Free Forex Signals for 10.21.2015

EURAUD, Daily

EURAUD Daily, the AUD has given back some recent gains against the majors over the last few trading sessions, leaving the outlook for the AUD to continue a narrow trade range as concerns about inflation subside, while commodities seek out a bottom. Technically, the Daily EURAUD observations include: bearish 10,50 SMA crossover spotted, price trades within a downward slopping trend channel, and stochastic oscillator indicates positive upward momentum. My conclusion for the Daily supports long positions with a price target near the 1.5840 inside swing area.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our TopForex Brokers official website:http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Free Forex Signals for 10.20.2015

AUDUSD, Daily

The pair is trading in a triangular formation near a descending regression channel (drawn from July 30th high). There was a close below 0.7265 low but no downside momentum or follow through. This suggests that price that the September pivot high is likely to support prices over the coming days and market is likely to eventually push higher from its support. The sideways movement might therefore continue. Last week’s high and low are key levels to look at. The nearest resistance levels are at 0.7364 and 0.7382, two pivotal highs that coincide with the upper Bollinger Bands and a 100 period SMA. Price should move to these highs and could turn lower from there in which case the 0.7260 support should work as an initial target for shorts. If price breaks out of the sideways formation the Fibonacci extension levels at 0.7471 and 0.7640 could come into play. The latter one coincides with a historical resistance level and is therefore more significant as a resistance level. In case the last week’s low gets violated the weekly high at 0.7085 should work as a target level.

GBPAUD, Daily

The pair has rallied to a level that used support price in September. Yesterday’s high was almost at the level with 2.1355 resistance and today we’ve seen a move lower. At the time of writing price is reacting higher from a 4h pivot and a 50 period SMA but with a higher time frame resistance above this is likely to remain intraday noise for those looking for bigger moves based on the daily chart. If price corrects lower from the 2.1355 resistance the 50% and 61.8% Fibonacci levels provide a logical target area. These levels (2.1006 and 2.1047) coincide roughly with a 100 period moving average. The 4h chart points to 2.1302 – 2.1380 being an important resistance area while the 2.1006 – 2.1047 bracket coincides nicely with support area visible in the 4h chart. I’m looking for shorts between 2.1302 – 2.1380 with a view of taking profit between 2.1006 – 2.1047.

RBA minutes reveal a more upbeat view than expected

The central bank noted that “growth in output had continued at around the average pace of recent years” and that while global traded was “subdued” it had “picked up recently.” The board also noted that weakness in June-quarter growth had reflected “temporary, weather related disruptions to resource exports,” in addition to an ongoing decline in mining investment.

The RBA also noted “further evidence” that the economy is rebalancing from the resource sector toward non-mining activity, and was also fairly upbeat on the employment market. As for the risks, the board said that recent data “continue to raise concerns” about the outlooks for China and East Asia, which are Australia’s biggest markets for its resource exports. The swaps markets is pricing in odds of 58% for the RBA to cut interest rates in November, down from 65% ahead of the minutes (according to the FT). The Aussie dollar is also trading higher.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our TopForex Brokersofficial website:http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Free Forex Signals for 10.19.2015

AUDUSD, Daily

AUDUSD 5-day change is lower against other major currencies in what seems to be a pause in the recent price rally from the September 29th low (0.6936) to the Oct 12th high (.7380). Daily technical observations spots a bullish 10,50 SMA cross, consecutive higher tops and bottoms on price from September 4th – October 12th (0.69 L / .7380 H ) and the fact that current price is trading above the 10,50 SMA brings me to the conclusion that price remains in a short term uptrend. If today’s low on price holds above the 0.7230 area this could create a lower top above last week’s low (0.72) that may open up the way towards 0.7380; my ultimate short term price objective near 0.7440. However, traders should be on alert for any break below the 0.72 support that may support a deeper price retracement from the September Low to October’s current high with relevant support in this case spotted around the 0.71-0.7110′s.

