Forex Market Commentary
EUR/USD is gaining ground on strong Euro zone Q1 economic data releases with the economy expanding at an annualized 1.0% which is the fastest rate of expansion since Q1 2014. For the short term at least the USD hasn't got much of a leg to stand on and 1.14 is at play. but a serious push through the 1.15 with a smash and grab beyond is not even on the table. Serious shorts are in the market and many specs would consider entering fresh shorts should the EUR wish to penetrate the 1.15 mark. That breech in itself at the moment as things stand is not even a scenario on the agenda. Dollar parity remains the play and shorts will re-enter on any serious slippage.
Bullion climbed 22 points today in an impressive climb in the wake of more Dollar slippage and crude oil holds its sway because of fundamental economics of demand and supply justifying the new benchmark pricing guide.
On Bloomberg today please read the following article on USD and the bonds markets and the grim performance of fund managers in the face of interest rate uncertainty - http://www.bloomberg.com/news/articles/2015-05-13/dollar-holds-retreat-as-data-dims-rate-rise-outlook-crude-slips
and another very curious discussion caught my eye being a comment made by HSBC today on central banks running out of any policy room to kick start the global economy on wht is fast becoming the most serious recession of the modern international economy. Ever since 2008 central banks round the globe have been coordinating to breathe life into global hotspots and 6 years later where are we? slow growth and near zero per cent interest rates. Please read on Bloomberg -
http://www.bloomberg.com/news/articles/2015-05-13/hsbc-central-banks-are-running-low-on-ammunition
Please note that technical data should only be used as a guide but be aware that it is the fundamental data which becomes the trigger that pushes prices into equilibrium of demand and supply.
Bullion climbed 22 points today in an impressive climb in the wake of more Dollar slippage and crude oil holds its sway because of fundamental economics of demand and supply justifying the new benchmark pricing guide.
On Bloomberg today please read the following article on USD and the bonds markets and the grim performance of fund managers in the face of interest rate uncertainty - http://www.bloomberg.com/news/articles/2015-05-13/dollar-holds-retreat-as-data-dims-rate-rise-outlook-crude-slips
and another very curious discussion caught my eye being a comment made by HSBC today on central banks running out of any policy room to kick start the global economy on wht is fast becoming the most serious recession of the modern international economy. Ever since 2008 central banks round the globe have been coordinating to breathe life into global hotspots and 6 years later where are we? slow growth and near zero per cent interest rates. Please read on Bloomberg -
http://www.bloomberg.com/news/articles/2015-05-13/hsbc-central-banks-are-running-low-on-ammunition
Please note that technical data should only be used as a guide but be aware that it is the fundamental data which becomes the trigger that pushes prices into equilibrium of demand and supply.
Always look to support and resistance band lines as the key to understanding in the long and short term where prices are converging. Professional technical traders use 50 day and 200 day medium and slow moving averages as fundamental cornerstones for interpreting the direction of price action.
USDX
US Dollar
93.696 +0.078 +0.10%
93.696 +0.078 +0.10%
Support 92.774 Resistance 95.104
Forward 1 year - 94.698. Flat line.
Forward 1 year - 94.698. Flat line.
EUR
1.134185 +0.012545 +1.12%
Support 1.11397 Resistance 1.14997
Forward 1 year - 1.14540. Flat line.
Crude Oil
61.07 -0.42 -0.68%
Support 58.96 Resistance 62.62
Forward 1 year - 64.19. Low growth positive line.
Forward 1 year - 64.19. Low growth positive line.
Gold
1215.050 +22.645 +1.90%
Support 1,180.9 Resistance 1,237.1
Forward 1 year - 1,223.9 Low growth line.
Pieter Bergli - DeLoren Trust Holdings
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Forex market commentaries and media reports for free
Disclaimer - U.S. Government Required Disclaimer - Commodity Futures Trading Commission
Futures and Options trading involves risks of losses. No representation is being made that any reader and account will or is likely to achieve profits or losses similar to those that are being discussed on this blog http://forexeducationperspective.blogspot.com/. The past performance of any trading system or methodology discussed is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this blog http://forexeducationperspective.blogspot.com/ are for educative and illustrative purposes only and not to be construed as specific advisory recommendations for actual trades. Disclaimer - http://forexeducationperspective.blogspot.com/ bears no responsibility for the trading actions of its readers
Pieter Bergli - DeLoren Trust Holdings
A non-profit commitment to provide education on the properties of currency markets
Forex market commentaries and media reports for free
Disclaimer - U.S. Government Required Disclaimer - Commodity Futures Trading Commission
Futures and Options trading involves risks of losses. No representation is being made that any reader and account will or is likely to achieve profits or losses similar to those that are being discussed on this blog http://forexeducationperspective.blogspot.com/. The past performance of any trading system or methodology discussed is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this blog http://forexeducationperspective.blogspot.com/ are for educative and illustrative purposes only and not to be construed as specific advisory recommendations for actual trades. Disclaimer - http://forexeducationperspective.blogspot.com/ bears no responsibility for the trading actions of its readers
