FXOpen Spread The World

radex78 · May 17, 2019

Financial Commission mengumumkan Eksekusi Sertifikasi Kualitas Anggota Broker Tambahan

27 September 2018, Financial Commission, organisasi resolusi perselisihan eksternal (EDR atau external dispute resolution) terdepan yang beranggotakan anggota independen untuk pialang daring internasional yang berpartisipasi dalam pasar valuta asing global (forex), derivatif, dan CFD, hari ini mengumumkan sertifikasi pelaksanaan untuk beberapa broker tambahan. anggota menggunakan Verify My Trade, layanan "nilai tambah" yang baru diluncurkan.

Kualitas eksekusi pesanan terverifikasi

Setelah peluncuran baru-baru ini verifikasi pelaksanaan perintah dengan Verify My Trade (VMT), Financial Commission telah mengeluarkan sertifikasi kualitas eksekusi untuk FXOpen, Gerchik & Co, NPBFX, dan Olymp Trade.

Broker yang disahkan sekarang akan menyerahkan data eksekusi pesanan ke VMT secara berkelanjutan untuk memastikan bahwa eksekusi pesanan mereka memenuhi standar yang ditetapkan untuk semua anggota Financial Commission.

Periksa status broker Anda

Semua pihak yang berkepentingan sekarang dapat melihat hasil audit eksekusi untuk semua anggota Komisi Keuangan dengan mengunjungi halaman Anggota kami atau halaman profil dari broker yang terdaftar di bagian Anggota kami. Pialang bersertifikasi akan disorot dengan lencana unik seperti yang ditampilkan di bawah ini.

Dengan mengklik pada pengguna lencana akan menavigasi ke halaman web khusus untuk setiap broker yang akan menunjukkan terakhir kali audit dilakukan, berapa banyak pesanan yang dianalisis dan apakah hasilnya memenuhi standar eksekusi pesanan yang ditetapkan oleh VMT.

Apakah yang dimaksud dengan layanan Eksekusi Sertifikasi VMT?

Financial Commission telah bermitra dengan Verify My Trade untuk menyediakan baik broker dan pelanggan kemampuan untuk menilai kualitas eksekusi order. Mirip dengan persyaratan "pelaksanaan terbaik" di yurisdiksi internasional utama, layanan sertifikasi memberikan lapisan transparansi tambahan bagi pialang dan pelanggan mereka dengan menyoroti kualitas eksekusi perdagangan. Proses sukarela dan mudah digunakan menganalisis data perdagangan historis setiap bulan untuk menentukan eksekusi perdagangan yang memuaskan secara keseluruhan.

Jika Anda tertarik menggunakan layanan VMT atau ingin informasi lebih lanjut, silakan hubungi kami di info@financialcommission.org.

Sumber informasi https://financialcommission.org/id/...y-certification-of-additional-broker-members/

radex78 · May 17, 2019

Dolar AS Menunjukkan Kekuatan V. Loonie

The US dollar has rallied quite well against the Canadian dollar during the trading session on Friday, in a slight type of "risk". At this point, it is likely that the level of 1.35 will be broken again and broken. If that is the case then we have a clear target based on the recent 1.36 consolidation, which will make sense because there are concerns about the trade war again. If that happens, the commodity currency will be hammered because the pair will have a little "double whammy" attached to it because money will also fly to the US Treasury market, which makes new highs, offering very low yields in a clear environment negative.

As long as the bonds go well, the US dollar must continue to strengthen. This of course will conflict with all commodity currencies and at least the Canadian dollar, because the Canadian economy is not so hot right now. There is a lot of concern when it comes to the housing market, which has slowly deflated for some time. GDP figures are not very attractive, but we have recently had strong employment figures from Great White North, so there is a lot of confusion in terms of the economic picture.

With that, most traders feel much more comfortable having dollars in situations that are "as clear as mud." To the downside, we have a large amount of support on the 1.34 handle, which should offer a rather significant "floor" on the market. market. Buying with dips will probably continue to be the way people trade this market, and you must remember that this pair tends to trim because the two economies are interrelated.

radex78 · May 21, 2019

Aussie Merayakan Kemenangan Morrison Dengan Rapat Besar-Besaran

Dolar Australia menghentikan aksi jual selama lima hari pada hari Senin setelah kemenangan mengejutkan untuk Scott Morrison dalam pemilihan akhir pekan.

