Finally, there was just news to report today. Both the UK and US have important news.
The UK came up with the same inflation figures compared to last month. In short, the BOE's policy has shown no improvement.
Fed Chairman Powell will also speak. It is already indicated that despite last week's pause, FED officials are still predicting that interest rates could still rise 50 basis points by the end of 2023.
Today's actions:
GBPUSD : This pair fell as much as 0.56%. to a low of $1.2691 after this month's inflation numbers. Inflation in the UK may well be high enough and consistent enough to turn negative for the Pound. Our rating system indicates the following The GBPUSD currently has a score of -3, or a sales rating after adding up all categories. The institutional traders give the GBP a long rate of 52.31%, and we see that the USD has a long rate of 72.7%. This category gets a -1, as institutional traders prefer the GBP.
If we look at GBPUSD, we see that retailers are 30% long and 70% short. If we look at seasonality, we get a score of -1. What this tells us is that based on historical data, this market tends to decline this month.
Trend measurement is based on the daily chart, using the 5, 8 and 21 exponential moving average. The more "aligned" they are, the stronger the trend up or down. In this case, we have a score of +2.
Finally, let's look at the basics. GDP growth is in favor of the USD, inflation is in favor of the USD, unemployment is in favor of the USD, and interest rates are in favor of the USD. We put a sell trade at 1.26500. We expect a down trend towards 1.24266.
S&P500 : in line with the price change, we take a sell trade and let it run to 4322.4. Then we decide whether to move forward. We put the position at 4361.8.
EURUSD : Powell's (FED) expectations push the Euro higher. If we look at the monthly chart we see a large channel in which the pair moves. If the up-trend continues, we will set up a whole process of buy trades.
The UK came up with the same inflation figures compared to last month. In short, the BOE's policy has shown no improvement.
Fed Chairman Powell will also speak. It is already indicated that despite last week's pause, FED officials are still predicting that interest rates could still rise 50 basis points by the end of 2023.
Today's actions:
GBPUSD : This pair fell as much as 0.56%. to a low of $1.2691 after this month's inflation numbers. Inflation in the UK may well be high enough and consistent enough to turn negative for the Pound. Our rating system indicates the following The GBPUSD currently has a score of -3, or a sales rating after adding up all categories. The institutional traders give the GBP a long rate of 52.31%, and we see that the USD has a long rate of 72.7%. This category gets a -1, as institutional traders prefer the GBP.
If we look at GBPUSD, we see that retailers are 30% long and 70% short. If we look at seasonality, we get a score of -1. What this tells us is that based on historical data, this market tends to decline this month.
Trend measurement is based on the daily chart, using the 5, 8 and 21 exponential moving average. The more "aligned" they are, the stronger the trend up or down. In this case, we have a score of +2.
Finally, let's look at the basics. GDP growth is in favor of the USD, inflation is in favor of the USD, unemployment is in favor of the USD, and interest rates are in favor of the USD. We put a sell trade at 1.26500. We expect a down trend towards 1.24266.
S&P500 : in line with the price change, we take a sell trade and let it run to 4322.4. Then we decide whether to move forward. We put the position at 4361.8.
EURUSD : Powell's (FED) expectations push the Euro higher. If we look at the monthly chart we see a large channel in which the pair moves. If the up-trend continues, we will set up a whole process of buy trades.