Intraday Outlooks For DXY, EUR/USD, NZD/USD, USD/CAD, EUR/CHF – SEB

2014-08-28 07:44:57 – Best Cash Back Forex Rebates : Intraday Outlooks For DXY, EUR/USD, NZD/USD, USD/CAD, EUR/CHF – SEB
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The following are the intraday outlooks for the USD Index, EUR/USD, NZD/USD, USD/CAD, and EUR/CHF as provided by the technical strategy team at SEB Group.

USD INDEX: Starting to correct the stretch. The greenback has during the past week been “stretched” (outside both the 233d as well as the 55…

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German 10-year bund yield falls below 0.90%

2014-08-27 13:54:39 – Best Cash Back Forex Rebates : German 10-year bund yield falls below 0.90%
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German 10-year yields are down 4 bps to a record low 0.898%.

Only 40 basis points to go to match Japanese 10s.

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There are also specific steps that a trader can take to minimize the risks involved in Forex trading, particularly involving safe ways to use the margin. Calculating the Risk-Reward Ratio is one of the most effective risk management tools in Forex trading. But be aware that Forex trading involves a substantial risk of losses.:

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USD/CAD intraday technical levels and trading recommendations for August 27, 2014

2014-08-27 12:47:01 – Best Cash Back Forex Rebates : USD/CAD intraday technical levels and trading recommendations for August 27, 2014
Cabafx.com Reporting:

caddaily.jpgcad44h.jpg

Since the USD/CAD pair failed to show enough bullish momentum above 1.1200 during the last visit on March 20, the pair has been downtrending within the depicted bearish channel, which managed to push towards the price zone between 1.0910-1.0850 (50-61.8% Fibonacci levels on the daily chart) where a prominent congestion zone was established.

Bullish rejection was expressed at retesting the lower limit of the bearish channel around 1.0630 (It’s the origin of the previous bullish impulse initiated in December 2013 as well). This enabled the bulls to achieve a bullish breakout off the depicted channel.

The USD/CAD pair has a strong resistance zone located between 1.0950 and 1.1020 (Fibonacci Levels 50% and 61.8% of the most recent bearish swing).

As we mentioned before, bearish rejection should be anticipated after such a long bullish rally that originated off 1.0650 and 1.0710.

Previously, around the price level of 1.0950, a Shooting-Star daily candlestick was expressed. This was repeated yesterday. Thus, enhancing the short-term bearish direction.

A valid SELL position was suggested at retesting which took place this week. Initial bearish target is located around 1.0825.

Conservative traders should wait for higher entry levels to be retested especially around 1.0930. Daily closure below price zone of 1.0870-1.0850 confirms a long-term double-top pattern with its projection target located at 1.0770.

On the other hand, persistence of daily fixation above 1.0950 (50% Fibonacci level) enables the bulls to shoot towards 1.1020 and 1.1050 initially (very low probability in the meanwhile ).

The material has been provided by InstaForex Company – www.instaforex.com

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Dollar Slips, while Bond Market Rally Continues

2014-08-27 12:40:25 – Best Cash Back Forex Rebates : Dollar Slips, while Bond Market Rally Continues
Short News Excerpts:

The dollar is trading a little below levels seen in late North American session yesterday, but that is after it initially extended its gains in Asia. The news stream is light, and unlike yesterday, there is no US economic data outside of the MBA’s mortgage application report.

Despite the minor …

Risks of Trading Forex :
Like any trading or investment vehicle, there is a high level of financial risk in trading Forex. In particular, the increased amount of leverage offered in the Forex market means that a trader can lose all, or a large portion, of his trading capital if the market makes a significant move against the trader’s position.

Successful traders are aware of this risk, and carefully plan their trades in order to minimize the risks to their trading capital. Even with implementing risk management tools, the risks of trading Forex remain substantial.

