Hello, fellow traders!

On Thursday, Theresa May speech was the event of the day followed by the resignation of some ministers, who protested against the Brexit deal. Good US retail sales statistics boosted the drop of the pound against the dollar.

Dominic Raab, Shailesh Vara and Esther McVey resigned. Although May stated that her cabinet supports Brexit, but it looks like the issue is not fully settled. It was enough for the pound to drop against all majors.

US retails sales statistics was published and it was 0.2% higher than the estimates.

Consider the following in your trade today:

  • 3:30 a.m. EST – Mario Draghi will speak about the state of European economy;
  • 5 a.m. EST – EU CPI is published and will provide information about the inflation rate;
  • 9:15 a.m. EST – US Industrial Production statistics.

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And now let’s look for Friday entries.

Expect growth of EURUSD

At the end of the week our bias is bullish. The key swing level is at 1.1270-1.1282 – the chart tested this range yesterday – euro began to grow from it.

Wait for a swing pattern and a swing at 1.1278 inside the support. After the chart trends, our TP should be at 1.1339.

Swing pattern is forming on GBPUSD

On Friday, the pound is likely to strengthen against the dollar. The support is at 1.2826-1.2830, a swing occurred at 1.2836 and the second wave of pattern is forming at the moment.

If the chart trends above 1.2836, you can enter a long trade. Your TP should be at 1.2942.

Pattern #5 is likely to trigger on EURJPY

The second swing zone of the pattern formed after the American opening and the chart made an upward momentum breakout. A pullback is taking place at the moment, it may continue to 128.17 at least – it will be our long trade entry.

From here, the chart may grow to 128.66 mark – you can close the second half of the trade here. Close the first half after the chart covers 1/3 distance to the TP.

Short trade conditions formed on NZDCAD

Horizon X pattern #5 entirely formed on this cross-pair. The chart broke the pattern’s lower margin, swung and tested the 0.9007 mark. You can enter a short trade here and place the TP at 0.8985.

If you missed this entry, then you can re-enter after a second touch of the 0.9007 mark.

Expect growth of Nvidia stocks

There are good market conditions to buy Nvidia stocks. We see Horizon X pattern #5 elements in work. The situation is typical – both swing zones are in place, the chart broke the 198.94 level, and all we have to do is wait for the downward test of 198.94 – we can enter the market after that.

Your long trade TP should be at 206.12.

Trading signals:

  • AUDNZD – the rule of Safe worked, the expected profit was small, we managed to take about 1/3 – around 6-7 pips;
  • AUDCHF – the chart didn’t reach the target, the profit was comparable to that on AUDNZD;
  • Platinum – the same situation on this chart – the stop wasn’t triggered and we could take around 25 pips of profit using the rule of Safe. The rest closed with a no-loss;
  • Nasdaq – the price reached the TP;
  • EURUSD – swing level didn’t form, no trade opportunities appeared.

I strongly recommend reading our weekly review of trades on Friday. Not all trade targets were reached, but the rule of Safe allowed us to retain profit in some difficult situations.

Do not neglect self-training. Analytics is good but you should rely on your own efforts.

You can start with a free basic Horizon X training. After you comprehend the peculiarities of the strategy, you can sign up for a full training. You can leave your e-mail via the link below and we will send you the video lessons.

Get free basic Horizon X training course here

That is all, another trading week is about to end. I hope it was profitable. We would like to see your trading results, please share them in the comments.

Wish you all the best and see you next week!