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Forex trading plan for Dec. 16

US dollar firmed versus all the major currencies on Monday as investors await the Fed’s meeting outcome on Wednesday. Given the recent strong US releases, part of market players expect the US monetary authorities to turn more hawkish in December.

EUR/USD holds below the 1.2500 mark as the expectations for the ECB’s QE keep on growing. On Tuesday watch the euro zone’s PMIs and ZEW economic activity indices – forecasts are upbeat. Break above 1.2500 could open the way for a higher rebound towards 1.2600, while support is seen at 1.2350.

GBP/USD fell from 1.5745 down to 1.5630. Watch the UK inflation data on Tuesday – price growth is expected to have slowed further in November. BOE Governor Marc Carney will deliver a speech tomorrow.

AUD/USD hovers near its 4.5-year lows slightly above the 0.8200 mark. This figure acts as a support these days, but the medium-term picture remains bearish. The RBA is scheduled to release its meeting minutes tonight. What’s more, the Aussie could also be influenced by the Chinese HSBC manufacturing PMI tonight (forecast – downbeat).

Monday, 15 Dec, 2014 / 3:22

Source : http://fxbazooka.com/en/analitycs/show/3082

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