10 Forex Trading tips for 25th October


Forex trading tips ahead of  speeches from BoE Governor Carney and ECB President Draghi today. How will markets respond, GBP or EUR bullish? Will Governor Carney leave BoE in 2018?

25th October AtoZ Forex -   We have both BoE Governor and ECB President speaking today, what can traders expect for GBP and EUR  or traders be bearish USD?

There are four (4)  high impact news events today of which there are two (2) non-data based events today. Trade cautiously.

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AtoZforex Hint: Do not trade on a single news event look at the total picture when news releases are at similar times.  

 # 1 GERMANY –@ 9:00am BST

German Ifo Business Climate– Previous 109.5; Forecast 109.6; Currency affected: EUR

Forex Trading Tips – It is a leading indicator of economic health and a survey of 7000 businesses asking them to rate the state of the current and next six months expectations. Market expects a slight increase to the positive sid and if actual data is greater than forecast expect EUR to appreciate.

 # 2 USA –@ 3:00pm BST

CB Consumer Confidence– Previous 104.1; Forecast 101.5; Currency affected: USD

Forex Trading Tips – It is a leading indicator of consumer financial confidence and a survey of 5000 household asking them to rate the state of the current and future economic conditions. Market expects a drop in consumer confidence and if actual data is greater than forecast, expect USD to appreciate.

# 3 UK –@ 3:35pm BST

BoE Governor Mark Carney speaks– non-data event; Currency affected: GBP

Forex Trading Tips – Governor Poloz will testify before the Lords Economic Affairs Committee in London on the economic consequences of the BREXIT vote. Will Governor Carney leave before UK leaves the EU?  Expect volatility when he speaks. If the market views his comments as more hawkish than expected, expect GBP to appreciate.

# 4 EUROPE –@ 4:30pm BST

ECB President Mario Draghi speaks– non-data event; Currency affected: EUR

Forex Trading Tips – President Draghi will speak at the German Institute for Economic research in Berlin, about the stability, equity and future monetary policyExpect volatility when he speaks. If the market views his comments as more hawkish than expected, expect EUR to appreciate.

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#5 AUD forex trading tips

The AUD performance was bullish  in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is  bullish  against the CAD, CHF, EUR, JPY,  NZD, USD and bearish on the GBP.

#6 CAD forex trading tips

The CAD performance was mixed  in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is on the bearish against AUD, EUR, GBP, NZD and bullish against the CHF, JPY, USD.

#7 EUR forex trading tips

The EUR performance was mixed in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is on the bearish side against the AUD, CAD, GBP and bullish CHF, USD.

#8 GBP forex trading tips

The GBP performance was mixed with GBP stronger against the JPY in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is bullish JPY, NZD, USD and bearish AUD, CHF.

#9 JPY forex trading tips

The JPY performance was bearish in the Asian session.

Forex Trading Tips –On intraday (H1 TF) the bias currently is bearish against the AUD, CHF, CAD, GBP, NZD and USD.

#10 USD forex trading tips

The USD performance was neutral-bearish in the Asian session.

Forex Trading Tips –On intraday (H1 TF) the bias currently is on the bearish against the AUD, CAD, GBP, NZD and bullish CHF, JPY .

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