Daily Market News by Xtreamforex

[xtreamforex]

EUR/USD analysis: bullish strength eases, but downward scope still limited

The EUR/USD pair retreated on Friday from a fresh 1-month high of 1.0782, but settled well above the 1.0700 threshold, as broad dollar’s weakness dominated the FX board, following Fed’s monetary policy meeting.

Technical Overview:

Prev. Close: 1.0738

Open: 1.0738

Day’s Range: 1.0734 – 1.0762

52 wk Range: 1.0339 – 1.1616

1-Year Change: – 4.61%

Support and Resistance:

Daily Camarilla Technical analysis shows that EUR/USD pair may find the immediate support at 1.0757. below which 1.0756 and 1.0755 could be tested. On the other side the immediate resistance 1.0759 and may go for further test 1.0760. A break beyond the last, doors will open for a test of 1.0761.

Technical Indicators:

Buy: 8 Sell: 0 Neutral: 3

Summary:STRONG BUY

Upcoming Economic News:

EUR – German PPI m/m

EUR – German Buba Monthly Report

EUR – German Buba President Weidmann Speaks

Read More : https://www.xtreamforex.com/Education/daily-technical-analysis-3202017/

 

[xtreamforex]

GBP/USD analysis: rising inflation fuels speculation of a BOE’s hike

The GBP/USD pair trades at its highest since late February, having extended its intraday advance up to 1.2493 and ending the day some 10 pips below this last. The Pound soared after the release of UK inflation data, as consumer prices rose far beyond expected. Yearly CPI hit 2.3% in February from 1.8% in January, while monthly basis, inflation surged by 0.7& from a previous decline of 0.5%. Core yearly inflation jumped to 2.3%. Producer prices rose less than expected, but remained high in the same month, while the Retail Price Index jumped to 3.2% YoY.

Technical Overview:

Prev. Close: 1.2479

Open1.2479Day’s Range: 1.2464 – 1.2486

52 wk Range: 1.145 – 1.5020

1-Year Change: – 13.15%
Support levels: 1.2345 1.2300 1.2260

Resistance levels: 1.2425 1.2470 1.2510
Technical Indicators:

Buy: 6 Sell: 2 Neutral: 3

Summary:STRONG BUY

Upcoming Economic News:

GBP – 30-y Bond Auction



For Analysis Visit: https://www.xtreamforex.com/Education/daily-technical-analysis-3222017/

 

[xtreamforex]

Oil bounces off November lows, but bloated U.S. stockpiles pressure market

Oil prices recovered on Thursday from losses chalked up the session before, but the market remained under pressure as bloated U.S. crude inventories and rising output dampen OPEC-led efforts to curb global production.

Brent crude futures, the international benchmark for oil, were at $50.95 per barrel at 0231 GMT, up 31 cents, or 0.6 percent, from their last close. That came after Brent briefly dipped below $50 a barrel on Wednesday for the first time since November.

U.S. West Texas Intermediate (WTI) crude futures were up 35 cents, or 0.7 percent, at $48.39 a barrel, after testing support at $47 overnight.

Analysts said Brent had found technical support around $50 a barrel and was being pushed up as traders took new long positions after crude hit multi-month lows overnight.

Despite the bounce, traders said the market remained under pressure, largely due to a big U.S. inventory and doubts that an effort led by the Organization of the Petroleum Exporting Countries (OPEC) to cut output was reining in a global fuel supply overhang.


Read Full Analysis: http://www.xtreamforex.com/Education/oil-bounces-off-november-lows/

 

[xtreamforex]

GBP/USD analysis: tough EU position on Brexit weighs on Pound

GBP/USD Current price: 1.2425

The UK formally begun the Brexit process through a letter that PM May delivered to the EU, resulting in some wild swings in Pound crosses and with the GBP/USD settling at 1.2425. The two parts are beginning now a two-year process that EU President Donald Tusk expects to start with “key arrangements for an orderly withdrawal.” UK PM May, on the contrary, wants to focus on a comprehensive free-trade deal, something that the EU is not willing to put on the table, at least for now.

Read Full on : https://www.xtreamforex.com/Education/gbpusd-analysis-tough-eu-position-on-brexit-weighs-on-pound/

 

[xtreamforex]

Gold Fundamental Forecast For The Week of April 3, 2017
Gold futures posted a two-sided trade last week before closing only slightly lower. Investors had a lot on their plates last week, dealing with Trump administration issues, the U.S. Dollar, interest rates, Brexit and French presidential elections.

