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2014.05.08 12:30 6:30AM ET | EURUSD Currency Pair

Here are the Pivot Points Levels with Support (S) and Resistance (R) for the EURUSD currency pair today. Price action is currently trading at the 1.39397 price level and over the daily pivot point, according to data at 6:30 AM ET. The EURUSD high for the day has been 1.39397 while the low of day has reached to 1.39049. The pair earlier today opened the Asian trading session below the daily pivot and has trended higher into the North American morning session.

Daily Pivot Point: 1.39188
— S1 – 1.38997
— S2 – 1.38902
— S3 – 1.38711
— R1 – 1.39283
— R2 – 1.39474
— R3 – 1.39569

Weekly Pivot Points: EURUSD

Prices are currently trading over the weekly pivot point and above the R1 resistance level at time of writing. The EURUSD has been on an overall bullish trend this week after opening the trading week above the weekly pivot.

Weekly Pivot Point: 1.38420
— S1 – 1.37957
— S2 – 1.37233
— S3 – 1.36770
— R1 – 1.39144
— R2 – 1.39607
— R3 – 1.40331

By CountingPips.com – Forex Trading Apps & Currency Trade Tools

Disclaimer: Foreign Currency trading and trading on margin carries a high level of risk and volatility and can result in loss of part or all of your investment. All information and opinions contained do not constitute investment advice and accuracy of prices, charts, calculations cannot be guaranteed.

By CentralBankNews.info
    Malaysia’s central bank held its Overnight Policy Rate (OPR) steady at 3.0 percent but warned that financial imbalances were building up and “going forward, the degree of monetary accommodation may need to be adjusted to ensure that the risks arising from the accumulation of these imbalances would not undermine the growth prospects of the Malaysian economy.”
    Bank Negara Malaysia (BNM), which has maintained its benchmark rate since May 2011, said inflation had stabilized in recent months but going forward it was expected to remain above its long-run average due to higher domestic costs.
    “Amid the firm growth prospects and inflation remaining above its long-run average, there are signs of the continued build-up of financial imbalances,” BNM said, adding that macroeconomic policies and prudential measures helped moderate growth in household debt, but the current monetary and financial conditions could lead to a broader build up in imbalances.
    Malaysia’s headline inflation rate was steady at 3.5 percent in March from February after accelerating since September.
    The central bank has often said it expects inflation to rise this year and possibly exceed the long-term average of 3.2 percent due to cuts in subsidies and changes in taxes in April. Economists expect the central bank to raise rates later this year to contain inflationary pressures.

    BNM said the domestic economy continued to expand in the first quarter of this year and domestic demand and the improved international environment, including in Asia, will support it going forward.
    “Conditions in the international financial markets have also improved following gradual and orderly policy adjustments in the major advanced economies while the impact from geopolitical developments remains contained,” the bank said.
    Malaysia’s Gross Domestic Product expanded by 2.1 percent in the fourth quarter of last year from the third quarter for annual growth of 5.1 percent, up from 5.0 percent.
    In addition to rising exports, the central bank expects private sector spending to remain robust, underpinned by stable income growth, and investment activity to be supported by broad-based capital spending, particularly in manufacturing and services.
    “The prospects are therefore for the growth momentum to be sustained,” BNM said.

    http://ift.tt/1iP0FNb

Technical Sentiment: Bullish

Key Takeaways

• Australian employers added 14.2K in April;
• Unemployment Rate remained steady at 5.8%
• Traders focus on the resistance levels ahead, as the pair will attempt to test and break 1.0909.

Positive Australian employment data gave AUD/NZD the necessary boost at a crucial location. Disappointing data would have led to the formation of a lower high at 1.0785, followed by a deeper correction back to 1.0640. Instead, traders turn their attention back to 1.0909, with a larger target around the 200-Day Moving Average if April’s resistance fails to hold.

Technical Analysis

April’s price pivot zone at 1.0825 is the last hurdle AUD/NZD needs to break in order to open up the way to 1.0909 and above. The current rally has extended far enough that we are no longer counting on a lower high being formed. A future swing low below 1.0640 appears unlikely given the current landscape.

The pair is trading above the 50, 100 and 200 Simple Moving Average on the 4H time frame. Price broke above the resistance trendline drawn on the most recent swing highs from April, as well as the 61.8% Fibonacci Retracement between 1.0909 – 1.0643. AUD/NZD is bullish towards the resistance in this situation.

