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MARKET NEWS

 

Forex majors: orders levels

 

Orders of the large players

 

EUR/USD: offers at 1.2400, 1.2415/20, 1.2435/40, 1.2450;

 

USD/JPY: bids at 118.75/80, 118.40 and offers at 119.40/50, 119.65/70;

 

EUR/JPY: bids at 147.15/20, 147.00 and offers at 148.20, 148.40/50, 148.75/80;

 

USD/CHF: bids at 0.9690, 0.9700/10 and offers at 0.9735/40, 0.9750, 0.9765/70;

 

AUD/USD: offers at 0.8465/70, 0.8500/10;

 

USD/CAD: bids at 1.1360, 1.1320/30 and offers at 1.1430/40, 1.1460/65, 1.1470;

 

EUR/CHF: bids at 1.2025/30, 1.2015/20 and offers at 1.2045/50, 1.2055/60, 1.2065/70.

 

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Danske Bank: trade signals for Dec. 3

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.2460, Take Profit 1.2289, Stop Loss 1.2510

 

USD/JPY: Hold LONG at 118.15, Take Profit 120.00, Stop Loss 118.01

 

GBP/USD: Hold LONG at 1.5690, Take Profit 1.5826, Stop Loss 1.5600

 

USD/CHF: Hold LONG at 0.9635, Take Profit 0.9790, Stop Loss 0.9614 (revised)

 

EUR/JPY: Hold LONG at 147.00, Take Profit 149.56, Stop Loss 147.05  (revised)

 

EUR/GBP: Hold SHORT at 0.7955, Take Profit 0.7799, Stop Loss 0.8010

 

EUR/CAD: Hold LONG at 1.4135, Take Profit 1.4340, Stop Loss 1.4015

 

GBP/JPY: Hold LONG at 185.50, Take Profit 188.50, Stop Loss 185.00  (revised)

 

NZD/USD: Hold SHORT at 0.7855, Take Profit 0.7712, Stop Loss 0.7930

 

Trade ideas:

 

USD/CAD: BUY at 1.1360, Take Profit 1.1531, Stop Loss 1.1309

 

EUR/CHF: BUY at 1.2029, Take Profit 1.2082, Stop Loss 1.2007

 

_______________________________________________

 

* Danske Bank applies trailing stop oreders (moved together with the price)

 

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Forex Analytics

 

Forex trading plan for Dec. 4

 


 

EUR/USD hit a multi-month low of 1.2320 in the European trade on the softer-than-expected euro zone’s PMI in the Services sector and retail sales data. Daily close below the recent low of 1.2360 would confirm the current bearish move and open the way for a move lower, to the 1.2250/00 area. Markets stay bearish on the euro ahead of the ECB meeting on Thursday – some players expect Mario Draghi to announce a full-scale QE tomorrow.

 

GBP/USD has once again found support above 1.5600. The pair is supported by a sell-off in EUR/GBP. Still, the efforts of the bulls will likely be constrained because of the general strength of the US dollar. The pair’s consolidating in a triangle ahead of this week’s big events – the Bank of England’s meeting on Thursday and the US NFP on Friday. Resistance is at 1.5710 ahead of 1.5830/50. Sterling’s advance will likely be limited as the BOE will keep rates unchanged worrying about the negative effects from the euro area. A break below 1.5600/5585 will open the way to 1.55 and lower.

 

USD/JPY showed a bullish close on Tuesday. The pair’s trading just below 119.50. Next levels to watch on the upside are at 119.85 and 120.00. Support is at 118.20 and 117.70.

 

AUD/USD has recovered some ground from the 0.8380 support, but remains far below the 0.8500 resistance. Australian Q3 GDP was a strong disappointment for the market, strengthening the case for more ECB easing to come. Don’t miss Australian October retail sales and trade balance figures tonight at 00:30 GMT. Forecast for the retail sales is especially downbeat (+0.1% versus prior +1.2%).

 

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MARKET NEWS

 

Dec. 4: MARKET OVERVIEW

 

USD/JPY has almost reached 120.00: Japanese media (Yomiuri, Asahi and Nikkei newspapers and Kyodo News ) polls showed that Prime Minister Shinzo Abe’s coalition may keep its two-thirds majority in the lower house of parliament in general elections on Dec. 14.

