As promised in Friday’s market analysis of the daily chart, I thought we would look at the weekly chart for the dollars to pounds pair, as this may provide a clue to the future direction for the pair in the medium term. As we can see, and certainly helped by the NFP data on Friday [...]

Little to add to last week’s candle chart for the pounds to dollars currency pair.  Last week’s candle provided a small hammer which finished well below all three moving averages but provides little in the way of direction for this week’s trading and only confirms that British Pound bears failed to break the 1.3500 level.
Although [...]

Last weeks candle provided little in the way of direction for this week, and the sideways movement continued albeit with a bearish bias, and until we see a breakout from the current trading range, in my view this pair is impossible to trade with any degree of confidence. Whilst the general sideways trend is bearish, [...]

A glance at the weekly candle chart for the pounds to dollars currency pair is enough to confirm what we already know from the daily charts, in that the pair are consolidating sideways, with a skew to the downside, a view reinforced this morning with the gap down in early trading. The doji candle of [...]

Unfortunately the weekly candle chart tells us very little, either in the way of a new signal, or confirming anything that has gone before, ending the week with a narrow spread spinning top doji. In the last 14 weeks we have seen two bearish engulfing signals and one bullish engulfing, so on the balance of [...]

Following last weeks candle we now have a clear bearish engulfing trading signal for this week, with the wide spread down bar wrapping around the up bar of the week before. This is the second such signal in the last 2 months, which will tend to suggest we should expect to see lower prices this [...]

Last weeks candle saw an up bar to add to that of the previous week, which reached but failed to penetrate the key resistance level at 1.4800, although both the 9 week and 14 week averages were crossed. This is a very tough decision at the moment, and much will depend on the early part [...]

Last week saw a wide spread up bar on the pounds to dollars chart, which reversed the losses of the previous week, but provided little in the way of information for us as traders. The closing price on Friday failed to penetrate the 9 week moving average, and therefore based on the weekly analysis, the [...]