Daily Stochastic is exiting oversold territory and turning bullish. The Daily chart shows yet another higher low, adding strength to the case of a trend reversal and considerably increasing chances 1.0909 will break on the next attempt. Above 1.0909, February 4^th High of 1.0941 should be crossed fairly easily, as the main target for a break-out is located much higher on the 200-Day Moving Average, currently priced at 1.1030.

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

Article By RoboForex.com

Analysis for May 8^th, 2014

EUR USD, “Euro vs US Dollar”

After short correction, Euro started growing up. Possibly, price will reach new maximum during the day. Main target is the group of upper fibo levels at 1.4005 – 1.4000.

As we can see at H1 chart, local correction was supported by local level of 61.8% (1.3903). According to analysis of temporary fibo-zones, upper targets may be reached by the ned of Friday. If later pair rebounds from them, market may start new correction.

USD CHF, “US Dollar vs Swiss Franc”

Probably, Franc is starting its movement inside main trend. I’m still keeping my three sell orders. In the near term, instrument is expected to reach the group of lower fibo levels at 0.8695.

As we can see at H1 chart, Franc rebounded from its intermediate target at 0.8720 – 0.8715 and started new correction, which was supported by local level of 78.6% (0.8765). It looks like bears started new descending movement to reach their main target at 0.8695.

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 May 8^th, 2014

EUR USD, “Euro vs US Dollar”

Euro is being corrected towards previous ascending impulse. We think, today price may continue moving upwards to reach target at level of 1.3990. Later, in our opinion, instrument may return to level of 1.3880 and then continue growing up towards level of 1.4100.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is forming descending structure, which may be considered as correction. Later, in our opinion, instrument may continue growing up towards level of 1.7020 and then form another descending structure. After that, pair may consolidate and form continuation pattern. Main target is at level of 1.7730.

USD CHF, “US Dollar vs Swiss Franc”

Franc is moving upwards slowly. We think, today price may continue moving downwards to reach level of 0.8700. Later, in our opinion, instrument may return to level of 0.8770 and then continue moving inside descending trend to reach level of 0.8630.

USD JPY, “US Dollar vs Japanese Yen”

Yen formed consolidation channel. We think, today price may continue falling down to reach level of 101.00, start new correction towards level of 102.10 and then form another descending structure towards main target at level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar completed another ascending structure and broke maximum of current wave. We think, today price may consolidate for a while, form reversal pattern, and then continue moving downwards. Next target is at level of 0.9200.

USD RUB, “US Dollar vs Russian Ruble”

Ruble continues falling down. We think, today price may continue falling down towards target at level of 34.80, test level of 35.22 from below, and then complete this descending wave by forming another descending structure to reach level of 34.70. Later, in our opinion, instrument may form new ascending wave towards level of 37.50.

XAU USD, “Gold vs US Dollar”

Gold is being corrected towards level of 1280. We think, today price may complete this correction and then form ascending wave towards level of 1321. Later, in our opinion, instrument may complete this ascending wave and start forming correctional bullish flag pattern with target at level of 1290. After that price may continue growing up towards main target at level of 1435.

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.

By CentralBankNews.info
    The Philippine central bank maintained its key policy rate at 3.50 percent but raised its reserve requirement by a further 100 basis points to 20 percent due to solid domestic activity and “to help mitigate potential risks to financial stability that could arise from the strong growth in domestic liquidity.”
    The Bangko Sentral ng Pilipinas (BSP), which has maintained its benchmark overnight borrowing rate since October 2012, said the latest forecast shows inflation staying within the bank’s 2014 target range of 4.0 percent, plus/minus one percentage point, and the 2015 target of 3.0 percent, plus/minus one percentage point.
    “At the same time, the Monetary Board noted that the balance of risks to the inflation outlook continues to lean to the upside, with potential price pressures emanating from the possible uptick in food prices, as a result of expected drier weather conditions, as well as pending petitions for adjustments in transport fares and power rates,” the BSP said.
    In March the BSP raised its reserve requirements by 100 basis points and said it would consider further adjustments in its policy tools to safeguard price and financial stability. In 2013 the BSP cut the rate of its Special Deposit Account (SDA) by a total of 150 basis points to 2.0 percent to reduce the inflow of foreign capital and to divert those funds to more productive use.

