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The GBP/USD’s offsetting spikes in price action in early trading is representative of the uncertainty surrounding the Sterling. The BoE remains directionless as slow growth and high inflation have handcuffed policy makers.
Read more...Dollar Retrenches Itself Deep in its Month-Long Range as Scheduled Event Risk Evaporates, Weekend Approaches
Technically, the US dollar would put in for a positive close through Thursday’s active session. However, an astute trader would appreciate the fact that the single currency is actually still mired in its month-long congestion pattern.
Read more...A Lack of Fundamental Drive Resolves Oil to Congestion, Breaks Gold Trend
There were high hopes that the return of speculative liquidity this week would encourage a meaningful trend development. Yet, nothing has developed; and lethargy is setting back in.
Read more...British Pound US Dollar Exchange Rate Forecast
British Pound / US Dollar Monthly Technical Forecast Monthly Chart Prepared by Joel Kruger The market appears to be locked in no-mans land at current levels with the price in the middle of a very broad 1.3500 to 1.7000 range. However, given the bearish price action in August and underlying downtrend, the risks from here are to the downside, with a lower top being sought out by 1.6000, to be ...
Read more...US Dollar Canadian Dollar Exchange Rate Forecast
US Dollar / Canadian Dollar Monthly Technical Forecast Monthly Chart Prepared by Joel Kruger Longer-term studies seem to be suggesting that the market is in the process of carving out a major base, with a fresh higher low now sought out by parity ahead of the next major upside extension beyond 1.3000. At this point however, will need to see a break back above 1.0850 to encourage the recovery ...
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