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Daily Fundamental Update — August 20th 2014

ADS Securities brings you the latest Daily Fundamental Update for the August 20th in this video.
Beginning with the US session today, US Building Permits increased to 8.1% in July. US Housing Starts rose by 15.7% in July. US YoY CPI eased back to 2.0%, Core CPI stabilized at 1.9% in July. Canada’s Wholesale Sales is expected to rise by 0.4% in June. FOMC Meeting Minutes will be released at 18:00 GMT+.
As for the Asian session today the RBA Governor Stevens came in with unpredictable remarks hinting for a possible Rate hike if the outlook changes. AUD/USD eased back to 0.9290. Japan’s Trade Balance deficit eased back to -1.02 trillion yen in July. Going forward to European session, German PPI set to remain unchanged in July. MPC Meeting Minutes will be released at 8:30 GMT+. UK’s CBI Industrial Order Expectations set to rise to 4 in August.

GBP/USD — Technical Analysis — August 20th 2014

Hantec markets brings you the latest technical analysis on the EUR/USD pair for the August 20th in this video.
GBP/USD — The pair has once again broken to the downside and what a big daily bearish candle we had there. That just destroyed any sort of hope at 1.67 level and now it has opened the possibility towards 1.6550 and more likely towards the March low at 1.6459. The weakness has continued today and there was a slight attempt of a technical rally in the European session but nothing really come through yet. The RSI indicator is indicating the trend is very negative, MACD lines consistently falling and Stochastics is also bearish. So further downside looks to be the case on this cable chart. After a big move we tend to get a little bit of a bounce. Anything towards the previous low of 1.6654 is seen as a chance to sell because we have this downtrend intact and that continues to drag everything lower. Looking at the hourly chart we have this 1.6650 area acting as resistance and any price movement towards that 50 pips range would give you a nice chance to sell. We have the Bank of England and Fed Meeting Minutes today and they could have a volatile impact on this chart.

EUR/USD — Technical Analysis — August 20th 2014

Hantec markets brings you the latest technical analysis on the EUR/USD pair for the August 20th in this video.
EUR/USD — This pair has broken down quite decisively. It initially found a little bit of support at 1.3330 and not showing any signs of stopping at the moment and now we are below that November low. Now we are looking at a minor support from September at 1.3253 and more importantly back towards 1.31. We are looking pretty bearish on the Euro once again. However the bullish divergence on the momentum indicators have not yet been broken. The RSI is still indicating bullish divergence. The MACD and Stochastics are turning lower. In terms of a rebound we have now our initial resistance at 1.3330 and looking at the hourly chart the bottom of this trading range has now turned into resistance. There may be a bit of support coming in and 1.3330 can be used as a selling opportunity now. The breakdown from this range is pushing the price much lower.

Weekly Gold and Forex Trading News — August 20th 2014

The US Indices traded higher on Tuesday after CPI data came out as expected. The Dow rose by 0.48%, S&P500 by 0.50% and NASDAQ added 0.43% to its value. The US Dollar rose versus its major counterparts on encouraging economic data. The CPI and Core CPI came out as expected at 0.1% and Housing Starts came out higher at 1.09 million. Today high volatility is expected as FOMC Meeting Minutes are scheduled for 6 O’clock GMT. Gold fell by 0.21% to close at $1,296 an ounce affected by US Housing Starts. Oil dropped by 0.95% to close at $92.85 a barrel.
The Euro fell versus US Dollar as ECB Account Balance came out lower at 13.1 billion vs. 19.8 billion. The EUR/USD has crossed below the support of 1.3335 with MACD indicator below 0 and is expected to fall to around 1.3250. Today the German PPI data is expected at 0.1% vs. 0.0% previously.
The Pound fell against the US Dollar as CPI came out lower than expected at 1.6% vs. 1.8% and PPI Input at -1.6% vs. -0.8% forecast. The GBP/USD is trading in a negative channel towards 1.6650. Breaching the bearish channel may lead the pair to around 1.6750. Today the Asset Purchase Facility Votes and MPC Official Bank Rate Votes are expected unchanged.

GBP/USD — Technical Analysis — August 19th 2014

Hantec markets brings you the latest technical analysis on the EUR/USD pair for the August 19th in this video.
GBP/USD — Sterling has come under a bit more pressure today. But it looks once again like rallies are seen as a selling opportunity and that has been the case in the past 5 weeks. Once again we had a move towards the resistance in the downtrend towards 1.6754. And it looks like it has rolled over once again on the hourly chart. Back on the daily chart you can see that consistently these rallies are being sold into. I think the pressure really remains to the downside. The downtrend comes in at 1.6778 at the moment. Any rally we get can be still contained with in this downtrend. I think we can see further pressure on the lows we see on the chart around 1.67 mark. The Moving averages are rolling over now. Momentum indicators remain fairly solidly bearish here and I think Sterling is going to struggle. We have got these big inflation numbers that come out today and looks like UK inflation is drifting lower and US inflation is just stabilizing about 2% and we have filled this gap on an intraday basis as we can see on the chart. Anything above 1.67 the prospect of a technical rally is still there. However the outlook is still weak on sterling.

