9 Forex Trading tips for 17th October


Forex trading tips for today begin an eventful week full of news events both data and speech based. With Brexit and USA Presidential dominating the news, what can traders expect for the Cable or Greenback? Bearish EUR? 

17th October AtoZ Forex – This week we see a number of currencies under the markets radar in week where ECB President Draghi , RBA Governor Lowe and BoC Governor Poloz speak. Today’s forex trading tips, this week we have twenty-nine (29) high impact news events as well as speeches from ECB President Mario Draghi, RBA Governor Philip Lowe and BoC Governor Stephen Poloz. Continued pressure on EUR, GBP and USD?

High impact news

There are three (3) high impact news events today. Trade cautiously.

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

 # 1 EUROPE –@ 6:35pm BST

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

Forex Trading Tips – Will be delivering welcoming remarks at the European Cultural Days of the ECB, in Frankfurt. Traders will be looking out for clues to the future monetary policy. If the markets detect a hawkish sentiment then expect the EUR to appreciate.

# 2 AUSTRALIA –@ 10:10pm BST

RBA Governor Lowe speaks – non-data event; Currency affected: AUD

Forex Trading Tips – Will be speaking in Sydney at the Citi’s Annual Australian and New Zealand Investment Conference.  Expect volatility as traders will be look for clues to the future interest rates. If the markets detect a hawkish sentiment then the AUD will appreciate.

# 3 NEW ZEALAND –@ 10:45pm BST

Consumer Price Index (CPI) q/q – Previous 0.4%; Forecast 0.0%; Currency affected: NZD

This is a measures the change in the price of goods and services purchased by consumers. Market expects a  further contraction in the CPI from the previous quarter indicating NZD likely to depreciate.

Currency Pairs – Daily Forex Trading Tips

#4 AUD forex trading tips

The AUD performance was choppy in the Asian session.

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

#5 CAD forex trading tips

The CAD performance was bearish – neutral in the Asian session.

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

Also see: Daily Free Forex Signals

#6 EUR forex trading tips

The EUR performance was  bullish in the Asian session.

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

#7 GBP forex trading tips

The GBP performance was on the bearish side in the Asian session.

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

#8 JPY forex trading tips

The JPY performance was mixed  in the Asian session.

Forex Trading Tips –On intraday (H1 TF) the bias currently is bearish against the  CAD, NZD, and bullish in the case of GBP, USD.

#9 USD forex trading tips

The USD performance was mainly on the bearish side in the Asian session.

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

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