Analysis for 29 August 2013
EUR/USD
After the euro against the U.S. dollar had suffered losses of nearly 0.50% yesterday, today a whole range of data for the euro zone wil be published. The key figures here comes from Germany again, where at 03:55h the data are published of unemployment and at 08:00h the German consumer price index. While the unemployment no significant change is expected to the previous month, a slight decrease is forecast for consumer prices.
In the U.S., at 08:00 clock the weekly data on initial and continuing jobless claims aid are published, the GDP and the GDP price index for the last quarter. The forecasts speak for only minor changes. Note also the speech of the chairman of the St. Louis Fed, James Bullard, who has least to an early reduction of bond purchases by the Fed expressed skepticism.
Without gross outliers in the economic data, the USD should maintain its bullish rate against the EUR.
Long: > 1,3374
S/L: 25 Pips
TP: 35 Pips
Trailing Stop: 20 Pips
Short: < 1,3315
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 20 Pips
GBP/USD
The GBP yesterday came nearly out of losses from the early trading, after the speech by BoE Governor Mark Carney, whos speech wasn´t aligned dovish, like expected, nor hawkish, to don´t bring uncertainty in the markets. Avoided defining exactly this could again lead to uncertainty against the GBP today.
Long: > 1,5555
S/L: 25 Pips
TP: 35 Pips
Trailing Stop: 17,5 Pips
Short: < 1,5490
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 20 Pips
AUD/USD
The Australian dollar has also suffered yesterday, braked by the risk aversion of investors and take losses against nearly all Counterparts. This setting should not be changed on the market today. While the published figures on private investment can take a little pressure from the AUD, for a turnaround but it will probably not be enough.
Long: > 0,8998
S/L: 25 Pips
TP: 35 Pips
Trailing Stop: 20 Pips
Short: < 08925
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 25 Pips
USD/JPY
Due to the desire of investors for a "Safe Haven" by the threat of conflict in Syria, the yen had suffered losses yesterday for the first time after three days against the dollar and fell by around 0.70%. This trend could be today, albeit slowed down a little, further continue.
Long: > 98,03
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 20 Pips
Short: < 97,25
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 20 Pips
The data for entry, S/L and TP are shown as a guide only and that is probably conservative. They can be adapted to the current market behavior and your own trading style.
Risk Warning / Disclaimer
The opinions of the author to market behavior do not constitute a solicitation to buy or sell any financial products, but are merely a personal opinion. When you go into the trade in leveraged financial products, you must be aware that a loss up to the amount of your deposit and in addition, can also be an obligation to arise. Make yourself familiar with the active trade or get independent advice before you invest your own money and use only invest money that you can get over the worst case.