Dollar Versus Pound and Euro October 2nd

FX Strategy Video > Currency Pairs Analysis

GBP/USD fell during the session after initially gaining on Monday. The candle for the day was a shooting star, and it formed at the bottom of a down move, normally a bearish sign. The move looks like it is setting up to fall a bit more, but with this trend being so strong to the upside, we are looking to buy on signs of support at 1.60, not selling.

The EUR/USD pair saw strength during the session, and as a result we think the pair will continue to grind higher. The Federal Reserve continues to print money like it's their job, (And it seems to be.) and this will continue to give this pair a lift in the near term.

Published on 2nd of October 2012
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