Technical News | GDMFX Brokerage

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2013.01.02: A new beginning

EUR/USD

Yesterday the market stood still and the EUR/USD pair was no exception. It is a rare occasion, but not even a one pip move could be seen in any currency pair.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130102-A-new-beginning-Picture-01-1024x657.png

Technical Outlook

The stalemate seen yesterday will come to an end today when the market will pick up again and the volume will slowly get back to normal. A few days ago we mentioned the horizontal channel that confines the pair and which is still holding. The lower boundary of the channel is the support formed at 1.3170 and it rejected price numerous times proving to be a strong barrier for any down movement. The upper boundary is located at the 1.3290 level of resistance. At the moment our bias is neutral on the pair but we consider that a break of either boundary of the channel is indicative of an extended move in that direction.

Fundamental Outlook

Although some banks are still closed, today there are some releases of economic indicators: for the Euro zone the most important are the Spanish Manufacturing PMI coming out at 08:15 am GMT and the Italian Manufacturing PMI released a half an hour later. Better than expected numbers usually strengthen the currency but the market conditions still cannot be considered normal and surprises can occur. Later, at 3:00 pm GMT the US release the ISM Manufacturing PMI, a high impact diffusion index based on the opinion of about 400 purchasing managers. The forecast is for 50.2 from a previous of 49.5. Higher values then 50.2 can strengthen the US Dollar.



GBP/USD

Just as expected, the pair had no movement yesterday, but the last trading day of 2012 brought a lot of bullish momentum.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130102-A-new-beginning-Picture-02-1024x657.png

Technical Outlook

There is a distinct possibility for the pair to continue its strong move up touching once again the resistance formed at 1.6300. Monday many resistance levels were broken: diagonal resistance created by the down trend line, dynamic resistance created by the 200 Simple Moving Average and horizontal resistance represented by the 1.6175 level. This makes future higher prices very probable. But like we mentioned, the market is still not entirely back to normal so we recommend a lot of caution.

Fundamental Outlook

The only data released by the UK today is the Manufacturing PMI, scheduled for 09:30 am GMT, with a small increase expected: 49.2 from a previous of 49.1. The index is based on about 600 surveyed purchasing managers and it usually has a hefty impact on the market. The US event mentioned earlier will also affect the GBP/USD pair.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4 year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view on the market.


http://i1133.photobucket.com/albums/m589/4jurnal/728x901.jpg (http://www.gdmfx.com/?ib=207)

[pasfx]

2013.01.03: Another day inside the channel? (http://www.gdmfx.com/2013-01-03-another-day-inside-the-channel/?ib=207)


EUR/USD

Almost immediately after the opening of the market, the EUR/USD shot up for about 100 pips and price touched the upper boundary of the channel that we talked about before rebounding hard and traveling the whole distance back towards the lower boundary of the channel.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130103-Another-day-inside-the-channel-Picture-01-1024x657.png

Technical Outlook

Lately the horizontal channel seems to be the main technical aspect of the market and price has almost text book reactions when it touches either one of its boundaries. We mentioned this before but the upper boundary of the channel is represented by the resistance formed at 1.3290 and the lower boundary is formed by the support level at 1.3170. If the channel will still contain the pair and the current break of the lower boundary is a false one, then it is most likely that we will see today a rally into higher territory. Of course a real break is not out of the question and if that occurs, we expect an extended move down.

Fundamental Outlook

Today�s fundamental side of the market will be influenced to some extent by the German and Spanish Unemployment Change numbers coming out early in the morning but they are not considered to be high impact economic indicators. Lower numbers are good for the Euro because an economy with less unemployed people is considered a thriving one.

The main fundamental events today come from the United States in the form of the ADP Non-Farm Employment Change (anticipated 134K from a previous of 118K), released at 1:15 pm GMT and the Unemployment Claims which will be released 15 minutes later (anticipated 356K form previous 350K). In the case of the first indicator, higher numbers than expected are good for the currency and for the second indicator, lower numbers are likely to strengthen the currency. The final event that we must keep an eye on comes late at 7:00 pm GMT and it�s the FOMC Meeting Minutes, containing a detailed explanation of the reasons that influenced the FOMC members� vote on the US interest rate.

GBP/USD

What appeared to be a true break of the resistance formed at 1.6300 turned out to be just a false one, followed by a substantial move down, below the mentioned resistance.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130103-Another-day-inside-the-channel-Picture-02-1024x657.png

Technical Outlook

Lately the momentum has been strongly bullish for the pair but the recent drop makes our technical view almost neutral. It appears that no clear direction can be established and we recommend caution when trading the GBP/USD, at least until further developments. If price continues down, the level of 1.6175 could provide some support, but sudden moves to the upside (towards 1.6300 again) are not out of the question.

Fundamental Outlook

The most important economic indicator released today for the British Pound is the Construction PMI (09:30 am GMT), with a slight increase being anticipated: 49.6 from a previous of 49.3. It is an index based on the opinions of about 170 Purchasing Managers and better than expected numbers can strengthen the GBP, driving the pair higher. All the US data mentioned earlier will impact our analyzed pair.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4 year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view on the market.

[pasfx]

2013.01.04: The big fall begins (http://www.gdmfx.com/2013-01-04-the-big-fall-begins/?ib=207)


EUR/USD

Yesterday we experienced a text book break of the lower boundary of the horizontal channel that contained the pair for the last period. After the break, price re-tested the support turned resistance and then continued lower, exhibiting clear seller control over the market.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130104-The-big-fall-begins-Picture-01-1024x657.png

Technical Outlook

Our bias on the pair is bearish at the moment and we base this on the recent break of the support formed at 1.3170 and also the decisive break of the 1.3140 support. Both are now resistance once again, confirmed by the re-test seen after the break. The next important support level is located at 1.3020 and although we don�t expect it to be hit today, we consider that to be the next short term target for the EUR/USD pair. As always, we must be aware of surprise moves above 1.3170 which would be indicative of indecision in the market, not necessarily an uptrend.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130104-The-big-fall-begins-Picture-02-1024x657.png

Fundamental Outlook

The attention today is focused on the United States as we expect the always important release of the Non � Farm Employment Change numbers at 1:30 pm GMT. Actual numbers higher than the expected ones are indicative of economic stability and even growth which usually translates into a strong currency for the country. Today�s expected number is 150K from a previous of 146K. At the same time, the US Unemployment Rate is released, but no change is expected: 7.7% from previous 7.7%. If the value will drop, that will be positively reflected in the currency. The final release of the day concerning the US Dollar is the ISM Non Manufacturing PMI (3:00 pm GMT) and a small decrease is expected: 54.2 from the previous of 54.7. Higher numbers than 54.2 can strengthen the US Dollar and drive the pair lower.


GBP/USD

The pair had a downward trajectory, just like its sister pair, EUR/USD. The support at 1.6175 crumbled under the pressure of the sellers and at the moment price is sitting on the support formed at 1.6140.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130104-The-big-fall-begins-Picture-03-1024x657.png

Technical Outlook

The bulls seem to have no answer at the moment and we expect lower prices for the pair. The level to watch is 1.6175 because it was not re-tested and another small move up to touch it is possible. In the event that price does not move up to touch the broken support turned resistance, the 200 Simple Moving Average could provide some support for the pair.

Fundamental Outlook

Our analyzed pair will be affected today by the UK Services PMI released at 09:30 am GMT. The value is expected to increase slightly (50.4 from a previous of 50.2) but the Pound will probably strengthen only if the value will be higher than 50.4. The important US events mentioned above will have a hefty impact on our pair as well.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4 year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view on the market.

[pasfx]

2013.01.07: The ingredients for a break of support are present (http://www.gdmfx.com/2013-01-07-the-ingredients-for-a-break-of-support-are-present/?ib=207)


EUR/USD

The anticipated drop for the pair occurred and price touched the support formed at 1.3020, although it didn’t re-test the broken level of 1.3140 like we expected. A bounce into up was then experienced, resulting in a higher close of the day.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130107-The-ingredients-for-a-break-of-support-are-present-Picture-01-1024x657.png

Technical Outlook

The move up seen during Friday’s trading session does not change our bearish sentiment on the pair and we consider it a much needed retracement after such a big fall. Price dropped almost 300 pips in just two days so the sellers are in control of the market at the moment but probably profit taking at the 1.3020 support pushed price higher (the process of closing a sell trade implies buying). At the moment price shows a small rejection from the 50 period Simple Moving Average and Bearish Divergence is present so this could be a good place for the retracement to end and the down trend to resume. We are not dismissing any moves higher but we find them less probable.

Fundamental Outlook

Mondays are usually slow in terms of economic indicators releases and today the only events that could affect the pair come from the Euro zone in the form of the Sentix Investor Confidence and the Producer Price Index. Usually both these indicators have a very light impact on the market and sometimes can even go unnoticed by traders, but surprising numbers could generate some movement. No data concerning the US Dollar is scheduled for release today.

GBP/USD

Since the false break of the strong resistance established at 1.6300, the pair has been in a clear and strong downtrend, apparently breaking the support at 1.6040 during Friday’s trading session before retracing above it.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130107-The-ingredients-for-a-break-of-support-are-present-Picture-02-1024x657.png

Technical Outlook

Although price at the moment sits above support, we consider that today another attempt at breaking it will occur. The fact that price could not break the 1.6040 level on the first attempt is not indicative of downtrend weakness, but rather a short term seller exhaustion and some profit taking, just like we mentioned on our EUR/USD technical outlook. The Hidden Bearish Divergence is present in the GBP/USD pair as well and we expect a down trend resumption during today’s trading session.

Fundamental Outlook

The only notable economic indicator released today for the British Pound is the Halifax House Price Index, coming out at 08:00 am GMT with an expected decrease from a previous of 1.0% to 0.2%. Actual numbers higher than 0.2% could strengthen the Pound and drive the pair higher, but this indicator is not known as a strong market mover so we don’t expect major moves to be generated by its release.

Written by: Bogdan Giulvezan

The article above is based on the writer’s 4 year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view on the market.

[pasfx]

2013.01.08: The support levels still have strength (http://www.gdmfx.com/2013-01-08-the-support-levels-still-have-strength/?ib=207)


EUR/USD

During yesterday�s trading session, the pair had another clash with the support created at 1.3020 and so far it looks like we are not going to see price moving below this level. The European Sentix investor Confidence was announced at -7.0, much better than the expected -13.7 and although it is not a high impact indicator, it helped the Euro in its upward path.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130108-The-support-levels-still-have-strength-Picture-01-1024x657.png

Technical Outlook

We maintain our bearish bias on the pair and we consider that this move up lacks the power to break any strong resistance levels. A good place for the sellers to take back control of the market is the resistance created at 1.3170, seen on the four hour chart above. On the downside, the support at 1.3020 remains crucial and a possible break will probably generate more seller pressure and consequently, lower prices.

Fundamental Outlook

Today no high impact economic indicators are released for either the Euro or the US Dollar. The only scheduled releases worth mentioning are the Euro zone Retail Sales, coming out at 10:00 am GMT, with an increase expected (0.5% from a previous of -1.2%) and the Euro zone Unemployment Rate, coming out at the same time, with a very small increase anticipated: 11.8% from 11.7%. For the retail Sales, higher numbers are likely to strengthen the currency and the opposite applies for the Unemployment Rate.


GBP/USD

The two pairs have been highly correlated during the last period so the movement of the GBP/USD was quite similar yesterday to the one of the EUR/USD, making another attempt at breaking the support before retracing higher.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130108-The-support-levels-still-have-strength-Picture-02-1024x657.png

Technical Outlook

It seems like price is headed into resistance again and a good place to see if the move up really has some power is at the resistance zone of 1.6130 � 1.6140. If that zone is surpassed, the next hurdle will be 1.6175. On the down side, 1.6040 remains extremely important for future direction and a valid break would be indicative of down trend resumption.

Fundamental Outlook

The UK doesn�t release any economic indicators today that could affect the pair and neither do the United States. It appears that today�s movement will be driven by the technical aspect of the market.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4 year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view on the market.

[pasfx]

2013.01.09: Possibly a deciding day for near-future direction (http://www.gdmfx.com/2013-01-09-possibly-a-deciding-day-for-near-future-direction/?ib=207)


EUR/USD

Although we anticipated a reversal once the resistance at 1.3170 is touched, the bulls ran out of steam before that happened and yesterday�s trading session was dominated by the bears. However, the support at 1.3020 was in not broken or even touched.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130109-Possibly-a-deciding-day-for-near-future-direction-Picture-01-1024x657.png

Technical Outlook

Today we anticipate more down side movement and a possible break of the important support level created at 1.3020. However, from an hourly chart perspective, the Relative Strength Index is close to the oversold level so we might see a small move up before price reaches support. That move up will probably clear the oversold condition of the RSI.

Fundamental Outlook

The fundamental scene is quiet today, just like the first two days of the week and no major economic, financial or political data comes out. Euro zone�s only notable economic indicator is the German Industrial Production, released at 11:00 am GMT. It measures economic health from an industrial perspective and for today�s release an increase is expected, from a previous of -2.6% to 1.1%. Values higher than 1.1% could strengthen the Euro, but keep in mind that it is not a high impact indicator and sometimes its release goes unnoticed by traders. The United States announce their Oil Inventories at 3:30 pm GMT but this indicator is more likely to influence Oil price rather than our currency pairs; however, extreme values can produce volatility for our pair.


GBP/USD

The pair made a sharp turn exactly at the 1.6130 resistance and until evening, it traveled the distance back to the support located at 1.6040.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130109-Possibly-a-deciding-day-for-near-future-direction-Picture-02-1024x657.png

Technical Outlook

This is the third attempt over a short period at breaking the support at 1.6040. Usually this is indicative of high seller pressure and we favor a scenario where the 1.6040 level breaks and opens the door for lower prices. The Relative Strength Index is close to the oversold territory and a small move up is possible but not necessarily needed. Alternatively, the pair could remain between support and resistance for today�s trading session.

Fundamental Outlook

The only economic indicator that affects the British Pound directly is the UK Trade Balance, released at 09:30 am GMT, with a forecast of -9.0B from a previous of -9.5B. The trade balance is the difference between exports and imports and better than expected numbers are good for the analyzed currency. It tends to have a mild impact in the market but surprising numbers can create volatility. The pair will also be affected to some extent by the US events mentioned earlier.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4 year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view on the market.

[pasfx]

2013.01.10: Today�s movement � entirely driven by Bank Rates? (http://www.gdmfx.com/2013-01-10-todays-movement-entirely-driven-by-bank-rates/?ib=207)


EUR/USD

The pair moved into lower territory yesterday, validating our bearish scenario but the support at 1.3020 is still at a comfortable distance away especially since in the second part of the trading session, price had a hefty retracement to the up side, close to the down trend line drawn from this year�s high.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130110-Today-s-movement-entirely-driven-by-Bank-Rates-Picture-01-1024x657.png

Technical Outlook

Once again, we are biased towards the bear side and we believe that lower prices are still ahead for the pair. If price bounces lower from the trend line that we mentioned, a break of the support at 1.3020 is most probable. If the pair moves up, it will encounter some minor resistance at 1.3090 which coincides with the 50 period Simple Moving Average on an hourly chart.

Fundamental Outlook

Today�s headline is definitely the Euro Minimum Bid Rate announced at 12:45 pm GMT, with no change anticipated (0.75%) and followed by the always important ECB Press Conference 45 minutes later. As usual, Mario Draghi, the President of the European Central Bank will give opening remarks regarding the reasons that influenced the rate change or why they kept it unchanged and afterwards, he will answer journalists� questions. The ECB Press Conference usually creates volatility and the attitude of the President decides direction: if he is hawkish in his speech and answers, the Euro is likely to strengthen and on the other hand, a dovish attitude is detrimental to the single currency. The US Unemployment Claims come out at 1:30 pm GMT, but are likely to be overshadowed by the ECB Press Conference. A decrease is expected, from 372K to 361K.


GBP/USD

After briefly retracing into higher territory during the first part of yesterday�s trading session, the pair broke the support located at 1.6040 and at the moment price is heading up once again in what appears to be a re-test of the broken support.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130110-Today-s-movement-entirely-driven-by-Bank-Rates-Picture-02-1024x657.png

Technical Outlook

We expected this break of the support at 1.6040 and we consider it indicative of a continued move down, but if price doesn�t just re-test the broken level and instead returns above it, a ranging period could begin. However, we favor a scenario where the pair moves lower, but we must be aware of the underlying strength of the buyers. Today�s important fundamental events will probably give us an answer related to future direction.

Fundamental Outlook

The UK also releases today their Official Bank Rate, at 12:00 pm GMT and volatility will be created by the announcement even though no change is expected (0.50%). When the rate is changed the Monetary Policy Committee (MPC) releases a Rate Statement, outlining the economic and financial reasons that lead to the Rate modification. Usually if no change is made to the Official Bank Rate, the MPC Statement will not be released. Like we mentioned in our EUR/USD outlook, the US Unemployment Claims numbers are announced at 1:30 pm GMT and this fact will affect the GBP/USD pair as well.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4 year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view on the market.

[pasfx]

2013.01.11: �We have signs that fragmentation is being gradually repaired� � Mario Draghi, ECB President (http://www.gdmfx.com/2013-01-11-we-have-signs-that-fragmentation-is-being-gradually-repaired-mario-draghi-ecb-president/?ib=207)


EUR/USD

The statement above and other positive comments made by the European Central Bank President, Mario Draghi launched the pair into higher territory and resulted in a decisive break of both 1.3090 and 1.3170 resistance levels, exposing the strong resistance located at 1.3290. Yesterday�s technical outlook proved to be wrong, and the recent move confirms once more the fact that important fundamental events can overthrow any technical aspects.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130111-We-have-signs-that-fragmentation-is-being-gradually-repaired-Mario-Draghi-ECB-President-Picture-01-1024x657.png

Technical Outlook

After such a powerful move up, we consider that the bulls are in complete control of the market and they will push price even higher after a retracement. The Relative Strength Index is in extreme overbought territory at the moment so a retracement is likely to occur, generated also by some profit taking and closure of existing positions. After that potential retracement, price is likely to touch or even break the important resistance at 1.3290.

Fundamental Outlook

The Euro zone doesn�t announce any high impact indicators today but the momentum created by Draghi�s hawkish comments is likely to drive the pair higher. The United States release their Trade Balance at 1:30 pm GMT (the difference between exports and imports) and if the value is higher than the anticipated -41.1B (previous was -42.2B), we could experience some US Dollar strength.


GBP/USD

The pair was affected by Mario Draghi�s comments but not to the same extent as the EUR/USD was. However, the bulls controlled the market throughout the whole day and the US Dollar had little strength against the Pound sterling.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130111-We-have-signs-that-fragmentation-is-being-gradually-repaired-Mario-Draghi-ECB-President-Picture-02-1024x657.png

Technical Outlook

We expect the pair to break the resistance created at 1.6130 and head into the next level of resistance located at 1.6200. This period is characterized by high positive correlation between the two pairs and since the US Dollar is weak, the resistance levels lose strength. The Relative Strength Index is showing an overbought condition so we anticipate a small retracement before the pair can move higher.

Fundamental Outlook

The most important economic indicator that will affect the British Pound directly today is the Manufacturing Production released at 09:30 am GMT. An increase is anticipated, from the previous of � 1.3% to 0.6%. Higher values than expected usually strengthen the Pound and could drive the pair higher. The US Trade Balance that we mentioned earlier is likely to affect the GBP/USD pair as well.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4 year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view on the market.

[pasfx]

2013.01.14: Sky high


EUR/USD

The strong bullish momentum pushed the pair higher once more during Friday�s trading session and the resistance zone created around 1.3290 � 1.3300 was decisively broken. The US Trade Balance was announced at -48.7B, a lot worse than anticipated (-41.1B) and it definitely contributed to the weakening of the US Dollar.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130114-Sky-high-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/2013-01-14-sky-high/?ib=207)



GBP/USD

Friday was a day with no clear direction for the GBP/USD pair and although it broke the resistance located at 1.6130, during the day it hovered above and below it, finishing the week just a few pips above.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130114-Sky-high-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/2013-01-14-sky-high/?ib=207)

[pasfx]

2013.01.15: Bounce or Break?


EUR/USD

The resistance level of 1.3380 was touched during today�s trading session and briefly broken but the bulls didn�t have enough power to keep price above it and price slowly retraced under resistance. The Euro zone Industrial Production numbers came out lower than expected, at -0.3% from a forecast of 0.2% but we don�t attribute the small retracement to those worse than expected values.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130115-Bounce-or-Break-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/bounce-or-break/?ib=207)



GBP/USD

The two analyzed pairs seem to move out of correlation lately and yesterday we saw the GBP/USD fall significantly lower compared to the EUR/USD after failing to maintain itself above the level of 1.6130.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130115-Bounce-or-Break-Picture-02-1024x657.png


Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/bounce-or-break/?ib=207)

[pasfx]

2013.01.16 : A direction will finally be decided today?

EUR/USD

The Pair tried two times yesterday to break the resistance level of 1.3380 and failed, resulting in a move lower and even a clash late in the evening with the support zone created around 1.3290. Both the US Retail Sales and the Core Retail Sales came out better than expected, strengthening the US Dollar, while the Producer Price Index was lower than anticipated, although the difference was almost insignificant: actual -0.2% from an anticipated value of -0.1%.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130116-A-direction-will-finally-be-decided-today-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/a-direction-will-finally-be-decided-today/)


GBP/USD

The pair remained under the resistance level of 1.6130 and had a rather hard to predict movement throughout the day. UK�s CPI (Consumer Price Index) that was announced today remained unchanged (2.7%), as anticipated and that contributed probably to the sideways movement experienced.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130116-A-direction-will-finally-be-decided-today-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/a-direction-will-finally-be-decided-today/)

[pasfx]

2013.01.17 : Trading in Mixed Market

EUR/USD

The pair makes intraday trading difficult and shows no signals of a clear direction as yesterday it hovered almost all day around the S/R zone of 1.3290 � 1.3300. The US Core Consumer Price Index posted a small decrease from an expected value of 0.2% to 0.1% but not a lot of volatility was generated at the time of release and overall we had a slow, ranging and hard to trade session.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130117-Trading-in-mixed-markets-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/trading-in-mixed-markets/?ib=207)


GBP/USD

Throughout the day the pair had an overall bearish movement and even appeared to break the strong support formed at 1.6000. At the moment price action offers no clear indication about a clear break or a false one because the pair is hovering close to the mentioned S/R level.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130117-Trading-in-mixed-markets-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/trading-in-mixed-markets/?ib=207)

[pasfx]

2013.01.18 : Currency wars � Can a winner emerge today?

EUR/USD

The pair is finally showing some volatility and clear direction. The buyers that gathered around the support level of 1.3290 proved to be stronger than the sellers and they won the battle, at least for yesterday�s trading session.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130118-Currency-wars-Can-a-winner-emerge-today-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/currency-wars-can-a-winner-emerge-today/?ib=207)


GBP/USD

It seems like the correlation between the two pairs gets thinner and thinner as the GBP/USD pair moved significantly lower today and broke the support located at 1.6000.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130118-Currency-wars-Can-a-winner-emerge-today-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/currency-wars-can-a-winner-emerge-today/?ib=207)

[pasfx]

2013.01.21: CHANNEL BREAKOUT

EUR/USD

After the strong move up generated by Mario Draghi�s hawkish remarks the pair started to move inside a horizontal channel, forming a consolidation pattern. During Friday�s trading session the sellers controlled the market and brought price down for another touch of the lower boundary of the channel (1.3290).

http://www.gdmfx.com/wp-content/uploads/2013/01/20130121-Channel-breakout-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/2013-01-21-channel-breakout/?ib=207)


USD

After the break and re-test of the support level located at 1.6000, Throughout Friday�s trading session price moved strongly to the down side and the buyers seemed to be completely overpowered.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130121-Channel-breakout-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/2013-01-21-channel-breakout/?ib=207)

[pasfx]

2013.01.22: Slow Monday is gone. It�s time for some movement

EUR/USD

Throughout yesterday�s trading session neither the bulls nor the bears had control over the pair�s direction and it appeared almost like none of them truly wanted to obtain it. Price moved in a 30 pip range, the market seemed to completely lack any directional bias and a break of a channel border was out of the question.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130122-Slow-Monday-is-gone.-It-s-time-for-some-movement-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/slow-monday-is-gone-its-time-for-some-movement/?ib=207)


GBP/USD

Unlike the EUR/USD pair, the GBP/USD continued to move lower after a small retracement and touched the support at 1.5825 late in the London trading session.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130122-Slow-Monday-is-gone.-It-s-time-for-some-movement-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/slow-monday-is-gone-its-time-for-some-movement/?ib=207)

[pasfx]

2013.01.23 : The greenback failed again to break support. What�s next?

EUR/USD

We anticipated movement, but the roller � coaster that proved to be yesterday�s trading session was definitely a surprise. This kind of trading session is rarely seen and it is definitely not what we call normal, with price falling 100 pips, rising another hundred and then falling again.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130123-The-greenback-failed-again-to-break-support.-What-s-next-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-greenback-failed-again-to-break-support-whats-next/?ib=207)


GBP/USD
The pair had a more calm movement but it wasn�t an easy ride all the way as it had some swift turns that could trap traders.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130123-The-greenback-failed-again-to-break-support.-What-s-next-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-greenback-failed-again-to-break-support-whats-next/?ib=207)

[pasfx]

2013.01.24 : A breakout will clear the indecision

EUR/USD

During yesterday�s trading session, price action confirmed the down trend line that we talked about in our previous article, touching it for the third time and bouncing lower. However, the US Dollar again failed to break the strong support zone created between 1.3290 and 1.3270

http://www.gdmfx.com/wp-content/uploads/2013/01/20130124-A-breakout-will-clear-the-indecision-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/a-breakout-will-clear-the-indecision/?ib=207)


GBP/USD

The recent down trend has certainly slowed down and during yesterday�s trading session the pair tried again to break support but failed.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130124-A-breakout-will-clear-the-indecision-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/a-breakout-will-clear-the-indecision/?ib=207)

[pasfx]

2013.01.25 : The correlation between the two pairs is almost gone

EUR/USD

Finally the chart moved in a single direction for the most part of the day and the pair showed some decision throughout yesterday�s trading session, breaking the down trend line to the up side. Almost all the economic data released yesterday for the Euro zone posted better than anticipated numbers and this certainly helped the Euro in its upward path.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130125-The-correlation-between-the-two-pairs-is-almost-gone-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-correlation-between-the-two-pairs-is-almost-gone/?ib=207)


GBP/USD

It seems like the correlation between the two pairs is almost gone judging by yesterday�s totally different movement displayed on the charts and the break of support located at 1.5825.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130125-The-correlation-between-the-two-pairs-is-almost-gone-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-correlation-between-the-two-pairs-is-almost-gone/?ib=207)

[pasfx]

2013.01.28 : Slow Monday is here again

EUR/USD

As we mentioned numerous times before, usually Monday is a slow, ranging day, but last week finished with the bulls in control of the market and maybe the upwards momentum will be maintained throughout today�s trading session as well.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130128-Slow-Monday-is-here-again-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/slow-monday-is-here-again/?ib=207)


GBP/USD

The pair tried several times to break the support located at 1.5760 but it proved to be a task impossible to achieve and at the moment price is confined between support and resistance.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130128-Slow-Monday-is-here-again-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/slow-monday-is-here-again/?ib=207)

[pasfx]

2013.01.29 : A day influenced by Consumer Confidence economic indicators

EUR/USD

All the pair managed to do yesterday was to print a double top at 1.3477, accompanied by a lot of indecision candles. The United States posted mixed data, with the Core Durable Goods Orders coming out better than expected (actual 1.3%, forecast 0.8%) and the Pending Home Sales worse than expected (actual -4.3%, forecast 0.5%) and this contributed to the ranging movement experienced throughout the trading session.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130129-A-day-influenced-by-Consumer-Confidence-economic-indicators-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/a-day-influenced-by-consumer-confidence-economic-indicators/?ib=207)


GBP/USD

The horizontal channel that we talked about yesterday was broken and price moved significantly lower in spite of the fact that Mondays are usually slow days.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130129-A-day-influenced-by-Consumer-Confidence-economic-indicators-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/a-day-influenced-by-consumer-confidence-economic-indicators/?ib=207)

[pasfx]

2013.01.30 : All eyes on the FOMC Statement

EUR/USD

The double top formed at 1.3477 was broken during yesterday�s session and price continued its rally towards the resistance at 1.3500. The CB Consumer Confidence value came out worse than expected, weakening the US Dollar and contributing to the pair�s bullish movement.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130130-All-eyes-on-the-FOMC-Statement-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/all-eyes-on-the-fomc-statement/?ib=207)


GBP/USD

The pair had a single direction throughout the day and finally, after a pretty long time, it moved similar to the EUR/USD so we might see a restored positive correlation between the two pairs.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130130-All-eyes-on-the-FOMC-Statement-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/all-eyes-on-the-fomc-statement/?ib=207)

[pasfx]

2013.01.31 : Resistance is broken. What�s next?

EUR/USD

Yesterday all market moves were dictated by the bulls and the bears had almost no power and couldn�t do almost anything to stop the strong rally. The resistance at 1.3500 was clearly broken, followed by a re-test (seen on the 15 minute chart below) and a consequent move up. The US Federal Funds Rate remained unchanged and the FOMC Statement didn�t have the anticipated impact.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130131-Resistance-is-broken.-What-s-next-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/resistance-is-broken-whats-next/?ib=207)


GBP/USD

The pair had a bullish day as well, just like the EUR/USD and the correlation between the two pairs seems to be almost restored. The resistance at 1.5760 was broken early in the morning and price continued on a constant upward path, moving close to 1.5825.

http://www.gdmfx.com/wp-content/uploads/2013/01/20130131-Resistance-is-broken.-What-s-next-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/resistance-is-broken-whats-next/?ib=207)

[pasfx]

2013.02.01 : Today�s market mover: US Non-Farm Employment Change

EUR/USD

After a retracement into lower territory, which also cleared the overbought condition of the Relative Strength Index, the pair started to move higher again, breaking the previous peak but posing no threat to the resistance located at 1.3650. The US Unemployment Claims came out worse than expected, at 368K from an anticipated number of 362K, weakening the US Dollar and contributing to the pair�s bullish movement.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130201-Today-s-market-mover-US-Non-Farm-Employment-Change-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/todays-market-mover-us-non-farm-employment-change/?ib=207)


GBP/USD

Yesterday the pair had a mixed trading session during its first half but the British Pound ultimately managed to finish the day higher, breaking the resistance at 1.5825 and closing above it.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130201-Today-s-market-mover-US-Non-Farm-Employment-Change-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/todays-market-mover-us-non-farm-employment-change/?ib=207)

[pasfx]

2013.02.04 : Trend consolidation ahead?

EUR/USD

Friday was a mixed day for the EUR/USD pair, mostly due to the US Non � Farm Employment Change numbers that created a lot of volatility and a strong whipsaw, resulting in a difficult trading environment.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130204-Trend-consolidation-ahead-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook
(http://www.gdmfx.com/trend-consolidation-ahead/?ib=207)


GBP/USD

Unlike EUR/USD, the GBP/USD had a unidirectional trading session Friday and dropped violently for almost 200 pips, reigniting the downtrend

http://www.gdmfx.com/wp-content/uploads/2013/02/20130204-Trend-consolidation-ahead-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook
(http://www.gdmfx.com/trend-consolidation-ahead/?ib=207)

[pasfx]

2013.02.05 : Trading close to support

EUR/USD

The pair dropped almost the entire duration of yesterday�s trading session, breaking Friday�s low established at 1.3585 and even making a run for the strong support at 1.3500. Even the fact that the Spanish Unemployment numbers came out better than expected (132.1K from a predicted 150K) didn�t stop the bearish momentum so we might see a touch of 1.3500.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130205-Trading-close-to-support-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/trading-close-to-support/?ib=207)


GBP/USD

The two pairs seem almost negatively correlated because yesterday while EUR/USD was dropping, GBP/USD was rising at a steady pace, even touching in the evening the resistance level of 1.5760.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130205-Trading-close-to-support-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/trading-close-to-support/?ib=207)

[pasfx]

2013.02.06 : The two analyzed pairs move further apart

EUR/USD

After a brief dip below the support level at 1.3500, the pair quickly started to move towards the resistance at 1.3585 and tested it in the second part of yesterday�s trading session shifting the bias once more towards the bull side of the market.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130206-The-two-analyzed-pairs-move-further-apart-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-two-analyzed-pairs-move-further-apart/?ib=207)


GBP/USD

After a sharp rise and a break above the resistance at 1.5760 early yesterday morning, the pair dropped for the rest of the trading session and broke the support at 1.5675, resulting in another day controlled by the bears.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130206-The-two-analyzed-pairs-move-further-apart-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-two-analyzed-pairs-move-further-apart/?ib=207)

[pasfx]

2013.02.07 : Main event of the day � the ECB Press Conference

EUR/USD

After a prolonged stay on the resistance at 1.3585, price failed to break it and chose the only other possible direction: down towards the support at 1.3500. But it looked like that support was also too strong for price to break and probably the lack of any economic indicators was the reason why the pair moved between the two levels.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130207-Main-event-of-the-day-the-ECB-Press-Conference-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/main-event-of-the-day-the-ecb-press-conference/?ib=207)


GBP/USD

The pair had a slow and sideways movement, failing to break the resistance at 1.5675 or to make an attempt at touching the support at 1.5600 so just the first part of our scenario came true: the touch of resistance.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130207-Main-event-of-the-day-the-ECB-Press-Conference-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/main-event-of-the-day-the-ecb-press-conference/?ib=207)

[pasfx]

2013.02.08 : The Euro sell-off

EUR/USD

As the President of the European Central Bank spoke, the euro dropped for about 200 hundred pips. His opinion that a strong Euro could be detrimental for further economic recovery triggered the sell off and traders all around the world joined the ride down.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130208-The-Euro-sell-off-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-euro-sell-off/?ib=207)


GBP/USD

The Official Bank rate remained unchanged as expected and no major surprises came from the UK; as a result the pair moved mostly sideways at the time of the GBP Rate announcement and was not influenced by Draghi�s comments or the Euro sell off. The move up seen yesterday at 10:00 am GMT was triggered by the speech delivered in front of the Treasury Select Committee by the BoE Governor Designate (starting July 2013) Mark Carney.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130208-The-Euro-sell-off-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-euro-sell-off/?ib=207)

[pasfx]

2013.02.11 : A bear controlled market

EUR/USD

Friday was a slow day for the pair compared to the strong movement experienced Thursday but that is often experienced after a high volatility trading session as most traders exit their positions or decrease their exposure.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130211-A-bear-controlled-market-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/a-bear-controlled-market/?ib=207)


GBP/USD

The pair moved consistently higher throughout Friday�s trading session and retraced lower late in the evening after touching the resistance at 1.5825.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130211-A-bear-controlled-market-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/a-bear-controlled-market/?ib=207)

[pasfx]

2013.02.12 : Deciding market direction

EUR/USD

Yesterday was a slow day in terms of distance traveled by price and the main move of the day occurred in the second part of the London trading session when the pair made an attempt to break the resistance at 1.3400. The surge up was generated by Jens Weidmann�s (Head of the Bundesbank) comments: �Latest indicators don�t signal a serious overvaluation of the Euro despite its recent appreciation�.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130212-Deciding-market-direction-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/deciding-market-direction/?ib=207)


GBP/USD

The resistance created at 1.5825 proved to be too strong for the pair to break yesterday and price fell, touching the support located at 1.5675, resulting in a bear controlled trading session.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130212-Deciding-market-direction-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/deciding-market-direction/?ib=207)

[pasfx]

2013.02.13 : Bad luck for the US Dollar or for the Euro?

