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Pound to start falling?? Currency Forecast – USD Interest Rate Rise ( Andrew Bromley )
Today has been marked as the start of the build up to the General Election, as MPs were released from parliament and ceased to be MPs. UK Parliament has be adjourned for the UK General Election and based on former currency activity during these periods – expect a rocky time! With this in mind the overwhelming thought for anyone buying a currency with Sterling should be to take advantage now. The recent ascent to the 1.40s has been a bit of a curveball, potentially taking a bit of the sweetness out of the current high levels. I’d definitely be inclined to take the 10 Cent gain from January (if buying Euros), rather than gambling to try for say 1.40. I personally don’t feel that we’ll see 1.40 again for a fair while, perhaps not until 2016 when the UK should be in a position to raise Interest rates.
This week is also very busy for GBP USD traders, as the week is shrunk to only 4 trading days. That being said the US releases its key Nonfarm Payroll data on Friday (bank holiday!) which will be a vital clue to the dates of the US interest rate increase. The US Federal Reserve will no doubt be the first financial institution to raise rates with investors all over the world hanging on their decision. Speculation is shared between a hike in July and September. Neither can be ruled out and a strong Nonfarm figure on Friday could indicate sooner rather than later!
I wouldn’t be surprised to see a push towards 1.45 with improved figures on Friday. Therefore make sure you have you position in the market safe to avoid losing money!!
If you have an exchange requirement feel free to get in touch to discuss. The direct line to me (Andrew Bromley) on the dealing floor is 01494 787 478. Alternatively drop me an email to [email protected]
Source: http://www.poundsterlingforecast.com/2015/03/30/pound-to-start-falling-currency-forecast-usd-interest-rate-rise-andrew-bromley/
This might be the scenario but too tough to exactly predict this and if we just go by predictions then it can be tough to maintain consistency, hence I believe doing things which I am sure about. I usually do scalping and for that I don’t watch long term trend but just follow midways and thanks to OctaFX with their cTrader platform where I get up to date system so it helps me analysis things better and that shows in performance too.