News from Newforex

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News from Newforex

Postby Anna Mon » Mon May 30, 2016 9:35 am

Forex News from New Forex: Technical analysis of EUR/USD

In the trading on Monday the pair trades with a slight downtrend and the price remains within the immediate support at 1.1067 and resistance at 1.1159. The MACD-histogram stays in the negative zone and looks down. Exponential moving averages with the period 20 and 55 keep declining, the oscillator Stochastic is close to leaving the zone of oversold but has not left it yet.

Thus, the technical structure indicates today that the market continues a downtrend within the descending corridor.

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NewForex Analyst

Luigi Campo

Forex News from New Forex: Technical analysis of GBP/USD

On Monday the pair trades with some descend within the support at 1.4570 and resistance at 1.4656. EMA20 and EMA55 slowed down and flatten out. The MACD-histogram decreased and approached its central line looking downwards. The oscillator Stochastic stays in the zone of oversold.

If the market breaches the level at 1.4570 and consolidates below support, there might be a descending movement to 1.4350. If the market consolidates above resistance at 1.4656, we may see a rise to 1.4750.

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NewForex Analyst

Luigi Campo

Forex News from New Forex: The US dollar rises against the Aussie and the kiwi

On Monday, May 30, the Australian and the New Zealand dollar decline against the greenback. The report of the Fed’s Chair Janet Yellen last Friday lent support to the US dollar, whereas falling oil prices keep bringing commodity currencies under pressure. On Friday Janet Yellen claimed that in the coming months the interest rate hike should go gradually and cautiously. The increase of the GDP boosted the US dollar, in the first quarter the figures rose by 0.8% instead of expected 0.5%.

The currency instrument AUD/USD slid 0.10% to 0.7173. If the Aussie goes below 0.7145, it will hit a 3-month low. Fresh economic data had a negative influence on the Aussie. The Company Gross Operating Profits dropped from −3.6% to −4.7%. According to the report of Housing Industry Association, new home sales tumbled in Australia from 8.9% in March to −4.7% in April. At the moment the pair kiwi/dollar shed 0.07% to 0.6686, a low since March 28.

As for oil prices, a negative dynamics is observed today. WTI futures slipped to 0.14% to $49.26 a barrel, Brent lost 0.32% to $49.16 a barrel.

The dollar index rises, in the morning tradings it climbed 0.11% to 95.84.

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NewForex Analyst

Luigi Campo

Forex News from New Forex: The yen plummets against the US dollar

The greenback hit a month high against the yen in the trading on Monday, May 30. The Friday’s report of the Fed’s Chair Janet Yellen boosted forecasts of market participants regarding the interest rate hike. The pair dollar/yen picked up 0.81% to 111.03, a high since April 28.

The commentary of the Japanese Prime Minister Shinzo Abe about a possible delay of the sales tax increase played a negative role for the yen. The fall of the yen against the euro is even stronger today, the Japanese currency shed 1.18% to 123.68.

Asian indexes trade in mixed ways on Monday. The Japanese Nikkei 225 added 1.39% to 17,068.02. The Chinese Shanghai Сomposite surged 0.1%, the Shenzhen Composite slid 0.45%. The Hang Seng advanced 0.3%.

European markets digest the Friday’s report of the Fed’s Chair, main indexes trade mostly in the green zone. The UK’s FTSE climbed 0.08%, the German DAX edged up to 0.32%, the French CAC 40 rose 0.04%. In Eurozone the economic sentiment index advanced from 104.0 in April to 104.7 in May.

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NewForex Analyst

Luigi Campo
Anna Mon
 
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Joined: Thu May 26, 2016 7:13 am

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