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Forex Signals - The rise of pound

On Thursday, October 15, 2009, the situation on the market developed quite intensively and Forex signals providers were very active. At first EUR/USD reached the day’s maximum of 1.4967, but then began to fall down and rolled back to 1.4842, having lost more than 100 pips. That was the result of relaxation on American stock exchanges. But Euro managed not recover very fast and end the trading day at 1.4950.

But the most interesting things were happening with GBP/USD. The pair started moving upward at 1.5980 and then had broken through 3(!) very important levels – 1.6000, 1.6100, 1.6250. This was the result of negative data from the USA and the decision of BCB not to let the British currency fall low against USD, which is falling down against all rival-currencies. That couldn’t be missed by traders and Forex signals systems developers.

USD/CHF began the trading day with testing the level of 1.0120, but after that USD went up quite fast. Having reached 1.0196 the price fell down and set at about 1.0145. USD/JPY was to rise from 89.25 to 90.77 (more than 150 pips), but then a correction, expected by Forex signals providers, made the price go to 90.50.

The main news to be taken into consideration by traders and Forex signals providers on Friday, October 16, 2009, are to come from the USA: Net Long-term TIC Flows, data on Industrial Production and University of Michigan Confidence.

Speaking about price rages it could be admitted, that very fast fall of USD can lead to unpredictable stabilization efforts by the leaders of Central Banks, which can be quite a surprise for Forex signals providers and traders at all. So, EUR/USD is likely to continue rising to 1.5000, USD/CHF is expected to remain between 1.0100-1.0200; USD/JPY might be trading at about 89.50. And GBP/USD may fall down to 1.6230 as quickly, as it rose up.

by Jonathan Halprid
January 1, 1970
See Forex Analysis and Forex Forecasts for the previous days there:
January 1, 1970 USD - falling down awfully!
October 13, 2009 An interesting position of USD
October 9, 2009 USD - probable recovery.
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