Intraday Market Thoughts

USD Unleashed ahead of Big Week

by Ashraf Laidi
Jul 25, 2014 16:22

Which pair has just broken above its 55-WMA for the first time in 10 months, produced two major Golden Crosses in less than 5 weeks and, which is currently sitting on 130-140 pips gain in our Premium Insights?  Wednesday's triple US release of ADP, GDP & FOMC (Wednesday) & NFP (Friday) may unleash fresh USD buying, with GDP likely show a 2.9% bounce and the Fed due to affirm the inevitable step towards the end of tapering, alongside some positive colour on jobs. NFP impact may not be too clear, but expectations are looking brighter, considering the clues from ADP and recent trend in jobless claims. Gold selling is seen stabilizing around 1285 as yields are unable to to make any sustainable recovery should help gold remain supported. We remind our subscribers that they are free to hold their longs until the final target, open various positions are different levels aimed at targets around the final objective, or close positions to lock up profits 50-80 pips before the final target in order to re-open fresh trades aiming at around the final objective.


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