19Oct
forex-trading3

IForex Market Trading Signals and News – 19 October 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX -Kiwi falls in Asia despite higher than expected Q3 CPI
  • FOREX -Aussie weaker as RBA paints downbeat view on China economy
  • FOREX -Dollar steady vs. euro, higher against yen after strong U.S. data

EUR/USD
The EUR/USD pair falls -0.25% to 1.1358, retreating from fresh two-day lows struck at 1.1354 last minutes. The major ran through fresh offers near the hourly 20-SMA placed at 1.1379 and accelerates losses thereon, with eyes set on the hourly 200-DMA at 1.1338. The EUR/USD pair came under renewed selling pressure after Thursday’s dovish comments from ECB policymaker Ewald Nowotny spurred hopes of further QE expansion by the central bank.More so, the persisting upbeat global sentiment drove the European stocks higher for the second straight session, thus reducing the demand for the euro as a safer bet. The pan European benchmark, the Euro Stoxx 50 jumps 0.93% to 3,267 while the DAX advances 0.78% to 10,141.Looking ahead, the pair will be influenced by the Euro zone final CPI figures ahead of the US economic data releases with the consumer sentiment survey expected to be the main market mover later today.

GBP/USD
The pound held steady against the U.S. dollar on Friday, as the previous session’s upbeat U.S. data continued to support demand for the greenback and investors eyed the release of additional U.S. economic reports later in the day.GBP/USD hit 1.5487 during European morning trade, the session high; the pair subsequently consolidated at 1.5453.Cable was likely to find support at 1.5243, Thursday’s low and resistance at 1.5513, Thursday’s high and a three-week peak.The dollar strengthened broadly after the U.S. Department of Labor reported on Thursday that the number of individuals filing for initial jobless benefits in the week ending October 10 decreased by 7,000 to 255,000 from the previous week’s total of 262,000.Sterling was higher against the euro, with EUR/GBP shedding 0.23% to 0.7345.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5460 TARGET 1.5480 1.5510 SL 1.5420
  • SELL GBP/USD BELOW 1.5400 TARGET 1.5380 1.5350 SL 1.5430

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