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Broadly weaker dollar with Cable looking for a push
After Friday’s poor US jobs numbers, currency markets continue to see the dollar on the defensive with Euro and Cable making the most of the setback across the atlantic the pairs appoaching critical setups that could call for a further rally. Note that holiday hit markets saw US payroll figures collapsing from its string of back-to-back market beating results to read only 126K for the month of March well below the 246K consensus figure shaking the confidence of hawks looking for a US rate hike bythe middle of the year. This has allowed the other majors to be on the brink of a significant correction though liquidity remains to be an issue with many market centers still close.
Ahead we are looking for Cable to try to make a run for the key psychologucal resistance at 1.5000 though whats really important for us is the ability to pop the said level and close above it. Such an event would likely open the January consolidation from 1.4950 to the 1.5268 cieling with key objective for bulls at 1.5550 the key support for bears last year.
Source: http://www.fxinstructor.com/blog/broadly-weaker-dollar-with-cable-looking-for-a-push
I don’t see Cable getting push that far and that’s honestly what I feel, but at the moment I am not just saying it according to my feeling, but it is more so with help of OctaFX broker, it has masterpiece analysis service, it hardly goes wrong and over last 1 years I have made profits only because of following this and one of the best part is that it’s completely free to use for every single trader and we are not even required to join their company for using this.