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In the Zone
- GBPUSD
- NZDUSD
- USDCAD
Market Insight Commentary – Forex
Today's News Headlines
- It has been reported last night has instructed advisor Kudlow to get the deal on TPP done. Umm – is this not the same deal he pulled out of last year?
Market Insight Commentary – Indices
Market Recap
The markets continue to trade on geopolitical concerns as the market remains confused as to whether the apparently imminent strike in Syria will actually happen – maybe Trump has changed his mind again. There are comments that Trump was studying 8 different sites as to where to launch a retaliatory missile attack, this will remain a risk in the trading day.
The EURUSD moved below the 200 hour MA at 1.2303 but the pair bounced on 1.2300 shortly afterwards. The 100 hour MA is trading at 1.2335 currently and this will become a big level to watch today, this will become the upside resistance – if the bears want to take control then they will need to stay below these levels.
The USDJPY continually makes new highs this week as the pair broke through the Tuesday high at 107.40, we are still very much in a bullish bias as long as price remains above 107.00 and a break above 107.50 will send this pair soaring higher.
I am cautiously watching the cable this morning, the 1.4240 level represents the 200 week MA and this level has not been broken since October 2014. This could be a nice trade to watch today.
Important Economic Data Due Today
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