There are also specific steps that a trader can take to minimize the risks involved in Forex trading, particularly involving safe ways to use the margin. Calculating the Risk-Reward Ratio is one of the most effective risk management tools in Forex trading. But be aware that Forex trading involves a substantial risk of losses.
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GBP/USD intraday technical levels and trading recommendations for August 27, 2014

2014-08-27 12:33:32 – Best Cash Back Forex Rebates : GBP/USD intraday technical levels and trading recommendations for August 27, 2014
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gbpdaily.jpg1409142299_gbp4hh.jpg

One month ago, the bears initiated a bearish trend off price levels around 1.7150-1.7190. Since then, the GBP/USD pair has been declining within the depicted bearish channel.

The price levels of 1.7050 – 1.7000 failed to provide enough support for the pair. Hence, the bears had a potential bearish target around 1.6920.

However, this price zone of

Fonterra Deepens NZ-Chinese Links With Baby Formula Partnership

2014-08-27 12:00:39 – Best Cash Back Forex Rebates : Fonterra Deepens NZ-Chinese Links With Baby Formula Partnership
Cash Back News:

Fonterra Cooperative Group Ltd. (FCG), the world’s biggest dairy exporter, said it will pay NZ$615 million ($515 million) for a stake in a Chinese infant formula maker as it seeks to tap the nation’s lucrative baby milk market.

The New Zealand company will buy a stake of as much as 20 percent in…

Risks of Trading Forex :
Like any trading or investment vehicle, there is a high level of financial risk in trading Forex. In particular, the increased amount of leverage offered in the Forex market means that a trader can lose all, or a large portion, of his trading capital if the market makes a significant move against the trader’s position.

Successful traders are aware of this risk, and carefully plan their trades in order to minimize the risks to their trading capital. Even with implementing risk management tools, the risks of trading Forex remain substantial.

There are also specific steps that a trader can take to minimize the risks involved in Forex trading, particularly involving safe ways to use the margin. Calculating the Risk-Reward Ratio is one of the most effective risk management tools in Forex trading. But be aware that Forex trading involves a substantial risk of losses.
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British competition watchdog probes foreign exchange market

2014-08-27 11:42:33 – Best Cash Back Forex Rebates : British competition watchdog probes foreign exchange market
Cabafx.com Reporting:

The UK Competition and Markets Authority (CMA) has become the latest regulator to investigate the global foreign exchange market following allegations of rigging, the Wall Street Journal reported on Tuesday, citing two people familiar with the matter.

The antitrust watchdog recently shared infor…

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Use this Sterling and Euro bounce as another chance to sell

2014-08-27 10:51:07 – Best Cash Back Forex Rebates : Use this Sterling and Euro bounce as another chance to sell
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On yet another strong day for the dollar, Wall Street posted record gains after a jump in the durable goods data and multi-year highs in consumer confidence suggested continued strength in the US economy. The S&P 500 has closed above 2000 for the first time as equity markets continue to push higher….

Risks of Trading Forex :
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EUR Shorts Hanging Tough For Now

2014-08-27 10:22:03 – Best Cash Back Forex Rebates : EUR Shorts Hanging Tough For Now
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marketpulse

With the U.K. markets back online today after a holiday long weekend, playing catch-up is the order of the day. European credit markets are trading firmer this morning despite the non-rapturous applause in Asia that saw the Nikkei, Shanghai Composite Index, and Hang Seng Index close in the red after some quick profit-taking on the back of a strong rally over the past few weeks.

