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EUR/GBP Fundamental Analysis October 27, 2014 Forecast

October 24, 2014
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EUR/GBP Fundamental Analysis October 27, 2014 Forecast

Analysis and Recommendations: The EUR/GBP is flat today to trade at 0.7889 as both currencies traded on an up note but with little volume. There are several reasons why British growth might continue to slow into the end of the year, including the recent burst of financial market volatility and growing signs of renewed stagnation in the euro zone. A persistently wide current account deficit, deteriorating public finances and weak wage growth that dampens consumer spending are also factors. Earlier this week, BoE chief economist Andy Haldane said he was “gloomier” on the economy, implying that interest rates could remain “lower for longer”. The ECB says that lenders have strengthened their balance sheets by almost 203 billion euros, partly under...

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EUR/USD Mid-Session Technical Analysis for October 24, 2014

October 24, 2014
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EUR/USD Mid-Session Technical Analysis for October 24, 2014

Daily EUR/USD Technical Analysis Daily EUR/USD The EUR/USD is trading in a tight and narrow range today. Based on this week’s price action, the market is likely to finish the week with a downside bias. The catalyst behind most of this week’s selling pressure has been talk of the European Central Bank buying corporate debt. Today, the EUR/USD is straddling an uptrending angle at 1.2650. Holding above this angle could trigger a rally into the short-term pivot at 12690....

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Gold Pressured by Bearish Fundamentals

October 24, 2014
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Gold Pressured by Bearish Fundamentals

December Comex Gold is seeing limited action on Friday, but trading slightly higher. The market is set to finish the week sharply lower after reaching a major 50% retracement level earlier in the week at $1255.60. The current chart formation suggests the market may return to at least $1219.40 over the near-term. Fundamentally, the selling pressure was generated by low inflation, a stronger U.S. Dollar and a much improved U.S. stock market. December crude oil futures consolidated most of...

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EUR/GBP Fundamental Analysis October 23, 2014 Forecast

October 22, 2014
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EUR/GBP Fundamental Analysis October 23, 2014 Forecast

Analysis and Recommendations: The EUR/GBP added 28 points to trade at 0.7920 after the pound took a major tumble on minutes from the last Bank of England meeting. The euro remains weak on worries about upcoming plans from the ECB after rumor hit the air about the ECB buying corporate...

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GBP/USD Fundamental Analysis October 23, 2014 Forecast

October 22, 2014
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GBP/USD Fundamental Analysis October 23, 2014 Forecast

GBP/USD Fundamental Analysis October 23, 2014 Forecast Analysis and Recommendations: The GBP/USD tumbled after the release of minutes from the MPC’s last meeting. The pound fell 90 points to trade at 1.6024. Sterling fell sharply against the dollar on Wednesday morning with the minutes from Bank of England’s (BoE)...

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BOE Minutes Show Policymaker Concerns about Weakening Global Economy

October 22, 2014
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BOE Minutes Show Policymaker Concerns about Weakening Global Economy

The GBP/USD sold-off sharply after the release of the latest minutes of the Bank of England. The minutes showed BOE members saw greater risks to the U.K. from a slump in the Euro Zone economy, damping investor bets on an increase in interest rates. According to the minutes, two...

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GBP/USD Fundamental Analysis October 21, 2014 Forecast

October 20, 2014
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GBP/USD Fundamental Analysis October 21, 2014 Forecast

Analysis and Recommendations: The GBP/USD gained 30 points to trade at 1.6123 after Rightmove House Price indexes climbed. The US dollar remains flat ahead of the day’s data releases. The pound gained just over 0.1 percent against the dollar. Bank of England chief economist Andrew Haldane said financial markets...

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Bitcoin Breaks the $380 Support. More Declines Ahead?

October 20, 2014
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Bitcoin Breaks the $380 Support. More Declines Ahead?

Large selling pressures across multiple exchanges have pushed the Bitcoin price below the first daily support level at $385.39 today. The origin and intentions of these co-ordinated sell orders are unknown and could be an attempt to pre-empt a move downwards. The second daily support level at $382.21 is...

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Crude Oil Not Expected to Get Help from OPEC

October 20, 2014
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Crude Oil Not Expected to Get Help from OPEC

December crude oil futures are trading flat at the start of the week. Last week, the market sank to multi-month lows amid concerns over a weakening global economy and its impact of future demand. Value-seekers did jump in when the market reached $79.10, but after the initial thrust, there...

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USD/CAD Weekly Fundamental Analysis, October 20-24, 2014 Forecast

October 18, 2014
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USD/CAD Weekly Fundamental Analysis, October 20-24, 2014 Forecast

Weekly Analysis and Recommendation:  The USD/CAD closed the week at 1.1276 after soaring above the 1.13 level as oil tumbled to new lows but recovered at the end of the week. The US dollar also reversed course midweek after hitting monthly highs and then falling only to recover late...

