Week Ahead December 25 – 29
EURUSD pair closed last week’s trading session higher on mixed economic release from both the EU and the US. From the US side the lower gross domestic product number adding more pressure on future rate cut by the FED and this kept US dollar lower. For the EU side the CPI came out at the same levels showing signs of stabilizing. With all the above said the pair continues trade higher following last week’s FED’s signal on interest rate cuts.
As for this week, traders and investors will be more relax and trade the low volatile. Short weeks ahead of Christmas holidays and new year holidays will highlight the low volatility and the lack of liquidity in the markets. This although, need extra attention as can move prices on either direction without any warning due to the lack of liquidity.
On the economic calendar we have nothing to follow as bank holidays will keep markets muted.
Technically the picture is positive after last week’s close above (61.8%) at 1.1012 In this week’s trading session if pair continues on the upside could test 1.1270 (100%) If resumes on the downside it will retest 1.0960 (61.8%) Our traders are short at 1.0966 (61.8%) targeting profits at 1.0760 We are expecting more aggressive short positions on the way up and new long positions at 1.0860 (50%)
GBPUSD pair closed last week’s trading session marginally higher on mixed economic releases from both sides the US and the UK. The lower than expected gross domestic product from the US added downside pressure on US Dollar as it fueled interest rate cut expectations. Although rally in the pair did not last long as the CPI in the UK came out lower than expectations and this will add pressure on BOE to change their future monetary policy.
As for this week, traders and investors will be more relax and trade the low volatile. Short weeks ahead of Christmas holidays and new year holidays will highlight the low volatility and the lack of liquidity in the markets. This although, need extra attention as can move prices on either direction without any warning due to the lack of liquidity.
On the economic calendar we have nothing to follow as bank holidays will keep markets muted.
Technically the pair’s overall picture is positive after last week’s close just below (61.8%) at 1.2697 As for this week, if pair continues on the upside, a break and close above (61.8%) will accelerate gains and open the road for 1.3126 Alternative, if resumes on the downside, will retest 1.2596 (50%) Our traders stay with short positions at 1.2723 targeting profits at 1.2500. We are expecting more aggressive short sellers above 1.2900 targeting profits at 1.2500 and long positions at 1.2460 targeting profits at 1.2825
Pour un calendrier économique plus détaillé, veuillez consulter notre calendrier économique en direct sur :
https://tentrade.com/economic-calendar/
*The material does not contain an offer of, or solicitation for, a transaction in any financial instruments. TenTrade accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. Pas de représentation Aucune garantie n'est donnée quant à l'exactitude ou à l'exhaustivité de ces informations. Par conséquent, toute personne agissant sur la base de ces informations le fait entièrement à ses risques et périls. à leurs propres risques. Les CFD sont des produits à effet de levier. La négociation de CFD peut ne pas convenir à tout le monde et peut entraîner la perte de la totalité du capital investi ; assurez-vous donc de bien comprendre les risques encourus.