New week in the forex market: Early indications show pressure on the pound – ForexLive

How is the open shaping up?

The US dollar slumped on Friday after a soft UMich consumer confidence survey but early indications are for little follow through at the open. Instead, the pound is indicated weaker.
  • EUR/USD +3 pips to 1.1794
  • USD/JPY +12 pips to 109.69
  • GBP/USD -26 points to 1.3837
  • USD/CHF -6 pips to 0.9154
  • USD/CAD +7 pips to 1.2520
  • AUD/USD -1 pip to 0.7368
  • NZD/USD +2 pips to 0.7039

I would put a big caveat on that GBP/USD number until liquidity picks up because I don’t see any relevant UK news. All the headlines are about UK parliament being recalled over Afghanistan and Tottenham stunning Man City.

Here was how the daily cable chart looked at the close on Friday:

Invest in yourself. See our forex education hub.

Adblock test (Why?)

Scalping Strategy Course (DVD + Online) - $299.00

In the much anticipated Forex Scalping Strategy Course, Vic and Sarid show you short-term focused techniques and strategies to make quicker profits while reducing market exposure.

Forexmentor Coach's Corner First Month (Online) - $149.00

The Coach's Corner offers 2 live sessions per week, an integrated approach to trading, FREE access to the VicTrade video course and Darko's Pattern Trading Video Lessons.

Source link

Have your say