EUR/USD

Yesterday the pair broke the resistance located at 1.3400, showing us that underlying buyer strength is still present. Mario Draghi�s speech occurred at 2:30 pm GMT, not at 3:30 pm GMT as it was first announced but nonetheless, it didn�t create the expected volatility.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130213-Bad-luck-for-the-US-Dollar-or-for-the-Euro-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/bad-luck-for-the-us-dollar-or-for-the-euro/?ib=207)


GBP/USD

Yesterday�s Consumer Price Index anticipated value was revised from 2.8% to 2.7% and no change was posted today. The fact that the CPI value remained unchanged brought no volatility in the market at the time of the release but the pair moved above the resistance at 1.5630 which was broken early in the morning.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130213-Bad-luck-for-the-US-Dollar-or-for-the-Euro-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/bad-luck-for-the-us-dollar-or-for-the-euro/?ib=207)

[pasfx]

2013.02.14 : Big challenges ahead

EUR/USD

Overall the pair had a mixed trading session, moving higher to touch the level of 1.3500 and then dropping once the resistance was hit. The US Retail Sales came out as expected, with a value of 0.1% from the previous of 0.5% but the Dollar strength can be attributed to some extent to the better than expected Core retail Sales: actual 0.2%, forecast 0.1% and previous 0.3%.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130214-Big-challenges-ahead-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/big-challenges-ahead/?ib=207)


GBP/USD

The pair plunged today on the back of BoE Governor Mervyn King�s remarks about the economy facing �big challenges�. He also expressed his concern about the fact that growth is likely to be weak and these comments drove the pair below the support located at 1.5630.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130214-Big-challenges-ahead-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/big-challenges-ahead/?ib=207)

[pasfx]

2013.02.15 : The G20 meetings have all the ingredients for a volatile day

EUR/USD

The Euro posted a negative day, weakening against the US Dollar, a fact which resulted in a drop below the support at 1.3400 and even a new low could be seen late yesterday in the afternoon. The US Unemployment Claims came out lower than expected, strengthening the greenback and contributing to some extent to the Dollar strength.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130215-The-G20-meetings-have-all-the-ingredients-for-a-volatile-day-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-g20-meetings-have-all-the-ingredients-for-a-volatile-day/?ib=207)


GBP/USD

The GBP/USD bears were stronger than the bulls yesterday so the pair slowly grinded its way towards 1.5500 and even managed to go below it.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130215-The-G20-meetings-have-all-the-ingredients-for-a-volatile-day-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-g20-meetings-have-all-the-ingredients-for-a-volatile-day/?ib=207)

[pasfx]

2013.02.18 : The lack of economic data could generate sideways movement

EUR/USD

Friday was characterized by a mixed trading session and the pair moved up and down for the entire period, finishing the day almost at the opening price, a fact which resulted in a daily Doji candle, signifying indecision in the market.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130218-The-lack-of-economic-data-could-generate-sideways-movement-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-lack-of-economic-data-could-generate-sideways-movement/?ib=207)


GBP/USD
Friday�s UK Retail Sales numbers came out a lot worse than forecast, at -0.6% (expected number was 0.5%) and this negative surprise generated Pound weakness and drove the pair significantly lower. However until the end of the session, the GBP managed to regain some of the lost territory.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130218-The-lack-of-economic-data-could-generate-sideways-movement-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-lack-of-economic-data-could-generate-sideways-movement/?ib=207)

[pasfx]

2013.02.19 : Movement expected although another slow day in terms of economic data is ahead

EUR/USD

The lack of economic data combined with the fact that Mondays are usually slow days resulted in sideways price action and low volatility fro yesterday�s trading session. The US Banks were closed celebrating Presidents Day and even Mario Draghi�s speech couldn�t do much to speed things up.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130219-Movement-expected-although-another-slow-day-in-terms-of-economic-data-is-ahead-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/movement-expected-although-another-slow-day-in-terms-of-economic-data-is-ahead/?ib=207)


GBP/USD

The pair also had a trading session characterized by sideways movement and no important levels were decisively broken.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130219-Movement-expected-although-another-slow-day-in-terms-of-economic-data-is-ahead-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/movement-expected-although-another-slow-day-in-terms-of-economic-data-is-ahead/?ib=207)

[pasfx]

2013.02.20 : Both pairs are close to important S/R levels

EUR/USD

After a slow start, the pair started picking up some speed in the second part of yesterday�s trading session and broke to the up side the symmetrical triangle mentioned in our previous article. The German ZEW Economic Sentiment came out much better than expected, at 48.2 (the forecast was 35.3) and contributed to the strength exhibited yesterday by the Euro.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130220-Both-pairs-are-close-to-important-SR-levels-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/both-pairs-are-close-to-important-sr-levels/?ib=207)


GBP/USD

After a brief rise above the trend line seen on the hourly chart below, the pair resumed its bearish movement and returned under the mentioned down trend line.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130220-Both-pairs-are-close-to-important-SR-levels-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/both-pairs-are-close-to-important-sr-levels/?ib=207)

[pasfx]

2013.02.21 : Major historical support for the GBP/USD

EUR/USD

The pair encountered strong resistance at the 1.3430 level and dropped for almost the entire duration of yesterday�s trading session, returning below 1.3400 and under the down trend line seen on the four hour chart below.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130221-Major-historical-support-for-the-GBPUSD-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/major-historical-support-for-the-gbpusd/?ib=207)


GBP/USD

The bears had a huge victory yesterday, driving the pair about 170 pips lower and breaking important support levels on the back of more quantitative easing (QE) talks.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130221-Major-historical-support-for-the-GBPUSD-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/major-historical-support-for-the-gbpusd/?ib=207)

[pasfx]

2013.02.22 : Ending lower a week controlled by the bears

EUR/USD
Yesterday the long term upward trend line was broken by the pair on the back of massive bearish momentum generated by the FOMC Meetings and also by the Philly Fed Manufacturing Index which came out much worse than expected, at -12.5 (forecast was modified during the day from 0.7 to 1.1).

http://www.gdmfx.com/wp-content/uploads/2013/02/20130222-Ending-lower-a-week-controlled-by-the-bears-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/ending-lower-a-week-controlled-by-the-bears/?ib=207)


GBP/USD

The pair experienced a sell off during yesterday�s Asian session and the strong weekly support level of 1.5270 was decisively broken. This sell off was triggered by the US FOMC Meeting Minutes.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130222-Ending-lower-a-week-controlled-by-the-bears-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/ending-lower-a-week-controlled-by-the-bears/?ib=207)

[pasfx]

2013.02.25 : Major support is broken for both pairs. What�s next?

EUR/USD

We had an eventful week both from a technical point of view and a fundamental one. The pair chose a downward direction and managed to close below the strong support zone created between 1.3300 and 1.3270. Also the up trend line drawn from the 24th of July 2012 was decisively broken during last week and price is now sitting close to the support located at 1.3130.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130225-20130303-Major-support-is-broken-for-both-pairs.-What-s-next-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/major-support-is-broken-for-both-pairs-whats-next/?ib=207)


GBP/USD

Last week was a very important one for our pair because a major weekly support level was breached for the first time in a long period. Talks about increasing the Asset Purchase Facility weakened the Pound and the result was a drop of about 370 pips for the entire week.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130225-20130303-Major-support-is-broken-for-both-pairs.-What-s-next-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/major-support-is-broken-for-both-pairs-whats-next/?ib=207)

[pasfx]

2013.02.26 : Who is really in control of the market?

EUR/USD

The Italian Parliamentary Elections proved to be a major market mover. While in the first part of yesterday�s trading session we saw a very strong Euro, climbing up to 1.3318, in the second part of the day, the pair dropped almost all the way back to the opening price of the day.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130226-Who-is-really-in-control-of-the-market-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/who-is-really-in-control-of-the-market/?ib=207)


GBP/USD

The pair had a slow day comparative to the EUR/USD and opened with a big gap, which was eventually closed once price traveled the whole distance back to Friday�s close.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130226-Who-is-really-in-control-of-the-market-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/who-is-really-in-control-of-the-market/?ib=207)

[pasfx]

2013.02.27 : Higher moves will probably be reversed by strong resistance

EUR/USD

During the first part of yesterday�s trading session the pair tried to climb higher but encounter heavy resistance from the level of 1.3130. The US New Home Sales came out much better than expected, at 437K, strengthening the US Dollar and driving the pair lower.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130227-Higher-moves-will-probably-be-reversed-by-strong-resistance-Picture-01-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/higher-moves-will-probably-be-reversed-by-strong-resistance/?ib=207)


GBP/USD

Overall the pair moved in a narrow range compared to the moves seen during the last days and the Inflation Report Hearings failed to bring the anticipated volatility in the market.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130227-Higher-moves-will-probably-be-reversed-by-strong-resistance-Picture-02-1024x657.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/higher-moves-will-probably-be-reversed-by-strong-resistance/?ib=207)

[pasfx]

2013.02.28 : Picking up some speed

EUR/USD

Throughout the day the pair slowly climbed higher and managed to touch the recently broken level of 1.3130. Both the Core Durable Goods Order and the Pending Home Sales numbers came out better than anticipated but surprisingly, this didn’t do much for the greenback.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130228-Picking-up-some-speed-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/picking-up-some-speed/?ib=207)


GBP/USD

The pair moved slowly but steady on a bullish path for almost the entire day, not being affected too much by the US numbers which came out better than expected.

http://www.gdmfx.com/wp-content/uploads/2013/02/20130228-Picking-up-some-speed-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/picking-up-some-speed/?ib=207)

[pasfx]

2013.03.01 : Support levels are likely to be tested again

EUR/USD

For the entire duration of yesterday�s trading session the pair moved lower, returning below the level of 1.3130 which was previously broken to the up side for a brief period of time. The US Preliminary Gross Domestic Product came out lower than expected but it was still better than its previous value and this contributed to the overall negative sentiment surrounding the pair.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130301-Support-levels-are-likely-to-be-tested-again-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/support-levels-are-likely-to-be-tested-again/?ib=207)


GBP/USD

The pair had a generally bullish movement throughout yesterday�s trading session and moved higher to touch again the resistance created at 1.5217, but failed to break it, signaling that more down side movement will probably follow.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130301-Support-levels-are-likely-to-be-tested-again-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/support-levels-are-likely-to-be-tested-again/?ib=207)

[pasfx]

2013.03.04 : Slow start to a busy week

EUR/USD

After a brief climb above 1.3130, the bears took control of the market once more and drove the pair lower, for a touch of 1.3000. Friday�s trading session ended with a bounce up from the mentioned support level, probably triggered by profit taking and closing of existing short positions.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130304-Slow-start-to-a-busy-week-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/slow-start-to-a-busy-week/?ib=207)


GBP/USD

Friday the pair experienced another abrupt drop and came within 15 pips of touching the important support level located at 1.4970; the drop was triggered by the UK Manufacturing PMI numbers which were announced with worse than expected values.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130304-Slow-start-to-a-busy-week-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/slow-start-to-a-busy-week/?ib=207)

[pasfx]

2013.03.05 : Forex Trend Lines: Trend resumption or more sideways movement?


EUR/USD

As expected, yesterday�s trading session was a slow, ranging one. The Spanish Unemployment numbers came out better than expected, at (59.4K from a forecast of 77.5K) but even that failed to move the market much and price hovered around the level of 1.3000.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130305-Trend-resumption-or-more-sideways-movement-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-trend-lines-trend-resumption-or-more-sideways-movement/?ib=207)


GBP/USD

Slowly but steady the pair climbed yesterday after first moving lower, on the back of worse than expected Manufacturing PMI numbers (forecast 49.2 and actual 46.8).

http://www.gdmfx.com/wp-content/uploads/2013/03/20130305-Trend-resumption-or-more-sideways-movement-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-trend-lines-trend-resumption-or-more-sideways-movement/?ib=207)

[pasfx]

2013.03.06 : In a bear market, what goes up must come down


EUR/USD

Yesterday proved to be a mixed day, with price first climbing to 1.3075 and then dropping all the way back to the opening of the day. The US ISM Non Manufacturing Purchasing Managers� Index posted better than expected numbers (56.0 from a forecast of 55.2) and this contributed to the bearish movement seen in the second part of yesterday�s trading session.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130306-In-a-bear-market-what-goes-up-must-come-down-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/in-a-bear-market-what-goes-up-must-come-down/?ib=207)


GBP/USD

Just like EUR/USD, the pair first climbed higher and then dropped, coming close to the previous minor resistance now turned support, 1.5080.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130306-In-a-bear-market-what-goes-up-must-come-down-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/in-a-bear-market-what-goes-up-must-come-down/?ib=207)

[pasfx]

2013.03.07 : Today�s direction � heavily influenced by the Bank Interest Rates

EUR/USD

For almost the entire duration of yesterday�s trading session, the Euro lost ground against the US Dollar and moved on a bearish path for another encounter with the strong level located at 1.3000. The US ADP Non Farm Employment change came out with better than expected numbers, further strengthening the greenback and driving the pair lower.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/03/20130307-Today-s-direction-heavily-influenced-by-the-Bank-Rates-Picture-01-1024x660.png) (253 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/todays-direction-heavily-influenced-by-the-bank-interest-rates/?ib=207)


GBP/USD

Our pair broke the minor support located at 1.5080 and continued to move lower, resulting in a day totally controlled by the bears.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130307-Today-s-direction-heavily-influenced-by-the-Bank-Rates-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/todays-direction-heavily-influenced-by-the-bank-interest-rates/?ib=207)

[pasfx]

2013.03.07 : Today’s direction – heavily influenced by the Bank Interest Rates

EUR/USD

For almost the entire duration of yesterday’s trading session, the Euro lost ground against the US Dollar and moved on a bearish path for another encounter with the strong level located at 1.3000. The US ADP Non Farm Employment change came out with better than expected numbers, further strengthening the greenback and driving the pair lower.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/03/20130307-Today-s-direction-heavily-influenced-by-the-Bank-Rates-Picture-01-1024x660.png) (253 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/todays-direction-heavily-influenced-by-the-bank-interest-rates/?ib=207)


GBP/USD

Our pair broke the minor support located at 1.5080 and continued to move lower, resulting in a day totally controlled by the bears.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130307-Today-s-direction-heavily-influenced-by-the-Bank-Rates-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/todays-direction-heavily-influenced-by-the-bank-interest-rates/?ib=207)

[pasfx]

2013.03.08 : Forex Markets: End of the downtrend or just a corrective move

EUR/USD

The Euro Minimum Bid Rate remained unchanged at 0.75%, as expected, but Mario Draghi�s speech and his hawkish. This might effect the forex markets. It�s attitude heavily influenced the pair, pushing it higher through the minor resistance located at 1.3070 and closer to the strong resistance represented by 1.3160.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130308-End-of-the-downtrend-or-just-a-corrective-move-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-markets-end-of-the-downtrend-or-just-a-corrective-move/?ib=207)


GBP/USD

The GBP Official Bank Rate and the Asset Purchase Facility both remained unchanged but after price touched the major support at 1.4970, a strong move up started and correlation between our two analyzed pair had a big role to play.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130308-End-of-the-downtrend-or-just-a-corrective-move-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-markets-end-of-the-downtrend-or-just-a-corrective-move/?ib=207)

[pasfx]

2013.03.11 : No economic data + Monday = Ranging trading session

EUR/USD

Friday the bears’ domination was clear and the massive drop generated by better than expected US Non Farm Employment numbers proved that the downtrend is still in place. The forecast for the Non Farm Employment was 162K but the actual number came out surprisingly better than expected (236K) and strengthened the greenback substantially.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130311-No-economic-data-+-Monday-Ranging-trading-session-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/no-economic-data-monday-ranging-trading-session/?ib=207)


GBP/USD

As anticipated, the US Non Farm Employment numbers had a massive impact on this pair as well and US Dollar strength drove price through the important support level of 1.4970.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130311-No-economic-data-+-Monday-Ranging-trading-session-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/no-economic-data-monday-ranging-trading-session/?ib=207)

[pasfx]

2013.03.12 : Bears are likely to take back control

EUR/USD

Yesterday�s trading session was slow as we expected and the pair had a 60 pips range, slowly rallying, especially during the afternoon.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130312-Bears-are-likely-to-take-back-control-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/bears-are-likely-to-take-back-control/?ib=207)


GBP/USD

The pair had a stronger movement than EUR/USD and even managed to print a new lower low at 1.4865. However, compared to the movement seen throughout the latest period, the trading day was slow and lacked unidirectional movement for the most part.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130312-Bears-are-likely-to-take-back-control-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/bears-are-likely-to-take-back-control/?ib=207)

[pasfx]

2013.03.13 : The battle between Bulls and Bears still rages on

EUR/USD

Although in the first part of yesterday�s trading session the bulls attempted to take control of the market and almost succeeded, they encountered heavy resistance at the latest key point of the down trend, represented by the level of 1.3070. After a bounce from the mentioned level, price quickly turned and headed south, taking back much of the Euro�s gains obtained in the first part of the day.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130313-The-battle-between-Bulls-and-Bears-still-rages-on-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-battle-between-bulls-and-bears-still-rages-on/?ib=207)


GBP/USD

The UK Manufacturing Production numbers that came out early yesterday morning weakened the British Pound and drove the pair lower, breaking the support located at 1.4865. The previous value was 1.5% and was expected to decrease to 0.0% but the actual number came out with a surprisingly lower value of -1.5%.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130313-The-battle-between-Bulls-and-Bears-still-rages-on-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-battle-between-bulls-and-bears-still-rages-on/?ib=207)

[pasfx]

2013.03.14 : Technical Chart Analysis: Reinforcements arrive for the Bears

EUR/USD

Yesterday was another massive victory for the bears based on the technical chart analysis as they managed to take control of the market once more and drive price significantly lower. The US Core Retail Sales came out much better than expected, at 1.0% from a forecast of 0.5%. This was the trigger for the sell-off which resulted in a break of the key support located at 1.2966.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/03/20130314-Reinforcements-arrive-for-the-Bears-Picture-01-1024x660.png) (252 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/technical-chart-analysis-reinforcements-arrive-for-the-bears/?ib=207)


GBP/USD

The pair started yesterday�s trading session on a bullish path but after the release of the US Core Retail sales numbers, the greenback became substantially stronger and the pair started to move down.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130314-Reinforcements-arrive-for-the-Bears-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/technical-chart-analysis-reinforcements-arrive-for-the-bears/?ib=207)

[pasfx]

2013.03.15 : Forex Market Trends: Change of trend or just a corrective move?

EUR/USD

After printing a new lower low in the first part of yesterday�s trading session, the forex market trends reversed and headed furiously to the upside. This sharp turn has surprising and hard to predict since the US economic data that came out yesterday was better than expected and normally this strengthens the US Dollar.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130315-Change-of-trend-or-just-a-corrective-move-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-market-trends-change-of-trend-or-just-a-corrective-move/?ib=207)


GBP/USD

The pair had a bullish day as well and is now struggling to break the resistance at 1.5080 after breaking early yesterday morning the strong resistance at 1.4970.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130315-Change-of-trend-or-just-a-corrective-move-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-market-trends-change-of-trend-or-just-a-corrective-move/?ib=207)

[pasfx]

2013.03.18 : Bull or Bear Market: Will the Bulls continue their assault on the down trend?

EUR/USD

The bull or bear marketFriday’s trading session was characterized by US Dollar weakness against the Euro although the US Consumer Price Index came out with better than expected numbers and this usually strengthens the greenback. However the Consumer Sentiment survey released by the University of Michigan was worse than expected and this further weakened the Dollar.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130318-Will-the-Bulls-continue-their-assault-on-the-down-trend-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/bull-or-bear-market-will-the-bulls-continue-their-assault-on-the-down-trend/?ib=207)


GBP/USD

The pair moved on an upward path in the first part of Friday’s trading session but started to retrace, moving down again to test the recently broken resistance at 1.5080 which is now support once again.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/03/20130318-Will-the-Bulls-continue-their-assault-on-the-down-trend-Picture-02-1024x660.png) (251 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/bull-or-bear-market-will-the-bulls-continue-their-assault-on-the-down-trend/?ib=207)

[pasfx]

2013.03.19 : Technical Forex Analysis: Attempting to close the gap

EUR/USD

Surprisingly, price opened yesterday morning with a massive gap, almost 160 pips lower than Friday�s close according to the technical forex analysis. The Cyprus bailout crisis brought a lot of concern in the market and was the main reason for big difference between Friday�s close and Monday�s open. Gaps have a very high probability of being filled, meaning that usually after a gap lower like the one we saw, price rises to touch the level where the gap started.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130319-Attempting-to-close-the-gap-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/technical-forex-analysis-attempting-to-close-the-gap/?ib=207)


GBP/USD

The pair moved mostly sideways during yesterday�s trading session and failed to break the resistance formed at 1.5080 so no significant developments took place.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130319-Attempting-to-close-the-gap-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/technical-forex-analysis-attempting-to-close-the-gap/?ib=207)

[pasfx]

2013.03.20 : Forex Signal Analysis: The final push lower or renewed strength for the down trend?

EUR/USD

According to our forex signal analysis, yesterday�s rally was stopped by the resistance located at 1.3000 and the pair started to move lower although the German ZEW Economic Sentiment survey posted better than expected numbers (48.5 from a forecast of 47.9) and this would normally drive the pair higher.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130320-The-final-push-lower-or-renewed-strength-for-the-down-trend-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-signal-analysis-the-final-push-lower-or-renewed-strength-for-the-down-trend/?ib=207)


GBP/USD

The pair had another day characterized by sideways movement although the Producer Price Index came out at 3.2%, surprisingly better than the expected 1.7%. However, this failed to take price higher and was almost overlooked by market participants.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130320-The-final-push-lower-or-renewed-strength-for-the-down-trend-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-signal-analysis-the-final-push-lower-or-renewed-strength-for-the-down-trend/?ib=207)

[pasfx]

2013.03.21 : FX Technical Analysis: Deciding a direction

EUR/USD

According to the fx technical analysis, the break below 1.2880 proved to be a false one and the pair reversed soon after. The US Federal Funds Rate remained unchanged as anticipated and the Press Conference failed to deliver the expected volatility and strong movement, probably because the London session was closed at that time.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130321-Deciding-a-direction-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/fx-technical-analysis-deciding-a-direction/?ib=207)


GBP/USD

Yesterday�s trading was made difficult by a lot of whipsaws and reversals generated by the UK economic data. Both the resistance at 1.5140 and the support at 1.5080 were pierced but price failed to maintain a direction and it is now once again confined between the two levels.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130321-Deciding-a-direction-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/fx-technical-analysis-deciding-a-direction/?ib=207)

[pasfx]

2013.03.22 : Forex Day Trading: Finishing the week in a range-bound market?

EUR/USD

Yesterday�s forex day trading session didn�t bring any clear hints about direction like we expected because it failed to break 1.2880 and started to retrace higher after a bounce from the mentioned level, only to fall again towards 1.2880 later in the afternoon. The early morning European economic numbers were worse than expected and this triggered the initial drop into support but the US data was mixed, a fact that contributed to the move up seen later in the session.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130322-Finishing-the-week-in-a-range-bound-market-Forex-Day-Trading-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-day-trading-finishing-the-week-in-a-range-bound-market/?ib=207)


GBP/USD

The pair moved higher during yesterday�s trading session and it now appears to have broken out of the channel it was trading in. The UK Retail Sales came out at 2.1%, much better than the expected 0.5%, a fact which strongly contributed to the Pound�s strength.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130322-Finishing-the-week-in-a-range-bound-market-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-day-trading-finishing-the-week-in-a-range-bound-market/?ib=207)

[pasfx]

2013.03.25 : Forex Support and Resistance Levels: Confirming the break of resistance

EUR/USD

According to the analysis of the forex support and resistance levels, on friday the pair traveled almost the entire distance from the lower part of the horizontal channel (1.2880) to the upper part (1.3000) but failed to break out and we still consider we are trading a range bound market.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130325-Confirming-the-break-of-resistance-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-support-and-resistance-levels-confirming-the-break-of-resistance/?ib=207)


GBP/USD

The pair continued higher during Friday�s trading session and the week ended with price sitting on the important level of 1.5220. Last week�s better than expected UK Retail Sales definitely helped the Pound in its attempt to break the resistance at 1.5140.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130325-Confirming-the-break-of-resistance-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-support-and-resistance-levels-confirming-the-break-of-resistance/?ib=207)

[pasfx]

2013.03.26 : Financial Market News Today: End of the crisis? Not by far…

EUR/USD

According to the financial market news today, the Cyprus crisis was resolved, but maybe the best solution was not chosen: bank depositors with accounts larger than $100,000 are going to incur heavy losses on their accounts in order to help the Cypriot nation. This is unprecedented and opens the door for a lot of uncertainty in the future. In the first part of the trading session, the Euro strengthened because an agreement was reached, but soon market participants realized this doesn’t mean the end of the crisis, especially since the solution is such a controversial one.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130326-End-of-the-crisis-Not-by-far-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/financial-market-news-today-end-of-the-crisis-not-by-far/?ib=207)


GBP/USD

The pair moved lower yesterday, but the sell off was not as violent as the one seen in the EUR/USD pair. Although a move below 1.5220 and a touch of 1.5140 was experienced, future movement is still surrounded by uncertainty.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130326-End-of-the-crisis-Not-by-far-Financial-Market-News-Today-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/financial-market-news-today-end-of-the-crisis-not-by-far/?ib=207)

[pasfx]

2013.03.27 : Opening Range Breakout Trading

EUR/USD

If you are into the opening range breakout trading, the pair struggled yesterday to break the heavy resistance located at 1.2880 but failed in all its attempts. The same thing happened when price tried to break the newly formed support at 1.2843 and the result was a day with sideways and difficult to trade price action.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130327-Range-breakout-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/opening-range-breakout-trading/?ib=207)


GBP/USD

The pair remained under 1.5220 and attempted to break 1.5140, but that support proved too strong for price to break during yesterday�s trading session.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130327-Range-breakout-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/opening-range-breakout-trading/?ib=207)

[pasfx]

2013.03.28 : Daily Forex Technical Analysis: The new low signals renewed Bear control

EUR/USD

According to our daily forex technical analysis, the pair had a totally bearish day and the lower barrier of the range, represented by the minor support located at 1.2843 was broken early yesterday morning, a fact that triggered the drop towards 1.2750.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130328-The-new-low-signals-renewed-Bear-control-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/daily-forex-technical-analysis-the-new-low-signals-renewed-bear-control/?ib=207)


GBP/USD

The pair also had a bearish day yesterday and the drop was triggered by the worse than expected UK Current Account. The actual number was -14.0B while the forecast was -12.8B and this greatly weakened the British Pound.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130328-Daily-Forex-Technical-Analysis-The-new-low-signals-renewed-Bear-control-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/daily-forex-technical-analysis-the-new-low-signals-renewed-bear-control/?ib=207)

[pasfx]

2013.03.29 : Major International Banks: Almost all Major Banks are closed today. Thin volume is expected

EUR/USD

According to the Major International Banks, most major banks will be closed today. Yesterday the pair failed to break the low formed a day earlier and instead just managed to print a double bottom before moving higher for another touch of the resistance at 1.2843. The US Unemployment Claims numbers were worse than expected and this fact weakened the greenback, allowing the pair to move higher.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130329-Major-International-Banks-Major-Banks-are-closed-today.-Thin-volume-is-expected-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook
(http://www.gdmfx.com/major-international-banks-almost-all-major-banks-are-closed-today-thin-volume-is-expected/?ib=207)


GBP/USD

Yesterday price action totally disregarded the level of 1.5140, moving first above it, returning below and then once again above it. The trading session finished with price inside 1.5140 and 1.5220 but the day was a bullish one.

http://www.gdmfx.com/wp-content/uploads/2013/03/20130329-Major-Banks-are-closed-today.-Thin-volume-is-expected-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook
(http://www.gdmfx.com/major-international-banks-almost-all-major-banks-are-closed-today-thin-volume-is-expected/?ib=207)

[pasfx]

2013.04.01 : Foreign Exchange Market: Easter Monday

EUR/USD

The last day of the previous week of the foreign exchange market was characterized by very little activity due to the fact that almost all major banks were closed celebrating Good Friday. Although the US banks were active and some economic indicators were released, the pair moved in a narrow 40 pip range.

http://www.gdmfx.com/wp-content/uploads/2013/04/20130401-Easter-Monday-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/foreign-exchange-market-easter-monday/?ib=207)


GBP/USD

Similar to the other pair, the GBP/USD moved Friday in a 40 pip range and no major developments took place.

http://www.gdmfx.com/wp-content/uploads/2013/04/20130401-Easter-Monday-Foreign-Exchange-Market-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/foreign-exchange-market-easter-monday/?ib=207)

[pasfx]

2013.04.02 : Forex Trend Scanner: Overbought territory is likely to generate lower prices

EUR/USD

With the help of our forex trend scanner, surprisingly the pair had quite an active trading session during Easter Monday and the worse than expected US ISM Manufacturing PMI (actual 51.3 from a forecast of 54.2) weakened the US Dollar, allowing the Euro to push the pair higher.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130402-Forex-Trend-Scanner-Overbought-territory-is-likely-to-generate-lower-prices-Picture-01-1024x684.png) (306 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-trend-scanner-overbought-territory-is-likely-to-generate-lower-prices/?ib=207)


GBP/USD

The US Dollar weakened against the British Pound too, although not as much as it did against the Euro. Overall yesterday�s trading session was quiet and price slowly climbed above 1.5220.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130402-Overbought-territory-is-likely-to-generate-lower-prices-Picture-02-1024x684.png) (308 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-trend-scanner-overbought-territory-is-likely-to-generate-lower-prices/?ib=207)

[pasfx]

2013.04.03 : Japanese Candlestick Charts: Bearish control once again?

EUR/USD

According to the Japanese candlestick charts, the pair had an overall bearish day, retracing lower from the overbought area, but the movement was a slow one, with low volatility. However, price managed to return below 1.2843 and at the moment, it looks like the mentioned level is resistance once more.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130403-Japanese-Candlestick-Charts-Bearish-control-once-again-Picture-01-1024x684.png) (298 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/japanese-candlestick-charts-bearish-control-once-again/?ib=207)


GBP/USD

The pair had a major drop following a double top pattern at 1.5260. UK�s Manufacturing PMI was worse than expected, a fact which had a big influence on the pair�s sell-off.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130403-Japanese-Candlestick-Charts-Bearish-control-once-again-Picture-02-1024x684.png) (318 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/japanese-candlestick-charts-bearish-control-once-again/?ib=207)

[pasfx]

2013.04.04 : Daily Forex Review: Today�s major market mover. the ECB Press Conference

EUR/USD

According to our daily forex review, during yesterday�s trading session the pair bounced higher from the uptrend line we mentioned, with help from the better than expected Euro Zone Consumer Price Index (1.7% from the anticipated 1.6%) and worse than expected US ADP Non Farm Employment Change (158K from the anticipated 203K).

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130404-Today-s-major-market-mover-Daily-Forex-Review-Picture-01-1024x684.png) (302 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/daily-forex-review-todays-major-market-mover-the-ecb-press-conference/?ib=207)


GBP/USD

The pair continued its move lower and touched the support located at 1.5080 but that proved to be too strong to be broken and price reversed sharply.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130404-Today-s-major-market-mover-Daily-Forex-Review-Picture-02-1024x684.png) (304 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/daily-forex-review-todays-major-market-mover-the-ecb-press-conference/?ib=207)

[pasfx]

2013.04.05 : Forex Market Analysis: The calm after the storm?

EUR/USD

According to our forex market analysis, although the Euro interest rate remained unchanged, the market had a major whipsaw after Mario Draghi�s comments made at the Press Conference that followed the Rate announcement. But after a bounce from the 1.2750 level, the pair started to move unexpectedly higher, gaining more than it lost in the first place.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130405-Forex-Market-Analysis-The-calm-after-the-storm-Picture-01-1024x684.png) (299 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-market-analysis-the-calm-after-the-storm/?ib=207)


GBP/USD

Yesterday the pair dropped in the first part of the day and then rallied about 160 pips, creating a whipsaw and an overall difficult to trade environment. Both the Asset Purchase Facility and the Official Bank Rate remained unchanged but the pair was highly affected by the EUR/USD developments.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130405-Forex-Market-Analysis-The-calm-after-the-storm-Picture-02-1024x684.png) (307 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-market-analysis-the-calm-after-the-storm/?ib=207)

[pasfx]

2013.04.08 : Confirming the change of the forex trend

EUR/USD

Based on the forex trend, last week was very important for the pair and we might have experienced the end of the down trend. Although the Euro Interest Rate remained unchanged, the ECB Press Conference generated a massive spike down followed by an extremely bullish move. Friday�s worse than expected US Non Farm Employment numbers generated US Dollar weakness and consequently price moved higher for a touch of 1.3000.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130408-20130414-Confirming-the-change-of-forex-trend-Picture-01-1024x684.png) (299 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/confirming-the-change-of-the-forex-trend/?ib=207)


GBP/USD

The pair also rallied towards the end of last week on the back of US Dollar weakness generated by the worse than expected Non Farm Employment numbers. The correlation between the two analyzed pairs had an important role to play throughout the last week.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130408-20130414-Confirming-the-change-of-forex-trend-Picture-02-1024x684.png) (296 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/confirming-the-change-of-the-forex-trend/?ib=207)

[pasfx]

2013.04.09 : Forex Support and Resistance Levels: Minor resistance sits in front of the bulls

EUR/USD

As anticipated according to the forex support and resistance Levels, the pair failed to break yesterday the minor resistance established at 1.3040 and had a ranging trading session. The German Industrial Production numbers came out slightly better than anticipated (0.5% from a forecast of 0.4%) and this fact contributed to the bullish movement seen throughout the first part of the London session.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130409-Forex-Support-and-Resistance-Levels-Picture-01-1024x684.png) (304 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-support-and-resistance-levels-minor-resistance-sits-in-front-of-the-bulls/?ib=207)


GBP/USD

For almost the entire duration of yesterday�s trading session, price moved lower and touched the level of 1.5260 but failed to break it, confirming the fact that this level has now turned into support.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130409-Forex-Support-and-Resistance-Levels-Picture-02-1024x684.png) (296 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-support-and-resistance-levels-minor-resistance-sits-in-front-of-the-bulls/?ib=207)

[pasfx]

2013.04.10 : FX Foreign Exchange: Slowly but surely the downtrend comes to an end

EUR/USD

According to the analysis of the FX foreign exchange market, during yesterday�s trading session the minor resistance formed at 1.3040 was decisively broken and overall price moved on a bullish trajectory. The level of 1.3000 is now confirmed support once more given the fact that price tried to move below it but failed and started to move higher as a consequence.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130410-FX-Foreign-Exchange-Slowly-but-surely-the-downtrend-comes-to-an-end-Picture-01-1024x684.png) (304 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/fx-foreign-exchange-slowly-but-surely-the-downtrend-comes-to-an-end/?ib=207)


GBP/USD

Although the pair also had a bullish day, price did not manage to break the minor resistance formed at 1.5363 but the bounce higher after a touch of 1.5260 confirmed the fact that this level is now support. The UK Manufacturing Production was better than expected (0.8% from a forecast of 0.4%) and its value contributed to the Pound� strength.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130410-FX-Foreign-Exchange-Slowly-but-surely-the-downtrend-comes-to-an-end-Picture-02-1024x684.png) (296 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/fx-foreign-exchange-slowly-but-surely-the-downtrend-comes-to-an-end/?ib=207)

[pasfx]

2013.04.11 : Forex Trading Analysis: No major bearish signs are present � higher prices anticipated

EUR/USD

The FOMC Meeting Minutes were released much earlier than scheduled yesterday (scheduled at 6:00 pm GMT but released at 1:00 pm GMT) according to our forex trading analysis. In fact the Minutes were already received Tuesday, by about 100 Congress employees and employees of trade groups. A Fed spokesman told CNNMoney the reason behind this leak was a �human error� and it was �entirely accidental�. As a result the Federal Reserve decided to release them earlier for the large public too.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130411-Forex-Trading-Analysis-No-major-bearish-signs-are-present-Picture-01-1024x684.png) (292 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-trading-analysis-no-major-bearish-signs-are-present-higher-prices-anticipated/?ib=207)


GBP/USD

The pair had a slow trading session, characterized by a lack of clear direction and no support or resistance levels were broken.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130411-Forex-Trading-Analysis-No-major-bearish-signs-are-present-Picture-02-1024x684.png) (295 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-trading-analysis-no-major-bearish-signs-are-present-higher-prices-anticipated/?ib=207)

[pasfx]

2013.04.12 : Profit taking strategies might bring price lower

EUR/USD

The pair posted another strong rally yesterday and managed to come close to the resistance located at 1.3160 after a test of 1.3040 support, this shows that a lot of system has profit taking strategies in place. Although the US Unemployment Claims numbers came out better than expected (a fact that usually strengthens the US Dollar), the pair continued its overall bullish movement.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130412-Profit-taking-strategies-might-bring-price-lower-Picture-01-1024x684.png) (300 kB)

Technical Outlook

Fundamental Outlook
(http://www.gdmfx.com/profit-taking-strategies-might-bring-price-lower/?ib=207)


GBP/USD

The pair finally surpassed the level of 1.5363, moving up for almost the entire duration of yesterday�s trading session.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130412-Profit-taking-strategies-might-bring-price-lower-Picture-02-1024x684.png) (300 kB)

Technical Outlook

Fundamental Outlook
(http://www.gdmfx.com/profit-taking-strategies-might-bring-price-lower/?ib=207)

[pasfx]

2013.04.15 : Bouncing between forex Support and Resistance levels?

