Author: Forex Analysis

GBPUSD hit Target 1 after the NFP report

Forex Analysis

 GBPUSD hit Target 1 after the NFP report

GBPUSD hit Target 1 after the NFP report

GBPUSD, 240 min

I suggested in my GBPUSD analysis yesterday that we should look for shorts as the pair created a daily shooting star candle and fell outside the rising channel.  My trade idea was to look for sell signals inside sell area between 1.4395 and 1.4445 with target 1 at 1.4174-1.4214 and Target 2 at 1.4033-1.4085.

The pair rallied to my sell area yesterday and produced a sell signal. If you don’t know these signals and how to manage the risks in these trades please join me to my free webinars. Even though GBPUSD was already falling today’s US Job report finished the business by pushing the pair down to my target 1 area.

This trade produced over 160 pips from the entry signal to the target 1 for those that decided to close their positions in this target area. The second target area is additional 100+ pips lower from the current levels. The USD could be strong after this solid jobs report while the GBP is likely to remain weak due to Brexit concerns. Therefore the probabilities of GBPUSD hitting the target 2 are still there but as the pair is now near to the lower end of the range we might see some volatility before the target can be hit.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

US Non-Farm Payrolls increased 215k

Forex Analysis

 US Non-Farm Payrolls increased 215k

US Non-Farm Payrolls increased 215k

EURUSD, 60 min

US nonfarm payrolls increased 215k in March after a revised 245k in February gain (was 242k) and a 168k rise in January (revised from 172k), for a net -1k revision. The Q1 average gain was 209k versus the 223k average for the 2015. The unemployment rate edged up to 5.0%versus 4.9% as household employment increased 246k versus the 530k February jump, with the labor market up another 396k following the prior 555k surge.

The labor force participation rate rose to 63.0% versus 62.9%. Earnings bounced 0.3% versus the 0.1% dip previously. The work week was unchanged at 34.4. Private payrolls rose 195k, though jobs in the goods producing sector fell 4k, with manufacturing down 29k, while construction up 37k. The service sector added 199k jobs, helped by a 51k rise in trade/transport. Government added 20k. This is a pretty solid jobs report.

EURUSD is trading near the upper end of the trading range and close to October 2015 highs. At the time of writing the pair has not yet reacted strongly. The nearest support level is at 1.1377 while the nearest resistance is at 1.1495. The 4h chart is about to create a bearish shooting star candle if it closes below 1.1413. The indication is EURUSD bearish and suggests that the pair is getting ready to correct to lower levels.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Macro Events & News for 04.01.2016

Forex Analysis
Macro Events & News

FX News Today

China’s official manufacturing PMI improved to 50.2 in March, better than expected from 49.0 in February. The improvement leaves the index at or above the key 50 contraction/expansion threshold for the first time since the 50.0 in July of 2015. The 49.0 reading this February was the weakest reading since a matching 49.0 in November of 2011. The move back into (very modestly) expansionary territory is good news, suggestive of some stabilization in China’s manufacturing sector. However, at the same time Caixin Manufacturing PMI (released by Markit Economics) is still below 50 at 49.7.

Sentiment index for Japan’s large manufacturers dropped to the lowest level in three years. Stronger yen eats into company profits, undermining efforts to revive world’s third-largest economy. The Tankan index stood at 6 in March, the Bank of Japan said today, declining from as high as 12 three months ago. A positive number means there are more optimists than pessimists among manufacturers.

Fed’s Evans echoed Yellen’s comment that continued caution is warranted on the policy path, due to low inflation (the FOMC non-voter is speaking on Bloomberg Radio). He’s projecting one hike at mid-year, and one at year-end, and reminded the FOMC could move at any meeting. The Fed is trying to be pro-active in order to avoid having to shift down to a negative interest tactic. An improvement in the outlook could speed up the pace of hikes, he noted, and added that recent inflation data have been firmer. But he believes the Fed needs to get closer to its objectives. There’s nothing really new here from Evans. When the FOMC shifted its dot plot lower to two tightenings this year, we and the market penciled in hikes in June and December (both are meetings that include press conferences).

Eurozone March HICP inflation came in at -0.1% y/y yesterday. Inflation remains stuck in negative territory, but core inflation is rising again and the gap between the rates across the four largest Eurozone countries is also widening. At the same time, energy prices remain the key factor behind negative rates, with no real signs of a deflationary spiral. German headline rates are back in positive territory and with the ECB continuing to add stimulus, the risk of property bubbles and regional inflation overshoots in the medium term are also picking up.

