Anticipations of optimistic nonfarm payrolls details on Friday and what this suggests regarding the well being of the world’s major economy were encouraging the market from sharp drops as money managers place sell orders on the final day of Q1 and worry with regards to the Ireland’s bank stress-tests results due later today.

The European financial sector gives very much to be concerned about, specially in the so-called peripheral countries, Ireland, Spain, Portugal and Greece. “Credibility of the stress test will be paramount,” said Deutsche Bank. “The amount of capital shortfall is going to be a key focus.” The Automatic Data Processing employment statistics yesterday came in mostly in step with consensus with over 201,000 jobs created and this improved the markets atmosphere.

In the world of FX Trading, The U.K. government will elevate its foreign-exchange reserves by 6 billion ($9.65 billion) this year, and will continue to buy fx currencies at the similar rate through to 2015 in keeping with commitments to the IMF, reported by a report on the Treasury’s website.

EUR/USD forex trading signals: MACD is working out a bearish cross for the fourth day back to back, and still fails at this. RSI has turned favorable and encourages the normally helpful picture painted by the Bolli bands and the EUR price action. The top Bolli band at 1.4280 is securely in focus. The 20-day MA held the USD in check from any trials to progress and is an excellent support way under in which the action comes about currently. Purchasing dips is favored.

GBP/USD reliable daily forex trading signals: The jump back to the 20-day MA at 1.6138 as had been expected has occurred. The GBP/USD traded at 1.6150 and was sharply rejected there. Now, the 20-day MA is essential. A break for the upside, still in all likelihood, will help the sterling to the upper Bolli band at 1.6348. RSI turned bullish following the GBP assault after hitting the 20-day MA resistance. MACD is combating its way out of the negative territory, but is failing so far. Bias is cautiously higher.

USD/JPY best accurate fx trading signal: The couple slipped beneath the 83.00 handle, but still the upper 20-day Bolli band is solidly in sight as well as 84.00 February 16th high. The 20-day MA at 81.64 is the best the JPY bulls can wish for as it behaves as a strong support and way away from the current levels. MACD is in a solid bullish cross. Bullish opinion, purchasing dips is favored.

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