Greetings everyone!

All main developments were tied to Richard Clarida’s speech, when he gave a hint that FRS may raise the rate and Trump’s comment on Brexit. The dollar grew against both the euro and the pound.

Deputy FRS Chairman Richard Clarida spoke about raising the interest rate. According to him, the economic indeces would allow it without any negative impact on the American economy.

Later Trump commented the Brexit deal. He stated that it was good for EU, and it may cause some trading problems between the USA and the UK.

Don’t forget that the market will remain volatile to an extent till weekend. The meeting of the American and Chinese leaders will define the course of the trade war.

There is enough important news on Wednesday, so be watchful in the afternoon. Keep in mind the following:

  • 8:30 a.m. EST – US GDP and consumer spending;
  • 10 a.m. EST – New Home Sales in the USA;
  • 11:45 a.m. EST – Bank of England Governor Mark Carney speaks about the UK economy;
  • 2 a.m. EST – FRS Chairman Jerome Powell speaks.

During the day the English banks’ stress test results will be published. It may have some impact on the market.

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Let’s look for trading opportunities using Horizon X strategy.

NZDUSD is below the resistance, wait for further drop

There is a visible resistance at 0.6797-0.6799. After the chart attempted to trend above 0.6800, there was a momentum drop and a trend below. Wait till the chart touches the 0.6797 level and enter the short trade. The profit is small, 10-12 pips on M1. You should place your TP at 0.6788.

Wait for bearish signal on NZDCHF

There is a support at 0.6786-0.6787. The chart couldn’t trend above, broke it and trended below. We should wait till the chart touches the 0.6786 upwards and enter the short trade. The TP should be at 0.6776.

Sell after the bounce from 1.1300 on EURCHF

The chart couldn’t remain above the 1.1300-1.1302 support and broke it after the American opening. At the moment the chart moved away from it, but the 1.1300 level remains untested.

It is mandatory for a short trade. We enter the market after the price comes to 1.1300 and place the TP at 1.1289.

Bearish bias on Brent

The key range for oil is at 60.83-60.87. A support formed here, but the price couldn’t remain above $61.00, broke the support and trended below the zone.

At the moment, the chart is growing. We expect it to reach 60.83, where we can enter the short trade and place the target at 60.13.

Wait for a long entry on Dow Jones

The index grew on Tuesday and remains above the key support at 24474-24482, although it dropped from the highs. After the break and trend, the chart broke the high and the pattern came to life.

You can enter the long trade after the chart touches the 24482 mark. The TP should be at 24624. Use the rule of Safe to minimize your risks.

Account of Tuesday signals:

  • NZDUSD – the signal worked partially. Your profit depended on where your stop was. If the chart didn’t trigger it, then you could close at least half the trade using the rule of Safe;
  • GBPUSD – momentum break of the support occurred, no entries;
  • AUDCAD – pattern #5 worked perfectly, we got 17-18 pips;
  • AUDJPY – a surge of news activity occurred, if you entered after that, then you could get profit;
  • EURAUD – no trade signals appeared.

Sometimes the market acts erratically, forming news spikes, but Horizon X works well even in such circumstances. AUDJPY situation is a good example: the price reached the TP despite high news-related volatility.

Horizon X strategy is definitely worth paying attention to, considering that you won’t have to learn Horizon trading all by yourself. Forex Academy is ready to share its tricks with everyone. Furthermore, we provide free Horizon X video lessons – click the link below and leave your e-mail to receive them.

Get free basic Horizon X training course here

Ask you questions in the comments and share your trading results. I hope our analytics helps you get profit.