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EUR/GBP Weekly Fundamental Analysis, October 20-24, 2014 Forecast

October 18, 2014
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EUR/GBP Weekly Fundamental Analysis, October 20-24, 2014 Forecast

Weekly Analysis and Recommendations The EUR/GBP closed the week at 0.7929 holding within its trading range just under the 80 level.  Europe’s eventual recovery, like that of the US, may depend on an asset-buying program similar to the Fed’s by the European Central Bank. ECB president Mario Draghi famously...

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EUR/USD Weekly Fundamental Analysis, October 20-24, 2014 Forecast

October 18, 2014
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EUR/USD Weekly Fundamental Analysis, October 20-24, 2014 Forecast

Weekly Analysis and Recommendation: The EUR/USD tumbled late in the trading day on Friday after touching above the 1.28 level to close the week at 1.2760 on comments from ECB bank members. The European Central Bank has recently taken additional easing steps to help reverse the region’s deflationary economic...

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USD/CAD Fundamental Analysis October 17, 2014 Forecast

October 16, 2014
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USD/CAD Fundamental Analysis October 17, 2014 Forecast

Analysis and Recommendations: The USD/CAD added 73 points as Canadian oil continued to fall as the pair climbed to trade at 1.1323. “The sharp decline in the price of oil will undoubtedly have an impact on the Canadian economy, as merchandise exports fall and new investment in the commodity...

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GBP/USD Fundamental Analysis October 17, 2014 Forecast

October 16, 2014
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GBP/USD Fundamental Analysis October 17, 2014 Forecast

Analysis and Recommendations: The GBP/USD eased by 19 points to trade at 1.600 as the US dollar climbed today. The pound remained a bit on the positive side after yesterday’s dip in unemployment. The rate of consumer-price growth dropped to 1.2pc from 1.5pc in August, the Office for National...

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A Surge in Sovereign Debt Yields Weakens the Euro

October 16, 2014
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A Surge in Sovereign Debt Yields Weakens the Euro

The EUR/USD trader lower amid concerns about sovereign debt issues in Italy, Spain and Portugal. These fears triggered a move in sovereign yields not seen since 2010. As fear set in, global investors once again pressured global equity markets. The explosion in periphery bond yields is just another sign...

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EUR/GBP Fundamental Analysis October 15, 2014 Forecast

October 14, 2014
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EUR/GBP Fundamental Analysis October 15, 2014 Forecast

Analysis and Recommendations: The EUR/GBP gained 2 points as both currencies were in a battle as to which call fall the most after a day of devastating data. Sterling fell to a one-month low against the euro while 10-year gilt yields dropped to the lowest since June last year after...

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USD/CAD Fundamental Analysis October 15, 2014 Forecast

October 14, 2014
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USD/CAD Fundamental Analysis October 15, 2014 Forecast

Analysis and Recommendations: The USD/CAD added 54 points to trade at 1.1253 as the dollar regained momentum and crude oil prices tumbled. The Canadian Dollar has enjoyed gains from upbeat Canadian employment figures on Friday which consequently pulled down the Unemployment Rate. Unemployment was residing at 7.0% in August...

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Expected Decline in Demand Pressures Crude Oil

October 14, 2014
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Expected Decline in Demand Pressures Crude Oil

December Crude Oil futures continued to work lower on Tuesday after the International Energy Agency cut its forecast for oil-demand growth this year and in 2015. Its forecast called for 2014 oil-demand growth by 200,000 barrels a day to just 700,000 barrels a day, its weakest in five years....

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EUR/USD Weekly Fundamental Analysis, 2014, Forecast

October 12, 2014
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EUR/USD Weekly Fundamental Analysis, 2014, Forecast

Weekly Analysis and Recommendation: The EUR/USD tumbled as the markets closed to trade at 1.2629 as the US dollar gained momentum and comments from Mario Draghi talked down the currency.  The dollar gained for a second day after Wednesdays dip, erasing its decline since minutes of the Federal Reserve’s...

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GBP/USD Weekly Fundamental Analysis, 2014, Forecast

October 12, 2014
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GBP/USD Weekly Fundamental Analysis, 2014, Forecast

Weekly Analysis and Recommendation:   The GBP/USD fell most of the week but remains in a fairly tight range between 1.59 and 1.61 paying little attention to the Bank of England meeting on Thursday. U.K. Business Secretary Vince Cable complained the pound is overvalued, historical trends signal there’ll be few...

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