Month: April 2014

EURUSD has turned bullish at start of the month from 1.3670 where we called end of a double zigzag. From there market recovered clearly in impulsive fashion through the upper trendline of a corrective channel which is very important sign for a change in trend. In fact. even a decline from latest swing high is in three legs at the moment and approaching 61.8% Fibonacci level where we expect a new turn to the upside. Ideally market will revisit 1.3900 in this week, while 1.3671 low is now breached.

EURUSD 4h Elliott Wave Analysis

Cable is trading sideways for the last few days and moving slightly away from the highs. However, we see pullback as corrective wave B) that is part of ongoing uptrend. Therefore we expect a resumption of a bullish trend soon; ideally in the next 24 hours so traders should be aware of a push up in wave C) of (5) towards 1.6900-1.6700 region. Only move beneath 1.6657 would be a trend changer.

GBPUSD 4h Elliott Wave Analysis

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By CentralBankNews.info
    Israel’s central bank maintained its benchmark interest rate at 0.75 percent, as expected, citing some acceleration in the economy’s expansion in the first quarter of this year, a weakening of the shekel and weak growth in emerging market economies, steady inflation expectations and a continued rise in home prices.
    The Bank of Israel (BOI), which made a surprise 25 basis point cut to its rate in February, also repeated its guidance that future rate changes depend on the inflationary environment, economic growth in Israel and the global economy, monetary policy of major central banks and the shekel’s exchange rate.
    Israel’s headline inflation rate rose to 1.3 percent in March from 1.2 percent, with the bank saying the housing component increased notably while there were marked declines in clothing, fruit and vegetables.
    Private forecasters projections for the next 12 months eased slightly to 1.5 percent on average, but medium and long-term forecast were steady, slightly above the BOI’s midpoint inflation target of 2.0 percent, within a range of plus/minus one percentage point.
    The BOI added that private forecasters are not expecting any rate changes in coming months.
    The BOI’s rate cut in February was in reaction to a surprise fall in inflation in January, pessimism among consumers and continued strength in the shekel, which harms exporters. In 2013 the BOI cut its rate by 75 basis points, partly in response to the strong shekel.
    In its March forecast, the BOI projects inflation until the first quarter of 2015 at 1.6 percent, with the benchmark interest rate to begin rising at a moderate rate in 2015.
     Activity in Israel’s economy was recently revised upward for the fourth quarter of last year to 3.2 percent and “data that became available this month indicate that in the first quarter there was some acceleration in the expansion of the economy, led by domestic demand and services exports, and with a virtual standstill in goods exports,” the BOI said.
    Last month the BOI cut its 2014 growth forecast to 3.1 percent, with Gross Domestic Product growth excluding the impact of natural gas production at 2.8 percent. In 2015 GDP is forecast to expand by 3.0 percent.
    Israel’s shekel rose by 0.3 percent against the U.S. dollar since the last monetary policy meeting of the BOI, trading at 3.48 to the dollar today. Year to date, the exchange rate has risen 0.2 percent, but is up 4.5 percent over the past 12 months, the central bank said.

    http://ift.tt/1iP0FNb
   
 

By HY Markets Forex Blog

Crude prices bounced back from its biggest loss in three weeks on Monday, as the tensions in Ukraine escalates and the US and European Union warned Russia with new sanctions.

The North American West Texas Intermediate (WTI) crude for May delivery gained 0.70% to $101.30 a barrel on the New York’s Nymex at the time of writing. At the same time the European benchmark Brent crude for June settlement climbed 0.24% higher to $109.95 on the London-based ICE Futures Europe exchange.

Crude – Ukraine

The US and European Union are expected to announce further sanctions which is expected to commence today, against Russian companies and individuals close to the Russian President Vladimir Putin, according to a senior US administration official.

Officials from the European Union nations are expected to meet later in the day to put together a list of individuals and companies and impose further sanctions which will include asset freezes and travel bans, according to reports.

“Oil prices are going to be higher this week because of pressures linked to the situation around Russia and Ukraine,” said Robin Mills, the head of consulting at Manaar Energy Consulting and Project Management. “There’s a general concern in markets about the situation.”

Meanwhile in the US, hedge funds cut their net-long positions on the North American West Texas Intermediate crude by 2.3% to 333,791 in the week ending April 22, reports from the Commodity Futures Trading Commission showed.

Upcoming Economic Releases

Investors will be awaiting a string of economic reports in the upcoming weeks, including the outcome from the Federal Open Market Committee meeting scheduled for Wednesday.

Meanwhile the Federal Reserve (Fed) Chair Janet Yellen is expected to deliver a speech on Thursday at the Independent Community Bankers of America’s Annual Policy Summit in Washington DC.

Other economic releases includes the non-farm payrolls figures due Friday, with estimates of 210,000 additional new jobs, compared to the previous figure of 192,000.

Last week, the US Energy Information Administration reported a rise in crude inventories by 3.52 million barrels last week, climbing to an all-time high of 397.7 million.

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The post Crude Prices Bounces Back From Losses on Ukraine appeared first on | HY Markets Official blog.

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By HY Markets Forex Blog

Stocks in the Asian region were seen trading lower on the first day of the trading week as investors weighed corporate earnings and the escalating tension between Russia and Ukraine continues and raises fears.

Stocks – Asia

In Japan, the nation reported an upbeat Retail sales, coming in higher than expected for March. Reports released showed that the sales climbed 11% higher year-on-year in March, compared to 3.6% seen in the previous month and exceeding analysts’ forecast of a 10.8% rise.

