MARKET BRIEFING – LONDON OPEN 26.02.2016

MARKET BRIEFING – LONDON OPEN 26.02.2016

Postby Atlas CapitalFx » Fri Feb 26, 2016 8:15 am

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MARKET BRIEFING – LONDON OPEN 26.02.2016




The main event for today will be a G20 summit held in Shanghai, where leaders will gather to discuss means to support the sluggish global economy. The Organization for Economic Cooperation and Development said it is imperative to speed up existing structural reforms and use more effectively fiscal and monetary measures in order to attain that.

“Global growth prospects remain clouded in the near term, with emerging-market economies losing steam, world trade slowing down and the recovery in advanced economies being dragged down by persistently weak investment,” the OECD said, as it urged the leaders to deal with these conditions.

The OECD’s mission is to monitor reforms within G20 countries in order to achieve an earlier set of goals of increasing global economic growth by 2% until 2018. In order to do that, more than 800 reforms were introduced since 2014, however, their implementation still remains delayed.

Concerns regarding developments in China is also expected to take a priority in G20 discussions. The world’s second-largest economy has reported a growth of 6.9% for 2015, which was the country’s weakest in last 25 years.

On the over hand, Germany has shown a strong opposition to proposed loosening of the current fiscal stimulus programme. Wolfgang Schaeuble, at a meeting with his counterparts before the summit, warned that space for further monetary easing is exhausted and using additional debt to boost a growth will lead to “zombifying” of economies.








EURUSD

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.1110

Target 2: 1.0920

Projected range in ATR’s: 0.0097

Daily control level: 1.0980



GBPUSD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.4110

Target 2: 1.3805

Projected range in ATR’s: 0.0153

Daily control level: 1.4405



USDJPY

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 114.40

Target 2: 110.60

Projected range in ATR’s: 1.40

Daily control level: 113.40





USDCHF


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The intraday technical outlook

Trend 1 hour: Down

Target 1: 0.9950

Target 2: 0.9810

Projected range in ATR’s: 0.0094

Daily control level: 0.9950




USDCAD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.3675

Target 2: 1.3375

Projected range in ATR’s: 0.0150

Daily control level: 1.3735



AUDUSD

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 0.7320

Target 2: 0.7145

Projected range in ATR’s: 0.0088

Daily control level: 0.7145




GOLD

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 1257.00

Target 2: 1207.00

Projected range in ATR’s: 25.19

Daily control level: 1220.00



OIL

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 35.00

Target 2: 31.00

Projected range in ATR’s: 1.99

Daily control level: 31.00






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Atlas CapitalFx
 
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