Week Ahead December 5th – 9th
FUNDAMENTOS Y ASPECTOS TÉCNICOS DEL EUR/USD
Pair closed last week’s trading session higher on softer than expected US inflation. US dollar selloff continued during last week’s trading session as inflation number came out lower than expectations signalling that the pick is over. Inflation outcome together with FED’s officials’ dovish comments and a clear dovish stance from FED’s Powell highlighting softer interest rates ahead, help the pair to continue on the upside. Just before the end of last week’s session, the better than expected non-farm payrolls did not managed to keep the US dollar on the upside. After a short-lived initial reaction on the downside the pair fully recover and now preparing for more gains.
As for this week market participants will mainly focus on the economic calendar. Without any scheduled central banks’ officials’ speeches, the market will be solely depended from the economic releases. Russia’s president Putin future stance on Ukraine will defy whether EU’s geopolitical turmoil will finally come to an end. Even though Biden’s invitation for direct talks was rejected, all leaders are on standby and hoping for Russian’s new proposal.
En el calendario económico, tenemos el lunes, las ventas minoristas europeas apuntan al alza en 2.7% y el ISM de servicios de EE.UU. PMI más alto en 55.6 El miércoles, el producto interior bruto europeo se mantiene sin cambios en 2.1% El viernes, el sentimiento del consumidor de EE.UU. Michigan se espera más bajo en 53.3
Technically the picture is positive after last week’s close firm above 61.8% and breaking above last week’s 1.0500 In this week’s trading session if pair continues on the upside could accelerate gains to full recovery of 100% 1.0750 Alternatively, if pair resumes the downside we are expecting to retest 1.0300 (61.8%). Our traders are short at 1.0500 targeting profits at 1.0300 we are expecting more aggressive sellers at 1.0600 Alternative if pair retreats on the downside we are expecting buyer at 1.0300 targeting profits at 1.0600
FUNDAMENTOS Y ASPECTOS TÉCNICOS DEL GBP/USD
Pair closed last week’s trading session higher on continuing US Dollar’s selloff. The dovish speech of FED’s Powell highlighting softer interest rates ahead and the lower than expected inflation number in the US pushed the US Dollar lower. The deteriorating US economic releases and the lack of any high impact events in the UK helped the pair to maintain a positive bias.
As for this week market participants will focus only on the economic releases from both sides. The lack of any central banks’ officials’ speeches will let the pair on the mercy of market participants.
En el calendario económico tenemos el lunes el PMI compuesto del Reino Unido apuntando a 48,3 y el PMI de servicios ISM de EE.UU. apuntando al alza en 55,6 El martes, las ventas minoristas BRC Like-for-Like del Reino Unido esperadas en 1,2% El viernes, el sentimiento del consumidor de Michigan de EE.UU. esperado a la baja en 53,3
Technically the pair is positive as the pair closed above 100% registering new higher level. In this week’s trading session if pair manages to continue on the upside, will keep the overall picture positive and could open the road to more recovery up to 1.2500 Alternatively a reversal on the downside and a break below (100%) could retest 1.1750 (61.8%) Short sellers are standing firm between 1.1600 and 1.2300 targeting profits around 1.1738 we are expecting new buyers around 1.1800 targeting profits above 1.2100 The pair entered an overbought territory and needs extra caution as a sharp downside correction could be around the corner.
Para conocer con más detalle los acontecimientos del calendario económico, visite nuestro calendario económico en directo en:
https://10tradefx.com/economic-calendar/
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