 

USD is up as America released strong data: The Fed’sreport (Beige Book)showed businesses across the country are hiring workers in industries from aerospace to finance. Another positive sign is that private employers added 208K workers in Nov. (ADP employment report). Moreover, ISM non-manufacturing index rose to the second-highest level since August 2005.

 

GBP/USD is just below 1.5700 ahead of the Bank of England’s meeting results due at 12:00 GMT.

 

EUR/USD awaits the ECB meeting at the multi-month lows of 1.2300. Policy decision at 12:45 GMT will be followed by a press-conference at 13:30 GMT.

 

Australia released upbeat retail sales and trade data. However, AUD/USD touched fresh low of 0.8350 in Asia. 

 

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MARKET NEWS

4 December 2014

 

Key option levels

 

FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT). 

 

Here are the key options expiring today:

 

EUR/USD: 1.2265 (EUR 639m), 1.2300 (EUR 477m), 1.2350 (EUR 950m), 1.2400 (EUR 1.9bln), 1.2450 (EUR 2bln);

 

USD/JPY: 119.00 (USD 1bln), 119.75 (USD 350m), 120.00 (USD 2.1bln);

 

USD/CHF: 0.9640 (USD 210m), 0.9900 (USD 381m);

 

USD/CAD: 1.1365 (USD 670m), 1.1400 (USD 1.36bln);

 

AUD/USD: 0.8400 (AUD 275m);

 

NZD/USD: 0.7725 (NZD 525m);

 

EUR/JPY: 146.75 (EUR 450m), 148.50 (EUR 350m);

 

EUR/CHF:1.2030/40 (EUR 560m).

 

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Forex Analytics

 

Danske Bank: trade signals for Dec. 4

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.2460, Take Profit 1.2242, Stop Loss 1.2425

 

USD/JPY: Hold LONG at 118.15, Take Profit 120.75, Stop Loss 118.49

 

GBP/USD: Hold LONG at 1.5690, Take Profit 1.5826, Stop Loss 1.5615

 

USD/CHF: Hold LONG at 0.9635, Take Profit 0.9839, Stop Loss 0.9685

 

AUD/USD: Hold SHORT at 0.8566, Take Profit 0.8315, Stop Loss 0.8480

 

EUR/GBP: Hold SHORT at 0.7955, Take Profit 0.7799, Stop Loss 0.7950

 

EUR/CHF: Hold LONG at 1.2029, Take Profit 1.2082, Stop Loss 1.2007

 

NZD/USD: Hold SHORT at 0.7855, Take Profit 0.7660, Stop Loss 0.7930

 

Trade ideas:

 

USD/CAD: BUY at 1.1314, Take Profit 1.1531, Stop Loss 1.1224

 

EUR/CAD: SELL at 1.4050, Take Profit 1.3855, Stop Loss 1.4145

 

EUR/JPY: BUY lower

 

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Forex Analytics

 

Forex trading plan for Dec. 5

 

On Friday market attention will be glued to the US Non-Farm Payrolls release at 13:30 GMT. According to the forecast, the US economy created 231K new jobs in November (slightly more than in October). The figure will be crucial for all the currency pairs as it will impact Fed’s rate hike expectations. 

 

On Thursday EUR/USD has recovered a figure from the multi-month low of 1.2300 as the ECB announced no QE. According to Mario Draghi, ECB could alter stimulus measures in early 2015 if needed (not necessarily in January). Mario Draghi is clearly advocating new stimulus, so the overall picture for EUR/USD remains clearly bearish. On Friday watch the German Factory Orders data.

 

USD/JPY reached 120.15. The advance was fueled by the initial decline in EUR/USD. The market players are probably taking profit after such big target was hit. Support is at 119.50, 119.10 and 118.60. Resistance is at 120.20 and 121.00.

 

GBP/USD fell to 1.5640. The Bank of England left monetary policy unchanged. Pound is still above support at 1.5595/85. We expect more consolidation around 1.5675 ahead of the US NFP release.

 

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MARKET NEWS

 

Dec. 5: MARKET OVERVIEW

 

EUR/USD was sold on the post-ECB rallies on Thursday. Watch German Factory Orders data at 7:00 GMT.