    Headline inflation in the Philippines rose to 4.1 percent in April from 3.9 percent, slightly higher than expected by the central bank, but within its forecast range of 3.6 to 4.5 percent.
    “The BSP also remains prepared to implement policy actions as needed to prevent a potential build-up in inflation expectations and financial imbalances,” the bank said.
    Gross Domestic Product in the Philippines rose by 1.5 percent in the fourth quarter of 2013 from the previous quarter for annual growth of 6.5 percent, down from 6.9 percent.
 
    http://ift.tt/1iP0FNb

By CentralBankNews.info
     Norway’s central bank left its policy rate steady at 1.5 percent, as expected, and confirmed its guidance from March that the rate should be maintained at this level until the summer of 2015 in order for inflation to remain somewhat below, but close to the 2.5 percent target in years ahead.
    Norges Bank, which last cut its rate in March 2012, said domestic and international economic developments were broadly in line with expectations though it acknowledged that uncertainty had risen somewhat due to the conflict in Ukraine, but so far the ripple effects have been limited.
    “Market expectations with regard to key rates abroad have edged down, primarily driven by lower key rate expectations in Sweden and the euro area,” the bank added.
    In Norway, bank lending and deposit rates had decreased somewhat while house price inflation had picked up again and house prices were slightly higher than predicted in March, the bank said.
    Norway’s inflation rate eased to 2.0 percent in March from 2.1 percent in February.
    In its March monetary policy report the central bank forecast inflation of 2.0 percent this year and 2015, rising to 2.25 percent in 2016. It’s next forecast is due in June.

    In the fourth quarter of 2013, Norway’s Gross Domestic Product contracted by 0.2 percent from the third quarter for annual growth of 1.1 percent, down from a rate of 2.2 percent.
    The central bank cut its 2014 growth forecast for mainland Norway to 1.75 percent from a previous forecast of 2.0 percent in December, but maintained the 2015 forecast at 2.5 percent and 2016 forecasts at 3.0 percent.
    In March Norges Bank projected an unchanged policy rate of 1.5 percent this year, rising to 1.75 percent in 2015, 2.0 percent in 2016 and 2.50 percent in 2017.

    http://ift.tt/1iP0FNb

By WallStreetDaily.com

I’m an avid believer in the old adage to buy when there’s blood in the streets.

Well, Twitter (TWTR) is hemorrhaging.

The stock has been in steady decline since it peaked on the day after Christmas at $73.31. And its descent was just exacerbated by the expiration of the lock-up period.

Lock-up periods prevent insiders, venture capitalists and other investors from selling shares of an IPO directly after trading begins.

Twitter’s lock-up period freed up about 470 million shares, or 82% of the company’s equity – and shareholders seized the opportunity to dump shares.

The stock is down over 20% since the lock-up period ended.

I was hoping today’s column would end with a recommendation to buy Twitter shares on the cheap.

But that’s not going to happen.

Consider that when Facebook’s (FB) lock-up period ended, 800 million shares were freed up – yet its stock spiked 13% higher. Facebook’s stock kept pushing northward from there.

Facebook’s experience isn’t an isolated incident, either. A stock’s reaction to the end of the lock-up period oftentimes offers a peek into its performance over the next six months.

Perhaps even scarier for Twitter, though, is the emergence of other social media platforms like Instagram.

Instagram is presently in hyper-growth mode, just like Twitter once was.

Social media is a slippery slope.

Every eyeball on Instagram is one less eyeball on Twitter. And once you start losing users, it’s hard to ever get them back (just ask MySpace).

On such merits, let’s pass on Twitter, despite there being blood in the streets.

We’re not about to leave you empty handed, though.

Director of Energy and Resources, Karim Rahemtulla, is currently on the ground in Turkey.

In his article today, he explains why he calls the country a “forever-emerging market.” And, better yet, he provides a way for interested investors to get on board. Click here to read his article now.

