European Union EUR, 10:00 a.m. GMT, CPI (YoY) (Dec) P – preliminary CPI for the month of December is expected to be slightly lower at 1.4% versus 1.5% from last’s year’s reading. The Consumer Price Index measures the change in the price of goods and services from a consumer point of view. If today’s reading
EURUSD, Daily timeframe Bias: Pair in Uptrend As you can see the pair respected the resistance level at 1.2065 that we’ve been discussing. Yesterday, the euro weakened against the dollar by 50 pips. The reason for the drop came from the U.S. and the ISM Manufacturing index coming out better than expected at 59.7 for
United Kingdom GBP, 09:30 a.m. GMT, Services PMI (Dec) – the index measures activity levels of purchasing managers in the Services Sector. Projections are for an increase at 54.1 for the month of December compared to 53.8 for the previous period. This is a high-impact event for the pound and if the actual news is strikingly
EURUSD, Daily timeframe Bias: Pair in Uptrend Yesterday, we had a bullish Tuesday in the euro with the pair advancing over 50 pips. Interestingly, the target level at 1.2065 was reached but price also pulled back from the level. We’re yet to see if this is a resistance level. Scenario 1: In the probability where
Bitcoin The cryptocurrency received a huge vote of confidence from venture capitalist and PayPal cofounder, Peter Thiel. The billionaire and early Facebook investor has bought millions of dollars in Bitcoin as reported by the Wall Street Journal on Tuesday. The venture capital firm is purported to have bought between $15 to $20 million in bitcoin.
EURUSD, Daily timeframe Bias: Pair in Uptrend The most traded and most liquid pair continues to rise and on Tuesday morning is reaching out toward the immediate target and resistance level at 1.2065. Importantly, we had a massively bullish week with the pair gaining over 130 pips. The strategy is to ride the established trend,
Japan, All Day Holiday, Japan Exchange Holiday New Zealand, All Day Holiday, New Year’s Day Switzerland, Holiday, Berchtold’s Day China CNY & AUD, 01:45 a.m., Caixin Manufacturing PMI (Dec) – a leading indicator of the entire economy providing an overall view of activity in the manufacturing sector. Since the Australian economy is heavily dependent on
EURUSD, Daily timeframe Bias: Pair in Uptrend We’re in the second consecutive week of bullish price action. The most traded pair is pushing its way up and is now beyond the 1.1900 level. As traders, it’s always useful to switch to larger timeframes in order to have a view of the big picture. This is