“Don’t question the rally in Pound”, says Ian Foster of Be A Winning Trader, as he joins the Tip TV Finance Show and offers the outlook ahead for the Dow Jones Index, FTSE 100, GBP/USD, and EUR/USD.
Highlights:
“Dow Jones Index – The index saw a 780 point rally in 3 days. Just trade what you see. Any retracement at this stage is a buy opportunity.”
“FTSE 100 - smaller time frame chart shows consolidation,.but does not mean it won’t break higher.”
“Cable – We have been in congestion for last week and this week. It does look stronger. What is holding it back are the dovish expectations from BOE. Would be looking to buy cable on any retracement.”
“EUR/USD – still a long way to go to signal bearish invalidation. Post Brexit low a strong support, more losses below the same.”