EUR/USD

During Friday�s trading session the price has been bouncing between forex support and resistance levels, the price had another encounter with the support located at 1.3040 and once more this level proved to be a strong one, rejecting price higher. However, the high of the day couldn�t be surpassed and the day ended close to where it started.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130415-Bouncing-between-forex-Support-and-Resistance-levels-Picture-01-1024x684.png) (271 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/bouncing-between-forex-support-and-resistance-levels/?ib=207)


GBP/USD

Although Friday the pair experienced a bearish day, completing a retracement into the 1.5340 support zone, we expect price to move higher during today�s trading session.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130415-Bouncing-between-forex-Support-and-Resistance-levels-Picture-02-1024x684.png) (294 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/bouncing-between-forex-support-and-resistance-levels/?ib=207)

[pasfx]

2013.04.16 : Price action Forex� Highly influenced by the Fundamental aspect

EUR/USD

Monday�s price action forex was characterized by indecision and slow movement. The pair dropped in close vicinity to the resistance located at 1.3040 before starting to climb again towards the opening price of the day. However, later in the day price fell again and touched 1.3040.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130416-Price-action-Forex-highly-influenced-by-the-Fundamental-aspect-Picture-01-1024x684.png) (270 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/price-action-forex-highly-influenced-by-the-fundamental-aspect/?ib=207)


GBP/USD

Unlike its sister pair, the GBP/USD moved lower for almost the entire duration of the day, breaking the support created at 1.5340 and heading towards the important level of 1.5260.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130416-Price-action-Forex-highly-influenced-by-the-Fundamental-aspect-Picture-02-1024x684.png) (303 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/price-action-forex-highly-influenced-by-the-fundamental-aspect/?ib=207)

[pasfx]

2013.04.17 : Foreign Exchange Rate: US Dollar � overpowered by both its counterparts

EUR/USD

Although the German ZEW Economic Sentiment came out much worse than expected and initially brought price into the support at 1.3040, the foreign exchange rate for the pair quickly rallied and made its way for the strong resistance at 1.3160. At the moment price sits comfortably above the mentioned resistance and the bulls are in control after such a strong move.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130417-US-Dollar-Foreign-Exchange-Rate-Picture-01-1024x684.png) (271 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/foreign-exchange-rate-us-dollar-overpowered-by-both-its-counterparts/?ib=207)


GBP/USD

Just like the sister pair, the GBP/USD climbed higher for almost the entire duration of the day. Price came in close vicinity to the strong 1.5260 level early yesterday morning but failed to touch it before starting to move higher.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130417-US-Dollar-Foreign-Exchange-Rate-Picture-02-1024x684.png) (301 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/foreign-exchange-rate-us-dollar-overpowered-by-both-its-counterparts/?ib=207)

[pasfx]

2013.04.18 : Currency Exchange Market: Uncertainty rules the market

EUR/USD

Unexpectedly the pair dropped yesterday the whole distance it gained during the previous day and the break above 1.3160 proved to be just a false move in the currency exchange market. Talks of a German downgrade are likely to have triggered this fall but that�s just rumor at the moment.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130418-Currency-Exchange-Market-Uncertainty-rules-the-market-Picture-01-1024x684.png) (272 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/currency-exchange-market-uncertainty-rules-the-market/?ib=207)



GBP/USD

The pair had almost the same behavior as the EUR/USD and dropped significantly lower. The important support located at 1.5260 was broken and even re-tested from below, confirming that it has now turned into resistance.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130418-Currency-Exchange-Market-Uncertainty-rules-the-market-Picture-02-1024x684.png) (301 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/currency-exchange-market-uncertainty-rules-the-market/?ib=207)

[pasfx]

2013.04.19 : Forex Market Blog: Range is the name of the game

EUR/USD

After the massive sell off seen Wednesday, yesterday�s price action retraced higher following a bounce from the support located at 1.3000 as stated in our forex markets blog. The Philly Fed Manufacturing Index came out much worse than expected, at 1.3 from a forecast of 2.7 and this fact weakened the US Dollar, driving the pair higher.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130419-Forex-Market-Blog-Range-is-the-name-of-the-game-Picture-01-1024x684.png) (267 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-market-blog-range-is-the-name-of-the-game/?ib=207)


GBP/USD

Yesterday the pair returned above the level of 1.5260 proving that the break below it was a false one. The UK Retail Sales came out exactly as expected, at -0.7% and did not have a major impact on the pair.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130419-Forex-Market-Blog-Range-is-the-name-of-the-game-Picture-02-1024x684.png) (292 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-market-blog-range-is-the-name-of-the-game/?ib=207)

[pasfx]

2013.04.22 : Grinding between forex Support and Resistance levels

EUR/USD

Friday�s trading session was one of the most difficult seen in the latest period, the pair is grinding between forex support and resistance levels. The pair moved higher and lower without a clear or predictable reason. The G20 meetings had a big effect on the pair and a lot of the erratic movement we talked about was generated by this event.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130422-Grinding-between-forex-Support-and-Resistance-levels-Picture-01-1024x684.png) (269 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/grinding-between-forex-support-and-resistance-levels/?ib=207)


GBP/USD

The pair bounced off the resistance located at 1.5365 and headed lower, in close vicinity to the 1.5220 support. The move up followed by the strong bounce lower shows that the pair is trading in a range and no trend is present.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130422-Grinding-between-forex-Support-and-Resistance-levels-Picture-02-1024x684.png) (291 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/grinding-between-forex-support-and-resistance-levels/?ib=207)

[pasfx]

2013.04.23 : If the �rules� of the ranging forex market are followed, the next move is bullish

EUR/USD

Yesterday the pair traded about 70 pips lower before shifting direction and moving higher after a bounce off the level of 1.3020 in the forex market. The US Existing Home Sales posted an unexpected drop and came out at 4.92M from the anticipated number of 5.02M.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130423-If-the-rules-of-the-ranging-market-are-followed-the-next-move-is-bullish-Picture-011-1024x684.png) (272 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/if-the-rules-of-the-ranging-forex-market-are-followed-the-next-move-is-bullish/?ib=207)


GBP/USD

After sitting on the support located at 1.5220 for a few hours, price finally decided to move up and this was the direction of the pair for most of the day. The US Dollar weakness generated by worse than expected Existing Home Sales numbers contributed to the bullish movement of the pair.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/20130423-If-the-rules-of-the-ranging-market-are-followed-the-next-move-is-bullish-Picture-021-1024x684.png) (290 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/if-the-rules-of-the-ranging-forex-market-are-followed-the-next-move-is-bullish/?ib=207)

[pasfx]

2013.04.24 : Forex Support and Resistance: Support is holding� the bulls are waiting in the shadows

EUR/USD

Forex support and resistance: Yesterday support was broken but this did not bring an end to the ranging period and price soon returned above 1.3000. The German Flash Manufacturing came out with a value of 47.9, worse than the anticipated 49.0. This value was the trigger for a weak Euro and the reason for the initial drop below 1.3000.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/2013.04.24-Support-is-holding%E2%80%A6-the-bulls-are-waiting-in-the-shadows-Picture-1-1024x684.png) (270 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-support-and-resistance-support-is-holding-the-bulls-are-waiting-in-the-shadows/?ib=207)


GBP/USD

Yesterday the pair had another failed attempt at breaking the strong support located at 1.5220. Higher prices soon followed but at the moment we are still trading a range-bound market.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/2013.04.24-Support-is-holding%E2%80%A6-the-bulls-are-waiting-in-the-shadows-Picture-2-1024x684.png) (303 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-support-and-resistance-support-is-holding-the-bulls-are-waiting-in-the-shadows/?ib=207)

[pasfx]

2013.04.25 : Forex Technical Analysis: There is still no clear control from either side.

EUR/USD

Forex Technical Analysis: The German Ifo Business Climate index came out with a value of 104.4, worse than the anticipated 106.4, a fact which briefly weakened the Euro but overall the trading session was sideways and characterized by a major spike generated by the event mentioned.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/2013.04.25-There-is-still-no-clear-control-from-either-side-Picture-1-1024x684.png) (275 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-there-is-still-no-clear-control-from-either-side/?ib=207)


GBP/USD

The trend line we spoke about rejected price higher but overall, yesterday�s trading session lacked volatility and clear direction.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/2013.04.25-There-is-still-no-clear-control-from-either-side-Picture-2-1024x684.png) (305 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-there-is-still-no-clear-control-from-either-side/?ib=207)

[pasfx]

2013.04.26 : Forex Technical Analysis: Ending the week outside the range?

EUR/USD

Forex Technical Analysis: The pair had another day characterized by a difficult trading environment and after climbing almost the entire session, it fell below the opening price of the day on the back of better than expected US Unemployment Claims numbers: actual 339K compared to the anticipated 352K. The major support located at 1.3000 proved too strong once again and the sudden 100 pip drop could not break it.

http://www.gdmfx.com/wp-content/uploads/2013/04/2013.04.26-Ending-the-week-outside-the-range-Picture-1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-ending-the-week-outside-the-range/?ib=207)


GBP/USD

The headline yesterday was the UK Gross Domestic Product value which came out at 0.3%, better than the anticipated 0.1%. The move generated by this increase was one of the strongest seen lately on our pair: almost 200 pips to the upside.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/2013.04.26-Ending-the-week-outside-the-range-Picture-2-1024x660.png) (260 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-ending-the-week-outside-the-range/?ib=207)

[pasfx]

2013.04.29 : Forex Technical Analysis: A slow start to a potentially wild week

EUR/USD

Forex Technical Analysis: Friday�s session was mostly ranging and the bears didn�t have enough power to continue the strong move they started Thursday. However, a weaker US Gross Domestic Product pushed the pair higher after another touch of support.

http://www.gdmfx.com/wp-content/uploads/2013/04/2013.04.29-A-slow-start-to-a-potentially-wild-week-Picture1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-a-slow-start-to-a-potentially-wild-week/?ib=207)


GBP/USD

Friday the pair managed to print a higher high on the back of a worse than expected US Advance Gross Domestic Product but the overall movement was a lot slower compared to the furious rally seen a day before.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/2013.04.29-A-slow-start-to-a-potentially-wild-week-Picture2-1024x660.png) (252 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-a-slow-start-to-a-potentially-wild-week/?ib=207)

[pasfx]

2013.04.30 : Forex Technical Analysis: Can the US Dollar take back control?

EUR/USD

Forex Technical Analysis: Yesterday the pair traded higher and with clear direction, without too many sharp turns. The US Pending Home Sales came out better than expected, at 1.5% from the estimated 1.1%, a fact which strengthened the US Dollar and stopped the pair from rising higher.

http://www.gdmfx.com/wp-content/uploads/2013/04/2013.04.30-Can-the-US-Dollar-take-back-control-Picture1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-can-the-us-dollar-take-back-control/?ib=207)


GBP/USD

The pair broke the resistance located at 1.5500 early in the morning but returned below it later in the day on the back of better than expected US Pending Home Sales numbers which strengthened the US Dollar.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/04/2013.04.30-Can-the-US-Dollar-take-back-control-Picture2-1024x660.png) (250 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-can-the-us-dollar-take-back-control/?ib=207)

[pasfx]

2013.05.01 : European Central Bank closed, celebrating Labor Day

EUR/USD

The European central bank is closed today, it will affect the trading volume during the European session. Yesterday the US Dollar weakened against most of its counterparts on the back of a report showing that the US business activity is slowing down. The pair climbed above the resistance located at 1.3130 and headed towards 1.3200 before retracing lower in the afternoon (GMT).

http://www.gdmfx.com/wp-content/uploads/2013/05/20130501-European-Central-Bank-closed-celebrating-Labor-Day-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/european-central-bank-closed-celebrating-labor-day/?ib=207)


GBP/USD

Just like the sister pair, GBP/USD had a bullish day and resistance levels were broken. Once the pair broke free of the 1.5500 level, it had a clear, unidirectional movement without any sharp turns.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/05/20130501-European-Central-Bank-closed-celebrating-Labor-Day-Picture-02-1024x660.png) (251 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/european-central-bank-closed-celebrating-labor-day/?ib=207)

[pasfx]

2013.05.03 : Forex Technical Analysis: The US Non Farm Employment Change � another market mover?

EUR/USD

Forex Technical Analysis: The European Central Bank decreased the Interest Rate yesterday and as expected, the pair dropped massively, although the initial move was bullish and trading was made difficult by erratic movement at the time of the release.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130503-The-US-Non-Farm-Employment-Change-%E2%80%93-another-market-mover-Picture1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-the-us-non-farm-employment-change-another-market-mover/?ib=207)


GBP/USD

The UK Construction PMI came out at 49.4, better than the anticipated 48.1, a fact which slightly strengthened the Pound in the first part of yesterday�s trading session but the important Euro related events drove the pair lower, for another touch of the strong support located at 1.5500.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130503-The-US-Non-Farm-Employment-Change-%E2%80%93-another-market-mover-Picture2.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-the-us-non-farm-employment-change-another-market-mover/?ib=207)

[pasfx]

2013.05.06 : Technical Forex Analysis: Taking a rest after Friday�s wild movement

EUR/USD

According to the technical forex analysis, friday was one of the most difficult to trade sessions experienced during the last period. The US Non Farm Employment Change numbers (which came out better than expected, at 165K from the estimated 146K) triggered a big drop but this was soon reversed and price created a �V� shaped pattern.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130506-Technical-forex-analysis-Taking-a-rest-after-Friday-s-wild-movement-Picture-01.docx-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/technical-forex-analysis-taking-a-rest-after-fridays-wild-movement/?ib=207)


GBP/USD

The pair had irregular movement Friday but the strong support and resistance levels located at 1.5500 and 1.5600 reversed price each time they were touched.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130506-Technical-forex-analysis-Taking-a-rest-after-Friday-s-wild-movement-Picture-02.docx-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/technical-forex-analysis-taking-a-rest-after-fridays-wild-movement/?ib=207)

[pasfx]

2013.05.07 : Forex Technical Analysis: Still confined between Support and Resistance?

EUR/USD

Forex Technical Analysis: The pair traded in a narrow range for the first part of yesterday�s session, touching 1.3130 but failing to break it to the up side. The most important move of the day however, came in the afternoon when the pair dropped substantially compared to the movement seen before.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130507-Still-confined-between-Support-and-Resistance-Pic1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-still-confined-between-support-and-resistance/?ib=207)


GBP/USD

The UK banks were closed yesterday, celebrating May Day but the pair moved approximately 80 pips lower from the opening of the day. The resistance located at 1.5600 was touched but no break occurred, as anticipated.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130507-Still-confined-between-Support-and-Resistance-Pic21-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-still-confined-between-support-and-resistance/?ib=207)

[pasfx]

2013.05.08 : Forex Technical Analysis: Neither the bulls nor the bears have enough power to decide direction

EUR/USD

Forex Technical Analysis: Yesterday the pair continued its erratic and difficult to trade movement by first climbing to touch the resistance located at 1.3130 on the back of much better than expected German Factory Orders actual (2.2% from the estimated -0.4%) and then sharply reversing and dropping the whole way down

http://www.gdmfx.com/wp-content/uploads/2013/05/20130508-Neither-the-bulls-nor-the-bears-have-enough-power-to-decide-direction-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-neither-the-bulls-nor-the-bears-have-enough-power-to-decide-direction/?ib=207)


GBP/USD

During yesterday�s trading session the pair broke the important support located at 1.5500 and had mostly unidirectional bearish movement.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130508-Neither-the-bulls-nor-the-bears-have-enough-power-to-decide-direction-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-neither-the-bulls-nor-the-bears-have-enough-power-to-decide-direction/?ib=207)

[pasfx]

2013.05.09 : Forex Technical Analysis: The day�s market mover � Bank of England�s Interest Rate Decision

EUR/USD

Forex Technical Analysis: Yesterday the bulls proved they do have enough power to take control over the market and drove the pair significantly higher, near 1.3200. The German Industrial Production numbers came out a lot better than expected, at 1.2% (estimated -0.1%) and this strengthened the Euro.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130509-The-day%E2%80%99s-market-mover-Bank-of-England%E2%80%99s-Interest-Rate-Decision-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-the-days-market-mover-bank-of-englands-interest-rate-decision/?ib=207)


GBP/USD

Yesterday the pair showed us that the break of 1.5500 was a false one and price soon returned above the mentioned level, heading towards the strong resistance situated at 1.5600.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130509-The-day%E2%80%99s-market-mover-Bank-of-England%E2%80%99s-Interest-Rate-Decision-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-the-days-market-mover-bank-of-englands-interest-rate-decision/?ib=207)

[pasfx]

2013.05.10 : Forex Technical Analysis: A calm end to a wild week?

EUR/USD

Forex Technical Analysis: The pair failed to hold on to the gains accumulated and yesterday we saw the bears in almost complete control of the market. The Euro weakness was also triggered by deepening concerns of a Euro Zone recession. Also the US Unemployment Claims were fewer than expected and this strengthened the US Dollar.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130510-A-calm-end-to-a-wild-week-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-a-calm-end-to-a-wild-week/?ib=207)


GBP/USD

The Bank of England did not change the Interest Rate but this was perceived as a bearish sign by market participants and as a result the pair experienced a sharp sell off and touched 1.5500.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130510-A-calm-end-to-a-wild-week-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-a-calm-end-to-a-wild-week/?ib=207)

[pasfx]

2013.05.13 : Forex Technical Analysis: The US Dollar is likely to drive both pairs lower.

EUR/USD

Forex Technical Analysis: Friday the bearish momentum continued, but the moves were slower than the ones experienced Thursday and late in the evening the pair even started to move higher. Overall however, the control definitely belonged to the bears.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130513-The-US-Dollar-is-likely-to-drive-both-pairs-lower-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-the-us-dollar-is-likely-to-drive-both-pairs-lower/?ib=207)


GBP/USD

Similar to the EUR/USD, the Cable dropped during Friday�s trading session and several resistance levels were broken, showing us the clear control of the bears.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130513-The-US-Dollar-is-likely-to-drive-both-pairs-lower-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-the-us-dollar-is-likely-to-drive-both-pairs-lower/?ib=207)

[pasfx]

2013.05.14 : Forex Technical Analysis: Bears still in control

EUR/USD

Forex Technical Analysis: Overall the pair had a ranging movement, attempting two more times to break the support located at 1.2955 but failing each time. The US Retail Sales showed some improvement and this briefly strengthened the US Dollar, driving the pair lower.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130514-Bears-still-in-control-pic11-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-bears-still-in-control/?ib=207)


GBP/USD

Yesterday the pair moved lower, breaking Friday�s low located at 1.5314 on the back of better than expected US Retail Sales which had a higher impact on the Cable than on the EUR/USD pair.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130514-Bears-still-in-control-pic21-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-bears-still-in-control/?ib=207)

[pasfx]

2013.05.15 : Forex Technical Analysis: Breaking out of the consolidation area

EUR/USD

Forex Technical Analysis: Yesterday was a mixed day for the pair and price first moved upwards, above 1.3000 and then moved below this level, touching 1.2955 but failing to break it. The German ZEW Economic Sentiment came out worse than expected, with a value of 36.4 (anticipated was 39.5) and this played a big role in the drop towards 1.2955.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130515-Breaking-out-of-the-consolidation-area-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-breaking-out-of-the-consolidation-area/?ib=207)


GBP/USD

Unlike its sister pair the GBP/USD moved almost all day in a single direction, heading lower towards the major support located at 1.5220.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130515-Breaking-out-of-the-consolidation-area-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-breaking-out-of-the-consolidation-area/?ib=207)

[pasfx]

2013.05.16 : Forex Technical Analysis: Can the US Dollar continue its clear domination?

EUR/USD

Forex Technical Analysis: The German and the Euro Zone Gross Domestic Products both came out worse than expected, and this generated more Euro weakness, driving the pair lower for almost the entire duration of yesterday�s trading session.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130516-Can-the-US-Dollar-continue-its-clear-domination-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-can-the-us-dollar-continue-its-clear-domination/?ib=207)


GBP/USD

The pair struggled to move lower but encountered heavy support at 1.5220 and failed to break it decisively. The Bank of England Inflation Report and Mervyn King�s press conference briefly strengthened the Pound and drove the pair higher.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/05/20130516-Can-the-US-Dollar-continue-its-clear-domination-pic2-1024x660.png) (250 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-can-the-us-dollar-continue-its-clear-domination/?ib=207)

[pasfx]

2013.05.17 : Forex Technical Analysis: Finishing the week below support?

EUR/USD

Forex Technical Analysis: Yesterday�s economic indicators weakened the US Dollar and as a result the pair retraced higher, above 1.2880. The US Core Consumer Price Index came out lower than expected, with a value of 0.1% (estimated was 0.2%). The Philly Fed Manufacturing Index contributed to the greenback�s weakness, posting a value of -5.2 from the anticipated 2.5.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130517-Finishing-the-week-below-support-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-finishing-the-week-below-support/?ib=207)


GBP/USD

The Cable also climbed on the back of US Dollar weakness generated by the economic events mentioned earlier and moved above 1.5220.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130517-Finishing-the-week-below-support-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-finishing-the-week-below-support/?ib=207)

[pasfx]

2013.05.20 : Forex Technical Analysis: Major Banks closed. Irregular movement is expected.

EUR/USD

Forex Technical Analysis: During Friday�s trading session the pair reversed all previous gains and resumed its downward path on the back of better than expected values for the University of Michigan Consumer Sentiment survey (anticipated 77.9 and actual 83.7).

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/05/20130520-Major-Banks-closed.-Irregular-movement-is-expected.-pic1-1024x682.png) (280 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-major-banks-closed-irregular-movement-is-expected/?ib=207)


GBP/USD

Although the pair moved above the level of 1.5220, Friday it returned below it and almost the entire trading session was dominated by the US Dollar due to the strength generated by the survey we already mentioned.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/05/20130520-Major-Banks-closed.-Irregular-movement-is-expected.-pic21-1024x682.png) (282 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-major-banks-closed-irregular-movement-is-expected/?ib=207)

[pasfx]

2013.05.21 : Forex Technical Analysis: The retracement higher is completed. Lower prices are expected.

EUR/USD

Forex Technical Analysis: For almost the entire duration of yesterday�s trading session the pair moved higher, touching two times the important level of 1.2880 and even moving above it on the second attempt. The movement was slow but steady.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130521-The-retracement-higher-is-completed.-Lower-prices-are-expected.-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-the-retracement-higher-is-completed-lower-prices-are-expected/?ib=207)


GBP/USD

Similar to the EUR/USD, the Cable traded higher for almost the entire Monday, completing a correction pattern to the up side.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130521-The-retracement-higher-is-completed.-Lower-prices-are-expected.-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-the-retracement-higher-is-completed-lower-prices-are-expected/?ib=207)

[pasfx]

2013.05.22 : Forex Technical Analysis: Today�s headline � Ben Bernanke�s testimony in Washington DC.

EUR/USD

Forex Technical Analysis: In the first part of yesterday�s trading session the pair appeared to break below the level of 1.2880 but the comments made by James Bullard (FOMC member) about continuing the US stimulus package sent price above the mentioned level.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130522-Today%E2%80%99s-headline-%E2%80%93-Ben-Bernanke%E2%80%99s-testimony-in-Washington-DC.-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-todays-headline-ben-bernankes-testimony-in-washington-dc/?ib=207)


GBP/USD

The first part of yesterday�s trading session was characterized by movement into lower territory, generated by the worse than expected UK Consumer Price Index (actual 2.4% and anticipated 2.6%) which weakened the Pound.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130522-Today%E2%80%99s-headline-%E2%80%93-Ben-Bernanke%E2%80%99s-testimony-in-Washington-DC.-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-todays-headline-ben-bernankes-testimony-in-washington-dc/?ib=207)

[pasfx]

2013.05.23 : Forex Technical Analysis: Another day headlined by an important speech.

EUR/USD

Forex Technical Analysis: The speech of Fed Chairman Ben Bernanke produced the anticipated volatility and brought the pair below 1.2880 after first rising to touch the important resistance located at 1.3000. The Dollar started to strengthen on the back of Ben Bernanke�s comments suggesting a potential reduction of asset purchases in the near future if the economy will show signs of sustained improvement.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130523-Another-day-headlined-by-an-important-speech-pic1-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-another-day-headlined-by-an-important-speech/?ib=207)


GBP/USD

The Cable also fell on the back of Ben Bernanke�s comments, after a brief rally. Almost the entire day has been controlled by the bears and the pair reached the predicted target of 1.5040.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130523-Another-day-headlined-by-an-important-speech-pic21-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-another-day-headlined-by-an-important-speech/?ib=207)

[pasfx]

Dopost..:repost:

[pasfx]

2013.05.24 : The Forex Market: Is the bears� power starting to fade?

EUR/USD

After the massive drop experienced Wednesday in the forex market explained, yesterday the pair climbed above 1.2880 and even touched the resistance located at 1.2955. The German Manufacturing Purchasing Managers� Index came out with better values than expected and this helped the Euro to drive the pair higher but Dollar weakness had a big role in the climb.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130524-The-forex-market-explained-The-bears-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-is-the-bears-power-starting-to-fade/?ib=207)


GBP/USD

The greenback weakened against the Pound as well and the pair bounced higher after touching the level of 1.5040. The Second Estimate GDP came out with the anticipated value of 0.3% and it didn�t have a great impact on the pair as the rise was triggered by Dollar weakness, not Pound strength.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130524-The-forex-market-explained-The-bears-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-is-the-bears-power-starting-to-fade/?ib=207)

[pasfx]

2013.05.27 : The Forex Market: Two Bank Holidays translate into irregular movement.

EUR/USD

The Forex Market: Friday�s better than expected German Ifo Business Climate strengthened the Euro and drove the pair higher but in the second part of the trading session, higher than anticipated values for the US Core Durable Goods Orders took the pair lower, nullifying all the previous gains.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130527-Two-Bank-Holidays-translate-into-irregular-movement.-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-two-bank-holidays-translate-into-irregular-movement/?ib=207)


GBP/USD

For almost the entire duration of Friday�s trading session the pair slowly grinded higher, but overall it lacked momentum and the entire day had a 70 pip range.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130527-Two-Bank-Holidays-translate-into-irregular-movement.-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-two-bank-holidays-translate-into-irregular-movement/?ib=207)

[pasfx]

2013.05.28 : The Forex Market: Resuming normal movement after an uneventful Monday.

EUR/USD

The Forex Market: Just as anticipated, the fact that both the UK and US Banks were closed yesterday generated a lack of volatility and almost sideways movement.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130528-Resuming-normal-movement-after-an-uneventful-Monday.-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-resuming-normal-movement-after-an-uneventful-monday/?ib=207)


GBP/USD

Although the Cable moved slightly stronger than the EUR/USD, the two Bank holidays affected it as well. However, the trading session was dominated by the bears who managed to take price lower.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130528-Resuming-normal-movement-after-an-uneventful-Monday.-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-resuming-normal-movement-after-an-uneventful-monday/?ib=207)

[pasfx]

2013.05.29 : The Forex Market: A day which is likely to be a trend-setter.

EUR/USD

The Forex Market: The US Consumer Confidence announced at 2:00 pm GMT came out with a better than expected value (76.2 from an estimated 70.7); this generated US Dollar strength and consequently, the pair started to move on a bearish path.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130529-A-day-which-is-likely-to-be-a-trend-setter.-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-day-which-is-likely-to-be-a-trend-setter/?ib=207)


GBP/USD

Just as the EUR/USD, the pair moved lower for almost the entire duration of yesterday�s trading session on the back of better than expected US Consumer Confidence and the important support at 1.5040 was touched.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130529-A-day-which-is-likely-to-be-a-trend-setter.-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-day-which-is-likely-to-be-a-trend-setter/?ib=207)

[pasfx]

2013.05.30 : The Forex Market: US events hold today�s headlines.

EUR/USD

The Forex Market: Yesterday at 12:00 pm GMT the German Preliminary Consumer Price Index was released and the increase was higher than anticipated: 0.4% from an estimated 0.2%. This strengthened the Euro, took the pair higher and almost the entire day was controlled by the bulls.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130530-US-events-hold-today%E2%80%99s-headlines.-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-us-events-hold-todays-headlines/?ib=207)


GBP/USD

The British Pound briefly weakened yesterday when the CBI Realized Sales came out with a lower than anticipated value but the fall was quickly reversed once the US Dollar started to show signs of weakness.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130530-US-events-hold-today%E2%80%99s-headlines.-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-us-events-hold-todays-headlines/?ib=207)

[pasfx]

2013.05.31 : The Forex Market: A shift of power might be ahead.

EUR/USD

The Forex Market: Yesterday’s trading session was entirely driven by the US data and surprisingly, all there important economic indicators came out worse than expected, triggering US Dollar weakness and a consequent move up for our pair.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130531-A-shift-of-power-might-be-ahead.-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-forex-market-a-shift-of-power-might-be-ahead/?ib=207)


GBP/USD

The greenback’s weakness drove the pair higher and the resistance located at 1.5165 was easily broken but 1.5220 is still holding and might reject price lower.

http://www.gdmfx.com/wp-content/uploads/2013/05/20130531-A-shift-of-power-might-be-ahead.-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-forex-market-a-shift-of-power-might-be-ahead/?ib=207)

[pasfx]

2013.06.03 : The Forex Market: Locked between support and resistance?

EUR/USD

The Forex Market: During Friday�s trading session the pair retraced lower, almost paring all the previous gains, on the back of better than expected numbers for the Chicago Purchasing Managers� Index which showed an increase from the anticipated 50.3 to 58.7 and strengthened the greenback.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/06/20130603-Locked-between-support-and-resistance-pic1-1024x706.png) (269 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-locked-between-support-and-resistance/?ib=207)


GBP/USD

Friday the pair made another attempt at breaking the resistance located at 1.5220 but failed and the result was a move lower towards 1.5145.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/06/20130603-Locked-between-support-and-resistance-pic2-1024x706.png) (256 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-locked-between-support-and-resistance/?ib=207)

[pasfx]

2013.06.04 : The Forex Market: What will be the Bears� answer to yesterday�s rally?

EUR/USD

The Forex Market: Yesterday�s trading session was unexpectedly volatile and we experienced surprisingly strong moves for a Monday. The day started in a normal fashion, but the US Manufacturing Purchasing Managers� Index posted a lower value than the anticipated one (estimated was 50.6 and actual was 49.0) and this triggered US Dollar weakness.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/06/20130604-What-will-be-the-Bears%E2%80%99-answer-to-yesterday%E2%80%99s-rally-pic1-1024x706.png) (273 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-what-will-be-the-bears-answer-to-yesterdays-rally/?ib=207)


GBP/USD

The worse than expected US data coupled with a better than expected UK Manufacturing PMI generated a massive rally which easily broke through the important resistance located at 1.5220.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/06/20130604-What-will-be-the-Bears%E2%80%99-answer-to-yesterday%E2%80%99s-rally-pic2-1024x706.png) (268 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-what-will-be-the-bears-answer-to-yesterdays-rally/?ib=207)

[pasfx]

2013.06.05 : The Forex Market: Looking for new highs?

EUR/USD

The Forex Market: The retracement lower we anticipated occurred during yesterday�s trading session but overall the day was characterized by slow and mostly sideways movement. The US Trade Balance came out at -40.3B, better than the estimated -41.1B but the release failed to produce a high impact.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/06/20130605-Looking-for-new-highs-pic1-1024x706.png) (264 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-looking-for-new-highs/?ib=207)


GBP/USD

UK�s Construction Purchasing Managers� Index came out better than expected (estimated 49.7 and actual 50.8) but the pair couldn�t continue its bullish path and slowly retraced lower.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/06/20130605-Looking-for-new-highs-pic2-1024x706.png) (256 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-looking-for-new-highs/?ib=207)

[pasfx]

2013.06.06 : The Forex Market: The most eagerly awaited day of the week is finally here.

EUR/USD

The Forex Market: Surprisingly, the last two days have been very slow and price traded in a narrow range between 1.3055 and 1.3100. Although the US ADP Non-Farm Employment numbers came out much worse than anticipated, at 135K (estimated number was 171K), the event failed to significantly move the stubborn pair.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130606-The-most-eagerly-awaited-day-of-the-week-is-finally-here-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-the-most-eagerly-awaited-day-of-the-week-is-finally-here/?ib=207)


GBP/USD

The Cable managed yesterday to move above 1.5380 on the back of better than expected numbers for the UK Services PMI (actual 54.9 and anticipated 53.1); bad US data also weakened the greenback and this made the rise easier.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130606-The-most-eagerly-awaited-day-of-the-week-is-finally-here-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-the-most-eagerly-awaited-day-of-the-week-is-finally-here/?ib=207)

[candle7779]

Komisi Eropa dan IMF Saling Tuding Soal Penanganan Krisis Yunani

Dana Moneter Internasional (IMF) mengakui kegagalan yang signifikan dalam penyelamatan pertama Yunani (2010), hingga memaksa bailout kedua lebih besar dan meninggalkan negara itu dalam resesi mendalam.

IMF mengatakan, ada beberapa masalah koordinasi dengan Komisi Eropa dan Bank Sentral Eropa (ECB), mitra troika dalam program 110 miliar euro (USD144 miliar), di mana mereka tidak memiliki keahlian dan tujuan harmonis.
rincian (http://www.accentforex.com/en/)

[pasfx]

2013.06.07 : The Forex Market: The last day of a surprising week.

EUR/USD

The Forex Market: Although the benchmark rate remained unchanged at 0.50%, ECB President Mario Draghi seemed much more optimistic about an economic recovery than he did during his last interest rate Press Conference and the effect was a massive rally which broke through the important resistance located at 1.3200.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130607-The-last-day-of-a-surprising-week-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-the-last-day-of-a-surprising-week/?ib=207)


GBP/USD

The UK Official Bank Rate remained unchanged and so did the Asset Purchase Facility, but correlation between the two pairs proved to be strong and the GBP/USD also moved on a strong bullish path, similar to the sister pair, EUR/USD.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130607-The-last-day-of-a-surprising-week-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-the-last-day-of-a-surprising-week/?ib=207)

[pasfx]

2013.06.10 : The Forex Market: Slow start of the week.

EUR/USD

The Forex Market: Friday�s better than expected US Non Farm Employment Change numbers (actual 175K and expected 167K) managed to strengthen the greenback but the tremendous buyer pressure present in the market prevented the pair from dropping substantially.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130610-Slow-start-of-the-week-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-slow-start-of-the-week/?ib=207)


GBP/USD

The US Dollar strength generated by the US Employment data affected directly the Cable and as a result the pair moved below 1.5600, touching the support at 1.5490.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130610-Slow-start-of-the-week-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-slow-start-of-the-week/?ib=207)

[pasfx]

2013.06.11 : The Forex Market: A clash with Resistance is imminent.

EUR/USD

The Forex Market: The French Industrial Production numbers came out with a major and surprising increase: the actual value was 2.2% while the forecast was just 0.2%. However, the impact of this indicator is a mild one and as we saw, its release did not strengthen the Euro substantially and overall the trading session was a ranging one.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130611-A-clash-with-Resistance-is-imminent-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-clash-with-resistance-is-imminent/?ib=207)


GBP/USD

The pair had a ranging trading session as well and touched 1.5490 again but failed to move substantially in one direction.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130611-A-clash-with-Resistance-is-imminent-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-clash-with-resistance-is-imminent/?ib=207)

[candle7779]

EURUSD:
Totally there is expected bearish movement to the level 1,3180. If the price breaks the resistance level 1,3298 the bullish movement will start to the level 1,3350.
http://www.accentforex.com/en/ ([/FONT)[FONT=Arial]]details

[pasfx]

2013.06.12 : The Forex Market: Confirming a breakout scenario?