 

Main Macro Events Today

  • UK Manufacturing PMI: The UK manufacturing PMI is due today and is expected to come in at 51.2 showing some improvement after much weaker than expected number in the February survey. In February PMI dropped to 50.8, down from 52.9 in January.
  • US Manufacturing ISM: March ISM is out on Friday and should reveal an increase to 50.0 (median 50.6) from 49.5 in February and 48.2 in January. Producer sentiment has been rebounding sharply in March with big gains in all of the already released measures which should lend upside risk to the remaining measures of producer sentiment. The rebound is poised to bring the ISM-adjusted measure for the month up to 52 after holding at 49 for two months.
  • US Employment: March employment data is out on today and should reveal a 190k headline gain following headlines of 242k in February and 172k in January. The unemployment rate should remain steady at 4.9% (median 4.9%) for a fourth month.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Strong Canadian GDP

Forex Analysis

 Strong Canadian GDP

Strong Canadian GDP

USDCAD, Daily  

Canada GDP surged 0.6% in January, much better than expected and well above the most optimistic scenario (median +0.2%) following the 0.2% gain in December. This is the fourth straight monthly gain. The acceleration in January was driven by manufacturing (+1.9%), retail trade (+1.5%), and mining, quarrying, and oil and gas extraction (+0.9%). Utility production rebounded 2.7% in January on a return to more seasonal weather after the 2.5% drop in December that was due to unseasonably warm conditions. By sector, goods producing industries jumped 1.2% in January after the 0.3% gain in December. Service producers expanded 0.4% in January after an 0.2% gain in December. This is a strong report that underpins the view that Canada’s economy is adjusting to the lower commodity/oil price environment. Moreover, the big gain in January GDP improves the prospects for Q1 GDP.

USD-CAD fell to new five-plus month lows of 1.2882 in the aftermath of the much better than expected January Canada GDP outcome. The October 15 low of 1.2833 becomes the next downside target, with a break there taking the pairing to eight-month low territory. Oil prices will need to head higher again however, if further USD-CAD losses are to be seen. Short term resistance at 1.30958 10 Day MA and then 1.3219-1.3260.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

US Claims rise to 276k

Forex Analysis

US Claims rise to 276k

US Claims rise to 276k

Weekly US Jobless Claims

The 11k U.S. initial claims rise to 276k in the final week of March that included Good Friday, from 265k in the prior week and 259k in the BLS survey week, left a 23k three-week climb from a 253k cycle-low at the start of the month. The climb through the month reversed the surprising February claims undershoot that was evident with last week’s release of the annual revisions. Despite the rise, claims were tight during the mid-month period relevant for Friday’s jobs report, and the rise may reflect the difficulties of seasonal adjustment with this year’s early Easter.

Claims are averaging a still-tight 264k in March, versus a lower 261k in February but higher prior averages of 282kin January and 277k in December. The 259k March BLS survey week reading sat close to the 260k February figure but below prior BLS readings of 291k in January and 275k in both November and December.

We expect a 190k March nonfarm payroll gain that falls short of the 242k February pop as well as the 228k monthly average from 2015. Yet, a sharp March rebound in producer sentiment and tight claims in early-March implies risk that the jobs report captures the March updraft.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Macro Events & News for 03.31.2016

Forex Analysis
Market Analysis — 31 March 2016
Macro Events & News

FX News Today

German Retail Sales Fall: Retail sales in Germany (excluding autos and fuel sales) fell unexpectedly in February into negative territory (-0.4%) missing expectations (0.3%) and significantly below Januarys 0.7% which was the first positive figure since August 2015 and now appears something of anomaly. More evidence of weakness from the consumer and the faltering overall economic activity in Germany.

Japanese Housing Picks Up:  Japan’s housing starts rose 7.8% y/y in February after the 0.2% gain in January and confounding expectations of a 2.8% drop. This was the fastest monthly rise since August 2015 when it increased 8.8%. Total Housing starts were 974,000 compared to 876,000 in January. Construction orders fell 12.4% y/y in February following the 13.8% fall in January. Overall activity in Japan’s housing market remains subdued despite these figures and continued aggressive BoJ easing.

US ADP private payrolls increased 200k in March: The rise for February was 205k (revised down from 214k). The service sector climbed 191k, while goods producing jobs edged up 9k. Jobs in trade, transport area rose 42k. Construction jobs increased 17k, while manufacturing added 3k. Professional business services oriented employment increased 28k, while financial accounting firms added 14k. The data was a little better than expected and continues to reflect a healthy labour market.

German HICP inflation rose to 0.1% y/y in March, more than expected and lifting the headline rate back into positive territory, after the -0.1% y/y rate in February. Belgian numbers, released earlier yesterday also moved higher and the data is likely to set the stage for a rebound in the overall Eurozone headline rate this month, with base effects playing a role. For now this should at least limit speculation about further action from Draghi and the use of helicopter money, especially after Coeure suggested that the latter is an interesting academic option, but not actively considered as a policy tool at the moment.

 

Main Macro Events Today

  • German Unemployment

Ongoing economic expansion has been underpinning labour markets and German jobless rates are at very low levels, but the pace of the decline is starting to wane as growth slows down and uncertainty about the global outlook picks up. For now though the improving trend continues and we expect a renewed dip in the German jobless number of -3K (med -5K) in March, which should leave the jobless rate steady at a very low 6.2%.

