US government shutdown 2013
FX Currency Majors Video analysis for 1st October 2013 provided by Serene Education Ltd
FX Currency Majors Video analysis provided by Serene Education Ltd. An in-depth look at the FX Currency Majors using the FX Ultimate Strategy.
My name is Chris Blandin De Chalain, Director of Serene Education and full time currency trader. I am here to share with you my views of the currency market through this live video recording. Come and watch me conduct my analysis on the 4 Major Currency Pairs using the MetaTrader4 Platform and Serene Educations FX Ultimate Strategy
We had a partial shut down in the US for the 1st time in 17 years as U.S. lawmakers failed to reach an agreement over a federal budget to meet an October 1 deadline. This triggered a partial shutdown of the government sector that involves federal agencies which in toe process has left approximately 800.000 federal employees facing temporary unpaid leave. The last time US government shutdown occurred was when Bill Clinton was in power and back then they were at logger heads for 21 days in total. This has come at the worst possible time because later this month there are the discussions that are to take place on the US debt ceiling. The longer this draws out the more it will play into the risk aversion. There is also more chance that the FED will leave their $85 billion a month asset purchasing program alone. The longer US government shutdown continues it will also have a negative effect on this forth quarter growth figures, not what the US wants when it;s trying to work it way out of a messy recession…
EURUSD – Pair has breached the current resistance level highs after the news of US government shutdown this morning (GMT) at the 1.35530 mark. We need this level to now forge a new support going forward so that we could then target our weekly fib level which is located at 1.3724. Above that and we can look towards the monthly fib at 1.3814. So there is more than enough profit to be seen over the foreseeable future as long as Price can hold onto the current levels.
GBPUSD – Here again after the news last night we saw this Pair breach it’s current ceiling level which is the weekly fib at 1.6183. It’s also important that the Pair remains firmly above this level for the ongoing future. Our next possible target is the the monthly fib above at 1.6414.
USDCHF – US dollar dropped after the announcement and Price has broken the intro day support level at 0.90321. The next potential targets lie at the weekly and monthly fib levels which are pretty much located on top of each other at 0.88690. That is a healthy 160 pips away from here Price is trading at this moment.
USDJPY – Pair re testing the Daily 200sma level. Price has tested this level a number of times recently. I’d like to see a more defining directional candle – so will wait for the Daily close to indicate a true direction. Price still favours the downside and my intro day indicators are indicating that. Just got to be patient in my approach.
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