Euro dollar has been consolidating around 1.09 at 2017 highs. Cable saw a major breakout in the month of April. The market could be putting in a major base in this market. Click here for more market analysis.
In the euro’s latest breakout to fresh 2017 highs, if the market continues above 1.09 its next measured move targets 1.1230 or 1.14. The market is well supported at 1.0570. The pound/dollar has seen a breakout above 1.2775, December’s peak following the low of 1.1840 last October. This sees a potential move upwards to 1.35. Dollar/yen has been trading in a downtrend within the last few days. But if price is contained below 112.20 sees potential downside.
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The EURUSD continues to extend its run to fresh 2017 highs after breaking its previous peak of 1.09. This sets the stage to the 1.12-1.14 level. It would take a break below 1.05 to negate this. Click here to read more chart analysis from LMAX EXCHANGE
The euro retains its bid tone as it continues to maintain its strength after finding support at 1.0570.
Cable sees a major breakout this week at 1.2775 which could signal a major change in the price structure. Pull backs will probably be supported in the 1.24-1.25 area.
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Spread is just one of the metrics you need to assess when choosing your liquidity as a client and particularly a brokerage client. It is important, BUT you need to be able to measure your Total Cost of Trading.