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Author Topic: Daily Forex Analysis from FidelisCM
FidelisCM
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Posts: 5
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FidelisCM
Post Daily Forex Analysis from FidelisCM
on: March 20, 2017, 13:28
Quote

The main events on March 20, 2017

The dollar fell in Asia on Monday with concerns over comments made at the weekend at a meeting of finance ministers from leading economies that highlighted a lack of cohesion on global trade policies.

Markets in Japan are shut for a holiday. AUD/USD traded at 0.7712, up 0.09%, while USD/JPY changed hands at 112.58, down 0.10% and GBP/USD was quoted at 1.2388, down 0.06%.

The U.S. dollar index eased 0.09% to 100.05.

Gold prices rose slightly in Asia on Monday with the focus ahead on Fed policymaker comments this week.

Gold inched up 0.02% to $1,230.40 a troy ounce.

Crude prices fell further in Asia on Monday as the supply response of U.S. shale drillers to coordinated output cuts by OPEC and key producers and headlines from the G-20 meeting of finance ministers in Germany at the weekend dampening sentiment.

WTI crude contract fell 0.69% to $48.97 a barrel.

Brent oil dropped 0.54% to $51.48 a barrel.

News for Today:

Canada is to release data on wholesale sales.

Chicago Fed President Charles Evans is to speak about current economic conditions and monetary policy at the National Association for Business Economics luncheon in New York.

Overnight:

The Reserve Bank of Australia is to publish the minutes of its latest monetary policy meeting, giving investors insight into how officials view the economy and their policy options.

Main Events of the week:

Tuesday, March 21

The U.K. is to release a report on consumer price inflation.

Canada is to release figures on retail sales.

New York Fed President William Dudley, Kansas City Fed President Esther George and Cleveland Fed President Loretta Mester are all due to make public appearances.

Wednesday, March 22

The National Association of Realtors is to release data on U.S. existing home sales for February.

Thursday, March 23

The Reserve Bank of New Zealand is to announce its benchmark interest rate and publish a policy statement which outlines economic conditions and the factors affecting the monetary policy decision.

The UK is to produce data on retail sales.

The US is to release the weekly report on jobless claims as well as data on new home sales.

Later, Fed Chair Janet Yellen is to deliver opening remarks at the Federal Reserve System Community Development Research Conference, in Washington DC.

Minnepolis Fed President Neel Kashkari at Strong Foundations Conference and Dallas Fed President Rob Kaplan are also on tap.

Friday, March 24

New Zealand is to report on the trade balance.

The euro zone is to publish survey data on private sector business activity.

Canada is to release inflation figures.

The U.S. is to round up the week with a report on durable goods orders.

EUR/USD Intraday: continuation of the rebound.

Our preference: long positions above 1.0730 with targets at 1.0780 & 1.0810 in extension.

Alternative scenario: below 1.0730 look for further downside with 1.0705 & 1.0680 as targets.

Comment: the RSI calls for a new upleg.

Supports and resistances:

1.0850 ***

1.0810 **

1.0780 ***

1.0752 Last

1.0730 ***

1.0705 **

1.0680 ***

Image

Review provided by broker Fidelis Capital Markets

FidelisCM
Newbie
Posts: 5
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FidelisCM
Post Re: Daily Forex Analysis from FidelisCM
on: March 21, 2017, 12:58
Quote

The main events on March 21, 2017

- The dollar trended weaker in Asia on Tuesday with the Fed squarely in focus as policymaker speeches loom, though an extraordinary day of news about Russian meddling in the presidential election raised political risk.
- The U.S. dollar index eased 0.14% to 100.02. USD/JPY changed hands at 112.60, up 0.04%, while AUD/SUD traded at 0.7719, down 0.16% despite minutes of the Reserve Bank of Australia's March policy meeting that reinforced market views that policy bias was neutral to a hike as the next move.
- Gold prices dipped in Asia on Tuesday with sentiment on the outlook for Fed rate hikes driving the market, though an extraordinary day of news about Russian meddling in the presidential election raised political risk. Gold fell 0.15% to $1,232.15 a troy ounce.
- Oil prices rose on Tuesday on expectations that an OPEC-led production cut to prop up the market could be extended, while strong demand would also work to slowly erode a global fuel supply overhang.
- Brent crude up 24 cents, or 0.5 percent, from their last close at $51.86 per barrel.
- WTI were up 13 cents, or 0.3 percent, at $48.35 a barrel.

News for Today:
The U.K. is to release a report on consumer price inflation.
Canada is to release figures on retail sales.
New York Fed President William Dudley, Kansas City Fed President Esther George and Cleveland Fed President Loretta Mester are all due to make public appearances.

Main Events of the week:

Wednesday, March 22
The National Association of Realtors is to release data on U.S. existing home sales for February.

Thursday, March 23
The Reserve Bank of New Zealand is to announce its benchmark interest rate and publish a policy statement which outlines economic conditions and the factors affecting the monetary policy decision.
The UK is to produce data on retail sales.
The US is to release the weekly report on jobless claims as well as data on new home sales.
Later, Fed Chair Janet Yellen is to deliver opening remarks at the Federal Reserve System Community Development Research Conference, in Washington DC.
Minnepolis Fed President Neel Kashkari at Strong Foundations Conference and Dallas Fed President Rob Kaplan are also on tap.

Friday, March 24
New Zealand is to report on the trade balance.
The euro zone is to publish survey data on private sector business activity.
Canada is to release inflation figures.
The U.S. is to round up the week with a report on durable goods orders.

EUR/USD Intraday: the upside prevails.