June Comex Gold futures closed the week at $1251.20, down $0.50 or -0.04%.

Comex gold futures started the week more than 1 percent higher after President Trump’s failure to put through a healthcare reform package the previous Friday raised questions over his ability to deliver promised tax cuts and spending plans.

This news drove the U.S. Dollar into a four-month low, making dollar-denominated gold a more attractive investment.

Gold prices retreated the rest of the week after the dollar strengthened due to hawkish commentary from several Fed officials.
Read More : xtreamforex

 

[xtreamforex]

Daily Technical Analysis & Forecast | XtreamForex

EUR/USD Technical Forecast
Day’s Range: 1.0663 - 1.0675
Support levels: 1.0649|1.0639|1.0623
Resistance levels: 1.0681|1.0691|1.0707

GBP/USD Technical Forecast
Day’s Range: 1.2421 - 1.2496
Support levels: 1.2466|1.2445|1.2409
Resistance levels: 1.2538|1.2559|1.2595

[URL deleted]

 

[xtreamforex]

How Do Oil Prices Affect Your Trading Wallet?

It is important for everyone to keep an eye on the live oil prices as it affects a large part of our life on a day to day basis. One of the main reasons for this fact is that unlike other commodities like gold, silver, diamond etc., oil is an essential commodity and considering its usage and impact in our lives, it is probably the most important commodity in the world. A couple of decades back, entire wars were fought by some of the greatest world powers in order to gain control over large reserves and this should be enough proof to stress the importance of oil as a commodity that impacts our daily lives.

[URL deleted]

 

[xtreamforex]

Daily technical Analysis & Forecast: WEDNESDAY-April 6, 2017


EUR/USD Forecast: Will it break the range ahead of Trump-Xi Summit?

Day’s Range: 1.0662 - 1.0684

Support levels: 1.0640|1.0626|1.0604

Resistance levels: 1.0684|1.0698|1.0720


GBP/USD Forecast: GBP/USD has a relook at 1.25 handle, focus on Trump-Xi meeting

Day’s Range: 1.2475 - 1.2501

Support levels: 1.2437|1.2418|1.2387

Resistance levels: 1.2499| 1.2518| 1.2549


USD/JPY Forecast: USD/JPY downside playing out, fresh lows scored in Tokyo

Day’s Range: 110.30 - 110.73

Support levels: 110.52| 110.30| 109.93

Resistance levels: 111.26| 111.48| 111.85
[URL deleted]

 

[xtreamforex]

GBP/USD: GBP/USD pair is on a minor-recovery mode in mid-Asia

The pair bottomed at 1.2450 this Thursday, now the immediate support, although a more relevant one comes at 1.2410, and only below this last the pair can gain bearish momentum.


GBP/USD Technical Forecast

Day’s Range: 1.2447 - 1.2477

Support levels: 1.2452| 1.2438| 1.2415

Resistance levels: 1.2498| 1.2512| 1.2535


Visit: https://www.xtreamforex.com/Education/gbpusd-forecast-daily-technical-forecast-april-07-2017/



EUR/USD: Has Euro lost its funding currency status?

the EUR/USD pair hardly moved following the US attack on the Syrian targets. The common currency has been referred to as a new funding currency, ever since the ECB hit the zero lower bound and started the QE program back in 2014/15.


EUR/USD Technical Forecast

Day’s Range: 1.0633 - 1.0660

Support levels: 1.0630| 1.0616| 1.0593

Resistance levels: 1.0676| 1.0690| 1.0713

[URL deleted]

 

[smithyoung]

I have read in this information. I saw this is information very nice for newbie.

 

[xtreamforex]

GBP/USD Fundamental Analysis – week of April 10, 2017

GBPUSD spent most of the week within a tight range between 1.24 and 1.25 and we had mentioned in our daily forecasts that this is likely to be the range for the next few days and that’s what had happened. We had also mentioned that even if the pair was to break through the highs of the range at around 1.25 region, there was a very strong resistance around the 1.26 region and so there was not much for the bulls to look forward to.


GBP/USD Technical Forecast

Day’s Range: 1.2367 - 1.2389

Support levels: 1.2356| 1.2309| 1.2235

Resistance levels: 1.2504| 1.2551| 1.2625




EUR/USD Fundamental Analysis – week of April 10, 2017

EURUSD pair continued to weaken through the week and there has been no respite so far. Looking at the bigger picture, the pair is moving within a larger range between the 1.09 and 1.05 region and as we had mentioned in our monthly forecasts.