GBPAUD, Weekly

GBPAUD weekly chart analysis, price touched a six year high at 2.24 late August and since has made a series of lower tops on price. Current price is trading below both the tentative downward slopping trend line, and the 10 period SMA. Stochastic oscillator analysis spots a bullish cross below the 20 line indicating a possible pause in the current downward price direction. My conclusion for the weekly chart trader is to sell into any strength higher up from current price, ideally near the 2.14 area for a 2.03 target.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our TopForex Brokersofficial website:http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Free Forex Signals for 10.16.2015

AUDUSD, Daily

As expected the pair rallied from the 0.6938 support. AUD has now been trading at resistance and just recently failed to stay above the daily Bollinger Bands. The 100 period SMA has been limiting the upside in the occasions while the September pivotal high at 0.7280 has been supporting price yesterday and today. Price is now trading at 0.7263. A close below 0.7266 would make yesterday’s candle a pivot and a lower high. This looks likely. A break below 0.7200 would open a way to the 0.7020 support. If 0.7200 fails to support price look for reversals in 0.6938 – 0.7020 range for long trades and 0.7344  – 0.7382 for short trades.

AUDJPY, Daily

With AUDUSD rallying the AUDJPY moved higher as well. The pair hit resistance at 88.65 and reversed after trading outside the Bollinger bands. Now price action is taking place inside Bollinger Bands and the pair is fluctuating near 50 day simple moving average. There is some support at 86.08 but the 4h chart reveals a lower high after price reacted lower from a 30 period SMA and increases the chances price will break below this support. This would make the 82.88 – 84.29 a reasonable target level.  Look for bullish reversals inside this range while 87.80 – 88.65 is a range for bearish reversals.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our TopForex Brokersofficial website:http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Free Forex Signals for 10.15.2015

EURUSD, Daily

EURUSD daily price is currently testing the upper end of my predicted price path range (1.1090 – 1.1460). Ideally, a solid close above the 260 period SMA (1 year moving average) could indicate a possible trend reversal on the EURUSD. The next major daily resistance is now at 1.1560, however there still remains the possibility of a failed upward break that could shift the control back to the short sellers for a retest of the 1.1340′s , 1.1280′s and the 1.1090′s in extension. From a technical standpoint the EURUSD continues to look overextended, the technical trader should be reminded that just because the stochastic oscillator is in overextended territory that does not indicate an immediate fall in price, on the contrary, it is not uncommon that in a strong uptrend that an oscillator could remain overextended while price continues to advanced. My conclusion for short term traders is to add long positions on dips for targets between the 1.1460’s and 1.1560’s.

In the event that the ECB can not meet its inflation objective, the European Central Bank may make a move to extend QE, according to the Bank of Spain deputy governor Restoy.

Crude overnight hit near $45.90, down from yesterday’s $46.91 peak , crude moved lower after the close on Wednesday, as the API reported a huge 9.3 mln bbl weekly stock build, the largest in six-months. Some of the inventory rise was attributed to falling refinery operating rates, as API reported a 5 mln bbl fall in gasoline supplies for the latest week.

Stock markets have been moving higher as weak economic data continues to hit the news wires, with U.S. negative data on ex-auto retail sales and PPI, a deterioration of Japanese manufactures, and the unexpected dip in Australian employment all giving some relief for stock investors since it adds to the possibility of a delay in a U.S. interest rate raise, while increasing the risk that the ECB will proceed with additional QE in order to boast the Eurozone.

Currency Pairs, Grouped Performance (% change)

The EUR fell following the mix of data, which revealed a 40-plus year low in jobless claims, a slightly hotter core CPI reading, and an improvement, though less than expected in the Empire State index headline.

Significant daily support and resistance levels for these pairs are:

Main Macro Events Today

• AUD Employment Change: Australian employment had an unexpected dip coming in at -5.1k while it was expected to come in at 7.2k.

