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.
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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.
In today's speech BOJ's Governor Kuroda stated that the current monetary policy will remain in place until reaching the 2% inflation target. We would expect USDJPY to face some resistance near 113.00 and eventually to close lower on the day.
EURUSD is currently trading at 1.1750 after ECB President Draghi hawkish comments. It is likely the pair to stay in the range as traders focus would be on Fed's decision this Wednesday. Today, we would expect the pair to face resistance at 1.1800 and eventually to close lower on the day.
GBPUSD is moving upside since mid August and the pair might continue the positive run depends on Brexit news. We would expect to stay in a range for today before Fed's interest rates decisions on Wednesday. If the pair reaches 1.3220 it is is possible to bounce and close lower on the day.
On a relatively calm day, the key focus will be on the ECB President Mario Draghi's testimony about the economy and monetary policy. It might infuse a fresh bout of volatility for the major pair and we are looking for Call options at 1.1730 for today's expiry.
EURUSD is trading around 1.1780 ahead of the Eurozone preliminary PMI releases which are scheduled later today at 08:00 GMT. Yesterday, the pair broke 1.1730 resistance, and we would expect a minor pullback before the bullish bias resumes.