The Fed policy hold in September shows that the EURUSD has a Fair Value of 1.1250. Any positive data will push price below this price and present an opportunity to get back in on the resulting corrections.
The entry is set near closest Support line 1.1180.
Full trade plan here: ...
The GBP has lost value over previous couple of weeks due to confusion around article 50. All fundamental data shows the british economy is currently performing well so I expect to see this bounce back up above 1.3. Great chance to buy using a tight Stop Loss.
The dollar was overbought today and the pound oversold on the back of both dovish fed talk and netural to weak UK inflation.
Now is a good time to buy the pound going into tomorrow's labour report.
If you do enter the market, make sure you exit or at least minimise risk in the minutes running up to the labour ...
When US traders return following labor day it is expected they will buy the weak USD on back of a poor labour report and buy the GBP which has seen some strength from good data throughout August and now continuing into September.
The EURUSD has climbed above the Swing High Resistance (SHRe) and can be safely sold with a 100 pip stop loss. I have entered at 1.12864.
Tomorrow the Euro infaltion result may be strong in which case, ride it out as trade should really only be aborted if the Dollar unemployment claims and manufacturing index's ...