Forex Market: GBP/USD daily trading forecast
Yesterday's trade saw GBP/USD within the range of 1.5245-1.5347. The pair closed at 1.5261, falling 0.23% on a daily basis, while extending losses from Tuesday. The daily low has been the lowest level since October 14th, when the pair registered a low of … Continue reading at binarytribune.com
CBN forex policy against ETLS
International trade is a well-known path to economic prosperity for many countries, but in Nigeria, its warped practice, marked by smuggling and evasion of duties, have become destructive drainpipes for an ailing economy one of which is the Economic Trade … Continue reading at thenationonlineng.net
FOREX-Euro gains, dollar falls as market pulls back from Fed reaction
NEW YORK, Oct 29 (Reuters) – Profit-taking drove the dollar down on Thursday as markets pulled back one day after a hawkish statement from the U.S. Federal Reserve that pushed the greenback up sharply against other major currencies. The Fed’s hint that it … Continue reading at reuters.com
According to the official trade balance report published the other day, New Zealand's trade balance saw an even bigger deficit in September, Market Leader reports. In particular, the deficit increased all the way up to 1222 million NZD. It should be … Continue reading at profi-forex.us
Forex Forecast: EUR/USD and AUD/USD see bearish potential, BTC: Blockchain revolutionizing financial services
In today's Forex Forecast, we offer the technical outlook for EUR/USD, AUD/USD, USD/ZAR and Bitcoin, with Eddie Tofpik, Head of FX at ADM Investor Services. EUR/USD: Further downside Tofpik looks at the technical charts for EUR/USD, and says that further … Continue reading at fxstreet.com
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GBPJPY Forex Forecast - Ascending Channel Setup
GBPJPY has started to trend higher on the short-term time frames, with a rising channel just forming on the 4-hour and 1-hour charts. Price got rejected on its latest test of the resistance and may be ready to head back towards support. For now, the mid … Continue reading at forexminute.com
Forex reserve hits bn mark
The country’s foreign currency reserve today hits a new record crossing a $ 27-billion mark. According to a Bangladesh Bank official, the forex reserve stood at $ 27.06 billion surpassing the previous reserve of $ 26.03 billion on August 17 this year. Continue reading at thedailystar.net
Forex – NZD/USD drops on hawkish FOMC statement
Investing.com – Investing.com – The New Zealand dollar dropped against its U.S. counterpart on Thursday, as indications of a possible U.S. rate hike before the end of the year lent support to the greenback. NZD/USD hit 0.6648 during late Asian trade, the … Continue reading at moneycontrol.com
Pakistan forex reserves stand at $ 19.81bn
KARACHI: The total liquid foreign exchange reserves of the country stand at dollars 19.81807 billion, State Bank of Pakistan (SBP) said Thursday. According to a handout issued, the foreign reserves held by SBP on October 23, amounted $ 14.91803 billion … Continue reading at samaa.tv
* In today's Forex Forecast, Steven Woodcock, Senior FX Analyst at Plutus FX, offers his outlook on GBP/USD, and further shares his strategy to trade the flat formation in the charts.
Markets awaiting more guidance
Woodcock notes that the no actual guidance was given yesterday by Yellen's and markets await some concrete guidance. On trading, he comments how the previous Fibonacci trade has changed and markets have evolved to a different trade, largely due to retail players, with more emphasis on 'numbers' rather than 'areas'.
He further adds that markets are playing the range game at the moment.
GBP/USD: Looking for further weakness
Woodcock says how he maintained a sell call last week on cable, and he remains on the bearish camp for the cross. On the downside he maintains a downside target at 1.45, with the pair now trading at the lower end of its range and waiting for a break lower.
Rastani maintains a long bias on EUR/GBP, with the cross having broken out of a flag pattern yesterday. On this, Woodcock explains his strategy to trade the flag pattern breaks - Watch the video for further insights.
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