Forex-Analysis for 05 September 2013
EUR/USD
The U.S. dollar showed weakness yesterday due to positive news from the world economy shows signs of recovery. The couple subsequently rose again above the mark of 1.3200, which could fall below it again in Asian trade.
Today is the announcement of the ECB's decision to the interest rate for the euro-area. The interest rate will remain at 0.50%, and it will depend on Mario Draghi's speech at 08:30 h, whether the event will have greater impact on the rate of the euro. Analysts expect that Draghi will confirm a more aggressive stance of the ECB. This could adversely affect to the euro due the expectation of a reduction by the Fed. The German work orders at 08:00 h may have an impact on the euro. They showed in July an increase of 3.8%, for August a decline of 1.0% expected.
From the United States today are some important numbers, the focus will probably be on the non-farm payrolls. Overall, the predictions foreshadow a further positive development and the USD should, if the data not turn out unexpectedly bad, get a further boost in the afternoon.
Long: > 1,3210
S/L: 25 Pips
TP: 35 Pips
Trailing Stop: 20 Pips
Short: < 1,3170
S/L: 25 Pips
TP: 50Pips
Trailing Stop: 25 Pips
GBP/USD
The BoE today at 07:00 h publish the announcement of the interest rate, which should remain at 0.50% and the QE should remain unchanged too. After three bullish days for the GBP today the U.S. data should be crucial for the further development. If the data are in the range of forecasts, the U.S. dollar should make up some ground in the afternoon.
Long: > 1,5628
S/L: 20 Pips
TP: 30 Pips
Trailing Stop: 20 Pips
Short: < 1,5592
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 25 Pips
USD/JPY
The BoJ turns off the tap on and on pumps, in the next 2 years, the equivalent of over 1,3 trillion $ to stimulate growth in the market. This is in exact contrast to the expected submission of the Fed and the rate of the U.S. dollar against the yen should rise again.
Long: > 101,05
S/L: 25 Pips
TP: 50 Pips
Trailing Stop: 25 Pips
Short: < 99,58
S/L: 25 Pips
TP: 35 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.