Japan’s benchmark Nikkei 225 index was at 0.98% to close at 14,288.23 points, while Tokyo’s broader Topix index edged 0.79% lower at 1,160.74 points. Nippon Electric Glass saw the most losses on the Nikkei index, as it lost 6.72% while Okuma climbed 8.24% higher.

China’s benchmark Shanghai Composite fell 0.21% lower to 2,032.15, while Hong Kong’s Hang Seng index lost 0.25% to 22,169.00 points at the time of writing. Sands China slid by 3%, while Swire Pacific gained 2.10%.

Ukraine

The US and European Union warned Russia with further sanctions against the country as the crises in Ukraine escalates over the weekend.

Further sanctions targeted at forcing Russia to pull out their military forces from the Ukraine, is expected to begin from Monday, according to a senior US administration official.

“The Ukrainian tensions are once again mounting and the word coming from Capitol Hill and also Europe is that sanctions on Russian officials will be harder, more direct and onerous on President Putin’s inner circle; this will disrupt normal trading conditions,” a Melbourne-based market strategist at IG Evan Lucas wrote in a note.

Stocks – Europe

Stocks in Europe were mostly trading higher on Monday while investors focus on some important economic reports in the upcoming weeks.

The Euro Stoxx 50 climbed 0.51% higher to 3,164.50 at the time of writing, while the German DAX gained 0.48% to 9,453.80. At the same time, the French CAC 40 rose 0.57% to 4,470, while the UK benchmark FTSE 100 added 0.45% to 6,714.30.

Swedbank post a rise of 12% in its first-quarter net profit, supported by the high demand in its housing sector, while the Swiss cement-maker Holcim reported its first quarter profit dropped by 57% to 80 million francs, as the revenue fell by 5.3%

Investors will be awaiting a string of economic reports in the upcoming weeks, including the eurozone consumer price inflation for April and gross domestic product data for the first quarter from Spain and the UK later in the week.

Stocks – Australia

In Sydney, the benchmark S&P/ASX 200 index came in 0.02% lower at 5,5529.90 points.

Australia’s drug delivery company Acrux slid by over 30%, while the food manufacturer Goodman Fielder rallied 18.20%.

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The post Stocks Market Review 28th April appeared first on | HY Markets Official blog.

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By HY Markets Forex Blog

EUR/USD continues to rise after the recent reversal from the support level 1.3800. This support level corresponds to the breakout level of the earlier down channel from the middle of March (which has enclosed the preceding intermediate corrective wave (2), as you can see below).

The support area surrounding 1.3800 was also strengthened by 50% Fibonacci Correction of the preceding sharp minor upward impulse wave 1. The pair is expected to rise toward the closest buy target 1.3900 – followed by 1.3970 (top of wave (1)).

The post HY MARKETS News : Forex Report: EUR/USD appeared first on | HY Markets Official blog.

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By HY Markets Forex Blog

Silver recently reversed sharply up from the support level 19.00 that was set as the sell target in our earlier report for this previous metal. The strength of the support at 19.00 can be clearly seen when you examine the previous price action from last December.

The latest upward correction from 19.00 stopped between the 61.8% Fibonacci Correction of the recent downward price impulse from the end of wave 2 and 38.2% Fibonacci Retracement of the longer downward impulse from March.Silver is expected to retest the support at 19.00 in the nearest time.

The post HY MARKETS News: Commodities Report:Silver appeared first on | HY Markets Official blog.

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By HY Markets Forex Blog

FTSE 100 recently reversed sharply up from the strong support zone surrounding the support level 6500.00 (which also earlier reversed the index twice up in the middle of last month). The support zone near 6500.00 was strengthened by the lower daily Bollinger Band and the support trendline of the daily up channel from last year.

FTSE 100 is currently trading close to the strong resistance level 6700.00 – which also previously reversed the index down at the start of April. If FTSE 100 breaks above 6700.00 – it can rise to the next buy target at 6800.00.

The post HY MARKETS News : Index Report:FTSE 100 appeared first on | HY Markets Official blog.

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By HY Markets Forex Blog

Coca-Cola has been rising steadily in the last few trading sessions – in line with earlier report for this company. The price previously broke above the upper resistance trendline of the wide daily down channel from last May (as you can see from the daily Coca-Cola chart below).

The breakout of this resistance trendline accelerated the currently active C-wave of the second intermediate wave (2) from February. Coca-Cola is expected to continue to rise strongly inside this C-wave toward the next buy target 41.40 (top of earlier primary wave ②).

The post HY MARKETS News : Stocks Report:Coca-Cola Co appeared first on | HY Markets Official blog.

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The coming week is loaded with important economic data and financial events. Senior Strategist Ib Fredslund Madsen provides an overview.

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Video by en.jyskebank.tv

Article By RoboForex.com

Analysis for April 28^th, 2014

DJIA Index

After completing double three pattern inside wave [2], price formed initial bullish impulse inside the first wave. Probably, Index finished correction and started forming the third wave. Possibly, instrument may reach new historic maximum during this week.

More detailed wave structure is shown on H1 chart. Probably, wave (2) took the form of zigzag pattern. On minor wave level, price is forming ascending impulse. Instrument may continue growing up and forming the first wave during the day.

Crude Oil

Oil is falling down inside the third wave. Probably, earlier price formed bearish impulse inside wave 1 and then completed correction inside the second one. During the next several weeks, market may break minimum of the first wave.

As we can see at the H1 chart, instrument finished extension inside the third wave of wave [1] and started correction inside the fourth one. It looks like in the nearest future instrument is expected to form flat pattern. After that, bears may continue pushing price downwards inside wave (5) of [1].

RoboForex Analytical Department

Article By RoboForex.com

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