Check out this week's Trading Support and Resistance- forextrade forextrading
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:I make no forecast for the remainder of the month of November, I think markets are too unsettled to look beyond the next few days.
Last week, I forecasted that the GBP/JPY currency cross is likely to rise in value over the coming week. Unfortunately, the price fell by 1.52% over the week, as the Yen was even stronger than the Pound., with 70% of the most important currency pairs and crosses moving by more than 1% in value.Last week was dominated by relative strength in the Japanese Yen, and relative weakness in the US Dollar.
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