Greetings, everyone!

In the middle of the week all majors had the chance to grow, because of mediocre US statistics. But they couldn’t seize this opportunity and the American managed to hold despite poor statistics.

The unemployment rate in the United States was disappointing – the number of Jobless Claims increased and the decrease of orders on Durable Goods didn’t allow the dollar to grow. The latter may be explained by the precautions in the wake of the trade war waged by the USA and China.

On Thursday the following news is important:

  • 7:30 a.m. EST – ECB Meeting on monetary policy;
  • 12 a.m. EST – ECB Governor Ives Mersch speaks.

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That is all with fundamental analysis, let’s look for market entries.

Waiting for a resistance bounce scenario on USDJPY

The dollar continues to grow against the yen and we can expect this trend to continue today until it tests mid-November maximum. The swing zone is at 113.64-113.70.

We will wait for the price to break the resistance and form a swing level inside the range. We will sell after the chart breaks the swing level and tests it from below. This trade looks promising – place the TP at 112.34.

Expect the drop of kiwi against the dollar

The chart is not far from the 0.6866-0.6869 resistance. On Thursday the trading scenario implies the break and swing. The local support must appear at the low of a swing pattern inside the resistance zone.

The short trade TP should be at 0.6783 – it is the Wednesday low.

Swing pattern began forming on GBPNZD

The support at 1.8689-1.8697 is essential for today. The chart tested this zone, attempted to break it and a swing pattern is forming here at the moment.

The first half has already formed, we must wait for the local high to appear inside the 1.8689-1.8697 zone, the break and the test from above. We can enter a long trade on a retest and take profit at 1.8770.

Bullish bias on Celgene Corp. stocks

Pattern #5 formed on this stock instrument. The chart broke out of the second swing zone, but hasn’t reversed yet.

You can enter the long trade at the current price or wait till the chart grows and pulls back to 67.87. The TP should be at 68.93.

Wait for the growth of The Travelers Companies Inc.

Pattern #5 formed here including both swing zones. The chart attempted to break the 129.24 level, but couldn’t and thus we have no trading signal.

The chart must trend above 129.24 and test this level to provide an entry. The long trade target should be at 131.07.

Summary of yesterday signals:

  • NZDCAD – the growth occurred without the pullback to the swing level, no entry appeared;
  • GBPCHF – the price reached the target without an ascending pullback to the resistance;
  • GBPAUD – trade was successful, the chart reached the TP;
  • XAUUSD – the trade was partially successful and thanks to the rule of Safe we incurred no losses;
  • NEOUSD – the trade is still open, neither target nor stop were triggered.

This Tuesday our traders held a day of online trading and many people participated in it. Those who couldn’t, should watch the video here.

Online trading is not only useful because you trade with our traders. It is also a good supplement to your learning – it helps cement the learned information.

If you haven’t studied Horizon X strategy before, then you may not understand the information in the video. Simply click the link below, leave your e-mail and get free basic training course. And sign up for full training after that.

Get free basic Horizon X training course here

Wednesday was quite good in terms of trades, although the charts didn’t reach every TP. It is quite common – we don’t get trades on all the instruments we analyse, but the ones we get are quite profitable.

That is the end of our analytics. Please, tell us about your trades in the comments or ask any questions. Try to seize all trade opportunities, see you tomorrow.