19Aug

IForex Market Trading Signals and News of 19th August 2014

TRADING TIPS :

  • Forex – Dollar steady, sterling pushes higher
  • Forex – Pound broadly higher after Carney comments
  • Forex – Euro steady against dollar, yen

USD/CHF
USD/CHF hit 0.9047 during European late morning trade, the session high; the pair subsequently consolidated at 0.9042, rising 0.20%.The pair was likely to find support at 0.8980, the low of July 22 and resistance at 0.9086, the high of August 14.Market participants continued to focus on developments in Ukraine following reports on Friday that the country’s military attacked and destroyed a number of armored vehicles that entered the country from Russia.Investors hoping that a meeting due to take place between Russian and Ukraine’s foreign ministers later in the day would result in a breakthrough to ease geopolitical tensions in the region.

NZD/USD
NZD/USD hit 0.8476 during late Asian trade, the session low; the pair subsequently consolidated at 0.8480, inching down 0.06%.The pair was likely to find support at 0.8420, the low of August 13 and resistance at 0.8531, the high of August 5.Investors remained cautious as tensions over the crisis in Ukraine escalated on Friday following reports that Ukraine’s military attacked and destroyed a number of armored vehicles that entered the country from Russia. The kiwi was little changed against the Australian dollar, with AUD/NZD easing up 0.04%, to 1.0986. Also Monday, official data showed that new motor vehicle sales in Australia dropped 1.3% last month, after a 1.7% increase in June.

RECOMMENDATION :

1. Buy USD/CHF Above 0.9068-TG:0.9078/0.9108 SL 0.9038
2. Sell USD/CHF Below 0.8986-TG:0.8966/0.8936 SL 0.9016

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