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EU Session Bullet Report | USDCAD surges as oil Collapses
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| The oil price took another hit yesterday and Brent briefly went below USD30 per barrel, the lowest since April 2004. The oil price appears to be driven by a combination of high supply and growing concerns over the global economy. While there was another bloodbath in Wall Street last night with major indices dropping well above 2%, Asian markets reversed earlier heavy losses and as a result European markets opened in the green this morning.
In currencies, major pairs are stuck in a range, with the exception of the USDCAD. The Loonie, as it is called, posted another 13 year low on the back of slumping oil prices. Another negative hero was the AUDUSD which posted 4 month lows below 0.70. On the other hand, EURGBP cross has posted another high, based on EURUSD relative stability and GBPUSD continuous decline. Going ahead, investors will look forward to Germany’s real GDP growth data, scheduled to be released in a few hours. Moreover, the US initial jobless claims data, due later today, will also grab market attention. Bank of England is also scheduled to announce interest rates be later in the day. Trading quote of the day: “You will always remember the trades that could have been and forget about the risks that were involved. Green lines are resistance, Red lines are support. EUR/USD Pivot: 1.084 Likely scenario: long positions above 1.084 with targets @ 1.09 & 1.0945 in extension. Alternative scenario: below 1.084 look for further downside with 1.08 & 1.077 as targets. Comment: The pair has broken above the upper boundary of a bearish channel and remains on the upside.
GBP/USD Pivot: 1.4475 Likely scenario: short positions below 1.4475 with targets @ 1.435 & 1.43 in extension. Alternative scenario: above 1.4475 look for further upside with 1.4515 & 1.456 as targets. Comment: the RSI is mixed to bearish.
AUD/USD Pivot: 0.6975 Likely scenario: short positions below 0.6975 with targets @ 0.6915 & 0.6895 in extension. Alternative scenario: above 0.6975 look for further upside with 0.7005 & 0.704 as targets. Comment: the RSI is mixed to bearish
USD/JPY Pivot: 118.05 Likely scenario: short positions below 118.05 with targets @ 117.2 & 116.95 in extension. Alternative scenario: above 118.05 look for further upside with 118.35 & 118.6 as targets. Comment: the RSI lacks upward momentum.
USD/CAD Pivot: 1.426 Likely scenario: long positions above 1.426 with targets @ 1.439 & 1.443 in extension. Alternative scenario: below 1.426 look for further downside with 1.4215 & 1.4175 as targets. Comment: the RSI is well directed.
Pivot: 1084 Likely scenario: long positions above 1084 with targets @ 1099 & 1105 in extension. Alternative scenario: below 1084 look for further downside with 1075 & 1070 as targets. Comment: the RSI is mixed to bullish.
OIL Pivot: 32 Likely scenario: short positions below 32 with targets @ 30 & 29.05 in extension. Alternative scenario: above 32 look for further upside with 33.15 & 34.3 as targets. Comment: as long as 32 is resistance, look for choppy price action with a bearish bias.
DAX Pivot: 10025 Likely scenario: short positions below 10025 with targets @ 9655 & 9580 in extension. Alternative scenario: above 10025 look for further upside with 10165 & 10290 as targets. Comment: the RSI is bearish and calls for further downside.
Important note: These technical and research reports are provided to easy-forex® as a subscriber of third party providers. They are provided for informative purposes only and in no way can they be considered as a recommendation by easy-forex® to you to engage in any trade. Hence, easy-forex® shall not be held responsible for any outcome of trading decisions, in regards with these reports or similar reports. You hereby acknowledge that using the information entailed in these reports is at your sole responsibility and you will have no claims with regards to these reports against easy-forex®. If you do not agree to this, you are strongly advised not to use these reports.
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TIME IS IN GMT(+2) Report prepared by the easy-forex VIP desk 07:30 GMT. Become a VIP client today and take advantage of expert market insight, reduced spreads and much more to help with your trading. To learn more, please contact your relationship manager.