• USD Consumer price Index: CPI sank 0.2% in Sep, in line with median -0.2%; core +0.2%, above med 0.1%. There were no revisions to August which posted a 0.1% headline decline, with the core rate edging up 0.1%. On an annual basis, the headline index was unchanged versus 0.2% y/y, while the ex-food and energy component rose to a 1.9% y/y from 1.8% y/y. Energy prices skidded another 4.7% following a 2.0% decline in August. Transportation costs dropped 2.3% from -1.3%. Food/beverage prices edged up 0.4% from 0.2%. Services costs rose 0.2% from 0.1%. Housing were up 0.3% from 0.2%. Apparel slipped 0.3%, reversing the 0.3% gain in August. Commodities were down 0.8% from -0.4%. Tobacco prices declined 0.1% following a 0.5% gain in August.

• USD Initial Jobless Claims: U.S. initial jobless claims fell 7k to 255k in the week ended October 10, matching the lowest since 1973.from a revised 262k in the prior week (was 263k). That brought the 4-week moving average to 265.0k from 267.25k (revised from 267.50k). Continuing claims fell 50k to 2,158k in the October 3 week, versus a revised 2,208k (was 2,204k), the lowest since December, 1973.

• USD Empire State Index: NY Empire State index rebounded to -11.36 in Oct, below median -8.0 vs -14.7.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our TopForex Brokersofficial website:http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Free Forex Signals for 10.14.2015

EURUSD, Daily

EURUSD daily price has been in a momentum driven mode since clearing to the upside the previous resistance now turned support (1.1280) level. This upward momentum on price has been done on the back of mostly disappointing Eurozone data; however, the market has interpreted last week’s release of the U.S. Feds FOMC meeting minutes as a reason to sell off the USD, therefore, proving short term support for the EUR. Moving forward, stochastic oscillator analysis is starting to look overextended, indicating that momentum may start to slow. Price is also nearing the 260 period (1 year) SMA leaving me with the technical view that the EURUSD remains at risk for a fall towards the 1.1280′s, unless we see a clean break above the 1.1460′s that could open up the way for the 1.1530′s.

On Tuesday, we saw that the German ZEW investor expectations drop was much more pronounced than anticipated, with optimists only marginally outnumbering pessimists now. The index has been falling steadily since March and the decline in investor sentiment clearly reflects growing concerns about the health of the global economy and the impact of slowing growth in emerging market economies on advanced countries. The expectations index for the U.S. dropped sharply in October, and the reading for the Eurozone also declined. The German ZEW decline was not a total surprise in the wake of the VW emission scandal, the refugee crisis and, of course, uncertainty about the global growth outlook.

Global stock markets were weaker on Tuesday, as disappointing trade news from China continues to influence investor sentiment, and signs of disinflation from Europe. Also, profit taking on U.S. markets added to the selling pressure after the Dow Jones posted a 7-week high last week.

Currency Pairs, Grouped Performance (% change)

AUD has been correcting lower in the wake of a 2 week advance, AUDUSD buyers have emerge around the 0.72 area and a potential 10,50 SMA bull cross may be forming on the daily. The NZD has been trading higher as the New Zealand economy continues to grow, supported by strong home sales. The USD is still softer as markets continue to add pressure for USD buyers with the impact of a delayed rate hike fresh on traders mind, as well as disappointing retail sales data.

Significant daily support and resistance levels for these pairs are:

Main Macro Events Today

• GBP Claimant Count Change: UK unemployment unexpectedly dipped to a new cycle low of 5.4% in the official ILO figure for August. This is below the BoE’s 5.5% NAIRU marker, which is the non-accelerating inflation rate of unemployment, below which the central bank expects inflation pressures to build. Other parts of the labour report showed the claimant count rising by 4.6k in September, which is worse than expected as the median forecast was for a 2.5k decline. The claimant count rate remained at cycle lows of 2.3%. Wage data was perky, though within expectations. The with-bonus figure rose 3.0% y/y in the three months to August, up from 2.9% previously. This is a strong rate of real improvement in households spending power, given that CPI is at -0.1% y/y, and the BoE will be monitoring this closely with unemployment now south of 5.5%.

