This week forex signal:
We see a great fall of GBP/USD mainly caused by Gas price. The gas price dropped significantly last week which boost up the US Dollar.
Secondly, the dump money was chasing after USD which is good for us.
Now, if you want to trade right away, buy below 1.9200 and set your stop loss at 1.9090. Or you may want to wait for price to retest the previous low which is 1.9123 and buy from there. Or you might want to buy 50% right now and buy later when it retest the low if it happened to be.
That's for this week. We may see a good trade this week. The target is at 1.9500 level.
Have a great trading week!
P/S: NO forex signals during this week as I won't be around. Be careful trading forex! :)
God bless!
2 comments:
Are you sure lower gas price propped up the dollar? Or is it a stronger dollar caused the price to come down?
And what the heck is "dump money"? Dump?!? Or do you mean "dumb"?
You can check it out when the gas price is falling quickly, the currency pair falling quickly. The gas price will affect more in USD/CAD pair.
:) Dump money and dumb money are quite the same for me... :D
They are money that invested in the foreign market without knowing the direction of the market.
The US Dollar is not strong as we can see now. It's only because of the Gas. If you asked Warren Buffet, I believed he is shorting US Dollar now.
The Big investors are buying the GBP and Selling the USD. We just need to be patient and wait for the market to turn. Next week might see that situation. We don't know. Let the market price tells us. But I'm sure that the fall of GBP/USD these 2 weeks gives us a good buy in coming trade.
Watch out! :)
Take care!
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