Daily Fundamental Update — August 19th 2014

ADS Securities brings you the latest Daily Fundamental Update for the August 19th in this video.
Beginning with the Asian session today there were a collection of economic figures and events from New Zealand and Australia which had a notable impact in the market. Beginning with New Zealand the PPI Input fell by -1.0% in Q2. New Zealand’s PPI Output fell by -0.5% in Q2. As a result the Kiwi tumbled across the board declining the most against the Aussie and US Dollar. In Australia, RBA Meeting Minutes tone came in unchanged and stable rate ahead is likely. Hence the AUD advanced following the RBA Minutes rising the most against the Kiwi.
Looking at European session the Eurozone Current Account Surplus is set to narrow to 19.3 billion euros in June. UK’s CPY is set to decline slightly to 1.8% in July and UK PPI Input may decline by -1.0% in July. UK’s House Price Index may rise by 11.2% in June.
Looking at US session today, US Building Permits may rise to 1.0 million in July. US Housing Starts may rise to 0.97 million in July and US CPI is set to rise by 0.1% and Core CPI by 0.2% in July.

Weekly Gold and Forex Trading News — August 19th 2014

The US Indices finished higher with NASDAQ adding 0.97% to its value and closing at 14 year high. The Dow Jones rose by 1.06%, S&P 500 by 0.85%. The US Dollar traded mixed versus its major counterparts after the Housing Market Index came out stronger than anticipated. Today high volatility is expected as CPI is due for release along with Core CPI and Housing Starts. Gold fell by 0.24% to close at $1,299 an ounce. Crude oil fell by 1.02% to close at $93.92 a barrel. The Euro fell versus US Dollar as speculation over easing measures by European Central Bank continue to concern investors and world markets remain focused on Russia Ukraine conflict. The EUR/USD has fallen below Moving average 20 indicator although it is still holding above 1.3350 while breaching the Moving average 20 may take the pair to around 1.3450. The Pound rose against US Dollar despite a disappointing House Price Index result. The GBP/USD momentum is set to remain positive as long as pair is holding above support of 1.67 and RSI retracing from oversold area. Holding these conditions may lead the pair to 1.6780. Today CPI is expected at 1.8% vs. 1.9% and PPI Input unchanged at -0.8%.

EUR/USD — Technical Analysis — August 19th 2014

Hantec markets brings you the latest technical analysis on the EUR/USD pair for the August 19th in this video.
EUR/USD — We had a disappointing yesterday for the Euro bulls and yet again we had a strong move to the upside. It was a disappointment and we had a move back lower again and that continues through the Asian session overnight today. We are back towards the key support level of 1.3336 level of this trading band that we have been for the last 3 weeks. We still have this bullish divergence in the RSI indicator. Its becoming increasingly concerning that Euro bulls cannot gain control in this chart. We are seeing once again the test of 1.3350 area. Any close below this level indicates that the US Dollar is beginning to gain strength once again making the prospect of a recovery very thin.
Looking at the intraday chart we have this 1.3340 level acting as resistance keeping the selling pressure on this pair. However we have been trading sideways for the past 2 weeks. We are looking for a breakout in either direction. A break below 1.3330 could get this pair reaching 1.3295 which is the November low. We have US Inflation data coming out of US today at 1:30 and any strength on this data above 2% mark is likely to breach the trading band that we have been in for the 3 weeks to the downside.

Daily Fundamental Update — August 18th 2014

ADS Securities brings you the latest Daily Fundamental Update for the August 18th in this video.
There are a few economic figures that will be released during the Asian session today. Beginning with Asian session today, Bank of England Governor Carney says rise in real wages not pre condition for rate hike. The GBP/USD began the week higher reaching as high as 1.6739. UK’s Rightmove House Price Index fell by -2.9% in August. In Austraila, New Motor Vehicle Sales fell by -1.3% in July. In China Foreign Direct Investment decreased by -0.4% in July.
Looking at the European session today, Eurozone Trade Balance surplus may decline to 14.9 billion euros in June.
As for the US session today, Canada Foreign Securities Purchases is expected to ease back to 14.68 billion in June and US NAHBN Housing Market Index set to remain stable at 53 in August

Weekly Gold and Forex Trading News — August 18th 2014

The Wall Street finished mixed on Friday with NASDAQ rising by 0.27%, S&P 500 trading almost unchanged and Dow losing 0.3% from its value. The US Dollar traded lower against most of the other major currencies as a result of mixed economic data in the US. The PPI and Core PPI came out as expected, the Empire State Manufacturing Index came lower at 14.7 vs. 20.3 and Prelim UOM Consumer Sentiment at 79.2 vs. 82.7 previously. Gold fell by -0.72% to close at $1,293 an ounce. Crude oil rose by 1.49% to close at $96.84 a barrel. The Euro rose slightly versus US Dollar influenced by US economic data. Technically according to daily chart the RSI indicator is struggling to breach 0. It is expected to fall to around 1.3350. The Pound rose versus US Dollar following an encouraging second estimate GDP result. The GBP/USD is holding above the support at 1.6680 and the pair is expected to rise to around 1.68. Crossing below support may take it towards 1.6650.

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