USDCHF: Continues To Maintain Downside Pressure

USDCHF: The pair closed lower the past week opening the door for more weakness. On the downside, support lies at the 1.0000 level. A turn below here will open the door for more weakness towards the 0.9950 level and then the 0.9900 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 1.0050 level where a break will clear the way for more strength to occur towards the 1.0100 level. Further out, resistance comes in at the 1.0150 level. All in all, USDCHF remains biased to the downside on further weakness.

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USDCHF: Continues To Maintain Downside Pressure

USDCHF: The pair closed lower the past week opening the door for more weakness. On the downside, support lies at the 1.0000 level. A turn below here will open the door for more weakness towards the 0.9950 level and then the 0.9900 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 1.0050 level where a break will clear the way for more strength to occur towards the 1.0100 level. Further out, resistance comes in at the 1.0150 level. All in all, USDCHF remains biased to the downside on further weakness.

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Lessons I Learned From Building The New W12 Quad Turbo v3

Dear investors and readers, it’s Besso writing. Thank you for your attention in advance and today I’ll tell you about the lessons I learned from creating the new version 3.0 of this expert. Hope it will also be useful for you. 

Why I did this update?

First thing first: I tried to do “realistic” every tick MetaQuotes data (and Tick Story software) backtests in the beginning in default MT4 environment and thought 20-30 point spread would be enough for most pairs and unfortunately it turns out I was wrong in a BIG WAY!

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Forex Forecast for EURUSD, GBPUSD, USDJPY, and USDCHF for 09 -13 January 2017

First, a review of last week’s forecast:

 – The main forecast for the EUR/USD pair had said that early in the week the pair could rise to 1.0685 or even higher to the 1.0700-1.0800 area. This is what happened in reality. By just Tuesday, the pair reached the 1.0720 level, before returning 130 points downwards and jumping back up again, finishing the week near the 1.0700 mark; 

 – GBP/USD. Regarding the behaviour of this pair, 50% of the experts predicted its movement to the north and graphical analysis indicated a target in the area of ​​1.2400-1.2500. This turned out to be 100% correct. In the first half of the week, the pair did the seemingly impossible: inspired by the speeches of the Governor of the Bank of England M. Carney and the British Prime Minister T. May, as well as by optimistic indicators of the economy of this island state, the pair leapt upwards by 430 points and returned to the strong level support/resistance of the last four months in the 1.2385-1.2415

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موجز أهم الأخبار والأحداث العالمية في أسبوع

شهد هذا الأسبوع تولي “دونالد ترامب” مهامه الرئاسية بشكل رسمي، ليصبح الرئيس الخامس والأربعين للولايات المتحدة الأمريكية. فيما أظهرت البيانات ارتفاع الناتج المحلي الإجمالي الصيني بنسبة 6.7% خلال العام الماضي، كما كان متوقعاً. التاريخ الحدث ملاحظات الاثنين 12 يناير صندوق النقد يتوقع ارتفاع أسعار النفط بحوالي 20% خلال 2017 – يتوقع صندوق النقد الدولي ارتفاع متوسط […]

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“داو جونز” يغلق مرتفعاً بعد 5 جلسات من التراجع..لكنه يسجل خسائر أسبوعية

ارتفعت الأسهم الأمريكية خلال تداولات الجمعة مدعومة بقطاع الطاقة بالتزامن مع ارتفاع أسعار النفط، وأبقت على مكاسبها عقب خطاب تنصيب الرئيس “دونالد ترامب”، ولكن المؤشرات الرئيسية سجلت خسائر أسبوعية.   وارتفع مؤشر “داو جونز” الصناعي بنسبة 0.5% أو 95 نقطة إلى 19827 نقاط، كما صعد مؤشر “نازداك” (+ 15 نقطة) إلى 5555 نقطة، في حين […]

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Americas Roundup: Dollar falls As Investors Review Trump Inauguration Speech, Oil Prices Jump 2 Pct ahead of Producers’ Compliance

Market Roundup

•    Trump: Trade, tax, immigration & foreign affairs will be made to benefit Americans; US must protect against other countries taking US jobs; policy to be buy American/hire American.

