21Dec
Forex trading

IForex Market Trading Signals and News – 21 December 2015

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar falls against yen after Japan stops short of extra QE
  • Forex -Dollar remains moderately lower in quiet trade
  • Forex -Dollar gets altitude sickness as BOJ disappoints

EUR/USD
The dollar slid lower against the euro on Friday, as markets took a breather after the Fed- eral Reserve’s rate hike on Wednesday and as the Bank of Japan’s kept its monetary policy unchanged.EUR/USD rose 0.30% to 1.0858. The dollar had strengthened broadly after the Fed raised interest rates by a quarter of a percentage point to between 0.25% and 0.50% at the conclusion of its two-day policy meeting on Wednesday. It was the first rate hike in the U.S. since 2006.Commenting on the decision, Fed Chair Janet Yellen said that further rate hikes would be gradual and data dependent.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.44% at 98.76, off the previous session’s two-week high of 99.35.

GBP/USD
The pound rose against the U.S. dollar on Friday, easing off an eight-month low as investors digested the Federal Reserve’s decision to raise interest rates on Wednesday. GBP/USD hit 1.4950 during European morning trade, the session high; the pair subsequently consolidated at 1.4934, rising 0.21%.Cable was likely to find support at 1.4861, Thursday’s low and an eight-month low and resistance at 1.5003, Thursday’s high.The dollar had strengthened broadly after the Fed raised interest rates by a quarter of a percentage point to between 0.25% and 0.50% at the conclusion of its two-day policy meeting on Wednesday. It was the first rate hike in the U.S. since 2006.Meanwhile, the pound remained mildly supported after the U.K. Office for National Statistics reported on Thursday that retail sales increased by 1.7% last month, blowing past forecasts for a gain of 0.5%.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4930 TARGET 1.4950 1.4980 SL 1.4910
  • SELL GBP/USD BELOW 1.4900 TARGET 1.4880 1.4850 SL 1.4930

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