Month: March 2014

EURJPY- Having reversed its earlier losses to close higher the past week, the cross is now seen rallying strongly during Monday trading session. Resistance resides at the 143.00 level with a break triggering further upside towards the 143.73 level. Further out, resistance comes in at the 144.00 level where a break will turn attention to the 144.50 level and then the 144.00 level. A violation will push it further higher towards the 145.50 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, on pullbacks support comes in at the 141.97 level where a reversal of roles as support is expected. Further down support lies at the 141.00 level where a breach will target the 140.43 level. Bulls may come in here but if this fails to occur, further decline will follow towards the 139.96 level. All in all, the cross remains biased to the upside on recovery.

Article by www.fxtechstrategy.com

By HY Markets Forex Blog

Futures for the West Texas Intermediate (WTI) crude started the trading week trading lower on Monday, falling from its three-week high as the US and Russia agreed to have talks to solve the crises over Ukraine.

Futures for the West Texas Intermediate (WTI) for May delivery edged 0.25% lower to $101.40 a barrel at the time of writing on the New York Mercantile Exchange. While Brent crude for May settlement declined 0.20% to $107.86 a barrel on the ICE Futures exchange at the same time. The European benchmark crude was at a premium of $6.48 to WTI.

WTI – Ukraine Crises

On Friday, the North American WTI crude was up by 2.01% at $101.50 a barrel, boosted by the ongoing tension between the Western powers and Russia over Ukraine.

The US Secretary of State John Kerry and the Russian Foreign Minister Sergei Lavrov met in Paris over the weekend to discuss on how to ease the ongoing tensions.

“Both sides made suggestions of ways to de-escalate the security and political situation in and around Ukraine,” Kerry said in Paris on Sunday and also said a progress in easing the tension between the nations would include withdrawing the Russian forces from Ukraine boarders.

“You’ve seen a range of troops massing along that border under the guise of military exercises, but these are not what Russia would normally be doing,” US President Barack Obama said in Rome on Friday.

The Western powers have guaranteed to impose tougher sanctions on Russia’s energy, financial and military industries if the Russian troops go further into Ukraine.

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Article provided by HY Markets Forex Blog

By HY Markets Forex Blog

The euro weakened against the US dollar on Monday, dragged lower by the disappointing Consumer Price Index from the euro zone.

Eurozone’s inflation for March slowed to the lowest in four years, coming in below analysts’ estimates and could point out the next step the European Central Bank (ECB) may take at its next meeting due on Thursday. Some analysts are expecting the central bank to announce easing measures to boost the weak inflation.

The euro dropped 0.06% lower to $1.3743 per dollar at the time of writing, following the release of the data.

Eurozone’s CPI for the month of March grew by 0.5% in the year, after a 0.8% rise seen in the previous month and below analysts’ forecasts of 0.6%. The inflation rate has been below 1% in the last six months, lower than ECB target to maintain the inflation rate at just slightly below 2%.

“With regard to the currently low level of inflation in the euro area, one should bear in mind that two-thirds of this deceleration of prices can be attributed to energy and unprocessed food prices, which is to say cyclical factors that are likely to be temporary,” ECB Governing Council member Jens Weidmann  said.

The core inflation rate added 0.8% after a rise of 1% seen in February. Other reports released revealed energy prices dropped by 2.1% in March, while prices for food, tobacco and alcohol increased by 1%, compared to the 1.5% rise seen in February; reports from Eurostat confirmed.

The bearish trend of the EUR/USD pair has been in place since when the Federal Reserve said it would continue to trim its monthly asset purchases by $10 billion a month.

Analysts are expected to the US non-farm payroll data due on Friday; to boost the greenback higher.

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Article provided by HY Markets Forex Blog

Article by Investazor.com

USDJPY had a great Friday and managed to close the week on green. The quotation stopped at resistance level from 102.80 after the whole week was on the downside. The macroeconomic data from Japan was predominantly good. The retail sales y/y beat the expectations while the unemployment fell from 3.7% to 3.6%. However, the household spending y/y was published way below the expected value, an aspect the markets did not ignore and it prompted some concerns.

The explanation for the appreciation of the Japanese yen in the first part of the week would be the geopolitical conflict between the US and Russia, a type of situation that encourages investors to buy safe haven assets. Also, you should take into consideration the reaction of the markets, which suggested through the price action that they are not so scared anymore of a war and hope that the tensions will be over and the two historic giants will make peace.

Economic Calendar

Manufacturing PMI (12:15 GTM)-Monday. It is a leading indicator of economic health and basically it is an index based on surveyed purchasing managers in the manufacturing industry. Above 50.0 indicates industry expansion whereas below indicates contraction. Last month the actual published value was 55.5.

The post USDJPY Forecast For March 31 – April 4 appeared first on investazor.com.

Article by Investazor.com

Even though NZDUSD looked quite bearish for last week, the bulls were relentless and managed to push the price higher setting another annual high at 0.8700 from which it retraced a bit and closed the week at 0.8650. The one and only macroeconomic indicator for New Zeeland last week proved to be essential for bulls’ justification of raising the quotation as the trade balance came at the highest level since May 2011. As a result, the price itself was again pushed towards the highs of 2011.

These events made the governor of the central bank to react and to say that having into consideration the promising recovery New Zeeland economy is having and that exports are hurt by the strength of the NZD, we may see further interest rate hikes this year.

