Dollar edges higher; sterling weakens ahead of BOE meeting

Ouch, that’s a bummer. The drop in November marks the steepest downturn in UK construction output for five-and-a-half years, with all three subsectors seeing the greatest fall in activity since May 2020. That comes amid a sharp reduction in both new orders and employment. Meanwhile, business optimism also sank to its weakest since December 2022….

Are you having trouble making money in Forex trading? The currency markets can be very unpredictable. But, there’s a tool that can help you. It’s called the MACD indicator. This guide will teach you how to use it to improve your trading. The MACD indicator is special because it looks at trends and momentum together….

The EURJPY moved higher earlier today, breaking above the 100-hour MA (blue solid line on the chart below) in the process (currently at 166.679. The subsequent move higher extended toward the 100-day MA (step blue line on the chart below) in the Asian and early European session, but fell short of that target at 167.98….

The ECB is done, the Fed is just starting. If the divergence in monetary policy means anything to Forex, the EURUSD will go up. Yes, the yield differential of American bonds is still significantly higher than that of their German counterparts. However, historically, a narrowing of the spread leads to a strengthening of the euro….

Hello traders. Welcome to a new blog post where we discuss recent trade setups from the blue box to the Elliottwave-forecast members. In this one, the spotlight will be on the USDCHF currency pair.  The USDCHF currency pair remains clearly bearish. This trend is driven by dollar weakness since September 2022 and more recently January…