EUR/USD Pivot Point: Forex Economic Calendar
EURUSD Pivot point remains at 1.11 and the pair seems to be heading back that direction. What's next? Check out today's update reporting on the remaining of the trading week. Checkout the outlines here and I'll get in more detail during our private coaching time.
Thursday BIG day for the GBP traders as the UK will be dumping a ton of important data starting with BoE Asset Purchase Facility for August at 11 AM GMT, which is the value of money the BoE plans to create and inject into the economy through open market bond purchases as a way to influence long-term interest rates. At the same time, they will release their Interest Rate Decision, Monetary Policy Summary, alongside with the minutes of the BoE MPC meetings. At 11:30 BOE's Governor Carney gets on stage to give opinion on the results, and perhaps signal future direction of the economy.
During the New York session we have the US Initial Jobless Claims at 12:30 PM.
Later during the next day’s Sydney session we have the AiG Performance of Construction Index out of Australia at 11:30 PM GMT to end the trading day
First thing during Friday’s Asian session was the RBA Monetary Policy Statement released by the Reserve bank of Australia at 1:30 AM GMT, followed by Japan’s Leading Economic Index at 5 AM.
We have mostly a low-key London session, awaiting the all important nonfarm payrolls and Unemployment Rate released by the US Department of Labor at 12:30 PM GMT during the New York session. Canada will also be releasing their Unemployment Rate at the same time, and the combination could create a fair bit of volatility in the USD/CAD pair in particular.
So don’t forget to manage your risk properly before aiming to take advantage of the potential opportunities.
EURUSD Pivot Point - Technical Analysis
The EUR/USD pair attempted to break inside the Ichimoku cloud on Wednesday, however it changed direction back towards the EURUSD pivot point of 1.11. The sentiment still appears to be bearish with 1.0950 as first bearish target, with the Ichimoku cloud acting as resistance.
Long term bearish as long as the pair remains below Ichimoku. Resistance is set at 1.13. and 1.15 in extension.
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