At the present moment the Euro looks more likely to extend the downfall with the Italian budget deficit continues to weigh. On the other side the U.S. dollar continues to benefit from growth and positive interest rate outlook. In our scenario for today EURUSD will test 1.1400 level and will eventually close higher with New York close.
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The Euro is trading near 1.1550 ahead of Eurozone inflation data that is scheduled for 09:00 GMT later today. Traders will also focus on the FOMC minutes to get some insights into future interest rates decisions in the US. We are looking to go long on EURUSD targeting 50 pips profit with possible pullback at 1.1630 level.
The British pound is trading near 1.3170 ahead of a very busy day with Brexit summit in the headlines. Although, it is unlikely to deliver any final deal, the summit will bring higher volatility on GBPUSD pair. Traders will also pay close attention on UK inflation data that is scheduled for 08:30 GMT today.
USDJPY is on important level and could go either way but with US session closing hours we feel more going south. The U.S. industrial production remained solid in September with no significant impact from Hurricane Florence but a slowdown is expected in the following months.
The Euro is trading at around 1.1570 ahead of EU mid-tier data releases with the focus on German ZEW survey that is scheduled for 09:00 GMT. After the pullback from 1.1600 we would be looking to go long on EURUSD with 50 pips profit.
Today, traders would be looking towards UK wage growth data which comes at 08:30 GMT. We expect the British pound positive run to continue amid Brexit jitters and we might go long on GBPUSD for today. A pullback might happens at around 1.3220 level.
The Euro continues the positive run and as we have missed the entry for a long position we would be looking for a pullback where to short EURUSD. We would expect a pullback around 1.1620 - 1630 so if the price reaches those levels we might enter a short position for today.
The British pound is taking advantage on positive Brexit news and global equity sell-off. We would expect the upside move to continue after BOE Carney's speech that is scheduled for 09:00 GMT today. We are looking to buy any pullback with 50 pips profit on our daily trades.
The Euro is trading at around 1.1540 after yesterday reached 1.1570 for the first time this week. Today, focus will be on the ECB monetary policy and US inflation data. We would expect the Euro to take advantage of a global equity root that pushes the US dollar lower.
The UK manufacturing and GDP data missed the market estimates amid Brexit rumors. We would be looking to buy dips on GBPUSD as the upside move might resumes during the US session. Traders will also pay attention on FOMC Member Bostic speech that is scheduled for 22:00 GMT later today.
The Euro is trading below 1.1500 and we would expect to slip a bit lower to 1.1470 before it resumes the upside recovery. There is still uncertainty surrounding the common currency as Italy remains in fiscal check and the market focus would be on the Italian budget once again.
Yesterday, UK Brexit Secretary Dominic Raab canceled his Brussels meetings to help the Pound little recovery. GBPUSD is currently trading at 1.3080 and it is possible to continue on the upside with no Brexit negotiations scheduled for today.
The Euro continues to slide below 1.1500 with Italy's budget plans remain questioned by Brussels. Meanwhile German trade surplus rose to €18.3 billion in August. We would expect the Euro to finally find support near 1.1440 and eventually to close higher on the day.
The Euro looks set to continue the rally as Italy is planning to cut its budget deficit. The expected reaction from 1.1555 level happen earlier today during the Asia session. EURUSD is currently trading at 1.1580 ahead of plenty of mid-tier data from the Euro zone.
Last week the British pound plunged below 1.3100 and now is at a key level 1.3020 that could help the pair recover some of the recent losses. GBPUSD is currently looking for its new direction ahead of the UK manufacturing PMI release that is scheduled for 08:30 GMT later today.
The focus is on Italy, concerned about Italy's fiscal profligacy Brussels is asking the Italian government to reduce its public debt, while the greenback enjoys higher demand. EURUSD is currently trading below 1.1580 sliding towards important level 1.1555 where we could expect some reaction.
EURUSD is trading around 1.1645 ahead of a busy day with CPI data from Europe to be released today. The Euro could suffer a deeper sell-off today with Italy and EU fighting over fiscal policy. The preliminary EU CPI figures are scheduled for 09:00 GMT later on today.
EURJPY reached important level 133.00 and is currently heading south amid Italy budget concerns. The currency pair already dropped to 131.80 and further losses are on the cards today. Traders will focus on the CPI data from Germany and ECB President Draghi's speech.
The Euro could suffer a further loss on a hawkish Fed policy interpretation, as yesterday the U.S. central bank raised rates by 25 basis point. The negative headlines from Italy concerning the budget also weight on the common currency.
EURUSD is trading near 1.7030 ahed of the Fed's rate decision that is scheduled for 18:00 GMT today, the central bank is set to raise rates by 25 basis points. The current path of rate hikes are already fairly priced and we would expect the pair to continue on the upside and eventually to close higher on the day.