EUR And GBP With A Tailwind, But Do We Underestimate USD?
Dear Traders, Both British pound and euro traded higher against the U.S. dollar Thursday, although the dollar was also strong against other currencies. The dollar received a boost after Arizona Senator John McCain said he would support the tax plan but the tax reform bill is still far from done and dusted. Votes on the […]
Pound Is Flying High, Next Targets To Watch Out For
Dear Traders, The British pound extended its gains and jumped higher towards the next hurdle around 1.35-1.3515. Traders who traded the bullish movement yesterday had, however, to struggle with limited upside swings and short-term corrections before the pound was ready for another leg higher. Reportedly, Dublin and London are close to an agreement on the […]
Pound Jumps On Brexit Hopes
Dear Traders, Many wondered yesterday what happened to the pound as it jumped more than 150 pips after falling to a weekly low of 1.3220. The high volatility was triggered by reports that the U.K. and E.U. have agreed a deal over the U.K.’s Brexit divorce bill, achieving a breakthrough in Brexit talks. The pound […]
EUR/USD Approaches 1.1860, Next Target At 1.1905?
Dear Traders, As expected, there was little movement in the Forex market with U.S. markets closed for the Thanksgiving holiday. These quiet conditions may continue today which is why we advise traders not to expect too much from the market and better stay out of new engagements or take profits at smaller targets. EUR/USD: The […]
Euro And Pound Soar Amid Low Liquidity
Dear Traders, The euro and pound sterling have soared to fresh highs amid low trading volumes. The upward movement in both EUR/USD and GBP/USD was not only driven by low liquidity but also by a weakening U.S. dollar. While trading volume was low with most U.S. market participants being offline for the long holiday weekend, […]
EUR/USD Remains Below 1.18, GBP/USD Faces 1.33
Dear Traders, The euro ended the trading day virtually unchanged against the U.S. dollar after a bullish reversal towards 1.18 has proved short-lived. We now expect the EUR/USD to trade lower towards 1.1680 unless we see a sustained break above 1.18 and farther 1.1840, which would shift the bias in favor of the bulls. The […]