EUR/USD

The Forex Market: Yesterday�s trading session was a mixed one and price failed to break the resistance located at 1.3320 although it came very close to it. No important financial or economic events took place and price remained confined in a range with a slightly bullish bias.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130612-Confirming-a-breakout-scenario-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-confirming-a-breakout-scenario/?ib=207)


GBP/USD

UK�s Manufacturing Production numbers came out worse than expected, at -0.2% from the anticipated 0.0%, but the event didn�t generate strong volatility, probably because the difference between the anticipated number and the actual one was very small.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130612-Confirming-a-breakout-scenario-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-confirming-a-breakout-scenario/?ib=207)

[pasfx]

2013.06.13 : Technical analysis indicators are still in overbought territory

EUR/USD

According to our technical analysis indicators, during yesterday�s trading session the pair managed to climb above the resistance located at 1.3320, a rally generated in part by the better than expected Euro Zone Industrial Production numbers: actual 0.4% and anticipated -0.2%.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130613-Technical-analysis-indicators-are-still-in-overbought-territory-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/technical-analysis-indicators-are-still-in-overbought-territory/?ib=207)


GBP/USD

Yesterday the UK Claimant Count Change posted a decrease from the estimated -6.8K to -8.6K, a beneficial fact for the British Pound and the result was a trading session dominated by the bulls.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130613-Technical-analysis-indicators-are-still-in-overbought-territory-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/technical-analysis-indicators-are-still-in-overbought-territory/?ib=207)

[pasfx]

2013.06.14 : Forex Profits taking may generate lower prices

EUR/USD

After a strong forex profits taking, the pair yesterday came very close to the resistance located at 1.3400 but failed to break or even touch it and retraced lower as a result. The US Retail Sales numbers came out with a value of 0.6, better than the estimated 0.4%

http://www.gdmfx.com/wp-content/uploads/2013/06/20130614-Forex-Profits-taking-may-generate-lower-prices-Picture-01-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-profits-taking-may-generate-lower-prices/?ib=207)


GBP/USD

Overall yesterday�s trading session was mixed, with price trying to find a clear direction but failing to do so. The US data did not have a great impact on the pair.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130614-Forex-Profits-taking-may-generate-lower-prices-Picture-02-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-profits-taking-may-generate-lower-prices/?ib=207)

[pasfx]

2013.06.17 : The Forex Market: Testing support levels?

EUR/USD

The Forex Market: During Friday�s trading session, after a long time the sellers managed to close price lower than it opened and this resulted in a daily bearish candle, just the third this month. The move lower was mostly based on profit taking and closing of long positions by the bulls.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130617-Testing-support-levels-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-testing-support-levels/?ib=207)


GBP/USD

Although in the first part of Friday�s trading session the sellers seemed in complete control, by the end of the day the bulls managed to bring price back up towards the opening of the day.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130617-Testing-support-levels-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-testing-support-levels/?ib=207)

[pasfx]

2013.06.18 : The Forex Market: A move lower is still expected.

EUR/USD

The Forex Market: The movement was choppy throughout yesterday�s trading session and the pair didn�t seem to find a clear direction. The G8 Meetings did not bring any major changes to the trading environment and overall price action was confined within a range.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130618-A-move-lower-is-still-expected-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-move-lower-is-still-expected/?ib=207)


GBP/USD

Yesterday�s trading session lacked clear control form either the bulls or the bears and the pair ranged above and below 1.5720.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130618-A-move-lower-is-still-expected-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-move-lower-is-still-expected/?ib=207)

[pasfx]

2013.06.19 : Forex Interest Rate: Today�s headline � The Federal Funds Rate announcement

EUR/USD

Forex Interest Rate: Yesterday�s price action was very difficult to trade, especially on the lower time frames where a lot of whipsaws and sudden changes of direction occurred. The German ZEW Economic Sentiment survey came out with a value of 38.5, better than the anticipated 38.2, a fact which strengthened the Euro but did not prevent the pair to move briefly lower afterwards.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130619-Today%E2%80%99s-headline-%E2%80%93-The-Federal-Funds-Rate-announcement-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-interest-rate-todays-headline-the-federal-funds-rate-announcement/?ib=207)


GBP/USD

Although the British CPI came out better than expected (actual 2.7% and forecast was 2.6%), the release failed to bring the pair substantially higher and the predicted drop towards 1.5600 took place.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130619-Today%E2%80%99s-headline-%E2%80%93-The-Federal-Funds-Rate-announcement-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-interest-rate-todays-headline-the-federal-funds-rate-announcement/?ib=207)

[pasfx]

2013.06.20 : Forex Technical Analysis: Can the Bears continue the strong momentum?

EUR/USD

Forex Technical Analysis: For almost the entire duration of yesterday�s trading session, the pair moved above and below the level of 1.3400, in a small range. The US Federal Funds Rate remained unchanged as expected, but the event created huge volatility and price broke free of 1.3400.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130620-Can-the-Bears-continue-the-strong-momentum-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-can-the-bears-continue-the-strong-momentum/?ib=207)


GBP/USD

The pair returned yesterday to touch 1.5600 once again and bounced slightly higher afterwards; however the important US events �crushed� 1.5600 and took the pair into the support located at 1.5490.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130620-Can-the-Bears-continue-the-strong-momentum-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-can-the-bears-continue-the-strong-momentum/?ib=207)

[pasfx]

2013.06.21 : The Forex Market: A calm end for a wild week?

EUR/USD

The Forex Market: During yesterday�s trading session we saw lower prices for our pair, generated by the strong bearish momentum and also by the better than expected US data: the Existing Home Sales came out at 5.18M, better than the anticipated 5.01M. The Philly Fed Manufacturing Index posted a surprising higher than anticipated value: 12.5 (forecast was -0.6).

http://www.gdmfx.com/wp-content/uploads/2013/06/20130621-A-calm-end-for-a-wild-week-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-calm-end-for-a-wild-week/?ib=207)


GBP/USD

The US data affected the Cable as well and we experienced a break of 1.5490 generated by US Dollar strength. However, a high value of the UK Retail Sales brought price back up and we saw a touch from below of the level mentioned.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130621-A-calm-end-for-a-wild-week-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-calm-end-for-a-wild-week/?ib=207)

[pasfx]

2013.06.24 : The Forex Market: Stalling at support.

EUR/USD

The Forex Market: After a pretty slow start to Friday�s trading session, the bears managed to decisively break 1.3200 and even took price into the support located at 1.3120 (1.3100). No major fundamental events took place and the session was mostly driven by technical factors.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130624-Stalling-at-support-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-stalling-at-support/?ib=207)


GBP/USD

The Cable retraced slightly higher before moving decisively below 1.5490 but it wasn�t able to break the minor support located at 1.5375. However, last week ended with the bears dominating the market.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130624-Stalling-at-support-pic2-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-stalling-at-support/?ib=207)

[pasfx]

2013.06 .25 : The Forex Market: A new day under Bear control?

EUR/USD

The Forex Market: Although yesterday�s price action was not very clear and price mostly traded in a range, the pair traveled into the 1.3160 support, breaking 1.3120. The German IFO Business Climate survey posted a value of 105.09, not far away from the expected 106.0 so the release did not create a lot of volatility.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130625-A-new-day-under-Bear-control-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-new-day-under-bear-control/?ib=207)


GBP/USD

The Cable failed to move lower and price found support near the level of 1.5375. The up move that followed had technical reasons but it didn�t have enough strength to reach 1.5490.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130625-A-new-day-under-Bear-control-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-new-day-under-bear-control/?ib=207)

[pasfx]

2013.06.26: Forex Technical Analysis: A break of support is anticipated

EUR/USD

Forex Technical Analysis: All the US indicators released yesterday posted better than anticipated numbers, generating US Dollar strength and consequently a move lower for our pair, after testing again the resistance zone created around 1.3120.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130626-A-break-of-support-is-anticipated-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-a-break-of-support-is-anticipated/?ib=207)

GBP/USD

During yesterday�s trading session the pair moved higher, in close vicinity of the resistance located at 1.5490 but failed to break or even touch it, confirming the fact that buyers don�t have enough strength at the moment.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130626-A-break-of-support-is-anticipated-pic2-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-a-break-of-support-is-anticipated/?ib=207)

[pasfx]

2013.06.27: Forex Technical Analysis: Aiming towards major support.

EUR/USD

Forex Technical Analysis: During yesterday’s trading session the bears managed to break the support located at 1.3060 and to solidify their control over the market. However, for a brief moment the bulls were in control on the back of US Dollar weakness generated by the worst than expected US Final Gross Domestic Product (actual 1.8% and anticipated 2.4%).

http://www.gdmfx.com/wp-content/uploads/2013/06/20130627-Aiming-towards-major-support-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-aiming-towards-major-support/?ib=207)


GBP/USD

The support located at 1.5375 was broken during yesterday’s trading session, just as anticipated and the Hidden Bearish Divergence we talked about did a good job at predicting the move.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130627-Aiming-towards-major-support-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-aiming-towards-major-support/?ib=207)

[pasfx]

2013.06.28: The Forex Market: Can the bears finish the week in total control?

EUR/USD

The Forex Market: The pair had a mixed and overall ranging trading pattern yesterday, probably because both the German and US data came out better than anticipated and this strengthened both currencies, resulting in market indecision.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130628-Can-the-bears-finish-the-week-in-total-control-pic1-1024x660.png


Technical Outlook

Fundamental Outlook (http:www.gdmfx.com/the-forex-market-can-the-bears-finish-the-week-in-total-control/?ib=207)

GBP/USD

The pair moved substantially lower during yesterday’s trading session and even touched the major support located at 1.5220 on the back of worse than expected numbers for UK’s Current Account and better than expected US data.

http://www.gdmfx.com/wp-content/uploads/2013/06/20130628-Can-the-bears-finish-the-week-in-total-control-pic2-1024x660.png




Technical Outlook

Fundamental Outlook (http:www.gdmfx.com/the-forex-market-can-the-bears-finish-the-week-in-total-control/?ib=207)

[pasfx]

2013.07.01: The Forex Market: Grinding inside a small range?

EUR/USD

The Forex Market: After climbing above 1.3060, the pair dropped again below the level, but was stopped for the third time by the support located at 1.3000.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130701-Grinding-inside-a-small-range-pic1-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-grinding-inside-a-small-range/?ib=207)

GBP/USD

During Friday�s trading session the pair managed to move lower, below the support located at 1.5220 and the bears dominated the action although later in the evening, price moved higher.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130701-Grinding-inside-a-small-range-pic2-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-grinding-inside-a-small-range/?ib=207)

[pasfx]

2013.07.02: The Forex Market: A breakout is imminent

EUR/USD

During yesterday�s trading session price was mostly confined within the support located at 1.3000 and the resistance located at 1.3060. The US Manufacturing PMI came very close to the anticipated value and for this reason, the volatility remained low.

http://www.gdmfx.com/wp-content/uploads/2013/07/2Julychart.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-breakout-is-imminent/?ib=207)

GBP/USD

For the most part of yesterday�s trading session the pair moved above and below 1.5220, as anticipated. The UK Manufacturing PMI came out better (52.5) than anticipated (51.3), a fact which strengthened the Pound and drove the pair higher.

http://www.gdmfx.com/wp-content/uploads/2013/07/2Julychart2.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-breakout-is-imminent/?ib=207)

[pasfx]

2013.07.03: Forex Technical Analysis: A volatility boost after two slow days

EUR/USD

Forex Technical Analysis: Surprisingly the pair remained for the second day inside the range created between 1.3060 and 1.3000. The Spanish Unemployment numbers came out better than anticipated but the pair didn�t seem to be affected by the event.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130703-A-volatility-boost-after-two-slow-days-pic1-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-a-volatility-boost-after-two-slow-days/?ib=207)

GBP/USD

The pair managed to move below last week�s lowest price of 1.5165 but the move was far from being a decisive one and overall the Cable had a slow movement. The UK Construction PMI came out with a value close to the anticipated one and this contributed to the lack of volatility.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130703-A-volatility-boost-after-two-slow-days-pic2-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-a-volatility-boost-after-two-slow-days/?ib=207)

[pasfx]

2013.07.05: Forex Technical Analysis: Center stage is held by US Employment data.

EUR/USD

Forex Technical Analysis: During the ECB Press Conference Mario Draghi said: �The Governing Council expects the key ECB interest rates to remain at present or lower levels for an extended period of time� and this was the trigger for the sharp fall experienced by the pair. It reflects a dovish attitude and points towards further declines.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130705-Center-stage-is-held-by-US-Employment-data-pic1-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-center-stage-is-held-by-us-employment-data/?ib=207)

GBP/USD

The Bank of England indicated that interest rates will not be increased anytime soon and this was perceived as a very bearish sign, hence the 200 pip drop seen during yesterday�s trading session.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130705-Center-stage-is-held-by-US-Employment-data-pic2-1024x660.png



Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-center-stage-is-held-by-us-employment-data/?ib=207)

[pasfx]

2013.07.05: Forex Technical Analysis: Center stage is held by US Employment data.

EUR/USD

Forex Technical Analysis: During the ECB Press Conference Mario Draghi said: �The Governing Council expects the key ECB interest rates to remain at present or lower levels for an extended period of time� and this was the trigger for the sharp fall experienced by the pair. It reflects a dovish attitude and points towards further declines.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130705-Center-stage-is-held-by-US-Employment-data-pic1-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-center-stage-is-held-by-us-employment-data/?ib=207)

GBP/USD

The Bank of England indicated that interest rates will not be increased anytime soon and this was perceived as a very bearish sign, hence the 200 pip drop seen during yesterday�s trading session.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130705-Center-stage-is-held-by-US-Employment-data-pic2-1024x660.png



Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-center-stage-is-held-by-us-employment-data/?ib=207)

YM: [email protected] | Skype : gdmfxindonesia

[pasfx]

2013.07.08: The Forex Market: The ingredients for a volatile Monday are present

EUR/USD

The Forex Market: Friday price action was totally governed by the US Non Farm Employment Change which came out better than expected and substantially strengthened the US Dollar driving the pair lower, into the support located at 1.2840.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130708-The-ingredients-for-a-volatile-Monday-are-present-pic1-1024x660.png

Technical Outlook

Fundamental Outlook

(http://www.gdmfx.com/the-forex-market-the-ingredients-for-a-volatile-monday-are-present/?ib=207)

GBP/USD

The strong US Dollar drove the pair lower Friday and we saw a clean break of the major support located at 1.5020; the entire session was controlled by the bears and the pair moved very close to this year’s lowest price.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130708-The-ingredients-for-a-volatile-Monday-are-present-pic2-1024x660.png

Technical Outlook

Fundamental Outlook

(http://www.gdmfx.com/the-forex-market-the-ingredients-for-a-volatile-monday-are-present/?ib=207)

YM: [email protected] | Skype : gdmfxindonesia

[pasfx]

2013.07.09: Forex Technical Analysis: Resuming the bearish trend?

EUR/USD

Forex Technical Analysis: Mario Draghi�s public speech did not bring the expected volatility and for almost the entire duration of yesterday�s trading session the pair moved slowly but steady on a bullish path. The move is corrective and represents a much needed retracement after a sharp fall.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130709-Resuming-the-bearish-trend-pic1.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-resuming-the-bearish-trend/?ib=207)

GBP/USD

The pair did not manage to break this year�s low and had a bullish movement, similar to the EUR/USD . The day lacked any major fundamental developments and this resulted in a lack of strong movement.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130709-Resuming-the-bearish-trend-pic2-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-resuming-the-bearish-trend/?ib=207)

[pasfx]

2013.07.10: The Forex Market: The battle for the year’s low has begun

EUR/USD

The Forex Market: During yesterday’s trading session the pair dropped and broke the important support located at 1.2840 on the back of dovish comments coming from ECB Executive-Board Member Joerg Asmussen who said that low interest rates may remain at low levels for more than 12 months.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130710-The-battle-for-the-year%E2%80%99s-low-has-begun-pic1-1024x660.png



Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-forex-market-the-battle-for-the-years-low-has-begun/?ib=207)

GBP/USD

The UK Manufacturing Production was released yesterday with a worse than anticipated value (actual -0.8% and forecast 0.3%), a fact which weakened the Pound against its counterpart and drove the pair lower for a touch of 1.4830.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130710-The-battle-for-the-year%E2%80%99s-low-has-begun-pic2-1024x660.png



Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-forex-market-the-battle-for-the-years-low-has-begun/?ib=207)

YM: [email protected] | Skype : gdmfxindonesia

[pasfx]

2013.07.11: Forex Technical Analysis: Corrective moves or trend reversal?

EUR/USD

Forex Technical Analysis: Slowly but surely the pair climbed for almost the entire duration of yesterday�s trading session and the buyers managed to take price above the level of 1.2840. The release of the FOMC Meeting Minutes generated another bullish impulse and price touched 1.2950.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130711-Corrective-moves-or-trend-reversal-pic1-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-corrective-moves-or-trend-reversal-2/?ib=207)

GBP/USD

The Cable also had a bullish bias during yesterday�s trading session and the year�s low proved too strong for the pair to break. The UK did not release any economic or financial data and the main event of the day was the release of the FOMC Minutes.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130711-Corrective-moves-or-trend-reversal-pic2-1024x660.png



Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-corrective-moves-or-trend-reversal-2/?ib=207)

YM: [email protected] | Skype : gdmfxindonesia

[candle7779]

AUDUSD
If the pair breaks the level 0.92370 I propose to buy till the target 0.92751.
If the pair breaks the level 0.9105 than expected bearish movement to the level 0.9020.
details (http://accentforex.com)

[pasfx]

2013.07.12: Forex Exchange Rates: Currency wars � a reversal is looming

EUR/USD

Forex Exchange Rates: The massive bullish move experienced by the pair was generated by a comment made by Fed Chairman Ben Bernanke who pointed towards maintaining the stimulus program and an accommodative monetary policy. However, during yesterday�s trading session price retraced lower and the bullish move did not continue.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130712-Currency-wars-%E2%80%93-a-reversal-is-looming-pic1-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-exchange-rates-currency-wars-a-reversal-is-looming/?ib=207)

GBP/USD

After the strong initial surge generated by Ben Bernanke�s comments, the pair had a ranging movement, without any other major developments.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130712-Currency-wars-%E2%80%93-a-reversal-is-looming-pic2-1024x660.png


Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-exchange-rates-currency-wars-a-reversal-is-looming/?ib=207)

YM: [email protected] | Skype : gdmfxindonesia

[pasfx]

2013.07.15 : The Forex Market: US Retail Sales � Monday�s market mover

EUR/USD

The Forex Market: Friday�s trading session left us with no major clues about future direction as price action was ranging and no major support or resistance levels were broken. The US Producer Price Index came out better than expected and strengthened the US Dollar but later in the day, the Euro managed to reverse almost the entire loss.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130715-US-Retail-Sales%E2%80%93Monday%E2%80%99s-market-mover-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-us-retail-sales-mondays-market-mover/?ib=207)


GBP/USD

Overall the pair had a bearish day, with price action being influenced mostly by the failed attempt at breaking the resistance located at 1.5220 and the better than expected value of the US Producer Price Index.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130715-US-Retail-Sales%E2%80%93Monday%E2%80%99s-market-mover-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-us-retail-sales-mondays-market-mover/?ib=207)

[pasfx]

2013.07.16 : The Forex Market: A breakout is imminent.

EUR/USD

The Forex Market: The release of the US Retail Sales did not bring the expected volatility but the worse (0.4%) than expected (0.7%) value reversed the initial bearish move seen during yesterday�s trading session and took the pair higher on the back of US Dollar weakness.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130716-A-breakout-is-imminent-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-breakout-is-imminent-2/?ib=207)


GBP/USD

The release of the US Retail Sales had a bullish effect on the Cable as well and a weaker US Dollar took the pair higher, after an initial false break of support.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130716-A-breakout-is-imminent-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-breakout-is-imminent-2/?ib=207)

[pasfx]

2013.07.17 : The Forex Market: Ben Bernanke�s testimony � a real market shaker

EUR/USD

The Forex Market: The US Dollar fell against the Euro on speculations that Fed Chairman Ben Bernanke will attempt to discourage expectations of a stimulus reduction during today�s speech before the Congress. The result was a rise for the pair and a break of the minor resistance located at 1.3075.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130717-Ben-Bernanke%E2%80%99s-testimony-%E2%80%93-a-real-market-shaker-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-ben-bernankes-testimony-a-real-market-shaker/?ib=207)


GBP/USD

The pair had a mixed day overall and price ranged above and below the level of 1.5075 after the UK Consumer Price Index failed to meet the expectations and posted a value of 2.9% (forecast was 3.0%).

http://www.gdmfx.com/wp-content/uploads/2013/07/20130717-Ben-Bernanke%E2%80%99s-testimony-%E2%80%93-a-real-market-shaker-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-ben-bernankes-testimony-a-real-market-shaker/?ib=207)

[pasfx]

2013.07.18 : Forex Technical Analysis: Another day governed by the fundamentals

EUR/USD

Forex Technical Analysis: After a relatively slow start to yesterday’s trading session, Ben Bernanke’s testimony brought the pair in close vicinity to the support level of 1.3075 but his comments were not clearly hawkish or dovish and this created a rather mixed price action afterwards.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130718-Another-day-governed-by-the-fundamentals-pic11-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-another-day-governed-by-the-fundamentals/?ib=207)


GBP/USD

Early yesterday morning the Pound strengthened substantially against the US Dollar on the back of much better than anticipated unemployment numbers: the actual value was -21.2K and the anticipated one was -7.5K.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130718-Another-day-governed-by-the-fundamentals-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-another-day-governed-by-the-fundamentals/?ib=207)

[pasfx]

2013.07.19 : The Forex Market: A slow end to a slow week?

EUR/USD

The Forex Market: Yesterday was a surprisingly slow day for the pair considering the fact that ingredients for a volatile day were present. The Philly Fed Manufacturing Index posted a major surprise: actual value was 19.8 while the anticipated one was 8.5 but this failed to produce strong moves, although it strengthened the US Dollar to some extent.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130719-A-slow-end-to-a-slow-week-PIC1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-slow-end-to-a-slow-week/?ib=207)


GBP/USD

The UK Retail Sales came out as anticipated (0.2%) but the event brought the pair higher, for another touch of the resistance at 1.5220.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130719-A-slow-end-to-a-slow-week-PIC2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-a-slow-end-to-a-slow-week/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia

[candle7779]

AUDUSD and NZDUSD
I have cited pattern, momentum and sentiment as reasons to look for an AUDUSD reversal in recent weeks but it hasn�t happened so one must consider alternatives. Since June, each tradeable top has been marked by divergence with NZDUSD (NZDUSD exceeds a pivot high and AUDUSD does not). That happened again today and is in place as long as AUDUSD is below .9343.
Markets correct extremes in sentiment and momentum (which go hand in hand) through a combination of time and price. Sometimes more price�sometimes more time. The AUDUSD has corrected almost exclusively through time. Consider that since May 1st, price has declined nearly 14 big figures (1383 pips) from high to low and the largest rally since then has been 340 pips (6/11-6/14). Similar rallies occurred from 5/29-6/3 (263 pips) and 7/12-7/17 (294 pips). Introduce time into the equation and the momentum extremes that were evident through June have moderated. 20 day rate of change is just -.23.
details (http://accentforex.com)

[pasfx]

2013.07.22 : Forex Technical Analysis: Breaking out of consolidation.

EUR/USD

Forex Technical Analysis: Friday was a surprisingly slow day for our pair, with price confined within a 60 pip range. The release of the German Producer Price Index and the G20 Meetings failed to bring the expected volatility and a potential breakout.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130722-Breaking-out-of-consolidation-pic1-1024x660.png

Technical Outlook

Fundamental Outlook
(www.gdmfx.com/forex-technical-analysis-breaking-out-of-consolidation/?ib=207)


GBP/USD

For almost the entire part of Friday�s trading session the pair moved slowly but surely higher. Although resistance was broken, the daily range was just 70 pips and movement was unconvincing.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130722-Breaking-out-of-consolidation-pic2-1024x660.png

Technical Outlook

Fundamental Outlook
(www.gdmfx.com/forex-technical-analysis-breaking-out-of-consolidation/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.07.24 : Forex Technical Analysis: Today�s data may bring a volatility boost.

EUR/USD

Forex Technical Analysis: What appeared to be a bounce lower off 1.3200 resistance and a possible start of a reversal soon turned into a break of the mentioned level and a consequent move higher. The minor support created around 1.3175 did a good job yesterday at pushing price higher.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130724-Today%E2%80%99s-data-may-bring-a-volatility-boost-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-todays-data-may-bring-a-volatility-boost/?ib=207)


GBP/USD

During yesterday�s trading session the pair moved confidently higher but the market seems to have a hard time completing its normal daily range: the entire day price traveled a very small distance of about 70 pips.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130724-Today%E2%80%99s-data-may-bring-a-volatility-boost-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-todays-data-may-bring-a-volatility-boost/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.07.29 : The Forex Market: Resistance in jeopardy?

EUR/USD

The Forex Market: Friday lacked any major economic or financial indicator releases and this translated into slow and ranging movement, without a clear direction and just a 60 pip range. The week ended with price hovering close to the level of 1.3300.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130729-Resistance-in-jeopardy-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-resistance-in-jeopardy/?ib=207)


GBP/USD

Similar to the EUR/USD, the Cable had slow movement Friday and no important developments took place. Upside movement was capped by the resistance located at 1.5400.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130729-Resistance-in-jeopardy-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-resistance-in-jeopardy/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.07.31 : Forex Interest Rates: US Rate Decision � The first major market mover of the week.

EUR/USD

Forex Interest Rates: Yesterday�s German CPI data was better than expected and the US Consumer Confidence, worse than expected. This created another surge up to touch again the resistance at 1.3300 but the bulls did not manage to take price above it.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130731-US-Rate-Decision-%E2%80%93-The-first-major-market-mover-of-the-week-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-interest-rates-us-rate-decision-the-first-major-market-mover-of-the-week/?ib=207)


GBP/USD

Volatility seems to be back and yesterday the pair moved strongly to the down side, breaking the support located at 1.5380 and shifting short term control towards the bears.

http://www.gdmfx.com/wp-content/uploads/2013/07/20130731-US-Rate-Decision-%E2%80%93-The-first-major-market-mover-of-the-week-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-interest-rates-us-rate-decision-the-first-major-market-mover-of-the-week/?ib=207)



YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.08.02 : Forex Technical Analysis: US Employment data � the final market mover of the week

EUR/USD

Forex Technical Analysis: Yesterday�s trading session was surprisingly slow considering the fact that usually ECB�s Press Conference triggers strong moves for our pair and correlated ones. Overall we had a bearish day and another touch of the important support located at 1.3200.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130802-US-Employment-data-%E2%80%93-the-final-market-mover-of-the-week-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-us-employment-data-the-final-market-mover-of-the-week/?ib=207)


GBP/USD

The pair continued its descend during yesterday�s trading session and the only significant bullish move was generated by the better than expected UK Manufacturing PMI. However, the move was short lived and the bears regained control.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130802-US-Employment-data-%E2%80%93-the-final-market-mover-of-the-week-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-us-employment-data-the-final-market-mover-of-the-week/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

Forex Market: BRINGING RANGE-BOUND MOVEMENT TO AN END.

EUR/USD

Although last week had all the ingredients for a strong breakout, price ranged between the resistance located at 1.3300 and the support at 1.3200. None of the three Interest Rates were modified last week but Friday�s worse than expected US Non Farm Employment numbers weakened the US Dollar and the pair climbed back close to 1.3300.

http://www.gdmfx.com/wp-content/uploads/2013/08/05082013-Forex-Market-Weekly-News-GBPUSD-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-market-bringing-range-bound-movement-to-an-end/?ib=207)


GBP/USD

What appeared to be a clean break to the south of 1.5220 was reversed by the end of the week and price returned above it on the back of better than expected US Non Farm Employment data.

http://www.gdmfx.com/wp-content/uploads/2013/08/05082013-Forex-Market-Weekly-News-EURUSD-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-market-bringing-range-bound-movement-to-an-end/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.08.07 : Once again at the crossroads.

EUR/USD

The German Factory Orders came out better than anticipated yesterday and as a result the Euro strengthened and the pair moved to the upside. The better than anticipated US Trade Balance couldn�t do anything to reverse this bullish movement.

http://www.gdmfx.com/wp-content/uploads/2013/08/07082013-EURUSD-Forex-Market-News-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/once-again-at-the-crossroads/?ib=207)


GBP/USD

The pair had a slow and ranging trading session yesterday and although the only important UK indicator, the Manufacturing Production came out better than expected, it failed to generate a break of 1.5400 resistance.

http://www.gdmfx.com/wp-content/uploads/2013/08/07082013-GBPUSD-Forex-Market-News-1024x660.png


Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/once-again-at-the-crossroads/?ib=207)




YM: [email protected] | Skype : gdmfxindonesia

[pasfx]

August 12, 2013

Forex Technical Analysis: Key resistance levels ahead � a tough job for the Bulls.

EUR/USD

Forex Technical Analysis: Although last week was a slow one in terms of distance traveled, the pair finally broke out of the confinement area located between 1.3200 and 1.3300 and tested the key level of 1.3400.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130812%E2%80%9320130818-Key-resistance-levels-ahead-%E2%80%93-a-tough-job-for-the-Bulls-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-key-resistance-levels-ahead-a-tough-job-for-the-bulls/?ib=207)


GBP/USD

The BoE Inflation Report and Governor Carney�s press conference were last week�s �fuel� and the pair shot up, breaking 1.5400 in a decisive manner. It was a successful week for the bulls and price seems to be headed higher.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130812%E2%80%9320130818-Key-resistance-levels-ahead-%E2%80%93-a-tough-job-for-the-Bulls-pic2-1024x660.png


Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-key-resistance-levels-ahead-a-tough-job-for-the-bulls/?ib=207)



Indonesia Email Support: [email protected]
YM: [email protected] | Skype : gdmfxindonesia

[pasfx]

August 14, 2013

Forex Technical Analysis: Clash with support

EUR/USD

Forex Technical Analysis: Although the German ZEW Economic Sentiment came out better than anticipated, with a value of 42.0, the pair continued to slide lower. A major part in this descent was played by the better than anticipated US Retail Sales data which strengthened the greenback.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130814-Clash-with-support-pic1-1024x660.png

Technical Outlook

Fundamental Outlook ('http://www.gdmfx.com/forex-technical-analysis-clash-with-support/?ib=207')


GBP/USD

UK�s Consumer Price Index came out as anticipated, with a value of 2.8% but the event did not generate an extended move and yesterday�s entire trading session was characterized by whipsaws and sharp turns, making trading very difficult.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130814-Clash-with-support-pic2-1024x660.png


Technical Outlook

Fundamental Outlook ('http://www.gdmfx.com/forex-technical-analysis-clash-with-support/?ib=207')


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

August 15, 2013

The Forex Market: Climbing higher on the back of a weaker US Dollar

EUR/USD

The Forex Market: Yesterday the pair had a weird day, with price moving just about 40 pips from high to low. The German Gross Domestic Product and the US Producer Price Index couldn�t do anything to get the pair to move although these are usually high impact indicators.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130815-Climbing-higher-on-the-back-of-a-weaker-US-Dollar-pic1-1024x660.png

Technical Outlook

Fundamental Outlook ('http://www.gdmfx.com/the-forex-market-climbing-higher-on-the-back-of-a-weaker-us-dollar/?ib=207')


GBP/USD

The pair finally started to move stronger and we experienced a day with more than 120 pips traveled by price to the upside. This bullish movement was mostly generated by the much better than expected UK Claimant Count Change numbers: -29.2K.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130815-Climbing-higher-on-the-back-of-a-weaker-US-Dollar-pic2-1024x660.png


Technical Outlook

Fundamental Outlook ('http://www.gdmfx.com/the-forex-market-climbing-higher-on-the-back-of-a-weaker-us-dollar/')


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

August 16, 2013

The Forex Market: Ending the week inside a range.

EUR/USD

The Forex Market: Yesterday the pair had two encounters with the level of 1.3300 but better than expected US data triggered a sell-off and a move very close to 1.3200. However, the major drop was soon overshadowed by a massive rally which sent price flying above 1.3300.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130816-Ending-the-week-inside-a-range-pic1-1024x660.png

Technical Outlook

Fundamental Outlook ('http://www.gdmfx.com/the-forex-market-ending-the-week-inside-a-range/?ib=207')


GBP/USD

The UK Retail Sales came out better than forecast and this initially drove the pair higher but the US data took the pair back down. However, this direction was short lived and price returned back up, breaking 1.5600.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130816-Ending-the-week-inside-a-range-pic2-1024x660.png


Technical Outlook

Fundamental Outlook ('http://www.gdmfx.com/the-forex-market-ending-the-week-inside-a-range/?=207')


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[candle7779]

AUDUSD
If the pair breaks the level 0.92098 I propose to buy till the target 0.92411.
If the pair breaks the level 0.91511 than expected bearish movement to the level 0.91080.
details (http://accentforex.com)

[pasfx]

2013.08.19 : The Forex Market: The lack of economic news translates into slow movement

EUR/USD

The Forex Market: Friday the pair did not manage to move above 1.3400 or below 1.3300 although some important US data came out; the day was characterized by mixed movement, with price closing inside the range we mentioned.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130819-The-lack-of-economic-news-translates-into-slow-movement-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-the-lack-of-economic-news-translates-into-slow-movement/?ib=207)


GBP/USD

Friday the pair moved in a narrow 50 pip range and the US data which came out didn�t create enough volatility for a clear direction to be established.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130819-The-lack-of-economic-news-translates-into-slow-movement-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-the-lack-of-economic-news-translates-into-slow-movement/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.08.20 : The Forex Market: Breaking out of consolidation

EUR/USD

The Forex Market: The lack of economic news and the fact that Monday�s are usually slow days generated mixed price action and the pair remained inside the range created by 1.3380 (minor resistance) and 1.3310 (minor support), as anticipated.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130820-Breaking-out-of-consolidation-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-breaking-out-of-consolidation/?ib=207)


GBP/USD

The Cable had a similar day in terms of distance traveled by price but the bulls were slightly more active and for most of the day, the pair moved to the upside.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130820-Breaking-out-of-consolidation-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-breaking-out-of-consolidation/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia


Indonesia Email Support: [email protected]

[pasfx]

2013.08.21 : Forex Technical Analysis: The uptrend just got a boost

EUR/USD

Forex Technical Analysis: The only important indicator announced yesterday, Germany’s Producer Price Index created little volatility at the time of the release but the bulls took control of the pair and the key resistance located at 1.3400 was broken.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130821-The-uptrend-just-got-a-boost-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-the-uptrend-just-got-a-boost/?ib=207)


GBP/USD

The pair did not retrace as much as anticipated and instead continued higher after a small pullback. However, the entire day, price traveled just 70 pips from low to high.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130821-The-uptrend-just-got-a-boost-pic2-1024x660.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-the-uptrend-just-got-a-boost/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.08.22 : The Forex Market: Resistance tested � Bounce or Break?

EUR/USD

The Forex Market: The US Existing Home Sales numbers came out better than expected yesterday, a fact which briefly strengthened the greenback. The main event of the day, represented by the FOMC Meeting Minutes took the pair back up after a short lived move lower, but no clear direction was determined.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130822-Resistance-tested-%E2%80%93-Bounce-or-Break-pic1-1024x660.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-forex-market-resistance-tested-bounce-or-break/?ib=207")


GBP/USD

For the most part of yesterday�s trading session the pair slowly grinded higher and the FOMC Meeting Minutes generated similar movement to the one seen on the EUR/USD.

http://www.gdmfx.com/wp-content/uploads/2013/08/20130822-Resistance-tested-%E2%80%93-Bounce-or-Break-pic2-1024x684.png

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-forex-market-resistance-tested-bounce-or-break/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.08.23 :Forex Technical Analysis: Ending the week inside the range.

