Forex News: The Forex market regains all movements, missed this year
“At the moment, the nearest figures, which will put up serious resistance to the market, are psychologically important rates: the rate of GDP/USD is 2 dollars for pound sterling (perhaps, we will see the efforts of passing through this level this month). GBP/JPI still reveals strong trend, which has been in progress through the year out. The nearest rate is 230 yen for a pound sterling ”, Sergey Popov, NorthFinance analyst says.“In general, the market is against American dollar. Obviously, we will see new historic maximums and minimums in all major pairs against dollar this year.
We do not flatly recommend opening positions for dollar purchase for two months.
The market is characterized by high volatility and regains all movements, missed during the year. The opinion of current dollar strength is absent from the market. The majority of participants consider that all major pairs’ trend is continuing. The turning-point of the trend is most likely to take place in the beginning of April.
In two-month period, the market will move in stable speculative direction. The majority of rollbacks will not characterise the change of participants’ sentiment, but reveal the consolidation of income. A plenty of return prices for psychological levels of stop-orders and the movement in absence of any statistical data is possible.
The information on labor market in the USA, released next week, will be of great interest. We recommend to refrain from trading during the publications’ hours, because the market’s volatility will be extremely high, and the market is likely to move chaotically, especially in first minutes after publication”, Sergey Popov, NorthFinance financial analyst considers. “The range of price change after news’ releases can be 200 or more points for all major currencies.
Today the publication of CIPS in Great Britain is the most interesting event. The analysts expect the index to rise to 54.0 from 53.7. ISM, reflecting manufacturing activity in the USA, is also to rise by 0.8% in November and amount to 52.0”.
posted by Kalin Tasev @ 11:26 AM
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