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  • #221
  • Sep 26, 2016 5:40am Sep 26, 2016 5:40am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, September 26th

EUR/USD

Current price: 1.1239 (0.1%)
Session range: Open 1.1228 High 1.1244 Low 1.1221
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1171 R. 1.1265
Main drivers: US New Home Sales, Speech of the ECB President M.Draghi.
Overview: Today the pair has managed to regain its bullish momentum in early Europe. Amid lack of momentum the euro has muted its bullish momentum during Asia based on dovish comments from FOMC members after its meeting that took place last week. However, positive data from Germany has recommenced pair’s growth pushing it through the level of 1.1200. Later President of ECB M.Draghi will give a speech and US economy will release data from housing market that will determine further pair’s direction.


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  • #222
  • Sep 27, 2016 5:29am Sep 27, 2016 5:29am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, September 27th

EUR/USD

Current price: 1.1244 (-0.1%)
Session range: Open 1.1254 High 1.1260 Low 1.1235
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1191 R. 1.1309
Main drivers: US prelim. Services PMI, US CB Consumer Confidence
Overview: Seems that the euro has lost ground against its American peer after four session of winning streak. Today the pair came under selling pressure in response to H.Clinton's win at the first US presidential debate against her Republican opponent, D.Trump. Additionally, pair’s bears were supported this morning by renewed risk-on sentiments across the financial markets. On the data front the Eurozone today will remain silent with only secondary releases due today while US fundamentals will take center stage later in NA session.

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  • #223
  • Sep 28, 2016 6:40am Sep 28, 2016 6:40am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, September 28th

EUR/USD

Current price: 1.1219 (0.0%)
Session range: Open 1.1215 High 1.1224 Low 1.1181
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1153 R. 1.1289
Main drivers: US Durable Goods Orders, Fed Chair J.Yellen Testimony, Speech of the ECB President M.Draghi
Overview: Today the euro is losing grip for the second session in a row as the US dollar has regained its bid tone forcing the pair to refresh its daily lows below the level of 1.1200. The demand for the greenback is majorly based on the outcome of the first US presidential debates seen last Monday. Later today the ECB Presidents M.Draghi speech in Berlin will take center stage while US Durable Goods Orders, Fed Chair J.Yellens testimony and set of Fed members speeches will be closely watched for setting up pairs short term direction.


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  • #224
  • Sep 29, 2016 5:32am Sep 29, 2016 5:32am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Thursday, September 29th

USD/CAD

Current price: 1.3086 (0.1%)
Session range: Open 1.3079 High 1.3104 Low 1.3048
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.2946 R. 1.3334
Main drivers: US GDP, US Pending Home Sales, Fed Chair J.Yellens Speech
Overview: Seems that CAD bulls took a breather after massive downside rally witnessed yesterday. Currently Canadian dollar is trading almost unchanged vs. its American neighbor consolidating its two-cent down surge since yesterdays highs. Yesterday OPEC members agreed to limit oil production levels that should be executed at its next meeting scheduled for November. This announcement brought massive wave of buying interest to resource-linked Loonie. Looking ahead, the pair will stay in mercy of oil price dynamics until the NA session where US will release its GDP report followed by several Fed speaks.



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  • #225
  • Sep 30, 2016 5:26am Sep 30, 2016 5:26am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, September 30th

EUR/USD

Current price: 1.1186 (-0.3%)
Session range: Open 1.1221 High 1.1227 Low 1.1168
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1169 R. 1.1275
Main drivers: EU prelim. CPI, US Personal Spending
Overview: After modestly flat Asian session the pair has faced strong rejection dropping below 1.1200 support as the latest German data had shown slightly worse results as it was expected. Moreover, uncertainty around Deutsche Bank has gripped European market decreasing risk associated sentiments thereby boosting the euro bears. Focus now shifts to the preliminary EU CPI data, that expectedly will provide the pair with fresh impetus.

