Saturday, August 19th, 2017

October 16 – Forex Daily Update


The British Pound was the clear winner yesterday, enjoying a nice rally after failing to close below the 1.58 level. With the sterling now breaking above the 1.6120 level and out of the recent range, we expect it to continue heading higher after retesting support at 1.6120. The Yen has closed above the 90 level and we now expect a test of 91.50. Suisse looks to have stabilized and may allow the buck to etch out some gains to 1.0225 before continuing further south. Please watch the video below as we discuss the support and resistance lines well be using during the next 24 hours. The British Pound was the clear winner yesterday, enjoying a nice rally after failing to close below the 1.58 level. With the sterling now breaking above the 1.6120 level and out of the recent range, we expect it to continue heading higher after retesting support at 1.6120. The Yen has closed above the 90 level and we now expect a test of 91.50. Suisse looks to have stabilized and may allow the buck to etch out some gains to 1.0225 before continuing further south. If youd like a more detailed analysis with potential trade opportunities, please join us in the members section.

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