October 05, 2018 08:29: Pound/Dollar Trade Strategy [From Mr. Tetsu Emori's Newsletter]
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From Tetsu Emori's investment newsletter "Tetsu Emori's Real Trading Strategy" provided by GogoJungle, here is a small excerpt from this morning's edition. This time, please take a look at the trading strategy for the pound-dollar around $1.3024.
We will unwind the short and take a new long on the pound-dollar. It has begun a rebound from being oversold. The long-term trend is around $1.3300. The fair value is about $1.5285, and the current level is quite undervalued.
Quote from “Tetsu Emori's Real Trading Strategy” (Tetsu Emori).
Today comes the U.S. employment report. Following this release, all eyes will be on how the accelerating dollar buying trend will unfold. (Editorial staff)
Pound-dollar, 1-hour chart.
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