Our preference: long positions above 1.0725 with targets at 1.0780 & 1.0810 in extension.
Alternative scenario: below 1.0725 look for further downside with 1.0705 & 1.0680 as targets.
Comment: the RSI shows upside momentum.

Supports and resistances:
1.0850 ***
1.0810 **
1.0780 ***
1.0750 Last
1.0725 ***
1.0705 ***
1.0680 ***

Image

Review provided by broker Fidelis Capital Markets

FidelisCM
Newbie
Posts: 5
Permalink
FidelisCM
Post Re: Daily Forex Analysis from FidelisCM
on: March 22, 2017, 10:59
Quote

The main events on March 22, 2017

- The dollar drifted mostly weaker in Asia on Wednesday as markets noted views from a key Fed policymaker on the interest rate outlook and mulled stronger than expected Japan trade figures. The U.S. dollar index was quoted flat at 99.55. USD/JPY fell 0.07% to 111.64. AUD/USD traded at 0.7671, down 0.26%, while GBP/USD was flat at 1.2479.
- Gold prices dipped in Asia on Wednesday despite hawkish comments on the rate outlook by a Fed policymaker.
Gold fell 0.10% to $1,245.25 a troy ounce.
- Crude prices held weaker in Asia on Wednesday after industry estimates showed a sharp gain in U.S. inventories and investors showed caution after an apparent missile test by North Korea. WTI fell 0.19% to $48.15 a barrel, while Brent eased 0.20% to $50.86 a barrel.

News for Today:
The National Association of Realtors is to release data on U.S. existing home sales for February.

Overnight:
The Reserve Bank of New Zealand is to announce its benchmark interest rate and publish a policy statement which outlines economic conditions and the factors affecting the monetary policy decision.

Main Events of the week:

Thursday, March 23
The UK is to produce data on retail sales.
The US is to release the weekly report on jobless claims as well as data on new home sales.
Later, Fed Chair Janet Yellen is to deliver opening remarks at the Federal Reserve System Community Development Research Conference, in Washington DC.
Minnepolis Fed President Neel Kashkari at Strong Foundations Conference and Dallas Fed President Rob Kaplan are also on tap.

Friday, March 24
New Zealand is to report on the trade balance.
The euro zone is to publish survey data on private sector business activity.
Canada is to release inflation figures.
The U.S. is to round up the week with a report on durable goods orders.

EUR/USD Intraday: bullish bias above 1.0780.

Our preference: long positions above 1.0780 with targets at 1.0820 & 1.0850 in extension.
Alternative scenario: below 1.0780 look for further downside with 1.0750 & 1.0725 as targets.
Comment: the RSI is mixed to bullish.

Supports and resistances:
1.0875 **
1.0850 ***
1.0820 ***
1.0813 Last
1.0780 ***
1.0750 ***
1.0725 ***

Image

Review provided by broker Fidelis Capital Markets

FidelisCM
Newbie
Posts: 5
Permalink
FidelisCM
Post Re: Daily Forex Analysis from FidelisCM
on: March 23, 2017, 11:06
Quote

The main events on March 23, 2017

- The dollar edged up from four-month lows against the yen on Thursday, but gains were capped by U.S. President Donald Trump's struggle to push through a healthcare bill.
- The dollar was up 0.15 percent at 111.350 yen , enjoying a bit of respite after sliding to a four-month low of 110.735 on Wednesday, when it fell for the seventh straight session.
- The euro was little changed at $1.0792 after advancing to a seven-week high of $1.0825 overnight.
- The pound was effectively flat at $1.2482 and in reach of a one-month high of $1.2507 scaled on Wednesday.
- The Australian dollar was down 0.3 percent at $0.7657.
- The New Zealand dollar was steady at $0.7041.
- Gold prices eased in Asia on Thursday in a light regional data day as markets look to U.S. politics over healthcare for risk direction with a key vote expected in Congress.
- Gold eased 0.29% to $1,246.05 a troy ounce.
- Oil prices recovered on Thursday from losses chalked up the session before, but the market remained under pressure as bloated U.S. crude inventories and rising output dampen OPEC-led efforts to curb global production.
- Brent trading at $50.99 per barrel, up 35 cents, or 0.7 percent, from their last close. That came after Brent briefly dipped below $50 a barrel on Wednesday for the first time since November.
- WTI up 37 cents, or 0.8 percent, at $48.41 a barrel, after testing support at $47 overnight.

News for Today:
- The UK is to produce data on retail sales.
- The US is to release the weekly report on jobless claims as well as data on new home sales.
- Later, Fed Chair Janet Yellen is to deliver opening remarks at the Federal Reserve System Community Development Research Conference, in Washington DC.
- Minnepolis Fed President Neel Kashkari at Strong Foundations Conference and Dallas Fed President Rob Kaplan are also on tap.

Overnight:
- New Zealand is to report on the trade balance.

Main Events of the week:

Friday, March 24
The euro zone is to publish survey data on private sector business activity.
Canada is to release inflation figures.
The U.S. is to round up the week with a report on durable goods orders.

EUR/USD Intraday: under pressure.

Our preference: short positions below 1.0825 with targets at 1.0770 & 1.0750 in extension.
Alternative scenario: above 1.0825 look for further upside with 1.0850 & 1.0875 as targets.
Comment: a break below 1.0770 would trigger a drop towards 1.0750.

Supports and resistances:
1.0875 **
1.0850 ***
1.0825 ***
1.0799 Last
1.0770 ***
1.0750 ***
1.0730 ***

Image

Review provided by broker Fidelis Capital Markets

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