How to make money from Tuesday Forex Traders Money Market Update. 23rd October 2018.
My opening comment in this report yesterday came as a question. Can the S&P 500 stock index continue to stay above its 200 EMA on the daily chart? The answer on Monday was no with the S&P closing down 0.5% on the back of a very week banking sector lead lower by one of the world’s largest banks Bank of America. Please review my daily video update for more information on where the stock index closed technically.
The Pound was the biggest loser of the majors on Monday with traders again selling off the Queens currency as Brexit negotiations continue to drag on without resolution. According to CNBC Prime Minister Theresa May on Monday said that 95 percent of Britain’s Brexit deal has been agreed to but repeated her opposition to an EU proposal for the Irish border, according to excerpts from her statement to Parliament. The GBP v USD slipped below a key technical level against the US Dollar, which I point out in my daily video update. The Euro also fell on Monday as traders continue to be concerned about Italy’s budget.
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