Greetings, fellow traders!

As expected, yesterday events caused a surge in volatility on GBPUSD. The interest rate remained unchanged, but surprisingly the for/against ratio changed. 4, not 3, board members favoured the increase of the rate – that gave the pound some support.

Such shift in the balance allows us to estimate that the rate will be increased this year, possibly in autumn. Apart from that, the dollar was weakened by negative PMI and HPI statistics.

At the end of the week, the calendar is calmer than on Thursday:

  • 11 a.m. MSK, Eurozone Manufacturing and Services PMI statistics;
  • 4:45 p.m. MSK, US PMI statistics is released.

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Trade at resistance bounce on EURUSD

Yesterday the chart hit a strong resistance at 1.1625. It made two unsuccessful attempts to break it. Considering that the week is ending, the bulls are not likely to break it – they’ll leave this task for the next week.

Trading advice for today is to look for a swing pattern after the bounce from 1.1625 resistance. Our first short target is at 1.1590, the second is at 1.1572. The rule of Safe is quite applicable here – take partial profit at these points.

Expecting correction after a surge on GBPUSD

Yesterday the pound surged – usually a pause follows such movement, when big shots fix their profits. Keep in mind that it is the end of the trading week, so a scenario, of the chart stucking between two strong levels without breaking them is the most probable.

The key levels for today are 1.3260 and 1.3200. We can seek short entry after a swing pattern forms at 1.3260 resistance. The 1.3200 level makes a good take-profit.

Bearish trades on USDJPY

On Friday, we should enter the trade after a bounce from 110.20 resistance. The chart attempted to get to 111.00, but then dropped, and the southern move is likely to continue, but at a slower pace.

If an M-pattern forms at 110.20 resistance, we can enter the trade and place our take-profit at 109.65. Another swing pattern can form here, and if it does, we can try a risk-free deposit boost technique.

Today we are publishing the review of this week’s entries, I advise you to read it. It might also be useful to read the previous review of Horizon X entries – last week was quite “fruitful” - we got 10 market entries in 3 days.

Today the calendar is calm. Considering the movement of the previous days, the volatility should decrease. But it doesn’t mean that there won’t be any trades. Horizon X works in any market, even in a calm one – you can learn about it at our training course. For now, you can learn all the basics from our free basic Horizon training course.

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