EUR/USD and GBP/USD Forecast Update

The euro and the pound you can see the Euro has rallied a bit during the trading session but then fell off again forming a little bit of a shooting star type at Candlestick not a huge surprise we are you know towards the top of this range and as you can see we have seen the market show exhaustion at the same place before so it makes sense that we continue to see you know it’s kind of a back and forth right here at the 200-day the 112 level and the fact that the jobs number comes out during the Friday session so with that being the case I believe that we are going to see the market just kind of drift lower perhaps trying to bang around between 110 75 and 112 over here in the British Pound we have rallied a bit looks pretty good but the reality is that the 130 level continues to be an issue and it’s not until we break well above 130 that it’s a longer-term signal to start by and probably looking towards 133 now what I do think is more likely is that we pull back find buyers underneath and therefore I like the idea of buying value as it shows itself and on top of that the market is more than likely going to continue to see headlines move the Praxis I think we’re starting to see the marketplace really start to price on the idea of Brexton not be in a no deal for exit and that in and of itself is a victory of sorts again though 133 I think would be your target based upon the pole of the potential flag we could be looking at 138 or so.

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