13May

IForex Market Trading Signals and News of 13th May 2014

TRADING TIPS

EUR/USD

EUR/USD was last trading at 1.3766, but was still close to the one-month trough of 1.3744 reached late Friday.The pair was likely to find support at 1.3695 and resistance at 1.3800.The euro fell from two-and-a-half year highs against the dollar on Thursday after ECB President Mario Draghi said the banks is “comfortable” with acting to shore up growth and stop inflation from falling too low at its next meeting in June.The ECB left rates on hold on Thursday, as widely expected.Meanwhile, investors remained cautious after pro-Russian separatists claimed victory in a weekend referendum on self-rule in eastern Ukraine, fuelling fears that the country is sliding closer to civil war. The vote has been condemned by Ukraine’s government and the West.The euro was also higher against the yen, with EUR/JPY risin.

NZD/USD

NZD/USD hit 0.8633 during late Asian trade, the session high; the pair subsequently consolidated at 0.8628, adding 0.19%.The pair was likely to find support at 0.8549, the low of April 30 and resistance at 0.8709, the high of May 7.Markets were jittery after pro-Russian separatists claimed victory in a weekend referendum on self-rule in eastern Ukraine, fuelling fears that the country is sliding closer to civil war. The vote has been condemned by Ukraine’s government and the West.The kiwi was higher against the Australian dollar, with AUD/NZD slipping 0.16% to 1.0852.Also Monday, the National Australia Bank said that its business confidence index rose to 6 in April, from a reading of 4 the previous month.Later in the d.

RECOMMENDATION:

1. Buy GBP/USD Above 1.6905- TG: 1.6925/ 1.6955 SL 1.6875
2. Sell GBP/USD Below 1.6860- TG: 1.6840/ 1.6810 SL 1.6890

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