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Risk warning: Forward Rate Agreements, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you understand fully the risks involved and do not invest money you cannot afford to lose. The information provided can under no circumstances be considered as a recommendation to engage in any trade. Our group of companies through its subsidiaries is licensed by the Cyprus Securities & Exchange Commission (Easy Forex Trading Ltd-CySEC- License Number 079/07), which has been passported in the European Union Through the MiFID Directive and in Australia by ASIC (Easy Forex Pty Ltd-AFS license No. 246566). |
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From: Alex Holmes
Sent: Wednesday, January 13, 2016 4:37 PM
To: Sales_Global <Sales_Global@easy-forex.com>; SydneyDealing <SydneyDealing@easy-forex.com>; DealingRoom_CY <DealingRoom_CY@easy-forex.com>; CS_Global <cs-global@easy-forex.com>; Call Center 2 <CallCenter2@easy-forex.com>; Marketing_CY <Marketing_CY@easy-forex.com>
Cc: Nikos Antoniades <nikos@easy-forex.com>
Subject: US Session Bullet Report | Euro stocks up following upbeat China trade data
Hi everyone
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Sent: Wednesday, January 13, 2016 4:33 PM
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Subject: Test – US Session Bullet Report | Euro stocks up following upbeat China trade data
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| Dear %%FIRSTNAME%%,
Following the positive trade data from China this morning, optimism spilled over to European markets as leading indexes look set to post gains for the 3rd straight day with Germany’s DAX and UKs FTSE both trading up over 1%. Investors will now be looking at the positive Chinese news for signs that perhaps the recent freefall is close to reaching its bottom. Oil is doing its best to stage a fightback and has now edged up above $31 as sentiment shifts slightly towards a more upbeat outlook for the short term at least. Currencies, and USD is again the big winner, spurred on further by the news that U.S car giant General Motors raised its profit forecasts for 2016. The greenback is set for modest gains against all majors with the exception of the CAD, which is having a rare, good day boosted by the Oil fightback. With markets enjoying their first real rally of 2016, gold continues to edge lower, currently trading just above 1081 at time of writing. Earlier today, Eurozone industrial output data came up worse than expected which nudged the Euro lower but, Oil inventories at 15.30 GMT is still the one to watch for this afternoon. Trading quote of the day: “The ability to foresee that some things cannot be foreseen is a very important quality”. – Rousseau Green lines are resistance, Red lines are support. EUR/USD Pivot: 1.086 Likely scenario: short positions below 1.086 with targets @ 1.077 & 1.074 in extension. Alternative scenario: above 1.086 look for further upside with 1.09 & 1.0945 as targets. Comment: The pair is trading within a bearish channel.
GBP/USD Pivot: 1.4475 Likely scenario: short positions below 1.4475 with targets @ 1.435 & 1.43 in extension. Alternative scenario: above 1.4475 look for further upside with 1.4515 & 1.456 as targets. Comment: the RSI is mixed to bearish.
AUD/USD Pivot: 0.6995 Likely scenario: long positions above 0.6995 with targets @ 0.7065 & 0.7085 in extension. Alternative scenario: below 0.6995 look for further downside with 0.697 & 0.6935 as targets. Comment: the RSI is mixed to bullish.
USD/JPY Pivot: 117.6 Likely scenario: long positions above 117.6 with targets @ 118.45 & 118.8 in extension. Alternative scenario: below 117.6 look for further downside with 117.2 & 116.7 as targets. Comment: the RSI is well directed.
USD/CAD Pivot: 1.4175 Likely scenario: long positions above 1.4175 with targets @ 1.432 & 1.439 in extension. Alternative scenario: below 1.4175 look for further downside with 1.413 & 1.406 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Pivot: 1087 Likely scenario: short positions below 1087 with targets @ 1075 & 1070 in extension. Alternative scenario: above 1087 look for further upside with 1093 & 1099 as targets. Comment: the RSI is capped by a bearish trend line.
OIL Pivot: 32 Likely scenario: short positions below 32 with targets @ 30 & 29.05 in extension. Alternative scenario: above 32 look for further upside with 33.15 & 34.3 as targets. Comment: as long as the resistance at 32 is not surpassed, the risk of the break below 30 remains high.
DAX Pivot: 9930 Likely scenario: long positions above 9930 with targets @ 10230 & 10315 in extension. Alternative scenario: below 9930 look for further downside with 9770 & 9655 as targets. Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
Important note: These technical and research reports are provided to easy-forex® as a subscriber of third party providers. They are provided for informative purposes only and in no way can they be considered as a recommendation by easy-forex® to you to engage in any trade. Hence, easy-forex® shall not be held responsible for any outcome of trading decisions, in regards with these reports or similar reports. You hereby acknowledge that using the information entailed in these reports is at your sole responsibility and you will have no claims with regards to these reports against easy-forex®. If you do not agree to this, you are strongly advised not to use these reports.
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TIME IS IN GMT(+2) Report prepared by the easy-forex VIP desk 14:30 GMT. Become a VIP client today and take advantage of expert market insight, reduced spreads and much more to help with your trading. To learn more, please contact your relationship manager.
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Source:: EU Session Bullet Report | USDCAD surges as oil Collapses
