Trading news

Trading plan for Oct. 28

EUR/USD is trying to overcome $1.2700. The results of the European banks stress tests were a bit better than expected, but data from both the euro area and the US on Monday came lower and outbalanced each other. Tomorrow market players will watch whether the US durable good orders and consumer confidence pick up. We see a kind of a short-term rising channel on the chart since Oct. 23. Resistance is at $1.2740, $1.2770, $1.2790 and $1.2850. Support is at $1.2675 and $1.2625.

Improved risk sentiment may pull AUD/USD higher, though it might be difficult for the pair to get outside of consolidative mood before we hear from the Fed on Wednesday.

GBP/USD has recovered to $1.6150 on Monday. UK CBI Realized Sales came out well above the forecast, rendering support to the pound. The upside remains capped by $1.6180 for now; next levels above the price are $1.6200 and $1.6220/30. Support is seen at $1.6000 and $1.5950. Dovish MPC member Shafik will deliver a speech at 18:30 GMT on Monday, while on Tuesday evening member Cunliffe is scheduled to speak.

USD/JPY trades under bearish pressure on Monday, but holds above the 107.50 support as we write. Last week’s close above the 108 mark was a bullish sign, so we see space for more bullish movement. Japan will release September retail sales data at 23:50 GMT on Monday (forecast: 0.9% vs. prior 1.2%).

Monday, 27 Oct, 2014 / 3:31

Source : http://fxbazooka.com/en/analitycs/show/2724

Trading news

 

Dollar Rebounds On G20 Summit And Falling Yields

The US dollar was seen posting some moderate gains on Tuesday. This marks the [...]

Posted on Wednesday, 26 Jun, 2019 / 10:01 under

Bullard rains on the USD bears’ parade

The St. Louis Fed’s Bullard rained on the USD bears’ parade by [...]

Posted on Wednesday, 26 Jun, 2019 / 8:47 under

Powell Wakes USD-Bulls Up, RBNZ Signals Need for Lower Rates

The dollar rebounded yesterday after Fed Chair Jerome Powell said that [...]

Posted on Wednesday, 26 Jun, 2019 / 7:35 under