MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Weekly forecast and an intraday analysis of GBP/USD for December 15-18, 2014

WEEKLY ECONOMIC DATA TO IMPACT ON THE PAIR


Monday GBP - CBI industrial order expectations


USD - Industrial and Manufacturing, Production, and NAHB Housing Market Index


Tuesday GBP - Bank stress test result, BOE governor Carney speech, CPI, PPI input, and RPI


USD - Building Permits and Housing Starts


Wednesday GBP - Unemployment rate


USD - Core Inflation and Federal Reserve Rate Decision


Thursday GBP - retail sales


USD - Jobless Claims Data


The US strong data and raising expectations that the Federal Reserve will soon announce a interest rates hike supported the US dollar. The cable managed to gain ground last week. Today, ahead of the US industrial production and NAHB housing market index the pair is trading in a bearish zone. The cable has the nearest support at 1.5695 and 1.5685. The cable managed to close above 20Dsma. For an intraday view, the prices are holding at 35DEMA or 1.5700. In case if the prices fall below 1.5700, we can expect 34hrsma will act as support at 1.5670 and 1.5650. The hourly momentum oscillators are giving a selling signal. We recommend fresh selling below 1.5695 with the targets at 1.5680 ,1.5670, 1.5650, and 1.5630. The pair has hourly resistance at 1.5720 and 1.5736. On the hourly chart, the cable prices are managing to hold and trade above a 1-week support trend line. In case it breaks below the trend line, we can expect 1.5650 will decide the weekly trend. The prices have been consolidating for 3 days.


1418612216_GBPUSDH1.png


The material has been provided by InstaForex Company - www.instaforex.com