TheLFB produces six daily trade plans on the major currency pairs and yen cross pairs as well as four sets of commodity charts (S&P Futures, Dollar Index, Gold, and Oil). The daily trade plans feature trend, analysis, important price points for intra-day and longer term trades, key economic releases, and technical charts on the pair and it's correlating commodity chart.
In addition to the trade plans, TheLFB offers its members trader networking, daily live web seminars, trade signals, elliott wave analysis, charts, trade session previews, and much more.
Cable Trend: Mixed
Overall: The pound strengthened against the dollar again on Thursday as traders remain fixated on the Federal Reserves announcement to purchase $300 billion in longer term Treasuries and up to $750 billion in agency debt and mortgage bonds. The pair gained another 220 pips today and closed the day testing the 1.4500 level, which has proved to be a tough resistance area to break in the past. The M4 money supply rose by 21.7 billion pounds in February, as expected. The increase in money supply is a consequence of the recent Bank of England rate cuts and liquidity measures taken.
Technical: The cable broke above the 50 day simple moving average is approaching the 100 day SMA, located approximately 200 pips above the current price point. The relative strength index is above the 50% neutral line on the daily chart. The 4 hour chart is long. The 1 hour chart is long.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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