Trading Support and Resistance for some major Forex pairs
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 month of August, because I do not see any trends in the Forex market which look reliable enough.The final performance of this forecast was as follows:Last week, I made no weekly forecast, as there were no unusually strong counter-trend price movements.
with only 7% of the most important currency pairs and crosses fluctuating over the week by more than 1%., as we have a release of US CPI data due, which tends to be the main driver of the Forex market these days. Last week was dominated by relative strength in the Japanese Yen, and relative weakness in the Australian Dollar.
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