Daily Technical Analysis by XtreamForex

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Germany to confirm size of expected budget surplus on Nov 9
Germany’s acting Finance Minister Peter Altmaier told broadcaster ARD on Sunday, Germany expects a budget surplus in 2017, but will not know its full extent until Nov. 9 when the finance ministry gets a new assessment of expected tax revenues, Reuters reports.
We will get a new tax revenue assessment on Nov. 9. Only then will we know exactly what the government’s future revenues will be.”

ReadMore:https://www.xtreamacademy.com/2017/...irm-size-of-expected-budget-surplus-on-nov-9/

 

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2017: A CHANGING ENVIRONMENT FOR CENTRAL BANKS – RABOBANK

2017 may have been extraordinary in terms of the political influences on G10 FX markets, but central banks have stolen a fair share of market attention, according to Jane Foley, Senior FX Strategist at Rabobank.

Key Quotes

“In total the Fed hiked rates 3 times in 2017 bringing the total to 5 policy moves since the end of 2015. Other central banks in the G10 have been warming up this year in preparation of a period of less policy accommodation. The pace of moves, or in some cases perhaps a lack of policy action, will be a dominating theme for G10 FX markets into 2018 and beyond.

Read more : http://www.xtreamacademy.com/forex-news/2017-changing-environment-central-banks-rabobank/


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FOREX TODAY: AUSSIE – A BIG MOVER IN ASIA, A LIGHT CALENDAR AHEAD

An eventless Asian session kicked-off yet another holiday-thinned week, as slowing volumes and irregular volatility persisted heading into the New Year break. There were no major macro news reported, excepted for the Chinese industrial profits and China’s Beige Book Survey, which had little impact on the fx space.

The Aussie emerged the top performer, gaining the most amid a broadly subdued USD and the recent strength in commodities’ prices. The Kiwi also followed suit while the Yen traded on the back foot, as yesterday’s comments from BOJ Kuroda offset a string of upbeat Japanese economic data.

Among other related markets, the Asian stocks traded mostly mixed, while gold prices hold near 3-week tops of $ 1288.40. WTI eased-off multi-year tops to trade below the $ 60 mark.

Main topics in Asia

BoJ’s Kuroda: Will patiently maintain powerful monetary easing

Reuters came out with the latest comments from the BoJ Governor Kuroda, delivered yesterday at the Keindanren (Japan Business Federation) in Tokyo.

Gold reaches 3-week high amid thin trading

Gold has built on recent gains, currently trading at $1,***.00, following a resurgence in demand amid thin liquidity conditions.

China’s November industrial profit growth slowest since April


Read more : http://www.xtreamacademy.com/forex-news/forex-today-aussie-big-mover-asia-light-calendar-ahead/

 

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EUR/USD SUPPORTED AT 1.2000 AHEAD OF EZ PMIS

DXY in doldrums
2017 highs of 1.2092 still in sight.
Manufacturing PMIs to dominate.
The EUR/USD pair extends its upside consolidative mode into Asia, now looking to retest three-month tops of 1.2030 levels ahead of the Euro area final manufacturing PMI releases.

EUR/USD: Bullish bias intact

Stepping into the New Year, the EUR/USD pair keeps its recent bullish momentum intact, as the US dollar remains broadly undermined on weaker Treasury yields, in the wake of expectations of the monetary policy convergence. Markets believe that the Fed could under-deliver on its rate hike expectations while the ECB could turn hawkish amid improving Eurozone economic prospects.

Valeria Bednarik, Chief Analyst at wrote, “The EUR/USD pair is not far from its 2017 multi-year high of 1.2092, and from a technical point of view, seems poised to extend its gains, despite these levels are highly uncomfortable for the ECB that fears a stronger currency will delay the progress towards their inflation target.”

Read more : http://www.xtreamacademy.com/forex-news/eur-usd-supported-1-2000-ahead-ez-pmis/

 

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GBP/USD eyes Sept 2017 highs ahead of UK construction PMI

Strongest since mid-Sept 2017.
Further bullishness ahead.
The UK construction PMI – Up next.
The bulls weakened their grip in mid-Asia, allowing a brief phase of consolidation in the GBP/USD pair near four-month tops of 1.3605, as investors gear up for the UK construction PMI release.

GBP/USD: USD still remains the key driver

Amid risk-on trades seen in the Asian equities and positive oil prices, the spot remains better bid, largely unperturbed by a tepid broad-based US dollar recovery. Markets switch their positions and prefer to hold the US currency heading into the key FOMC Dec meeting minutes.

Meanwhile, the pair appears to gather pace for a test of September 2017 highs reached at 1.3657, having surpassed the Dec tops of 1.3552 in the US last session. The recent upsurge in Cable was mainly driven by broad USD weakness while a lack of Brexit headlines (mostly seen as bad) also added to the upside risks in the pound.

