sterling in friday.was consolidating between 1.5417 and 1.55(psychological level).gbp closed around top of ichimoku cloud and await for monday.this week we'll see PMI's for U.K.these data will be really important for this pair because if we'll see bad news then market might reversal from 1.5440/50 area if good then price will be heading to 50% retracement 1.5595/1.5605 levels,please be carefully with this level because brakout it should take sterling up till 1.5770/80 area in next few…

the question for last few weeks for U.K was ''U.K. will get into triple recession or not'' situation after todays gdp data was little changebut its not mean U.K.doing well,we have to wait for another good data to confirm it for example next week we'll see PMI's and many other in next few weeks,GDP rose from 0.2% to 0.6% YOY.it was great data for them.sterling broken important ressistance 38.2% retracement 1.5412/22 level and its heading to 50% retracement 1.5600/04 level. in my opinion is…

trade for next few days.price on daily charts shows uptrend channel and actually is on the bottom of channel,breakbottom line 1.5170 in my opinion should sterling get to 1.5032 if won't break next level is 38.2% fibo 1.5424 so we should sell on this position with the 1.5075 or even 1.5032 target.daily charts shows abc formation(correction) what ussually mean another waves down soon.brakthrought 1.5424 might invalidate this scenario and the price will start heading to 50% fibo…

A strong up-move yesterday saw losses from last Friday recovered, with the market moving to almost the high of last week. This has seen an improvement in sentiment, and will encourage investors to remain positive. However, the strong recovery has been partly corrected in overnight trading, and whilst below 148.00, some indecision is likely. In light of this signals are positive with scope for 148.00/30 area.…

Last week saw an end to a sequence of 4 positive weekly performances and a complete change in investor sentiment.

The resulting deterioration was the most aggressive for more than 2 years with the preceding week's entire upside reversed- sold at lower levels on each day. This move emphasised the importance of the failure to test a key 76% recovery point and with prices now hugging the lower end of the Keltner channel we look for a bearish trend to develop.

Allowing for initial…

Both the euro and the Japanese yen made newsworthy counter-trend moves against other major currencies near the end of the 4 - 8 February trading week. Since I've spilled plenty of ink on the Euro Yen in recent Trade of the Week (TOTW) posts, I'm going change it up this week and focus on the British pound, which made a notable counter-trend move against the US dollar.

For the conservative trader, taking a position against the prevailing multi-week trend can be tough at best,…

Friday’s gains were entirely reversed by profit taking yesterday. Steady selling throughout the day was as strong as Friday’s rise and these conflicting sharp moves make signals for sentiment difficult to determine with conviction. However with selling pressure deepening in Asia there is no sign yet that yesterday's decline has based.

So the tone is assessed as Bearish but with the potential for an early rally to .8580, the overnight top. The immediate target is.8539. A move through…

The last 4 days have seen consolidation around .8600 after Monday's gains extended the last 3 weeks of upside.

However the last 3 days have seen consolidation and a growing divergence in momentum that should be a warning sign to bulls.

Despite gains overnight we look for a more significant corrective move back towards .8528.

Only hourly close beyond .8607 negates that view.…

FX - EURO





The EURO closed lower on Friday as it consolidated some of last week's rally. The lowrange close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this…

The US dollar declined against the major European currencies for the second consecutive trading day. High risk-to-reward long trade setups on the EUR/USD and GBP/USD currency pairs materialized during the third hour of the New York morning session.

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Curt…

My picks for Trade of the Week (TOTW) have consisted largely of trade setups which materialized during the New York morning trading session. As FX Bootcamp's trader coach covering that session, I'm likely a bit biased toward that session spanning from 8:00 a.m. to 12:00 p.m. New York time, yet I've not deliberately sought to exclude opportunities for entering trades during the London session in my past TOTW posts. I always strive to conduct an objective review of all reasonable trade setups…

The British pound recouped its London session losses against the US dollar during the final three hours of the European trading day. A 50-pip rise on the pair known as cable was the highlight of an otherwise lacklustre post-NFP Monday.

Curt Wehrley

Twitter: @fxcoachcurt

Currency Strategist &…

Patience was key to profiting from trades taken in today's rather lacklustre New York morning trading session. Shorting the US dollar against the major European currencies was generally a profitable strategy, although picking the right horse did make a difference.

Curt Wehrley

Twitter:…

Logical opportunities for currency traders to hit the buy button materialized on multiple major currency pairs during today's New York morning trading session. Cable stole the spotlight with a 120-pip rally which started soon after the U.S. equity market open.

Curt Wehrley

Twitter: @fxcoachcurt…

The U.S. dollar was mixed on the final day of July as markets awaited multiple major news events splattered over the second half of the trading week. Greenback bulls and bears alike found logical opportunities to profit from price action on two major currency pairs.

Curt Wehrley

Twitter:…

The Office for National Statistics (ONS) is scheduled to publish UK first quarter growth domestic product (GDP) data on Wednesday at 9:30am London time (4:30am New York time). The ONS publishes three separate GDP estimates over as many months for each quarter. Tomorrow's preliminary release will provide the first estimates of GDP figures for the first quarter.

As the graph below illustrates, the UK has recently wavered between…

The United Kingdom's Office for National Statistics is scheduled to release its latest labour market statistics, including the number of people claiming Jobseeker’s Allowance (JSA) in February, at 5:30am New York time (9:30 GMT).

Volatility in the claimant count change data has lessened over the past several months, as has the response of the GBP/USD currency pair to the report:…

The British pound rallied against multiple major currencies over the course of the European trading day.

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Curt Wehrley

FX Bootcamp's…