Monday, 29 April 2019

S&P 500 and Dollar Trip Crossing the Breakout Finish Line, What to Watch Now?

The start of the week has already started the fundamental wheels turning between trade wars, growth and earnings influences; but that has done little to prompt follow through from the likes of the S&P 500 or EURUSD.


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AUD/USD Technical Analysis: Aussie Outlook Bearish Despite Bounce

The Australian Dollar managed a bounce having found support below the 0.70 figure but overall positioning still seems to favor a bearish trend bias.


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Australian Dollar Wilts As China Manufacturing PMI Misses Forecasts

The Australian Dollar was hit hard by PMI data showing that China's manufacturing sector grew very marginally in April


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Euro Gains But Resistance May Sink EUR/USD, AUD/USD Eyes China PMI

The Euro gained as markets digested Italy avoiding a sovereign credit rating downgrade, EUR/USD may turn lower as resistance holds. AUD/USD may rise on China manufacturing PMI data.


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Currency Volatility: Euro and Mexican Peso Ripe for Price Action

Eurozone and Mexico GDP puts EURUSD and USDMXN in forex traders' crosshairs for currencies to watch ahead of tomorrow's potentially market-moving data.


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S&P 500 Outlook: GOOG Falls Ahead of Earnings from GE, GM

Earnings season continues with first quarter results from Alphabet’s Google, General Electric and General Motors. US equities will then await Apple earnings, slated for Tuesday evening.


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FX Week Ahead - Top 5 Events: EZ GDP and CPI; Canada GDP; FOMC; US NFP

The end of April and beginning of May will bring the usual supersaturated economic calendar this week.


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GBPUSD: 73.4% of Traders Remain Net-Long

Though traders are less net-long than yesterday and compared with last week, these changes are relatively small. As a result, the current sentiment suggests a bearish trading bias.


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EURUSD: Net-Short Positions Increased by 20.4% from Last Week

Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.


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Gold: Prices May Continue to Fall

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Spot Gold-bearish contrarian trading bias.


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Top 5 Events: April US Nonfarm Payrolls & EURUSD Price Forecast

The April US Change in Nonfarm Payrolls report is due on Friday at 12:30 GMT.


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Top 5 Events: May Fed Meeting & USDJPY Price Forecast

The May Fed meeting will conclude on Wednesday, May 1 at 18:00 GMT.


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Currency Volatility: GBPUSD, NZDUSD, USDTRY Weekly Outlook

GBPUSD volatility covers BoE rate decision, where risks are for a hawkish dissenter, NZDUSD implied volatility highest among G10 currencies.


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Canadian Dollar Price Outlook: USD/CAD Pullback Eyes Breakout Support

Loonie is on firm footing early in the week the pullback now testing the origins of last week’s price breakout. These are the levels that matter on the USD/CAD charts.


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Top 5 Events: February Canada GDP & USDCAD Price Forecast

The February Canada GDP report is due on Tuesday, April 30 at 12:30 GMT.


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Silver Prices Near Large Reversal; Crude Oil and DXY in Terminal Waves

Elliott wave patterns for silver, crude oil, and US Dollar Index point to tired trends.


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Top 5 Events: Q1’19 Eurozone GDP and CPI & EURJPY Price Forecast

The Q1’19 Eurozone GDP report is due on Tuesday, April 30 at 09:00 GMT while the initial April Eurozone CPI report us due on Friday, May 3 at 09:00 GMT.


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Gold Price Forecast: Bearish Formations Remains in Play Ahead of FOMC

The outlook for gold remains mired by a head-and-shoulders formation, with the RSI highlighting a similar dynamic as it tracks the bearish trends from earlier this year.


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Weekly Trade Levels for Euro, Sterling, Loonie, Aussie, Gold & Oil

Webinar highlighting active trade setups we’re tracking into the weekly open. Here are the updated targets & invalidation levels that matter on the technical charts.


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GBPJPY, GBPUSD in Focus as Brexit Cross-Party Talks Continue

The next few days could prove to be critical for the Brexit saga.


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ECB Leaves Rates Unchanged, Rate Cut Looms, EUR/USD Steady Ahead of Press Conference

The European Central Bank left all three official rates unchanged as expected. Traders are now focusing on the press conference for any clue...