Price Movement Prediction For EUR / USD

Of readings technical analysis using the Stochastic Oscillator indicator, the current price for the pair EUR / USD has reached the overbought limit. If viewed from the Daily TF, possibility of price increases will not be too high, resistance is now at 1.3304 would not penetrated too far. given the stochastic oscillator 9-2-3 and 12-3-12 stochastic oscillator has been in overbought level and prepares to cross. Now is a good time to open a position SELL EUR / USD oversold targets at the level of 1.2800. To maximize profit open positions SELL EUR / USD at the end of the trading session Friday, waiting overbought signal in H1 TF.

Have a technical analysis that I lay out for you this time, but keep in mind I am not responsible for any losses incurred by using this method. losses incurred because this information is your own responsibility.

Crude edges lower on global growth concerns, U.S. data support

U.S. crude oil prices moved lower on Friday amid lingering concerns that the Chinese and U.S. economies continue to battle headwinds, though better-than-expected consumer sentiment in the U.S. data curbed losses.

On the New York Mercantile Exchange, light sweet crude futures for delivery in September traded at USD104.50 a barrel during U.S. morning trade, down 0.97%.

The September contract settled up 0.09%, at USD105.49 a barrel on Thursday.

Earlier this week, a preliminary reading of China’s HSBC manufacturing PMI fell to 47.7 in July from a final reading of 48.2 last month. Analysts had expected the index to rise to 48.6. A reading below 50 indicates a contraction, which continued to dampen spirits on Friday, as China is the world's second-largest consumer of oil.

Meanwhile in the U.S., the Labor Department said Thursday that the number of individuals filing for initial jobless benefits last week increased by 7,000 to 343,000 compared with expectations for a gain of 4,000 to 340,000, which dampened spirits somewhat though more upbeat consumer sentiment data provided some support.

The Thomson Reuters/University of Michigan consumer sentiment rose more than expected in July, hitting 85.1 from 83.9 in June.

Analysts had expected the index to rise to 84.0 this month.

The report also said that inflation expectations fell to 3.1% this month, from 3.3% in June.

The U.S. is the world's largest consumer of crude.

On the ICE Futures Exchange, Brent oil futures for September delivery were down 0.56% at USD107.05 a barrel, up USD2.55 from its U.S. counterpart.

Natural gas prices drop as weather forecasts call for mild temperatures

Natural gas prices dropped on Friday after updated weather forecasts continued to call for milder temperatures across much of the U.S.

Milder temperatures send prices falling on sentiments that demand for the commodity will decrease at the country's thermal power plants as fewer businesses and households crank up their air conditioning.

On the New York Mercantile Exchange, natural gas futures for delivery in September traded at USD3.601 per million British thermal units during U.S. morning trade, down 1.28%.

The September contract settled down 1.51%, at USD3.647 per million British thermal units on Thursday.

Weather forecasting services called for normal to even cooler-than-normal temperatures across much of central and eastern swaths of the country, which sent prices falling.

MDA Weather Services called for milder mercury readings through early August, which fueled a selloff on Friday.

Meanwhile, markets continued to digest Thursday's supply data, though most investors tracked weather forecasts on sentiments that a recent heat wave had already been priced into trading.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ended July 19 rose by 41 billion cubic feet, below market expectations for an increase of 46 billion cubic feet.

Total stocks now stand at 2.786 trillion cubic feet, down 399 billion cubic feet from last year at this time and 46 billion cubic feet below the five-year average the report said.

The report showed that in the East Region, stocks were 120 billion cubic feet below the five-year average, following net injections of 25 billion cubic feet.

Stocks in the Producing Region were 45 billion cubic feet above the five-year average of 980 billion cubic feet after a net injection of 12 billion cubic feet.

Elsewhere on the NYMEX, light sweet crude oil futures for delivery in September were down 0.96% and trading at USD104.48 a barrel, while heating oil futures for August delivery were down 0.76% at USD3.0120 per gallon.

Dollar steady to lower after positive U.S. data

The U.S. dollar was steady to lower against the other major currencies on Friday, after the release of positive U.S. data, as investors remained cautious amid ongoing uncertainty over the future of the Federal Reserve's stimulus program.

During U.S. morning trade, the dollar was steady against the euro, with EUR/USD dipping 0.03% to 1.3272.

