Hello, dear traders!
On Thursday the market was rather tense. Trump has stated that the decision with respect to trade war will be made after G20 Summit that is taking place in June. In addition, traders are still waiting for the US Federal Reserve rate to be reduced. ECB rates remained at the current level so far, but according to Mario Draghi quantitative easing program might be resumed. That last statement caused volatility increase.
There were no sharp movements observed on Friday morning. The news to point out is an indirect evidence that the People’s Bank of China will defend the level of 7.0. So traders working with this currency may consider buying from this level.
In the afternoon statistics on employment in the USA will be released, which is considered to be a very strong news that may cause sharp movements.
Key news for today:-
- 17:30 - unemployment and change in the number of employed in the non-farm sector in the United States;
- 15:30 - employment change in Canada.
This week's entry points demonstrate that even in a highly volatile market levels keep working out. To start making money click the link below and get Horizon X for free. After 1-2 months analyzing the markets will take you no more than half an hour per day, and you'll receive 5-7 reliable entry points daily.
NZDCHF - opening deals to sell from global imbalance at 0.6581
All the elements necessary for a reversal have already been received: we've got supporting segment and M-shaped formation with its general minimum broken through. We are waiting for touching the level of 0.6581 from below to take place, and then short positions can be opened.
Place stop with a small margin beyond the nearest maximum - at the level of 0.6600. Two take profits are located at 0.6563 and 0.6526.
GBPAUD - bullish signal is received
Global imbalance at the level of 1.8189 is broken through from below and tested, which provides grounds for buying. Place stop at 1.8110, and take profit - at 1.8268 and 1.8426.
This signal is still missing support segment. I recommend reducing the lot and using the Safe rule to lower the risk.
Coffee - waiting for a bearish signal
Retest of global imbalance 102.58 that was broken through in the middle of the week has taken place. As soon as touching it takes place, one can open deals for sale (2 positions with an equal volume).
Stop is located at 106.69 or slightly higher, and take profit - at 98.48 and 90.27. Global imbalance is located within support segment, but the signal is not perfect. Support segment formation wasn't accompanied by price movement downwards by 50+ pips.
The seasonal factor is also in favor of short positions, so the probability of achieving take profit is rather high.
Palladium market - waiting for a signal to sell
It's recommended to enter the market when testing global imbalance level 1354.68 from below will be taking place. Place stop beyond the reversal pattern maximum - at 1373.88. Place take profit at the levels of 1335.45 and 1297.00. Target zones location is determined by the Safe rule.
As there's no supporting segment, don't enter the market with a too big lot.
Stock market - monitoring Ford Motor Co shares behavior
The stock segment is represented by Ford shares today. Global imbalance at 9.64 has already been tested by the chart, and at the moment its retest was taking place, one could open deals to buy. If you didn't manage to enter the market at that moment, wait for re-approach to the mark of 9.64 to take place and open a deal to buy.
Place stop at 9.26; target levels are located at 10.02 and 10.78. Imbalance was formed outside the support segment, which makes the deal aggressive - do not forget to adjust the lot.
A review of entry points for the week was released today. The number of signals has decreased due to the fact that they are provided for H1, and their working out takes more time. But this didn't affect profitability, attentive traders could earn 100+ pips.