20Nov
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IForex Market Trading Signals and News – 20 November 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX -AUD/USD rises to 2-week highs amid profit-taking
  • FOREX – Kiwi climbs vs. softer greenback, gains capped
  • FOREX -Dollar lower after Fed, yen gains after BoJ hol

EUR/USD
The EUR/USD pair trades 0.12% higher at fresh session lows of 1.0670, having faced rejection near 1.0715 area. Positive RSI divergence continues to point to weakening selling pressure and hints a rebound may be ahead. The main currency pair halted its corrective rally and turned back lower below 1.07 handle, as the greenback recovered more than half its slide against its major competitors. Moreover, a flying start seen on the European equities brought in renewed optimism in markets as the European traders brush off the recent FOMC minutes and now look forward to the ECB October meeting account.The major came under renewed selling pressure as the persisting divergent monetary policy outlooks between both continents continue to dampen the sentiment around the euro.

GBP/USD
The pound showed little reaction on Thursday after data showing that U.K. retail sales fell in October, while demand for the dollar continued to be underpinned after Wednesday’s Federal Reserve minutes flagged a December rate hike.GBP/USD was trading at 1.5247, from around 1.5252 ahead of the data.The Office for National Statistics said retail sales fell 0.6% last month, worse than forecasts for a decline of 0.5%.On a year-over-year basis, retail sales rose 3.8% in October, below expectations for a 4.2% gain, after rising at an annualized rate of 6.2% in September.Sterling was slightly lower against the euro, with EUR/GBP edging up to 0.7005. The U.S. dollar index, which measures the greenback’s strength against a trade- weighted basket of six major currencies, was down 0.26% to 99.41, easing back from Wednesday’s highs of 99.96, the strongest since April 14.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5280 TARGET 1.5300 1.5330 SL 1.5250
  • SELL GBP/USD BELOW 1.5230 TARGET 1.5210 1.5180 SL 1.5260

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