Greetings everyone!

On Thursday the trade agreement between the USA and China was seriously undermined. The arrest of Huawei CFO by US request was the reason – Meng Wanzhou faces allegations of using Huawei technologies for spying. No details were published, but traders are afraid that China may sever all the agreements with Trump.

The dollar weakened because of poor Thursday statistics. Specifically, Factory Orders dropped by 2.1%, whereas analysts expected them to drop by only 0.2%.

The pound continues to behave erratically, it is traded on the rumours of Brexit voting in the British parliament. The situation is unlikely to change before December 11. The level at 1.2700 proved to be strong.

  • At the end of the week the calendar is stuffed with news, and we can expect some momentum moves. Take into account the following:
  • 5 a.m. EDT – Quarterly and Annual EU GDP;
  • 8:30 a.m. EDT – US statistics is released. Average Hourly Earnings, NFP report (newly created Non-Farm Payrolls) and unemployment rate is published;
  • 8:30 a.m. EDT – Unemployment rate and Employment Change in Canada.

 

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Try to stay at your screens around 8 o’clock – important news is released and momentum breaks may follow in both directions. Don’t forget the rule of Safe, it allows to lower your risks and get profit more often.

EURUSD may drop after failed attempt to trend above 1.1400

On Thursday the pair attempted to grow, but 1.1400 mark was unbreakable. Pattern #5 formed during the break attempt and we can hope for some short trades.

The chart should touch the 1.1396-1.1402 swing zone and we can enter the market after that. The expected profit is around 20 pips, you should place your TP at 1.1375.

Bullish pattern worked on CADCHF

This trade is a good example of how pattern #5 works. After breaking out of the 0.7389-0.7383 swing zone, the price reversed and tested the 0.7383 mark – that is where we should have entered.

The price has already reached the TP, which was placed at 0.7400.

Look for short trade opportunities on CADJPY

We see a momentum movement to the 83.93-84.03 zone and the drop below its lower margin. To enter the trade, the chart should first touch the 83.93 mark. At the moment the chart is only a few pips away from it.

The short trade potential profit is around 23-24 pips. Your TP should be at 83.69.

Long trade signal appeared on GBPCHF

The trade entry appeared after the chart touched the upper margin of the broken 1.2660-1.2665 swing zone, like on CADCHF. The price has already reached the TP at 1.2690, the trade was very quick.

If you entered here and trailed this trade, you could earn around 40 pips on this momentum movement.

NZDUSD – long trade is open, waiting for growth

Kiwi continues to grow against the US dollar. On Thursday the chart attempted to move down, but traders were actively buying kiwi at the 0.6855-0.6860 swing zone, which eventually initiated the pair growth.

We can already enter the long trade on NZDUSD and place the TP at 0.6896. The price has already touched the upper margin of the 0.6865-0.6871 swing zone, which means that pattern #5 fully formed.

Thursday signals:

  • EURUSD, NZDCAD – the price reached the take-profit as expected;
  • NZDJPY – the rule of Safe worked;
  • AUDUSD – no trade;
  • Sugar – the stop-loss triggered.

In December Forex Academy decided to hold another demo-account contest. The conditions are the same – you trade your virtual money, and the winner will get $250. Other participants will also get excellent prizes. Everyone will receive a 30% discount on Horizon X training. You can learn all the details here.

You can also learn the trading basics for free. Simply click the link below, leave your e-mail and get free video lessons that will explain Horizon trading to you.

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I hope you have managed to increase your deposit this week and haven’t lost a lot of money due to the triggered stop. That is all for analytics, see you on Monday.