26Oct
Forex trading

IForex Market Trading Signals and News – 26 October 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX -Dollar extends gains after Draghi remarks, U.S. data
  • FOREX -Euro continues fall on ECB president’s dovish tone
  • FOREX -Dollar slips lower vs. rivals amid profit-taking

EUR/USD
The euro tumbled to three-week lows against the U.S. dollar on Thursday, after European Central Bank President Mario Draghi hinted at the possibility for further easing measures before the end of the year.EUR/USD hit 1.1160 during U.S. morning trade, the pair’s lowest since October 2; the pair subsequently consolidated at 1.1171, plummeting 1.57%. The pair was likely to find support at 1.1132, the low of October 1 and resistance at 1.1351, the session high. The euro was hit after ECB President Draghi said the central bank will “reexamine” its monetary policy in December, hinting at the possibility for further easing measures.In the U.S., the Department of Labor reported on Thursday that the number of individuals filing for initial jobless benefits in the week ending October 17 increased by 3,000 to 259,000 from the previous week’s total of 256,000. Analysts had expected jobless claims to rise by 9,000 to 265,000.

GBP/USD
The pound held steady against the U.S. dollar on Friday, as demand for the greenback weakened mildly amid profit-taking following its broad rally in the previous session.GBP/USD hit 1.5416 during European morning trade, the session high; the pair subsequently consolidated at 1.5401. Cable was likely to find support at 1.5338, the low of September 22 and resistance at 1.5508, Thursday’s high. The greenback was boosted after the U.S. Department of Labor reported on Thursday thatthe number of individuals filing for initial jobless benefits in the week ending October 17 increased by 3,000 to 259,000 from the previous week’s total of 256,000.The U.S. dollar also strengthened broadly after European Central Bank President Mario Draghi said the ECB will “reexamine” its monetary policy in December, hinting at the possibility for further easing measures.

RECOMMENDATION :

  • BUY EUR/USD ABOVE 1.1030 TARGET 1.1050 1.1080 SL 1.1000
  • SELL EUR/USD BELOW 1.0960 TARGET 1.0940 1.0910 SL 1.0990

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