Forex-dollar Little Changed As Hopes For U.s. Budget Deal Rise Slightly

Angela Merkel has now been leading as chancellor since April 2000, which is a significant period of time, though not as long as Ben Bernanke’s chairmanship at the Federal Reserve. Bernanke will be leaving the Fed in January, and Janet Yellen is tipped to be the new Chairman. As Yellen’s policies lean towards favouring easing, some analysts predict that the Fed will decide not to taper QE this week after all. Another key theme to watch out for this year is Mark Carney’s recently appointed governorship at the Bank of England. So far it would seem that Carney is following a similar policy to the Fed by linking interest rates to unemployment. He stated that current rates will not be altered until unemployment falls below 7%, which analysts predict will not happen until 2016.

In the financial markets though, there remains confidence in the prospects of another emergency agreement, possibly minutes before the deadline. The Australian dollar currently presents as indifferent to the disappointing Final HSBC China Manufacturing PMI, reported at 02.45 BST today. The current-monthas reading checked in at 50.2, falling short of the initial estimate of 51.2 though marginally stronger than Augustas 50.1. Traders in the AUD/USD will want to compare that reading with the official Chinese PMI release due out at 02.00 BST tomorrow, with current expectations for improvement to 51.6 from Augustas 51.0. Currently the Australian dollar is changing hands at or about 0.9336, up 0.32 percent intraday. Levels of resistance today: 0.9351, 0.9378 and 0.9405.

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Forex Strategy: Holding EUR/GBP and AUD/USD Trades

Paul Ebeling is best known for his work as writer and publisher of The Red Roadmasters Technical Report on the US Major Market Indices, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984. Latest posts by Paul Ebeling ( see all ) Sitemap Copyright and All Rights Reserved. Information and opinions contained on this page are for educational purposes only and do not constitute trading recommendations. Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors.

Forex Trading At Favorable Pricing

Below we can see a Stochastic oscillator in use on the daily chart. Trader will wait for momentum to turn bullish after the %k line returns from an oversold value beneath 20. The objective is to buy into an existing uptrend, at the lowest possible price. This way the Swing trader is ready to sell high, when their profit projections are met.

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