• EUR Eurozone Industrial Production: Eurozone industrial production dropped 0.5% m/m in August, in line with median expectations and indications from national data last week. The annual rate dropped to 0.9% y/y from 1.7% y/y in the previous month. Confidence indicators continue to suggest ongoing expansion, but also a slowdown in growth momentum, and even if the broadening of developments is encouraging, the knock to the German economy from the emission scandal and the slowdown in emerging economies is also raising concerns about the outlook and adding to the arguments of the doves at the ECB.

• USD Retail Sales: U.S. retail sales rose 0.1% in September, and fell 0.3% ex-autos. The disappointing data will add to expectations of no Fed rate hike in 2015. The 0.2% headline August gain was bumped down to unchanged, though July’s 0.7% was bumped up to 0.8%. The 0.1% ex-auto gain from August was revised lower to -0.1%. Sales excluding autos, gasoline, and building materials edged up 0.1% after a 0.2% increase in August (revised down from 0.5%). Motor vehicles and parts climbed 1.7% last month. Gas station sales fell 3.2%. Small declines were registered in electronics, building materials, food, general merchandise and non-store retailers. Clothing rose 0.9%, as did sporting goods, with furniture prices up 0.6%. Health care costs were unchanged.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our TopForex Brokersofficial website:http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Free Forex Signals for 10.13.2015

EURUSD, Daily

With markets trading in quiet mode yesterday because of the bank Holiday’s in the U.S., Canada and Japan traders should expect to see price action pick up as traders get back to work after the extended weekend.

EURUSD daily still remains contained within the 1.1460 (Top) 1.1090 (Bottom) range, with current price now trading comfortability above the key support (1.1280) with the pair not showing any signs of leaving a new lower top from the 1.17 August high. I see upside potential in the immediate short term to be limited to around the 1.1440 – 1.1460 levels, before selling pressure emerges, however, since bullish price momentum still remains present there remains the risk for sellers of a price extension towards the 1.15 – 1.1530′s.

Asian stock markets are mostly lower in overnight trade as weaker than expected trade data out of China put pressure on commodities and overall market sentiment. The drop in Chinese imports added to the fall in oil prices yesterday. U.K. BRC retail sales came in much stronger than expected.

The USD traded weaker in quiet Monday trading with fresh losses against the EUR, AUD and NZD, while the JPY is still flat. The general weakness in the USD is a continuation of selling seen in the wake of last week’s release of the FOMC minutes, which have seen the odds for a Fed rate hike expectations shifted towards year end or even further out.

Currency Pairs, Grouped Performance (% change)

The USD over the last 5 day trading sessions has been to the downside sparked by the latest release of the FOMC meeting minutes which have seen the odds for a Fed rate lift-off by year-end lengthen. The GBP is lower across the board in the wake of lower trade balance that fell in August to GBP-3.27 billion from GBP-4.4 billion in July while the forecast was for a GBP 2.5 billion deficit. The AUD has been outperforming as higher commodity prices and hopes of more prolonged stays of ultra-accommodative monetary policy at the Fed and BoE give AUD buyers reason to support price.

Significant daily support and resistance levels for these pairs are:

Main Macro Events Today

• EUR German HICP: Was confirmed at -0.2% y/y, national CPI at 0.0% y/y, as expected. The breakdown, which was released for the first time, confirmed that lower energy prices are the main reason behind the negative headline rate. Prices for heating oil were down 27.9% y/y in September and petrol prices dropped 13.8% y/y. Excluding both household energy and petrol the annual rate stood at 1.1% y/y, still below the ECB’s 2% limit for price stability but far above the headline rate and the risk of a real deflationary spiral is very small, which means the ECB won’t need to react to the drop in headline inflation numbers, even if they keep easing speculation alive.

