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Nkereuwem Akan
Nkereuwem Akan
Correlation of Currencies
Correlation Of Currencies I feel it would be worthwhile to give out a little, but, important information on currency correlation. Possessing the knowledge of how currencies are correlated could prove to be very important to your trading arsenal. It's
Nkereuwem Akan
EURUSD: Lots of pips for the day. If you followed my signal yesterday, you must be smiling to the bank. Happy trading and have a fun-filled weekend.
Nkereuwem Akan
EURUSD: Fed minutes for October release earlier today sounded a little bit dovish and the market reacted thus. Members did debate raising interest rate but the majority supported maintaining the current rate which remains at zero. At this point, I supposed Technical Analysis would provide a clearer view of the market. Despite the mildly dovish tone, it does not imply a weak US dollar as the bullish rally bounced of the 200MA and stochastic in the overbought region in the 4H chart. It will take a sustained break of the 200MA and consolidation above the MA to push the price upwards. For the time being, I still go with the bears.