EUR/USD and GBP/USD Forecast September 10, 2020

by birtanpublished on September 30, 2020

from
daily forex this is chris taking a look
at the euro and the pound and as you can
see the euro has rallied a bit
breaking above 118 during the trading
session but then
um you know kind of gave back a little
bit here
to me this is a market that is kind of
it's leaning lower so we'll see the ecb
coming of course will
have a major influence on what happens
next
and who knows what they'll say i do know
they don't like it above 120
so really at this point in time
it's likely that they will fade
short-term rallies
try to push it below 117 and get the 115
that's not necessarily what i'm
willing to put into the market right now
but
if i had to guess that's probably what's
going to happen
a lot of volatility who knows what the
ecb says but it does look like it's
getting a bit tired
british pound well you know we formed a
hammer and that's great but this is
we're going right back to the brexit
nonsense so this was based upon the fact
that the eu is
not ending in terminating the
negotiations even though the uk is
supposedly doing something that
kind of breaks international law i'm not
real clear on that
but as soon as
from the ecb said oh no we're gonna
still talk you can see what happened
um so i don't know how sustainable that
is to be honest with you
this could be thought of as a binary
trade you enter on one side you put your
stop on the other
if we drop 127 and a half is your target
if we break higher you could be looking
at 135 but
um this is going to be just like it was
about a year ago
where the headlines would come out or
rumors have come out on twitter and
you'd see a sudden 50 or 60 pip pop
you're gonna have to be very careful
trading this market
you

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