Hello everyone!

The dollar stabilised on EURUSD and strengthened on GBPUSD, the latter occurred due to Brexit concerns. The end of the trading week may be volatile, and the fragile equilibrium may be disrupted.

Recent momentum moves on dollar may be explained by uncertainty surrounding the increase of the interest rate. Yesterday the FOMC Meeting Minutes was published, but it didn’t provide the final answer. Many experts believe that the FRS will increase the rate in December, but in 2019 they will raise it only once instead of three times.

Another blow came from US PCE – it dropped by 0.1%.

Concerning the pound, it dropped because experts are concerned that the December 11 Parliament Vote may be troublesome. But eventually the pound recovered.

On Friday, you should take into account the following news:

  • 5 a.m. EST – EU CPI and Unemployment statistics is published;
  • 8:30 a.m. EST – Canadian GDP statistics.

 

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G20 summit convenes at the weekend, Trump and Xi Jinping will discuss bilateral trade problems. Any rumours on the eve of this meeting may have impact on the market, so trade carefully and don’t take any chances.

Pattern #5 triggers on GBPUSD

Pattern #5 formed on this instrument. The price broke the 1.2783-1.2789 zone downwards and trended below 1.2783. The price swung and we could enter after the test of the 1.2783 margin.

The price hasn’t reached the 1.2770 target yet, which means that you can enter the short trade if the price pulls back to 1.2783 again.

Look for short entries on CADJPY

Pattern #5 formed here. The chart attempted to break the lower margin of 85.40-85.44, but didn’t swing and we couldn’t enter the market.

At the moment the chart is far away from the 85.40-85.44 zone, which means that pattern #5 is unlikely to work. If the price actually trends below 85.40, then we can try to enter a short trade and place the TP at 85.30.

Wait for the growth of Natural Gas

The chart broke the 4.503-4.522 range and you could enter the long trade on a retest of the 4.522 mark. Those who missed this entry, could try to re-enter on a downward test of 4.522.

The TP should be at 4.598.

The long trade should be long open on PVH Corp.

Pattern #5 began working on this instrument. The chart broke the 109.41-109.79 range and pulled back to 109.79 – you should have entered the market here.

The chart moved under the lower margin for a short time, but didn’t trigger the stop. At the moment the trade should already be profitable. The TP is at 110.84.

Expect the growth of Twitter stocks

The situation resembles that on PVH, but no entry appeared so far. The stocks are growing after the break of the 30.13-30.44 range, however the price didn’t pull back to the upper margin, which is a mandatory requirement for Horizon X entry.

If the chart touches the 30.44 margin, you can enter the long trade and place the TP at 31.47.

Trading results of Thursday:

  • Brent and Heating Oil – the rule of Safe worked, the halves of both trades were profitable after the charts covered 1/3 TP distance; the rest closed by a no-loss;
  • AXP – the rule of Safe worked on American Express;
  • USDNOK – no entries;
  • EURCHF – no entries.

On Friday morning we published the weekly review of entries, I recommend reading it and comparing your trades to ours. The results should be similar.

You can learn to trade by Horizon X independently if you complete the training. We study all types of entries and peculiarities of Horizon trading. You don’t need to invest anything to begin your education – simply leave your e-mail via the link below and get free video lessons.

Get free basic Horizon X training course here

The trading week ends today, so try to seize all trading opportunities and have a good weekend. See you on Monday.