I don’t think you can get to be a really good investor over a broad range without doing a massive amount of reading. I don’t think any one book will do it for you.
USD
EUR/USD
The Shared currency sidelined at $1.1703 on mixed concerns ahead of Fed Chair Jerome Powell’s and ECB President Lagarde’s testimony due later in the day.
GBP/USD
The Sterling recovered to $1.3716 on expectations that the Bank of England could hike interest rates early next year, but fears of a tough winter for the British economy capped its gains.
USD/JPY
The Japanese yen hammered to 111.15 versus the U.S dollar on rising bond yields in the U.S. and Europe lured Japanese investors.
AUD/USD
The Aussie dollar modestly gained to $0.7302 with data released earlier in the day showed that Australian retail sales contracted 1.7% month-on-month in August.
USD/CAD
The Canadian dollar hovered around 1.2625 against the greenback on firmer oil.
USD/ZAR
The South African rand ticked down to 14.95 per U.S dollar despite receding fears of widespread market contagion from indebted Chinese developer Evergrande.
USD/MUR
The dollar-rupee gained by 5cents to 42.90(selling) on the local market.
16:00 - EUR - ECB President Lagarde Speaks
18:00 - USD - CB Consumer Confidence
18:00 - USD - Fed chair Powell Testifies
The pound sterling is hovering near its one-month low around 1.3620 ahead of FOMC and BOE monetary policy meetings. The pound met with some fresh supply in the zone 1.3670-80 which could be a key resistance in the near term followed by 1.3800.
On the technical side, GBPUSD appears to be moving in a consolidation zone. As per Elliott wave principle, it appears that GBPUSD is currently riding a wave B ( triangle) of a corrective move A-B-C which could put more pressure to the downside in the near term.
A break and close of 1.3600 opens the door towards 1.3100 in the medium term. A breach of wave A of triangle (1.3980) invalidates the move and can be bullish in the medium term.
