Australia AUD, 03:30 a.m. GMT, RBA Interest Rate Decision– a major catalyst for action for the Australian dollar will be the interest rate decision in the early hours of the day. Analysts project no change and for the rate to remain at 1.50% for the month of November, same as for the previous period. If,
EURUSD, Daily timeframe Bias: Pair in Uptrend On Monday, there wasn’t much activity from the major pair. However, there is something important happening. Price seems to be testing the 1.1600 but I pushes up from the area refusing to drop further. In the following scenarios, we’re looking at potential developments. The strategy as you know
Germany EUR 07:00 a.m. GMT, German Factory Orders (MoM) (Sep) – this leading indicator of production measures the change in the value of total orders placed by manufacturers for durable and non-durable goods. Expectations for the month of September point to a significant decrease in orders at -1.5% compared to 3.6% for the previous month.
EURUSD, Daily timeframe Bias: Pair in Uptrend On Friday, the pair halted at the 1.1600 area. This is an interesting place to be at. We would have to await price action and see whether the area will be respected. A respected area would be one where price moves away from in positive direction, in our
Japan is off for the day celebrating a Culture Day and will join the rest of the exchanges on Monday. United Kingdom GBP 09:30 a.m. GMT, Services PMI (Oct) – a leading indicator of the overall economy, the Purchasing Managers’ Index measures activity level of managers in the Service Sector. A level above 50 speaks
EURUSD, Daily timeframe Bias: Pair in Uptrend The pair is consolidating between the 1.1600 area and the resistance at 1.1700. Yesterday, there wasn’t much change price action with only 31 pips up. We’d be looking for levels to potentially go long from. Keep in mind that today we have the Nonfarm payrolls due from the
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Germany EUR 08:55 a.m. GMT, German Manufacturing PMI (Oct)- a leading indicator of overall economic performance, the index measures the level of activity of purchasing managers exclusively in the manufacturing sector. Projections for November show no change at 60.5, same as in October. If the news coming out is better than projections, this should be