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  • #226
  • Oct 3, 2016 5:09am Oct 3, 2016 5:09am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, October 3rd

GBP/USD

Current price: 1.2858 (-0.9%)
Session range: Open 1.2919 High 1.2947 Low 1.2845
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.2847 R. 1.3064
Main drivers: UK Manufacturing PMI, US ISM Manufacturing PMI
Overview: Currently the pair remains just a few pips away from post-Brexit lows leaded generally by Brexit Article 50 impact that approaches the end of UK’s membership in EU. The UK’s PM T.May has stated that control over the migration is more important than “hard Brexit” times that are coming ahead. Today Brexit uncertainty will cause strong influence on the GBP while UK and US PMI’s also will be watched for a short-term impact.

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  • #227
  • Oct 4, 2016 5:38am Oct 4, 2016 5:38am

Daily economic digest from Forex.ee

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Tuesday, October 4th

GBP/USD

Current price: 1.2773 (-0.5%)
Session range: Open 1.2842 High 1.2861 Low 1.2756
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2737 R. 1.2997
Main drivers: UK Construction PMI, FOMC Member J.Lacker’s Speech.
Overview: The pound is experiencing strong selling pressure since the start of this week following the latest comments of PM of UK T.May noting that Article 50 could be invoked by the end of the March, 2017. Currently the pair is losing almost two cents since this Monday continuing its downside rally and breaking post-Brexit lows under the crucial support level of 1.2800. Moreover, stronger positions seen behind the dollar are additionally boosting pound bears as market is still digesting yesterday’s strong US manufacturing PMI figures. Traders now await for UK Construction PMI which could bring some relief to the pair supporting bulls by positive data.

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  • #228
  • Oct 5, 2016 5:33am Oct 5, 2016 5:33am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, October 5th

EUR/USD

Current price: 1.1217 (0.1%)
Session range: Open 1.1204 High 1.1230 Low 1.1199
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1092 R. 1.1294
Main drivers: US ADP Nonfarm Employment Change, US ISM Non-Manufacturing PMI
Overview: Currently the pair is extending its yesterdays rebound performed after Bloomberg agency had stated that ECB could cut off its further monetary policy easing program. Yesterday on the back of Bloombergs announcement the pair has reversed its two-week lows spiking the level of 1.1200. Adding to that, US bulls are out of steam today in wake of American dollars price correction actions. Yesterday, USD index hit a new three-month high triggered by risen probability of this year Fed rate hike.


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  • #229
  • Oct 6, 2016 5:09am Oct 6, 2016 5:09am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Thursday, October 6th

EUR/USD

Current price: 1,1185 (-0,2%)
Session range: Open 1.1205 High 1.1214 Low 1.1184
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1165 R. 1.1253
Main drivers: US Initial Jobless Claims
Overview: Today American dollar trades on a firm note against its rivals majorly supported by risen probability of Fed hawkish interest rate move. Once again the major has broken through the level of 1.1200 as the market is still digesting yesterdays, stronger-than-expected economic data provided by US economy. Only secondary data releases are scheduled in today’s data calendar. Meanwhile, the US NFP report will take center-stage tomorrow.


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  • #230
  • Oct 7, 2016 5:43am Oct 7, 2016 5:43am

Daily economic digest from Forex.ee

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Friday, October 7th

GBP/USD

Current price: 1.2453 (-1.3%)
Session range: Open 1.2615 High 1.2625 Low 1.1991
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.2399 R. 1.2715
Main drivers: UK Manufacturing Production, US Nonfarm Payrolls, US Unemployment Rate
Overview: The pound is consolidating part of its unseen drop of 5 figures. Today in the mid-Asia the GBP/USD pair fell from 1.2610 to its record lows of 1.1991 and there are no direct cues on what caused this collapse. Some analytics believe that it is markets reaction on French President F.Hollande comments regarding Brexit negotiations, some others think that Fat finger or crash in bank liquidity system could cause this type of consequences. But for sure it became possible only after T.May comments of hard Brexit that had triggered major sell-off of the pound. Currently the GBP/USD pair is trading near mid-1.24 level partially recovering its position.

