In today’s live session we went over the technical and fundamental analysis on our two losing trades from last night. We then briefly sent over our game plan for the reminder of the week and trading the NFP this coming Friday.
Last night during the London session, we called a sell on GBPAUD & Gold as the technical analysis indicated a sell-off. However, heading into the New York trading session, both trades had hit their stop loss. We have also seen some recent volatility in the Pound yesterday with our GBPJPY trade which is mainly due to the uncertainties lying around Brexit. EURUSD continues to gain on the US Dollar as the ADP Employment Change at 135,000 vs. the expected 140,000. We may see the pair make a rally to 1.09800.
This week is NFP week and historically speaking it has been one of the more challenging weeks to trade. As a precautionary measure, we will reduce the volume of trades we take and instead look to take advantage of the volatility. This Friday we will be doing live trading of the NFP release. Our live session for this Friday will be set to start at 8:00 AM EST. Be sure to join. The session will be a mix of technical and fundamental analysis.
There is still an array of geopolitical news being released concerning US threatening to put tariffs on the EU, US and Japan trade deal, Boris Johnson’s appeal for Brexit and more. Therefore, we think it is best to be patient and wait for better setups. We will see you all tomorrow at 11:00 AM EST for another live session.