its not going to be a winning strategy. The upcoming week features the second read of GDP among other events. GBP/USD remained pressured once gain even though some data points were. However, the Feds meeting minutes seemed to show hesitation. For instance in producing the outlook for the Dollar and Pound pair, brexit will definitely feature as a key factor or determinant of the direction of interest rates irrespective of whether the particular outlook sees the dollar falling within the particular period or the pound. The big event of the week happens on Friday and Saturday, with the Jackson Hole Symposium. Indicators: Buy 9, sell 0, summary, strong Buy, moving Averages: Buy 12, sell. Forex outlook at any point in time is different because of the many factors to come into play, but a systematic look at the economic events and the players will put things in perspective for the average forex trader.
Gold (XAU) fared well versus the, uS dollar (USD) as the precious metal climbed more than 100 dollars over the last week. EUR/USD dipped, but it was only temporary The terror attack on Barcelona did not seem to affect the common currency. Depending on what type of trader you are, you can either use the Forex Community Outlook as a guide to gauge trend strength or to gauge if the trend is coming to an end.
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There is only a strategy will higher probability and thats probably the only thing we can try to have on our side to increase our chances of successful trades. The cable touched.5550 aiming for higher highs. EUR/USD was pressured and slipped lower, but did not go far. On the other hand, there were encouraging signs from the wage data and also retail sales. To learn more click here. However, it was not enough for the yen. Oil prices also slipped but remained at the higher part of the 40-50 range on WTI.
The content of this article reflects the authors opinion and does not necessarily reflect the official position of LiteForex. That certainly helped the Aussie. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
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