28Sep
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IForex Market Trading Signals and News – 28 September 2015

INTERNATIONAL CURRENCY BUZZ :

  • Forex – AUD/USD holds steady near 2-1/2 week lows
  • Forex – NZD/USD rises despite downbeat N.Z. trade balance
  • Forex – Yen weaker in Asia in light data day, NZ trade gap widens

GBP/USD
The pound edged lower against the U.S. dollar on Friday, re-approaching a three-week trough as new hopes for a U.S. rate hike before the end of the year sent the greenback broadly higher.GBP/USD hit 1.5206 during European morning trade, the session low; the pair subsequently consolidated at 1.5221, slipping 0.12%.Cable was likely to find support at 1.5168, the low of September 7 and resistance at 1.5369, the high of September 23.In a speech late Thursday, Fed Chair Janet Yellen said she expected the central bank to begin raising rates later in 2015, as long as inflation remained stable and the U.S. economy was strong enough to boost employment.The comments came after a string of U.S. data released on Thursday painted a mixed picture of the health of the economy.

EUR/USD
EUR/USD fell mildly on Friday, as currency traders reacted to relatively hawkish comments from Federal Reserve chair Janet Yellen hours earlier, providing a strong likelihood that the U.S. central bank will raise short-term interest rates over the next three months.The currency pair wavered between a range of 1.1117 and 1.1296, before settling at 1.1195, down 0.0037 or 0.33% on the session. The euro has now closed lower against the American dollar in five of the last seven sessions. For the week, the euro lost nearly 1% in value against its American counterpart. EUR/USD likely gained support at 1.1088, the low from September 4 and was met with resistance at 1.1625, the high from Aug. 25.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5210 TARGET 1.5230 1.5260 SL 1.5180
  • SELL GBP/USD BELOW 1.5170 TARGET 1.5150 1.5120 SL 1.5200

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