🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

EUR/USD Not A One-Way Bet

Published 23/11/2015, 18:13
EUR/USD
-
GBP/USD
-
USD/JPY
-
USD/CAD
-

Steven Woodcock, Senior FX Analyst for Plutus FX, joined Zak Mir on the Tip TV Finance Show to discuss some major forex pairs including EUR/USD, GBP/USD, USD/JPY and USD/CAD.

EUR/USD a range trade, still chance for a bounce

Woodcock outlined that he is not totally convinced that the EUR/USD is a one-way bet, with the chance for a bounce ahead. He continued that the market is factoring in ECB easing, but for now he urged to buy the dips around 1.06 and sell around 1.0740.

Cable searching for direction

Woodcock continued that the GBP/USD can be put on the side-lines at the moment, whilst it lies in the middle of the range between 1.5050 and 1.5450. Woodcock concluded that we are still in a USD uptrend until we see action from the Fed and the ECB.

Watch the video to see further analysis on USD/JPY and USD/CAD.

Original post

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.