Awaiting News Flow – Forex Trading Tips

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Originally updated: 08:00

Trading Bias: Neutral

Currency pair: None

Current Sentiment: – Neutral

In today’s trading session I will be awaiting news flow to provide opportunities to get into the market as there is no clear sentiment.

Fundamentals:

The overnight session was relatively subdued as the calendar and newswires were light on market moving news. However, the Chinese Central bank (PBoC) cut interest rates over the weekend which caused the antipodean currencies to outperform their major counterparts overnight with AUD/USD and NZD/USD gaining for another day. However further strength in the NZD was subdued by the poor CPI reading which came in at 0.1% vs expected 0.2%.

Because of this Chinese rate cut you could look at buying the AUD for today’s session however we feel that the positive sentiment surrounding the AUD is very strong, so be cautious.

Technicals:

At this stage of the session, with limited news flow to present a reason to get into the markets I will be waiting for pairs to approach key levels of support/resistance and trade the overall trend in line with the fundamentals – this will of course be in conjunction with any news flow we have that provides the market with fresh sentiment and a reason to start getting involved in the market.

Other Market Moving News:

Looking ahead, today’s economic calendar is very light with only the Bank of Canada Governor Poloz and RBA Governor Stevens due to speak later in the New York session. We will also likely have various comments from Eurozone leaders regarding Greece, as we wait to see if a deal for Greece can be reached.

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"]www.facebook.com/JarrattDavisForex/[/social] [social type="twitter"]https://twitter.com/jarrattdavis[/social] [social type="google-plus"]https://plus.google.com/+JarrattdavisForexTrader/[/social] [social type="youtube"]https://www.youtube.com/user/JarrattDavisForex[/social]

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