British Pound is struggling with momentum. Find out why: FOREX GBPUSD
Even if we do rally from here, the 1.24 level should offer a significant amount of resistance, extending all the way to the 1.26 level. We would have to break through all that area in order to go to the upside for a longer-term move. If we do break through all that, then I would be willing to argue for a trend change.
If we were to break down below the 1.20 level, then I believe that the longer-term downtrend overwhelms us, and we go looking towards the lows again. Until then, I think that we will continue to see a lot of noisy behavior, but I still prefer fading rallies overall. That doesn’t mean it will always work, but it goes with the longer-term trend. Sometimes, that’s about as good as it gets for a trader.
The interest rates in America have dropped a bit as of late, but they turned around during the day on Tuesday, and you can see what the result was. I don’t necessarily think that the rates are going to continue to skyrocket, but at this point, it’s obvious that the market is more likely than not going to be noisy and choppy, and that typically favors the US dollar simply because people run towards bonds, which of course need US dollars to buy.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
US Dollar Price Action Setups: EUR/USD, GBP/USD, AUD/USD, USD/JPYThe USD continued to pullback after last week’s FOMC rate decision. The Fed didn’t say anything particularly dovish but given the response in both Forex and equities, it seems that there’s building hope for a pivot by the FED.
Lire la suite »
US Dollar Price Action: USD/JPY, EUR/USD, GBP/USDThe US Dollar continues to falter as yields edge lower, while an extension of the current short-covering in the Japanese Yen also weighs on the greenback. Get your market update from JMcQueenFX here:
Lire la suite »
Gold Price Forecast: XAU/USD jumps to fresh multi-week high amid broad-based USD weaknessGold Price Forecast: XAU/USD jumps to fresh multi-week high amid broad-based USD weakness – by hareshmenghani Gold Commodities Fed Recession XAUUSD
Lire la suite »
Euro Technical Analysis: EUR/GBP, EUR/JPY, EUR/USD Rates OutlookThe Euro has been sliding for the better part of the past two weeks, plagued by two main issues: the ECB attempting to wrestle inflation pressures while preventing bond market fragmentation; and growing stagflation concerns.
Lire la suite »
Gold Price Forecast: XAU/USD climbs $1,770 as risk-on rebounds, US NFP buzzGold price (XAU/USD) has displayed a responsive buying action after printing a low of $1,755.00 in the Asian session. The precious metal entered a cor
Lire la suite »
Gold Price Forecast: XAU/USD bulls eye $1,800, but Taiwan is the wild cardThe gold price is dipping below $1,770 in the midday US session from $1,788.12 the high that was scored in the New York open. XAU/USD is down some 0.1
Lire la suite »