•    Fed’s Harker: Fed should consider stopping balance sheet reinvestment after FF hits 1%, stricter trade policies seen as a risk to US economy growth.

•    Fed’s Williams: Monetary policy still boosting growth, need to hike rates before we get to goals so we don’t overshoot.

•    ECB’s Draghi: any country leaving euro zone must settle bill first.

•    EZ underlying inflation remains anemic: suggests ECB still far from scaling back accommodation- ECB survey.

•    Trump caution pushes EZ yields further away from 1-mo peaks; Caution in world markets supports Bunds.

•    ECB’s Coeure: EZ more resilient than 3-yrs ago, labor productivity growth sluggish, stimulus won’t last forever.

•    BOJ’s Kuroda: solid US growth may push up USD, upbeat on global outlook, overcoming deflation top policy priority.

Looking Ahead – Economic Data (GMT)

•    No Significant Data

Looking Ahead – Events, Other Releases (GMT)

•    No Significant Events

Currency Summaries

EUR/USD is likely to find support at 1.0606 levels and currently trading at 1.0693 levels. The pair has made session high at 1.0709 and hit lows at 1.0652 levels. The euro jumped against the U.S. dollar on Friday as dollar was weighted down after Donald Trump adopted a populist tone as he was sworn in as U.S. president, raising some concerns that fiscal stimulus efforts may be delayed. Trump pledged to pursue “America First” policies in an inaugural address that was a populist, anti-Washington rallying cry. The dollar index , which tracks the greenback against six major currencies, was little moved immediately following Trump's remarks, but trudged downward as investors unpacked the speech and saw news of the executive actions. The dollar index fell 0.3 percent. It has risen about 3 percent since Trump's Nov. 8 election victory, but has shed about 1.3 percent so far in January on growing concerns about Trump's protectionist rhetoric and recent comments about his dissatisfaction with the strong dollar. The euro last trading at $1.0694. It was on pace to gain 0.2 percent for the week, its fifth consecutive weekly rise.

GBP/USD is supported in the range of 1.2250 levels and currently trading at 1.2361 levels. It reached session high at 1.2380 and dropped to session low at 1.2291 levels. Sterling inched higher against US dollar on Friday as Donald Trump's inaugural speech as U.S. President reinforced worries for some investors about future trade policies. Dollar declined during the speech, and some strategists said the comments fueled investor concerns about potential protectionist trade policies under Trump, while others said the move in stocks was part of a trend to “buy the election and sell the inauguration. The Dollar rally since the election has stalled in recent weeks as investors waited for more clarity on his plans to boost the economy. Sterling had recovered from the early disappointment on Friday of the weakest UK retail sales figures in almost five years. Official national retail sales released on Friday saw the biggest fall since April 2012, dropping 1.9 percent month-on-month in December, which was far below economists forecasts of a 0.1 percent decline. The pound took two major beatings on Monday and Wednesday, but in between saw a 3 percent surge, its biggest leap since the 1990s.

USD/CAD is supported at 1.3292 levels and is trading at 1.3376 levels. It has made session high at 1.3376 and lows at 1.3304 levels. The Canadian dollar lost ground against its U.S. counterpart on Friday as Canadian dollar was pressured by weaker-than-expected domestic inflation and retail sales data just two days after the Bank of Canada left the door open to cutting interest rates. Canada's annual inflation rate rose to 1.5 percent in December from November's 1.2 percent, short of analysts' forecasts for an increase of 1.7 percent, data from Statistics Canada showed.Retail sales edged up 0.2 percent in November, which was shy of economists' expectations for an increase of 0.5 percent. On Wednesday, the Bank of Canada warned that a rate cut remained on the table, warning there would be “material consequences” if U.S. President-elect Donald Trump enacts protectionist policies. The Canadian dollar was trading at C$1.3351 to the greenback, or 74.90 U.S. cents, weaker than Thursday's close of C$1.3314, or 75.11 U.S. cents.

