Forex

Taking a Loss on USDJPY




We don’t always get it right in trading! This week we ended up taking a loss on USDJPY.

A very important thing to remember in trading is losses will happen to everybody, this is why proper money management and an understanding of leverage are a must for every trader.

We had expected from our analysis that the USD was going to weaken further for a small amount of time, while good date was coming out of Japan regarding it’s current account and BoJ Lending.

So we entered a Short Position on USDJPY, however some positive data from the US including unemployment claims and the federal budget balance had given the USD some strength.

Within the chart we could see a bear trend with sellers mainly in control at certain areas.

Bulls were starting to gain strength and the positive data from the US gave them that extra confidence to get into the market and take the USDJPY higher.

So we made a loss, we don’t dwell too much, instead we move on to the next trading opportunity.

loss on USDJPY

(Our trading and image was done using an account with UK based broker IG)

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*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 




Taking Profit on GBPCAD before a downturn




We went in to the trade to profit on the GBPCAD with possible strength gain for the trade, however with recent news about the unlikely rate hike at the BoE on Thursday, this may mean the GBP weakening.

We had a long position in an area of buyers around the 17400 mark, we could have waited for the retracement to complete at the area of sellers at around the 18000 area, however with news due out later today on the UK  10-year bond auction and the BRC Retail Sales Monitor looking like a reduction in the value of same-store sales the GBPCAD might not manage to reach the mark.

Instead we took our profit before the downturn continues.

gbpcad

(Our trading and image was done using an account with UK based broker IG)

If you want to learn how to make money online, then click here to learn about one of our Traders

*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 




Scalp Trade on GBPUSD




So not the trade we were hoping for with a trade on GBPUSD.

We did hope for further momentum to the upside to the area of 13800 however we took notice of some factors which may mean the  bearish trend is expected to prevail for a while.

In the economic news, on Tuesday the Fed Chair Jerome Powell Speaking at the High Level Conference on the International Monetary System in Zurich and on Thursday the Bank of England Gov Mark Carney will be delivering the BoE decision on Interest Rates, though we are seeing a shift in expectations and the likelihood for the BOE to raise rates are looking rock bottom, and we’ve seen the big shift in the chart.

The trend is still looking at the downside and may not break the previous lows but we could still be in for an extended period of a downtrend.

So we’ve settled on a quick scalp trade, still £27.60 if still profit for the fund.

trade

(Our trading and image was done using an account with UK based broker IG)

If you want to learn how to make money online, then click here to learn about one of our Traders

*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 




Take Profits From Euro Weakness




Looking at the technical analysis showing the EURUSD set to breakout after months of sideways movement due to potential Euro weakness.

Soon we’d be looking at potential breakouts, possibly to the downside.

We could be seeing return of US Dollar strength as we move further into 2nd quarter as well as taking into account the Eurozone that has seen such a dramatic drop in growth over recent months proving to make further Euro weakness.

The ECB has started to reduce the quantitative easing due to the strong recovery in the region with real GDP has expanding for 19 consecutive quarters, meaning  it doesn’t need the excess liquidity provided by flooding the market with cheap Euros.

We exited with a nice £644.50 for the fund.

Euro weakness

(Our trading and image was done using an account with UK based broker IG)

If you want to learn how to make money online, then click here to learn about one of our Traders

*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 




 

Short Term Profit of £24.60 on Pound Strength




With a recent surge of the Pound hitting the highest level since the Brexit vote June 2016 added with a Dollar weakness after the uncertainty of US trade policy helped the GBP to an increase of a 21 month high of 1.4345

Before the release of unemployment data with expectations of strong employment and wage growth could be a contributing factor for a chance by the Bank of England to raise rates in the coming  month.

Expectations have for some time think the Bank of England will raise interest rates thus giving the Pound more strength.

We took a quick opportunity to take a short term trade going long GBPUSD while the news was good.

Not bad for a quick £24.60 profit.

Pound

(Our trading and image was done using an account with UK based broker IG)

If you want to learn how to make money online, then click here to learn about one of our Traders

*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 

A quick GBPUSD Long position for £143.60 profit

With some vital USD data due out today concerning CPI and US retails sales, the forecast for both wasn’t looking good a GBPUSD Long Position trade was for the taking.

With Brexit potentially weighing on GBP it has kept a steady level and managed some strength for a help to push up for a GBPUSD Long position, we managed to take £143.60

This could be a clue to the banks getting in a good position to hedge in case of good US data which will strengthen the Dollar and go short.

Either way, we did our analysis and took our opportunity to take a quick position.

GBPUSD Long Position

(Our trading and image was done using an account with UK based broker IG)

If you want to learn how to make money online, then click here to learn about one of our Traders

*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 




Capitalising on GBP Weakness 24th Oct + £78

So had GDP growth figures come out which showed that growth had increased despite the ongoing Brexit uncertainty, I was planning on capitalising on the pound weakness. Inflation was way above is annual target of 2% and without any nod from the Bank of England that they were planning on raising interest rates, for GBP, it looked as though the pound was on a downward spiral.

Until of course GDP figures were released yesterday, I closed out my short positions that I had and now I wait until next week for the 2nd of Nov when we’ll know for sure if the BoE raises interest rates.

 

GBP

GBP

(Our trading and image was done using an account with UK based broker IG)

If you want to learn how to make money online, then click here to learn about one of our Traders

*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 




 

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