EUR/USD 1.17891 (12:45 07.08)
DUBAI 3386.050 (10:00 07.05)
DUBAI 3392.470 (09:30 07.05)
KUWAIT 6554.560 (09:20 07.05)
TADAWUL 6874.340 (09:00 07.05)
DUBAI 3394.260 (09:00 07.05)
DUBAI 3398.330 (08:30 07.05)
DUBAI 3388.160 (08:00 07.05)
DUBAI 3396.650 (07:30 07.05)
KUWAIT 6731.290 (07:20 07.05)
SAUDI REFINERIES 33.450 (12:20 06.05)
SAUDI REFINERIES 33.450 (10:00 06.05)
BitCOin/USD 1522.1733 (03:10 06.05)
DOLLAR INDEX-APR17 98.443 (20:30 05.05)
USD/JPY 112.481 (20:00 05.05)
FERRARI 82.485 (20:00 05.05)
EUR/CHF 1.08523 (20:00 05.05)
ALIBABA 116.035 (20:00 05.05)
NZD/USD 0.69187 (20:00 05.05)
EUR/AUD 1.48178 (20:00 05.05)
AUD/USD 0.74225 (20:00 05.05)
AUD/JPY 83.485 (20:00 05.05)
DOLLAR INDEX-APR17 98.420 (20:00 05.05)
3M 199.355 (20:00 05.05)
USD/CHF 0.98679 (20:00 05.05)
EUR/USD 1.09977 (20:00 05.05)
EUR/JPY 123.705 (20:00 05.05)
GENERAL MOTORS 33.765 (20:00 05.05)
AUD/CHF 0.73240 (20:00 05.05)
GBP/CAD 1.77307 (20:00 05.05)
MARKET NEWS
 
 
May 14, 2014


Daily Market Analysis for Wednesday, May 14th 2014

Today's main Financial Events (All times GMT):




Here is a look at today's top traded currencies and commodities. Please keep a close eye on the market today, as important financial data is scheduled to be released mainly in United Kingdom, United States, Europe and New Zealand. Prices are expected to fluctuate during trading hours. Please find below our recommendations for today:



EUR/USD
Key Levels: High at 1.3723/Low at 1.3697

Support Levels at: 1.3654/1.3619/1.3585

Resistance Levels at: 1.3738/1.3772/1.3806



EUR/USD is on a recovery mode; Expected to show increased positive momentum
EUR/USD traders will be looking forward to the release of important financial data coming out during Wednesday's trading session from Europe and United States. Nordex trading top financial analysts also advise traders to focus on technical analysis throughout today's session. The EUR/USD is currently traded at around a level of 1.3720. The pair will most probably be able to develop an upward momentum trend during today's session due to the ECB forecasts that are scheduled to be published. The EUR/USD had started the day below a level of 1.3700 but was able to start recovering and went up. Lower than expected figures for April's preliminary HICP might cause the EUR to be under some pressure. During yesterday's session, the pair declined from a level of 1.3771 down to 1.3690 but was able to reverse its pattern and start climbing upwards before hitting the 1.3650 level.    

According to the Nordex trading academy, the EUR/USD will have the ability to overcome its downward momentum shift from yesterday and will continue strengthening until the end of the day. From a technical perspective, it seems as if the pair might be able to breach the first resistance level of 1.3738 until the end of the day. Our Nordex trading analysts estimate that a more than likely upward trend is expected until the end of the day.   

       

AUD/USD
Key Levels: High at 0.9412/Low at 0.9354

Support Levels at: 0.9320/0.9296/0.9273

Resistance Levels at: 0.9371/0.9395/0.9418



AUD/USD is showing strong positive momentum signs; further strengthening expected
The AUD/USD looks as if it will be faced with a continuous upward trend momentum during Wednesday's trading session after it had progressed from the 0.9335 level all the way up to the 0.9401 level during today's very early Asian session. The pair has been showing signs of a steady upward momentum trend that started from yesterday's late session. According to the Nordex trading chart, the pair is currently being traded at a level of around 0.9400. Although the pair had weakened a bit during yesterday's earlier session (0.9335 up to 0.9380 and back down to 0.9350), it is expected to further strengthen as today's trading session progresses. The pair showed almost no reaction to the Australian budget release earlier in the session. AUD/USD traders will be keeping a close eye on important financial data release figures coming out during today's trading session from United States.            

The pair's technical indicators are showing a strong possibility of breaching the third resistance level currently targeted at 0.9418. Nordex trading analysts estimate that current market conditions will more than likely favor an uptrend until the end of the day.  

                                            
 
Silver
Key Levels: High at 19.5600/Low at 19.4810

Support Levels at: 19.5110/19.4610/19.4230

Resistance Levels at: 19.5990/19.6370/19.6870



Silver is "slowly but surely" on its way up
Silver is back on the positive track, trading in the territory of the so called "Green zone". Silver is currently trading at around the 19.5700 price level. The precious commodity has been showing signs of strong downward & upward momentum shifts since Monday's trading session. During yesterday's session, Silver reached a low level of 19.345 but recovered back up to 19.610. Silver is scheduled to continue with its up trend and is expected to climb further up as today's session progresses. Silver closed relatively high on Tuesday at a level of $19.560. Our analysts are saying that Silver prices have been mostly unstable lately.        

Nordex trading experts believe that Silver is on its way of breaching it's first resistance level currently targeted at 19.5990. Traders will be looking forward to the release of important financial data scheduled later for today from United Kingdom, United States and Europe. Nordex trading analysts estimate that current market conditions favor a possible uptrend in Silver until the end of the day.

Financial Calendar