AUD/USD is supported around 0.7500 levels and currently trading at 0.7549 levels. It hit session high at 0.7556 and made session lows at 0.7526 levels. Australian dollar strengthened against US dollar on Friday as Australian dollar was supported by upbeat Chinese economic data and weaker dollar. Data from China showed the world's second-largest economy expanded 6.8 percent in the fourth quarter, compared with expectations of 6.7 percent, helped by higher government spending. China is Australia's No.1 trading partner while the Aussie is often seen as a liquid proxy for the yuan. The Australian dollar was last up 0.2 percent at $0.7554 after briefly climbing to $0.7589, a level not seen since Nov. 11.The Aussie is up about 1 percent this week and was on track to clock its fourth straight weekly gain. It is up 5.3 percent in January so far, making it one of the best performing major currencies in the world.

Equities Recap

European shares fell, posting their biggest weekly loss since before Donald Trump won the U.S presidential election in November, as investors grew cautious before his inauguration.

The UK's benchmark FTSE 100 closed down by 0.2 percent, FTSEurofirst 300 ended the day down by 0.02 percent, Germany's Dax ended up by0.2 percent, and France’s CAC finished the day up by 0.2 percent.

U.S. stocks closed higher on Friday in a modest but broad-based advance as Donald Trump was sworn in as U.S. President, marking the first time in more than 50 years that a new commander-in-chief has been welcomed by a rising equity market on his first day in office.

Dow Jones closed up by 0.47 percent, S&P 500 ended up 0.33 percent, Nasdaq finished the day up by 0.27 percent.

Treasuries Recap 

U.S. Treasury yields fell from two-and-a-half-week highs on Friday after Donald Trump adopted a populist tone as he was sworn in as U.S. president, raising some concerns that fiscal stimulus efforts may be delayed.

Benchmark 10-year notes  fell 3/32 in price to yield 2.47 percent, after earlier rising to 2.51 percent, the highest since Jan. 3. The yields have jumped from a low of 2.31 percent on Tuesday.

Commodities Recap

Oil prices rose more than 2 percent on Friday on expectations that this weekend's meeting of the world's top oil producers would demonstrate compliance to a global output cut deal, but rising U.S. drilling activity limited gains.

Brent crude ended the session up $1.33, or 2.5 percent, at $55.49 a barrel. U.S. crude for February delivery closed up by $1.05, or 2 percent, at $52.42 a barrel before expiring. The more active March contract settled up 2.1 percent at $53.22.

Gold prices turned up on Friday, as the dollar fell and U.S. Treasury yields came off their highs after Donald Trump was sworn in as U.S. president.
​
Spot gold was up 0.5 percent at $1,211.30 an ounce by 3:04 p.m. EST (2004 GMT), while U.S. gold futures settled up 0.3 percent at $1,204.90 per ounce.
 

The material has been provided by InstaForex Company – www.instaforex.com

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عضو بالفيدرالي: ربما يقلص البنك المركزي حيازته من السندات هذا العام

قال رئيس الاحتياطي الفيدرالي بمدينة “فيلادلفيا” “باتريك هاركر” إن البنك المركزي ربما يبدأ خفض حيازته الهائلة من السندات في العام الجاري. ويمتلك الفيدرالي في حيازته سندات وأوراقا مالية معدمة برهن عقاري بقيمة 4.5 تريليون دولار منذ الأزمة المالية العالمية، في خطوة تستهدف الإبقاء على الفائدة منخفضة على المدى الطويل ودعم الاقتصاد. وأوضح “هاركر” أن الفيدرالي […]

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