The good US preliminarily GDP (+2.9% q/q annualized vs +2.6% expected) did little with the USD.
EUR is within yesterday's range. There are two forces drive EUR rates:
- Policy divergence trades fueled by the increase in December FED rate
expectations against the common currency.
- Better than expected Eurozone data helped the EUR. Coming releases will be
important in this respect.
Look for short entry around 1.0950 or 1.0965 and false breakout, strong
rejection bar at 1.0850.
There is not potential fundamental catalyst in sight that could
significantly move GBP. Brexit talk ignited moves were faded quickly recently.
Look for short at 1.2250 and long at 1.2080.
Aussie gave back the better than expected CPI gains and more. Its is in the
middle of the 0.7500-0.7700 daily range. Look for opportunities at these
Kiwi is somewhat similar to AUD on daily basis but looks technically
stronger on the hourly chart. AUD/NZD cross seemingly rejecting the 5 months
old resistance at 0.7700. Iron ore prices rose for the seventh day by 10%.
Aluminum prices have also rallied strongly to five-year highs. The commodity
complex should support the AUD, so I would not short at 1.0770. I would rather
look for the false break of the 1.059 0 resistance.
USD/JPY exhibits some consolidation. I look for long at 104.85.
USD/CAD breakout loosing steam. Look for long entry at the retest of 1.3250.
SP500: long at 2124/2110 short at 2150/2170.
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