Trading news

Forex trading plan for Feb. 13

EUR/USD sits tight in the 1.1355/1.1270 area. The Greek debt deal is put off until the next week. The main questions are whether the bailout is extended and on what conditions as well as what happens to Greek banks. As there’s a hope for compromise, euro’s holding its ground. There’s a risk of a short squeeze to the upside on positive news about Greece. On Friday watch the releases of French, German and the euro area GDPs (06:30-10:00 GMT). So far euro didn’t react much to the economic data releases, and Friday may be no different.

USD/JPY didn’t stay above 120 for a long time and spiked down to 118.72 before once again recovering to the 119.50 area. The pair fluctuated on the news about the Ukraine. There also were some reports that Bank of Japan’s officials are concerned about the negative effects of additional stimulus. Plus US retail sales data was a big disappointment. Still, USD/JPY has breached a big wedge/triangle to the upside, so the medium-term outlook is bullish. If the support at 119.20 and 118.70 (55-day MA) holds, it will be a good sign.

GBP/USD jumped to 1.5365 as the Bank of England’s Governor Mark Carney said that the next move of the central bank will likely be to raise interest rates. For now traders have turned optimistic about GBP. As long as support at 1.5185/1.5200 holds, the odds will be of sterling rising to 1.5475. Note that pound faces resistance at 1.5380 (55-day MA, bottom of the bearish daily Cloud).

AUD/USD was hit as the worries that the Reserve Bank of Australia will cut interest rates in March have returned. It would be interesting to see what the RBA’s Governor Stevens has to say about the unexpected surges in Australian unemployment as he speaks tonight. Aussie can fall towards 0.7550 if he sounds dovish. Resistance is at 0.7700 and 0.7786.

Thursday, 12 Feb, 2015 / 3:16

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source :

Trading news


A Widening Gap? UK GDP & German ZEW Survey

The difference in vaccine rollout within Europe is most likely to have a major [...]

Posted on Monday, 12 Apr, 2021 / 2:04 under

Gold futures traded lower on Friday, a day after recording the strongest daily surge for the month

Rising US Treasury yields and an uptrend in the greenback exerted pressure on [...]

Posted on Monday, 12 Apr, 2021 / 12:03 under

The latest Fed and ECB statements move the currency market

Over the weekend, the Fed head has once again assured that the ultra-expansive [...]

Posted on Monday, 12 Apr, 2021 / 11:59 under