Market Review fo Next week

After BOE increase their rate last thursday GU come down as market exepected. current price is 2.0104, drop from 2.0200. this condition is much affected by technical rather than fundamental, since i can see all indicator say it's already overbought. i'm expecting GU will Come down till 1.9900 area before it continue to move upward till 2.0300. There are some high impact news will be realesed from UK and US. from UK there are PPI Input on moday forcasted to be bad. and also released data fo Trade balance from UK and US. both data will affect the market. choppy market will be expected. next week will be interesting, every issue can ruin all the scenarion. happy trading :)

Market Review For The Week Ahead

GBP/USD

There are several important news coming out from UK and US next week, there are PPI Input on monday from UK with previous value 0.7%, and forcasted to be down to 0.6 %. and also CPI report on tuesday with value 2.8%, and forcasted to be down to 2.6 %. From US PPI and CPI report on Thursday and friday forcasted to be better.

with all data forcasted for next week, I'm expecting G/U to break 1.9600 before it continus to move downward. but if G/U maintain above 19700, then be ready to reload ur long and 2.0050 will be the target.

Dollar continue to strengthen today

The dollar keep on strengthened because the market continued to respond to yesterday's jump in US Treasury yields, which reflects the growing expectation that US interest rates will remain elevated. this will make US dollar Bullish in the middle term

Poundsterling falls after BoE leaves rates unchanged

Today BOE announce rates and keep unchange it from 5.50%. this caused GBP collapse all across the board. Market still believe that we would have rate hike to 5.75 % on july 2007. meanwhile. buying dip is still my favourite

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