Look forward to the results of the ECB, Euro Near 1.3050. FOREX FUNDAMENTAL ANALYSIS TODAY
- USDCHF: Bearish Signal Observed Lightweight, Watch range 0.9234 - 0.9074
- USD / CHF: Trend Down, Current range at 0.9232 - 0.9252
- EUR / USD: Bullish Trend Current, Resistance range at 1.3062 - 1.3091
- USDCHF: Movement Still Samar, Watch range 0.9200 - 0.9272
- 1.3000 and MA200 Support Important Euro
The euro is still in choppy movement with a negative bias as traders await the results of the ECB meeting and press conference in the European session. "For a while, the hourly chart shows price still stuck below the 20 SMA and the 23.6% retracement for the latest daily fall, both near 1.3070 and the resistance level is nearby, while some indicators are still in the neutral zone," explained Valeria Bednarik. Bednarik was again continued: "Although lack support for continuing fall in the near future, as long as the price remained below 1.3110, rettacement 38.2% for the same rally". Currently, the euro held near daily range at 1.3050, 10 pips near yesterday's close. Currently Euro stands at 1.3048, with bearish signals are monitored daily movements will still haunt the single currency.
KOSPI Opens Stronger Thin; Rally KEPCO
South Korean shares opened slightly higher Thursday, following the strengthening of the U.S. stock market while strengthening vigilance will still be limited by market-related earnings reporting season. Shares of Korea Electric Power Corp. (KEPCO) moved up more than 3% after the government there said it would raise electricity rates by 4% on average, starting next week to help the company cover the loss. Korea composite stock price index (KOSPI) rose 0.24% to 1,996.54.
Nikkei Gains At Sector Exporters Positive
Japan's Nikkei stock index drove back Thursday as weaker yen carry sector exporters rose as the weakening yen, which has rallied in the past two months related to expectations that the central bank will ease monetary policy on a large scale. Nikkei moved up 0.7% to 10,652.84 in the trade that took place, bringing the index to the overbought area. RSI index survive at 75.8, above the area 70 where the index is in overbought area and often indicates that the market may experience a correction in the short term. Shares of exporters, which has been hit by a strong yen and competition from South Korean companies, which is taken by the depreciation of the Yen in 2 months.
Ahead of ECB Meeting, gold corrected
Gold prices moved down on Thursday, pressured by technical resistance level of significance, as investors await interest rate decisions by the European Central Bank rate decision relevant today. Spot gold moved down by 0.1% to $ 1,655.50 an ounce, below the level of resistance in the number MA-200 Days in the $ 1,661.05.
U.S. gold futures barely any movement in the $ 1,655.40.
Investors are watching the meeting of the European Central Bank today. The central bank is expected to hold interest rates, but economists still have a chance differences will cut interest rates in recent months as the poor economic outlook.
Aussie hampered Negative Economic Data
Ahead of China data due to be released tomorrow (11/01), the Australian currency exchange rate movements have remained in the range of 1.0500 in early trade Asian markets. Aussie could penetrate 1.0530 level yesterday evening. Building approvals data released this morning, rising only 2.9% for the month of November compared with analysts' expectations increase of 4.0%. Data are not capable of appreciating Aussie. Valeria Bednarik, chief analyst at FXstreet.com, noting though the exchange rate moves one hour indicator is neutral in the currency is likely to continue the bullish pressure. Target strengthening Aussie at 1.0525 with support at the 1.0490 level. Bearish signal can be used as an opportunity to make a purchase.
KOSPI Opens Stronger Thin; Rally KEPCO
South Korean shares opened slightly higher Thursday, following the strengthening of the U.S. stock market while strengthening vigilance will still be limited by market-related earnings reporting season. Shares of Korea Electric Power Corp. (KEPCO) moved up more than 3% after the government there said it would raise electricity rates by 4% on average, starting next week to help the company cover the loss. Korea composite stock price index (KOSPI) rose 0.24% to 1,996.54.
Nikkei Gains At Sector Exporters Positive
Japan's Nikkei stock index drove back Thursday as weaker yen carry sector exporters rose as the weakening yen, which has rallied in the past two months related to expectations that the central bank will ease monetary policy on a large scale. Nikkei moved up 0.7% to 10,652.84 in the trade that took place, bringing the index to the overbought area. RSI index survive at 75.8, above the area 70 where the index is in overbought area and often indicates that the market may experience a correction in the short term. Shares of exporters, which has been hit by a strong yen and competition from South Korean companies, which is taken by the depreciation of the Yen in 2 months.
Ahead of ECB Meeting, gold corrected
Gold prices moved down on Thursday, pressured by technical resistance level of significance, as investors await interest rate decisions by the European Central Bank rate decision relevant today. Spot gold moved down by 0.1% to $ 1,655.50 an ounce, below the level of resistance in the number MA-200 Days in the $ 1,661.05.
U.S. gold futures barely any movement in the $ 1,655.40.
Investors are watching the meeting of the European Central Bank today. The central bank is expected to hold interest rates, but economists still have a chance differences will cut interest rates in recent months as the poor economic outlook.
Aussie hampered Negative Economic Data
Ahead of China data due to be released tomorrow (11/01), the Australian currency exchange rate movements have remained in the range of 1.0500 in early trade Asian markets. Aussie could penetrate 1.0530 level yesterday evening. Building approvals data released this morning, rising only 2.9% for the month of November compared with analysts' expectations increase of 4.0%. Data are not capable of appreciating Aussie. Valeria Bednarik, chief analyst at FXstreet.com, noting though the exchange rate moves one hour indicator is neutral in the currency is likely to continue the bullish pressure. Target strengthening Aussie at 1.0525 with support at the 1.0490 level. Bearish signal can be used as an opportunity to make a purchase.
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