Market Assessment - Forex Trading - EURUSD
Today is a big day in the Markets with the GBP Bank of England Rate Decision & GBP Bank of England Inflation Report both due out at 12noon GMT+1.
UK being the Financial capital of the world, these reports will have an impact on all markets. There is a HIGH probability of the Markets trending sideways prior to these reports. I will avoid trading prior to these reports.
On assessing the EURUSD 5min Chart, the Market is currently trending sideways between the drawn White Lines. In view of the reports due out at 12noon, I have not placed any orders. I will reassess the Market again just before the report and decide what to do then.
Looking at the GBPUSD, the Market is also trending sideways which is not surprising.
UK being the Financial capital of the world, these reports will have an impact on all markets. There is a HIGH probability of the Markets trending sideways prior to these reports. I will avoid trading prior to these reports.
On assessing the EURUSD 5min Chart, the Market is currently trending sideways between the drawn White Lines. In view of the reports due out at 12noon, I have not placed any orders. I will reassess the Market again just before the report and decide what to do then.
Looking at the GBPUSD, the Market is also trending sideways which is not surprising.
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