EUR/USD

Forex Technical Analysis: Yesterday the German Flash Manufacturing PMI came out better than expected but the Euro strength generated by this event was short lived and soon the pair dropped to touch 1.3300 resistance again.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/08/20130823-Ending-the-week-inside-the-range-pic1-1024x706.png) (253 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-ending-the-week-inside-the-range/?ib=207)


GBP/USD

For almost the entire duration of yesterday�s trading session, the pair headed slowly but surely to the downside. The support level located at 1.5600 is now breached but not in a decisive manner.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/08/20130823-Ending-the-week-inside-the-range-pic2-1024x706.png) (250 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-ending-the-week-inside-the-range/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[candle7779]

The Japanese Yen had a mediocre week, only finding solace in the fact that emerging markets were in mini-meltdown mode and therefore its role as a safe haven was revived.
The CHFJPY and EURJPY lead the way, adding +1.69% and +1.63% respectively, as the Euro finally started to respond to some of the improved data over recent weeks, while emerging market capital outflows could be finding home in the Switzerland as a haven as well. Profit taking in the GBPJPY saw the pair give back its gains to +0.83% for the week, while the USDJPY hit a three-week high above �99.00, before closing up by +1.22% and a hair under 98.70.
details (http://accentforex.com)

[pasfx]

2013.07.26 : Forex Technical Analysis: The calm before the breakout.

EUR/USD
Forex Technical Analysis: For almost the entire duration of Friday�s trading session the pair moved higher and even touched again the resistance located at 1.3400 but price ran out of steam before a break could occur.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/08/20130826-The-calm-before-the-breakout-pic1-1024x684.png) (250 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-waiting-for-the-bears-answer-to-the-rally/?ib=207)


GBP/USD

Although the Second Estimate UK Gross Domestic Product came out Friday with better than anticipated values and generated a brief rise, the pair quickly started to move to the down side, invalidating a bullish scenario..

http://www.gdmfx.com/wp-content/uploads/2013/08/20130826-The-calm-before-the-breakout-pic2-1024x684.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-waiting-for-the-bears-answer-to-the-rally/?ib=207)



YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.07.27 :
The Forex Market: When and where is it going to break? (http://www.gdmfx.com/the-forex-market-when-and-where-is-it-going-to-break/)



EUR/USD

The Forex Market: As anticipated, yesterday was not an action packed day and the pair moved slowly, with no real sense of direction. The US Durable Goods Orders came out a lot worse than anticipated but the event created just a brief surge, not an extended move.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/08/20130827-When-and-where-is-it-going-to-break-pic1-1024x684.png) (254 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-forex-market-when-and-where-is-it-going-to-break/?ib=207)


GBP/USD

The pair broke free of resistance and proved that the initial break was real, although no re-test from above occurred. Most of yesterday’s gains were generated by the worse than expected US Existing Home Sales.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/08/20130827-When-and-where-is-it-going-to-break-pic2-1024x684.png) (251 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/the-forex-market-when-and-where-is-it-going-to-break//?ib=207)



YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.07.28 :The Forex Market: The mixed movement continues.

EUR/USD

The Forex Market: Yesterday German data came out better than anticipated but the pair headed down at the time of the release and when good US data was released, the pair went up. This is the opposite of what happens under normal conditions and almost the entire day was characterized by such mixed movement.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/08/20130828-The-mixed-movement-continues-pic1-1024x684.png) (255 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-the-mixed-movement-continues/?ib=207)


GBP/USD

The pair had a smoother movement than its sister and mainly moved to the downside, with some bumps along the way represented by a rise after a touch of 1.5500 minor support.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/08/20130828-The-mixed-movement-continues-pic2-1024x684.png) (263 kB)

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-the-mixed-movement-continues/?ib=207)



YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.08.29 : Forex Technical Analysis: Still ranging but a breakout is imminent.

EUR/USD

Forex Technical Analysis: Yesterday the pair made another timid attempt at breaching 1.3400 but it did not produce a breakout and as a result price moved on a bearish path for almost the entire rest of the day, coming very close to 1.3300 support.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/08/20130829-Still-ranging-but-a-breakout-is-imminent-pic1-1024x684.png) (255 kB)

Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-still-ranging-but-a-breakout-is-imminent/?ib=207)


GBP/USD

The day�s most important event was the speech of BoE Governor Mark Carney. His positive and relaxed attitude during the speech and his answers to the questions that followed reversed the pair�s decline.

Large Image Link (http://www.gdmfx.com/wp-content/uploads/2013/08/20130829-Still-ranging-but-a-breakout-is-imminent-pic2-1024x684.png) (257 kB)


Technical Outlook

Fundamental Outlook (http://www.gdmfx.com/forex-technical-analysis-still-ranging-but-a-breakout-is-imminent/?ib=207)



YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.09.03 :Forex Technical Analysis: The battle for support has begun..

EUR/USD

Forex Technical Analysis: As anticipated, yesterday�s price action was not very volatile or unidirectional and instead, price moved above and below 1.3200. The Spanish and Italian Manufacturing data was better than anticipated but the impact on the market was mild.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130903-The-battle-for-support-has-begun-pic1-1024x477.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-the-battle-for-support-has-begun/?ib=207)


GBP/USD

Yesterday�s better than anticipated value of the UK Manufacturing Purchasing Managers� Index created enough bullish pressure to take price in close vicinity of 1.5600 resistance. However, those high prices couldn�t be sustained for long and the pair begun moving to the down side.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130903-The-battle-for-support-has-begun-pic2-1024x477.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/forex-technical-analysis-the-battle-for-support-has-begun/?ib=207)

YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.09.04 : The Forex Market: Mixed trading environment before Interest Rates day

EUR/USD
The Forex Market: Yesterday�s most anticipated economic indicator was the US Manufacturing PMI which came out with a value of 55.7, better than the anticipated 54.2. This strengthened the US Dollar but it did not generate an extended move.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130904-Mixed-trading-environment-before-Interest-Rates-day-pic1-1024x477.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-mixed-trading-environment-before-interest-rates-day/?ib=207)


GBP/USD

The pair had another clash with the resistance located at 1.5600 on the back of better than anticipated UK Construction PMI but price soon started to move down, towards 1.5500.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130904-Mixed-trading-environment-before-Interest-Rates-day-pic2-1024x477.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-mixed-trading-environment-before-interest-rates-day/?ib=207)



YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[candle7779]

Results of 4 round of �Master Scalper�

Position Accont Number Contestant Login Balance
1 2763185 basss 18 325.48
2 2769710 lois vin 17 293.00
3 2761579 utyf 14 787.00
4 2772744 Santa 12 838.63
5 2772372 poikon 9 533.36
6 2761949 glc 7 800.63
7 2772970 woqk 7 501.19
8 2773355 svist 5 385.94
9 2761596 qwerty4 4 916.37
10 2769714 BEKE 3 943.00
Aug 30 2013. 14:00 terminal time � Demo
details (http://accentforex.com/contest/demo-contest-master-scalper/results-of-master-scalper-contest)

[pasfx]

2013.09.06 :The Forex Market: Finishing the week on high volatility..

EUR/USD

The Forex Market: Yesterday the Euro declined to a six-week low against the US Dollar on the back of Mario Draghi�s comments regarding a possible rate decrease in the future. This shows that he is still not very confident about the economic situation and that we are likely to see lower prices for the pair.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130906-Finishing-the-week-on-high-volatility-pic1-1024x477.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-finishing-the-week-on-high-volatility/?ib=207)


GBP/USD

The Bank of England did not change the Interest Rate or the Asset Purchase Facility but the pair finished the day lower on the back of US Dollar strength.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130906-Finishing-the-week-on-high-volatility-pic2-1024x477.png

Technical Outlook

Fundamental Outlook (www.gdmfx.com/the-forex-market-finishing-the-week-on-high-volatility/?ib=207)


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.09.09 : The Forex Market: A slow start to an important week..

EUR/USD

The Forex Market: Friday�s main event was definitely the release of the US Non Farm Employment Claims which came out with a value of 169K, worse than the forecast 178K. This created US Dollar weakness and as a result price moved strongly to the upside.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130909-A-slow-start-to-an-important-week-pic1-1024x477.png

Technical Outlook
Friday�s rally encountered heavy resistance before price could break 1.3200 to the upside. For today�s trading session we don�t expect to see a sustainable break of the mentioned level and if price moves above 1.3200 it is very possible to see another move below it. A touch followed by a bounce lower will indicate that Friday�s rally was just a single bullish move and price will continue to the south.

Fundamental Outlook
The Euro will be influenced today by the release of the Sentix Investor Confidence survey scheduled at 08:30 am GMT. This is a leading indicator of economic health based on the opinions of about 2,800 investors and analysts; today�s anticipated value is -4.0 while the previous number was -4.9. Better than anticipated numbers can strengthen the Euro but the indicator is considered to have a low impact on the pair.


GBP/USD

After the initial bullish move generated by the worse than anticipated US Non Farm Employment numbers, the pair stopped and moved in a very narrow range until the end of the trading session, showing us the bulls are not in clear control.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130909-A-slow-start-to-an-important-week-pic2-1024x477.png

Technical Outlook
We expect a slow and ranging day for the pair; another touch of 1.5600 is very possible but we don�t anticipate any major developments. Minor resistance is represented by Friday�s high at 1.5680 but we are neutral on the pair at the moment, considering the lack of momentum experienced after the strong move to the upside.

Fundamental Outlook
The UK doesn�t release today any notable economic or financial indicators and this contributes to our expectations for a slow day.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.09.10 : The Forex Market: Crucial resistance levels ahead. Break or Bounce?

EUR/USD

The Forex Market: Although usually Monday�s are slow days, yesterday was an exception and price moved strongly to the upside, showing once again that no hard rules apply to currency trading. The rally was generated by US Dollar weakness which fell against most of its counterparts.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130910-Crucial-resistance-levels-ahead.-Break-or-Bounce-pic1-1024x477.png

Technical Outlook
The key level of 1.3300 is again sitting in front of the par. Once price gets there, we will be given more hints about its next move: if the Relative Strength Index will signal an overbought condition and indecision or rejection candles will appear, then probably we are dealing with a bounce lower. If price will close confidently above the level, we might be dealing with a continued move to the upside where 1.3300 becomes support once again.

Fundamental Outlook
At 06:45 am GMT the French Industrial Production numbers are released, with a hefty increase anticipated: 0.7% from the previous -1.4%.The French economy is an important part of the Euro Zone economy and better than anticipated numbers for this indicator strengthen the Euro but the impact is usually a mild one.

GBP/USD

The crucial resistance located at 1.5720 was touched yesterday as UK Chancellor of the Exchequer George Osborne said that Britain�s economy is in the early stages of a recovery, a statement which strengthened the Pound.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130910-Crucial-resistance-levels-ahead.-Break-or-Bounce-pic2-1024x477.png

Technical Outlook
Yesterday the pair moved almost straight up, with the bulls being in total control and this makes a retracement lower very probable. The Relative Strength Index on a four hour chart is indicating overbought conditions and 1.5720 represents a major resistance level which generated a lot of downward movement in the past and is likely to do that again. We don�t anticipate a break of this level on the first try.

Fundamental Outlook
The UK didn�t schedule for today any important data releases and the same is valid for the US so we anticipate a day driven by the technical aspect of the market.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.09.11 : The Forex Market: The battle for Resistance is still undecided.

EUR/USD

The Forex Market: The pair had a slow day yesterday and the only economic indicator of the day, the French Industrial Production failed to generate enough volatility for major developments to take place.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130911-The-battle-for-Resistance-is-still-undecided-pic1-1024x477.png

Technical Outlook
It seems like the bullish momentum is fading out or at least the buyers are taking a break. Monday�s rally could not be continued and the High located at 1.3280 could not be broken. Also, 1.3300 is still strong and coupled with 1.3280, it creates a strong zone of resistance which is likely to cap upside movement. Support is located in the 1.3225 � 1.3230 area.

Fundamental Outlook
The most important Euro Zone indicator released today is the German Consumer Price Index which is anticipated to remain unchanged at 1.5%. The price consumers pay for the products they purchase is a gauge of inflation so if its value increases too much, the ECB may counter this rise through a Rate increase. The release is scheduled for 06:00 am GMT and higher than anticipated values usually strengthen the Euro. The US doesn�t release any major economic or financial indicators today.

GBP/USD

The pair had a bullish day but a slow one and price crawled higher, above 1.5720. For the entire day, price moved in a 60 pip range, showing no determination or clear bull control.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130911-The-battle-for-Resistance-is-still-undecided-pic2-1024x477.png

Technical Outlook
Although 1.5720 was breached, the lack of determination we spoke of earlier makes us believe that we are not dealing with a true break and that price will soon return below 1.5720. Adding to this is the fact that Divergence is present: notice how price made a Higher High but the Relative Strength Index just printed a Lower High. This is an indication that price may be headed lower.

Fundamental Outlook
A very important UK indicator is released today at 08:30 am GMT: the Claimant Count Change which represents the change in the number of unemployed people who are asking for social benefits related to their lack of jobs. A higher number of unemployed people suggests that jobs are harder to obtain and this is usually a sign that economic conditions are worsening. Today�s forecast is -21.2K (previous was -29.2K) and a higher number can weaken the Pound.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.09.12 : Forex Technical Analysis: The bulls won the battle� or did they?

EUR/USD

Forex Technical Analysis: The bulls scored a good victory yesterday by touching 1.3300 resistance on the back of US Dollar weakness. The German Producer Price Index came out as anticipated, at 0.0% and as a result, the event had a low impact.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130912-The-bulls-won-the-battle%E2%80%A6-or-did-they-pic1-1024x477.png

Technical Outlook
The pair is showing signs of rejection in the form of the pin bar created right on the level of 1.3300. Also we note that Bearish Divergence is present: price is printing Higher Highs while the Relative Strength Index is showing Lower Highs. These factors make us believe that price will start to move lower soon. The first support is located at 1.3230 and first important resistance is 1.3400. Of course, the most important level at the moment is 1.3300.

Fundamental Outlook
Today at 08:00 am GMT the ECB will release the Monthly Bulletin which contains the statistical data analyzed when the Interest Rate decision was made and also an outlook concerning the future economic conditions from the Bank�s view point. This is important information for market participants and it will probably generate volatility at the time of the release and depending on the contents. Later in the day at 11:40 am GMT, ECB President Mario Draghi will speak at the Bank of Latvia�s Economic Conference. His public speeches are always watched closely for any hints of future monetary direction and volatility is almost always present.

GBP/USD

The pair was heavily influenced by the much better than expected numbers for the Claimant Count Change and as a result, price moved comfortably above the key resistance located at 1.5720.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130912-The-bulls-won-the-battle%E2%80%A6-or-did-they-pic2-1024x477.png

Technical Outlook
The key level of 1.5720 was breached decisively at the time of the important UK data release and the bullish momentum continued throughout the day. However, the Relative Strength Index is showing overbought conditions even on a daily chart so a retracement lower may be next. If this indeed happens, the first point of interest is represented by the same level of 1.5720 which may now turn into support. The next resistance is located at 1.5850.

Fundamental Outlook
The main event of the day is the appearance and speech of BoE Governor Mark Carney at the Inflation Report Hearings. The event is scheduled at 09:00 am GMT and will most likely generate strong movement, overshadowing the technical aspect.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.09.17 : The Forex Market: Attempting to close the gap. EUR/USD The Forex Market: The trading week opened with a major gap to the upside, almost 70 pips higher than it closed Friday but for almost the entire day, price moved in a pretty tight range. The Euro Zone CPI came out with a value of 1.3%, as anticipated and the event did not create strong moves. http://www.gdmfx.com/wp-content/uploads/2013/09/20130917-Attempting-to-close-the-gap-pic1-1024x479.png Technical Outlook Statistically weekly price gaps on this pair tend to be closed so we anticipate price to touch 1.3300 again because the gap originated near that area. Although gaps are usually closed, how much time passes until that happens is unknown so trading cannot be based on this information alone. However, 1.3400 was �threatened� today and this generated the move to the south so the distance to close the gap might be traveled today. The first level of interest is 1.3325, followed by 1.3300. Fundamental Outlook The most important data released today by the Euro Zone is the German ZEW Economic Sentiment which is expected to increase from the previous 42.0 to 45.3. Better numbers than anticipated will most likely strengthen the Euro and drive the pair higher; the release is scheduled for 09:00 am GMT. The US Consumer Price Index is released at 12:30 pm GMT and is expected to remain unchanged (0.2%). The indicator is closely watched by market participants because of its inflationary implications and under normal circumstances, higher than anticipated numbers strengthen the US Dollar, driving the pair lower. GBP/USD The Cable also opened with a gap to the upside but the rest of the day didn�t bring other major developments and the fact that UK didn�t release any news or economic data generated an uneventful trading session. http://www.gdmfx.com/wp-content/uploads/2013/09/20130917-Attempting-to-close-the-gap-pic2-1024x477.png Technical Outlook As we saw yesterday, price started to move to the down side in an attempt to close the gap we talked about. It is very possible the gap will be closed today but after that, the next move is uncertain: price created a double top at 1.5960, which is a bearish pattern, but the important level of 1.5850 might push price higher if the bearish movement continues and price touches this level. Fundamental Outlook The United Kingdom will release today at 08:30 am GMT the Consumer Price Index which shows the change in prices paid by consumers for the goods and services they purchase. A higher value indicates that inflation is rising and is usually perceived as bullish for the Pound by market participants. For today�s release the anticipated number is 2.7%, a decrease from the previous 2.8%. Written by: Bogdan Giulvezan The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market. Source of article from the best forex broker (http://www.gdmfx.com/?ib=207). YM: [email protected] | Skype : gdmfxindonesia Indonesia Email Support: [email protected]

[pasfx]

2013.09.18 : The Forex Market: All eyes on the United States events

EUR/USD

The Forex Market: Although two important economic indicators were released yesterday -the German ZEW survey and the US Consumer Price Index � the pair traveled just a 50 pip distance and overall the day lacked volatility.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130918-All-eyes-on-the-United-States-events-pic1-1024x477.png

Technical Outlook
The previous 1.3325 resistance turned into support yesterday when a touch resulted in a bounce higher. However, due to the lack of clear movement, a clear technical prediction is less reliable and at the moment we are neutral on the pair. Today is a very important day for the US and we believe the technical aspect will be secondary. The most important levels to watch are 1.3400 as resistance and 1.3300 as support.

Fundamental Outlook
The Federal Open Market Committee will announce today the Federal Funds Rate which is not anticipated to change from the previous 0.25%. The scheduled time is 6:00 pm GMT and at the same time the FOMC will release their Economic Projections and the Rate Statement which contains insights into the reasons that determined the Rate decision and possible hints about future monetary direction. Half an hour later, Fed Chairman Ben Bernanke will speak at a Press Conference and will also answer audience questions. Strong moves and sharp reversals are possible at the time of all these events so we recommend to trade cautiously.


GBP/USD

Yesterday the UK Consumer Price Index came out exactly as anticipated, with a value of 2.7% and although this was initially perceived by the market as bearish, the sellers failed to capitalize on the momentum and they couldn�t continue the move.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130918-All-eyes-on-the-United-States-events-pic2-1024x477.png

Technical Outlook
Yesterday�s mixed movement doesn�t bring a lot of clues about future direction but a touch of 1.5850 support is very possible. The first resistance is represented by the minor level of 1.5960 but the pair will be highly influenced by the important fundamental events scheduled for the day.

Fundamental Outlook
At 08:30 am GMT the Bank of England will release the MPC Meeting Minutes containing the outcome of the members� votes on the Asset Purchase Facility and on the Interest Rate. The vote details show us the stance of each MPC member and also show if the members are starting to change their opinions about these two important aspects of the UK monetary policy. The US events mentioned earlier will greatly affect the pair as well.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.09.19 : Forex Technical Analysis: The calm after the storm

EUR/USD

Forex Technical Analysis: Before the US evening events the pair moved sideways in an extremely narrow range of less than 30 pips. However this all changed once the US cluster of events was released, weakening the US Dollar and driving the pair higher. The US Interest Rate remained unchanged but the Fed decided to keep Bond buying at $85 billion per month and this was the trigger for the massive rally.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130919-The-calm-after-the-storm-pic1-1024x477.png

Technical Outlook
Yesterday�s momentum is likely to be continued today with more bulls joining the buying frenzy. The resistance located at 1.3400 was broken decisively on the first attempt and the rally paused near 1.3520 minor resistance. The pair is reaching the overbought level on a daily chart so we might see a retracement lower before price can move higher but the bias is bullish and higher prices are most probable.

Fundamental Outlook
The most important events of the day come from the United States today as well: the Existing Home Sales numbers are released at 2:00 pm GMT and expected to decrease from the previous 5.39M to 5.27M. A lower than anticipated number is indicative of a stalling or contracting economy and it may generate US Dollar weakness. At the same time, the Philly Fed Manufacturing Index will be announced, with an expected increase from the previous 9.3 to 10.2. The index is derived from the opinions of about 250 manufacturers from the Philadelphia Federal district and it�s a leading indicator of economic health so higher than anticipated numbers may strengthen the US Dollar.


GBP/USD

The Pound strengthened at the time of the BoE Meeting Minutes release and the US events brought price even higher on the back of US Dollar weakness.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130919-The-calm-after-the-storm-pic2-1024x477.png

Technical Outlook
The Pound had a massive 230 pip rise yesterday and the buyers are in total control of the pair with the first barrier being the resistance located at 1.6170. Although the momentum belongs to the bulls, the Relative Strength Index is showing a severe overbought condition so we don�t believe 1.6170 will be broken today. We will probably experience a ranging day compared to yesterday�s strong movement.

Fundamental Outlook
At 08:30 am GMT the United Kingdom announces the Retail Sales numbers which are anticipated to decrease from 1.1% to 0.4%. This is the main gauge of consumer spending which accounts for the majority of UK economic activity so higher numbers than forecast are beneficial for the Pound and may drive the pair higher.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[whyeach]

Forex adalah perdagangan mata uang asing

[pasfx]

2013.09.20 : The Forex Market: Resuming bullish movement.

EUR/USD

The Forex Market: Almost all US economic data which came out yesterday was better than anticipated (Existing Home Sales and Philly Fed Manufacturing Index) but the retracement generated by US Dollar strength found good support at 1.3520.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130920-Resuming-bullish-movement-pic1-1024x477.png

Technical Outlook
At the moment the pair is re-testing the broken level of 1.3520 and this looks like a good place for the pair to resume its upward movement. However, the Relative Strength Index on a four hour chart is still in overbought territory so price may fall further to clear this condition. If this is the case and 1.3520 is broken to the down side, the next potential support is located at 1.3450.

Fundamental Outlook
We have a slow day ahead with the only notable event being the speech of German Bundesbank President Jens Weidmann. The scheduled time is 11:30 am GMT and the place is the Society of Business Economics Luncheon in London. Public speeches of heads of Central Banks are always important and usually create volatility so we recommend caution if trading at the time.


GBP/USD

The UK Retail Sales came out with a value of -0.9%, worse than the anticipated 0.4% and this weakened the Pound, driving the pair lower for almost the entire day.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130920-Resuming-bullish-movement-pic2-1024x477.png

Technical Outlook
Although strong resistance was encountered at 1.6170 and the Pound gave back almost half of the gains acquired Wednesday, we consider that buyers will regain control and will drive the pair higher, at least for another touch of the level we just mentioned. The first notable level below price at the moment is 1.5960 and uptrend resumption may begin if it is touched, although it is more likely that price will begin to rise sooner.

Fundamental Outlook
The United Kingdom doesn�t release any major news or economic indicators today so we anticipate the market to be driven by the technical aspect.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).

YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.09.23 : The Forex Market: Price direction highly affected by Mario Draghi�s speech.

EUR/USD

The Forex Market: Friday�s movement was ranging and undecided, with both the buyers and sellers going back and forth in an attempt to gain the upper hand. No major economic data came out and this contributed to the ranging movement.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130923-Price-direction-highly-affected-by-Mario-Draghis-speech-pic1-1024x477.png

Technical Outlook
The major momentum belongs to the bulls and we may see a continuation move to the upside. If this is the case, the first barrier in front of rising prices is last week�s high located at 1.3568. To the downside the first level of interest is 1.3450 but the technical aspect may be overshadowed by today�s fundamental events.

Fundamental Outlook
The most important event of the day and possibly of the week is the speech of the ECB President Mario Draghi. He is due to testify on the Euro Zone economic situation in Brussels, before the Committee on Economic and Monetary Affairs. The event is scheduled at 1:00 pm GMT and volatility is expected; the direction depends on his attitude and comments.

Earlier in the day, at 07:00 am GMT the French Manufacturing PMI is released, with an anticipated value of 50.2 compared to the previous 49.7 and half an hour later the German Manufacturing PMI comes out. The anticipated value is 52.3 from the previous 51.8. Better than anticipated numbers for both indicators usually strengthen the Euro and drive the pair higher.

GBP/USD

The pair continued its descent, almost nullifying the Pound�s gains obtained previously during the week but the movement was rather slow.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130923-Price-direction-highly-affected-by-Mario-Draghis-speech-pic2-1024x477.png

Technical Outlook
We consider that for today�s trading session a touch of 1.5960 is likely. If price gets there, a bounce higher is anticipated and possibly an attempt to resume the uptrend. Due to the correlation between GBP/USD and EUR/USD, Mario Draghi�s speech will have a hefty impact and we expect price to follow to an extent the movement of EUR/USD.

Fundamental Outlook
The United Kingdom doesn�t release any important data today and the pair�s movement will mostly be driven by the technical aspect.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.09.26 : The Forex Market: Consolidating before another bullish push.

EUR/USD

The Forex Market: The US Durable Goods Orders did not increase as much as anticipated and this fact was perceived as bearish for the US Dollar and contributed to yesterday�s rally. The US New Home Sales came out very close to the anticipated figure and didn�t generate strong movement.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130926-Consolidating-before-another-bullish-push-pic1-1024x477.png

Technical Outlook
Yesterday we saw an almost perfect bounce from the uptrend line we spoke about and it looks like the pair is resuming its bullish movement. Price moved back above 1.3520 but it is not a clear break until the level will be re-tested from above. If this potential re-test will generate a bounce higher, the pair�s next target will be the previous high located at 1.3570.

Fundamental Outlook
At 12:30 pm GMT the US will release the Unemployment Claims which are expected to increase from 309K to 319K, a fact which would weaken the greenback and drive the pair higher. Later at 2:00 pm GMT the Pending Home Sales are announced; the indicator measures the change in the number of houses awaiting the final transaction and is expected to increase from -1.3% to -0.9%. The Euro Zone doesn�t release any important indicators today.


GBP/USD

Following the touch and bounce off the support located at 1.5960, the pair moved higher yesterday and is now testing 1.6070 resistance.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130926-Consolidating-before-another-bullish-push-pic2-1024x477.png

Technical Outlook
The Relative Strength Index on an hourly chart is indicating an overbought condition so price may stall here for a while or even retrace slightly below 1.6070 before it can move higher. If the pair manages to break this level to the upside, the next major resistance is located at 1.6170 and 1.6070 may turn into support.

Fundamental Outlook
Today at 08:30 am GMT the United Kingdom releases an important economic indicator: the Gross Domestic Product. This is the broadest measure of an economy�s performance and has the potential to create strong moves, although most of its components are known in advance and this makes its value highly predictable. Today�s figure is expected to be 1.5% and higher values are beneficial for the Pound.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.09.27 :The Forex Market: Ending the week inside the range?

EUR/USD

The Forex Market: Yesterday�s US Unemployment Claims came out better than expected and this generated the bearish movement although later in the day the Pending Home Sales were released with a worse value than was anticipated.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130927-Ending-the-week-inside-the-range-pic1-1024x477.png

Technical Outlook
The uptrend line drawn from the beginning of the month was broken yesterday and this is an indication that the sellers are starting to gather some strength. On the other hand, no important horizontal support was broken by yesterday�s bearish move and price moved just about 60 pips. So at the moment, no clear winner emerged and the pair is still consolidating. The first levels of interest remain 1.3520 to the upside and 1.3450 to the down side.

Fundamental Outlook
At 12:00 pm GMT the German Consumer Price Index is announced and expected to remain unchanged at 1.5%. The indicator measures the change in prices paid by consumers for their purchases and is highly correlated with inflation; usually higher than anticipated values strengthen the Euro. Earlier, at 09:00 am GMT, ECB President Mario Draghi speaks at Bocconi University in Milan. Volatility may be generated at the time of the speech, depending on the topics he will discuss and his attitude.


GBP/USD

United Kingdom�s Gross Domestic Product decreased from the previous 1.5% to 1.3%, a change which was not anticipated and which generated a sharp drop below 1.6070.

http://www.gdmfx.com/wp-content/uploads/2013/09/20130927-Ending-the-week-inside-the-range-pic2-1024x477.png

Technical Outlook
The fundamental aspect of the market overshadowed the technical and dismissed for the moment a bullish scenario where price touches 1.6170. For the entire week the pair has been trading between minor support and resistance and a breakout today is not very probable. If price touches 1.6070 or 1.5960, we will most likely see a bounce, not a break.

Fundamental Outlook
The United Kingdom doesn�t release today any important news or economic indicators so the pair�s movement will be mostly affected by the technical aspect.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.03 : The Forex Market: Trend resumption or just a single move?

EUR/USD

The Forex Market: The ECB Interest Rate remained unchanged, as expected but the fact that Mario Draghi refrained from signaling a need for new measures to help the region�s economy strengthened the Euro and pushed the pair higher.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131003-Trend-resumption-or-just-a-single-move-pic1-1024x477.png

Technical Outlook
The resistance located at 1.3570 was finally broken yesterday and now a re-test of the level is expected in order to confirm this is real break, not just a fake out. At the moment the momentum belongs to the bulls and the next major resistance is represented by 1.3710, the year�s high. A move back below 1.3570 would indicate that the ranging period is still not over and the strong rally was just a single move.

Fundamental Outlook
The most important European event of the day is the release of the Euro Zone Retail Sales scheduled at 09:00 am GMT. The indicator is considered to have a medium impact on the pair but if a substantial difference is posted, strong moves are likely to be generated. For today�s release, analysts anticipate an increase from the previous 0.1% to 0.3%.

The United States announce the Unemployment Claims at 12:30 pm GMT with an increase anticipated from the previous 305K to 315K. Numbers higher than 315K are detrimental for the US Dollar and may weaken it.

GBP/USD

Similar to the Euro, the Pound strengthened against the greenback and the pair moved on a bullish path for almost the entire duration of yesterday�s trading session.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131003-Trend-resumption-or-just-a-single-move-pic2-1024x477.png

Technical Outlook
Yesterday�s rally generated a double top chart pattern close to the level of 1.6250 after an almost perfect re-test of 1.6170. The pattern we mentioned is pushing price lower at the moment and today will offer more insights about future direction and whether the latest small move south is a retracement or a reversal. The levels to watch are 1.6250 as resistance and 1.6170 as support.

Fundamental Outlook
The UK Services Purchasing Managers� Index will be released at 08:30 am GMT with an anticipated decrease from the previous 60.5 to 60.4. This is a leading indicator of economic health based on the opinions of purchasing managers from the Services sector and better than anticipated numbers may strengthen the Pound.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.04 : Forex Technical Analysis: US Non Farm Employment report canceled.

EUR/USD

Forex Technical Analysis: The US Data released yesterday afternoon (GMT time) was worse than expected and the US Dollar weakened as a result, allowing the pair to climb higher.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131004-US-Non-Farm-Employment-report-canceled-pic1-1024x477.png

Technical Outlook
After breaking 1.3520 to the upside price didn�t return to re-test it and continued its bullish path. At the moment the year�s high located at 1.3710 is the first barrier in front of rising prices and also, a high-interest level. The Relative Strength Index on a four hour chart shows some signs of overbought but it is not an extreme condition so further advances are possible. The first support is represented by 1.3520.

Fundamental Outlook
Under normal circumstances, the most important event of the day would have been the release of the Non Farm Employment change but the US Labor Department announced that the employment situation report will not be released due to budget issues.

The German Producer Price Index will be released at 06:00 am GMT with an anticipated increase from -0.1% to 0.1%. Higher than expected values usually strengthen the Euro and drive the pair higher, especially if a substantial difference is posted.

GBP/USD

The Pound�s rally stopped yesterday after the double top pattern mentioned and at the moment the support located at 1.6170 is being tested.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131004-US-Non-Farm-Employment-report-canceled-pic2-1024x477.png

Technical Outlook
The bullish movement seemed overextended for quite a long while and it looks like price is trying to break 1.6170 to the down side once again. If the bearish momentum is not strong enough to take price below the mentioned support, we are likely to see a few days or ranging price action between 1.6170 and 1.6250.

Fundamental Outlook
The United Kingdom doesn�t release any major economic data today so the pair will mostly be driven by the technical aspect.

We hope you had a profitable trading week and we wish you a relaxing weekend.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[candle7779]

The European Central Bank (ECB) is expected to keep the benchmark interest rate at 0.50% as the monetary union returns to growth, but President Mario Draghi may show a greater willingness further embark on the easing cycle in an effort to encourage a stronger recovery.
What�s Expected:
Time of release: 10/02/2013 11:45 GMT, 7:45 EDT
Primary Pair Impact: EURUSD
Expected: 0.50%
Previous: 0.50%
DailyFX Forecast: 0.50%
details (http://accentforex.com/news)

[pasfx]

2013.10.07 : Forex Technical Analysis: Clash with support

EUR/USD

Forex Technical Analysis: The pair moved to the south for almost the entire duration of Friday�s trading session on the back of Euro weakness generated by a worse than expected German Producer Price index and the bears scored the first victory in a long time.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131007-Clash-with-support-pic1-1024x477.png

Technical Outlook
The level located at 1.3570 was broken to the down side and the sellers had the strongest day in a long while. If this bearish momentum will turn into a trend reversal, the first target is the support located at 1.3520. For today we anticipate slow price action, with a potential re-test from below of the recently broken level, followed by continuation of Friday�s bearish direction.

Fundamental Outlook
The Euro Zone Sentix Investor Confidence will be released today at 08:30 am GMT with an anticipated increase from the previous 6.5 to 10.9. This is a leading indicator of economic health based on the opinions of investors and analysts who are highly informed due to the nature of their jobs so higher than expected numbers usually strengthen the Euro.

The German Producer Price Index will be released at 06:00 am GMT with an anticipated increase from -0.1% to 0.1%. Higher than expected values usually strengthen the Euro and drive the pair higher, especially if a substantial difference is posted.

GBP/USD

United Kingdom�s economy is not growing at �a sustained pace� as BoE Governor Mark Carney commented last week and this was reflected in the market, generating the recent drop.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131007-Clash-with-support-pic2-1024x477.png

Technical Outlook
Early during Friday�s trading session we experienced an almost perfect re-test from below of the level located at 1.6170, followed by a bounce lower. The pair dropped almost 170 pips and the bears are in control at the moment, aiming for the first support, located at 1.5960. Today we expect a �clash� with this level which is very important for future direction as we may witness a trend reversal and a shift in the balance of power.

Fundamental Outlook
The United Kingdom doesn�t release today any major economic or financial data so the pair�s movement will mostly be driven by the technical aspect.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[candle7779]

The Japanese Yen broadly ignored the outcome, rising against its major counterparts amid risk aversion triggered by the lingering US government shutdown. The possible negative implications of the budget deadlock for US demand sent Japan�s Nikkei 225 stock index lower, boosting safe-haven demand for the Yen.
details (http://accentforex.com)

[pasfx]

2013.10.08 :The Forex Market: Price direction highly dependent on US crisis developments.

EUR/USD

The Forex Market: Monday was a slow day, with price moving inside a 50 pip range, above and below the level of 1.3570 and neither the bulls nor the bears showed clear signs of strength. The Euro Zone Sentix Investor Confidence came out worse than anticipated and stopped the initial movement to the upside.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131008-Price-direction-highly-dependent-on-US-crisis-developments-pic1-1024x477.png

Technical Outlook
Yesterday�s price action doesn�t reveal a lot of hints about future direction and 1.3570 still remains the most important level for short term movement. A break to either side may decide the day�s bias but at the moment the pair is trading in a range so we might see more sideways movement. However, the US political turmoil may bring the Dollar lower.

Fundamental Outlook
At 10:00 am GMT the German Factory Orders are released with an anticipated increase from -2.7% to 1.2%. Better than expected numbers usually strengthen the Euro because the indicator offers insights into the activity of the Production sector which is an important part of the German economy.

