MARKET BRIEFING – LONDON OPEN 28.12.2015
The first day back after Christmas and the main driver of the European session, London is closed as British traders enjoying the Boxing Day holiday.
With market participants finding it hard to find anyone to match their trades it is expected that volumes will be much lower than is normal for any given Monday.
In terms of event risk, the afternoon session will come with a round of US debt auction, where two-year notes as well as three and six-month bills will be offered. Traders will look at the outcome to assess the recent Federal Reserve policy tightening into real-world application.
Apart from the above investors will also be looking at the US Dallas Manufacturing Activity release this afternoon. The index is forecasted to decline to -7.0 from -4.9 figure last time.
In general, it is expected that the US session will be a quiet affair with dealing rooms manned by skeleton staff who is there in case for an odd piece of corporate business information may need to be taken care of.
EURUSD
The intraday technical outlook
Trend 4 hour: UP
Target 1: 1.1047
Target 2: 1.0853
Projected range in ATR’s: 0.0097
Daily control level: 1.0985
GBPUSD
The intraday technical outlook
Trend 4 hour: Down
Target 1: 1.5011
Target 2: 1.4799
Projected range in ATR’s: 0.0106
Daily control level: 1.4900
USDJPY
The intraday technical outlook
Trend 4 hour: Down
Target 1: 121.14
Target 2: 119.12
Projected range in ATR’s: 1.0124
Daily control level: 121.15
USDCHF
The intraday technical outlook
Trend 4 hour: Range
Target 1: 0.9941
Target 2: 0.9763
Projected range in ATR’s: 0.0089
Daily control level: 0.9855
USDCAD
The intraday technical outlook
Trend 4 hour: Up
Target 1: 1.3939
Target 2: 1.3725
Projected range in ATR’s: 0.0107
Daily control level: 1.3940
AUDUSD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 0.7357
Target 2: 0.7187
Projected range in ATR’s: 0.0085
Daily control level: 0.7205
GOLD
The intraday technical outlook
Trend 1 hour: Range
Target 1: 1088.36
Target 2: 1062.42
Projected range in ATR’s: 12.97
Daily control level: 1075.40
OIL
The intraday technical outlook
Trend 1 hour: Range
Target 1: 39.62
Target 2: 36.90
Projected range in ATR’s: 1.3629
Daily control level: 35.85
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