 

USD/JPY: trading above 120.00. The US dollar is supported as economists predicted US job growth has quickened last month.

 

GBP/USD: failed to fix above 1.5700 yesterday and declined to 1.5623 driven by the stronger USD.

 

Markets await the US NFP data at 13:30 GMT (forecast: 231K; prior: 214K). Weaker-than-expected ADP NFP has set slightly pessimistic expectations on Wednesday.

 

Canada is also scheduled to release a bunch of data at 13:30 GMT (forecasts are mostly downbeat).

 

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MARKET NEWS

 

Key option levels

 

FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT). 

 

Here are the key options expiring today:

 

EUR/USD: 1.2300 (EUR 1.2bln), 1.2350 (EUR 1.3bln), 1.2400 (EUR 1.75bln), 1.2415 (EUR 557m), 1.2450 (EUR 1.3bln);

 

USD/JPY: 118.50 (USD 1.5bln), 120.00 (USD 550m), 121.00 (USD 702m);

 

AUD/USD: 0.8400 (AUD 486m);

 

USD/CAD: 1.1250 (USD 400m), 1.1280 (USD 760m), 1.1350, 1.1425/30 (USD 440m);

 

EUR/GBP: 0.7850, 0.7900. 0.8000.

 

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Forex Analytics

 

Danske Bank: trade signals for Dec. 5

 

Open positions:*

 

EUR/USD: Hold LONG at 1.2398, Take Profit 1.2575, Stop Loss 1.2338

 

USD/JPY: Hold LONG at 118.15, Take Profit 120.95, Stop Loss 119.10

 

GBP/USD: Hold LONG at 1.5690, Take Profit 1.5826, Stop Loss 1.5615

 

AUD/USD: Hold SHORT at 0.8566, Take Profit 0.8315, Stop Loss 0.8480

 

EUR/GBP: Hold SHORT at 0.7955, Take Profit 0.7799, Stop Loss 0.7950

 

EUR/CHF: Hold LONG at 1.2029, Take Profit 1.2082, Stop Loss 1.2007

 

GBP/JPY: Hold LONG at 185.50, Take Profit 189.90, Stop Loss 186.85

 

NZD/USD: Hold SHORT at 0.7855, Take Profit 0.7660, Stop Loss 0.7850

 

Trade ideas:

 

USD/CHF: Look to BUY at 0.9620/30

 

USD/CAD: Revised BUY at 1.1314, Take Profit 1.1531, Stop Loss 1.1224

 

EUR/JPY: Possibly BUY

 

EUR/CAD: Possibly BUY

 

_______________________________

 

*Danske Bank applies trailing stop orders (moved together with the price)

 

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Forex Analytics

 

Forex trading plan for Dec. 9

 

EUR/USD hit a new low of 1.2250 on Monday as the ECB member Nowotny warned on weak inflation and growth in euro zone. He echoed the ECB President Draghi, increasing the expectations of a full-scale QE in early 2015. There are not so many events to watch on Tuesday except for the French and German trade data. What's more, European finance ministers will meet in Brussels tomorrow. Tax on financial transaction will be in the centre of discussion. Markets are awaiting for the TLTRO auction that comes on Thursday and remain rather sceptical abour the euro's medium-term prospects. However, for now the 1.2250/00 area remains resistive. 

 

GBP/USD has recovered some ground from the 1.5550 low on Monday. The picture still remains negative for the cable with the Britain's manufacturing production data on the agenda on Tuesday (forecast - downbeat). USD/JPY gave back some ground too after hitting a record high of 121.80 in Asia. According to our forecast, there is room for a correction towards 119 yen in the coming days. 

 

AUD/USD gapped lower on Monday and touched 0.8270 in Asia, but the decline failed to sustain. The markets were disappointed by Chinese trade data: import shrank significantly. On Tuesday watch Australia NAB business confidence index. 

 


 

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MARKET NEWS

 

December 9: MARKET OVERVIEW

 

US dollar retraced lower versus all the currencies but AUD and NZD. Oil prices hit fresh five-year lows, leaving the other commodities pressured.

 

Australian dollar fell to the new low of 0.8220 as NAB report added concerns.NAB November business confidence came at 1 versus prior 5. What’s more, NAB calls for a much weaker Aussie and now forecasts 2 RBA rate cuts in March and August.

