The USD continues to strengthen. It has spent most of the past two years consolidating, and there is a lot of speculation that it is finally coiling up for a directional move.
About two weeks ago I covered
Last Friday, around about the time that Tokyo opened for business, the British Pound plummeted dramatically in less than three minutes, recovering quickly by about 70% of its fall over the subsequent four minutes. The maximum fall was by approximately 700 pips, or a change of 5.5% in value, in the key benchmark GBP/USD currency pair.
Anyone who has ever opened up a Forex price chart has probably noticed that you can view that action in a number of different times frames, usually from 1 minute to 1 month. All this means is; which time interval is used in the X-axis of the chart. For example, in a 1-minute chart, each candlestick or price bar shows what happened over 1 minute of time.
It has been a quiet week in the markets so far and even as we come to the U.S. open as I write these words, the markets remain quiet. This might change later today, but as there isn’t much news right now I thought I would write about a few fruitful places traders might be able to find trending currency pairs to exploit.
I didn’t post yesterday as it was a very quiet Monday with not much going on in the market, and I knew anyway that after last night’s debate of the two major U.S. presidential candidates I probably would have something to say, so here it goes.
Last month The Bank for International Settlements released their latest
Yesterday the Federal Reserve made its monthly announcements, which included the news that its interest rate would be left untouched, as well as some economic forecasts.