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  • #231
  • Oct 17, 2016 5:42am Oct 17, 2016 5:42am

Daily economic digest from Forex.ee

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Monday, October 17th

GBP/USD

Current price: 1,2160 (-0,2%)
Session range: Open 1.2155 High 1.2198 Low 1.2150
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.2110 R. 1.2296
Main drivers: US Industrial Production
Overview: The GBP/USD cross has opened today with 30 pips gap thereby attracting major part of investors’ attention. The pound continues to wobble near its record low level remaining under strong selling pressure as rumors of “hard Brexit” are still influencing the market. Moreover, the latest comments from French President F.Hollande and German Chancellor A.Merkel are also adding fuel to “hard Brexit” fears. Meanwhile, growing probability of this year Fed rate-hike is accelerating US bulls limiting pound’s chances of immediate recovery.


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  • #232
  • Oct 18, 2016 4:53am Oct 18, 2016 4:53am

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Tuesday, October 18th

GBP/USD

Current price: 1.2246 (0.5%)
Session range: Open 1.2184 High 1.2274 Low 1.2176
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.2106 R. 1.2274
Main drivers: UK CPI, US CPI
Overview: The greenback is losing its bullish momentum across the board as market is still digesting yesterday’s tepid US macroeconomic data allowing the pair to build some recovery during Asia. Moreover, seems that fears of a ‘hard Brexit’ are slowly cooling-off thereby bringing relief to UK’s currency. Today, center stage will take UK consumer price index which expectedly will show that cost of living ticked higher.

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  • #233
  • Oct 19, 2016 6:38am Oct 19, 2016 6:38am

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Wednesday, October 19th

GBP/USD

Current price: 1.2280 (-0.2%)
Session range: Open 1.2296 High 1.2316 Low 1.2256
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Highs
Support and resistance levels: S. 1.2115 R. 1.2415
Main drivers: US Building Permits
Overview: Currently the pair is giving away part of its recovered points failing several attempts to survive above the level of 1.2300. After bottoming the lowest level of this week at 1.2136 spot the pair has gathered pace and refreshed today’s highs in the region of 1.2320 mostly driven by demand for GBP and weaker positions of the USD witnessed since the beginning of this week. However, UK currency remains highly vulnerable to the latest “hard Brexit” talks significantly weighing the pair.


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  • #234
  • Oct 20, 2016 5:49am Oct 20, 2016 5:49am

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Thursday, October 20th

EUR/USD

Current price: 1,0976 (0,0%)
Session range: Open 1.0973 High 1.0981 Low 1.0951
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.0928 R. 1.1026
Main drivers: ECB Interest Rate Decision, Philadelphia Fed Manufacturing Index, ECB Press Conference, US Existing Home Sales, EU Leaders Summit
Overview: Today the US dollar extends its bullish mood following H.Clinton’s win on the third and final presidential election debate. However, growing caution across the market ahead of crucial ECB Interest Rate Decision is limiting pair’s movement range. It is widely expected that ECB wont surprise the market with its decision today but the pair could replicate the tone of the statement that will be digested later across the market.

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  • #235
  • Oct 21, 2016 5:11am Oct 21, 2016 5:11am

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Friday, October 21st

EUR/USD

Current price: 1.0882 (-0.4%)
Session range: Open 1.0929 High 1.0931 Low 1.0879
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0837 R. 1.1085
Main drivers: EU Leaders Summit, FOMC Member D.Tarullo Speech
Overview: The common currency remains well offered against its American counterpart refreshing its 7-month lows below the level of 1.0900 mainly driven by yesterday’s ECB Governor M.Draghi dovish comments. Yesterday on ECB Press Conference Draghi stated that bank did not discuss monetary policy easing program. Moreover, the ECB President has noted that the question about ending of the monetary policy easing program also has not been discussed so bank will keep it stay-and-see mode to determine further direction despite numerous talks regarding this question. In the day ahead, markets will continue to digest the latest developments around ECB while Europe remains deadly quite.


