Signal performance in September: +479 pips so far.
A profitable trading week is drawing to a close. As for our daily signals this week’s best performer was the GBP/USD, that provided a net gain of +115 pips in only two days of trading. The largest profit was generated by yesterday’s buy position which was opened at 1.3660 and closed at 1.3745.
The reason for the pound rally was the Bank of England which raised the prospect of hiking interest rates as soon as November to contain a surge in inflation. Yesterday’s decision puts the BoE in the more hawkish camp of global central banks, which is now expected being first for a hike, well ahead of the Federal Reserve.
GBP/USD: Remaining above 1.3620, we expect the pair to test the 1.3880-level.
EUR/USD: Chances are currently in favor of the bulls. We pencil in higher targets at 1.1770 and 1.1820.
DAX: If 15800 remains unbroken to the upside, we expect the index to drop back towards 15500. Above 15820, we will shift our focus again to the 16000-level.
Today we will save our weekly profits and wish everyone a beautiful weekend!
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