MARKET BRIEFING – LONDON OPEN 29.02.2016

MARKET BRIEFING – LONDON OPEN 29.02.2016

Postby Atlas CapitalFx » Mon Feb 29, 2016 7:12 am

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MARKET BRIEFING – LONDON OPEN 29.02.2016




Today’s trading session is promising to be quiet in regards of economic releases. Nevertheless, investors are awaiting some important events this week.

On Friday, the US Bureau of Labour Statistics will deliver the employment set of data which will highlight the current labour market conditions. This time, the market consensus expects the number of employed people during the previous month to increase to 195.000 from 151.000 of January.

Average Hourly Earnings data though is predicted to slide lower to 0.2% this month in comparison to 0.5% of the last release. Lastly, the Unemployment rate is forecasted to remain unaltered at 4.9%.

Tomorrow’s session is promising to be quite busy with the economic forecasts. Firstly, the data on Chinese Manufacturing Sector will be released by the China Federation of Logistics and Purchasing. The official PMI data is not expected to change and remain at 48.4 level, whereas Caixin survey, later on, is awaiting a slight drop to 48.2 from 48.4 of a month ago.

Following that, the Reserve Bank of Australia data will capture the attention of traders. The majority of economists do not expect any changes in the monetary policy of the institution. However, the rate statement will likely to give some hints regarding the future economic outlook together with the commentary regarding the current economic conditions.

This Tuesday’s afternoon, the major data event is the US ISM Purchasing Manager’s Index release. The data is expected to improve to 48.6 this time, nevertheless remaining in the contraction zone below 50.0 level.






EURUSD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.1004

Target 2: 1.0815

Projected range in ATR’s: 0.0095

Daily control level: 1.1070






GBPUSD


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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.4010

Target 2: 1.3700

Projected range in ATR’s: 0.0155

Daily control level: 1.4050




USDJPY

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 115.35

Target 2: 112.50

Projected range in ATR’s: 1.43

Daily control level: 111.00



USDCHF

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.0060

Target 2: 0.9885

Projected range in ATR’s: 0.0088

Daily control level: 1.0100



USDCAD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.3655

Target 2: 1.3370

Projected range in ATR’s: 0.0143

Daily control level: 1.3735





AUDUSD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 0.7210

Target 2: 0.7030

Projected range in ATR’s: 0.0089

Daily control level: 0.7145




GOLD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1248.00

Target 2: 1195.00

Projected range in ATR’s: 26.60

Daily control level: 1244.00




OIL

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 34.65

Target 2: 30.75

Projected range in ATR’s: 1.94

Daily control level: 30.75





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Atlas CapitalFx
 
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