Read more : http://www.xtreamacademy.com/forex-news/gbp-usd-eyes-sept-2017-highs-ahead-uk-construction-pmi/

 

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USD/JPY AIMS TO RETEST 113.0 AFTER FOMC MINUTES

Encouraging data out of the US, FOMC minutes lifts USD/JPY
USD/JPY technicals still suggests limited buying interest
USD/JPY has reached new session highs at the open of business in Tokyo, testing offers at 112.70 after the FOMC minutes/upbeat US data-induced rebound from Wednesday.

USD/JPY fueled by upbeat US data, FOMC minutes

As Valeria Bednarik, Chief Analyst at notes: “The USD/JPY pair advanced up to 112.57 this Thursday, as stronger-than-expected US data lifted the greenback against its Japanese rival, later fueled by the release of FOMC Minutes. Not that the document surprised investors, but after the release, US Treasury yields recovered the ground lost earlier on the day, helping the pair to extend its daily gains. ”

Read more : http://www.xtreamacademy.com/forex-news/usd-jpy-aims-retest-113-0-fomc-minutes/

 

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Bitcoin and ethereum price forecast – btc continues strongly, eth rockets through $10

BITCOIN AND ETHEREUM PRICE FORECAST – BTC CONTINUES STRONGLY, ETH ROCKETS THROUGH $1000

The BTC prices have slowed down considerably over the last month or so as the focus shifts to the ETH market
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The controlled nature of the moves in the bitcoin market are there for everyone to see. Ever since the introduction of the bitcoin futures around a month back, we have seen a large scale correction followed by some consolidation and now we are see some controlled uptrend, all signs of a mature market that is seeing the entry and playing of some large traders and investors. Ever since the futures were introduced, we had said that this was a seismic event in the growth of bitcoins and that it could change the way bitcoins are traded, forever. While it gave some additional credentials to the bitcoin industry, it also helped to draw in bigger players who would ensure that the market is kept under control.

Suggested Articles

Why Bitcoin Cash is Better than Bitcoin?
How to Buy Bitcoin Cash?
How to Short Bitcoin?

Read more : http://www.xtreamacademy.com/forex-...cast-btc-continues-strongly-eth-rockets-1000/

 

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Gbp/usd daily fundamental forecast – january 9, 2018

GBP/USD DAILY FUNDAMENTAL FORECAST – JANUARY 9, 2018

The pound continues to trade between the 1.35 and 1.36 region and unless and until there is a breakout on either side, it is better for the traders to stay out
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The pair has been trading within a tight range over the last 24 hours as a period of consolidation has set in in the markets.The dollar has been holding steady and with yesterday being the first trading day of the week, there was more of trade positioning and watching of the price action by the traders and this limited the action in the markets.

Read more : http://www.xtreamacademy.com/forex-forecast/gbp-usd-daily-fundamental-forecast-january-9-2018/

 

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Eth/usd price forecast january 10, 2018, technical analysis

ETH/USD PRICE FORECAST JANUARY 10, 2018, TECHNICAL ANALYSIS

Briefly, Ethereum had fallen to number 3 in the crypto currency world based upon value. However, we have seen the market take over the number 2 level again, as the resiliency continues to prove itself. The market now seems to be knocking on the door of the $1250 level, which being broken to the upside should send this market much higher. At that point, I would anticipate a move to the $1300 level initially, and then longer-term I would look for the $1500 level. In the meantime, I think short-term pullbacks are buying opportunities as we build up the momentum necessary to break out. I think that the $1000 level underneath is probably the “floor” in the market, so therefore it’s not until we break down below that level that I would be concerned with Ethereum overall.

Read more : http://www.xtreamacademy.com/forex-...-forecast-january-10-2018-technical-analysis/

 

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AUD/JPY ENDED A THREE-DAY LOSING STREAK, DEFENDS 23.6% FIB

AUD/JPY found takers around 23.6% Fib.
Eyes China data.
AUD/JPY defended the 87.28 (23.6% Fib R of Nov-Jan rally) yesterday and jumped to a high of 88.09 before closing the day on a positive note at 87.79.

Having snapped the three-day losing streak yesterday, the pair is trading in a sideways manner around 87.80 levels.

Focus on China data

A better-than-expected China trade data may put a bid under the AUD/JPY cross. A more sustained rise above 88.00 could be seen if the details reveal a solid pick up in the imports of commodities like iron ore and copper (top Australian export).

Read more : http://www.xtreamacademy.com/forex-news/aud-jpy-ended-three-day-losing-streak-defends-23-6-fib/