Trend continuation theme looks to continue. While the Euro looks to be stalling, the Pound is going from strength to strength. Therefore the theme of today’s video is pound continuation on pullbacks. Hopefully Asia will give us the pullbacks we need, If the Pound does run up to the 1.56 area without a pullback, we may run out of steam on this pair. Lets see what happens.

Take it easy out there.

Regards

Rob Helean

Positive economic data as well as optimistic earnings reports published lately have boosted demand for riskier currencies, pushing the EUR back above the $1.30 level. Traders should continue following these indicators as a continuation of optimistic news will likely intensify the current trend.

Tody’s Leading Events:

6:00 GMT: EUR – GfK German Consumer Climate
14:00 GMT: USD – CB Consumer Confidence

Consumer confidence is a highly useful indicator as it lends insight into future consumption as well as manufacturing. The more people are confident about their future, the more they will be willing to purchase. Consumer spending accounts for a major part of economic activity; therefore, consumer confidence is a very valuable indicator.

FXstreet.com (Buenos Aires) GBP/USD Current price: 1.5420. Pair seems more clearly bullish forming a small continuation triangle in the hourly chart and with 20 SMA holding a strong bullish slope under current price, despite momentum has turn lower and aims to break the 100 level upside down.

Greetings.

We hope everyone had a great weekend and a great day of trading thus far.

Taking a look at the EUR/USD, it seems the bulls have a hold on the currency pair and am not letting go anytime soon. Look for a potential target price of 1.3200+.

You can see the movement up is very strong and steep. We’ll continue to watch this and determine if this is going to form an Ending Diagonal (ED). If this turns out to be an ED, then look for a continuation up and when it tops, look for a very strong and steep movement back down. However, we’ll wait for the New York session on Tuesday to see what unfolds.

Good luck and remember to utilize your stops and apply your money management.