Good day traders! Following Christmas and New Year holidays we have seen a new bout of dollar weakness across the board which may not be over yet based on recent price developments.
Cable is making a nice drop from the 1.3650 September high which can prove to be the start of a new bearish trend if we consider that the move higher from January of this year is most probably an ending diagonal.
The US Dollar has experienced a prolonged and material decline in 2017. The DXY index has dropped from 102.80 (2nd January) to 91.33 (8th September), which roughly represents an 11% loss.
The Bank of England’s Monetary Policy Committee met last week and there were some interesting developments. We will try to sieve through the plethora of information and pick what we think were the salient points.
Grega is going over the GBPUSD, GBPJPY, Crude Oil using his Elliott Wave “magic”.
Watch this comprehensive preview from Nicola Duke preparing you for what is coming ahead this week using her unique Harmonics approach and mesmerizing voice.