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Forex market reviews

20 December 2016

Market sessions

Tomasz Wisniewski

Daily analytical report (20/12/16)

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USD strengthening all round, gold to test its 1100 USD/oz support.
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Media reviews

Tina Pham

Dollar climbs as attacks subdue euro, BOJ saps yen (news:20/12/16)

The dollar climbed back towards a 14-year high on Tuesday as the yen fell after the Bank of Japan held policy steady and fallout from attacks in Germany and Turkey subdued the euro.
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Market sessions

Gabriel Ojimadu

Dollar rises after Yellen speaks

On Monday the euro/dollar closed down. The buyers didn’t manage to hold at 1.0415. After Yellen spoke, the euro fell to 1.0393. The Fed chief announced that employment growth in the country was at its highest for the past ten years. Her announcement was taken by traders to mean that the regulator plans to raise interest rates further in 2017.
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19 December 2016

Media reviews

Tina Pham

Futures slightly higher ahead of Yellen speech (news: 19/12/16)

U.S. stock index futures were slightly higher on Monday as investors awaited a speech by Federal Reserve Chair Janet Yellen, less than a week after the Fed raised interest rates for only the second time since the financial crisis.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX NZD/USD – bull speculation: bounce from the support with a subsequent drop

Trading opportunities for currency pair: Last week the NZD departed channel 2 and fell to the lower limit line of channel 1 and channel 3. The support is a strong one, so we can consider movement against a bearish trend from the lower line of channels 1 and 2, with a target of up to 0.7240. It would be better to put a Sell Stop order at the stop level with a target of 0.6744 so that the long position doesn’t close and a short one opens. A close of the week above 0.7083 will be a good sign for the buyers. We could also avoid entering into any long positions and work using the down trend with targets of 0.6744 and 0.6672. For long positions against the trend we can reduce the lot we’re working with.
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