The GBP/USD is trading on the downside at around 1.3100 after the UK retail sales report saw both total sales and retail sales excluding motor fuel...
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The Euro leaped of weekly low towards 1.1530 but retreated again to trade little changed on the downside just below 1.1500 level after the FOMC minutes showed continued support of policymakers for gradual rate hikes while Italian budget woes continue.
The USD/JPY pair is having a tough time setting its next near-term direction as the JPY stays resilient against the USD amid weaker appetite for risky assets. At the moment, the pair is trading in the middle of its daily 30-pip range around 112.50 and losing 0.13% on the day.
Divided government often means that few new initiatives take place. That would be especially true now in the polarized political atmosphere in the American capital. From a market perspective, with the economic and fiscal program of the current administration fueling a strong economy, no change is good. As this is the highest possibility it is largely priced into the markets.
"A cycle is a recognizable price pattern or movement that occurs with regularity in a specific time period"
"Advisory Opinion, comprised of arguments and trade ideas which have been committed to publication and therefore have an influence on the trading public,
"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..."