Economic Calendar

Building Consents m/m (10:45 GTM)-Sunday. This is a leading gauge of future construction activity because obtaining government approval is among the first steps in constructing a new building. It follows that this indicator measures the change in the number of new building approvals issued. Also, it is a medium impact indicator and lately it had fluctuant values. In February it was -8.3%, so it will draw some attention from the investors.

The post NZD/USD Forecast For March 31- April 4 appeared first on investazor.com.

EUR/GBP daily trend was bearish until February when price touched 0.8158, the 61.8% Fibonacci retracement on the 2012-2013 uptrend. In the first half of March a secondary bullish signal appeared when the push towards 0.8400 helped establish a higher swing high. In the medium to long term, this underlines the weakness behind the recent bearish trend and that a larger correction or even a change to a large bullish trend is very likely. Fortunately for us, the technical landscape offers more then a few hints as to what can come next and which are the most important levels to watch right now.

Technical Analysis

Coupling Elliot Wave A-B-C retracement analysis with Fibonacci levels, the first push towards 0.8400 and 38.2% Fibonacci retracement level is the first corrective wave (A). (B) marks the search for a higher low, and 0.8249 is a very good candidate for this low. The support confluence in this area includes 61.8% retracement from 0.8157 to 0.8400, the 50-day Moving Average and the previous resistance trendline which is now offering support for the pair.

On the 4H chart, what looks like a bullish engulfing price action pattern can further confirm this bullish scenario if price will manage to close above 0.8282, the 200 Simple Moving Average, at the end of the European session or later in the US session.

The first short term resistance area can be found between 0.8327 and 0.8347. The medium to long term outlook for a bullish continuation targets 0.8400 and ultimately a new higher swing high, which could form at 50% retracement level and pivot zone 0.8642 or at 61.8% retracement level 0.8535.

If EUR/GBP fails to hold above the 0.8249 level for any reason, all uptrend scenarios will be invalidated, leading to another test of the main support at 0.8158.

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Prepared by Alexandru Z., Chief Currency Strategist at Capital Trust Markets

Article By RoboForex.com

Analysis for March 31^st, 2014

DJIA Index

Possibly, wave [2] took the form of zigzag pattern with long flat pattern (X) inside it. Probably, on minor wave level price is forming initial ascending impulses, that’s why I opened buy order during local correction. Stop is placed at minimum, but I’m planning to move it into the black as soon as market starts moving upwards.

More detailed wave structure is shown on H1 chart. Probably, after completing zigzag pattern inside wave (Y), price formed bullish impulse. Probably, instrument may form extension inside wave 3 during the day.

Crude Oil

Probably, Oil is about to complete wave 2. Earlier price formed strong bearish impulse inside the first wave. I’ve already started selling carefully, because descending movement inside the third wave may be very fast.

As we can see at the H1 chart, Oil formed zigzag pattern inside wave 2. On minor wave level, price completed initial impulse inside wave (1). After local correction, instrument is expected to start moving downwards inside the third wave.

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

Analysis for March 31^st, 2014

EUR USD, “Euro vs US Dollar”

H4 chart of EUR USD shows ascending movement, which is indicated by Engulfing Bullish pattern near Window from daily chart. Upper Window and Moving Average 55 are resistance levels. Three Line Break chart and Heiken Ashi candlesticks confirm ascending movement.

H1 chart of EUR USD shows bullish tendency within descending trend, which started after Morning Star pattern. Upper Window is broken; now it’s support level. Three Line Break chart indicates current trend; Heiken Ashi candlesticks confirm ascending movement.

USD JPY, “US Dollar vs Japanese Yen”

H4 chart of USD JPY shows ascending tendency, which is indicated by Engulfing Bullish pattern. Three Line Break chart and Heiken Ashi candlesticks confirm ascending movement.

H1 chart of USD JPY shows resistance from upper Window; price may form bearish patterns near it. Three Line Break chart and Heiken Ashi candlesticks confirm ascending movement.

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article by Investazor.com

The EURUSD quotation was rejected from 1.3700, last Friday. Not it is trading sideways above 1.3745. A break above the local resistance could signal a continuation of the rally to 1.3800, while a break and close, on a 60 minutes chart, bellow the current support could mean another test on 1.3700. The Rising Wedge that is drawn could be a strong bearish signal in case of confirmation.

The post EURUSD Price Action For March 31 appeared first on investazor.com.

By CentralBankNews.info
    Fiji’s central bank maintained its Overnight Policy Rate at 0.5 percent, steady since November 2011, saying the current policy stance “was appropriate as the outlook for foreign reserves and inflation is comfortable.”
    Barry Whiteside, governor of the Reserve Bank of Fiji, added in a statement issued today after a monthly board on meeting on March 28 that the accommodative policy stance would be re-aligned if there are challenges to the bank’s twin core objectives of foreign reserves and inflation.
    Inflation in Fiji fell to 0.2 percent in February, the lowest since April 2009, from 2.3 percent in January. The central bank attributed to drop in inflation to free primary and secondary education that was announced in the 2014 national budget.
    Fiji’s foreign reserves were estimated at US$1.705 billion as of March 28, enough for 4.5 months of goods, and down from $1.763 billion as of Jan. 30.

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