 

USD/JPY retraced to 119.70 on the back of the increased risk aversion. Most Asian equities and Nikkei were lower, what could have impacted the USD/JPY rate.

 

EUR/USD recovered to 1.2320. while GBP/USD – to 1.5655. Sterling awaits Manufacturing Production data at 9:30 GMT (forecast – downbeat). 

 

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Forex Analytics

 

Danske Bank: trade signals for Dec. 9

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.2320, Take Profit 1.2134, Stop Loss 1.2401

 

GBP/USD: Hold SHORT at 1.5615, Take Profit 1.5427, Stop Loss 1.5700

 

USD/JPY: Hold SHORT at 120.65, Take Profit 119.33, Stop Loss 121.65

 

USD/CHF: Hold LONG at 0.9760, Take Profit 0.9898, Stop Loss 0.9695

 

AUD/USD: Hold SHORT at 0.8566, Take Profit 0.8083, Stop Loss 0.8451

 

USD/CAD: Hold LONG at 1.1435, Take Profit 1.1680, Stop Loss 1.1379

 

EUR/GBP: Hold SHORT at 0.7955, Take Profit 0.7799, Stop Loss 0.7950

 

EUR/CHF: Hold LONG at 1.2029, Take Profit 1.2082, Stop Loss 1.2007

 

GBP/JPY: Hold LONG at 185.50, Take Profit 191.75, Stop Loss 187.20

 

NZD/USD: Hold SHORT at 0.7855, Take Profit 0.7599, Stop Loss 0.7735

 

Trade signals:

 

EUR/JPY: Look to SELL

 

EUR/CAD: Look to SELL

 

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MARKET NEWS

 

Dec. 10: MARKET OVERVIEW

 

US Dollar remains under pressure as investors are taking profits approaching the year-end – long positions have clearly become overstretched over the past weeks. USD/JPY remains under pressure, hovering slightly above the 119 mark. Markets are now discussing the increased political uncertainty in Greece. The country's government surprised the world by announcing a snap presidential vote beginning next week, on Dec. 17.

 

EUR/USD consolidates around $1.2380 following the yesterday’s rapid recovery to 1.2450. The pair approached the trend resistance that for now is limiting the bullish correction. Euro zone’s economic calendar for today is rather light with the French Industrial Production being the only event to watch. Markets await the targeted TLTRO and US retail sales data on Thursday. GBP/USD follows the euro and consolidates around 1.5680 as we speak. Watch the US trade balance at 9:30 GMT.

 

AUD/USD didn’t show a significant response to the weak Westpac sentiment data, but managed to recover above 0.8300 on Chinese PPI and CPI data that open the way for more stimulus in the region. NZD/USD recovered back above 0.7700. RBNZ holds its policy meeting at 20:00 GMT. The official cash rate will likely remain steady at 3.5%. 

 

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Forex Analytics

 

Forex trading plan for Dec. 11

 

EUR/USD faced resistance at 1.2450 on Tuesday (descending trend line), but remains supported on Wednesday. According to our forecast, the bearish pressure is about to resume in the coming sessions as markets await the ECB TLTRO auction that comes on Thursday. What's more, the Greek problems have returned into the limelight this week with the snap presidential elections beginning on Dec. 17. 

 


 

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MARKET NEWS

 

Dec. 11: MARKET OVERVIEW

 

The US dollar correction continued in Asia on Thursday, with EUR, GBP and CHF extending their recovery. The upside remains limited, however. USD/JPY has also pulled to a fresh low of 117.40, but the dips were quickly bought.

 

RBNZ left the interest rate unchanged at 3.50% and reviewed the growth forecasts to the upside. Kiwi dollar touched 0.7860 in the Asian trade.

 

AUD/USD spiked to 0.8370 as the employment data came out well above the forecasts (42.7K new jobs versus 15K expected).

 

Events to watch today:

 

-       SNB meeting

 

-       ECB TLTRO auction

 

-       US retail sales

 

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Forex trading plan for Dec. 12

 

On Friday the currency market will be influenced by Chinese industrial production data. The figure is expected to have slowed from 7.7% to 7.6%. If Chinese production has really slowed, pressure on the commodities – Aussie and kiwi dollars will resume. Aussie dollar could easily break below the current support of 0.8220.

