Still Looking for the Dollar to Drop
The U.S. Dollar should demonstrate it weakness, Last week I was looking at the EURUSD, but the pair is still above crucial support at 1.07500 without any but signal. Now I am looking at the GBPUSD to break through the resistance at 1.25400.
The pair has reached all of its downside targets and the Pound is ready to recover. The GBPUSD may go down a little, as the Federal Reserve will announce its monetary decisions next week. But, the pair may be on the recovery path before that. So, I have my plan for long trades.
Most importantly, the Pound has to demonstrate its strength, and the paid should rise to 1.25400-1.25800. It the pair will move to retest the 1.25200-1.25400 area it will be a good buy signal for me. The stop loss would be set below 1.24000, while the take profit order may be placed at 1.29000.
Disclaimer:
The comments, insights, and reviews posted in this section are solely the opinions and perspectives of authors and do not represent the views or endorsements of RHC Investments or its administrators, except if explicitly indicated. RHC Investments provides a platform for users to share their thoughts on financial market news, investing strategies, and related topics. However, we do not guarantee the accuracy, completeness, or reliability of any user-generated content.
Investment Risks and Advice:
Please be aware that all investment decisions involve risks, and the information shared on metadoro.com should not be considered as financial advice. Always conduct thorough research, seek professional advice, and exercise caution when making investment decisions.
Moderation and Monitoring:
While we strive to maintain a respectful and informative environment, we cannot endorse or verify the accuracy of all user-generated content. We reserve the right to moderate, edit, or remove any comments or posts that violate our community guidelines, infringe on intellectual property rights, or contain harmful content.
Content Ownership:
By submitting content to metadoro.com, users grant RHC Investments a non-exclusive, royalty-free license to use, display, and distribute the content. Users are responsible for ensuring they have the necessary rights to share the content they post.
Community Guidelines:
To maintain a positive and respectful community, users are expected to adhere to the community guidelines of Metadoro. Any content that is misleading, offensive, or violates applicable laws and regulations will be subject to moderation or removal.
Changes to Disclaimer:
We reserve the right to update, modify, or amend this disclaimer at any time. Users are encouraged to review this disclaimer periodically to stay informed about any changes.
