Get started

Fundomentals

GBPUSD - Downside Likely To PersistHi Traders, GBPUSD broke out of the upside trend line and the move down has stalled within previous structure. Price now must close below 1.122000 to confirm further downward bias. With the Supreme Court ruling on if the British Parliment must vote on a deal to leave the EU due mid-Jan we may see price trade sideways until the verdict is delivered. The verdict is highly expected to support Parliment needing to approve a deal to leave the EU which is expected to support Sterling, markets may 'buy the rumour' before a verdict so if price continues to stall at 1.22000 we'd be inclined to take a long position. Until we see more bias from market participants we remain neutral.
by EuroDollarExpert
Will Kuroda Sink The Yen in his speech in a few hours?USD/JPY opened higher than the Friday close to a small retracement in it's initial hour and price is now trying to push high (hourly view) with a wick formed above today's open on the next candle. Markets could be primed for the Bank of Japan Chief Kuroda who is due to speak in the early hours of Monday and as per recent speeches he will likely be seeking to manipulate Yen strength to support Japanese exporters. Let's wait and see what happens, the position here is long USD/JPY.
Long
by Elliot_Myers
GBPUSD Wedge formation broken + pay rolls = buy?As can be seen price has broken out of the wedge formation. What usually happens now is a deep retracement back into the wedge and a spike back out continuing the upwards trend towards a re-test of previous highs. The farms rolls tomorrow are historically the worst and this should give a perfect opportunity for bulls to carry price higher. See below for a double entry trade with a short and longer term target at historic structural resistance levels.
Long
by Elliot_Myers