 


 

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MARKET NEWS

 

Dec. 12: MARKET OVERVIEW

 

The overall demand for the US Dollar has recovered by the end of the week, supported by the upbeat November retail sales. Global markets remain concerned by Chinese economic slowdown. Data released on Friday showed industrial production growth fell from 7.7% to 7.2% in November. According to the fresh Business News report, China lowered its 2015 GDP growth target in work conference. These are the negative news for the commodity currency block. Meanwhile, Brent crude oit has hit a fresh 5 1/2 year low of $63 a barrel, bringing this week's losses to more than 8%. AUD/USD trade remains volatile, but the price holds around 0.8270 as we speak. NZD/USD dipped to 0.7700 before recovering some ground. There is a market speculation that the NZ dairy giant Fonterra sees reduced milk production in the year 2015. 

 

USD/JPY hovers around 118.90 in the Asian trade. Markets await Japanese parliamentary election on Sunday. The question is whether the ruling block has secured the absolute stable majority (above 266 seats) or not. 

 

There are not so many releases to watch in Europe today exept for the UK construction output and the euro zone's industrial production. Both forecasts are downbeat, so EUR/USD and GBP/USD could extend losses later in the day. 

 

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MARKET NEWS

 

Dec. 15: MARKET OVERVIEW

 

USD/JPY fell to 117.70 as yen strengthened on Japanese PM’s Abe strong victory on the election. After that the pair bounced back to 119.00, but not for long. Yen trade remains choppy. Meanwhile, the BOJ’s Q4 Tankan report revealed weakness in the manufacturing sector.  

 

AUD/USD dipped to a new 4 1/2-year low of $0.8204. According to the Australian government’s Mid-Year Economic and Fiscal Outlook, the 2014-15 budget deficit is now seen at $40.4 billion versus $29.8 billion expected.

 

Criminal incident in Australia, Sydney: at least one armed gunman took unknown number of Lindt cafe customers and staff hostage on Monday morning.

 

EUR/USD is trading under a slight bearish pressure below the 1.2500 mark. Markets await the Fed’s meeting on Wednesday. 

 

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MARKET NEWS

15 December 2014

 

Key option levels

 

FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT). 

 

Here are the key currency options expiring today:

 

USD/JPY: 117.50 (USD 754M), 118.80 (USD 1B), 120.00 (USD 665M), 121.00 (USD 1.1B)

EUR/USD: 1.2200 (EUR 1.2B), 1.2400 (EUR 1.5B), 1.2450 (EUR 730M), 1.2500 (EUR 3.0B)

GBP/USD: 1.6000 (GBP 304M)

USD/CHF: 0.9635-40 (USD 315M)

USD/CAD: 1.1500 (USD 352M), 1.1600 (USD 352M), 1.1700 (USD 512M)

AUD/USD: 0.8275

EUR/GBP: 0.7875

AUD/JPY: 100.00 (AUD 510M)

 

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Forex trading plan for Dec. 16

 


 

US dollar firmed versus all the major currencies on Monday as investors await the Fed’s meeting outcome on Wednesday. Given the recent strong US releases, part of market players expect the US monetary authorities to turn more hawkish in December.

 

EUR/USD holds below the 1.2500 mark as the expectations for the ECB’s QE keep on growing. On Tuesday watch the euro zone’s PMIs and ZEW economic activity indices – forecasts are upbeat. Break above 1.2500 could open the way for a higher rebound towards 1.2600, while support is seen at 1.2350.

 

GBP/USD fell from 1.5745 down to 1.5630. Watch the UK inflation data on Tuesday – price growth is expected to have slowed further in November. BOE Governor Marc Carney will deliver a speech tomorrow.

 

AUD/USD hovers near its 4.5-year lows slightly above the 0.8200 mark. This figure acts as a support these days, but the medium-term picture remains bearish. The RBA is scheduled to release its meeting minutes tonight. What’s more, the Aussie could also be influenced by the Chinese HSBC manufacturing PMI tonight (forecast – downbeat).

 

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MARKET NEWS

 

Dec. 16: MARKET OVERVIEW

 

USD/JPY: edged down to 117.12. Yen strengthened as demand for it as a safe haven rose after crude oil slumped by 4.8% to $55.02 a barrel on Monday and Russia raised interest rates from 10.5 to 17% on Tuesday.