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  • #236
  • Oct 24, 2016 5:30am Oct 24, 2016 5:30am

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Monday, October 24th

EUR/USD

Current price: 1,0892 (0,1%)
Session range: Open 1.0883 High 1.0894 Low 1.0859
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0819 R. 1.0961
Main drivers: FOMC Member W.Dudley’s Speech, FOMC Member J.Bullard’s Speech
Overview: The euro is trimming losses this morning as dollar’s upward rally is losing its pace. Adding to that, upbeat preliminary German Manufacturing PMI report seen in early Europe is also supporting common currency. Next on tap remains Eurozone preliminary PMI’s with FOMC member speeches that will be able to provide the pair with further direction during this Monday.

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  • #237
  • Oct 25, 2016 5:32am Oct 25, 2016 5:32am

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Tuesday, October 25th

EUR/USD

Current price: 1.0872 (-0.1%)
Session range: Open 1.0881 High 1.0887 Low 1.0866
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0840 R. 1.0920
Main drivers: US CB Consumer Confidence, ECB President M.Draghi’s Speech
Overview: Currently the EUR/USD pair remains flat trading in 20 pips narrow range in its comfort zone around 1.0880 spot. Yesterday the pair failed to break through the level of 1.0900 as several Feadspeaks provided market with fresh cues of Fed rate-hike before the end of the year thereby supporting US currency. However, yesterday’s auspicious bloc of PMIs is still supporting common currency thereby preventing pair’s sharp fall. Today center stage will take ECB Chief M.Draghi with his lecture about stability, equity, and monetary policy in Berlin during NA session

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  • #238
  • Oct 26, 2016 5:55am Oct 26, 2016 5:55am

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Wednesday, October 26th

EUR/USD

Current price: 1.0932 (0.4%)
Session range: Open 1.0888 High 1.0927 Low 1.0874
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0827 R. 1.0965
Main drivers: US New Home Sales
Overview: The euro/dollar cross has recovered from overnight lows and refreshed its daily tops above the level of 1.0900 despite upbeat sentiment around US currency. Seems that dollar is back on the horse showing minor recovery against its major peers on Wednesday. However, euro’s funding currency status is supporting the pair last hours as shrinking risk appetite is boosting safe-haven assets. Today amid data-light calendar only US New Home Sales would be able to set up short distance direction for the pair.


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  • #239
  • Oct 27, 2016 5:25am Oct 27, 2016 5:25am

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Thursday, October 27th

GBP/USD

Current price: 1.2208 (-0.3%)
Session range: Open 1.2246 High 1.2250 Low 1.2200
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2123 R. 1.2309
Main drivers: UK GBP, US Core Durable Goods Orders, US Pending Home Sales
Overview: The GBP plays defensively this week but nevertheless has recovered from its multi-week lows marked near 1.2080 level. Currently the pound is running in a quiet mode keeping its narrow range of 20 pips as upcoming UK preliminary GDP report expected in early Europe brings cautious sentiment across the market. After UK data traders will shift their focus to the US data bloc scheduled for NA session that also will be able to provide the pair with short term impetus.

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  • #240
  • Oct 28, 2016 5:42am Oct 28, 2016 5:42am

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Friday, October 28th

EUR/USD

Current price: 1.0910 (0.1%)
Session range: Open 1.0896 High 1.0926 Low 1.0893
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.0846 R. 1.0966
Main drivers: US prelim. GDP
Overview: The euro recovers smile against its American peer this morning and finally breaks above the level of 1.0900. One of the reasons of pairs positive mood remains small dollars correction after yesterday growth. Today center stage for the major currency pair will take flash US GDP report that also will bring fresh insight on Fed meeting results scheduled for December. But Feds decision could move both ways as US election results, domestic macro data and world events could still influence US economy.

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