MARKET BRIEFING – LONDON OPEN 25.03.2016

MARKET BRIEFING – LONDON OPEN 25.03.2016

Postby Atlas CapitalFx » Fri Mar 25, 2016 8:06 am

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MARKET BRIEFING – LONDON OPEN 25.03.2016







This afternoon at 12:30 pm London the Bureau of Economic Analysis publishes its latest Final GDP report.

This report measures the annualized increase or decrease of all production which includes services that the US economy producers.

This report is produced on the quarterly basis and is released some 85 days after the quarter ends.

GDP data is released in three different versions being the Preliminary, Final and Advance GDP numbers. Of the three data sets, the Advanced GDP is the most followed as it is the earliest release and therefore usually has the greatest effect.

GDP data is an important measure of countries economic wellbeing as a productive activity. Expanding or contraction productivity can be used as an early barometer which measures expanding or contracting economic activity.

The prior GDP release showed indicated an expansion of 1.0% with the market consensus expecting today’s number to be unchanged.

In general, a GDP release that is greater than the forecast should lead to an appreciation of the US Dollar.









EURUSD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.1285

Target 2: 1.1070

Projected range in ATR’s: 0.0106

Daily control level: 1.1260



GBPUSD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.4300

Target 2: 1.4005

Projected range in ATR’s: 0.0146

Daily control level: 1.4400




USDJPY

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 113.95

Target 2: 111.70

Projected range in ATR’s: 1.14

Daily control level: 112.35



USDCHF

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 0.9845

Target 2: 0.9670

Projected range in ATR’s: 0.0088

Daily control level: 0.9735




USDCAD


Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.3390

Target 2: 1.3090

Projected range in ATR’s: 0.0150

Daily control level: 1.3020




AUDUSD


Image


The intraday technical outlook

Trend 1 hour: Down

Target 1: 0.7615

Target 2: 0.7425

Projected range in ATR’s: 0.0095

Daily control level: 0.7650










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Atlas CapitalFx
 
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