Watch Out For Higher Volatility Today

Dear Traders, As expected, there wasn’t much volatility in the Forex market Wednesday with the euro and pound remaining within narrow price ranges. The GBP/USD was able to stabilize above 1.32 following an upbeat U.K. Services PMI report but the pair rejected the 1.3250-hurdle, at least for now. Generally speaking, the medium-term outlook for the […]

Risk-Off Mode In The Market

Dear Traders, It seems that market participants are shying away from any risk right now.This risk aversion leads to unsteady and trendless markets with limited swings. Also, we have a U.S. market holiday on Wednesday which is why market participants may prefer to stay on the sidelines until Thursday. Thus, we didn’t see larger swings […]

Euro Jumps On Migration Deal At EU Summit

Dear Traders, There was nothing to gain for day traders on Thursday with the price action in both major currency pairs EUR/USD and GBP/USD remaining limited to a tight trading range. Rather, we suffered losses while trying to benefit from the choppy swings yesterday. The moderate market development can be attributed to lacking fundamental headlines, […]

U.S. Dollar Strengthened Against Euro And Pound – Now What?

Dear Traders, The euro came down from its most recent high at 1.1720 while Tuesday’s decline in the EUR/USD was mainly due to a strengthening U.S. dollar. We now turn our focus to a day trading range between 1.1685-1.1630 and keep tabs on price breakouts either above or below that range in order to evaluate […]

Pound Surges On BoE Rate Hike Speculation

Dear Traders, The Bank of England delivered a hawkish twist at yesterday’s BoE meeting and the British pound responded with a short squeeze towards 1.3270. The MPC voted 6-3 to hold rates steady, but the fact that there were three dissents voting in favor of an immediate rate hike leaves room for speculation about a […]

BoE Decision: Is August Rate Hike Still In The Cards?

Dear Traders, The British pound ended the trading day little changed against the U.S. dollar after compromise has been reached between the U.K. government and Parliament on the progress of the EU Brexit bill. The pound’s rise to a high of 1.3217 proved short-lived and traders now wonder whether the 1.3140-level could give way to […]