 

China’s HSBC Flash Manufacturing PMI fell below the crucial 50 mark for the first time in 7 months, coming below the forecast at 49.5. RBA monetary policy minutes show a cheaper currency is needed to support the economy. AUD/USD tested the 0.8200 mark to the downside, but found some support here.

 

Markets await flash manufacturing and services PMI's and ZEW economic sentiment readings for Germany and the region. First figures will be released at 8:30 GMT. EUR/USD hovers around 1.2440. 

 

GBP/USD: rose a bit to 1.5665. The UK will release bank stress tests results and the Bank of England’s Financial Stability Report at 07:00 GMT. Governor Mark Carney will speak at 09:00 GMT. At 09:30 GMT Britain will release November inflation figures.

 

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MARKET NEWS

 

Key option levels

 

FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT). 

 

Here are the key options expiring today:

 

EUR/USD: 1.2300 (EUR 706m) 1.2500 (EUR 1.3bln) 1.2550 (EUR 789m);

 

GBP/USD: 1.5800 (GBP 747m);

 

USD/JPY: 117.00 (USD 2.7bln), 118.00 (USD 1.7bln), 119.00 (USD 1.3bln), 120.00 (USD 3.68bln);

 

USD/CAD: 1.1500 (USD 340m);

 

EUR/GBP: 0.7820 (EUR 829m) 0.7975 (EUR 501m);

 

AUD/JPY: 98.00 (AUD 600m).

 

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Forex Analytics

 

Danske Bank: trade signals for Dec. 16

 

Open positions:*

 

EUR/USD: Hold LONG from 1.2370, Take Profit 1.2602, Stop Loss 1.2335

 

AUD/USD: Hold SHORT from 0.8566, Take Profit 0.8083, Stop Loss 0.8309

 

USD/CAD: Hold LONG from 1.1435, Take Profit 1.1680, Stop Loss 1.1530

 

EUR/GBP: Hold SHORT from 0.7919, Take Profit 0.7767, Stop Loss 0.7989

 

Trade ideas:

 

EUR/CHF: SELL at 1.2032, Take Profit 1.1971, Stop Loss 1.2050

 

EUR/CAD: BUY at 1.4415, Take Profit 1.4735, Stop Loss 1.4350

 

USD/JPY: Look to SELL

 

NZD/USD: Look to SELL

 

GBP/USD: Possibly SELL

 

EUR/JPY: Look to SELL

 

GBP/JPY: Possibly SELL

 

USD/CHF: Look to SELL

 

____________________________

 

*Danske Bank applies trailing-stop orders (moved together with the price)

 

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Forex Analytics

 

Forex trading plan for Dec. 17

 


 

EUR/USD pushed higher on the back of the better-than-expected euro zone’s PMI and ZEW economic activity indices. The pair met resistance at 1.2560 as we speak. Push higher would open the way to 1.2600 and then, potentially, to 1.2900. On Wednesday euro zone is scheduled to release final November CPI (forecast: unchanged at +0.3%). However, the pair will mostly be driven by the Fed’s meeting expectations.

 

GBP/USD rose as the USD was broadly weaker on Tuesday plus the British banks stress tests results were quite encouraging. Lower-than-expected British consumer prices have tempered the advance: so far the bulls have failed to overcome resistance is in the 1.5800 area. Further resistance is at 1.5830 and 1.5875. Tomorrow the UK is expected to release rather positive labor market data. Also watch the publication of the Bank of England’s meeting minutes (09:30 GMT). Support is at 1.5650 and 1.5600. The Fed’s meeting will be decisive for the pair.

 

USD/JPY tested levels below 115.60: yen is in demand as a safe haven. The pair’s tested the 2-month support line and is vulnerable for a decline to 113.50 (50% Fibo of the Oct.-Dec. advance; 55-day MA). Resistance is at 117.30 and 117.95.

 

AUD/USD tested the 0.8200 mark to the downside, but remains resistive for now. There are no releases scheduled in Australia for tomorrow, to the pair will also depend on the Fed. Break below 0.8200 could open the way to new lows of 0.8060. The medium-term picture remains bearish. 

 

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