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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 may be right to bet that the first interest rate hike since 2007 would come in the middle of next year. He also said he was in favor of keeping rates low for longer, given the uncertainties surrounding UK and global economic growth. Minutes from the BoE’s Oct. 9 meeting, due out on Wednesday, will be watched for more of that dovish tone. Talk among analysts that another member of...

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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 currently being tested. If the price action continues to move lower, support will be found at $379.68. If buying pressures dominate, the price action should tend towards the daily pivot...

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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 was no follow-through to the upside. The supply picture remains bearish because of overproduction by the U.S., Russia, and Saudi Arabia. The U.S. continues to overproduce because of improved drilling....

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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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Can the Fed Come To the Rescue Again If Needed?

October 12, 2014
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Can the Fed Come To the Rescue Again If Needed?

My concerns about high market valuations, excessive investor euphoria, the Fed eliminating its QE stimulus, growing economic woes in euro-land and so forth, became more serious when my firm’s technical indicators triggered a sell signal on July 31. As readers know, we had been cautious, expecting a 15% to...

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E-mini Russell 2000 Index (TF) Futures Technical Analysis – October 10, 2014 Forecast

October 10, 2014
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E-mini Russell 2000 Index (TF) Futures Technical Analysis – October 10, 2014 Forecast

The December E-mini Russell 2000 Index is now in a bear market because of the 20% decline from the contract high. Value-seekers are going to try to put an early end to the bear by aggressively buying the index on the current weakness, or aggressive short-sellers are going to...

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EUR/USD Mid-Session Technical Analysis for October 10, 2014

October 10, 2014
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EUR/USD Mid-Session Technical Analysis for October 10, 2014

Daily EUR/USD Technical Analysis Daily EUR/USD The EUR/USD is trading lower at the mid-session, following yesterday’s potentially bearish closing price reversal top. The top at 1.2791 was formed inside the 1.2747 to 1.2805 retracement zone. Additional resistance is a downtrending angle at 1.2814 today. The early session weakness was...

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Crude Oil Finishes Week Lower on Supply Concerns

October 10, 2014
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Crude Oil Finishes Week Lower on Supply Concerns

December crude oil futures are set to finish the week sharply lower. This week, West Texas Intermediate crude also joined Brent crude in officially turning into a bear market. This occurs when a market declines to 20% below its peak. Rising global supplies and falling demand are the catalysts...

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GBP/USD Fundamental Analysis October 9, 2014 Forecast

October 8, 2014
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GBP/USD Fundamental Analysis October 9, 2014 Forecast

Analysis and Recommendations: The GBP/USD eased by 20 points to trade at 1.6078 paying little attention to the Halifax House Price Index which met expectations. Traders are watching the Bank of England meeting tomorrow. Yesterday the Sterling Pound traded on a positive note and gained 0.1 percent. The currency...

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USD/CAD Fundamental Analysis October 9, 2014 Forecast

October 8, 2014
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USD/CAD Fundamental Analysis October 9, 2014 Forecast

Analysis and Recommendations: The USD/CAD moved up along with the US dollar to trade at 1.1170 ahead of Canadian housing starts and the FOMC minutes release.  The dollar’s was pressured by stock market slumps both in Japan and abroad as well as by a fall in long-term U.S. interest...

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