Analysis for 21 August 2014
Yesterday was strong movement in the market, and the FOMC Stizung Minutes for July has again given buoyancy for the USD. Today again many data will be published, which can provide a strong movement in the foreign exchange market.
EUR/USD
The euro zone could not convince with good numbers last. Today, from the euro zone are different figures for publication, which stabilize the exchange rate of the euro, or can forward a tailspin. Yesterday, the mark of 1.33 against the USD was broken for the first time since 9 months and expected for today numbers are already behave pessimistic forecasted. The beginning at 09:00 clock makes France with the PMI numbers, and at 09:30 clock in Germany the numbers to Manufacturing and services PMI will be published. At 10:00 clock follow the figures for the PMI of the euro zone. Overall, a slight decrease to the previous values is expected and the forecasts will send the Euro further downhill.
At 08:30am the first data on the U.S. economy come with the figures on unemployment in the United States. Here sounded yesterday at the release of the FOMC minutes of cautious optimism by. At 10:00am follow the numbers to the existing sales of homes and the Philadelphia Fed manufacturing index. Here, although a slight decrease is expected, which should be taken into account, however, already in the courses, so that only a rough miss the forecasts should have a negative influence on the current strength of the USD.
Long: > 1,3285
S/L: 25 Pips
TP: 40Pips
Trailing Stop: 25 Pips
Short: < 1,3245
S/L: 25 Pips
TP: 35 Pips
Trailing Stop: 25 Pips
GBP/USD
The British pound spent the last two days on a downward slide. Become predictions to today's data misses can still accelerate. The values of yesterday agree rather pessimistic, as cautiously positive.
Long: > 1,6630
S/L: 20 Pips
TP: 30Pips
Trailing Stop: 20 Pips
Short: < 1,6540
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.
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.