Forex Analysis for 30 August 2014
The market calmed down over holidays, and on Friday it moved mostly sidewards. On Monday no important data are expected in the global market, so let's see, what the market could do after the weekend news and under technical aspects.
EUR/USD
The euro is one of the big loosers in 2014, and this was also shown on Friday, when the european common currency fell to the lowest rate against the USD, since August 2012, with 1,2181 US-dollar. There are no signs for a fast recovery of the euro, and investors are waiting for a larger assets purchase program in early 2015, maybe in January. With this background itis more likely, the euro falls below the 1,21 USD mark, then it could gain in the next weeks. Currently there is a resistant at 1,2168 USD, but if this falls significantly, the way downwards is open.
Long: > 1,2207
S/L: 25 Pips
TP: 35Pips
Trailing Stop: 25 Pips
Short: < 1,2150
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 25 Pips
USD/JPY
The japanese Yen is the other big loser in this ending year.While the japanese gouverment ist pumping money in the national economy, they are still waitng for success, and on the weekend the gouverment published a further promgram, involving 3,5 billion Yen. This could be a further step for the US-dollar, to the High from june 2006, with 124 Yen per USD.
Long: > 120,57
S/L: 25 Pips
TP: 50Pips
Trailing Stop: 25 Pips
Short: < 119,90
S/L: 20 Pips
TP: 30 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. 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.