Forex-Analysis for 23 September 2013

EUR/USD
The electoral success of the CDU in Germany could have a positive impact on the euro because it promises continuity in German economic policy.
The most required data for the pair today come from the euro-area. At 02:28 h the French and at 03:28 h the manufacturing PMI and services PMI will be published for Germany and the whole euro-area. For all values the forecasts see a slight increase. At 09:00 h the hearing shall be by ECB President Mario Draghi instead about the ECB quarterly report to the Economic and Monetary Committee of the European Parliament.
The most important events in the USA should be the speeches of NY Fed President Dudley at 09:30 h at Fordham Wall Street Council  and at 13:30 h  Dallas Fed President Fisher ´s speech in San Antonio.

Long: > 1,3551
S/L: 25 Pips
TP: 40Pips
Trailing Stop: 25 Pips

Short: < 1,3495
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 25 Pips

GBP/USD
From the United Kingdom today are no data. The USD on Friday could offset some of its losses after the Fed decision and may continue to do so today. Overall, however, is more of a sideways movement expected.

Long: > 1,6058
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 20 Pips

Short: < 1,5967
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 25 Pips

AUD/USD
Also from Australia, no messages are expected if the newly elected Prime Minister Tony Abbott does not provide for a surprise today.

Long: > 0,9448
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 25 Pips

Short: < 0,9393
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 25 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. Also be reminded at the possibility to take part of the benefits in a positive trade.

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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.

 

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