Sterling and Euro held ground today, major fundamental data in the morning with rate decisions for both... Normal I would say strong volume for both during the session before the release of the decision and you know what, I'm saying it, look for stronger volume, more than likely neither will raise rates, but they should..
Ok, Sterling is still below 1.5500, which is bad, Sterling should be above 1.5800... If Sterling can't break and hold above 1.5500 with this fundamental data, than look for a bear as low as 1.5365..
Ok, Euro same deal, needs to stay above 1.3375 and hold, if it doesn't look for a bear as low as 1.3200
I could give technical reading for bullish move by both, but I'm not, technically they are bearish, so the only thing that would change the trend is some Hawish talk from the rate decisions, or actual rate increases, which isn't likely but you never know..
OK, OK, lets talk Sterling and Euro bull, if Sterling hits stay above 1.5444 it technically may bull too 1.5523.. The Euro, if it stays above, 1.3328 it technically may bull to 1.3450.. all before the fundamental data is release (rate decisions)..
Trade with the trend.......
Friday is major fundamentally, so we will have to wait, alot of money is on the sidelines waiting.
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Thank you for your time and have a great day.
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