wednesday, August 17th

EUR/USD

Current price: 1.1264 (0.1%)
Session range: Open 1.1279 High 1.1291 Low 1.1255
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.1114 R. 1.1404
Main drivers: FOMC Meeting Minutes
Overview: Today euro is consolidating part of its massive gains after extreme rally witnessed day before. Currently the pair is hovering in the region of 1.1260 retreating from two-month highs posted at 1.1323 as traders are performing profit-taking actions lately breathing in fresh positive tone to US currency.


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  • #196
  • Aug 18, 2016 5:30am Aug 18, 2016 5:30am

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Thursday, August 18th

GBP/USD

Current price: 1.3118 (0.6%)
Session range: Open 1.3042 High 1.3132 Low 1.3035
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2920 R. 1.3204
Main drivers: UK Retail Sales, Philadelphia Fed Manufacturing Index
Overview: The sterling has failed to keep its positions against US currency after dovish FOMC Meeting Minutes as fresh risk-aversion sentiments are limiting pair’s upward momentum forcing the pair to step down from its daily highs. However, in light of broad based US dollar’s weakness the pair will keep its bullish tone during this day.


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  • #197
  • Aug 23, 2016 5:16am Aug 23, 2016 5:16am

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Tuesday, August 23rd

EUR/USD

Current price: 1.1339 (0.2%)
Session range: Open 1.1320 High 1.1356 Low 1.1312
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.1247 R. 1.1367
Main drivers: US New Home Sales
Overview: Today the pair continues its bullish momentum witnessed since the beginning of this week bouncing off yesterday’s low marked at 1.1271 spot as ahead of upcoming Fed Chair J.Yellen’s speech that brings cautious sentiment across the market. Moreover, today the pair has received additional upside momentum from positive preliminary German Manufacturing PMI sending euro to the mid-level of 1.13.

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  • #198
  • Aug 24, 2016 4:52am Aug 24, 2016 4:52am

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Wednesday, August 24th

EUR/USD

Current price: 1.1295 (0.1%)
Session range: Open 1.1305 High 1.1313 Low 1.1287
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.1268 R. 1.1374
Main drivers: US Existing Home Sales
Overview: The pair continues its downside move for the second session in a row ignoring neutral German quarter GDP data that has reached estimations at 0.4%. The single currency is losing the pace against its American counterpart on the back of renewed bid tone around the greenback that is pushing the pair higher this Wednesday. Moreover, expectations of the upcoming Fed Chair J.Yellen’s speech that most probably will shed the light on further Fed rate-hike are also playing into the hands of dollar lately.


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  • #199
  • Aug 25, 2016 4:51am Aug 25, 2016 4:51am

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Thursday, August 25th

EUR/USD

Current price: 1.1269 (0.0%)
Session range: Open 1.1264 High 1.1280 Low 1.1258
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.1207 R. 1.1339
Main drivers: US Core Durable Goods Orders, US Initial Jobless Claims
Overview: Currently the pair is retreating from its daily highs marked at the level of 1.1280 after poor data of German Ifo Business Climate Index released in early Europe. However, the euro is still keeping its positive mood against its American counterpart facing support near the level of 1.1270. Furthermore, today traders will stay cautious limiting pair’s rally in front of main event of this week Federal Reserve Chairwoman Janet Yellen’s speech at the summer economic Symposium, held in Jackson Hole.

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  • #200
  • Aug 26, 2016 4:45am Aug 26, 2016 4:45am

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Friday, August 26th

EUR/USD

Current price: 1.1287 (0.0%)
Session range: Open 1.1285 High 1.1310 Low 1.1278
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.1242 R. 1.1318
Main drivers: US prelim. GDP, Fed Chair J.Yellen Speech
Overview: Today the pair is showing very low volatility as markets are frozen in front of main risky event of this week - J.Yellen’s speech. Currently market participants are refraining from opening new positions as J.Yellen’s speech at the economic Symposium, held in Jackson Hole expectedly will provide massive rally today in NY session. Markets are expecting that Fed Chairwoman will shed the light on broadly exciting question of this year - Fed rate-hike. Amid data light calendar from Euroland and lack of momentum the euro/dollar pair will get some correlative sentiment from crosses with pound as Britain will announce preliminary GDP report today.


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