INTERNATIONAL CURRENCY BUZZ
- Forex – Aussie, kiwi fall vs. greenback after downbeat data.
- Forex – Aussie, Kiwi slightly down in Asia after data sets, Yellen eyed.
- Forex – Kiwi weaker as trade disappoints, Yellen remarks key this week.
EUR/USD is currently trading with a bearish bias. Yesterday, the pair traded long as previously forecasted but ended up forming a perfect pin bar on the daily chart. We expect this previous day’s candle to culminate into a bearish reversal. Thus, during this intraday, we anticipate a massive rally to the lower side and could close below 1.1222. This pair should be traded alongside NZD/USD, GBP/USD, and AUD/USD. These pairs have a strong positive correlation of up to +0.92 and will have a similar price action during this intraday.
GBP/USD is currently trading with a neutral bias to either sides of the market. Unless there is a clear breakout below 1.3176 or above 1.3205 we choose to remain flat for now.A clear breakout above 1.3205 will lead to a possible bullish price rally towards 1.3345 while a clear breakout below 1.3176 will culminate into a bearish price rally towards 1.3134. This pair should be traded alongside GBP/CHF, GBP/JPY, GBP/CAD and GBP/NZD.These pairs have a strong positive correlation of up to +0.90 and will have a similar price action duing this intraday.
- BUY GBPUSD ABOVE 1.3245 TGT 1.3265 1.3295 SL 1.3215.
- SELL GBPUSD BELOW 1.3160 TGT 1.3140 1.3110 SL 1.3190.