23Sep
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IForex Market Trading Signals and News of 23 September 2014

TRADING TIPS :

  • Forex-Dollar eases off highs but remains broadly supported .
  • Forex- Bitcoin trades near 5-month low as regulation concerns weigh.
  • Forex-EUR/USD off 14-month lows but remains under pressure.

EUR/USD
EUR/USD hit 1.2868 during European morning trade, the session high; the pair subsequently consolidated at 1.2855, adding 0.19%The pair was likely to find support at 1.2826, the low of September 19 and resistance at 1.2929, the high of September 19.The euro edged up against the U.S. dollar on Monday, easing off a 14-month low but gains were expected to be capped as growing expectations for an early U.S. rate hike continued to support the greenback.The euro has remained under broad selling pressure since the European Central Bank unexpectedly cut rates to record lows across the euro zone earlier this month, and implemented fresh measures in an attempt to shore up inflation in the currency bloc.

GBP/USD
GBP/USD hit 1.6366 during European morning trade, the session high; the pair subsequently consolidated at 1.6331, rising 0.28%.Cable was likely to find support at 1.6244, the low of September 18 and resistance at 1.6408, t the high of September 18.The pound rose to two-week highs against the greenback on Friday after voters in Scotland chose to stay in the U.K. by a significant margin in a independence referendum, defying opinion polls which had indicated that the final result would be too close to call.The pound edged higher against the U.S. dollar on Monday, but gains were expected to remain limited as demand for the greenback remained supported by expectations for an early rate hike by the Federal Reserve.

RECOMMENDATION :

1. Buy EUR/USD Above 1.2854-TG:1.2874/1.2904 SL 1.2834
2. Sell EUR/USD Below 1.2838-TG:1.2818/1.2788 SL 1.2868

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