Short-term Trading Idea FX EUR/USD – Bear Speculation: Bear Takeover

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Trading opportunities for currency pair: ECB representative Ewald Nowotny pushed the eurobulls into closing long positions. It’s highly likely that before the ECB’s Thursday meeting, we’ll see the downward movement on the euro resuming. I’ve picked out two price levels: 1.1250 and 1.1086 (by middle of November), with 1.0290 over the medium term.

Short-term Trading Idea FX EUR/CAD – Bear Speculation: Development on 31st August Ideas

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Trading opportunities for currency pair: the euro is under pressure since market participants expect the ECB to extend its QE program. Due to these expectations and the stable oil price around 50 USD, expect the euro to fall to 1.4490 and below. A close of the weekly candle above 1.4930 will stop any fall.

FOREX GBP USD: Expected Consolidation in Wide Range. 16.10.2015

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Due to the euro, the pound had a volatile day. The pound received support from the euro/pound cross throughout the day when the ECB’s Ewald Nowotny spoke. The pound fell after the US stats came out in the evening. By renewing the minimum, the price returned back to 1.55. The pound stabilized at 1.5470. With such a movement pattern, we could see either a fall or a rise. I’ve gone for a fall to 1.5420 to 1.5470. The daily trend line hasn’t been broken.

FOREX EUR USD: Bull Takeover on Daily. 16.10.2015

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Yesterday’s Trading:
The euro/dollar’s 5-day growth has ground to a halt. Trading in Europe saw the euro down due to the ECB’s Ewald Nowotny sticking his oar in and then the US stats came out in the evening which added to the fall. Nowotny suggested that the ECB should adopt additional measures to aid inflation growth. The US’ CPI for September was down slightly on August, but it remained unchanged when expressed annually. The labor market data turned out better than expected.

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.

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.

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