empty
 
 
21.02.2017 12:35 PM
Trading plan for 21/02/2017

Trading plan for 21/02/2017:

On Tuesday 21st of February, there will be many economic releases during the European and American trading sessions and the main focus will be on the Inflation Report Hearings in the UK and Flash Manufacturing PMI data release from the US.

EUR/USD analysis for 21/02/2017:

Today's PMI Manufacturing data are expected to drop just slightly to the level of 54.7 points from 55.0 a month ago, which means that another round of support for the manufacturing rebound is expected in today's data. If the forecast is correct, the index will inch up to a 29-month high and provide more evidence that this part of the economy is again posting moderate growth on a consistent basis.

Let's take a look at the EUR/USD technical picture at the H4 time frame. The price is getting closer to the technical support at the level of 1.0519 and this support might get violated as the larger time frame trend is still bearish. Any break out below the level of 1.0519 will open the road towards the next technical support at the level of 1.0452.

This image is no longer relevant

GBP/USD analysis for 21/02/2017:

The bank of England Governor Mark Carney and other policy makers will testify to the Treasury Select Committee today from 10:00 am GMT. Markets expect Carney to answer the questions currently that are currently important for UK economy, like wages, household debt and inflation. Probably some rate hike questions too with Brexit the ever present casting a shadow, so higher volatility is expected.

According to the technical picture at the H4 time frame, the GBP/USD pair might finally break out of the triangle. Any violation of the level of 1.2381 will open the road towards the levels of 1.2347 and 1.2251. On the other hand, any violation of the level of 1.2523 will open the road towards the level of 1.2581 and 1.2700.

This image is no longer relevant

Market snapshot: Crude Oil breaking out of the range on Tuesday 21st February 2017

After the last week EIA stockpiles data ( better than expected) the Crude Oil prices were trading inside of the trading range between the levels of 52.70 and 53.70.Today the price is clearly breaking out from the range and it is heading towards the next technical resistance at the level of 54.32. If this level is violated, then the next technical resistance is seen at the level of 55.23.

This image is no longer relevant

Summary
Urgency
Analytic
Sebastian Seliga
Start trade
انسٹافاریکس کے ساتھ کرپٹو کرنسی کی معاملاتی تبدیلیوں سے کمائیں۔
میٹا ٹریڈر 4 ڈاؤن لوڈ کریں اور اپنی پہلی ٹریڈ کھولیں۔
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    مقابلہ میں شامل ہوں
  • چانسی ڈیپازٹ
    اپنے اکاؤنٹ میں 3000 ڈالر جمع کروائیں اور حاصل کریں$6000 مزید!
    ہم دسمبر قرعہ اندازی کرتے ہیں $6000چانسی ڈیپازٹ نامی مقابلہ کے تحت
    اپنے اکاؤنٹ میں 3000 ڈالر جمع کروانے پر موقع حاصل کریں - اس شرط پر پورا اُترتے ہوئے اس مقابلہ میں شرکت کریں
    مقابلہ میں شامل ہوں
  • ٹریڈ وائز، ون ڈیوائس
    کم از کم 500 ڈالر کے ساتھ اپنے اکاؤنٹ کو ٹاپ اپ کریں، مقابلے کے لیے سائن اپ کریں، اور موبائل ڈیوائسز جیتنے کا موقع حاصل کریں۔
    مقابلہ میں شامل ہوں
  • 30 فیصد بونس
    ہر بار جب آپ اپنا اکاؤنٹ ٹاپ اپ کریں تو 30 فیصد بونس حاصل کریں
    بونس حاصل کریں

تجویز کردہ مضامین

ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.
Widget callback