GBP/USD

The Pound strengthened yesterday on the back of increased optimism among investors. This shows the underlying strength of the bulls and the fact that even if a reversal is taking place, moves to the upside are still very possible.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131008-Price-direction-highly-dependent-on-US-crisis-developments-pic2-1024x477.png

Technical Outlook
Yesterday�s bullish movement can be considered just a retracement to the latest fall, a good place for the bears to start selling again. If the pair resumes its bearish movement, the first level of interest will be 1.6000 where a double bottom has formed. To the upside, the area near 1.6170 acts as a strong resistance zone.

Fundamental Outlook
The United Kingdom doesn�t release today any notable economical or financial indicators so price action will mostly be influenced by the technical aspect and by the US political situation.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.09 : The Forex Market: Caution rules the market. For how long?

EUR/USD

The Forex Market: The pair continued its slow movement throughout yesterday�s trading session, finishing the day within a 50 pip range. Some analysts expected the US Non Farm Employment report to be released yesterday but this didn�t happen and the exact date is still not known.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131009-Caution-rules-the-market.-For-how-long-pic1-1024x477.png

Technical Outlook
Price tried to move away from the level of 1.3570 but neither the buyers nor the sellers seem to want to make a decisive move and everyone is cautious at the moment. Yesterday�s price action created resistance at 1.3605 and 1.3520 still remains support. The level of 1.3570 is changing rapidly from support to resistance and vice versa but it doesn�t seem to have a lot of rejecting-power anymore.

Fundamental Outlook
The German Industrial Production indicator is released today at 10:00 am GMT with an anticipated increase from -1.7% to 1.1%. Better than expected numbers are beneficial for the Euro and may take the pair higher. Later in the day, at 6:00 pm GMT the FOMC will release the Minutes of their latest meeting, containing the details of their votes on the Interest Rate and also the reasons that influenced the vote. This event usually creates volatility and strong movement so we recommend caution.

GBP/USD
The pair had an active but mixed trading session yesterday. After an initial bearish impulse, the buyers took control and took price higher. However, this second impulse was reversed later in the day and price finished close to the daily open.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131009-Caution-rules-the-market.-For-how-long-pic2-1024x477.png

Technical Outlook
We favor a move lower, towards 1.6000 but at the same time, we acknowledge the fact that price is trading inside a range and another move towards 1.6170 is possible. Direction is not clear at the moment and trading is made difficult by the US political turmoil and Dollar indecision. A break or at least touch of either one of the mentioned levels may trigger some interest and a clear direction.

Fundamental Outlook
The most important UK event of the day is the release of the Manufacturing Production which makes up for about 80% of the entire Industrial Production and thus holds a great importance. The release is scheduled at 08:30 am GMT and the anticipated value is 0.3%, a slight increase from the previous 0.2%. The US events will have a direct impact on the pair.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.10 : The Forex Market: Is the Dollar�s decline over?

EUR/USD

The Forex Market: During yesterday�s trading session the US Dollar strengthened when a White House official indicated that Fed Vice Chairman Janet Yellen would succeed Ben Bernanke as head of the US central bank. After trading without volatility for a long time, the pair finally started to move yesterday, traveling a good 110 pip distance.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131010-Is-the-Dollars-decline-over-pic1-1024x477.png

Technical Outlook
Yesterday�s fall generated a break of the support located at 1.3520 and price is re-testing it at the moment. We are not out of the ranging zone, but the latest developments favor a medium-term trend reversal. If this scenario will unfold, we will see lower prices today and probably a touch of the support located at 1.3450. The US Government crisis is still a crucial factor which can overshadow the technical aspect.

Fundamental Outlook
Early at 08:00 am GMT the ECB will release their Monthly Bulletin, containing information about the data that was analyzed when the latest Interest Rate decision was made and also the Bank�s view regarding the economic conditions. ECB President Mario Draghi will speak later in the day, at 4:20 pm GMT at the Economic Club of New York. Strong moves may be experienced during the speech, depending on the matters discussed.

At 12:30 pm GMT the US will release the Unemployment Claims which are expected to change from the previous 308K to 307K. A lower number is usually beneficial for the greenback and drives the pair lower.

GBP/USD

The main event of yesterday�s trading session was the surprisingly lower than anticipated value of the UK Manufacturing Production: actual -1.2%; forecast 0.3%. This substantial difference weakened the Pound early in the day and the bearish movement continued throughout the day.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131010-Is-the-Dollars-decline-over-pic2-1024x477.png

Technical Outlook
The next target for the pair is 1.5850 but a re-test of the broken 1.6000 is very possible. The bears took the pair about 200 pips lower and the technical move is backed up by fundamentals so a continued drop is very likely. However, today is an important day for the Pound as the Bank of England will release the Official Bank Rate and a surprise change may overthrow our bearish stance.

Fundamental Outlook
As mentioned above, the headline of the day is the Bank of England Rate decision, although no change is anticipated from the current 0.50%. The event is scheduled at 11:00 am GMT and at the same time the Asset Purchase Facility value will be released. This is the amount of money the Bank uses in order to stabilize the currency and a lower value is perceived as bullish for the Pound. For today�s release, no change is anticipated from the previous 375B.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.14 : The Forex Market: A slow Monday with sluggish price action

EUR/USD

The Forex Market: During Friday�s trading session the Euro initially gained against the US Dollar and the pair rose to 1.3581 before dropping to make another attempt at breaking 1.3520 to the downside. The greenback strengthened in the second part of the day due to increased hope that a solution to the recent US debt crisis may be found.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131014-A-slow-Monday-with-sluggish-price-action-pic1-1024x477.png

Technical Outlook
The horizontal level located at 1.3520 is the most important of the day. Price is likely to remain near this level, moving above and below it, but we slightly favor a break to the down side and a continuation of last week�s bearish momentum. If this scenario will come true, the first support is located in the 1.3450 � 1.3460 zone.

Fundamental Outlook
At 09:00 am GMT the Euro Zone Industrial Production is released. The anticipated value is 0.8%, an increase from the previous -1.5%; Industrial production is a major part of the European economy so better than forecast numbers are beneficial for the Euro. US Banks are closed celebrating Columbus Day and no important economic indicators will be released. The Eurogroup meetings take place in Brussels and volatility may be generated, depending on the matters discussed.


GBP/USD

During Friday�s trading session we saw an almost perfect re-test of the level located at 1.6000 followed by a move lower. This latest move was generated by the US optimism we mentioned earlier.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131014-A-slow-Monday-with-sluggish-price-action-pic2-1024x477.png

Technical Outlook
The bounce off 1.6000 confirms our bearish bias and the fact that a reversal to the medium term uptrend has begun. This makes 1.5850 the next target for the pair, but since Monday�s are usually slow days, price may not reach this target today. Resistance is located at 1.6000 and we don�t favor a break of this level today.

Fundamental Outlook
The United Kingdom didn�t schedule any important economic or financial events for today and US Banks will be closed so we may experience a slow day in terms of price action.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.16 :The Forex Market: US Dollar builds momentum, anticipating a debt crisis solution.

EUR/USD
The Forex Market: The greenback showed signs of recovery during yesterday�s trading session as US leaders struggled to find a solution to the debt crisis and some progress was made. The pair dropped below 1.3520 and the entire day was controlled by the bears.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131016-US-Dollar-builds-momentum-anticipating-a-debt-crisis-solution-pic1-1024x477.png

Technical Outlook
The support located at 1.3520 was broken yesterday but this happened before, on several occasions and price returned above it so before we consider this a clear break, we must see a re-test. At the moment price approached the level from below and the re-test we talked about might be underway. If price doesn�t move back above 1.3520, we may see the pair heading into the support zone created around 1.3450 � 1.3460, but as we already saw, any news related to the US crisis can create strong moves which will break support and resistance levels.

Fundamental Outlook
The Euro Zone Consumer Price Index will be released today at 09:00 am GMT with no change anticipated from the previous 1.1%. The CPI is the primary tool the ECB uses to gauge inflation and values outside a certain range may determine an Interest Rate adjustment. Higher values usually strengthen the Euro and drive the pair higher.

GBP/USD

United Kingdom�s Consumer Price Index came out yesterday better than anticipated, a fact which initially strengthened the Pound but US optimism took the pair lower afterwards. The trading day was characterized by a sharp reversal after a touch of support.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131016-US-Dollar-builds-momentum-anticipating-a-debt-crisis-solution-pic2-1024x477.png

Technical Outlook
The support located at 1.5915 acted as a perfect barrier in front of falling prices, stopping the bearish momentum. The resistance located at 1.6300 is now threatened once again but lately the pair is just ranging between the two mentioned levels, lacking a clear direction. Probably once an accord is reached by US lawmakers, we will finally see more determination from either the bulls or the bears.

Fundamental Outlook
Early at 08:30 am GMT the United Kingdom releases the Claimant Count value which represents the change in the number of unemployed people compared to the previous month. Lower numbers suggest that jobs are easier to obtain, which is a sign of a thriving economy and thus are beneficial for the Pound; today�s forecast is -24.3K and the previous value was -32.6K. Of course, the US debt crisis will continue to have a direct impact on this pair as well.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

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[pasfx]

2013.10.18 :Forex Technical Analysis: The calm after the storm. EUR/USD Forex Technical Analysis: The US Dollar weakened the most in about a month on the back of speculation that Fed will not taper the stimulus program soon because although the debt crisis is over, its repercussions will hinder future economic growth. http://www.gdmfx.com/wp-content/uploads/2013/10/20131018-The-calm-after-the-storm-pic1-1024x477.png Technical Outlook Yesterday�s events took the pair significantly higher and broke through 1.3650 resistance. The pair is now headed for the crucial level located at 1.3710 which represents the year�s high and due to its importance, it might reject prices lower or at least it won�t be broken on the first attempt. The pair experienced an extremely strong move, without any retracement so it may be possible to have a slow day, with price moving close to 1.3710. Fundamental Outlook Today lacks important economic or financial data releases from both the US and the Euro Zone so price action will most likely be driven by traders� sentiment and any unscheduled news releases. GBP/USD The pair moved even stronger to the upside than EUR/USD due to the fact that Pound started to strengthen immediately after the UK Retail Sales were released, posting a better value than anticipated. The weakening of the US Dollar on top of Pound strength was the final ingredient for a 230 pip rise. http://www.gdmfx.com/wp-content/uploads/2013/10/20131018-The-calm-after-the-storm-pic2-1024x477.png Technical Outlook The massive bull impulse was stopped by the resistance located at 1.6170. However, this stall cannot be attributed to the strength of resistance or bear pressure but rather to price exhaustion and the fact that it was reached in the evening (GMT time). After such a strong move, price is likely to stall or retrace a bit but we don�t anticipate significant moves to the downside, considering the tremendous bullish sentiment on the pair. Fundamental Outlook The United Kingdom doesn�t release any important data today but although the US debt crisis has ended, any unscheduled news coming out of the US will affect the pair. We hope you had a profitable trading week and we wish you a relaxing weekend. Written by: Bogdan Giulvezan The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market. Source of article from the best forex broker (http://www.gdmfx.com/?ib=207). YM: [email protected] | Skype : gdmfxindonesia Indonesia Email Support: [email protected]

[pasfx]

2013.10.21 : The Forex Market: Massive resistance ahead � a hard task for the Bulls

EUR/USD

The Forex Market: Friday we saw a continuation of Thursday�s massive bullish impulse but no important news came out and price was exhausted, traveling a much smaller distance. Overall, we had a slow day but the bulls maintained their control.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131021-Massive-resistance-ahead-%E2%80%93-a-hard-task-for-the-Bulls-pic1-1024x477.png

Technical Outlook
As mentioned before, we are approaching the year�s high located at 1.3710. This is a major resistance level and although we are in an uptrend, we don�t anticipate a true break today. It is possible for the pair to surpass this level during the week but usually volatility is low and movement is not very strong. Of course, there are exceptions and this is not a hard rule. The first level that can offer some support is located at 1.3650 and may push price higher if touched.

Fundamental Outlook
Early at 06:00 am GMT the German Producer Price Index is released with an anticipated increase from the previous -0.1% to 0.1%. This is a leading indicator of consumer inflation because higher prices charged by producers will eventually be passed on to the client; higher than anticipated values usually strengthen the Euro.

The US Existing Home Sales numbers are announced at 2:00 pm GMT, offering insights into the housing market. The anticipated number is 5.31M, a decrease from the previous 5.48M and usually better than anticipated values strengthen the greenback because they are indicative of a good financial situation of the buyers.

GBP/USD

Friday�s price action was significantly slower than what we saw a day before but nonetheless, the pair managed to climb above 1.6170 resistance.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131021-Massive-resistance-ahead-%E2%80%93-a-hard-task-for-the-Bulls-pic2-1024x477.png

Technical Outlook
Quickly after moving past 1.6170, price returned to re-test it from above but the week ended slightly below the level. On a four hour chart the Relative Strength Index is indicating overbought conditions so today we may see a retracement below 1.6170. If price moves to the upside, it will encounter resistance around 1.6250.

Fundamental Outlook
The United Kingdom did not schedule any important news releases for today so price action will be mostly driven by the technical aspect and US events.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.22 : Forex News: All eyes on the US for the release of the Non-Farm Employment report.

EUR/USD

We experienced a slow Monday with price confined in a 40 pip range although the German CPI came out better than anticipated and the US Existing Home Sales, worse than expected. Usually this would take the pair higher but the market seems exhausted now after last week�s strong movement.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131022-All-eyes-on-the-US-for-the-release-of-the-Non-Far-Employment-report-pic-1.png

Technical Outlook
Although we had a slow day, price came very close to 1.3650 and bounced higher, confirming the fact that this level is now support. We anticipate a continuation of the bullish trend and a move close to 1.3710 but the day�s price movement will be highly affected by the US Non Farm Employment Change and the technical aspect will be somewhat secondary.

Fundamental Outlook
The main event of the day is the long-awaited release of the US Non Farm Employment report which was delayed due to the US government shutdown. The release is scheduled at 12:30 pm GMT and the anticipated number is 179K while the previous value was 169K. Higher numbers than expected suggest a thriving economy and increased job availability; usually this is perceived as bullish for the US Dollar and drives the pair lower.

GBP/USD

The pair�s movement was also sluggish and no major developments took place although the US Existing Home Sales numbers were worse than anticipated.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131022-All-eyes-on-the-US-for-the-release-of-the-Non-Far-Employment-report-pic-2.png

Technical Outlook
The pair moved slightly below 1.6170 but we don�t consider this a true break because it occurred on low volatility and at the moment, the bearish pressure is not very strong. However, price does seem exhausted and probably a move lower is needed before the pair will become appealing to the buyers again. An accurate technical prediction is hard to be made considering the important economic event scheduled today but the main levels to watch are 1.6170 and the resistance located at 1.6250.

Fundamental Outlook
The United Kingdom doesn�t release any important economic or financial data today so all eyes will be on the US Non Farm Employment report which is very likely to be a major market mover.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.24 :The Forex Market: Are the bulls prepared for another high?

EUR/USD

The Forex Market: The pair experienced a mixed day, with no clear direction and not a lot of volatility but this was expected after the strong rally seen a day before. No economic data was released and this contributed to the slow movement.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131024-Are-the-bulls-prepared-for-another-high-pic1.png

Technical Outlook
The pair took a breather yesterday and even retraced lower so it seems like the bulls are prepared to make another push to the upside. Minor resistance was created at 1.3790, the level which stopped the initial strong rally so breaking this barrier will be the buyers� first task. Yesterday�s retracement created a level of interest to the downside, at 1.3740 but our bias is bullish and we consider that moves to the downside will be stopped by this minor support.

Fundamental Outlook
Early at 07:30 am GMT the German Manufacturing Purchasing Managers� Index is released, with an anticipated increase from the previous 51.1 to 51.6. This is a leading indicator of economic health focused on the Manufacturing sector and derived from the opinions of about 500 purchasing managers so better than expected values usually strengthen the Euro.

The US will release at 2:00 pm GMT the New Home Sales numbers which offer insights into the housing market and consequently into the state of the economy because usually new homes are purchased in times of prosperity. The anticipated number is 427K, an increase from the previous 421K.

GBP/USD

Yesterday�s release of the Bank of England Meeting Minutes revealed the fact that all members of the Monetary Policy Committee voted against a Rate increase and this triggered Pound weakness so 1.6170 was touched again.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131024-Are-the-bulls-prepared-for-another-high-pic2.png

Technical Outlook
The resistance created at 1.6250 rejected prices lower and now a triple top is formed at this level. This is a very strong bearish pattern and it will be difficult for the bulls to overcome it but at the moment the level of 1.6170 is more important as price is sitting very close to it and market indecision is present. Minor support sits at 1.6115 and this will become the first target if price remains below 1.6170.

Fundamental Outlook
The United Kingdom didn�t schedule any important economical or financial data releases for today so the pair�s movement will be mostly driven by the US events and by the technical aspect of the market.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.25 : The Forex Market: Increased probability of a bearish retracement.

EUR/USD

The Forex Market: The economic data released yesterday was mixed and with no substantial differences compared to the anticipated figures. This translated into a rather slow day, with no clear direction but price remained above the minor resistance located at 1.3790.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131025-Increased-probability-of-a-bearish-retracement-pic1.png

Technical Outlook
Although the pair is still advancing, its movement has definitely slowed and it appears the bulls are starting to fade away. Yesterday the minor resistance located at 1.3790 was broken to the upside but afterwards, price didn�t move as strongly as we would expect after a true break and that�s a sign that lower prices are a distinct possibility but keep in mind that the uptrend is still intact and the underlying strength still belongs to the bulls.

Fundamental Outlook
At 08:00 am GMT the German Ifo Business Climate indicator will be released, with a small increase anticipated, from the previous 107.7 to 108.2. This survey is highly respected mostly due to its large sample size of about 7,000 businesses and also due to the fact that the German economy is the backbone of the Euro Zone economy.

Later at 12:30 pm GMT the US Durable Goods Orders will be announced; these are goods with a life expectancy of at least three years and orders for this type of goods usually increase in times of economic prosperity because a larger investment is needed for such a purchase. The anticipated value is 1.7%, a hefty increase from the previous 0.1%.

GBP/USD

No major developments took place yesterday and the pair moved above and below the level of 1.6170 but neither the bulls nor the bears could impose their will in a decisive manner.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131025-Increased-probability-of-a-bearish-retracement-pic2.png

Technical Outlook
Yesterday�s price action provides little clue about future direction but at the moment, the pair is trading above 1.6170. Once price moves away decisively from this level we will probably see a break of either the resistance located at 1.6250 or the support at 1.6115; if this scenario unfolds, we will possibly see a continued move in the direction of the break but until then, this should be considered a ranging market.

Fundamental Outlook
United Kingdom�s Preliminary Gross Domestic Product is released today at 08:30 am GMT and its value is expected to increase from the previous 0.7% to 0.8%. Most components of the GDP are known in advance and this makes it easier to forecast the actual value but the importance of the release remains very high. Better than expected values are beneficial for the Pound and may take the pair higher.

We hope you had a profitable trading week and we wish you a relaxing weekend.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.28 :The Forex Market: Buyers� strength starting to fade?

EUR/USD

The Forex Market: For the entire duration of Friday�s trading session, the pair moved in a range and no substantial advances were made by either the bulls or the bears. European and American data was mixed and this contributed to the pair�s lack of one sided direction.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131028-Buyers-strength-starting-to-fade-pic1.png

Technical Outlook
The pair is in need of a retracement lower considering the fact that it has been moving strongly to the upside for a rather long period. If the retracement will occur today, the level of 1.3740 is likely to offer support but is possible that price won�t travel the entire distance because usually Mondays are slow days in terms of price movement. To the upside, the first level of interest is located at 1.3865 but we consider it less likely to be touched today.

Fundamental Outlook
The US will release today 1:15 pm GMT the Industrial Production value which is expected to increase from the previous 0.4% to 0.5%. The indicator was delayed due to the US government shutdown and this makes its release more anticipated than usual. At 2:00 pm GMT the US Pending Home Sales numbers come out with a substantial increase expected, from the previous -1.6% to 0.5%. Better values for both indicators are likely to strengthen the greenback and to generate the retracement we talked about.

GBP/USD

Friday�s release of the British Gross Domestic Product initially strengthened the Pound and took the pair slightly higher but the move couldn�t be continued and the sellers took control for the rest of the day.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131028-Buyers-strength-starting-to-fade-pic2.png

Technical Outlook
The pair came very close to the resistance located at 1.6250 and was rejected lower again; this shows the fact that buyers� strength is starting to fade away and the uptrend is slowing or even reversing. At the moment price is confined between 1.6250 resistance and 1.6115 support and we consider the mentioned support to be the pair�s first target. Once and if price gets there, we must carefully watch its movement for clues about a bounce or break scenario.

Fundamental Outlook
The United Kingdom doesn�t release today any major economic or financial data so price action will mostly be driven by the US events mentioned earlier.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.29 : The Forex Market: US Retail Sales � the day�s market mover

EUR/USD

The Forex Market: Yesterday the United Stated posted a better than expected value for the Industrial Production indicator and the Pending Home Sales came out worse than anticipated but none of them created strong moves and the pair had a very slow session with price trading inside a range of about 40 pips.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131029-US-Retail-Sales-the-days-market-mover-pic1.png

Technical Outlook
Yesterday�s price action doesn�t provide much insight about future movement and we still believe that a more substantial retracement lower is in order before higher prices can be reached. The first support and also our first predicted target is 1.3740; the next level of importance to the downside is 1.3710 and resistance is located at 1.3865

Fundamental Outlook
It�s a busy day for the US and the most important event is the release of the Retail Sales scheduled at 12:30 pm GMT. Analysts anticipate a small decrease from the previous 0.2% to 0.1% and lower numbers usually weaken the greenback because the retail sector is the most important part of overall consumer spending. At the same time, the US Producer Price Index is released, with an anticipated decrease from the previous 0.3% to 0.2%. Higher prices charged by producers will eventually be passed on to the consumer and that�s why this indicator is considered to have inflationary implications; higher numbers usually strengthen the US Dollar. The release of both indicators was previously delayed due to the US government shutdown.

GBP/USD

The pair had a more active day, a retracement lower occurred and our predicted target was missed by just a few pips. The US data was mixed but we consider this retracement to be mostly triggered by technical factors.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131029-US-Retail-Sales-the-days-market-mover-pic2.png

Technical Outlook
At the moment it seems like the pair is starting to move higher and it�s experiencing a bounce although support was not reached. This doesn�t mean that a break of support is out of the question and probably today will offer more hints about the bounce-or-break scenario. The market should be still considered ranging, with support located at 1.6115 and resistance at 1.6250.

Fundamental Outlook
The UK Net Lending to Individuals value is released at 09:30 am GMT, an indicator which is correlated with consumer spending because higher debt values suggest that both lenders and consumers feel comfortable about the economic conditions. Today�s anticipated number is 2.5B, an increase from the previous 1.6B. Of course, the US events will have a direct impact on the pair.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.30 :The Forex Market: All eyes on the United States for Fed�s Monetary Policy Statement

EUR/USD

The Forex Market: Almost all US data released yesterday was worse than anticipated and this initially drove the pair higher but soon after, the Euro gave back all the gains and the greenback took control, finishing the day lower.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131030-All-eyes-on-the-United-States-for-Feds-Monetary-Policy-Statement-pic1.png

Technical Outlook
Our predicted target of 1.3740 was touched today and the fact that the pair fell despite bad US data shows us there is underlying Dollar strength and that lower prices may follow. Of course, the first task for the bears will be a break of 1.3740 support if the uptrend will reverse. The next and more important support is located at 1.3710 and resistance sits at 1.3830. A bounce higher is also a distinct possibility but today�s US events will have a high impact on the pair�s movement and the technical aspect is somewhat secondary.

Fundamental Outlook
The US Consumer Price Index will be released today at 12:30 pm GMT with a decrease anticipated from the previous 1.5% to 1.2%. Due to this indicator�s direct relation with inflation, higher values than anticipated usually strengthen the greenback. However, the most important event of the day is scheduled at 6:00 pm GMT: the US Interest Rate decision and Fed�s Monetary Policy Statement. The Rate is not expected to change from the current 0.25% but Fed�s statement will contain insights about the reasons that stood behind the rate decision and possible hints about future direction so it will most likely be the day�s market mover.

GBP/USD

Some analysts consider the British economy can�t sustain Pound�s recent gains and as a result, yesterday the pair dropped for a third day, breaking the support located at 1.6115.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131030-All-eyes-on-the-United-States-for-Feds-Monetary-Policy-Statement-pic2.png

Technical Outlook
Early during yesterday�s trading session the pair broke the support located at 1.6115 and soon after, returned from below to test it, a fact which confirmed the break was a real one. The rest of the day was controlled by the bears and it seems a new trend is developing. The Relative Strength Index is very close to oversold territory on an hourly and even four hour chart so moves higher are also possible.

Fundamental Outlook
The United Kingdom didn�t schedule any economic or financial releases for today so the pair will mostly be driven by the US events and by the technical aspect.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.10.31 : The Forex Market: Increased US Dollar strength amid economic optimism

EUR/USD

The Forex Market: The US Dollar strengthened amid hopes that US economy is able to pick up and move forward but the Federal Reserve maintained the stimulus program unchanged at $85 billion per month, saying that further improvements are needed.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131031-Increased-US-Dollar-strength-amid-economic-optimism-pic1.png

Technical Outlook
The resistance located at 1.3740 was broken decisively during yesterday�s trading session and price is now testing 1.3710. These are very important technical developments for future price direction and both the bears and the bulls may prevail because the US Dollar is still weak but it is showing signs of recovery. The next support is located at 1.3650 but the current level of 1.3710 is still not broken and may generate a bounce higher.

Fundamental Outlook
The German Retail Sales are released today at 07:00 am GMT and are expected to increase in value from the previous -0.2% to 0.5%. Sales at a retail level represent the major part of overall consumer spending and since the German economy is the backbone of the European economy, better than expected values will probably strengthen the Euro and take the pair higher.

The US will release the Unemployment Claims later in the day, at 12:30 pm GMT; a lower unemployment level suggests an improving economy so lower numbers for today�s release may strengthen the greenback. The expected value is 341K and the previous was 350K.

GBP/USD

After a slow initial rise, the pair fell yesterday on the back of a stronger US Dollar and the bears were in control for the rest of the day, managing to close the day lower.

http://www.gdmfx.com/wp-content/uploads/2013/10/20131031-Increased-US-Dollar-strength-amid-economic-optimism-pic2.png

Technical Outlook
On an hourly chart we can see a clear downtrend but a four hour chart shows us the pair is still inside a channel, with 1.5915 being the lower boundary and 1.6250 the upper one. The pair is heading towards the lower part of the channel but a re-test of 1.6115 from below is also possible, especially if the US data released today will be worse than anticipated.

Fundamental Outlook
The UK House Price Index is released today at 07:00 am GMT and it�s expected to decrease from the previous 0.9% to 0.7%, a fact which would negatively affect the Pound because the indicator is a gauge of the housing industry�s health. The US economic indicator mentioned earlier will have a direct impact on the pair.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.11.01 : The Forex Market: Ending the week under bears� control

EUR/USD

The Forex Market: The Euro severely weakened yesterday against most of its counterparts on the back of a much worse than anticipated value of the German Retail Sales. On top of that, an estimate of the Euro Zone Consumer Price Index was also lower than anticipated, contributing to the pair�s downfall.

http://www.gdmfx.com/wp-content/uploads/2013/11/2013.11.01-Ending-the-week-under-bears-control-pic1.png

Technical Outlook
Support levels were broken decisively yesterday while the pair moved almost 130 pips to the downside and at the moment the bears are in control. However, yesterday�s sell off is likely to have a retracement higher, especially considering the clear oversold condition of the Relative Strength Index on a four hour chart. The next support sits at 1.3480 but it is unlikely to be touched today; instead, we anticipate a touch from below of the level located at 1.3650 or a slow day in terms of distance traveled by the pair.

Fundamental Outlook
French and Italian banks will be closed today, celebrating All Saints Day and no economic indicators are released by the Euro Zone. At 2:00 pm GMT the US Manufacturing Purchasing Managers� Index comes out, with an anticipated value of 55.3, a small decrease from the previous 56.2. This is a leading indicator of economic health focused on the manufacturing sector and higher numbers than anticipated usually strengthen the greenback, driving the pair lower.

GBP/USD

UK�s House Price Index released yesterday was slightly better than anticipated and the pair had a pretty slow day, with a range of about 60 pips but price moved slowly to the upside.

http://www.gdmfx.com/wp-content/uploads/2013/11/2013.11.01-Ending-the-week-under-bears-control-pic2.png

Technical Outlook
The fact that yesterday the sellers didn�t manage to create a lower low does not shift our bearish bias and doesn�t change much in the overall picture. The pair is still headed towards the support located at 1.5915 but this target is not likely to be touched today unless some unexpected developments take place.

Fundamental Outlook
The United Kingdom will release today the Manufacturing Purchasing Managers� Index which is expected to decrease slightly from the previous 56.7 to 56.3. The indicator comes out at 09:30 am GMT and usually better numbers than anticipated strengthen the Pound. The US indicator with the same name will have a direct impact on the pair as well.

We hope you had a profitable trading week and we wish you a relaxing weekend.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.11.04 :The Forex Market: Strong support is delaying the bears� advance

EUR/USD

The Forex Market: The bears ended last week in complete control on the back of increased US Dollar strength generated by a better than expected value of the US Manufacturing Purchasing Managers� Index. For the whole day price moved to the down side and the pair finished almost 100 pips lower.

http://www.gdmfx.com/wp-content/uploads/2013/11/2013.11.04-Strong-support-is-delaying-the-bears-advance-pic-1.jpg

Technical Outlook
There is no doubt that on lower time frames like four hour and hourly, the market is heavily biased towards the down side and appears to be in a downtrend, but such an extended move needs to retrace higher. On a four hour chart the Relative Strength Index is showing a clear oversold condition and strong support is very close; this makes us believe that a move up must take place in order to clear the oversold condition. Once this is accomplished, price is likely to drop once again. At the moment 1.3480 is the most important level of support and it will be the day�s main focus.

Fundamental Outlook
At 08:15 am GMT the Spanish Manufacturing PMI is released; its value is expected to increase slightly from the previous 50.7 to 51.0. Half an hour later the Italian indicator with the same name is released and expected to increase from the previous 50.8 to 51.1. Both are leading indicators of economic health focused on the manufacturing sector and better than expected numbers usually strengthen the Euro.

GBP/USD

We anticipated a touch of 1.5915 but we didn�t expect this target to be reached Friday. However, US Dollar strength generated by better than expected data took the pair about 130 pips lower and the day finished very close to 1.5915.

http://www.gdmfx.com/wp-content/uploads/2013/11/2013.11.04-Strong-support-is-delaying-the-bears-advance-pic-2.jpg

Technical Outlook
The current level of 1.5915 is a very strong support and it is very likely that today price will bounce higher or move slowly above and below the level. The Relative Strength Index is showing an oversold condition and this fact backs up our opinion that further moves to the down side will occur only after a move up or a consolidation period.

Fundamental Outlook
Today at 09:30 am GMT the United Kingdom will release the Construction PMI, a survey based on the opinions of about 170 purchasing managers from the construction sector. The value is not expected to change from the previous 58.9 but usually, higher than expected numbers strengthen the Pound and take the pair higher.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.11.05 :The Forex Market: A new encounter with support levels?

EUR/USD

The Forex Market: The Spanish and Italian Manufacturing PMIs came out yesterday with values very close to the expected ones so the releases didn�t generate strong moves. The pair dipped below support but this move could not be sustained and price soon returned above 1.3480.

http://www.gdmfx.com/wp-content/uploads/2013/11/image002.jpg

Technical Outlook
Yesterday we mentioned we are expecting a retracement higher in order for price to move lower afterwards; this move up happened but we cannot be sure it is over. Price might as well continue to move a bit higher because the Relative Strength Index is still in oversold territory but we favor the bear side, especially after the indicator mentioned will come out of its oversold condition. The level of 1.3480 still remains the most important for short term movement.

Fundamental Outlook
The main event today is the release of the US Non-Manufacturing PMI which is a survey based on the opinions of about 400 purchasing managers from other sectors of the economy than manufacturing. The release is scheduled at 3:00 pm GMT and a slight decrease is expected, from the previous 54.4 to 54.2. Higher numbers usually strengthen the greenback and indicate a thriving economy.

GBP/USD

The pair moved mostly to the upside yesterday on the back of a better than anticipated value of the UK Construction PMI. Technical reasons like the oversold condition of the Relative Strength Index contributed to the pair�s bullish behavior as well.

http://www.gdmfx.com/wp-content/uploads/2013/11/image004.jpg

Technical Outlook
The move up was a much needed retracement after a period during which the bears were in complete control and at the moment the pair seems ready for another attempt at breaking the important support located at 1.5915; a continued move to the upside is not out of the question but the bias is bearish. Also, the economic data released today will probably have a hefty impact on price movement.

Fundamental Outlook
At 09:30 am GMT the United Kingdom releases the Services PMI which is a leading indicator of economic health focused on the Service sector. The expected figure is 60.4, a very small increase from the previous 60.3. Better than expected numbers usually strengthen the Pound and take the pair higher. The US data will have a direct impact on the pair as well.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[candle7779]

Results of 7 round of �Master Scalper�
Position Accont Number Contestant Login Balance
1 2781405 ANDI 5 916.00
2 2781644 riyaz22 3 874.85
3 2781398 Fern 2 407.00
4 2780974 Anfield 2 166.71
5 2782020 faster 2 162.24
6 2781259 Loginstein 1 949.14
7 2781641 Apophis 1 920.49
8 2781250 Andoff 1 880.00
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Oct 30 2013. 15:00 terminal time � Demo
details (http://accentforex.com/contest/demo-contest-master-scalper/results-of-master-scalper-contest)

[pasfx]

2013.11.14 : The Forex Market: The fundamentals steal the spotlight again

EUR/USD

The Forex Market: The Euro declined during the first part of yesterday�s trading session as an ECB official said that the Central Bank is prepared to take more measures to prevent possible deflation in the Euro Zone. The trading session was characterized by mixed direction, a lot of sharp reversals and alternating control between the bulls and the bears.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.14-The-fundamentals-steal-the-spotlight-again-pic-1-1024x479.png

Technical Outlook
As shown on the hourly chart above, the latest price action created a good resistance around the level of 1.3450 which is currently being tested. Lately the pair has been trading mostly sideways and neither the bulls nor the bears managed to surpass important levels. A break above 1.3450 may shift the balance of power in favor of the bulls and on the other hand, a bounce lower would confirm the fact that a downtrend is in place and the pair is headed lower.

Fundamental Outlook
Early at 07:00 am GMT the German Preliminary Gross Domestic Product is released. This is an economy�s most important gauge of overall performance and since Germany is the backbone of the entire Euro Zone, this indicator may prove to be a market mover, having a high impact on the pair. The anticipated figure is 0.3%, a decrease from the previous 0.7%. Two hours later, at 09:00 am GMT the ECB will release their Monthly Bulletin, containing detailed analysis of current and future economic conditions from the Bank�s point of view. Volatility may be generated at the time of release and we recommend caution if trading during that time.

At 3:00 pm GMT, Fed Chair-person Designate Janet Yellen will testify before the Senate Banking Committee in Washington. She read a prepared statement and will also answer questions coming from members of the Committee; this second part is most likely to create volatility.

GBP/USD

United Kingdom�s Claimant Count Change came out better than anticipated, strengthening the Pound; on top of that, Governor Carney suggested that interest rates may rise sooner than planned and this created the perfect setup for a totally bull-controlled day.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.14-The-fundamentals-steal-the-spotlight-again-pic-2-1024x479.png

Technical Outlook
The break of the support located at 1.5915 proved to be a false one but the fundamental aspect had a lot to do with the latest rise. If the Pound�s strength continues throughout the day, we will probably see a touch of 1.6115 resistance but this depends a lot on the data released today by the United Kingdom. The pair should be treated as ranging until we see a true break of the horizontal channel formed between 1.6250 and 1.5915.

