• After a tulmultuous week, the Euro is holding Thursday’s gains. Friday saw an attempted pullback, but the EUR/USD has gapped higher at the open to push things higher again. The EUR/JPY saw similar movement, while the EUR/GBP is the one Euro pair to show serious reversal.
• Meanwhile, the US Dollar index is stuck in a bearish pattern, with more losses on Friday and no movement to speak of this morning.
• The Yen is down slightly this morning, with the USD/JPY stuck in a trading range and going nowhere for around a month.
Coming up today:
• It’s a quiet day on the economic front, with European industrial production the only item of note.
• Much later this evening, RBNZ governor Wheeler speaks at 19.00.
Trade Idea:
• China is still the elephant in the room with various indicators continuing to indicate a sustained economic slow down. The official line remains more upbeat and in the short term, things have not been a bad a previously feared (that or offical figures have been massaged to just the right levels).
• Still there is no denying the momentum seen in the AUD/USD and this could well carry over in the short term.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Euro Holding Gains
Morning Report: 06.30 London
• After a tulmultuous week, the Euro is holding Thursday’s gains. Friday saw an attempted pullback, but the EUR/USD has gapped higher at the open to push things higher again. The EUR/JPY saw similar movement, while the EUR/GBP is the one Euro pair to show serious reversal.
• Meanwhile, the US Dollar index is stuck in a bearish pattern, with more losses on Friday and no movement to speak of this morning.
• The Yen is down slightly this morning, with the USD/JPY stuck in a trading range and going nowhere for around a month.
Coming up today:
• It’s a quiet day on the economic front, with European industrial production the only item of note.
• Much later this evening, RBNZ governor Wheeler speaks at 19.00.
Trade Idea:
• China is still the elephant in the room with various indicators continuing to indicate a sustained economic slow down. The official line remains more upbeat and in the short term, things have not been a bad a previously feared (that or offical figures have been massaged to just the right levels).
• Still there is no denying the momentum seen in the AUD/USD and this could well carry over in the short term.
A good way to play this is a HIGHER trade predicting that the AUD/USD closes above 0.7600 in 10 days time for a potential return of 138%.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
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