• GBP Consumer Price Index: The Consumer Prices Index (CPI) fell by 0.1%, compared to no change (0.0%) in the year to August 2015. A smaller than usual rise in clothing prices and falling motor fuel prices were the main contributors to the fall in the rate. The rate of inflation has been at or around 0.0% for most of 2015.

• EUR German ZEW Survey: Investor sentiment fell more than expected to 1.9 from 12.1. Market sentiment is swinging between concerns about the global growth outlook and hopes that monetary stimulus will remain in place for longer than previously thought and that this will prevent a substantial deceleration in growth.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our TopForex Brokersofficial website:http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Free Forex Signals for 10.09.2015

 

EURUSD, Daily

There was no surprise in the FOMC minutes from the mid-September meeting with “several members” worried that downside risk to growth and inflation have increased due to uncertainties about the global economy. The fact that the FOMC members are downbeat adds to the odds that the FED will delay to at least year end. The U.S. Dow Jones finished with a solid higher close in the wake of the FOMC minutes, while Asian stock markets have rallied across in overnight trading, and most commodity prices are gaining. Crude Oil is trading above $50 for the first time since late July, and may aid support to commodity linked currencies.

Previous EURUSD price action closed just below the key resistance (1.1280), leaving a shadow on the daily. However, the EUR bulls seem to be gaining control of the market this morning as price has taken out yesterday’s high (1.1327) and now looks set to continue a push higher with short term bullish momentum now in play. EURUSD bulls should remain cautious of the failed upward break of the one year moving average August high near the 1.17’s, which supports that the longer term trend on the EUR remains to the downside.

EURUSD daily traders should understand that the pair still lacks direction over the very short term and price seems to be attempting to trace out a trading range between the 1.1090 – 1.1460 range.

The Bank of England left policy unchanged as expected; however, the meeting minutes sounded more to the side of holding current policy for an extended period as the BoE pointed out downside risks, all suggesting that the BoE is in no hurry to raise rates.

Currency Pairs, Grouped Performance (% change)

The EUR is trading higher against the majors in the wake of positive French production numbers, which normally is not a EUR mover, but today catches a USD bearish market following yesterday’s publication of the Fed’s minutes to its most recent policy meeting. The USD, JPY and the GBP are all suffering losses as commodity currencies trade stronger fueled by a general risk on investor sentiment after the FOMC minutes indicated an increased in the odds that the FED will delay any upward move in interest rates. The AUD , CAD and NZD are all benefiting from the stronger commodity markets and the fact that US Crude Oil is trading at its highest levels not seen since late July.

Significant daily support and resistance levels for these pairs are:

Main Macro Events Today

• EUR Italian Industrial Production: dropped -0.5% m/m in August, after 1.1% m/m in July. The work day adjusted y/y rate fell back to 1.0% from 2.8% and output actually stagnated in the three months to August, which will raise renewed concerns about the health of the Italian economy.

• EUR French Industrial Production: better than expected with manufacturing up 2.2% m/m and overall production 1.6% m/m. July data were revised down, but the numbers are nevertheless encouraging. The positive numbers tie in with the improvement in French PMI readings recently and confirm that the cyclical recovery in the Eurozone has finally reached France.

• USD Wholesale Inventories: August wholesale trade data is out later today and should reveal a 0.3% (median unchanged) decline for sales while inventories remain unchanged for the month. This would follow respective July figures of -0.3% for sales and -0.1% for inventories.

• CAD Bank of Canada Business Outlook: due out later today, is expected to improve to 10.0 in Q3 from 8.0 in Q2 and a multi-year low 4.0 in Q1. An expected rebound in Q3 GDP following the declines in Q1 and Q2 is expected to lift sentiment.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our TopForex Brokersofficial website:http://www.topforexbrokerscomparison.com

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.