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U.S. Dollar’s Climb Slows

Dear Traders, Trading has been quiet on Monday with both pairs consolidating within tight ranges. While the EUR/USD headed for a test of 1.19 providing short traders a small profit, trading the GBP/USD was a little choppy and left much to be desired. GBP/USD: The short-side continuation proved to be a challenge in this pair […]

U.S. Dollar Mixed After FOMC

Dear Traders, The U.S. dollar produced a mixed reaction to the FOMC statement and unfortunately, we were caught on the wrong foot when we tried participating in yesterday’s choppy waters. While the dollar showed some pullback on the initial release of the statement, that rebound proved short-lived with the dollar finishing the trading day cautiously […]

Quiet Trading On May 1st?

Dear Traders, We welcome you to the trading month of May. May 1st is a public holiday in many countries with many major markets shut for holidays. Trading in the Forex market could therefore be quieter than usual but that doesn’t necessarily mean that there will be no profitable movements. Let us be surprised. Yesterday […]

Nothing New From The ECB, Focus Now On U.S. GDP Numbers

Dear Traders, The ECB meeting is behind us but we had hoped for some larger market moves yesterday with a bit more follow-through after the euro’s technical break below 1.2150. The reason why the ECB statement turned out to be less market-moving this time is obvious: The central bank made absolutely zero changes to its […]

Moderate Recovery In EUR/USD And GBP/USD

Dear Traders, On Tuesday we finally saw some corrective movements in both EUR/USD and GBP/USD, even though yesterday’s pullbacks have been rather modest in terms of profitable movements. The British pound was able to recover some of its recent losses and rose back towards 1.40. Given the recent bearish bias, we now expect the GBP/USD […]

USD Rally Appears Overstretched

Dear Traders, The U.S. dollar resumed its advance on Monday but we are continuing to be on the lookout for reversals since the dollar’s rally could be somewhat overstretched in many major currency pairs. The euro extended its slide to a low of 1.2184 but the breakout below 1.22 appears unsustainable, at least as long […]

British Pound Continues Decline On Carney Comments

Dear Traders, The pound sterling continued its decline on Thursday with the cable dropping below 1.4145 and easily breaking through the 1.4090-support. Whether the pound’s sharp trend reversal will be sustained within the near-term remains to be seen but short traders in the GBP/USD should be rather cautious, at least for now. Another reason for […]

Pound Slumps On Disappointing Inflation Data

Dear Traders, The biggest story in the Forex market on Wednesday was the sharp drop of the British pound. The pound extended its losses towards 1.4170 following the release of disappointing U.K. inflation data. Inflation fell to 2.5 percent, the lowest level in a year and investors fear that the lower reading could encourage Bank […]

GBP Tests Support, What’s Next?

Dear Traders, It came as it had to come in the GBP/USD: The British pound retreated from its highs and corrected some of its recent gains. Before yesterday’s pullback happened, we saw the pound touching a fresh post-Brexit high at 1.4377 but the U.K. employment report put an end to the cable’s rally. As we […]