Friday, 15 June 2018

Dollar loses further ground on the day, EUR/USD pushes past 1.1600-SapForex24

This time it is the dollar weakening across the board. GBP/USD has also posted a high of 1.3292, USD/CHF has fallen to a low of 0.9955 while AUD/USD has pared gains for the day to now close in on session highs at 0.7477.

The dollar index is now at session lows down 0.2% on the day. Even the kiwi and loonie are paring back some losses against the dollar now.

There aren't any headlines crossing the wires to have brought about the change but selling as the dollar index touched above 95.00 again is one of the things that you can point to. Apart from that, there's the trade rhetoric still as reports say that the White House is to issue a second list of tariffs against China. That has also brought US equity futures lower on the day. S&P 500 futures are now trading 0.4% lower.

As for EUR/USD, as long as price sticks near the 1.1600 handle this could still be a level of interest as there are large expiries on the day here. So, let's see how things develop.

For More Market Information Click Here@

Thursday, 7 June 2018

Crude Oil Price Update – Trade Through $65.96 Will Make $64.22 New Main Bottom-SapForex24

Based on the early price action, the direction of the July WTI futures contract is likely to be determined by trader reaction to $64.92 and $64.77.

Crude oil futures are trading higher shortly after the regular session opening on concerns about a possible steep drop in exports from Venezuela. Offsetting some of this potential supply disruption is surging U.S. production, which hit another record last week, according to the U.S. Energy Information Administration.

Daily Swing Chart Technical Analysis

The main trend is down according to the daily swing chart. However, traders may be trying to shift momentum to the upside with the formation of the closing price reversal bottom on Tuesday.

The chart pattern was confirmed on Wednesday, but there hasn’t been a follow-through move yet. Crude oil is trading inside yesterday’s wide range which suggests investor indecision and impending volatility.

A trade through $64.22 will negate the chart pattern and signal a resumption of the downtrend. The minor trend changes to up on a trade through $68.67 and the main trend will change up on a move through $72.90.

The market is trying to establish support at a pair of 50% levels at $64.77 to $64.92. Resistance is a Fibonacci level at $66.00, followed by a series of rising 50% levels at $66.45, $67.32 and $68.56.

Daily Swing Chart Technical Forecast

Based on the early price action, the direction of the July WTI futures contract is likely to be determined by trader reaction to $64.92 and $64.77.

A sustained move over $64.92 will indicate the presence of buyers. If this generates enough upside momentum, we could see a move into $66.00, followed by $66.45. The latter is a trigger point for a possible acceleration to the upside with $67.32 the next likely upside target.

A sustained move under $64.77 will signal the presence of sellers. This could drive the market into the minor bottom at $64.22. Look for an acceleration to the downside under the bottom with $63.03 the next target.

For More Market Update Click Here@

Monday, 4 June 2018

Forex - Euro Gains as Markets Shrug off Trade Concerns-SapForex24

The euro pushed higher on Monday as markets shrugged off concerns over escalating trade tensions as signs of strength in the U.S. economy bolstered risk appetite.
EUR/USD was up 0.24% to 1.1687.

The dollar was a touch lower against the safe haven yen, with USD/JPY edging down to 109.46 from an overnight high of 109.77.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.18% to 93.99 after rising 0.22% on Friday.

The pound was little changed against the dollar, with GBP/USD last at 1.3351.

The risk sensitive Australian dollar was higher, with AUD/USD gaining 0.82% to trade at 0.7629, while the New Zealand dollar was also higher, with NZD/USD up 0.43% to 0.7012.

For more information Whatsapp@ +91-9981999934 or visit@