A combination of supporting factors helped the EUR/USD pair to continue gaining positive traction on Tuesday and climb to a fresh two-week high level of 1.1362.
The GBP/USD pair trades near the intra-day low of 1.3250 ahead of London open on Wednesday. The pair recently weakened as the US Dollar (USD) registered gains across the board.
The USD/JPY pair eased-off session highs near 111.70 levels and now trades near 111.55 region, as the bulls take a breather amid a typical pre-Fed caution trading and the latest North Korean reports while the US-China trade worries continue to remain a drag.
Central banks and politics could cause turmoil, but no longer can spur growth. Growth is far worse than what the numbers show, recession at risk of materializing.
The United States economy broke out of its decade-long slough in 2018 with its strongest growth since the financial crisis and recession.
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It is too early to tell if the US economy will resume its more than 3% growth of the mid-two quarters last year. The government shutdown and the still pending China trade talks have put a haze of uncertainty over the economy. Currency traders have adopted the patience of the Federal Reserve.
"A cycle is a recognizable price pattern or movement that occurs with regularity in a specific time period"
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"Have you ever read news updates mentioning Elliott Wave yet you don’t have a clue what these mean for the Forex?"
"Support and Resistance Lines conform the most basic analytical tools and are commonly used as visual markers to trace levels where the price..."
