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.
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.
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.
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.
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.
The Canadian dollar hovered around 1.2625 against the greenback on firmer oil.
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.
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.