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Initial powerful losses in Cable Tuesday extended the two preceding day’s decline but these losses were entirely reversed by the close. But the bounce was able to only reverse half of Monday’s net downside and some selling has returned in Asia. It is the downside rejection, however, that is assessed as the key feature. Therefore our call [...]
The charts below are for each of the G10 currencies versus an evenly weighted basket of the remainder of their G10 peers. The charts are small (as we work on updating the blog to allow links to larger graphics), but they nonetheless do cover quite a bit of ground – 2500 data points for each [...]
The GBP/USD cross has experienced a bullish trend for the past day. However, it seems that this trend may be coming to an end, as described below. Forex traders can take advantage of this imminent downward movement by entering short positions at an excellent entry price. • The technical indictors used are the Slow Stochastic, [...]