FOREX EUR USD: Left the Range on Weekly – New Target: 1.1620. 15.10.2015

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Yesterday’s Trading:
On Wednesday the USD was down against the key pairs after weak retail sales data and manufacturing inflation figures for the US came out. The data was worse than expected. Previous retail sales figures were reassessed downwards. The key index for industrial prices fell to a minimum since January and the PPI was negative. The data has signalled a slowing of US economic growth and has lessened the likelihood of an interest rate hike in the near future.

FOREX GBP USD: Pound/Dollar: Bulls Take Rate to Trend Line. 15.10.2015

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The UK pound hit the jackpot yesterday. During the day it strengthened on UK inflation data and in the evening it strengthened on weak US statistics. In the end it was up against the dollar by 2 figures. Since the pound/dollar reached the U3, I think we’ll see a correction after a renewal of the maximum, Furthermore, the pair has reached the trend line on the daily (see daily graph). If it doesn’t fall, it’s likely we’ll see the forming of a saw along the U3 (still two peaks). According to the price pattern on the daily, the pound could reach 1.56 against the dollar.

FOREX GBP USD: Expected 60-70 point Range Sideways 14.10.2015

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The pound/dollar renewed its maximum and fell to 1.5199 on the data. The pair is now trading beneath the LB. What can we expect today? From the LB with an MA heading downwards: we’re looking at a fall. At 11:30 EET, UK labour market data will be out. The data could make the pound swing and I wouldn’t be surprised if the pound heads back to 1.5370 if the data comes out strong. The news is more important than the technical side. On the forecast I’ve gone for a fall to 1.5222 and then a growth to 1.5285.

FOREX GBP USD: Expected Growth to 1.5370 13.10.2015

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As I expected, the pound/dollar passed the balance line on Monday. The pound corrected to 45 degrees in Asia and was trading around 1.5318 at 8:56 EET (minimum: 1.5301). Today will see UK inflation figures out and the rate could start swinging during the following 30 minutes after the figures come out. For Tuesday I’m expecting a growth from the 1.5301 minimum to 1.5368/70.

Short-term Trading Idea FX USD/NOK – Bull Speculation: Possible Recoil from 8.0400-8.0650 Zone 12.10.2015

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Trading opportunities for currency pair: a spike pattern has appeared on the daily. The fall stopped near a strong support. I’ll risk saying that we’ll see a rebound for the dollar from 8.0400-8.0650 this week. Trading on the rebound is risky. If Brent breaks the 54.14 mark, it’s worth staving off dollar purchases. Wait for a fall in the dollar rate to the trend line and then keep an eye on how the price behaves.

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