After successive losing days, my gamble on a GBP retracement paid off. Good to finally have a large one in the bank. Will keep watching GBP crosses for the next tradable trend wave. Also eyeing a couple of other setups. Meanwhile, the USD remains range bound; but it's a no go area pre-NFPs as the fundamentals (ADP vs ISM) are conflicting. Hopefully NFPs should be the tiebreaker. Happy trading folks.
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US dollar to strengthen on rate hike speculations
Hello everyone,
Welcome to the new month. It's likely to be a turbulent month in fx and equity markets . This is the final month before the US elections. The US dollar is at crossroads. On the one hand, economic indices point to a recovery and fuel the need for a rate hike. On the other hand, the upcoming elections create an air of uncertainty for speculators and all other central banks from Europe to Asia are actually easing rather than tightening monetary policy.
A look at the technicals revea…
Welcome to the new month. It's likely to be a turbulent month in fx and equity markets . This is the final month before the US elections. The US dollar is at crossroads. On the one hand, economic indices point to a recovery and fuel the need for a rate hike. On the other hand, the upcoming elections create an air of uncertainty for speculators and all other central banks from Europe to Asia are actually easing rather than tightening monetary policy.
A look at the technicals revea…