Trading Support and Resistance-
Let us look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies:For the month of July, I forecast that the USD/JPY currency pair will rise in value.The final performance of this forecast was as follows:Last week, I made no weekly forecast, as there were no unusually large counter-trend price movements, which is the basis of my weekly trading strategy.
Last week was dominated by relative strength in the Euro, and relative weakness in the Canadian Dollar and the Japanese Yen.
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