EUR/USD Technical Forecast

Day’s Range: 1.0570 - 1.0589

Support levels: 1.0577| 1.0550| 1.0507

Resistance levels: 1.0663| 1.0690| 1.0733


[URL deleted]

 

[xtreamforex]

Oil falls - 0.79% after failed North Korean missile test
Crude oil fell in quiet trading on Monday, after the three-day Easter break, on signs the United States is continuing to add output, undermining OPEC efforts to support prices, and as the market digested North Korea's failed missile launch on Sunday.

Benchmark Brent crude futures were down 49 cents at $55.40 at 0310 GMT. On Thursday, before the break closed most major markets, they settled up 3 cents at $55.89 a barrel.

U.S. West Texas Intermediate crude futures were also down 47 cents at $52.71 a barrel. They rose 7 cents to $53.18 on Thursday.

[URL deleted]


Gold Price rose in Asia as china GDPs improvement
Gold prices gained solidly on Monday as China GDP came in better than expected and tensions on the Korean peninsula supported demand.

Gold for June delivery on the Comex division of the New York Mercantile Exchange rose 0.35% to $1,293.00 a troy ounce, while silver futures were up 0.49% to $18.600 and copper futures gained 0.62% to $2.583 a pound.

[URL deleted]

 

[xtreamforex]

The USD fell to a five-month low against the JPY | April 18, 2017

The U.S. Dollar fell to a five-month low against the safe-haven Japanese Yen on tensions with North Korea over the week-end. The dollar rebounded, however, as the Dollar/Yen Forex pair neared a major retracement level at 107.856, sending it higher into the close. The catalyst behind the rally was a rise in U.S. Treasury yields which made the dollar a more attractive investment.U.S. West Texas Intermediate crude futures were also down 47 cents at $52.71 a barrel. They rose 7 cents to $53.18 on Thursday.

Read More Details: https://goo.gl/CHvKK9

 

[xtreamforex]

How are Bollinger Bands used in forex trading?
Bollinger Bands are one of the most popular technical indicators for traders in any financial market, whether investors are trading stocks, bonds or foreign exchange (FX). Many traders use Bollinger Bands to determine overbought and oversold levels, selling when a price touches the upper Bollinger Band and buying when it hits the lower Bollinger Band. In range-bound markets, this technique works well, as prices travel between the two bands like balls bouncing off the walls of a racquetball court. However, Bollinger Bands don’t always give accurate buy and sell signals. This is where the more specific Bollinger Band “bands” come in. Let’s take a look.

As John Bollinger was first to acknowledge: “tags of the bands are just that – tags, not signals. A tag of the upper Bollinger Band is not in and of itself a sell signal. A tag of the lower Bollinger Band is not in and of itself a buy signal.” Price often can and does “walk the band.” In those markets, traders who continuously try to “sell the top” or “buy the bottom” are faced with an excruciating series of stop-outs or worse, an ever-mounting floating loss as price moves further and further away from the original entry.

Perhaps a more useful way to trade with Bollinger Bands is to use them to gauge trends. To understand why Bollinger Bands may be a good tool for this task we first need to ask – what is a trend?

Read More: https://goo.gl/zzzm4A

 

[xtreamforex]

Commodities Daily Forecast – April 20, 2017 | XtreamForex

Gold

prices fell on Wednesday in response to a stronger U.S. Dollar and rising U.S. Treasury Bond yields. June Comex Gold finished the session at $1283.40, down $11.50 or -0.89% and continued the trend on Thursday morning. The market fell to its lowest level since April 12 and closed lower for the first time in five sessions.

Investors were caught off guard by gold’s response to a steep drop in U.S. equity markets. However, support continued to be provided by concerns over geopolitical events in North Korea and the upcoming French presidential elections… Read More

Silver

Silver fell a bit during the day on Wednesday, testing the $18 level for support. This is an area that has a certain amount of psychological significance, so obviously, a bit of a bounce could be coming. On top of that, we have a nice, strong, uptrend during the day. The market looks as if we are going to try to reach towards the $18.50 level, and then the $19 level after that. Ultimately, the market might be choppy, but I still believe the buyers return repeatedly. It is not until we make a fresh, new low that I would even consider selling… Read More

