Sunday, October 30, 2016

Market is to test FBI probe sparked moves

Economic Data will be very muted. In the US Personal Spending m/m and Chikagi PMI will be released, non of them are of high importance. Though the PMI is a good indication of the uncertainties surrounding the recovery:

In Europe the preliminary GDP and the Flash CPI estimate will be released. It is to see whether better than expected data will continue coming. EUR CPI looks as if the inflation is ticking up:

EUR/USD pushed through the 1.0950 resistance the follow through will be critical. We should see some consolidation before considering any trade.

GBP/USD move was much less muted on Friday evening that suggest weakness. I think it is difficult to trade the 1.2250 level. It should approach other levels to consider any entry.

AUD/USD was one of the weakest on Friday. I will lokk for short entry targeting 0.7500.

NZD/USD looks much stronger. 

AUD/NZD short also could be an interesting trade if the 1.059 breaks.

USD/JPY is still a buy.

USD/CAD is too noisy for me.

SP500 looks more and more bearish, though 2210 is a strong resistance.
DAX looks more attractive from the long side,though 10800 a very strong resistance.

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