Onward and Upward,

Robert Williams

Founder, Wall Street Daily

More Storylines Impacting Markets

Falling Yen Fails to Help Japanese Exports

Contrary to the Keynesian view that a declining currency is a guaranteed path to increased exports, Japan just posted its largest-ever trade deficit – despite a decline of 20% in the value of the yen. The difference between the value of Japan’s exports and imports grew by more than two-thirds in the 12 months through March, to 13.7 trillion yen ($134 billion). This is the third consecutive year of deficits, the longest streak since records began in the 1970s. More alarmingly, the news that exports actually declined compared to the previous quarter – while imports grew by 4.5% – provides evidence of further weakening in the Japanese economy. The falling yen, coupled with rising energy costs and a slowing Chinese economy, lends credence to a global slowdown that has yet to be reflected in U.S. stock prices. Unfortunately, it’s just a matter of time before the news sinks in to investors.

From Death Cross to Golden Cross in 14 Months

In January 2013, the 50-day moving average on the iShares Barclays 20+ Year Treasury Bond Fund (TLT) fell below its 200-day moving average in a classic Death Cross movement. The Death Cross is a strong technical indicator for a decline in bond prices. And since interest rates move in the opposite direction of bond prices, this foreshadowed an extended rise in interest rates. This all changed on March 20, 2014 when the 50-day moving average crossed over the 200-day average in another classic movement, called the Golden Cross. This movement foreshadows an extended period of higher prices in longer maturity Treasuries – and a corresponding decrease in interest rates. This flies in the face of economists’ projections of a strengthening U.S. economy. The Golden Cross suggests that Treasury prices will continue to rise (yields will fall) for a number of months to come. If so, the anemic economic growth is likely to worsen – putting sustained downward pressure on U.S. stock valuations.

The post Twitter’s Freefall Won’t End Soon appeared first on Wall Street Daily.

Article By WallStreetDaily.com

Original Article: Twitter’s Freefall Won’t End Soon

By WallStreetDaily.com

As a frequent flyer, I’m often eligible for last-minute upgrades.

So when I heard my name called last week while I was waiting in the Newark Airport, I rushed up to the desk to claim my prize.

To my dismay, however, I wasn’t getting an upgrade.

Instead, I was being called into questioning by two members of Customs and Border Patrol. Seriously.

Apparently, the officers were very interested in my trip to Turkey.

Since Turkey is a longstanding member of NATO and a staunch ally of the United States, I was confused, to say the least.

I would have understood if someone had questioned my desire to go to, say, the Strait of Hormuz or Cairo during the revolution. But Turkey?

Well, as it turns out, the officers were simply interested in my views on Syria.

We talked for a bit – and even shared a few jokes. I also informed them that they could check out my research on Wall Street Daily if they wanted reassurance about my plans!

I was fully cooperative and ended up not being sequestered for long. (Of course, they weren’t as cooperative when I began asking them questions!)

And now that I’m in Turkey and have had the chance to perform some boots-on-the-ground research, I have to say – there’s a ton of investment potential hiding here…

Following the Action on the Ground

Istanbul is buzzing. This is my sixth visit in the past 20 years, and the atmosphere has changed a lot…

It’s not as seedy. In fact, it’s very sophisticated in places and, overall, it’s one of the most beautiful and vibrant cities in the world.

You’ll see everything from miniskirts to mullahs and everything in between. Alcohol isn’t as rare now, and the same goes for the hopping nightlife locations.

No matter how much Istanbul has changed on the outside, however, very little has changed about its investment profile.

You see, Turkey is what I consider a “forever-emerging market.” And that spells opportunity, even though many investors are ignoring the potential.

Why Foolish Investors Are Passing on Turkey

Right now, Turkey is down – falling as much at 35% last year (as measured by the stock exchange).

After a decade of strong growth – that saw per capita income swell from $3,500 to over $10,000 – things have stalled. That’s not surprising, of course, after the binge of leveraged real estate speculation, consumer spending and government debt accumulation (thanks to easy money).

Plus, issues in Russia (a very close trading partner) and the European Union aren’t making things any better.

During times like these, most investors will choose to write off the country as an investment.

Don’t make the same mistake…

At the crossroads between East and West, Turkey is what places like Egypt wish they were – and places like Greece hope they can one day be.

Despite what you see in the news, Turkey boasts a secular society. And it’s an economic powerhouse, approaching $1 trillion in GDP.

Ultimately, Turkey will always present opportunity… as long as that opportunity is at the right price. And we’re fast approaching that price…

One of the ways to stake your claim is to look at the closed-end fund market where The Turkish Investment Fund (TKF) trades.

