Hello everyone!

Nothing significantly changed on Tuesday. In his twitter Trump hinted that he is going to reach an agreement with China and end the trade war. Brexit still influences the pound.

The dollar is not rushing to grow. Aside from recent mediocre statistics, investors are troubled by bond yields. The gap between short-term and long-term bond yields is narrowing, which usually occurs before an economic slump.

Concerning the pound, the day ended in nothing, although there was a surge, followed by a plunge. It all happened due to uncertainty in Brexit voting.

You should consider the following news on Wednesday:

  • 3:30 a.m. EDT – Mario Draghi speaks;
  • 4 a.m. EDT – EU PMI is published;
  • 4:30 a.m. EDT – UK PMI is released;
  • 10 a.m. EDT –Bank of Canada votes on interest rate.

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Although there is no significant news in the middle of the week, but momentum moves can occur nevertheless. Pay special attention on the pound.

Wait for the growth of Boeing stocks

There is a bullish pattern #5 on this instrument. The chart left the swing zone at 325.68-354.02 and reversed.

You should have entered the long trade after the price touched the 354.02, however the price hasn’t reached the TP at 359.42 so far. If you haven’t entered on the first touch, you can try to enter a long trade after the second approach to this mark.

BMW stocks are dropping from the day highs, look for short trade signals

On Tuesday the chart attempted to trend above 75.00, but eventually dropped to 74.00. Pattern #5 formed here and bearish signal is likely to appear on this instrument.

You can open short positions after the price tests the 74.81 mark from below. You should place your TP at 74.13.

Maintain bullish bias on IndiTex SA stocks

On Tuesday the chart attempted to move below 27.00 mark. The bulls countered the bears’ onslaught and formed pattern #5. Both the zones entirely formed and the chart is swinging at the moment.

You can enter the long trade after chart touches the 27.22 mark. Your TP should be at 27.43.

Long trade signal is forming on Brent

After American opening the chart attempted to move below 62.00. Horizon X pattern #5 formed and the chart is above the 62.19-62.32, therefore our bias is long.

We can enter the long trade after the chart touches the 62.32 mark. The TP should be at 62.86.

Opposite development on WTI – wait for a short trade opportunity

At the moment the chart is below the swing zone at 53.79-54.27 – our bias should be short.

You can enter a short trade after the price touches the 53.79 mark. Place your stop above the High. Your Take-Profit should be at 52.89 and don’t forget about the rule of Safe, to move to the no-loss zone as soon as possible.

Tuesday trades:

  • NZDUSD, GBPNZD, EURJPY – the price reached the Take-Profit;
  • Platinum – entry requirements weren’t met;
  • DAI – a deep plunge occurred without us, because the chart didn’t touch the second swing zone of pattern #5.

I want to remind you that we held the online trading session with our Forex Academy traders. Even if you missed the broadcast for some reason, I still recommend watching it, as we studied some Horizon X trading patterns. You can watch the video here.

Don’t forget about the free basic Horizon X training course. By clicking the link below, you can get the video lessons, that will help you learn the core principles of the trading system. If you want to learn more, than sing up for the full training course.

Get free basic Horizon X training course here

If you have questions about the trades we make, you can ask them in the comments below. The start of the week looks promising, I hope it will continue that way.