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The ECB will become the latest central bank to concede on the inflation argument and raise rates in July and September, as per President. Euro and Sterling Shrug Poor PMIs, Overall Sentiment Mixed · Market Overview EUR/USD stayed in range trading last week and outlook is unchanged. EUR/GBP Daily Outlook . BETTING MONEY ON WEIGHT LOSS
Is SP ready for a reversal? You can take advantage of the current bounce from. Tesla, Inc. Tesla Inc. Will TSLA shoot higher this week? Stochastic is favoring the bulls with its oversold signal while green candlesticks on the daily time frame suggest at least some buying interest.
Traders who are confident that TSLA will see another bounce can scale in at current levels and place stops just below the support area. However, it is crucial to get out of the wrong side of these trades quickly. It is essential to have an exit strategy, such as a stop loss , when making highly leveraged currency trades. Economic Releases The majority of monthly economic data from the United Kingdom comes out between 2 a. Eastern Time in the United States. The majority of European data becomes available around the same time as U.
That makes it an excellent time to trade European currency pairs. Eastern Time and also generate extraordinary GBP trading volume. There are good odds for strongly trending price action in several or all of the pairs. Japanese releases receive less attention because they occur when the United Kingdom is in the middle of its sleep cycle. British Pound and Equity Exchange Hours Many GBP traders' schedules roughly follow exchange hours, with most of their activity occurring when Frankfurt and New York equity markets are open for business.
This localization generates an increase in trading volume around midnight on the U. East Coast, continuing through the night and into the American lunch hour when forex trading activity can drop sharply. However, central bank agendas shift this activity cycle with forex traders worldwide staying at their desks when the Federal Reserve FOMC is scheduled to release a 2 p.
The Bottom Line Four popular currency pairs offer British pound sterling traders a wide variety of short and long-term opportunities.
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OPPOSITE OF SAFE BETTING
On the chart below, a bullish example of a long trade is shown: The powerful bullish price action on the 1st and 3rd low tall green candles that close near the highs provide more conviction that the bottom will hold - EURUSD 4-hour chart Short trade entry: Wait for two consecutive highs to form on EURUSD and then on the 3rd bearish turn in the price you can enter short.
Short trade stop loss: Put the stop-loss order above the highest high of the 3 highs. Short trade exit and targets: Target the next support to the downside. This support needs to be of the same size, meaning if the pattern has appeared on the 1-hour chart, then the target should be also based on the 1-hour chart. An example of a short trade is shown below: An example of a bearish leg starting after EURUSD formed 3 distinct highs — EURUSD 1-hour chart On the above chart, notice how the two pairs of 3 highs first marked with black numbers and the second in blue are of the same nature.
The first 3 highs are smaller and thus offer lower conviction for a top than the second pair of 3 highs. The second 3 highs marked in blue are taller and the shadows are longer. Thus the second pattern is more convincing than the first pair of 3 highs. Additional guidelines: An important aspect to keep in mind is that the 3 highs or 3 lows depending on whether it is a bearish reversal or bullish reversal will usually take the same shape. That is, if the first low is rounded and formed by several candles then the next two lows should also take the same shape.
If on the other hand, the lows are formed as sharp reversals with only 1 — 2 candles at it, then all 3 lows should be of this nature. Keep an eye on the overall trend on the pair. If the trend on larger timeframes is bullish or bearish then the basing or topping pattern will work more accurately than the opposite. For example, if the trend on the daily and weekly is bullish and you see this 3 lows basing pattern on the 1-hour chart then it has a very high probability to provide a profitable trade.
Adding a momentum indicator on the chart such as the RSI helps to read the power behind the price action. While the Forex major currency pairs experience the most volatility surrounding an NFP release, any of the most liquid currency pairs will experience similarly wild price action. This is because global markets are so interconnected that when the US economy slows down, the rest of the world is often dragged down with it.
Put in simple terms, CPI measures inflation. This is one of the highest impact news releases because as we said above, the main mandate for central bank policy is to control inflation. The basket contains a fixed set of products and services based on average consumer habits that the Bureau of Labor Statistics has collected. The highest impact CPI news release comes out monthly, but due to its importance, the data is also compiled into quarterly and yearly readings.
As central banks such as the Fed use the CPI number to track inflation, there is a direct relationship between CPI and interest rate policy. As GDP is released at wide intervals, the bureau also releases preliminary figures at the end of each month. While a central bank such as the Federal Reserve would never make a final interest rate decision on GDP alone, it does still serve as evidence used to base decisions around.
The same can be said for a GDP number in decline, signaling an economic slow-down that could require rates to be cut. Unplanned Forex News Sometimes the unpredictable nature of the society we live in means things happen, things that move markets. This section encompasses all other high impact Forex news releases that you may or may not find on your economic calendar.
Important Examples: Political speeches, central banker speeches, terrorist attacks How often: Sporadic An example may be the US president stepping up to the microphone at a campaign rally for an off-the-cuff announcement of an economic stimulus package.
Action forex eur/gbp forex news favorites to win world cupWeekly outlook and setups VOL 168 (24-28.10.2022) - FOREX, Indices
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