Currency movers for October 28, 2015

October 28, 2015

The AUD is broadly weaker against the majors in the wake of disappointing CPI data. The CAD is higher even though the BoC’s Lane did not offer anything new on policy or the economy, as expected. The USD, EUR and GBP are mostly unchanged ahead of today’s start of the FOMC meeting.

​AUDUSD, Daily

Price looks to retest .7160 before continuation of its downtrend for a 0.7162 target in the immediate short term. Price has broken down through recent lows at .7200. Targets further out could be near 0.7100 and 0.7020. However attempts to form a higher low near 0.7260 could signal a potential recovery towards the .7400′s.

USDCAD, Daily

Stochastic Oscillator analysis is starting to turn bearish. The medium term risk of a deeper retracement of the May to September 1.1922-1.3454 advance to a minimum of 1.2658-88 and possibly 1.2507-61 is possible; provided we get a solid break below the recent upward trend line. The longer-term trend does remain up. However, for the short term daily trader, I would expect any downward movement to stop near the 1.3180 – 1.3045 levels.

John Knobel 
Senior Currency Strategist

Publication source
HotForex information  HotForex reviews

February 24, 2017
Gold surges to major $1250 resistance as uncertainty prevails
Gold surged Thursday on a breakout of its previous consolidation to hit and slightly exceed major technical resistance at $1250, a level not seen since early November...
February 24, 2017
Dollar falls as peso and gold rally
The U.S. dollar was the weakest currency yesterday as surprisingly, the Mexican peso rallied, rising 1.22% over the day against the greenback...
February 23, 2017
U.S. dollar muted to Fed minutes
The U.S. dollar index was flat yesterday after the Federal Reserve published the meeting minutes from the January 31 -February 1 monetary policy meeting...

FXCM Rating
XM Rating
FxPro Rating
 FXTM Rating
Vantage FX Rating
OANDA Rating

UKoptions Rating
99Binary Rating
Empire Option Rating
Dragon Options Rating
OptionBit Rating
First Binary Option Service Rating