Fundamental Outlook
The main UK event is the release of the Retail Sales scheduled at 09:30 am GMT. This is the primary gauge of consumer spending which represents the major part of the entire economy so better numbers usually strengthen the Pound. The forecast value is 0.0%, a decrease from the previous 0.6%.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.11.21 : The Forex Market: Lower prices fueled by bearish momentum

EUR/USD

The Forex Market: Finally after quite a long period the pair started to move south with determination yesterday, on the back of a better than anticipated value of the US Retail Sales. On top of that, the ECB signaled they consider a decrease of the deposit rate to boost the economy, a fact which weakened the Euro.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.21-Lower-prices-fueled-by-bearish-momentum-pic-1-1024x479.png

Technical Outlook
Positive news for the US Dollar combined with speculation of a potential deposit rate decrease for the Euro Zone triggered the sell off which took price below our predicted target of 1.3450. We expect this bearish momentum to continue during the days to come and the next target to be 1.3295 but this price is not likely to be touched today. Several minor support levels stand in front of falling prices and these are represented by the lowest points of the step pattern formed while price was going up, as seen on the picture above. A potential re-test of the recently broken support is very possible, especially because the Relative Strength Index is signaling an oversold condition on an hourly chart.

Fundamental Outlook
The German Manufacturing Purchasing Managers� Index is released today at 08:30 am GMT with an increase to 52.3 from the previous 51.7. This is a survey based on the opinions of about 500 managers from the Manufacturing sector and it�s also a leading indicator of economic health so better numbers than forecast usually strengthen the Euro.

The American Producer Price Index is released at 1:30 pm GMT with an expected value of -0.2% compared to the previous -0.1%. The indicator represents the change in prices charged by producers for their goods and services and under normal circumstances better values strengthen the US Dollar. The Philly Fed Manufacturing Index comes out at 3:00 pm GMT with a value of 15.8 which is a decrease from the previous 19.8 but a surprise increase may strengthen the greenback.

GBP/USD

During the first part of yesterday�s trading session price moved above 1.6115 but good US data brought it back down, close to support. Although the pair dropped, the move wasn�t as spectacular as the one seen on EUR/USD.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.21-Lower-prices-fueled-by-bearish-momentum-pic2-1024x479.png

Technical Outlook
The battle for 1.6115 is still not decided and as we saw yesterday, price initially moved comfortably above it before dropping to touch it again. The overall sentiment in the market is bearish at the moment but a return above 1.6115 is not out of the question. If price continues to move to the downside, the next important barrier in front of falling prices is located at 1.5915.

Fundamental Outlook
The United Kingdom didn�t schedule any major economic releases for the day and price action will be probably driven by the technical aspect and by the US events mentioned earlier.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.11.22 : Forex News: Mixed direction to end a difficult week

EUR/USD

Forex News: A surprise speech of ECB President Mario Draghi strengthened the Euro and took the pair back above 1.3450. On top of that, a worse than anticipated Philly Fed Manufacturing Index weakened the US Dollar and facilitated the move to the upside.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.22-Mixed-direction-to-end-a-difficult-week-pic1-1024x479.png

Technical Outlook
The bulls managed to bring price above 1.3450 on the back of Draghi�s favorable comments and now the level has turned into potential support, making the picture unclear once again. We maintain our bearish sentiment but acknowledge the fact that an important level sits in front of falling prices and it may take a while for it to be broken. The first resistance is now represented by 1.3495.

Fundamental Outlook
The German IFO Business Climate is announced at 09:00 am GMT and the expected value is 107.9, a small increase from the previous 107.4. This is a highly respected survey and its importance comes mostly from its large sample size of about 7,000 businesses. It�s a leading indicator of economic health and better than anticipated values usually strengthen the Euro. Half an hour later ECB President Mario Draghi will speak at the European Banking Congress in Frankfurt and as we saw many times before, his speeches can create huge volatility so we recommend caution if trading at the time.

GBP/USD

A UK indicator (Industrial Order Expectations) which is usually overlooked by market participants and has a mild impact on the market, rose the highest in almost two decades, substantially strengthening the Pound and generating a bullish day.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.22-Mixed-direction-to-end-a-difficult-week-pic2-1024x479.png

Technical Outlook
Lately the pair can�t seem to find a clear direction and is just oscillating above and below 1.6115. The highest point reached Wednesday (1.6177) will possibly act as minor resistance if price reaches it and the next important level is located at 1.6250. Support is once again located at 1.6115 but our bias is somewhat neutral on the pair, waiting for a clear break of either support or resistance.

Fundamental Outlook
The United Kingdom didn�t schedule any important data releases for the day so the pair�s movement will be mostly affected by the technical side of the market.

We hope you had a profitable trading week and we wish you a relaxing weekend.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[leebelisar]

Thanks for sharing. How is this one different to EA? Or this is also considered as part of EA?

[pasfx]

2013.11.27 :Forex News:The Bulls are testing resistance again. Bounce or break

EUR/USD

Forex News: Yesterday�s better than expected numbers for the US Building Permits briefly strengthened the US Dollar but soon after the pair resumed its upward movement and the resistance located at 1.3570 was touched.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.27-The-Bulls-are-testing-resistance-again.-Bounce-or-break-pic-1-1024x479.png

Technical Outlook
During yesterday�s trading session, 1.3570 resistance was touched twice and each time price failed to move above it, suggesting that lower moves are possible today. However, a break of resistance will probably bring in additional buyers and the uptrend will be resumed. If price moves higher, the market will probably become overbought on an hourly and even four hour chart so false breaks of resistance may occur.

Fundamental Outlook
The main event of the day is the announcement of the US Durable Goods Orders scheduled at 1:30 pm GMT and expected to decrease from the previous value of 3.8% to -1.5%. More orders for durable goods suggest a higher consumer confidence regarding the economic situation as such goods require a larger investment from the buyer. If the actual value is higher than anticipated, the Dollar may strengthen and the pair can move lower.

GBP/USD

During the Inflation Report Hearings, hawkish comments made by Governor Mark Carney strengthened the Pound, taking the pair higher and determining the main direction for the day.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.27-The-Bulls-are-testing-resistance-again.-Bounce-or-break-pic-2-1024x479.png

Technical Outlook
The pair is still ranging but the buyers seem to have more strength than the sellers. However at the moment neither bulls nor bears are in control and almost all moves in one direction are reversed the next day. Out bias is neutral on the pair, waiting for a touch of the resistance located at 1.6250 or the support located at 1.6115.

Fundamental Outlook
At 09:30 am GMT the UK Gross Domestic Product is released; this is the broadest measure of an economy�s performance and higher numbers strengthen the currency. For today�s release no change is anticipated from the previous 0.8%.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.11.28 :The Forex Market:Can the buyers sustain price above resistance

EUR/USD

The Forex Market: The Euro strengthened yesterday against the greenback as German politicians reached an accord regarding wages without increasing taxes and as a result the pair moved above 1.3570 resistance.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.28-Can-the-buyers-sustain-price-above-resistance-pic1-1024x477.png

Technical Outlook
Although the resistance was broken, the pair started to move to the downside, finishing close to yesterday�s opening price. This price movement created a pin candle on the Daily charts which is a sign of rejection; possible moves to the downside may follow, proving that yesterday�s move above resistance is just a false break. If price continues to the upside, 1.3570 will become support but at the moment price is hovering close to this level so the picture is not very clear.

Fundamental Outlook
At 1:30 pm GMT the German Preliminary Consumer Price Index comes out with an expected increase from the previous -2.0% to 0.1%. Since this is the primary gauge for consumer inflation, higher numbers usually strengthen the Euro and take the pair higher. US Banks will be closed celebrating Thanksgiving Day so the US session will probably be characterized by low volatility.

GBP/USD

The release of the UK Gross Domestic Product which met expectations was perceived extremely bullish by market participants and the result was a break of the horizontal channel to the upside.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.28-Can-the-buyers-sustain-price-above-resistance-pic2-1024x477.png

Technical Outlook
The pair had an extremely bullish day yesterday, traveling almost 140 pips to the upside but it also retraced during the second part of the day, creating a long wick in the upper side of the daily candle. The retracement could be a re-test of the broken channel or a sign that the initial break was a false one. At the moment we cannot consider the break to be a true one although the momentum belongs to the bulls.

Fundamental Outlook
The main event of the day is Mark Carney�s speech related to the UK Financial Stability Report. Both the report and the speech take place at 10:30 am GMT and volatility is expected, especially because the Governor will probably talk about the stability of the current monetary system and make an assessment of potential risks.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.11.29 : Forex News: Market direction affected by economic indicators

EUR/USD

Forex News: The Euro gained yesterday against the greenback as the German CPI showed an increase, exceeding analysts� predictions and as a result, the pair traded the entire day above support.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.29-Market-direction-affected-by-economic-indicators-pic1-1024x479.png

Technical Outlook
The level of 1.3570 has turned now into support after being re-tested from above and successfully pushing price higher. Yesterday�s price action created a resistance zone around 1.3610 and this will be the first barrier in front of rising prices. On a four hour chart the Relative Strength Index is very close to the overbought territory so we might see retracements lower especially if the 70 level of the indicator will be surpassed.

Fundamental Outlook
Early at 07:00 am GMT the German Retail Sales numbers come out with an anticipated increase from the previous -0.6% to 0.5%, a fact which would probably trigger further Euro strength and higher prices for the pair. Later in the day, at 10:00 am GMT the Euro Zone CPI Flash Estimate is announced and anticipated to slightly increase from the previous 0.7% to 0.8%. Since the Consumer Price Index is the Euro Zone�s main inflation gauge, higher than anticipated values will probably take the pair higher.

GBP/USD
The bulls continued to dominate the market and Governor Mark Carney�s speech pushed the Pound higher against the US Dollar, consolidating previous gains.

http://res.gdmfx.com/wp-content/uploads/2013/11/2013.11.29-Market-direction-affected-by-economic-indicators-pic2-1024x479.png

Technical Outlook
The level of 1.6250 was almost touched from above, resulting in a bounce higher and turning it into support. The pair is clearly under bulls� control and 1.6380 seems to be the next target but the Relative Strength Index is already signaling an overbought condition of the market so we consider a break of this level less likely to happen today.

Fundamental Outlook
At 09:30 am GMT the United Kingdom will announce the Net Lending to Individuals which is expected to increase from the previous 1.9B to 2.1B. The net lending is correlated with consumer spending and confidence because people spend more when they feel confident about the economic conditions. Higher numbers than anticipated usually strengthen the Pound, taking the pair higher.

We hope you had a profitable trading week and we wish you a relaxing weekend.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.02 :Forex News: Bullish momentum declines in front of strong resistance

EUR/USD

Forex News: The mixed values of the economic data which came out didn�t create the expected volatility and Friday was a surprisingly slow day, with price moving in a 40 pip narrow range. The strongest move of the day came late in the trading session and consisted in a drop towards support.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.02-Bullish-momentum-declines-in-front-of-strong-resistance-pic1-1024x479.png

Technical Outlook
Friday�s price action created minor resistance at 1.3620 and price started to move towards 1.3570 which was already re-tested from above so now it can be considered support. If during the day the pair will touch the mentioned level and bounce higher, we consider 1.3620 to be the first target. Today is a busier day than usual in terms of economic and data so price action will be influenced by the fundamental side of the market.

Fundamental Outlook
Fed Chairman Ben Bernanke will speak today at the National College Fed Challenge in Washington DC. His public speeches often trigger strong moves and we recommend caution if trading at the time; the speech is scheduled at 1:30 pm GMT. Later in the day, at 3:00 pm GMT the US Manufacturing Purchasing Managers� Index is released and expected to decrease from the previous value of 56.4 to 55.2. Since this is a leading indicator of economic health, better than expected figures usually strengthen the greenback and take the pair lower.

GBP/USD

Friday the Pound continued to strengthen against the US Dollar and the pair made its first encounter since the beginning of the year with the crucial level located at 1.6380.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.02-Bullish-momentum-declines-in-front-of-strong-resistance-pic2-1024x479.png

Technical Outlook
Price is currently trading near a very important level which represents a two-year high. It is unlikely to see a break of such a powerful level on the first attempt; usually price stalls or even retraces when strong levels are reached, unless an important economic or financial event pushes it right through. On top of that, the four -hour Relative Strength Index signals an overbought condition and this makes us believe that a break of 1.6380 will not occur today.

Fundamental Outlook
The Pound will be affected today by the release of the UK Manufacturing Purchasing Managers� Index which is a survey derived from the opinions of about 600 managers from the manufacturing sector and which acts as a leading indicator of economic health. The release is scheduled at 09:30 am GMT and the expected figure is 56.5 while the previous value was 56.0. The US events mentioned earlier will have a direct impact on the pair�s direction.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.03 : The Forex Market: The door is open for a shift of power

EUR/USD

The Forex Market: The pair started its descent yesterday on the back of a better than expected US Manufacturing PMI which came out with a value of 57.3 compared with the forecast of 55.2. The US Dollar strengthened as a result and the pair broke support.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.03-The-door-is-open-for-a-shift-of-power-pic1-1024x479.png

Technical Outlook
The support located at 1.3570 was broken by a strong four hour candle which went right through it, making us believe this is a true break and lower prices will follow. A re-test from below of the broken level is very possible and if that happens, price behavior will show if the break was indeed real or fake. The first support is located at 1.3450 at the moment and the level of 1.3570 may provide resistance although it is not confirmed yet.

Fundamental Outlook
Today is slow in terms of economic data and no major releases are scheduled by either the US or the Euro Zone. Price direction will be influenced by the technical aspect and by any unscheduled news which may come out.

GBP/USD

Early Monday morning the pair spiked above 1.6380 and a new high was printed. However, the move couldn�t be sustained and the bears took price below 1.6380 quickly after and this drop couldn�t be reversed even by a better than anticipated UK Manufacturing PMI.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.03-The-door-is-open-for-a-shift-of-power-pic2-1024x479.png

Technical Outlook
The move above 1.6380 couldn�t be sustained and now we are anticipating a touch from below of this level, followed by lower prices. However the pair might continue on a bearish path even if price doesn�t return first to the mentioned level. If price moves to the upside, it will probably encounter resistance around 1.6442 which is the new high and also the point from where the pair reversed yesterday.

Fundamental Outlook
The Pound will be affected today by the release of the UK Construction Purchasing Managers� Index which is scheduled at 09:30 am GMT. The forecast figure is 59.3 and the previous value was 59.4; since this is a leading indicator of Construction activity and economic health, better than expected numbers normally strengthen the Pound.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.11.04 :Forex News: Resistance holds � lower prices expected

EUR/USD

Forex News: The predicted shift of power didn�t occur yesterday but the bulls didn�t manage either to make substantial advances. A Spanish report related to unemployment showed much better than anticipated results and this strengthened the Euro, generating a totally bullish day.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.04-Resistance-holds-lower-prices-expected-pic-1-1024x479.png

Technical Outlook
The pair moved back above 1.3570 so the re-test from below of this level failed and neither side is in control from a four hour chart perspective. However, rising prices have resistance ahead, located at 1.3620, a level which is very close to current price. If a bounce lower occurs, the level of 1.3570 will be the first barrier in front of falling prices and in case it is broken once more to the downside, the next support will be located at 1.3525.

Fundamental Outlook
The most important event of the day for the single currency is the release of the Euro Zone Retail Sales, scheduled at 10:00 am GMT and expected to increase from the previous -0.6% to 0.2%, a fact which would strengthen the Euro, taking the pair higher. At the same time the Euro Zone Gross Domestic Product is released, with no change anticipated from the current 0.1%.

The United States will release at 1:15 pm GMT the ADP Non Farm Employment Change which is a report created by a privately owned company, not the US Government. However, this report usually offers hints about the Government employment data which comes out 2 days later and has the potential to be a strong market mover; the forecast is 172K and the previous was 130K. Later in the day, at 3:00 pm GMT the US New Home Sales are announced, giving an insight into the housing market and acting as a gauge of economic health. The expected figure is 432K and a higher number usually brings the pair lower on the back of US Dollar strength.

GBP/USD

Yesterday�s British Construction PMI was much better than anticipated and as a result the pair had another close encounter with the level of 1.6440.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.04-Resistance-holds-lower-prices-expected-pic-2-1024x479.png

Technical Outlook
The resistance located at 1.6440 could not be broken even if UK data came out better than anticipated and this offers us hints about the weakening of the uptrend. We can notice a double top pattern on the four hour chart which is a very powerful bearish formation and this offers more strength to the level of 1.6440. We anticipate a move to the downside, with 1.6380 being the first target.

Fundamental Outlook
At 09:30 am GMT the UK releases the Services PMI which is a survey based on the opinions of purchasing managers from the Services sector and also a leading indicator of economic health. The expected value is 62.1, a small decrease from the previous 62.5 and usually better than anticipated figures strengthen the Pound. The US events mentioned earlier will have a direct impact on the pair.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.05 : The Forex Market: Technical analysis overshadowed by the release of Interest Rates

EUR/USD

The Forex Market: The ADP Non Farm Employment report came out much better than anticipated yesterday and this strengthened the US Dollar, driving the pair lower. But soon after the release, the Euro recovered and brought the pair back up, close to the point where the drop begun.

Technical Outlook
Yesterday�s price action doesn�t offer any clues about future short term direction. As we could see, the pair displayed a �V� shaped pattern on an hourly chart after 1.3525 was almost touched. Lately the level of 1.3570 is broken with ease and price doesn�t seem to respect it much so today�s most important levels will be 1.3620 as resistance and 1.3525 as support.

Fundamental Outlook
The fundamental side of the market will be the most important today and S/R levels will probably be broken at the time of the ECB Press Conference which follows the Interest Rate decision. The Euro Zone Interest Rate is not expected to change from the current 0.25% and probably the market will react stronger to Mario Draghi�s attitude and answers during the Press Conference than to the actual rate release. Almost always this event creates very strong volatility and sharp moves. The Interest Rate will be announced at 12:45 pm GMT and the Press Conference is scheduled at 1:30 pm GMT. At the same time of 1:30 pm GMT the US Gross Domestic Product is announced, showing the economy�s overall performance. The forecast is a small increase from the previous 2.8% to 3.0% and if it comes true, we might see US Dollar strength,

GBP/USD

The Pound dropped below 1.6380, on the back of a worse than anticipated value of the Services PMI, but recovered later in the day and the trading session was characterized by mixed movement.


Technical Outlook
At the moment the pair is re-testing from below the level of 1.6380 and the result is very important for medium term price direction. If the level holds and turns once again into resistance, we will probably see an extended move to the south, probably towards 1.6250. A move back above this level will make 1.6440 the first target for the bulls. Today�s important financial events will overshadow the technical aspect.

Fundamental Outlook
It�s an important day for the Pound as the Interest Rate will be announced at 12:00 pm GMT. Although no change is expected from the current value of 0.50%, the event is considered a market mover and volatility is anticipated. At the same time the Asset Purchase Facility value will be announced, showing the amount of money the Bank of England will create in order to purchase assets in the market with the purpose of stabilizing the currency. Lower values are perceived as beneficial for the Pound. Of course the US events will have a direct impact on the pair.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.06 :Forex News: Today�s headline � the US Non Farm Employment report

EUR/USD

Forex News: Yesterday the Euro strengthened and the pair rose to a 5-week high on the back of hawkish comments made by ECB President Mario Draghi who gave no indication about introducing a negative deposit rate and also refrained from adding further monetary stimulus.

http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.06-Todays-headline-the-US-Non-Farm-Employment-report-pic-1-1024x479.png

Technical Outlook
After an initial move to the down side, the pair rallied and the resistance located at 1.3620 was broken decisively. It appears as the control belongs to the bulls once again and 1.3710 might be the next target which may be touched even without a re-test of the broken resistance. The fundamental side of the market continues to hold center stage today and the technical aspect will be secondary.

Fundamental Outlook
The main event of the day is represented by the release of the US Non Farm Employment report which is scheduled at 1:30 pm GMT. This is the most anticipated report regarding the US employment situation and has a huge impact on the market almost always. Today�s expected value is 180K, a substantial decrease from the previous month�s 204K. Worse than expected numbers usually affect negatively the US Dollar and drive the pair higher.

The US Consumer Confidence report will be announced later in the day, at 2:55 pm GMT, with an anticipated value of 76.2, a small increase from the previous 75.1. Consumer confidence is strongly related to consumer spending so better than anticipated numbers for today�s release will be beneficial for the greenback.

GBP/USD

The pair briefly moved above the resistance located at 1.6380 and then continued to the down side for almost the entire day. The United States announced better than expected data yesterday and this had a stronger impact on the Pound than on the Euro.

http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.06-Todays-headline-the-US-Non-Farm-Employment-report-pic-2-1024x479.png

Technical Outlook
The break below 1.6380 is a sign of uptrend weakness and shows an increased possibility for the pair to touch the next support located at 1.6250. However, the power of the bulls must not be underestimated and moves into 1.6380 are a distinct possibility as well. A lot depends on the US Non Farm Employment report and an accurate technical prediction is hard to make.

Fundamental Outlook
The United Kingdom doesn�t release any high impact data today so all eyes will be on the US events mentioned earlier which will almost certainly have a strong impact on the pair.

We hope you had a profitable trading week and we wish you a relaxing weekend.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.09 : The Forex market: Euro Group Meetings � a reason for volatility

EUR/USD

The Forex Market: Friday�s better than expected US Non Farm Employment data initially brought the pair lower but positive Euro sentiment generated by Mario Draghi�s comments made Thursday hindered an extended move south. As a result, the pair had a bullish day and important resistance was touched.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.09-Euro-Group-Meetings-a-reason-for-volatility-pic-1-1024x479.png

Technical Outlook
After a perfect touch of the support located at 1.3620 price started to move to the upside, solidifying the control of the bulls, but now important resistance sits in front of higher prices: 1.3710 which was the previous high of the year. On a four hour chart we notice the Relative Strength Index is approaching the 70 level which indicates an overbought condition of the market and this makes a break of resistance less likely although not impossible.

Fundamental Outlook
At 11:00 am GMT the German Industrial Production numbers will be released, showing the change in the total output generated by the Industrial sector. The expected figure is 0.8%, a hefty increase from the previous -0.9%. Better than expected numbers show increased industrial activity and usually drive the pair higher. The Euro Group meetings take place today, attended by important personalities of the financial and political scene. This may translate into volatility and hard to trade movements, depending on the matters discussed.

GBP/USD

The US Dollar strengthened against the Pound at the time of the Non Farm Employment report release but soon after, the pair moved up, touching resistance before moving south once again. As a result, Friday�s trading session was very difficult for intraday traders.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.09-Euro-Group-Meetings-a-reason-for-volatility-pic-2-1024x479.png

Technical Outlook
The resistance located at 1.6380 was touched Friday but a swift bounce lower occurred shortly after. This proves the power of this resistance level and gives us hints about future price direction which appears to be down. However, another touch of 1.6380 is not out of the question as a downtrend is not established and first support is located at 1.6320.

Fundamental Outlook
In the second part of the day, at 5:15 pm GMT, Bank of England Governor Mark Carney will speak at the Economic Club of New York and usually strong moves are seen during his speeches so we recommend caution if trading at the time. No economic indicators are released by the United Kingdom and we expect a quiet trading session, at least until Mark Carney�s speech.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.10 : Forex News:The bulls refuse to give up control

EUR/USD

Forex News: The pair moved at a very slow pace yesterday and no major developments took place as volatility remained low for almost the entire day and price moved in a 50 pip range.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.10-The-bulls-refuse-to-give-up-control-pic-1-1024x479.png

Technical Outlook
Although the session was very slow, the pair crawled above the resistance located at 1.3710 but we don�t consider this to be a decisive break which will generate additional moves to the upside. Price seems undecided about the next direction and the Relative Strength Index on a four hour chart is signaling an overbought condition which may trigger a retracement lower. However, the uptrend is still intact and a successful re-test of the broken level may result in higher prices.

Fundamental Outlook
The day is pretty slow in terms of economic indicators released by the Euro Zone or the United States and the most important event is represented by the ECOFIN meetings which will be attended by Finance Ministers of the EU member states. Although the meetings are closed to the press, sometimes officials speak to journalists during the day and an official statement will be released once the meetings have concluded.

GBP/USD

The pair experienced a strong bullish day, with price moving steadily to the upside after a close encounter with support which generated a clear break of the resistance located at 1.6380.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.10-The-bulls-refuse-to-give-up-control-pic-2-1024x479.png

Technical Outlook
On an hourly chart the Relative Strength Index is showing a clear overbought condition of the market and 1.6440 resistance is sitting in front of rising prices. This makes us believe that a retracement will occur if price touches this level while the overbought condition is still valid. However, a break above resistance would renew the uptrend, bringing in additional buyers.

Fundamental Outlook
The UK Manufacturing Production is announced today at 09:30 am GMT with an expected decrease from the previous 1.2% to 0.4%. Lower numbers suggest diminished economic activity and may weaken the Pound, driving the pair lower. Later in the day, at 3:00 pm GMT an estimate of the UK Gross Domestic Product will be released; the previous value was 0.7% and estimates above this value may strengthen the bullish sentiment.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.11 : Forex News: Overextended prices call for a retracement

EUR/USD

Forex News: The Euro maintained and even increased its gains against the US Dollar and we are experiencing the longest continuous rise in almost a year. Price is trading above 1.3710 and the yearly high located at 1.3832 is in jeopardy.

http://res.gdmfx.com/wp-content/uploads/2013/12/image001.jpg

Technical Outlook
The break of 1.3710 resistance proved to be a real one and more bulls joined the rally, taking price even higher and although the Relative Strength Index is showing an overbought condition of the market, the pair keeps rising. Under normal circumstances we would anticipate a retracement lower but considering the latest strength shown by the Euro, we acknowledge the increased probability of a touch of the resistance located at 1.3830.

Fundamental Outlook
We have a very slow day ahead, with the single notable event being the release of the German Final Consumer Price Index. The event is scheduled at 07:00 am GMT but no change is expected from the current 0.2%; however, higher values usually strengthen the Euro.

GBP/USD

The pair had a rather slow day and price moved mostly sideways although the UK Gross Domestic Product Estimate came out better than anticipated.

http://res.gdmfx.com/wp-content/uploads/2013/12/image002.jpg

Technical Outlook
The resistance located at 1.6440 is still holding even if it was tested several times during yesterday�s trading session. Price is moving above and below the mentioned level and the bullish rally seems exhausted. No major developments took place yesterday and this makes it hard to predict with accuracy the pair�s next move. Consequently, our sentiment is neutral on the pair but we slightly favor a retracement lover.

Fundamental Outlook
The United Kingdom doesn�t release any major economic or financial indicators and we expect price direction to be mostly driven by technical factors.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.12 :The Forex Market: The day�s important events will shape market behavior

EUR/USD

The Forex Market: The Euro extended its gains for the seventh consecutive day against the US Dollar on a growing belief among market participants that ECB will not cut rates in the near future. However, yesterday�s advance wasn�t a strong one and resistance was not touched.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.12-The-days-important-events-will-shape-market-behavior-pic1-1024x479.png

Technical Outlook
The resistance located at 1.3830 wasn�t threatened yesterday but price continues to trade higher and the overbought condition of the pair is still present. We consider 1.3830 a good place for the rally to stop and for price to move sideways or even reverse. However, today�s technical aspect will be secondary as we have a day full of news releases ahead.

Fundamental Outlook
The first important event of the day is the speech of ECB President Mario Draghi which is scheduled at 08:00 am GMT. The President will talk about ECB policy at the European Parliament debate in Strasbourg, and the speech will most likely create volatility, as most of his public appearances do. An hour later the ECB will release the Monthly Bulletin containing the Banks viewpoint on current and future economic conditions and will also reveal the data which was analyzed when the interest rate decision was made.

The United States will announce the Retail Sales at 1:30 pm GMT and since this is the most important gauge of consumer spending at a retail level, the release usually has a high impact on the market. Analysts expect a small increase from the previous 0.4% to 0.6%, a fact which could strengthen the greenback.

GBP/USD

The bears started to make their presence known yesterday and as a result the pair begun to fall below 1.6440, making a break of 1.6380 possible.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.12-The-days-important-events-will-shape-market-behavior-pic2-1024x479.png

Technical Outlook
Although price moved slightly above the resistance located at 1.6440 during previous days, this proved to be a false break and the bulls ran out of steam, allowing price to fall. However, price is trading very close to the support located at 1.6380 and we cannot consider this level broken. If the pair chooses to move above support, it may revisit 1.6440 resistance.

Fundamental Outlook
United Kingdom didn�t schedule any major news releases for today so the pair�s direction will be mostly influenced by the US Retail Sales and by the technical aspect.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.13 :Forex News: A potentially ranging day due to lack of major events

EUR/USD

Forex News: After seven straight days of upward movement the pair finally started to retrace lower on the back of better than anticipated values of the US Retail Sales which strengthened the greenback.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.13-A-potentially-ranging-day-due-to-lack-of-major-events-pic-1-1024x479.png

Technical Outlook
The crucial resistance located at 1.3830 wasn�t touched before price started to move south, mostly because the drop was triggered by good US data; however, price was overextended and in need of a move lower. We anticipate the retracement to find support around 1.3710 but the uptrend is still intact and move to the upside are highly probable.

Fundamental Outlook
The only notable event of the day is the release of the US Producer Price Index which shows the change in prices charged by producers for their goods and services. This is a leading indicator of consumer inflation because a higher price charged by producers will eventually generate a higher price paid by the client. The release is scheduled at 1:30 pm GMT and the expected change is 0.0% while the previous was -0.2%; usually higher values strengthen the greenback.

GBP/USD

Better than expected US data strengthened the US Dollar against the Pound as well and the pair continued the descent started a day earlier. Although we had a couple of bearish days, neither bulls nor bears are in complete control from a four hour chart perspective.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.13-A-potentially-ranging-day-due-to-lack-of-major-events-pic-2-1024x479.png

Technical Outlook
Yesterday�s drop was stopped by the support level located at 1.6315 which proves once more to be a strong barrier in front of falling prices. Although the latest move was bearish, an extended drop is not highly probable considering the fact that lately the pair has been moving in a horizontal channel on the four hour chart so a bounce higher can occur as the bottom part of the channel was touched. However, a break of 1.6315 will probably trigger a move into 1.6250 support.

Fundamental Outlook
The United Kingdom didn�t schedule any major news releases for today so the direction of the pair will be influenced by the US event mentioned earlier and by technical factors.

We hope you had a profitable trading week and we wish you a relaxing weekend.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.16 :The Forex Market: Mixed movement ahead of ECB President Mario Draghi�s testimony

EUR/USD

The Forex Market: Friday the bears maintained their short-term control and the pair continued to move to the downside, touching the support level located at 1.3710. However, price didn�t travel a huge distance and the day had no special events.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.16-Mixed-movement-ahead-of-ECB-President-Mario-Draghis-testimony-pic1-1024x479.png

Technical Outlook
For the moment the support located at 1.3710 is able to stop and even reject price higher as seen Friday and the uptrend is still strong, a fact which may trigger moves to the upside. On the other hand, the pair climbed for an extended period of time so it may need a bigger retracement lower before price can go higher, resuming the uptrend. If this is the case, 1.3710 will be broken to the downside today.

Fundamental Outlook
At 08:30 am GMT, Germany will announce the Manufacturing Purchasing Managers� Index, a survey derived from the opinions of about 500 purchasing managers from the manufacturing sector. The anticipated figure is 53.1, an increase from the previous 52.7. Since this is a leading indicator of economic health, better than anticipated numbers normally strengthen the Euro.

The most significant event of the day will be ECB President Mario Draghi�s speech, which is scheduled at 2:00 pm GMT. The President will testify on monetary policy in front of the European Parliament�s Committee on Economic and Monetary Affairs, in Brussels and the event is likely to have a strong impact on the market, depending on his attitude. We recommend caution if you will be trading at the time.

GBP/USD

The pair moved below the support located at 1.6315 on the back of increased US optimism and the balance of power is starting to shift in favor of the bears.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.16-Mixed-movement-ahead-of-ECB-President-Mario-Draghis-testimony-pic2-1024x479.png

Technical Outlook
The level located at 1.6315 is very important for the pair�s movement from a four hour chart perspective as it rejected price several times before being broken. This makes its break an important event and shows us the strength the US Dollar has compared to the Pound. Further price declines are possible and we expect an encounter with the support located at 1.6250 after a re-test from below of the broken level of 1.6315.

Fundamental Outlook
The United Kingdom didn�t schedule any news releases for today and we expect price action to be mostly driven by the technical aspect.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.20 :Forex News: Finishing the week on a bearish note

EUR/USD

Forex News: Yesterday the pair had a calm trading day compared to the wild moves generated a day before by Fed�s decision to decrease the monetary stimulus from $85 billion to $75 billion per month, a fact which was perceived as bullish for the US Dollar.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.20-Finishing-the-week-on-a-bearish-note-pic-1-1024x479.png

Technical Outlook
The pair traded in a narrow 40 pip range almost the entire day, sitting on the support located at 1.3650 after a clear break of 1.3710. Yesterday�s price action doesn�t offer a lot of clues about future direction but the latest momentum belongs to the bears both from a technical and a fundamental point of view and we anticipate a break to the downside of 1.3650.

Fundamental Outlook
Early at 07:00 am GMT the German Producer Price Index is released, showing the change in prices charged by producers compared to the previous months. The indicator has inflationary implications and usually better than expected numbers strengthen the Euro. For today�s release an increase is expected from the previous -0.2% to 0.0%.

The US Final Gross Domestic Product is announced at 1:30 pm GMT with no change anticipated from the previous 3.6%. This is the economy�s most important performance gauge so higher values indicate increased activity and consequently a stronger greenback.

GBP/USD

United Kingdom�s Retail Sales came out with the expected value and the event didn�t generate strong moves. The pair traveled mostly sideways, above and below 1.6380.

http://res.gdmfx.com/wp-content/uploads/2013/12/2013.12.20-Finishing-the-week-on-a-bearish-note-pic-2-1024x479.png

Technical Outlook
The strong move to the upside experienced Wednesday failed to break the resistance located at 1.6440 and although price pierced through it, a retracement lower soon followed, making things uncertain once again. The US Dollar benefits from the recent monetary stimulus reduction so moves lower are expected, probably a touch of 1.6315 support. To the upside, first resistance is represented by 1.6440.

Fundamental Outlook
The United Kingdom will announce the Final Gross Domestic Product at 09:30 am GMT but no change is anticipated from the previous 0.8%; however, better than anticipated values are usually beneficial for the Pound and may take the pair higher. The US Final GDP will directly affect the pair as well.

We hope you had a profitable trading week and we wish you a relaxing weekend.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.23 :The Forex Market: Sluggish movement as the countdown to Christmas begins EUR/USD The Forex Market: Friday the Euro managed to make up for some of the losses suffered earlier in the week and the pair touched the resistance located at 1.3710 in what proved to be a day mostly controlled by the bulls. http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.23-Sluggish-movement-as-the-countdown-to-Christmas-begins.-picture-1-1024x477.png Technical Outlook After a false break of 1.3650, price rose to touch 1.3710 and at the moment the pair is showing rejection at this level. The latest direction is down so we consider Friday�s rise just a retracement after the sharp fall seen last week. For today, we anticipate another attempt at breaking 1.3650, but also a slow day based on the lack of major economic releases. Fundamental Outlook At 1:30 pm GMT the US Personal Spending indicator is released, showing the change in consumer spending which is a major part of the American economy; the anticipated value is 0.5% compared to the previous 0.3% and usually better numbers strengthen the US Dollar, suggesting a thriving economy. GBP/USD The pair moved mostly sideways during Friday�s trading session but a sudden move up pierced through the resistance located at 1.6380. http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.23-Sluggish-movement-as-the-countdown-to-Christmas-begins.-picture2-1024x477.png Technical Outlook Friday�s move up was quickly reversed and this shows us that lower prices are very probable. But for price to move lower the first barrier located at 1.6315 must be broken; if this will occur today, the door will be open for another attempt at breaking 1.6250 support, but we don�t expect such a move to be completed today. To the upside, the first resistance is located at 1.6380 and it may be revisited before price decides to move to the downside. Fundamental Outlook The United Kingdom didn�t schedule any economic indicators for today so the only influence will come from the US event mentioned earlier and from technical factors. Written by: Bogdan Giulvezan The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market. Source of article from the best forex broker (http://www.gdmfx.com/?ib=207). YM: [email protected] | Skype : gdmfxindonesia Indonesia Email Support: [email protected]

[pasfx]

2013.12.26 :Forex News: Trading in a market still influenced by the winter holidays

EUR/USD

Forex News: Yesterday the market was closed in celebration of Christmas Day and as anticipated, no economic indicator or significant news came out.

http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.26-Trading-in-a-market-still-influenced-by-the-winter-holidays-pic1-1024x477.png

Technical Outlook
Even if the market is open today, the volume will be low and irregular price movement is likely to be experienced. We expect a move close to 1.3650 but not a break of this level. Keep in mind that a technical prediction cannot be very accurate due to the low volume we mentioned.

