USD
Supported by decreasing Jobless claims which currently
is at a decade low, the USD is set to test its yearly high at 12,306 (FXCM
Dollar Index) on an outlook of an interest rate hike by a hawkish Federal
Reserve this coming December; and even though consumer sentiment and retail
sales may have disappointed dollar bulls, these reports will at best only offer
a retrace in the Dollar Index to the 12,050 level.
AUD/USD
With a Hawkish outlook on the FED in December, the
disappointing Consumer Sentiment will at best provide a short lived rally to
0.7640 until the bears take control pushing this pair down to its 89-EMA.
Trade: Entry to Buy @ 0.7610 with T/P @ 0.7640 and S/L @
0.7595
NZD/USD
With continued dollar strength and the Kiwi’s weakness
on the decline of the dairy auction price, the pair on the weak consumer
sentiment data may offer a retracement to the 0.7200 level before commencing
the sell-off to test the 0.7000 psychological support level.
Trade 1: Entry to buy @ 0.7100 with T/P @ 0.7180 and S/L @
0.7065
Trade 2: Entry to sell @ 0.7195 with T/P @ 0.7020 and S/L @
0.7265
EUR/USD
Although Euro data has been positive lately, the
weakness in the banking sector still hangs like an axe over the Eurozone. At
best the Euro Dollar will consolidate between the 1.1100 and 1.1000 before
breaking out to the downside to retest the 1.0900 level.
Trade 1: Entry to sell @ 1.1095 with T/P @ 1.1010 and
S/L @ 1.1130
Trade 2: After trade 1 completes Entry to sell @
1.1095 with T/P @ 1.0910 and S/L @ 1.1160
USD/CAD
The Canadian dollar usually has delayed reactions to
fundamental releases; and the change in employment from the previous week was
strongly positive, and amidst rising oil prices, the Canadian dollar just may
outperform the USD.
Trade: Entry to sell @ 1.3195 with T/P @ 1.3015 and
S/L @ 1.3255
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