Yesterday’s Press Conference Gave the USD a Good Boost
GBPUSD – Yesterday Euro zone interest rate and press conference gave the USD a good boost again and this pair got its share as well. Today it is inside a channel and if you are loving trading the GBPUSD then the safer trade levels are going to be at resistance and support levels at the top and bottom of the channel. Resistance levels are good to short especially when the trend is down and that is 1.2950/60 area and supports are good to buy, in this case around the 1.2490/1.2500 levels.
EURUSD – The outlook for this currency pair is at the moment appears like going to be an up move in order for the market to short it once again. So it is worthwhile watching it throughout next week to see if it will make the moves as noted in the diagram below. If this down trend carries on we may see the EURUSD at 1 or even around 0.9000 levels over the course of the next several weeks.
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***Information contained in this news letter are gathered from third parties and should not be regarded in any way as trade advice or recommendations by CM Trading. CM Trading does not recommend or advise traders or investors in their decision making, but merely provides information from the market for its clients as additional information being made available as per the events occurring in the financial markets.
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