The economic calendar heats up in European trading hours. The European Central Bank will deliver its monthly policy announcement.
HEADLINE
Euro May Rise on Neutral ECB, Pound at Risk on Carney Comments
Volatility Risk High For EUR/USD Ahead Of ECB, GBP/USD With BoE
Dollar Appeal Rising After Biggest Stimulus Drop In 4 Years
Euro May Rise on Neutral ECB, Pound at Risk on Carney Comments
The economic calendar heats up in European trading hours. The European Central Bank will deliver its monthly policy announcement. Mario Draghi and company are not expected to offer any changes to the current framework this time around but the markets appear see the possibility for some verbal intervention to emerge in the press conference following the rate decision to talk down the recently buoyant Euro. The ECB President seems unlikely to overstep the bank’s mandate and dip into exchange rate policy however. Indeed, a strong currency and its negative implications for exports and broader economic growth ultimately falls outside of the ECB’s strict focus on price stability alone. Still, expectant markets primed for a dovish turn in rhetoric may respond to its absence as de-facto hawkish and bid up the single currency.
TRADING TIPS
• SELL EURUSD
ABOVE 1.3577
tgs 1.3597/1.3617
sl 1.3557
• BUY USDJPY
ABOW 93.91
tgt 94.05/94.19
SL 93.71
• BUY GBPUSD
BELOW 1.5645
tgt 1.5631/1.5617
SL 1.5659
ANALYSIS
HOURLY EURUSD CHART
OPEN: 1.3521
HIGH: 1.3577
LOW: 1.3504
CLOSE: 1.3563
• EURUSD LOOKS UPWARD
• TREND : BULLISH
• STRATEGY: BUY ON DEEPS
• MACD =>. -0009(BULLISH SIGNAL)
• RSI => 40(BULLISH SIGNAL)
ANALYSIS
HOURLY USDJPY CHART
OPEN: 93.43
HIGH: 93.92
LOW: 93.30
CLOSE: 93.83
• USDJPY LOOKS UPWARD
• TREND: BULLISH
• STRATEGY: BUY ON DEEPS
• MACD => 0002( BULLISH SIGNAL)
• RSI =>58(BULLISH SIGNAL)
ANALYSIS
HOURLY GBPUSD CHART
OPEN: 1.5663
HIGH: 1.5768
LOW: 1.5645
CLOSE: 1.5704
• GBPUSD LOOKS DOWNWARD
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD => .0005( BEARISH SIGNAL)
• RSI => 49(BEARISH SIGNAL)
HOURLY EURGBP CHART
OPEN: 0.8632
HIGH: 0.8663
LOW: 0.8597
CLOSE: 0.8637
• EURGBP LOOKS UPWARDS
• TREND: BULLISH
• STRATEGY: BUY ON DEEPS
• MACD =>.007(BULLISH SIGNAL)
• RSI =>49(BULLISH SIGNAL)
HOURLY USDINDEX CHART
OPEN: 79.7420
HIGH: 79.8160
LOW: 79.5390
CLOSE: 79.5940
• USDINDEX LOOKS UPWARD
• TREND: BULLISH
• STRATEGY: BUY ON DEEPS
• MACD =>0.0125(BULLISH SIGNAL)
• RSI =>64(BULLISH SIGNAL)
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