Forex Analysis for 22 August 2014

Today, there are, apart from the figures on consumer prices in Canada, no major figures in, but there may come to strong movements in the market, regarding the USD and the EUR. At 10:00 am speaks the Chair of the Fed, Janet Yellen, and at 04:00 pm the chairman of the ECB, Mario Draghi. The speeches of the chairman of the central banks are always followed with great attention, as they often give indications about the future course of monetary policy by central banks, which, if they occur in the speeches, will also immediately reacts on the market.

EUR/USD

Long: > 1,3310
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

Long: > 1,6620
S/L: 20 Pips
TP: 40Pips
Trailing Stop: 20 Pips

Short: < 1,6548
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.