Comprised of leading blue-chip companies, this fund is trading more than 40% below its 52-week high – and at a 12% discount to the value of its assets.

Bottom line: When it comes to any emerging market investment, you want to buy on the dips and sell on momentum! And Turkey is in the midst of a dip right now as far as the markets are concerned.

On the street, things are still buzzing – and that’s something to pay attention to.

When you notice a disconnect between the market and what’s happening on the ground, it’s almost always more profitable to follow the trend on the street.

And in this case, the action on the street indicates that Turkey is closer to the bottom.

Ahead of the tape,

Karim Rahemtulla

The post Why Now is the Time to Invest in Turkey appeared first on Wall Street Daily.

Article By WallStreetDaily.com

Original Article: Why Now is the Time to Invest in Turkey

By WallStreetDaily.com

As a frequent flyer, I’m often eligible for last-minute upgrades.

So when I heard my name called last week while I was waiting in the Newark Airport, I rushed up to the desk to claim my prize.

To my dismay, however, I wasn’t getting an upgrade.

Instead, I was being called into questioning by two members of Customs and Border Patrol. Seriously.

Apparently, the officers were very interested in my trip to Turkey.

Since Turkey is a longstanding member of NATO and a staunch ally of the United States, I was confused, to say the least.

I would have understood if someone had questioned my desire to go to, say, the Strait of Hormuz or Cairo during the revolution. But Turkey?

Well, as it turns out, the officers were simply interested in my views on Syria.

We talked for a bit – and even shared a few jokes. I also informed them that they could check out my research on Wall Street Daily if they wanted reassurance about my plans!

I was fully cooperative and ended up not being sequestered for long. (Of course, they weren’t as cooperative when I began asking them questions!)

And now that I’m in Turkey and have had the chance to perform some boots-on-the-ground research, I have to say – there’s a ton of investment potential hiding here…

Following the Action on the Ground

Istanbul is buzzing. This is my sixth visit in the past 20 years, and the atmosphere has changed a lot…

It’s not as seedy. In fact, it’s very sophisticated in places and, overall, it’s one of the most beautiful and vibrant cities in the world.

You’ll see everything from miniskirts to mullahs and everything in between. Alcohol isn’t as rare now, and the same goes for the hopping nightlife locations.

No matter how much Istanbul has changed on the outside, however, very little has changed about its investment profile.

You see, Turkey is what I consider a “forever-emerging market.” And that spells opportunity, even though many investors are ignoring the potential.

Why Foolish Investors Are Passing on Turkey

Right now, Turkey is down – falling as much at 35% last year (as measured by the stock exchange).

After a decade of strong growth – that saw per capita income swell from $3,500 to over $10,000 – things have stalled. That’s not surprising, of course, after the binge of leveraged real estate speculation, consumer spending and government debt accumulation (thanks to easy money).

Plus, issues in Russia (a very close trading partner) and the European Union aren’t making things any better.

During times like these, most investors will choose to write off the country as an investment.

Don’t make the same mistake…

At the crossroads between East and West, Turkey is what places like Egypt wish they were – and places like Greece hope they can one day be.

Despite what you see in the news, Turkey boasts a secular society. And it’s an economic powerhouse, approaching $1 trillion in GDP.

Ultimately, Turkey will always present opportunity… as long as that opportunity is at the right price. And we’re fast approaching that price…

One of the ways to stake your claim is to look at the closed-end fund market where The Turkish Investment Fund (TKF) trades.

Comprised of leading blue-chip companies, this fund is trading more than 40% below its 52-week high – and at a 12% discount to the value of its assets.

Bottom line: When it comes to any emerging market investment, you want to buy on the dips and sell on momentum! And Turkey is in the midst of a dip right now as far as the markets are concerned.

On the street, things are still buzzing – and that’s something to pay attention to.

When you notice a disconnect between the market and what’s happening on the ground, it’s almost always more profitable to follow the trend on the street.

And in this case, the action on the street indicates that Turkey is closer to the bottom.

Ahead of the tape,

Karim Rahemtulla

The post Why Now is the Time to Invest in Turkey appeared first on Wall Street Daily.

Article By WallStreetDaily.com

Original Article: Why Now is the Time to Invest in Turkey