Monday January 23, 2017 - 20:35:43 GMT
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Forex Trading Themes For Monday 24January 2017
Pre-Open Trading Ideas for 24 Jan 2017
WEEKLY Forex Economic Calendar:
24 Jan Tue
09:30 GB- Brexit Court Ruling
15:00 US- Existing Homes Sales
25 Jan Wed
00:30 AU- CPI
09:00 DE- IFO Survey
15:30 US- Crude
26 Jan Thu
09:30 GB- GDP
13:30 US- Weekly Jobless
14:45 US- flash Service PMI
15:00 US- New Homes Sales
23:30 JP- CPI
13:30 US- Durable Goods
13:30 US- GDP
15:00 US- University of Michigan
- The USD is opened up the first week of the new Trump administration with a weak tone as the markets were preparing for the possibility of a new weak dollar policy. We will are taking this one tweet, at a time.
- The major trend (down) in the EURUSD has ended. The key directional trend indicator that I like to follow is the 20-day moving average (1.0549). It bottomed and abruptly turned higher two weeks ago for the first time in a half-year. This abrupt change could explain the several bouts of EURUSD illiquidity in EURUSD as those running longer term positions have been forced to adapt to new realities. At 1.0549, the 20-day average is well below the current spot rate.
- The Inaugural address of Donald Trump Friday surprised many as it was a populust speech thay sounded a lot like his campaign speech. While having been elected as a Republican, his policies are very much like those of a third-Party candidate. Expect him to govern as an anti-establishment chief executive.
- The economic calendar on Tuesday includes a slew of flash January PMI's, a U.K. Supreme Court ruling on who can invoke Article 50, Parliament or the PM and U.S. Existing Homes Sales.
CURRENT CONDITIONS: Risk Off Profile
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