Check out this week's Forex Forecast- Forex Trading FX Money Markets
which made the highest weekly close seen since April this year. The price also reached a new long-term high and closed above the high of last week - these are bullish signs.price can probably advance quite easily to the big round number at $2,000the technical picture still looks bullishprint a small bullish near-doji candlestick
which made the highest weekly close in ten months. The price also reached a new long-term high - these are bullish signs, but it must be said the bullishness is looking a bit weakprice can probably advance quite easily to $1.0937 at leastthe technical picture still looks bullishhe price of this currency pair is likely to continue to rise this week, in line with its long-term trend. Long-term trends are statistically notably reliable in this currency pair.
The advance by the Pound was boosted by relatively high UK inflation data, currently sitting at an annualized rate of 10.5%, which is making the market think that the Bank of England will be very likely to make further rate hikes soon., in line with its long-term trend. However, bulls should watch out for the yearly high at $1.2437, which is likely to act as strong resistance
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