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Thread: SuperForex - Company News

  1. #1

    Default A New Hope for the Pound

    The United Kingdom's currency seems to have finally slowed its descent - could it be ready to start recovering?

    The future of the British currency became quite uncertain the weeks leading up to the Brexit vote last June, then slumped after the results came through. Now it seems that for the first time in 2017 investors are changing their views on the pound for the better. However, this pertains to the pound vs the dollar; where the euro is concerned, the situation is different.

    This discrepancy could be easily explained. For one thing, investors expected a lot more from the US economy, mostly riding on Donald Trumpís promised goals as president, especially his vow to bring economic growth up to 3%. This is easier said than done, as weíve seen. Lukewarm reports from the United States, as well as Trumpís general struggle to enact any kind of policy successfully have made investors lower their expectations. Weíve even seen the dollar drop against all major currencies in recent weeks.

    The situation is pretty much the opposite with the eurozone. The European Central Bank is in the midst of a massive stimulus program to encourage healthy inflation and spending. Even though the expectation was to see it continue a bit longer, the program is already paying off and surprisingly good economic data from all around Europe has prompted the ECB to admit they may start phasing out the program before the yearís end and turn to a more hawkish policy on the euro. In addition, fears of further political unrest in the EU have been calmed by Macronís victory in the French presidential elections in April. We still have to see what would happen in the German general elections this fall, but things seem promising for Angela Merkel. It was previously feared she might not gather enough support but after a successful equal marriage rights vote last week it seems likely that she would stay in power.


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  2. #2

    Default

    EUR/JPY Technical Outlook before the Rate Decisions
    The BOJ's policy rate will push the Yen to rise a little.
    This week the markets are looking forward to the rate decisions of two important banks - the European Central Bank and the Bank of Japan. This will cause a huge volatility. We will take a look at the instrument most likely to be affected, the EUR/JPY currency pair, and hunt for good opportunities for this week.

    The EUR/JPY pair recorded its highest levels in 17 months at 130.75 and then it bounced back to trade now at 129.00. It declined last week on the release front as the Eurozone Final CPI edged down to 1.3%, matching the forecast. On Tuesday Germany and the eurozone will release ZEW Economic Sentiments.

    The pair broke an important support level at the moving average 50 and it’s trading now at an important key area at the upside trend line. We predict it will break the trend line and decline further but we have to wait to see where this candle will close exactly.
    So, what can we do in the next hours?

    As we mentioned above, we will wait for a candle close below the trend line below 128.70 and sell the pair, keeping our first target at 127.50 and the second one at 126.20; that's in case the pair breaks the second trend line.

    This week we have to be careful in our trades because we have important events which will cause high volatility in the market such as a decision from the BOJ regading the policy rate and the press conference for Kuroda, as well as the minimum Bid Rate for the European Central Bank on Thursday.
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