Markets

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.

Economic Calendar

Thursday

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.

Forex Coffee Break with Invest Diva. Start today.

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

Friday

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.

Forex Coffee Break with Invest Diva. Start today.

Trading Strategy

Long term bearish as long as the pair remains below Ichimoku. Resistance is set at 1.13. and 1.15 in extension.

This article was originally published on InvestDiva.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Kiana Danial

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert. She is a highly sought-after professional speaker, author and executive coach who delivers inspirational workshops and seminars to corporations, universities and entrepreneurial groups. She is a frequent expert on many TV and radio stations and has reported on the financial markets directly from the floor of NYSE and Nasdaq. She is a weekly investment expert guest on Tokyo’s #1 Investment TV Show. She has been featured in The Wall Street Journal, TIME Magazine, CNN, Forbes, The Street, and numerous other publications. Kiana’s book "Invest Diva's Guide to Making Money in Forex" was picked by McGraw-Hill only two years after she first moved to the US, and was an immediate domestic and international success. At a young age, she has won numerous awards including Best Financial Education Provider at Shanghai Forex Expo in 2014, New York Business Women of Influence Honoree in 2015, and Pro Bono Humanitarian Award by IA Bar Association in 2013. Born and raised in Iran to a Jewish family as a religious minority, she was awarded a scholarship from the Japanese government to study Electrical Engineering in Japan, where she obtained two degrees in Electrical Engineering and researched on Quantum Physics in classes conducted in the Japanese language. Being the only girl and foreigner in her classes made her decide to dedicate her life to empowering minorities, especially women in male dominated industries. As the CEO of Invest Diva, Kiana’s goal is to empower and educate women to grow their wealth by investing like a ROCK STAR.

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