AUDUSD Daily Analysis – May 2, 2014
AUDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9461, the rise from 0.9227 would possibly be consolidation of the downtrend.
ETF
China mulls ‘mega’ FTA
China (FXI, quote) has proposed studying the feasibility of a mega free-trade agreement in the Asia-Pacific region as the many flourishing FTAs in the area could burden businesses with different standards, a senior official said on Wednesday.
Trading the NFP Release with EURUSD (May 2, 2014)
EURUSD is trading inside a symmetrical triangle on its 4-hour time frame as traders can’t quite establish a clear direction on the pair. Price is testing the top of the triangle around the 1.3875 levels but stochastic is reflecting selling pressure.
EURUSD Daily Analysis – May 1, 2014
EURUSD is facing 1.3879 resistance, a break above this level will signal resumption of the uptrend from 1.3672, then next target would be at 1.3950 area.
AUDUSD Daily Analysis – May 1, 2014
AUDUSD is facing 0.9316 resistance, a break above this level will indicate that the downtrend from 0.9461 had completed at 0.9227 already,
AUDCAD Short-Term Downtrend (May 1, 2014)
AUDCAD is currently testing a falling trend line on its 1-hour time frame, as it has pulled up after reaching the 1.0150 minor psychological support.
Yesterday’s price action confirming weakness in oil
If any further evidence were needed of the bearish sentiment towards oil, yesterday’s price action confirmed this weakness once more, as the commodity attempted to rise in early trading, before selling off sharply later in the oil trading session, with the June WTI futures contract closing at 101.28 per barrel, having hit an intra day high of $102.20 per barrel.
GBPUSD Daily Analysis – April 30, 2014
GBPUSD stays in a trading range between 1.6762 and 1.6857.
Economic Problems Continue to Plague the Ukraine
Reports overnight show Ukraine’s GDP fell by 1.1% yr/yr for the first quarter in 2014. Ukraine’s department of State Statistic Services report also indicated its economy dropped 2% in January-March from the previous quarter.
AUDUSD Daily Analysis – April 30, 2014
AUDUSD remains in downtrend from 0.9461.