• This morning, the Australian dollar is the early mover after a positive reaction to China’s reform blueprint. The NZD/USD has caught the best wind here, up 0.53%.
• It’s not a universally positive start to the day though as stock markets trade lower slightly and the dollar index dips below its short term moving average.
• The yen pairs are under pressure, with the USD/JPY off by 0.21%.
Coming up today:
• Coming up today we have European current account data, Canadian foreign securities purchases and TIC long term purchases.
Trade Idea:
• The EUR/JPY is pulling back this morning from overhead resistance, a move that has all the classic hallmarks of a resistance rejections. However, this move does appear a little too good and given the lack of top tier economic data today, it wouldn’t be too surprising to see this move reverse on itself.
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
China reform blueprints boost Aussie
Morning Report: 08.45 London
• This morning, the Australian dollar is the early mover after a positive reaction to China’s reform blueprint. The NZD/USD has caught the best wind here, up 0.53%.
• It’s not a universally positive start to the day though as stock markets trade lower slightly and the dollar index dips below its short term moving average.
• The yen pairs are under pressure, with the USD/JPY off by 0.21%.
Coming up today:
• Coming up today we have European current account data, Canadian foreign securities purchases and TIC long term purchases.
Trade Idea:
• The EUR/JPY is pulling back this morning from overhead resistance, a move that has all the classic hallmarks of a resistance rejections. However, this move does appear a little too good and given the lack of top tier economic data today, it wouldn’t be too surprising to see this move reverse on itself.
• A good way to play this could be a ONE TOUCH trade predicting that the EUR/ JPY will touch 135.75 by tomorrow’s close for a potential return of 128%.
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
Summary:
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