Last week, the pair was down 5 days in a row The GBPUSD fell on each of the trading days last week. Concerns about Brexit progress reared it's ugly head once again and traders were not encouranged. The price moved below the 38.2% of the move up from the March low at 1.21737 and the […]
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USDJPY moves higher with help from the stocks
Major indices have big pre-market gains The US stocks are trading sharply higher ahead of the stock market official opening at the bottom of the hour. The Dow is up 685 points. The S&P is up 72 points and the Nasdaq is implying an opening of +130 points. The S&P gain is about 2.5% from […]
EURUSD runs higher. Extends narrow range.
The EURUSD was in a 28 pip trading range The EURUSD has run higher and in the process, has extending the range to the upside. The range was only 28 pip to start the trading day. It is currently at 44 pips. The 22 day average is 75 pips. There is still room to roam.
AUD/USD a little higher on positive risk tones but sellers keep near-term control
AUD/USD trades higher to start the day, but key near-term levels still intact See here for global coronavirus case data The aussie leads the charge in the major currencies space, as we see equities keep more upbeat in European morning trade. That is helping AUD/USD to trade around 0.6440 levels currently, with the pair up […]
Cable keeps above 1.2100 to start the session but pound still faces major headwinds
The fundamentals are starting to weigh further on the pound The spectre of a no-deal Brexit and a more dovish BOE are reasons that are increasingly likely to weigh on the pound further in the coming weeks, as seen above.
Gold shines brightly to kick start the new week
Gold builds on the bullish breakout to its highest levels since October 2012 See here for global coronavirus case data Upon the topside breakout from the narrowing wedge last week, gold made strides towards testing the previous year's high and tested waters just above that in late Friday trading.
When can we safely ignore news events?
Great views on news Are you Looking to trade news events? to learn more about trading high impact news events Checkout ForexSource.co See here for global coronavirus case data
Best time to take swing trade entries?
When is the best time to enter swing trades? Are you Looking to take a swing trade right now? to learn more. Checkout ForexSource.co See here for global coronavirus case data
60% trade will come into UK tariff free with new UKGT regime
<p>UK announced a new post-Brexit MFN tariff regime today, called the UK Global Tariff (UKGT). This will replace the EU’s Common External Tariff starting on January 1, 2021, at the end of the Brexit Transition Period. Under the new regime, tariffs on a wide range of products will be eliminated. 60% of trade will come […]
UK claimant counts jumped 8655k to 2.1m in April
<p>In April, UK claimant count, a measure of number of people claiming unemployment benefits, jumped 865.5k to 2.097m. The range of forecasts for this data was wide, from 60k change to as many as 1.5m. The released data was slightly on the high side. Claimant count rate rose to 5.8%, highest in over two decades. […]