Forex Analysis for 02. Januar 2015
Holidays are over and the first trading day in this year comes with some important date from UK, the euro area and the US-economy.
EUR/USD
In the euro area and the United States some PMI data are being published today. While the Us-economy seems to be on the best way to recovery, the Euro Area is still struggeling, and the returning Greek promblems are not a positve impusle for the common currency, and the euro fell below the mark of 1,21 US-dollar at the last day in 2014, but closed sligtly above this.
Long: > 1,2140
S/L: 20 Pips
TP: 30Pips
Trailing Stop: 20 Pips
Short: < 1,2070
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 25 Pips
GBP/USD
The British Pound rose a bit against the USD an Wednesday, and the upcoming dat will sow, if it could continnue this way.
Long: > 1,56220
S/L: 25 Pips
TP: 35Pips
Trailing Stop: 25 Pips
Short: < 1,5541
S/L: 25 Pips
TP: 40 Pips
Trailing Stop: 25 Pips
USD/JPY
The yen benefited from the falling oil price and the weak stock markets, there are no positive signs from the japanese economy, so it is likely the US-Dollar will rose again against the yen.
Long: > 120,05
S/L: 25 Pips
TP: 40Pips
Trailing Stop: 25 Pips
Short: < 119,13
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.