In a report, the University of Michigan said its index of consumer sentiment rose more-than-expected in July, ticking up to 85.1 from a reading of 83.9 the previous month.

Analysts had expected the index to rise to 84.0 this month.

The report also said that inflation expectations fell to 3.1% this month, from 3.3% in June.

The data came as investors were speculating over whether the Fed will begin to scale back its asset purchase program before the end of the year.

The greenback was almost unchanged against the pound, with GBP/USD dipping 0.02% to 1.5387.

Elsewhere, the greenback was lower against the yen and the Swiss franc, with USD/JPY tumbling 1.14% to trade at 98.16, and with USD/CHF slipping 0.16% to 0.9285.

In Japan, official data earlier showed that core consumer price inflation in Tokyo, which excludes fresh food, rose to an annualized rate of 0.4% in July, from a flat reading the previous month. Analysts had expected core consumer price inflation to rise to 0.3% this month.

The greenback was steady to lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD easing up 0.02% to 1.0282, AUD/USD adding 0.16% to 0.9262 and NZD/USD inching up 0.01% to 0.8082.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.07% to 81.76.

Forex - GBP/USD rangebound after strong UoM report

The pound was rangebound against the U.S. dollar in subdued trade on Friday, after the release of strong U.S. consumer sentiment, as uncertainty over the future of the Federal Reserve's stimulus program continued to weigh on market sentiment.

GBP/USD hit 1.5417 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.5392, inching 0.02% higher.

Cable was likely to find support at 1.5290, the low of July 24 and resistance at 1.45478, the high of June 25.

In a report, the University of Michigan said its index of consumer sentiment rose more-than-expected in July, ticking up to 85.1 from a reading of 83.9 the previous month.

Analysts had expected the index to rise to 84.0 this month.

The report also said that inflation expectations fell to 3.1% this month, from 3.3% in June.

The data came as investors were speculating over whether the Fed will begin to scale back its asset purchase program before the end of the year.

Sterling was fractionally higher against the euro with EUR/GBP edging down 0.07%, to hit 0.8626.

Forex - EUR/USD little changed after strong U.S. data

The euro was little changed against the U.S. dollar in light trade on Friday, after positive U.S. consumer sentiment data sparked optimism over a strong economic recovery, although uncertainty over the future of the Federal Reserve's stimulus program persisted.

EUR/USD hit 1.3296 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.3268, easing up 0.02%.

The pair was likely to find support at 1.3177, the low of July 24 and resistance at 1.3318, the high of June 11.

In a report, the University of Michigan said its index of consumer sentiment rose more-than-expected in July, ticking up to 85.1 from a reading of 83.9 the previous month.

Analysts had expected the index to rise to 84.0 this month.

The report also said that inflation expectations fell to 3.1% this month, from 3.3% in June.

The data came as investors were speculating over whether the Fed will begin to scale back its asset purchase program before the end of the year.

The euro was fractionally lower against the pound with EUR/GBP dipping 0.07%, to hit 0.8625.

U.S. UoM consumer sentiment rises more-than-expected

U.S. UoM consumer sentiment rose more-than-expected last month, data showed on Thursday.

In a report, the University of Michigan said that consumer sentiment rose to a seasonally adjusted 85.1, from 83.9 in the preceding month.

Analysts had expected UoM consumer sentiment to rise to 84.0 last month.

U.S. stocks open lower ahead of data; Dow Jones down 0.45%

U.S. stocks opened lower on Friday, as markets were jittery ahead of U.S. consumer sentiment data expected later in the trading session, amid ongoing uncertainty over the future of the Federal Reserve's stimulus program.

During early U.S. trade, the Dow Jones Industrial Average retreated 0.45%, the S&P 500 index dropped 0.42%, while the Nasdaq Composite index shed 0.27%.

The release of mixed U.S. data on initial jobless claims and durable goods orders on Thursday fuelled fresh uncertainty over whether the Fed will start to scale back its bond buying program later this year.

The Labor Department said the number of individuals filing for initial jobless benefits last week increased by 7,000 to a seasonally adjusted 343,000, compared to expectations for an increase of 6,000 to 340,000.

The Commerce Department said orders for long lasting manufactured goods rose by a seasonally adjusted 4.2% in June, compared to expectations for an increase of 1.3%, while vore durable goods orders, which exclude volatile transportation items, were flat in June, compared to expectations for a 0.5% increase.

