Top Trade Setups In Forex - Eyes in U.S. Events - FXStreet
Top Trade Setups In Forex - Eyes in U.S. Events - FXStreet |
| Top Trade Setups In Forex - Eyes in U.S. Events - FXStreet Posted: 13 Sep 2019 07:11 AM PDT The financial markets experienced a lack of trend during the Asian and European session as big traders seem to stay out of the market after pricing in the ECB deposit rate cut. We may see a jump in trading volume during the U.S session open trading as traders will be active to take benefit of U.S. retail sales figures. U.S. Retail Sales - 12:30 GMTToday, one of the significant economic events which have the potential to shake the market is the U.S. retail sales. The purchaser has been on a turn in July, with headline sales surging by 0.7% and core retail sales soaring by 1%. On the other hand, the consumer confidence figures for August have been mixed, which indicates the weaker trade volume for the month of August. The dollar may have a significant impact on these economic releases today. In this update, we are going to see trade setups in the EUR/USD, GBP/USD, and Gold. EUR/USD - Buy the Rumors, Sell the FactA day before, the euro marked a day-low of $1.0927 before bouncing back to close at 1.1056, up 0.4%. The European Central Bank lowered its deposit facility rate to -0.50% from -0.40% as expected and announced the restart of bond purchases at a monthly pace of 20 billion euros from November 1. However, media reported that chiefs of central banks of German, French, and the Netherlands opposed an immediate resumption of quantitative easing. At the moment, the EUR/USD is trading bullish at 1.1100 level as investors are buying the Euro over sentiment analysis. The dovish policy from ECB, deposit rate cut, and reinstating the quantitate easing didn't come as a surprise. Investors already took sell positions on this news even before the4se got released yesterday, which is why we saw selling bias in the EUR/USD pair. Yesterday, on the release of ECB dovish policy, investors started doing profit takings, buy getting rid of their short positions and entering in the long positions. EUR/USD - Daily Technical AnalysisThe Fiber has violated the triple top resistance area of around 1.1065, which was extending a substantial resistance to EUR/USD. The direct currency pair has the potential to go after 1.1150 during the U.S session as both of the leading indicators RSI and MACD are staying in the bullish zone. The 1.1075 level is now likely to work as a support.
EUR/USD - Technical LevelsSupport Resistance EUR/USD - Daily Trade SentimentThe EUR/USD can stay bullish above 1.1085 to target 1.1150 as an initial target. On the lower side, bears can take control below 1.1065 area. Let's wait for U.S. retail sales to determine further trends in the market. GBP/USD - Sterling's Bullish Run BeginsFollowing a consolidation phase for almost a week, the GBP/USD surged during the early European session. The Sterling rose against its primary equivalents in early trading on Friday as traders proceed to comprehend the probabilities of a no-deal Brexit declining. A weaker dollar further boosted GBP/USD as the greenback shifted on Thursday on the back of less dovish than expected ECB monetary policy. Yesterday's European Central Bank conference triggered a subtle effect in the markets. The greenback initially soared towards yearly highs, as the European central bank delivered an effective stimulus plan, but abruptly turned gains. GBP/USD - Daily Technical AnalysisThe bullish bias in Cable dominates the market and leads the GBP/USD prices at 1.2450. On the 4 hours timeframe, the GBP/USD was facing substantial resistance at the double top pattern of 1.2375 area which has also been breached and now it's likely to work as a support level today. The bullish engulfing candle on the 4-hour charts is saying a lot about the bullish trend of the cable. Today, the GBP/USD bullish trend may lead its exchange rate towards .2525 area. Leading indicators such as a MACD and RSI are holding in the bullish zone, suggesting bullish trade opportunities in the Cable.
GBP/USD - Technical LevelsSupport Resistance GBP/USD - Daily Trade SentimentJust like the EUR/USD, we may see a bullish trend continuation in the GBP/USD. The pair is expected to trade bullish above 1.2400 until 1.2525 area. While support continues to hold around 1.2375. Gold - XAU/USD - Range bound Gold Going Nowhere.During the European session, the precious metal gold's prices traded range-bound as monetary easing changes by big central banks maintained demand while trade discussion confidence lifted other assets, bending the gold's market. The ECB rate decision and dovish stance have triggered the sentiments that the U.S. Central Bank Federal Reserve may also be forced to keep the interest rates lower. Consequently, we saw a bullish move in gold and the dovish policy sentiment is still underpinning the demand for gold today. Gold (XAU/USD) - Daily Technical AnalysisOn the technical's side, gold is trading slightly bullish after crossing over the psychological trading level of $1,500. The histograms of MACD are consistently staying in the bullish zone, supporting the bullish sentiment amount traders. Well looking at the support and resistance, the safe-haven gold may find immediate support at $1,500 and $1,484 area. Whereas, the resistance is likely to stay at $1,511 and $1,522 regions.
XAU/USD - Daily Technical LevelsSupport Resistance XAU/USD -Daily Trade SentimentLet's stay bullish above $1,500 trading zone in order to target $1,509 area. Selling can be seen below $1,500 with a target of 1$484 today. 100% Anonymous Trading on EagleFX - Trade NOW!  |
| Forex Trading Assistant ALiX Now Goes Live on BNP Paribas' Cortex LIVE - CryptoVibes Posted: 13 Sep 2019 04:09 AM PDT French banking and trading giant BNP Paribas recently launched Cortex LIVE, a single dealer platform that will feature a digital trading assistant for the forex markets, called ALiX. Pioneering in the forex marketsALiX is the first digital trading assistant that comes in-built into a platform and provides real-time trading assistance to users. It will be available to users of Cortex LIVE, a new single dealer platform (SDP) by the company. The new age platform provides better controls, more transparency, and highly-intelligence trade execution methods which alongside a powerful digital assistant.
 The platform boasts several features, like Insight LIVE, a real-time portal for market intelligence. ALiX, on the other hand, will provide real-time commentary on the forex markets and provide insights into trading and execution. It will inform the users of liquidity changes, market movements and remind of important events as well. The assistant can also make data announcements to streamline the trading experience for users. The banking group that its latest launches reiterate its "ongoing commitment" to better digital growth at the organization. What to expect from the solution?Global head of forex algorithmic executive at the French banking group, Asif Razaq commented on the launch and said,
Both Insight LIVE and ALiX push BNP's artificial intelligence capacities. The solutions use natural language processing which allows them to react to over 100,000 data points each second. Digital Forex COO of the bank Joe Nash said that their solutions are based on simplicity. With Cortex LIVE, users will get a bespoke and highly personalized trading experience that can adapt according to the dynamics of the markets and the changing needs of its clients. He added that while ALiX brings the power of data to the users, Cortex LIVE brings better interactivity to the solution.
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