When it comes to forex trading these days everyone should know the rules by now: the central banks dictate market direction. Last week’s Economic Symposium in Jackson Hole, Wyo., will be regarded as a watershed moment for the eurozone’s survival. Despite Federal Reserve Chair Janet Yellen’s “neutral or less dovish” tone, it was “super” Mario Draghi’s assertion that the European Central Bank (ECB) stands ready to act again that has quickened the pulse of capital markets. Specifically, it was the ECB chief’s comment that plans for initiating asset-backed securities buying are moving forward quickly — potentially shifting the mix of the ECB’s austerity-driven plan to quantitative easing (QE). Draghi’s sense of conviction has incited many to call for the introduction of QE at the ECB’s next meet in September, and it’s the main reason for the ongoing current credit tightening after the indices were more or less closed in-line with the U.K.’s timeout. 270814gBanker Chatter Reverberates
Smooth-talking central bankers have managed to reverse the hefty U.S. August correction in the markets, especially equities. Stock records continue to fall (S&P’s mythical 2,000 print, the Dow knocking on record highs), while U.S. 10′s rally to +2.37%. In Europe, the moves have been more pronounced. Draghi’s QE battle cry will naturally favor equities and bonds, and hopefully in the longer term manage to keep the EUR (€1.3199) on its knees in aiding regional growth prospects. It’s natural that a dovish shift in tone by any central bank official probably justifies some market optimism; nevertheless, it’s also important not to get too far ahead, especially in reference to the ECB’s QE idea. Structurally, the ECB is nowhere near ready for it to be introduced, and such plans are usually heavily data dependent. Before Europe can achieve its utopia, various positional squeezes will occur. 270814hPositional Plays Influenced by Month-End
Draghi’s dovish comments on inflation, weak German Ifo data, and eurozone yields trading at record lows (10-year Bunds at +0.94%) will favor the EUR and maintain its allure as a funding currency. Nevertheless, the market’s weaker EUR short positions will be squeezed and eventually forced to exit from time-to-time; the single unit’s demise is not exactly linear. It’s been reported that influential reserve names continue to want to fade any EUR/USD upticks (€1.3225-35). The recent month-end dynamics (spot day this Friday) has seen U.S. corporations being better USD buyers to close out the month. The mighty buck seems to be consolidating some of its post-Jackson Hole pow-wow gains ahead of the release of U.S. Durable Goods Orders this morning. Even the techies note that the dollar may have drifted into ‘overbought’ territory — a possible reason for the lack of movement. Mind you, the appearance of a plethora of option barriers usually handcuffs a market until they come off.

The significant rate divergence rhetoric, coupled with U.S.-German two-year spreads climbing (+2bp to a new +54.5bp high) has encouraged the growth of EUR short positions on the international monetary market. Intraday sellers continue to be camped on the topside with €1.3245 providing strong resistance while €1.3150 barriers remain the focus for the next support. Some real-money buyers remain attracted to this area. However, EUR bears remain very much in control of the broader tone. 270814iFollow the Yield Interest
It’s not a surprise to see U.K. gilts open sharply higher — they need to play catch-up after yesterday’s summer bank holiday. The whiff of implementing QE by the ECB will favor U.K. debt products and the pound (both a yield grab). Despite data and events remaining thin on the ground, the market will be looking for any evidence to favor owning sterling over euros. Sterling’s bounce from Monday’s five-month low (£1.6542) is threatening to force a break above the psychological £1.66 handle. A momentum breakthrough at this level certainly opens the way for further gains to £1.6635-50. Nevertheless, without sustainable harder evidence, Monday’s low will remain vulnerable.

Light buying from international and domestic interest continues to power the bid in the eurozone’s peripheral debt markets. Supporting the QE story is the significant outperformance of Spanish bonds over Italian bonds. The Bund-Italian spread has tightened -4bp to Bunds, which suggests that intraday dealers are bidding the market up as they grab the most liquid of instruments. Spanish bonds are doing even better: the 10-year benchmark to Bunds are -5bp tighter, probably reflecting investors’ greater comfort level for Spanish debt, and the fact that Italy does have midweek supply to contend with. Investors are factoring in ECB QE pricing. Now, all they need is the EUR to comply.270814jAbout Dean Popplewell

PopplewellDirector of Currency Analysis and Research, Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2007, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders. Follow on Twitter and on his Google+ profile.

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