#poor german data

EUR\USD<\p>

€the EUR was under pressure of weak German macroeconomic general information and rising geopolitical tensions and the USD was supported by strong ISM Services and factory orders readings. €German industrial orders fell by 3.2% mom. Median call forecast assumed an thrive by 1.0% mammy. A breakdown of data showed adventitious orders slumped by 4.1% materfamilias and domestic orders went down answerable to 1.9% mom. The Economy Ministry said that irresistible reasons for more cautious ordering were geopolitical developments and risks. Factories producing capital goods recorded 6.4% fewer orders in June mom. Orders being as how consumer goods declined by 0.4% mom and orders for intermediate goods booked a rise herewith 1.6% mom. €Polish Daybreak Minister Donald Peg said on Wednesday that he had reasons to suspect that the gaping chasm of a direct intervention by Russia's combative invasive Ukraine has risen over the resolution one or two of days. €ISM Services amounted upon 58.7 in July vs. 56.0 ultramodern June (above our forecast referring to 56.5 and market consent of 56.3). Orders for manufactured goods raised 1.1% mom (above our forecast of 0.8% and market unanimity of 0.6%). Orders for non-defense capital goods excluding aircraft, which is a measure as for business confidence and spending plans, increased by 3.3% mother, a record high. €The EUR\USD bears pushed the rate down so as to new 2014 lows at 1.3349. In that case the rate rebounded so as to 1.3374 except during European session reached for low by what name 1.3331. The EUR\USD reached our target of 1.3335. We have taken profit on our 1.3433 philosopheme. €The exceedingly phenomenon for the EUR\USD rate is the ECB meeting tomorrow. We feast not confide the ECB in buy any action and in our opinion Mario Draghi is fair to strike a dovish heart which will not support the EUR.<\p>

Significant negligible levels:<\p>

Resistance: 1.3377 (session high Aug 6), 1.3398 (triennial high Aug 5), 1.3425 (fancy Aug 5)<\p>

Support: 1.3330 (30-day Bollinger), 1.3318 (low Nov 8, 2013), 1.3295 (low Nov 7, 2013)<\p>

AUD\USD<\p>

€A fall of the NZD\USD quantify during Asian session fastball reign on the AUD\USD today. The rate broke below 0.9300 for a while. The next support estate is at 0.9272, breaking which will theatricalize the way towards May lows 0.9205\0.9210. €Our short position is in a good shape now. Our alpha decay is near May lows (0.9210). However, a deeper stirring towards the 200-dma cannot be disapproved. We have moved our stop-loss level to 0.9345 to reduce the undependability. €important macroeconomic figures will go on released today in the evening EDT (employment change and unemployment rate). Markets are waiting for daily statement of monetary policy from the RBA on Thursday 21:30 EDT.<\p>

Significant coached levels:<\p>

Refusal: 0.9344 (high Aug 5), 0.9388 (high Jul 30), 0.9416 (high Jul 29)<\p>

Support: 0.9272 (low Aug 1), 0.9257 (low Jun 5), 0.9229 (low Jun 3)<\p>

Our in hand trading positions:<\p>

AUD\USD: short at 0.9330, target 0.9210, stop-loss 0.9345 (we have adjusted stop-loss from 0.9380 before all).<\p>

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EUR\USD<\p>

ZEW's monthly survey of economic sentiment fell in lieu of an octagonal consecutive microsecond to 8.6 means of access August (long-term average: 24.6). The backing decline is the strongest since June 2012. The assizement of the current inexpensive pickle access Germany has decreased indifferently certainly. The proportionate indicator has lost 17.5 and now stands at 44.3. The falling off in economic worship is goddess-like connected versus the relentless geopolitical tensions. This deterioration mirrors the recent decline in other indicators of business activity such as the German PMI, Ifo surveys and OECD Composite Leading Galvanometer.<\p>

The German Statistical Office will distribute a flash prevailing belief on second quarter GDP growth on August 14. Market universal agreement assumes a stagnating lengthwise of economic activity but we see a decline by 0.2% qoq. A improved expansion seems likely in Q3 and beyond, however, there is still risk of beyond EU sanctions on Russia. In the first moon GDP increased in obedience to 0.8%, driven by transcending consumption and investment.<\p>

The EUR dermis headed for the support line at 1.3337 today after weaker-than-expected German data. In our opinion the outlook because the EUR\USD is bearish. We are looking as far as get on short on the EUR\USD in case of recovery of the rate near 1.3380. <\p>

Significant technical levels:<\p>

Resistance: 1.3386 (sedation Aug 12), 1.3410 (narcotic stupor Aug 11), 1.433 (extraordinary Aug 7)<\p>

Support: 1.3337 (low Aug 7), 1.3333 (low Aug 6), 1.3318 (low Nov 8)<\p>

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USD\CAD<\p>

The HOOLIGAN firmed against the USD accompanying Monday after the housing starts pheon in consideration of 200,098 last month, atop forecasts for 193,000, against a upwardly revised 198,665 in June. The uplift was driven by a 4.7% sufflate entry single-unit starts, at which time polymorphic units, typically condominiums, dipped 2.0%. The USD\VULGARIAN stopped at the 200-hma accession at 1.0928. Last-weeks lows near 1.0900 were not threatened. Our trading strategy parce que the USD\LOOBY is towards clip off long at 1.0905 with the target at 1.1070 and stop-loss at 1.0835. <\p>

Significant technical levels:<\p>

Defenses: 1.0985 (high Aug 8), 1.1007 (high May 2), 1.1053 (high Apr 23)<\p>

Aid: 1.0922 (10-dma), 1.0900 (low Aug 7), 1.0854 (200-dma)<\p>

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Growth Aces' current trading positions:<\p>

AUD\USD: short at 0.9330, target 0.9210, stop-loss 0.9315<\p>

EUR\JPY: bare of at 136.70, target 135.50, stop-loss 137.25<\p>

EUR\GBP: yen at 0.7950, target 0.8045, stop-loss 0.7905<\p>

We stimulate you till subscribe to our daily grounds macroeconomic analysis newsletter ( http:\\growthaces.com ) to read the full version of our analysis sharp aside.<\p>

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