Koalisi Liberal-Nasional yang berkuasa di negara itu yang dipimpin Perdana Menteri Scott Morrison berhasil tetap memegang kendali dalam apa yang dianggap sebagai kemenangan ajaib karena partai Buruh secara luas diperkirakan akan menang. Guncangan yang dihasilkan oleh hasil pemilu sebanding dengan hasil referendum Brexit dan kemenangan Donald Trump pada 2016, tidak mengherankan bahwa pasar bereaksi kuat terhadap berita tersebut.

Aussie memulai minggu dengan gap bullish dan melonjak sebanyak 1% hingga diperdagangkan pada $ 0,6925 pada saat penulisan. Perubahan kekuasaan sering dikaitkan dengan periode ketidakpastian, sementara retensi pemerintah saat ini memungkinkan stabilitas dan konsistensi kebijakan ekonomi yang diharapkan. Selain itu, pasar bertaruh pada peningkatan pengeluaran yang dijanjikan oleh koalisi Liberal-Nasional selama kampanye pemilihan. Meskipun jumlah stimulus lebih kecil dari yang diusulkan oleh oposisi, itu pasti untuk memperkuat ekonomi yang telah kehilangan momentum baru-baru ini.

Namun, pertumbuhan bintang AUD / USD mungkin terbukti sementara. Ketegangan antara AS dan Cina dan meningkatnya ekspektasi penurunan suku bunga oleh RBA adalah tantangan yang mendorong mata uang lebih rendah selama minggu sebelumnya, dan mereka cenderung untuk kembali ke permukaan segera setelah reaksi pertama terhadap hasil pemilu. sudah selesai.

radex78 · May 21, 2019

Aussie Merayakan Kemenangan Morrison Dengan Rapat Besar-Besaran

The Australian dollar snapped a five-days long sell-off on Monday after a surprise win for Scott Morrison in elections over the weekend.

The country's ruling Liberal-National coalition headed Prime Minister Scott Morrison managed to stay at the helm in what is considered to be a miracle victory as Labor party had been widely expected to win. The shock produced by the election results is comparable to Brexit referendum outcome and Donald Trump's victory in 2016, no wonder that the market reacted strongly to the news.

The Aussie started the week with a bullish gap and jumped as much as 1% to trade at $0.6925 at the time of writing. The change of power is often associated with a period of uncertainty, while the retention of the current government allows expecting stability and consistency of the economic policy. Moreover, the market bets on increased spending promised by the Liberal-National coalition during the election campaign. Though the amount of stimulus is smaller than that proposed by the opposition, it is sure to reinforce the economy that has been losing momentum recently.

However, the AUD/USD stellar growth may prove to be temporary. The tensions between the US and China and growing expectations of the rate cut by the RBA are the headwinds that pushed the currency lower during the previous week, and they are likely to return to the fore as soon as once the first reaction to the election results is over.

radex78 · May 21, 2019

GBP / USD Bearish Tidak Terkesan Dengan Penawaran Brexit Terbaru Theresa May

Itu adalah hari yang tenang untuk data ekonomi Amerika Utara, meninggalkan perkembangan geopolitik sebagai fokus utama pasar. Dan dengan sedikit hal baru di front perang dagang AS-China, para pedagang fokus pada rawa geopolitik yang sudah lama mendidih, yaitu Brexit.

Dalam mungkin salah satu tindakan terakhirnya sebagai Perdana Menteri, Theresa May mengembangkan tawaran Brexit "baru" dengan Kabinetnya Selasa pagi. Intinya, May akan menawarkan kepada Parlemen pilihan tentang pengaturan bea cukai dan pemungutan suara pada referendum kedua - JIKA mereka mengesahkan tagihan perjanjian penarikan dirinya.

Mengingat fakta bahwa versi yang serupa dari RUU yang sama telah ditolak pada tiga kesempatan sebelumnya (dan beberapa anggota parlemen telah menentangnya), para analis ragu bahwa konsesi ini akan cukup untuk membuatnya melintasi batas. May akan menyampaikan kasusnya kepada anggota parlemen selama beberapa minggu ke depan menjelang pemungutan suara awal Juni yang dapat menentukan nasib PM.

