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The positive feelings for Greece that started in early North American trade today continued throughout the second half of trade as the euro gained ground and the USD was the biggest loser. If the insinuation made by an anonymous Greek government official that an agreement between Greece and her debtors
GOLD With GOLD selling off sharply on Wednesday, further bearishness is expected though presently seen hesitating. Support comes in at the 1,178.39.00 level where a break will aim at the 1,165.00 level. A cut through here will open the door for move lower towards the 1,150.00 level.
After the deeper pullback to the outer Bearish Channel I suspect we have seen the swing high. Now it is a case of entering at a favourable price to get short which will require a sizeable retracement within yesterday's candle. The session finished with a Dark Cloud cover reversal but
The Australian 200 index is once again enjoying solid support from the 5800 level which is allowing time and space to rally and return to near the 6000 level. It has throughout this week relied upon support from this level. Throughout last week the Australian 200 index showed some positive
To start this new week the Australian dollar fell sharply but landed on the previous key level at 0.77 which has offered considerable support since that time. A couple of days ago it surged higher to move back above 0.78 for a short period before easing back lower again with
Once again the downside failed. It tends to point to a large triangle but be aware that, as we have seen recently, these can produce the most excruciating complexities. While 1.0800-05 supports there's risk of follow-through to around 1.0850-60. From there we should see a correction hoiding between 1.0780-00
Pound, Dollar-Rupee, Dollar-Yen ,Aussie and Euro are up but have near term resistances coming up. Pound (1.5031) is trading within the 1.51-1.50 region. Need to keep an eye for a break above 1.51 which would initiate a fresh upmove. Important resistances are 1.5100 and then 1.5174 which may hold well for now.
EURUSD While the 1.0848/86 zone remains as resistance our outlook on EUR remains to the downside. Resistance is seen at 1.0800 level with a cut through here opening the door for more downside towards the 1.0848/86 levels. Further up, resistance lies at the 1.0950 level where a break will
The EURUSD had a bullish momentum yesterday after another failure to break below 1.0670 support area topped at 1.0844. The bias is bullish in nearest term especially if price able to make a clear break above 1.0850 testing 1.0900 – 1.0950 region. Immediate support is seen around 1.0750.
THE EURO closed higher on Thursday as it extends the trading range of the past fivedays. The lowrange close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible
Euro area PMIs declined in April after having trended higher since end-2014. The manufacturing PMI declined to 51.9 from 52.2 in March (consensus 52.6) and the services PMI declined to 53.7 from 54.2 in March (consensus 54.5).
The release of retail sales in March was the last important set of data ahead of the first estimate for GDP growth in Q1 due out next week. Retail sales declined by 0.5% m/m in March. Excluding auto fuel, they rose by 0.2% m/m.
It's been a tough morning for European markets on Thursday and this is likely to carry into the US session as weaker PMI readings from China and the eurozone and disappointing UK retail sales weigh on investor sentiment. Markets were initially happy to shake off the decline in the HSBC
European stocks are sharply lower this morning as investors react to fresh signs of a slowdown in the global economic recovery. In recent weeks, data from the world's largest economies – the US and China, in particular – have generally been disappointing.
Notwithstanding the lack of fundamental data on show this week, the EUR bear has been trying valiantly to build up a head of steam ahead of tomorrow's important Eurogroup meeting in Riga, Latvia. With the market not yet privy to any new hard developments on the Greek creditor fiasco, the
US initial claims rose by 1,000 to 295,000 the week ending April 18, 2015, thereby marking a third consecutive weekly increase and building on a 12,000 rise to 294,000 in the previous week. Market expectations had been for a 287,000 reading in the latest week.
Sales of new single-family homes in the US dropped by 11.4% to 481,000 annualized units in March, thereby falling well short of market expectations for a modest decline to 515,000. The decline in March fully retraced gains in the previous two months, which saw sales rise to 514,000 in January
The market was obviously confused as to whether the headline number or the future prospects was the important factor, and there were sure to be a few daytraders who either profited a LOT of money as well as a few who would have been equally CRUNCHED by the move.
Asian indices are mixed despite another resounding rally on Wall St that saw the Nasdaq test 15 year highs last seen at the crest of the dot-com bubble. China markets are particularly volatile, with Shanghai Composite initially falling over 1.5% at -the open on earlier rumors that the govt is
It has been a very important and game changing week for AUDNZD, with the pair rocketing higher after failing in another run towards parity (we suggested as much may happen here). The pair’s change of fortune has been underpinned by a fundamental change in the behaviour of yield seekers in
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