FOREX EUR USD: Euro/Dollar: Euro Can’t Strengthen below 1.0600. 26 Novembre 2015.

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Yesterday’s Trading:

On Wednesday the EUR/USD renewed its minimum after American data came out positive; the number of initial applications from unemployment benefit was down significantly with durable goods orders up along with new housing sales and business activity in the service sector. Since the euro/dollar has reached a support, as the US holiday approached yesterday, a fixing of profit on USD long positions began. The euro/dollar headed back up another 75 points to 1.0641.

FOREX GBP USD: Pound/Dollar: Expected Rise to 90 Degrees. 26 Novembre 2015.

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My GBP forecast worked a treat. Due to a rise in the dollar, the GBP/USD dropped to 1.5055 and before the US holiday the price renewed to 1.5135. A double bottom formed with the 1.5114 maximum broken. The calendar is empty, so I expect the pound to strengthen to 1.5189 in the first half of the day. Low activity is expected for the market this evening. The rate should return to around 1.5120 on a thin market.

FOREX GBP USD: Pound/Dollar: Expected Rise to 90 Degrees. 26 Novembre 2015.

FOREX EUR USD: Euro/Dollar: 50/50 Situation. 25 Novembre 2015

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Yesterday’s Trading:

On Tuesday, euro/dollar trading closed slightly up. Support for the rate came from euro crosses. The dollar also weakened against the Japanese yen and Swiss franc. They became safe haven assets as geopolitical tensions were ratcheted up; yesterday the Turks shot down a Russian plane. Oil and gold is up and the euro has a positive correlation with these commodities.

FOREX GBP USD: Pound/Dollar: Expected Rebound from Daily Support. 25 November 2015.

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Carney and Haldane aided the pound to pass exactly as I forecasted. My euro expectations didn’t come off, since the euro pound cross rose due to active pound sales. The Bank of England’s Mark Carney announced that the interest rate for the country will remain low for some time. The Bank’s economist Haldane announced that the risk balance for the UK economy and inflation is skewed downwards.

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