Hello, dear friends!
On Friday, the British pound is trading at weekly lows. The euphoria after the deal with the EU has passed, now we see the reaction of the market to the actions of the British Parliament, which refuses to approve this agreement.
Uncertainty about the BRITON will remain at least until the EU responds to a request for an extension of the terms of Britain's exit from the EU. There is less than a week left until the end of October and a Brexit deal before the end of the month looks unlikely.
Against this background, the CHART USD tried to gain a foothold at the level of 1.2800, there was a rebound, but on Friday the fall continues. Next week will be decisive.
As for the rest of the events, on Thursday the outgoing Mario Draghi once again confirmed the weakness of the European economy. His comment caused EURUSD to fall by about 50 points.
On Friday, the news should take into account only the statistics on consumer sentiment in the U.S. (17:00 GMT). There is no strong news and until the end of the day trade is likely to be conducted without sudden movements.
According to EURUSD, the situation has not changed fundamentally
Yesterday's growth attempt was limited to the break-out zone of 1.1140-1.1178. In the near future we expect to move to the support zone 1.0990-1,1028, where we will look for entry points. We consider two options:
- reversal pattern with growth potential to 1.1140 - open purchase deals;
- forming a local range, a false breakdown of the upper boundary will give an entry point for sale. The first target is at 1.0990.
According to USDCHF, we expect a reversal in the zone 0.9963-0.9994
At the time of the review, we are seeing an upward movement from the support zone of 0.9838-0.9869 to the resistance of 0.9963-0.9994. After entering the resistance area, we look for any reversal pattern and open trades for sale (a reversal M-shaped model or an extension of local termination).
For short positions the target is at 0.9869, here you can place a take-profit.
It is possible to anchor the ruble at the level of 64.00
At the end of the week we see an upward movement from support of 63.51-63.72 to resistance in the range of 64.27-64.47. When entering the area of resistance, we consider two options for the development of events:
- Reversal - after the confirmation of the reversal model we open a deal for sale with a take-profit of 63.72;
- Continuation of the movement - look for points of entry to buy when expanding the lower boundary of the local termination zone. The target of the pair's possible growth is 64.85.
The gold chart came close to the resistance zone 1507-1517
In the near future, the key promises will be zone 1507-1517, it is in this range is expected to form trade signals. Consider two scenarios:
- formation of a reversal pattern, this will give the basis for sales with a take on 1481;
- possible to continue the upward movement. In the range of 1507-1517 we are waiting for the formation of local termination and on the expansion of its lower boundary we will get an entry point to buy. You can fix the profit at the levels of 1518, 1520, 1525, 1540 - here are the main sellers.
On the Dow Jones index consider purchases from the support zone
The chart of this instrument is traded under the lower boundary of the resistance zone 26870-27090. While entering the market early, signals to buy should be searched only after entering the range 25980-26200.
Here we look for a standard reversal pattern and open a long position with a take-profit at 26870. The scenario is likely to be delayed until next week.
Let's sum up the results on the already worked out signals:
- EURUSD - the signal for sale arose when the upper boundary of the termination zone was expanded. The stop at the entrance to the market was 13 points, it would be possible to take about 50-54 points;
- USDCAD - On Tuesday, the retest of the previously broken zone of termination could be sold at a risk of 22 points. When profit was fixed at the recent low, the profit was 48 points;
- USDCHF - The buy signal was received early Tuesday after a retest of the upper boundary of the termination zone. When fixing the profit at the level of the recent High profit was 29 points, then the growth continued. SL did not exceed 14 points;
- EURUSD - on Wednesday received a standard reversal pattern when approaching the support zone. When fixing the profit at the level of the recently broken support, you could earn 29 points with a stop of 18 points;
- CADCHF - On Thursday, the extension of the lower boundary of the termination zone gave an entry point to buy. The profit is 11 points at SL of 10 points.
According to the already worked signals, the potential earnings are 171 points. This profit could be made even if you do not own the Sniper strategy.
If you spend 1.5-2 months studying as part of the Special Horizon X course, you will be able to earn many times more. Practice shows that students trade with a minimum win rate of 70 q%, the link below will find more statistics, there is also a form for writing for training.