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Daily Forex News and Analysis — September 17th 2017

The EUR/USD pair rose by 0.22%, closing the week at 1.1945. The GBP/USD pair increased by 1.45%, closing the week at a 1.3595 exchange rate. London is on high alert following a deadly attack on Friday morning. Thirty people were injured after the explosion on a train at Parsons Green. An 18 year old was arrested at the port of Dover on Saturday morning in connection with the incident. Gold dropped by 0.31%, as of last week's market close, closing at $1,325.20. […]

Oil Rally Faces No Obstacles

Crude Oil is likely to close this trading week in the green. Today, Brent Futures are trading higher at $55.63 per barrel. The benchmark grade from the North Sea received a boost from the news about high compliance with the deal on oil output cuts by OPEC and non-OPEC countries According to fresh estimates, the group's compliance with agreed production cuts rose to 82% from 75% earlier. The US benchmark is […]

Fibonacci Roles and Filters — Part 5

Chris in this video looks at fibonacci roles and filter. First of all, Chris himself is a big fan of fibonacci. He loves trading using fibonacci and it is one of the best tools out there, and it gives great support and resistance levels. It can be used for directly for exits and entries. It can also be used for filtering out bad setups. So, you get a lot of good reasons […]

What Is The London Inter-Bank Offer Rate (LIBOR)?

Libor is the world's most widely used benchmark for short-term interest rates. It serves as the primary indicator for the average rate at which the banks that contribute to the determination of LIBOR may obtain short-term loans in the London interbank market. Currently, there are 11 to 18 contributor banks for five major currencies (USD, EUR, GBP, JPY, CHF) giving rates for seven different maturities. A total of 35 rates are posted every […]

GBP/JPY Remains on the Upside — Forecast — September 15th 2017

In this video, the Trading Central looks at the currency pair USD/USD for the September 14th session. GBP/JPY — Looking at the intraday 30-min chart, the pair has broken above the declining trendline. It remains supported by the rising 50-period Moving Average. It is hovering above the strong horizontal support at 146.55. Further advance is expected towards the Thursday's top at 148.35 and the next target at 149.10 extension.

GBP Rallies Against USD amid BoE Decision

Today the pound sterling has jumped against the US dollar. Traders rushed to buy the pound after the Bank of England announced its decisions on monetary policy. The UK regulator put the key interest rate on hold at a record low of 0.25%. Seven members of the Monetary Policy Committee voted for keeping interest rates unchanged, but Ian McCafferty voted for tightening monetary policy. However, the pound sterling received a boost against the US dollar […]

USD/CAD Is Supported By a Rising Trend Line — Forecast — September 14th 2017

In this video, the Trading Central looks at the currency pair USD/USD for the September 14th session. USD/CAD — Looking at the intraday 30-min chart, the pair remains supported by the rising trendline, in place since last Tuesday. It also remains supported by the rising 50-period Moving Average. Further advance is also expected above the strong horizontal support above 1.2125 The first target is set at 1.2215 and the next target at the horizontal resistance at 1.2245 […]

Euro Suffers Pressure from Greenback

During the late session on Tuesday, the EUR/USD pair was sharply heading downwards. The single European currency came off early highs and dropped below 1.1920 against the US dollar. The EUR/USD pair was close to 1.20 levels after strong data on inflation and industrial production were released in Germany and the euro area, respectively. Later, trading sentiment changed as market participants shifted their attention to the greenback. It was the producer price […]

Daily Forex News and Analysis — September 14th 2017

US stocks closed higher on Wednesday as renewed hopes of tax reform lifted sentiment. The Dow Jones rose by 0.18%, the S&P 500 by 0.08%, and the NASDAQ added 0.09% to its value. The US dollar traded higher against a basket of major currencies on Wednesday, shaking off downbeat economic data showing wholesale inflation undershot expectations ahead of&consumer inflation data due Thursday. Today, the Unemployment Claims is expected at 303K vs. […]

IEA Report Boosts Rally in Oil Prices

The monthly report of the International Energy Agency boosted a rally in oil prices. At the same time, the API inventories data became less important to investors. However, this report is still worth the attention of traders. According to the American Petroleum Institute, the stockpiles of Crude Oil in the United States rose by 6,181,000 barrels. The official data will be released today and investors fear that it will confirm an increase. That is why the WTI […]

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