There is a confluence of supports here at this moment for the Cable. Besides a throwback to the previous resistance trendline, there is an addition of 55ma on the 4-hour chart as well as monthly and weekly pivot M2. If the 1.9600 to 2.0024 move were to
Read more →The current low of USDJPY has made an extended move of 161.8% of wave 1. It waits to be seen now whether we have a reversal or a revision of the wave count.
Read more →To handle the volatility and ranging behaviour of many pairs in the forex market, the trader should be prepared to enter at a point of strength or have a very wide stop. Most day traders would probably not be prepared to have stops of 50 pips or
Read more →Interest rate decisions affect currencies in a big way. The Bank of England or BOE is the central bank of the United Kingdom. Its interest rates decisions naturally reflect the Sterling. On April 10, 2008, the BOE reduced the official Bank Rate to 5.0% from 5.25%. According
Read more →This is a BIG economic indicator to watch out for. Firstly its content is very timely (preceding month) and secondly it is full of details about the job market and household earnings. Last night we saw the: unemployment rate average hourly earnings average weekly hours non-farm payrolls (NFP) Employment situation
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