  • Eurozone Inflation  

Yesterday’s higher than expected German inflation number is likely to set the stage for today’s round of preliminary HICP readings from France, Spain, Italy and for the Eurozone overall, and we have lifted our forecast for overall EMU HICP to 0.0% (med -0.1%) from -0.1% y/y, with an upside bias. The fall back in the headline rate to -0.2% y/y last month provided the official justification for Draghi’s latest round of easing measures, and a rise out of negative territory should at least for now dampen speculation of Draghi’s next steps and give the ECB time to concentrate on implementing what already has been announced. It also backs our view that the risk of a real deflationary spiral remains limited, despite negative headline rates. Still, Draghi’s hectic activism means markets have gotten used to immediately looking for the next step and speculation of additional measures won’t be stopped by one move higher in the headline rate.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURJPY hits targets both short and long side

Forex Analysis

 EURJPY hits targets both short and long side

EURJPY hits targets both short and long side

EURJPY, 240 min

March 14th I published an analysis on EURJPY suggesting that the pair would provide opportunities on both short and long sides. Price was about to roll over from the daily Bollinger bands and move to my buy area. As the pair was trading at 126.26 at the time of writing I suggested we could take a short between 126.50 and 126.80. Price rallied to 126.70 and faced heavy selling. This resulted in my 125.45 target being hit on March 15th. The long trade idea was to look for buy signals at or inside the area with Target 1 is at 126.60 – 127.60 and Target 2 at 128.00 – 128.60.

Now the long side target 1 has been hit also and EURJPY is attempting to crawl towards the target 2. The daily chart shows some loss of momentum at the upper daily Bollinger Bands and Stochastics possibly rolling over from the overbought zone. However, the weekly picture looks still promising which means that it could push higher after a pullback. The nearest important support level is at 126.60 a previous resistance that coincides with 38.2% Fibonacci retracement level.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

GBPJPY – “That’s Interesting”

Forex Analysis

 GBPJPY – “That’s Interesting”

GBPJPY – “That’s Interesting”

GBPJPY, 4 Hour

Yesterday I wrote about the GBPJPY pair on the 4 hour chart and concluded that a SHORT trade with “An initial target around 161.20 (20Day Moving Average), 161.00 and further out to 160.60  from current 161.85 levels. A recent high of 162.50 areas provides a stop area”

Although the pair achieved my two target areas I was stopped out (the daily high being only a couple of pips above my stop area.)

So I had a losing trade, that went on to hit both my targets. As a trader this happens and we simply have to add to our Trading Journal and learn from it. Always analyse your trades – both winners and losers.

Trading really is a mind game and accepting a loss is probabaly the most important aspect of that mind game. I learnt many years ago that winning and losing trades are always simply “interesting”. Losing trades happen and will continue to happen, however, with the correct risk and money management you always stay in the game and have funds to take the next opportunity that comes along.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Eurozone CPI – In line with expectations

Forex Analysis

 Eurozone CPI – In line with expectations

Eurozone CPI – In line with expectations

EURUSD, Daily  

Eurozone March HICP inflation: -0.1% y/y. This was in line with median expectations and up from -0.2% y/y in the previous month. We had been looking for a slightly higher number after yesterday’s 0.3% point jump in the German HICP rate but national data from France and Spain earlier already suggested that steady rates elsewhere would prevent a more pronounced uptick in the overall number. Indeed Italian HICP, published at the same time as the EMU number, actually showed the headline rate falling even further into negative territory. The gap between Eurozone countries is widening again, which is not making the ECB’s task any easier. With the headline rate stuck in negative territory, markets will likely continue to speculate about Draghi’s next steps, although the fact that core inflation actually rose to 1.0% y/y from 0.8% y/y in February highlights that energy prices, where were down 8.7% y/y in March, remain the main driving factor behind the negative rate.

The dollar extended Yellen-inspired declines against the euro, which was the chief benefactor of the dynamic, while ebbing back toward lows versus other currencies. This put EUR-USD at a 1.1383 peak after breaching the February high, trading at levels last seen in October.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

GBPUSD Weak after daily shooting star

Forex Analysis

 GBPUSD Weak after daily shooting star

GBPUSD Weak after daily shooting star

GBPUSD, 240 min

GBPUSD created a daily shooting star candle yesterday and fell outside the rising channel in today’s trading.  The pair is about to create a four hour shooting star candle which suggests that the sellers are rejecting the rally attempts to the area above 1.4400. In the daily chart the Stochastics is getting overbought while the weekly resistance level at 1.4500 is relatively close.

I am therefore looking for sell signals inside the above sell area between 1.4395 and 1.4445. Target 1 for successful short entries is at 1.4174-1.4214 and Target 2 at 1.4033-1.4085. Please, remember to apply risk appropriate management measures and come to our webinars to learn more should feel the need for further education.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.