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Since not only a new month has started, the best way to asserts the probability of where the market is likely to be heading in this month is for us to look at the seasonality patterns. The seasonality cycles will bring in a new dimension in which you can analyse the market. Seasonality are a predictable change in price that repeats every day, week, month, year at the same period in time.
You can find more details how this seasonal patterns affect the exchange rate and more importantly how to correctly use them in your trading activity in one of my articles here:Seasonal cycles in FX Trading
This seasonality cycles will only give you the tendency of an particular currency pair to bottom or top or rally or fall, at certain point in time. Going forward we're going to analyse what are the November seasonal patterns in FX market.
The same as the euro, pound has the tendencies to strengthen during this time of the year, and we can see some positive return. The price action looks like we're into a big range consolidation, and as the dollar is pausing we can see some gains in cable but still we can expect only a moderate rally. Check out my fractal map that I've been using over the past few months and which has proven to be quite accurate(see my blog).
We can see again the same pattern where the dollar is weaker in April, so it's not about that this pair are stronger but it's more a function of the dollar seasonality pattern. But taking in consideration the fundamental aspects of aussie I think we should expect further weakness as RBA may be cutting interest rates as soon as next meeting, which is in coming week.
For the yen it's a different story altogether as there is no clear direction and us such we should focus more on the technicals and fundamentals.
Best Regards,
Daytrader21
You can find more details how this seasonal patterns affect the exchange rate and more importantly how to correctly use them in your trading activity in one of my articles here:Seasonal cycles in FX Trading
This seasonality cycles will only give you the tendency of an particular currency pair to bottom or top or rally or fall, at certain point in time. Going forward we're going to analyse what are the November seasonal patterns in FX market.
- Euro April Seasonal Pattern
- GBP April Seasonal Pattern
The same as the euro, pound has the tendencies to strengthen during this time of the year, and we can see some positive return. The price action looks like we're into a big range consolidation, and as the dollar is pausing we can see some gains in cable but still we can expect only a moderate rally. Check out my fractal map that I've been using over the past few months and which has proven to be quite accurate(see my blog).
- AUD April Seasonal Pattern
We can see again the same pattern where the dollar is weaker in April, so it's not about that this pair are stronger but it's more a function of the dollar seasonality pattern. But taking in consideration the fundamental aspects of aussie I think we should expect further weakness as RBA may be cutting interest rates as soon as next meeting, which is in coming week.
- JPY April Seasonal Pattern
For the yen it's a different story altogether as there is no clear direction and us such we should focus more on the technicals and fundamentals.
Best Regards,
Daytrader21
