Trading Support and Resistance- Forex
Let us look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies:For the month of June, I forecasted that the GBP/USD currency pair would rise in value.Last week, I made no weekly forecast, as there were no unusually large counter-trend price movements, which is the basis of my weekly trading strategy.
Last week was dominated by relative strength in the Australian Dollar, and relative weakness in the US Dollar.
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