MARKET BRIEFING – LONDON OPEN 25.02.2016

MARKET BRIEFING – LONDON OPEN 25.02.2016

Postby Atlas CapitalFx » Thu Feb 25, 2016 3:52 am


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MARKET BRIEFING – LONDON OPEN 25.02.2016






The British Prime Minister David Cameron is prepared to engage the Bank of England in order to keep Britain in the European Union. According to his speech on Tuesday, the policymakers “will make sure that the Treasury and the Bank of England and other authoritative organisations set out the facts, set out the figures so people can make a judgment.”

In the meantime, the pound continues to weaken against its major counterparts, with the GBPUSD hitting a new seven-year low yesterday afternoon and trading below 1.3900 marks.

Mark Carney, the BoE Governor, is ready to loosen the monetary policy, saying that the Bank is open to the interest rate cuts and extending a bond-buying programme if required. Even though the slowdown in the global economy has not yet significantly affected the UK growth. He also emphasized his view that the local interest rates will be unlikely to be raised from the record low of 0.5% over the next three years.

Second Estimate UK GDP data release will open this morning at 9:30 am London time. The change in the inflation-adjusted value of all goods and services within the country is expected to remain unaltered from the last quarter at 0.5%. Provided the release will not show significant deviations from the forecast, this event is unlikely to significantly affect the British Pound.








EURUSD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.1110

Target 2: 1.0910

Projected range in ATR’s: 0.0100

Daily control level: 1.1050




GBPUSD


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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.4180

Target 2: 1.3765

Projected range in ATR’s: 0.0159

Daily control level: 1.4405



USDJPY


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The intraday technical outlook

Trend 1 hour: Down

Target 1: 113.65

Target 2: 110.70

Projected range in ATR’s: 1.50

Daily control level: 113.40




USDCHF


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The intraday technical outlook

Trend 1 hour: Down

Target 1: 0.9980

Target 2: 0.9790

Projected range in ATR’s: 0.0096

Daily control level: 0.9950




USDCAD


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The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.3800

Target 2: 1.3675

Projected range in ATR’s: 0.0145

Daily control level: 1.3660




AUDUSD


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The intraday technical outlook

Trend 1 hour: Up

Target 1: 0.7280

Target 2: 0.7110

Projected range in ATR’s: 0.0087

Daily control level: 0.7065






GOLD


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The intraday technical outlook

Trend 1 hour: Up

Target 1: 1254.00

Target 2: 1200.00

Projected range in ATR’s: 26.77

Daily control level: 1201.00




OIL

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 34.00

Target 2: 30.00

Projected range in ATR’s: 1.98

Daily control level: 33.50







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Atlas CapitalFx
 
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