18Aug
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IForex Market Trading Signals and News of 18th August 2014

TRADING TIPS :

  • Forex – Dollar falls on U.S. data, escalating Ukraine conflict
  • Forex – USD/JPY drops on U.S. data, escalating Ukraine conflict
  • Forex – EUR/USD gains on soft U.S. data, Ukraine events

EUR/USD
In U.S. trading on Friday, EUR/USD was up 0.24% at 1.3398. A double-shot of mixed data and geopolitical concerns took its toll on the dollar on Friday. The preliminary Thomson Reuters/University of Michigan consumer sentiment index ticked down to a nine-month low of 79.2 in August from 81.8 in July. Analysts had expected the index to rise to 82.5 this month, and the disappointing figure weakened the U.S. Currency. Separately, the New York Federal Reserve said that its Empire State manufacturing index fell to a four-month low of 14.69 this month from 25.60 in July, worse than expectations for a decline to 20.0.

USD/JPY
In U.S. trading, USD/JPY was down 0.13% and trading at 102.32, up from a session low of 102.14 and off a high of 102.71.The pair was expected to test support at 101.51, the low from Aug. 8, and resistance at 102.71, the session high. The preliminary Thomson Reuters/University of Michigan consumer sentiment index ticked down to a nine-month low of 79.2 in August from 81.8 in July. Analysts had expected the index to rise to 82.5 this month, and the disappointing figure weakened the dollar. Separately, the New York Federal Reserve said that its Empire State manufacturing index fell to a four-month low of 14.69 this month from 25.60 in July, worse than expectations for a decline to 20.0.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6700- TG: 1.6720/ 1.6750 SL 1.6670
2. Sell GBP/USD Below 1.6680- TG: 1.6660/ 1.6630 SL 1.6710

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