GBP/USD- Bounced from Support zone- What now!

 

The GBP/USD pair bounced from its support zone a 30 minute time frame as predicted. This support zone was given in our analysis on 28th of August.  However, the price is trading below the downward trend line and broken this line only for a brief moment before the bears have pushed the price back down again. Moreover, the GBP/USD  is also trading below the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirm that the bears in full control.

Technical Analysis

USD/JPY- Bounced from its support as predicted

 

The USD/JPY pair has bounced from its support zone on a 30 minute time frame as predicted. This support zone was given in our analysis on 26th of August. The price has broken the upward channel which confirms that the upward trend has become weaker. Moreover, the price is trading below the 50 day (shown in green) but above the 100 day (shown in yellow) moving averages which is a further confirmation of the above argument. The volatility for the pair remains low as the price is trading within the Bollinger band and close to its 20 day moving averages.

Technical Analysis

EUR/USD- German Unemployment pushed the Euro lower but the upward move could on the cards

 

 

Fundamental Analysis – Unemployment Rate increased and Angela Merkel’s challenges soared

On the European front, Angela Merkel’s electioneering campaign remains in full swing as the country is approaching to the full employment level. German unemployment numbers released today increased unexpectedly by 7K, while the forecast was a decrease by 5K which has pushed the euro lower. This has certainly created more challenges for Angela Merkel who is trying to convince Germany that she is the best person to run the country. Having said that, it is a fact that there is no recession in the country and thanks to Angela Merkel and her policies which has pulled the country out of a recession on the path of a stronger growth because, let’s not forget that Germany certainly has a spill over effect for rest of the Europe.

Technical Analysis

Gold- Fundamental Vs Technical Analysis

 

Fundamental Analysis – Preliminary  GDP data would fuel taper talk

Tapering talk, which is so far heavily influencing the price of the yellow metal, will take further fuel when an economic data will be released this afternoon – US Q2 GDP revision. The forecast is for the upward revision for this number to 2.2% from previous reading of 1.7%. However, there are certainly doubts if such is possible, given that the recent run of poor economic data which has been coming on the weaker side.

Technical Analysis

Global heavy Sell off Reprieve, Carney’s polices , Surprise increase in German unemployment and US GDP in focus

Global market enjoys reprieve after a heavy sell off European stock markets are trading higher during the early hours of trading. Despite these mild gains in Europe which have been filtered from the Asian and US markets, the volatility in the markets remains extremely elevated as the possibility of a military strike on Syria is still a concern…

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EUR/USD- Fundamental Vs Technical Analysis

 

Fundamental Analysis

German Elections and Angela Merkel

Angela Merkel is still on a continuous path of defending her position in the upcoming election and blamed the Greece situation on the previous chancellor by saying that such a country should never be allowed to join the euro. However, one may say if such is the situation then certainly there should be the same argument for Spain, Portugal and Italy!

Technical Analysis

Week Ahead: Fundamentals U.S – 26th – 31st August

 

U.S will kick off their trading week with a major economic data release on Monday which is Core durable good order. On Tuesday, investors will look at the Core confidence. Wednesday, will focus on pending home sales followed by preliminary GDP data and  Unemployment Claims numbers are due on Thursday which will give more insight about the US economy. Finally, Personal Income data will take traders attention on Friday.

 

Weekly Forecast