Most traders simply trade the traditional #EURGBP cross rate.. Learning when and how to switch Cross Currency relationship is crucial even for the slightest reason like a #GBPEUR Cross trade as this defines the POSITIVE SWAP RATES of CABLE would add to an investors net trade position as against a NEGATIVE rates on the #EURO kept overtime. Learning to Master Counter Trade Strategies between these two (2) majors is a MUST, if anyone seriously intend to trade the FX market.
The order of business from the BOE for a rate hike this November have actually been the catalyst for this rally which now has spill over among the European currencies that included the Swiss Franc. This moved initially established a pause for the USD price recovery but still remains that #CABLE sentiments would outweigh investors playing on the long side of the Pound.
The order of business from the BOE for a rate hike this November have actually been the catalyst for this rally which now has spill over among the European currencies that included the Swiss Franc. This moved initially established a pause for the USD price recovery but still remains that #CABLE sentiments would outweigh investors playing on the long side of the Pound.
It didn't take too long for the #EURO to get back where it started from. Trading at the psychological support that used to be a previous resistance at 1.1880 after coming from a high at 1.2092 just within the week. While #CABLE have surged towards 1.3398 along side a USD recovery which maybe at times quite uncommon. Due Diligence!
There are several ways of #FX #trading and the true essence of #investing in Foreign Exchange Market takes a little more #training than what other people present in their sponsored seminars.
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