Morning forex report
The USD fell away on the softer than expected Philly Fed survey on Thursday which at -24 was much softer than the -10 that had been expected. The USD tumble is a touch surprising as this series is a bit whippy, and the manufacturing side of the economy is not that large compared to services. Still, the break of $1.4740 in the EUR/USD is worth watching and if this continues then $1.4950/1.50 is at risk for a bigger breakout to $1.60. While possible, will leaning to a push towards $1.43 and lower instead, but given the persistent range trade of late, any break in any direction would be welcome? Which suggests that we may range trade for a while longer, sigh… The AUD and NZD could be leading the way by punching through key levels and holding above them. This leaves 0.94 open for parity in the AUD, 0.81 open for 0.85 and higher in the NZD. Again, not really favoring new all time highs vs. the USD, but this has been tough to turn around… The GBP found a new life on the better than expected retail sales figure on Thurs., favoring 0.75 to give way for a push towards 0.7440 and lower, while Cable should try and work towards $1.97 and even $1.98. Selling at the latter should attract so… In the yen? 108 was lost, 107 is at risk for 105.70 and lower. While the tumbling stock markets may drag on the USD here, favoring a basing play for 112/114, see if support at 107 can hold… Trades? Still like EUR/CHF bottom fishing for 1.64, but the reversal yesterday from 1.6220+ is worrying. NZD/CAD is still favored for 0.84 and higher, and GBP/AUD is probably worth eyeing given the see-saw action above key support – either this bases soon or…
Invest2forex.com accepts no liability whatsoever for any direct, indirect or consequential loss arising from the use of this report or its content. Any forecasts are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. This report is not to be construed as providing investment services in any jurisdiction where the provision of such services would be illegal. Nothing herein shall be construed as a recommendation to buy or sell any financial instrument or security. This communication prepared by leading forex broker is for information purposes only. Investors should also consider this report as only a single factor in making their decision to make currency investment.
Windows Virtual Private Server (Windows VPS) forex vps mt4 vps