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.

FOREX GBP USD: V-Shaped Patten Expected on Hourly 09.10.2015

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The pound fell after the BoE’s minutes were published and then it renewed to 1.5370 after the FOMC’s minutes were out. Before the weekend and for today, I’m going to go for a similar pattern, just with a little less amplitude. Where today closes is important for the weekly graph. If the pound/dollar closes above 1.5370, a false break in the trend will be recorded on the weekly.

FOREX GBP USD: W-Shaped Model on Daily 08.10.2015

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The end of yesterday saw the dollar down against the UK pound to 1.5314. Meanwhile, the dollar index was trading in a sideways trend. The pound received support from UK industrial production data which came out better than expected. On Thursday there are some important events planned for the currency market. First will be the Bank of England’s base rate decision, then the ECB minutes and those of the FOMC. At 21:00 EET the BoE’s Mark Carney is giving a speech.

FOREX EUR USD: Expected Return to LB

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Yesterday’s Trading:
On Tuesday the euro/dollar renewed from 1.1171 to 1.1278. No important US macroeconomic data came out. The ECB’s Mario Draghi didn’t mention monetary policy in his speech. I believe that a fall in the USD was provoked by the Canadian dollar which has been strengthening with the price of oil. Brent is up 5.6% to 52.15 USD. The commodities market has reacted positively to OPEC General Secretary Abdallah Salem el-Badri’s speech in which he mentioned the readiness of OPEC’s 21 member states to meet other oil producer states to discuss global oil prices.

FOREX GBP USD: Fall Expected During European Trades

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In the euro review I wrote about what I think caused the dollar to fall against the key currencies. The pound/dollar is back up to 1.5256. At 11:30 EET, the UK is publishing manufacturing and industrial production values for August. These reports could cause fluctuations on the pound of between 50 and 60 points. In my forecast I’ve gone for a fall to the LB. If the price of oil heads up, the USDCAD will head downwards and everything else will follow it, as had happened yesterday.

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