Author: Greg Michalowski

Forexlive America FX news wrap: Dollar mixed (except against the NZD)

Forex news for trader on May 22, 2017 -    In other markets: - Spot gold is hired by five dollars  or 0.41% to $1261.01. - WTI crude oil futures settle the June contract at $50.73, up $.40  or 0.79% It was  a quiet North American session today.  Was it the Canada holiday, little in the way of economic data, Trump out of the country, or just a Monday?  Probably a combination of all.  

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Author: Eamonn Sheridan
4

Trade ideas thread for Tuesday 23 May 2017

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:        

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Author: Eamonn Sheridan
1

Economic calendar in Asia today ... we get a bonus Fed speaker (actually 2)!

OK, here's what's coming up: 2330GMT - Australia - the weekly consumer confidence data from ANZ /  Roy Morgan - prior week 109.4 - This has been on the slide, below its longer term average 2330GMT - Federal Reserve Governor Brainard speaks. I'll keep an eye out for anything market-related

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Author: Greg Michalowski

US stocks end the session with decent gains

Nasdaq leads the charge higher. The US stocks are ending the session with decent gains. Solid day and closing near the highs too.

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Author: Greg Michalowski
1

Forex technical analysis: GBPUSD moves back below 1.300

1.2988-90 eyed The GBPUSD has moved back below the 1.3000 level in the last few minutes of trading. There is additional support at the 1.2988-90 which was the high ceiling area (see Red Box in the chart below). Today, the price moved below this area on two separate occasions.  Another move below will not be all that bullish technically. 

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Author: Greg Michalowski

US crude oil settles at $50.73, up $0.40 or 0.79%

June contract goes off the board The US crude oil futures are settling at $50.73, up $0.40 or 0.79%.  Today is the last day for trading in that contract. 

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Author: Greg Michalowski
6

Gold up modestly but trades near high levels

Up about 0.43% on the day. Gold is up modestly in trading today.   The price is up about $6 or 0.45% on the day.  It is trading near the high for the day at $1262.76 (currently trading at $1261.43).   

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Author: Greg Michalowski
2

Trump and Netanyahu live stream

Here is the link... Netanyahu: Trump: The S&P is trading near high levels for the day at 2393.34. The Nasdaq is up 41 points at 6124.46. The high reached 6128.516

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Author: Greg Michalowski
3

Forex technical analysis. GBPNZD is the biggest mover today

NZD remains the strongest currency... As London traders hit the pubs or head home on the trains, the NZD remains the strongest currency.  While the GBP is the weakest. That makes the GBPNZD the biggest mover and indeed, it has moved 1.13% from the Friday close. 

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Author: Adam Button
7

NZD/USD nears 0.7000 in technical break

NZD/USD is easily the top performer today Have a look at the kiwi chart today. It's run stops after breaking last week's high of 0.6950 and the May high of 0.6969.

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Author: Adam Button

Consensus closer: Iraq on board for 9-month cut extension

Saudi's Al-Falih and Iraq's oil minister - Iraq PM gave oil minister permission for 9 month extension - Al-Flaih: All those I spoke with expressed support for 9-month cut Sounds like it's a done deal.

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Author: Adam Button
7

Fed's Kaplan more cautious than portrayed; oil comments also telling

Kaplan publishes essay - While I believe that these recent readings on inflation are likely not indicative of a weakening trend, I intend to be patient and open minded in assessing upcoming data releases in this regard. The newswire headlines on Kaplan's speech are hawkish but the actual text shows that he's worried about low inflation and not as confident as he was before.

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Author: Greg Michalowski
1

Forex technical analysis: USDCAD trades under 50% retracement level

Oil higher but in middle of the range The USDCAD is trading below it's 50% of the move up from the April 12 low. That comes in at 1.35076.  The last 5 hourly bars has closed below that MA level.  It is a close risk level intraday for traders.   Traders who are short want to see the price stay below that level. We are currently trading near it. If it starts to trade and close back above shorts may look to buyback shorts. 

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Author: Adam Button

Most European stocks take a breather; Italy falls

Closing changes for the main bourses - UK FTSE +0.3% - French CAC - flat - German DAX -0.1% - Spain ibex -0.3% - Italy MIB -1.15% Italian stocks have bounced around in the past week.

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Author: Adam Button
3

Don't buy CHF here - Credit Agricole

The Swiss franc was the top performer last week Credit Agricole CIB FX Strategy notes that CHF upside has been limited, irrespective of weakening risk sentiment.

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Author: Greg Michalowski
1

Forex technical analysis: AUDUSDs bullish overtones...

First break above 200 bar MA on 4-hour chart since April 17th The pair is trading at the highest level since May 3rd. The next target is being approached at the 0.7490-92 area.  That level corresponds a series of swing lows and highs going back to April 19th (see red circles in the chart above).  A move below the 200 bar MA on the 4-hour chart would be concerning - at least intraday, but it is not the end of the world for the bulls (it muddies the bullish waters a bit though).  A move back below the 0.7468 level (61.8% and trend line) would increase the bearish bias, however.  The high today reached 0.7485.

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Author: Adam Button
3

Watch the Fed's Kashkari live

Kashkari to deliver the welcoming address at the Opportunity and Inclusive Growth Institute conference

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Author: Adam Button

Read Harker's speech on the Healing Power of Hope

Harker delivered a commencement speech in Philadelphia for a class of pharmacists Nothing on the outlook or monetary policy: - What strikes me is that the areas of the country that are struck low by the intersection of poor health and dim economic prospects, the areas that are most affected by these crises, are caught in a spiral of hopelessness. Feel free to cop the speech if you're planning a speech to healthcare grads. If not, move on.

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Author: Greg Michalowski
1

Forex technical analysis: GBPUSD more bullish, but...

....Lower highs over the last few days The GBPUSD: The not so bullish (concerning) is that since the break above the 1.1288-90 on Thursday: Nevertheless, despite the concerns, I still give the nod to the bulls.  Stay above 1.2988-90 would be the close support (risk) for longs now. Stay above the 100 hour MA is a lower risk level for longs.  On the topside, if the price can get and stay above the prior highs, the dips will not look "bearish" but simple "corrective".  

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