WTI Crude Oil

Crude oil prices were hammered on Wednesday, with a sharp drop that followed the Department of Energy’s report on inventories. Initially the decline in imports kept prices buoyed, but the robust increase in gasoline inventories, weighed on prices. WTI has been buoyed by supply constraints which has lifted market sentiment over the past couple of weeks. Inventories in the United States remain high, as production from U.S. producers have taken the place of OPEC output… Read More

Find Details Here: https://www.xtreamforex.com/Education/dailiy-forex-technical-analysis/

 

[xtreamforex]

How to do Fundamental Analysis & Fundamentals Trading Strategies

In the equities market, fundamental analysis looks to measure a company’s true value and to base investments upon this type of calculation. To some extent, the same is done in the retail forex market, where forex fundamental traders evaluate currencies, and their countries, like companies and use economic announcements to gain an idea of the currency’s true value.

All of the news reports, economic data and political events that come out about a country are similar to news that comes out about a stock in that it is used by investors to gain an idea of value. This value changes over time due to many factors, including economic growth and financial strength. Fundamental traders look at all of this information to evaluate a country’s currency.

Given that there are practically unlimited forex fundamentals trading strategies based on fundamental data, one could write a book on this subject. To give you a better idea of a tangible trading opportunity, let’s go over one of the most well-known situations, the forex carry trade. (To read some frequently asked questions about currency trading,


Read More

https://www.xtreamforex.com/Educati...tal-analysis-fundamentals-trading-strategies/

 

[xtreamforex]

USD/JPY Forecast April 25, 2017
The Dollar Index (DXY) gapped lower overnight as the outcome of the French election underpinned the euro, which makes up a big portion of the index. Despite the DXY’s weakness, the USD/JPY gapped higher as the news also undermined perceived safe haven assets such as gold and yen. But the gains for the USD/JPY were short-lived and the daily chart of the USD/JPY is currently displaying a bearish price pattern, which suggests that the gap may well be ‘filled’ completely in due course and there may even be a possibility for a deeper pullback.

As can be seen from the chart, the USD/JPY is in the process of potentially forming an inverted hammer candlestick formation after the gap up. This price pattern is typically bearish as it highlights a lack of willingness from the buyers to hold onto their positions. Thus, we may see some weakness follow-through in the upcoming Asian session.

Read More: https://www.xtreamforex.com/Education/usdjpy-path-of-least-resistance-still-to-downside/

 

[xtreamforex]

EUR/USD: Bullish above 1.0900 on ECB taper hints & softer USD

The EUR/USD pair stalled its recent bullish momentum in the Asian session this Wednesday, and now enters a phase of consolidation, after the bulls ran into the key resistance of 1.0950 levels.

The spot is trying to defend the bids near 1.0935 region at the moment, moving slightly away from five-month tops reached at 1.0951 in the US last session.

The Euro extended its rebound versus the American dollar on Tuesday, after the US dollar took the back seat across the board amid risk-on trades and doubts whether the Trump administration will actually provide details on the tax reform plans on Wednesday.

The spot also remains underpinned amid easing French election-related anxiety, as a Macron win appears to be full priced-in by markets, with most opinion polls showing about 60% support for Macron against 39% for the anti-EU candidate Le Pen.

Also, expectations of some hawkish hints from the ECB, with markets widely anticipating the central bank to resort to taper talks, adds to the recent bullish tone seen behind the major.

Nothing of relevance for the major in the day ahead, and hence, the US tax reform plans announcement will hog the limelight later in the NA session.

EUR/USD Technical Levels

Technical resistances for the pair are aligned at 1.0950/51 (psychological levels/ 5-month tops), 1.0968/71 (classic R1/ Fib R2) and finally 1.1000 (key resistance). On the flip side, the spot finds next support at 1.0909/00 (daily pivot), a break below that level could open the door to 1.0866/67 (5-DMA/ classic S1) and 1.0775 (10-DMA).

Find More Analysis @ https://www.xtreamforex.com/Education/

 

[Alma James]

Hi new here! Hope to learn well!

 

[xtreamforex]

Xtreamforex is glad to announce the Demo Contest Winners Name.

After one month of demo trading contest at last we have found the final 15 contest winners.

Our first 5 Demo Contest Winners are:

1 33366 Elie Rebeiz Serbia $11,000

2 34084 nicolas colan Italy $5000

3 34107 sabir rehman Bangladesh $3,000

4 34085 zaheet zumair Oman $200

5 33375 jane lee China $200


Visit: https://www.xtreamforex.com/competitions-ranking/