Welcome to another live session! In today’s live session we briefly went over the technical and fundamental analysis behind our GBPUSD & GBPAUD trades, the markets reaction to the lackluster USD Manufacturing PMI and why we have decided to short GBPJPY.
Last week we had taken shorts on GBPUSD & GBPAUD which in turn brought in just short of 300 pips. This week the Pound continued to drop against the dollar and GBPAUD ended up getting stopped out at entry.
Check out our GBPUSD & GBPAUD analysis here: GBPUSD & GBPAUD Analysis + Profit Recap
US Manufacturing PMI came out at 47.8 vs. a forecast of 50.4. This caused many of the majors to gain on the dollar, including our Gold short. Our live Gold short call dropped 200 pips before it’s reaction to the new release.
Today morning I have decided to call a GBPJPY short trade as the pair had failed to rally any higher than 133.325. We enter a sell after the pair close below support at 132.000. As it is NFP week, we want to be picky about the trade setups we take. We are off to a great start to the week, and we will continue where we left off tomorrow at 11:00 AM EST on our Portal. Take care.
Watch the Session Here: https://www.forexlens.com/portal/
Check out yesterday’s live session write up: September 30th, 2019 Live Session