The current environment in USD has been extremely quiet, but look for that to change as monthly ranges are unusually small. There is still plenty of time to go, but barring any major moves monthly ranges are still historically low. This means traders need to approach the market with patience, but be alert as pent […]
Talking Points: Top headlines to end the week was the implementation of the US-China reciprocal ($ 34 bln) tariffs and June NFPs Despite the rubber hitting the road on trade wars, US equity indices buoyed sentiment – raising questions for sentiment Key event risk ahead are unscheduled updates on the trade war, the Fed’s report […]
Talking Points: – The US Dollar is extending yesterday’s rally after the Monday test of Fibonacci support. We have high-impact USD data set to be released on both Thursday and Friday, along with a couple of European inflation prints on the economic calendar. This can keep volatility running across the Greenback as EUR/USD is back […]
Traders Remain Net-Long Since Apr 20 GBPUSD: Retail trader data shows 72.4% of traders are net-long with the ratio of traders long to short at 2.62 to 1. In fact, traders have remained net-long since Apr 20 when GBPUSD traded near 1.41803; price has moved 7.0% lower since then. The number of traders net-long is […]
GBP news and analysis: – The UK Government faces a testing week in the House of Commons as lawmakers vote on a series of amendments to the EU withdrawal bill. – If any of the amendments to the bill passed by the House of Lords are also passed by the Commons that would destabilize the […]
GBPUSD talking points: – After touching a 2018 high of 1.4377 on April 17, GBPUSD has dropped back below the psychologically significant 1.40 level. – Now those losses look set to be extended, with the February and March lows the initial targets. Check out the IG Client Sentiment data to help you trade profitably. And […]
The US Dollar Index (DXY) is putting in a technical pattern set to resolve itself one of these days, a little patience required first.GBP/USD is pulling back but viewed as a buying opportunity at support. A few NZD pairs are of interest. Gold range set to continue. Technical Highlights: US Dollar Index (DXY) building a […]
Sterling Talking Points – UK Q4 growth misses expectations – GBPUSD may have further to fall after Wednesday’s hawkish FOMC minutes. Check out our new Trading Guides: they’re free and have been updated for the first quarter of 2018. GBPUSD Rattled by Weaker-Than-Expected UK Growth. UK Q4 growth fell to 0.4% from a prior reading […]
To receive Michael’s analysis directly via email, please SIGN UP HERE GBP/USD Daily Chart Technical Outlook:This week’s Technical Perspective highlighted a constructive bias in cable while above the 1.3020 confluence support zone as price continues to trade within this broad median-line formation. Heading into majorevent risk over the next 72 hours the focus is on […]
Talking Points – The British Pound is well placed to make further gains once the current sideways trend ends. – Little is expected from the fourth round of Brexit talks so any disappointment will likely be limited. Check out our Trading Guides: they’re free and have been updated,with several new ones now available including Forex […]