In the tech sector, Apple dropped 0.61%, following reports the company's share of the global smartphone market fell to its lowest in three years in the second quarter as more consumers chose inexpensive handsets from Chinese makers over the iPhone.

In earnings news, Amazon plummeted 2.50% after the Internet retail giant reported an unexpected loss and issued a cautious current-quarter forecast.

Adding to losses, Zynga sank 17.15% after the social video game maker handed in current-quarter guidance that widely missed market estimates.

On the upside, Starbucks surged 6.39% after topping earnings expectations. The coffeehouse chain also boosted its full-year guidance as its new menu offerings helped drive customer traffic.

Other stocks likely to be in focus included Tyco, scheduled to post results later in the day.

Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 added 0.10%, France’s CAC 40 rose 0.37%, Germany's DAX retreated 0.68%, while Britain's FTSE 100 slid 0.35%.

During the Asian trading session, Hong Kong's Hang Seng Index rose 0.31%, while Japan’s Nikkei 225 Index plunged 2.97%.

Later in the day, the U.S. was to produce revised data on consumer sentiment from the University of Michigan.

Forex - USD/CAD almost unchanged, eyes on U.S. data

The U.S. dollar was almost unchanged against its Canadian counterpart on Friday, as markets were jittery ahead of the release of U.S. consumer sentiment data later in the day, after Thursday's reports painted a mixed picture of the strength of the economic recovery.

USD/CAD hit 1.0262 during early U.S. trade, the session low; the pair subsequently consolidated at 1.0275, easing 0.04%.

The pair was likely to find support at 1.0174, the low of June 19 and resistance at 1.0350, the high of July 23.

Markets were jittery after the release of mixed U.S. data on initial jobless claims and durable goods orders on Thursday fuelled uncertainty over whether the Fed will start to scale back its bond buying program later this year.

The Labor Department said the number of individuals filing for initial jobless benefits last week increased by 7,000 to a seasonally adjusted 343,000, compared to expectations for an increase of 6,000 to 340,000.

The Commerce Department said orders for long lasting manufactured goods rose by a seasonally adjusted 4.2% in June, compared to expectations for an increase of 1.3%.

Durable goods for May were revised to a 5.2% gain from a previously reported 3.7% increase.

The loonie was higher against the euro with EUR/CAD slipping 0.09%, to hit 1.3639.

Later in the day, the U.S. was to produce revised data on consumer sentiment from the University of Michigan.

Mexican trade balance rises unexpectedly

Mexico’s trade balance rose unexpectedly last month, official data showed on Thursday.

In a report, Insituto Nacional de Estadistica Y Geografia said that Mexican Trade Balance rose to a seasonally adjusted 0.855B, from -0.470B in the preceding month.

Analysts had expected Mexican Trade Balance to fall to -0.600B last month.

Forex - EUR/USD holds steady in thin trade

The euro held steady against the U.S. dollar in thin trade on Friday, as investors remained cautious ahead of the release of U.S. consumer sentiment data later in the day, amid uncertainty over the future of the Federal Reserve's stimulus program.

EUR/USD hit 1.3260 during European afternoon trade, the session low; the pair subsequently consolidated at 1.3268, easing 0.07%.

The pair was likely to find support at 1.3177, the low of July 24 and resistance at 1.3318, the high of June 11.

Markets were jittery after the release of mixed U.S. data on initial jobless claims and durable goods orders on Thursday fuelled uncertainty over whether the Fed will start to scale back its bond buying program later this year.

The Labor Department said the number of individuals filing for initial jobless benefits last week increased by 7,000 to a seasonally adjusted 343,000, compared to expectations for an increase of 6,000 to 340,000.

The Commerce Department said orders for long lasting manufactured goods rose by a seasonally adjusted 4.2% in June, compared to expectations for an increase of 1.3%.

Durable goods for May were revised to a 5.2% gain from a previously reported 3.7% increase.

Core durable goods orders, which exclude volatile transportation items, were flat in June, compared to expectations for a 0.5% increase.

The euro was lower against the pound with EUR/GBP shedding 0.25%, to hit 0.8610.

Later in the day, the U.S. was to produce revised data on consumer sentiment from the University of Michigan.