Fundamental Outlook
Most European Banks are still closed today and the only notable event is the release of the US Unemployment Claims. The indicator comes out at 1:30 pm GMT with an expected increase from the previous 379K to 382K. Higher unemployment levels suggest a contracting economy and usually weaken the US Dollar so for today�s release, lower numbers may strengthen the greenback and drive the pair south.

GBP/USD

Christmas day brought us an untradeable market and no other special financial events took place, so price action will pick up where it left off.

http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.26-Trading-in-a-market-still-influenced-by-the-winter-holidays-pic2-1024x477.png

Technical Outlook
We anticipate a bounce off 1.6380 resistance and a move lower towards the support located at 1.6315 but low volume and irregular price action are almost a certainty and this makes technical analysis very difficult and less reliable. Nonetheless, price will move today but we don�t expect any significant developments.

Fundamental Outlook
Today the United Kingdom didn�t schedule any news releases and price direction will be mostly influenced by the US Unemployment Claims numbers. British Banks are closed today as well.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.27 :Forex News: A slow day to end Christmas week

EUR/USD

Forex News: The US Unemployment Claims came out with a lower than anticipated value, strengthening the US Dollar and reversing an initial move higher but for the entire day price moved just about 40 pips.

http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.27-A-slow-day-to-end-Christmas-week-pic1-1024x477.png

Technical Outlook
The pair made an attempt to touch 1.3710 resistance but the bulls didn�t have enough steam to maintain such a high price and the direction soon reversed. Although the distance traveled during yesterday was rather small, the latest momentum seems to be bullish and moves close to 1.3710 may be seen today. However, we don�t anticipate a break of this level and we favor a bounce lower if it is touched.

Fundamental Outlook
Today no major indicators are released and low volume is still present.

GBP/USD

The Pound strengthened against the US Dollar yesterday although better data came out of the United States but we attribute this mostly to the winter holidays than to technical or fundamental reasons.

http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.27-A-slow-day-to-end-Christmas-week-pic2-1024x477.png

Technical Outlook
The resistance located at 1.6440 is threatened as price came very close to it yesterday but in the past we have seen price move above this level only to return below it soon after so we anticipate the same thing to happen today. A real break of this important level is less likely and we favor a move towards the support located at 1.6380.

Fundamental Outlook
No significant economic or financial indicators were scheduled by either the United States or the United Kingdom so we anticipate a slow day, still influenced by low trading volume.

We hope you had a good week and we wish you a relaxing weekend.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.30 :Forex News: Ending the trading year with mixed market direction

EUR/USD

Forex News: Friday was by no means a calm day as anticipated and low volume combined with comments about a potential ECB rate increase and probably position adjusting for the end of year performed by major banks created a massive move up followed by a significant drop.

http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.30-Ending-the-trading-year-with-mixed-market-direction-pic1-1024x477.png

Technical Outlook
After the failed attempt at breaking 1.3830 resistance, the momentum belongs to the bears and we anticipate a move into the support located at 1.3710. The next important level is located at 1.3650 but technical analysis is less reliable during this time of the year and irregular movement is a distinct possibility.

Fundamental Outlook
At 3:00 pm GMT the US Pending Home Sales are released, with an anticipated increase from the previous -0.6% to 1.1%. Usually, better than expected values for this indicator strengthen the greenback and take the pair lower but given the current market conditions, the effect is hard to predict.

GBP/USD

Friday was a wild day for the GBP/USD pair as well, with price traveling almost 170 pips to the upside and then dropping about 120 pips. This movement was mostly generated by increased UK optimism regarding economic growth and by low volume in the market.

http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.30-Ending-the-trading-year-with-mixed-market-direction-pic2-1024x477.png

Technical Outlook
We have a new high located at 1.6577 but the bulls couldn�t maintain such a price and the resistance level of 1.6550 (better observed on a zoomed out chart) is still intact. More than that, price was pushed lower after the failed break and we consider that continued moves to the downside have a high probability of occurring. The levels to watch are 1.6550 as resistance and 1.6440 as support.

Fundamental Outlook
The United Kingdom didn�t schedule any economic or financial indicators for today so price direction will be influenced by the US event mentioned earlier and will be made difficult by the end of year low volume.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2013.12.31 :Forex News: Price action stops in anticipation of the New Year

EUR/USD

Forex News: Yesterday�s only important economic indicator � the US Pending Home Sales � came out with a worse than expected value and as a result the US Dollar lost strength and price moved to the upside for almost the entire day.

http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.31-Price-action-stops-in-anticipation-of-the-New-Year-pic1-1024x477.png

Technical Outlook
European Banks and most brokerages around the world are closed today in observance of New Year�s Eve so price action will stall and not much action will be seen. Trading will resume on the second day of next year.

Fundamental Outlook
The only economic indicator of the day is released by the US in the form of the Consumer Confidence which is scheduled at 3:00 pm GMT and expected to increase from the previous 70.4 to 76.5. The effect of this release is hard to predict given the special circumstances of the day.

GBP/USD

The pair had a bullish movement throughout the day on the back of worse than anticipated US data and price came close to the resistance located at 1.6550 but a break of this level was out of the question.

http://www.gdmfx.com/wp-content/uploads/2013/12/2013.12.31-Price-action-stops-in-anticipation-of-the-New-Year-pic2-1024x477.png

Technical Outlook
As mentioned before, movement in the market will be almost nonexistent and most brokerages, including ours are closed.

Fundamental Outlook
The United Kingdom didn�t schedule any news releases for the day and although the US Consumer Confidence is released, it will not have a significant effect on the market.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.02 :Forex News: First trading day of the year still affected by low volume

EUR/USD

Forex News: Yesterday we had a non-trading day as the market was closed in celebration of New Year�s Day and no economic or financial indicators were released.

http://www.gdmfx.com/wp-content/uploads/2014/01/2014.01.02-First-trading-day-of-the-year-still-affected-by-low-volume-pic1-1024x477.png

Technical Outlook
The latest period has been difficult to trade due to the winter holidays which brought low volume and irregular movement. Price resumed its action today but the direction is still uncertain due to the reasons mentioned above. The main levels of immediate interest remain 1.3710 as support and 1.3830 as resistance.

Fundamental Outlook
The United States will release at 3:00 pm GMT the Manufacturing Purchasing Managers� Index which is a survey derived from the opinions of about 400 purchasing managers from the manufacturing sector. The expected figure is 56.8, a small decrease from the previous 57.3 and since this is a leading indicator of economic health, better than expected numbers usually strengthen the greenback.

GBP/USD

The 1st of January brought the market to a stop and just like all other pairs, the GBP/USD had no movement.

http://www.gdmfx.com/wp-content/uploads/2014/01/2014.01.02-First-trading-day-of-the-year-still-affected-by-low-volume-pic2-1024x477.png

Technical Outlook
Price made a double top at 1.6577 which is a strongly bearish chart pattern and the main resistance located at 1.6550 is still holding although it was pierced two times during the latest period. First support is located at 1.6440 but the market is hard to predict as low volatility is still present and surprising moves may still be experienced.

Fundamental Outlook
At 09:30 am GMT the United Kingdom releases the Manufacturing Purchasing Managers� Index which is expected to decrease almost insignificantly from 58.4 to 58.3. Better than expected values are beneficial for the Pound and normally help the pair climb but today�s release may have a hard to predict influence over the market.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.03 :Forex News: The beginning of the year belongs to the bears

EUR/USD

Forex News: During the first trading day of the year, price moved strongly to the down side and although US economic data was not better than anticipated, the support located at 1.3710 was broken.

http://www.gdmfx.com/wp-content/uploads/2014/01/2014.01.03-The-beginning-of-the-year-belongs-to-the-bears-pic1-1024x477.png

Technical Outlook
The level of 1.3710 was broken in a pretty decisive manner but the drop was stopped by the next support located at 1.3650. A break of this barrier will open the door for a touch of the next important support located at 1.3550, but first we anticipate a move up to re-test the broken 1.3710 and possibly turn it into resistance once again. If this scenario unfolds, the bears will probably control short to medium term price action and the pair will travel lower, towards 1.3550.

Fundamental Outlook
Today no major economic releases are scheduled by either the United States or Europe and we expect a day mostly driven by the technical aspect.

GBP/USD

United Kingdom�s Manufacturing Purchasing Managers� Index came out with a lower value than initially anticipated and this weakened the Pound, allowing the pair to move sharply to the down side for almost the entire day.

http://www.gdmfx.com/wp-content/uploads/2014/01/2014.01.03-The-beginning-of-the-year-belongs-to-the-bears-pic2-1024x477.png

Technical Outlook
The latest momentum is clearly bearish but the level of 1.6440 stopped yesterday�s strong move, showing that higher prices are not out of the question. If this barrier is broken to the down side, price is likely to visit the next support, located at 1.6315. However, the pair traveled quite a big distance yesterday so a retracement higher is very possible, although we don�t expect a move up (if any) to reach 1.6550 again.

Fundamental Outlook
The United Kingdom will release today at 09:30 am GMT the Construction Purchasing Managers� Index which is expected to slightly decrease from the previous 62.6 to 62.3. This is a leading indicator of economic health focused on the Construction sector and usually better than anticipated values strengthen the Pound, driving the pair higher.

We hope you had a profitable trading week and we wish you a relaxing weekend.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.06 :Forex News: A busy Monday with potentially dynamic price action

EUR/USD

Forex News: Friday the pair continued the move lower started Thursday and the support located at 1.3650 was broken decisively without a retracement higher. The move was mostly triggered by technical factors as no high-impact economic indicators came out.

http://www.gdmfx.com/wp-content/uploads/2014/01/2014.01.06-A-busy-Monday-with-potentially-dynamic-price-action-pic1-1024x477.png

Technical Outlook
The latest momentum definitely belongs to the bears but price traveled quite a long distance without a significant retracement higher and the Relative Strength Index is showing an oversold condition. This makes us believe that a move up is needed before price can advance lower. A good place for a bullish move to reverse is located at 1.3650, the recently broken level. The first lower barrier is represented by 1.3550.

Fundamental Outlook
At 1:00 pm GMT the German Consumer Price Index is released and expected to increase from the previous 1.3% to 1.4%. This indicator measures inflation and higher than anticipated values usually strengthen the Euro. At 3:00 pm GMT the US Non Manufacturing PMI (Purchasing Managers� Index) is released; the expected figure is 54.6, a slight increase from the previous 53.9. Being a leading indicator of economic health, better than anticipated figures could strengthen the greenback.

The last event of the day is US Senate�s vote regarding the nomination of Janet Yellen as Federal Reserve Chairperson but the late hour (10:30 pm GMT) of the vote may generate less movement than anticipated as usually volatility subsides at that time.

GBP/USD

Friday�s UK data came out with a close to anticipated value, a fact which did not generate strong moves but the pair traveled south nonetheless. However, moves to the upside also occurred and the trading session had a rather mixed direction.

http://www.gdmfx.com/wp-content/uploads/2014/01/2014.01.06-A-busy-Monday-with-potentially-dynamic-price-action-pic2-1024x477.png

Technical Outlook
Although the support located at 1.6440 was broken Friday, a move above it is not out of the question, especially because the break wasn�t a decisive one. The first major victory of the bears would be a break of 1.6250 support but we don�t expect such a move to occur today although we favor the short side of the market and a move towards 1.6315.

Fundamental Outlook
Early at 09:30 am GMT the United Kingdom will release the Services PMI, a survey based on the opinions of purchasing managers from the services sector who are asked to rate the current business conditions. Today�s expected value of the indicator is 60.4, a slight increase from the previous 60.0 and better than anticipated numbers are beneficial for the Pound. Of course, the US events mentioned earlier will have a direct impact on the pair.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.07 :Forex News: A clash with resistance levels

EUR/USD

Forex News: Yesterday we saw the US Dollar weaken against the Euro on the back of a worse than anticipated value of the US Non Manufacturing PMI which indicated a slower pace of economic growth and was perceived as bearish for the greenback.

http://djd4e2sva5hnm.cloudfront.net/wp-content/uploads/2014/01/2014.01.07-A-clash-with-resistance-levels-pic1-1024x477.png

Technical Outlook
The expected bullish retracement occurred yesterday and the pair traveled north for another encounter with 1.3650 resistance. We anticipate moves to the down side if this level holds but a break would make 1.3710 the next target for the pair and also the next place where price is likely to reverse and start moving south again.

Fundamental Outlook
Early at 08:55 am GMT the German Unemployment Change is released, offering insights into the job-market situation of Europe�s most influential economy. The expected figure is -1K compared to the previous 10K and usually smaller than expected numbers are beneficial for the Euro as they suggest that jobs are easily available and the economy is thriving.

GBP/USD

Although yesterday�s trading session started on a bearish note, the US data which came out during the day weakened the greenback and allowed the pair to climb towards 1.6440.

http://djd4e2sva5hnm.cloudfront.net/wp-content/uploads/2014/01/2014.01.07-A-clash-with-resistance-levels-pic2-1024x477.png

Technical Outlook
Since the beginning of the year, the pair has been moving to the down side and we consider this behavior to continue today as well. Very important for short term direction is the way price reacts near the current level of 1.6440; we anticipate a bounce lower and a move towards 1.6315 but a break to the upside is not out of the question and would indicate that bulls are not ready yet to give up their control.

Fundamental Outlook
The United Kingdom doesn�t release today any important economic indicators but the US will announce their Trade Balance at 1:30 pm GMT and this has the potential to be a high-impact indicator for both our pairs. The expected figure is -40.2B while the previous is -40.6B and usually higher than anticipated numbers are beneficial for the US economy as they indicate a smaller deficit.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.08 :Forex News: Resistance holds. Bearish movement might resume

EUR/USD

Forex News: German unemployment dropped during the previous month as showed by the report which came out yesterday but the US Trade Balance data was also better than anticipated and this created mixed price action as both currencies strengthened.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.08-Resistance-holds.-Bearish-movement-might-resume-pic1-1024x477.png

Technical Outlook
When both currencies in a pair strengthen on the back of better than anticipated economic data, we can expect a lot of sharp reversals, without significant advances. This was the case yesterday and what appeared to be a bearish move was reversed and the pair finished the day close to where it started it. However, the resistance located at 1.3650 is still holding so we maintain our bearish bias, anticipating a move towards the support located at 1.3550.

Fundamental Outlook
The Euro Zone Retail Sales are released at 10:00 am GMT with an anticipated increase from the previous -0.2% to 0.2%, a fact which would strengthen the euro if it were to come true, but the main event of the day will be the release of the FOMC Meeting Minutes. These will come out later in the day, at 7:00 pm GMT and will contain important insights into the reasons that stood behind the latest Federal Funds Rate vote.

GBP/USD

Yesterday�s price action was rather mixed and no significant developments took place. The resistance located at 1.6440 was touched but not threatened.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.08-Resistance-holds.-Bearish-movement-might-resume-pic2-1024x477.png

Technical Outlook
We maintain our bearish stance as long as price remains below 1.6440 although the pair didn�t bounce lower as anticipated. Yesterday�s trading session was ranging and price didn�t travel a substantial distance so we believe today we will have a more active day, with a potential touch of 1.6315 support. A clear break above 1.6440 would invalidate this scenario for the moment.

Fundamental Outlook
The United Kingdom doesn�t release any major economic or financial indicators today so price action will be mostly influenced by the technical aspect and by the US events.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.09 :Forex News: All eyes on the Interest Rates � an important day ahead

EUR/USD

Forex News: Yesterday�s trading session was mostly bearish ahead of the FOMC Meeting Minutes and once they were released, price action became choppy, with a lot of mixed, up and down movement on the lower time frames.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.09-All-eyes-on-the-Interest-Rates-an-important-day-ahead-pic1-1024x477.png

Technical Outlook
The support located at 1.3550 was touched yesterday as anticipated and the bears solidified their short-term control. A break of the current level of support would be a very important victory for the sellers and will most likely affect the pair�s medium-term direction. Our bias remains bearish but bounces higher are very possible, depending on the outcome of the day�s fundamental events.

Fundamental Outlook
The most anticipated event of the day is the ECB Press Conference which is scheduled at 1:30 pm GMT. The ECB announces the Interest Rate decision 45 minutes earlier, but no change is anticipated from the current 0.25% and we believe the Press Conference will be the day�s market moving event. President Mario Draghi will speak at the Conference and will answer journalists� questions, most likely generating strong moves, depending on his attitude and matters discussed.

GBP/USD

Before the FOMC Minutes, the pair broke the resistance located at 1.6440 with a strong candle but the move was reversed and currently the pair is trading very close to the mentioned level.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.09-All-eyes-on-the-Interest-Rates-an-important-day-ahead-pic2-1024x477.png

Technical Outlook
The next direction is hard to anticipate but the break of 1.6440 resistance doesn�t seem to be one that will generate additional movement to the up side. It is very possible for the pair to move in a ranging fashion until the UK Interest Rate will be released and a direction will be probably established afterwards.

Fundamental Outlook
Bank of England will announce their Interest Rate decision at 12:00 pm GMT, together with the Asset Purchase Facility value. No change is anticipated for either the Interest Rate (0.50%) or the Asset Purchase Facility (375B) but usually an increase of the rate or a decrease of the purchase facility value are considered beneficial for the Pound. Overall, we anticipate a high volatility trading session, especially at the time of the events mentioned.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.10 :Forex News: Choppy price action ahead of the Non Farm Employment report

EUR/USD

Forex News: The Euro zone interest rate remained unchanged at 0.25% as analysts predicted but ECB President Mario Draghi talked about maintaining low rates in the future as well and this weakened the Euro, allowing the pair to touch support once again.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.10-Choppy-price-action-ahead-of-the-Non-Farm-Employment-report-pic1-1024x477.png

Technical Outlook
The support located at 1.3550 couldn�t be broken and the sharp drop caused by Draghi�s comments was soon reversed. Despite the latest move up, we believe the pair will break support today or during the days to come. The medium term control still belongs to the bears and the effects of Mario Draghi�s comments are likely to be greater than we have seen so far. To the upside, 1.3650 remains strong resistance.

Fundamental Outlook
The main event of the day is the release of the US Non Farm Employment Change scheduled at 1:30 pm GMT. This is crucial data concerning the employment situation in the United States and it always has a tremendous impact on the market. The expected figure is 194K, a decrease from the previous 203K and usually higher than anticipated numbers strengthen the US Dollar, driving the pair lower.

GBP/USD

Both the UK Interest Rate and the Asset Purchase Facility remained unchanged and the expected volatility wasn�t present, except some erratic action at the time of the release.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.10-Choppy-price-action-ahead-of-the-Non-Farm-Employment-report-pic2-1024x477.png

Technical Outlook
The pair remained above the level of 1.6440 but no significant advances were made by either bulls or bears. We still don�t consider the break of 1.6440 to be one that can generate additional moves to the upside and our view on the pair is neutral at the moment. Direction will be decided by the outcome of the US Non Farm Employment data which is likely to influence medium term movement.

Fundamental Outlook
The United Kingdom announces at 09:30 am GMT the Manufacturing Production numbers, with no change expected from the current 0.4%. A higher than expected value suggests increased economic activity and a potentially stronger Pound. Of course, the US employment data remains the day�s headline and will have a high impact on the pair.

We hope you had a profitable trading week and we wish you a relaxing weekend.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.13 :Forex News: Ranging price action between support and resistance

EUR/USD

Forex News: Friday�s headline was the much worse than expected number for the US Non Farm Payrolls, which triggered a massive move up based on US Dollar weakness. Resistance was broken and the bulls control short term momentum.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.13-Ranging-price-action-between-support-and-resistance-pic1-1024x477.png

Technical Outlook
The strong move up brought the Relative Strength Index in the overbought territory and price started to move sideways, showing exhaustion. We anticipate a move lower and a touch of the recently broken level of 1.3650. If this potential touch will trigger a bounce higher, 1.3650 will become support and the pair will head towards 1.3710. There is also a distinct possibility for the pair to continue to move sideways most of the day, especially because no major economic indicators are released today.

Fundamental Outlook
The only notable event of the day comes out at 7:00 pm GMT in the form of the US Budget Balance. The expected figure is 44.0B, a big increase from the previous -135.2B; better than expected numbers have the potential to strengthen the US Dollar, taking the pair lower.

GBP/USD

Worse than anticipated UK Manufacturing Production numbers triggered an initial move lower but the unexpected value of the US Employment Change generated US Dollar weakness and took the pair well above the resistance located at 1.6440.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.13-Ranging-price-action-between-support-and-resistance-pic2-1024x477.png

Technical Outlook
We expect a quiet and ranging day, mostly because no major economic indicators are released and usually Mondays are slow in terms of price movement. Although the latest momentum belongs to the bulls, a significant high has not been made and 1.6550 resistance wasn�t threatened so moves to the downside are not out of the question. The levels to watch today are 1.6440 and 1.6550.

Fundamental Outlook
As mentioned before, today the United Kingdom didn�t schedule the release of significant economic or financial indicators so price action will be mostly influenced by the technical aspect.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.14 :Forex News: US Retail Sales � a potential market-mover

EUR/USD

Forex News: The pair had a pretty slow trading session, with price confined in a 50 pip range for almost the entire day. Although the day had a bearish bias, no substantial developments took place.

http://res.gdmfx.com/wp-content/uploads/2014/01/image001-1024x477.png

Technical Outlook
The level of 1.3650 was tested from above and appeared to be broken but price soon returned above it. At the moment the picture is not clear and we must wait to see if this touch generates a bounce higher or if the level will be broken. If the bulls take price higher, the first barrier in front of rising prices is located at 1.3685, a minor resistance created by yesterday�s price action.

Fundamental Outlook
The most anticipated event of the day is the release of the US Retail Sales numbers scheduled at 1:30 pm GMT. The indicator shows the change in the total value of sales made at a retail level and is a very accurate gauge of economic activity. Better values than the expected 0.2% (previous 0.7%) have the potential to strengthen the US Dollar and drive the pair lower.

GBP/USD

The Pound weakened substantially against the US Dollar during yesterday�s trading session and the pair decisively broke support, traveling about 160 pips lower.

http://res.gdmfx.com/wp-content/uploads/2014/01/image003-1024x477.png

Technical Outlook
Yesterday�s drop nullified the gains made Friday by the pair on the back of a worse than expected value of the US Non Farm Employment report and short term control now belongs to the bears. For today�s trading session we anticipate a continued move to the downside and an encounter with the support level located at 1.6315.

Fundamental Outlook
United Kingdom�s Consumer Price Index comes out at 09:30 am GMT with an anticipated value of 2.1%, (unchanged from last month�s value). The indicator is UK�s main inflation gauge as it is being used by the Bank of England as an inflation target. Values outside certain ranges may determine the Bank of England to adjust interest rates to counter inflation and usually, higher than expected values of this indicator strengthen the Pound and take the pair higher. The US Retail Sales numbers will have a direct impact on the pair.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.15 :Forex News: Breaking out of the ranging period?

EUR/USD

Forex News: The US Retail Sales came out yesterday with the expected value of 0.2% and the market remained rather neutral for almost the entire day, mostly because no other major indicators were released.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.15-Breaking-out-of-the-ranging-period-pic1-1024x477.png

Technical Outlook
After the strong move up seen last week the pair started to move sideways and nothing much happened during the first two days of the week. The previous resistance located at 1.3650 was successfully tested from above and it became support, a fact which usually triggers a continuation of the trend but no significant higher high was created and the new minor resistance located around 1.3685 is still holding. At the moment we are neutral on the pair, anticipating a break of either resistance (1.3685) or support (1.3650).

Fundamental Outlook
We have a pretty slow day ahead, with the only notable indicator being the US Producer Price Index which shows the changes in prices charged by producers for their goods and services. The expected value is 0.5%, an increase from the previous -0.1% and the time of the release is 1:30 pm GMT; usually better than expected values are beneficial for the US Dollar and drive the pair lower.

GBP/USD

The Pound strengthened against the greenback on the back of increased optimism regarding the economic situation and as a result, the pair climbed back above 1.6440 resistance.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.15-Breaking-out-of-the-ranging-period-pic2-1024x477.png

Technical Outlook
The ranging movement continues and the pair doesn�t seem to choose a clear direction. All moves are reversed the next day so an accurate prediction regarding the next move is difficult to make. We are slightly biased towards the short side, expecting a move back below 1.6440 but today�s direction will probably be affected by Mark Carney�s testimony.

Fundamental Outlook
At 2:15 pm GMT the Governor of the Bank of England will testify at the Treasury Committee Hearing in London about the Financial Stability Report. This testimony is likely to have a strong impact on the pair and we recommend caution if trading at the time of his speech.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.16 :Forex News: The bears are regaining control

EUR/USD

Forex News: The US Dollar strengthened significantly during yesterday�s trading session, mostly because the US Producer Price Index posted better numbers than its previous value. This was seen as a sign of improvement in economic conditions and a hint that the Fed will keep tapering the stimulus.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.16-The-bears-are-regaining-control-pic1-1024x477.png

Technical Outlook
The resistance created at 1.3685 proved to be too strong for the pair to break and price traveled south for almost the entire duration of yesterday�s trading session, breaking decisively the support located at 1.3650. We expect the bearish price movement to continue today, but a retracement higher is needed, considering the oversold condition signaled by the Relative Strength Index on an hourly chart. To the down side, the first target for the pair is 1.3550 support.

Fundamental Outlook
The first event of the day is the release of the Euro Zone Consumer Price Index, scheduled at 10:00 am GMT and expected to remain unchanged at 0.8%. The indicator shows the fluctuations in prices paid by consumers for the goods and services they purchase and it�s the main gauge for inflation; higher values than anticipated usually take the pair higher. Later in the day, at 1:30 pm GMT the US Consumer Price Index is released, with an anticipated increase from the previous 0.0% to 0.3%.

The last important event of the day is the release of the US Philly Fed Manufacturing Index which is a survey of about 250 manufacturers from the Philadelphia district and also a leading indicator of economic health. The expected figure is 8.8, an increase from the previous 7.0 and usually better than expected numbers suggest optimism and strengthen the greenback.

GBP/USD

During his speech yesterday, BoE Governor Mark Carney suggested that a substantial increase in interest rates is not expected. This fact, combined with good US economic data took the pair lower, for a touch of 1.6315 support.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.16-The-bears-are-regaining-control-pic2-1024x477.png

Technical Outlook
Although the pair moved considerably lower, we are still not out of the ranging period and moves to the upside are very likely, especially if the support located at 1.6315 is not broken soon. A break of this level would open the door for a move into the major support located at 1.6250 and would count as a big victory for the bears.

Fundamental Outlook
The United Kingdom didn�t schedule any important releases for today so price movement will be mostly influenced by the US events and by the technical aspect of the market.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.17 :Forex News: Finishing the trading week below support?

EUR/USD

Forex News: The Euro Zone and US Consumer Price Indexes both came out with the anticipated values and this created a rather mixed trading environment, characterized by a quick reversal. However, the value of the Philly Fed Manufacturing index exceeded analysts� expectations and the US Dollar strengthened in the second part of yesterday�s trading session.

http://res.gdmfx.com/wp-content/uploads/2014/01/image0011-1024x477.png

Technical Outlook
The level of 1.3650 was successfully tested from below yesterday, turning it into resistance again and indicating the fact that price is heading south during the next period. Price action formed minor support around 1.3580 and breaking it will be the first task which must be accomplished by the bears before making an attempt at breaking 1.3550 support.

Fundamental Outlook
At 2:55 pm GMT the University of Michigan will release the Consumer Sentiment index which is based on the opinions of about 500 surveyed consumers. The survey is a leading indicator of consumer spending and usually has a high impact on the pair�s movement. The previous value was 82.5 while the forecast is 83.4 and higher numbers have the potential to strengthen the greenback.

GBP/USD

During yesterday�s trading session, no special developments took place and the pair had difficult to trade movement, with sharp reversals on the lower time frames.

http://res.gdmfx.com/wp-content/uploads/2014/01/image0031-1024x477.png

Technical Outlook
Price tried several times to break the support located at 1.6315 but failed so moves to the upside are a distinct possibility. However, eventually the level will give way but it remains to be seen if the break will occur today. From a strictly technical point of view, we anticipate a break of support but the British Retail Sales numbers which come out today will have a big impact on the pair�s movement.

Fundamental Outlook
As mentioned, the United Kingdom Retail Sales come out today and have the potential to be the day�s market mover for the Pound. The event is scheduled at 09:30 am GMT and an increase is anticipated from the previous 0.3% to 0.5%. Since sales made at a retail level represent the majority of all consumer spending, better than expected numbers usually strengthen the Pound. The US events will also have a direct impact on the pair.

We hope you had a profitable trading week and we wish you a relaxing weekend.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.20 :Forex News: Slow movement generated by the lack of major economic releases

EUR/USD

Forex News: Although Friday the US Consumer Sentiment showed a worse than expected value, the pair continued to drop, clearly breaking 1.3550 support and suggesting that bulls are losing control of the pair.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.20-Slow-movement-generated-by-the-lack-of-major-economic-releases-pic1-1024x477.png

Technical Outlook
The break of 1.3550 support opens the door for a move into 1.3455 daily support but at the moment the Relative Strength Index shows an oversold condition on an hourly chart so we anticipate a move up to re-test the recently broken level, followed by a bounce lower. We have a pretty slow day in terms of economic releases so it�s very likely that price will move in a ranging manner.

Fundamental Outlook
US banks are closed today, celebrating Martin Luther King Day so the US session will lack trading volume. The Euro will be affected by the German Producer Price Index which comes out early at 07:00 am GMT and shows fluctuations in price charged by producers for their goods. The expected value is 0.2%, an increase from the previous -0.1% and usually better numbers are beneficial for the Euro but the indicator is considered to have a medium impact on the pair.

GBP/USD

The expected value for the UK Retail Sales was 0.5% but the actual was 2.6%, a huge increase which generated a massive move up and took the pair into resistance once again.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.20-Slow-movement-generated-by-the-lack-of-major-economic-releases-pic2-1024x477.png

Technical Outlook
The bullish move seen Friday was generated by fundamental reasons but the resistance located at 1.6440 managed to stop the initial impulse. If the pair fails to break this resistance today, we believe that during the days to come, price will start to move to the downside, towards the place where the move originated (1.6315). Given that usually Mondays are slow days and no fundamental events take place, we don�t believe the pair will make substantial advances to either side.

Fundamental Outlook
The United Kingdom didn�t schedule any economic or financial releases and this fact combined with the US Banks being closed may generate ranging price action.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.21 :Forex News: Today�s headline � the ZEW Economic Sentiment survey

EUR/USD

Forex News: Yesterday�s trading session lacked major economic releases and price had a slow but steady bullish direction. Overall, we had a calm day, without sharp reversals.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.21-Todays-headline-the-ZEW-Economic-Sentiment-survey-pic1-1024x477.png

Technical Outlook
The oversold condition of the market resulted in a move up which couldn�t be reversed immediately by the level of 1.3550. However, we still favor a move to the downside and consider yesterday�s movement just a retracement. If price reaches it, 1.3580 might be a good place for a turn south and trend resumption.

Fundamental Outlook
At 10:00 am GMT the German ZEW Economic Sentiment is released, with an anticipated value of 63.4, an increase from the previous 62.0. This is a survey based on the opinions of about 275 German institutional investors and analysts who are asked to rate the current economic conditions and to offer their outlook for the next 6 months. Better than expected numbers can strengthen the Euro substantially as this indicator is perceived as a high-impact one.

GBP/USD

The pair ranged for almost the entire session and we witnessed another failed attempt at breaking the resistance located at 1.6440. No economic indicators were released by either the US or the United Kingdom and this greatly contributed to the pair�s lack of clear direction.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.21-Todays-headline-the-ZEW-Economic-Sentiment-survey-pic2-1024x477.png

Technical Outlook
The fact that price tried to break 1.6440 resistance and failed makes us believe that another move towards 1.6315 will follow. The pair doesn�t show a clear trend and in a ranging market both bullish and bearish moves are likely to occur but the fact that buyers didn�t manage to break resistance after last week�s strong impulse makes us favor a scenario where sellers will step in and take price lower.

Fundamental Outlook
The United Kingdom doesn�t release today any major economic indicators so price action will be influenced by the technical aspect of the market.


Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.23 :Forex News: Euro ready for a breakout. Pound close to the year�s high

EUR/USD

Forex News: During yesterday�s trading session the pair continued to move mostly sideways, without clear direction. No major news came out from either Europe or the United States and this greatly contributed to the slow movement.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.23-Euro-ready-for-a-breakout.-Pound-close-to-the-years-high-pic12-1024x477.png

Technical Outlook
Given the latest ranging price action, we are neutral on the pair in anticipation of a clear move which may offer some light regarding the pair�s direction. The pair has been trading in a narrow range for the entire week so a breakout is imminent but the direction is hard to anticipate.

Fundamental Outlook
At 08:00 am GMT the French Manufacturing Purchasing Managers� Index is released, with an anticipated increase from the previous 47.0 to 47.6. Half an hour later the same indicator for the German economy is released and expected to increase from 54.3 to 54.7. These are leading indicators of economic health based on the opinions of purchasing managers from the manufacturing sector and better than anticipated numbers usually strengthen the Euro.

GBP/USD

The pound strengthened substantially against the US Dollar as unemployment levels fell to 7.1% and the Bank of England Meeting Minutes showed that officials don�t see the need for an interest rate increase in the immediate future.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.23-Euro-ready-for-a-breakout.-Pound-close-to-the-years-high-pic21-1024x477.png

Technical Outlook
Price moved sharply to the north yesterday and broke the major resistance located at 1.6550. Although the bulls are in complete control, the year�s high located at 1.6600 will provide resistance for rising prices and may even reject the pair lower if it is touched, especially considering the overbought condition indicated by the Relative Strength Index on a four hour chart.

Fundamental Outlook
The United Kingdom didn�t schedule any important economic releases for the day and this may generate slow, sideways movement.

Written by: Bogdan Giulvezan

The article above is based on the writer�s 4-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


YM: [email protected] | Skype : gdmfxindonesia
Indonesia Email Support: [email protected]

[pasfx]

2014.01.27 :Forex News: Price action driven by fundamental factors

EUR/USD

Forex News: After piercing through the resistance located at 1.3710, the pair bounced back Friday, creating a sharp reversal pattern which was rather difficult to trade.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.27-Price-action-driven-by-fundamental-factors-pic1-1024x477.png

Technical Outlook
At the moment the pair is confined between 1.3650 and 1.3710 and we expect it to remain within these two levels if the economic indicators released today will not show surprising numbers. If the bulls make another attempt to break 1.3710 but don’t succeed, it would suggest that momentum is starting to fade away and moves lower are probable.

Fundamental Outlook
The German Ifo Business Climate is released today at 09:00 am GMT with an anticipated increase from the previous 109.5 to 110.2. The indicator is a survey based on the opinions of about 7,000 German businesses regarding the current and 6-month outlook and is considered a leading indicator of economic health. Later in the day, at 3:00 pm GMT the US New Home Sales numbers come out, showing how the US housing market performs. An increase in the number of houses sold suggests a thriving economy and can potentially strengthen the US Dollar. The anticipated number is 457K while the previous was 464K.

GBP/USD

The pair dropped sharply Friday after moving to the upside for the entire last week and the trading session was almost completely controlled by sellers who took price almost 200 pips lower.

http://res.gdmfx.com/wp-content/uploads/2014/01/2014.01.27-Price-action-driven-by-fundamental-factors-pic2-1024x477.png

Technical Outlook
Although the pair climbed strongly during the last period, Friday’s sharp drop is a potential sign of reversal. The break above the resistance located at 1.6600 was a false one as price soon returned below it and now the short term uptrend is weakened, making 1.6440 a level to watch. A touch of this level may result in a bounce higher, signaling that Pound is still strong and the uptrend may resume.

Fundamental Outlook
The United Kingdom didn’t schedule any major news releases for today so price action will be influenced by the US event mentioned above and by technical factors.

Written by: Bogdan Giulvezan

The article above is based on the writer’s 5-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.

Source of article from the best forex broker (http://www.gdmfx.com/?ib=207).


Skype : gdmfxindonesia
Indonesia Email Support: [email protected]