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Dynamic Trader Blog - Forex Chart Pattern Signals

Tuesday, September 04, 2007

ECB Rate Unchange

Chart courtesy of Metastock. Data provided by Quote Center.
Chart courtesy of Metastock. Data provided by Quote Center.

Above are hourly charts of GBPUSD and EURCHF.

The consensus is for the rate to be unchanged by the ECB on Thursday. We will still have to wait for NFP after that though.

Both the above charts shows shorting opportunities but as the above news is pending we may not see trends at present. Prior to NFP we quite often see consolidation. Trade with a degree of discretion this week.

Good luck.