Secara teknis, GBP / USD sedang mencoba untuk menembus beruntun yang tidak menguntungkan: pasangan ini telah diperdagangkan lebih rendah dari pembukaan ke penutupan di masing-masing dari enam hari terakhir, dan sepuluh dari sebelas terakhir, menumpahkan lebih dari 400 pips dalam sedikit lebih dari dua minggu saja !

Secara teknis oversold

Setelah serangan penjualan tanpa henti ini, indikator RSI telah mencapai wilayah oversold untuk pertama kalinya sejak Agustus, meningkatkan harapan potensi kenaikan. Yang mengatakan, anggota parlemen memiliki sedikit alasan untuk bangkit di belakang Mei pada saat ini dan dengan potensi bagi partai Brexit untuk membuat keuntungan dalam pemilihan Parlemen Eropa akhir pekan ini, pedagang dapat mendukung penjualan bouncing jangka pendek menuju support sebelumnya yang berubah menjadi resistance dekat 1.2800 karena peluang untuk bergabung dengan momentum bearish yang telah mapan

radex78 · May 23, 2019

The Australian Dollar Keeps Losing

Australian dollarThe Australian dollar can’t find a way out of the darkness. The AUD has been falling since January 2019 and it seems that the situation only worsens. Let’s see what factors will affect the currency in the middle term.

On May 20, the AUD firmed on the unexpected results of parliamentary elections. However, the rally was limited and the currency continued its downward movement. RBA meeting minutes (May 21) just worsened the situation. Comments by the central bank that the low cash rate is positive for the national economy were not new but this time they were more than just words. And although markets had already expected the rate cut on the June meeting, confirmation from the central bank pulled the currency further down. The meeting is on June 4, risks of the cut are high, what would prevent the plunge?

Before June 4, we don’t anticipate releases of any important economic data that can change the decision of the central bank. As a result, it’s more likely that the RBA will not change its decision and will cut the rate. However, as the rate cut is already priced-in there are high odds that a great fall will not occur.
Any chances that the RBA will not cut the rate? Yes, the decision is not taken. That’s why chances still exist.

Technical Picture

On the daily chart of AUD/USD, the pair has been moving towards the lows of January 2016 at 0.6832. The level is crucial for the aussie. If the pair slumps below it, the next support will lie only at 0.6287 – lows of the first quarter of 2009.
The recovery of the pair will be likely if only the pair is able to stick above 0.6952. Until then, any rise below this level will be considered as only a consolidation.

radex78 · May 23, 2019

Brexit chaos continues dragging pound down

The British pound has been a big loser recently, which is hardly a surprise to anyone. The British Prime Minister Theresa May is still struggling to get her Brexit deal through the parliament, while the opposition increasingly calls for her to resign. The degree of political and economic uncertainty skyrocketing, making it virtually impossible for the corporates to plan for the future or even do business.
The pound has been spiraling down for ten consecutive days and touched $1.2624, the lowest level of the year, on Wednesday. Despite a recovery from the recent lows, GBP/USD is still down 0.1% since Asia opening, changing hands at $1.2650. Against euro, sterling also lost 0.1% and dipped to 0.8816 euro per pound.
The pound is likely to stay a bear's case as there is little evidence that the political deadlock in Britain will be resolved any time soon. May's new version of the deal faces fierce criticism from both parties, and it increasingly looks like the parliament will rebuff anything that comes from May.
Scottish National party's Westminster leader Ian Blackford openly says that May's time is up, while the leader of the Labour party Jeremy Corbyn indicates his party would oppose the plan, despite the possibility of a new referendum if the parliament back the bill.
Moreover, it seems that Mrs. May is ready to yield to the MPs pressure and resign. She will announce that she is leaving her post as soon as tomorrow, on May 24, after a meeting with Sir Graham Brady, chairman of the 1922 Committee, the Times reports citing her allies.

radex78 · May 25, 2019

The U.S. Dollar Looses Against Safe-Haven Currencies

The U.S. dollar came under strong selling pressure as poor macroeconomic data coupled with rising tensions between the U.S. and China took the gloss off the greenback in investors' eyes.

The U.S. Dollar Index collapsed below 98.00 amid growing concerns over the health of the American economy and the side effects of the US-Sino trade war on the global economy. The steady sell-off on the equity markets added weight to the bearish sentiments and send the greenback lower across the board.

The new-home sales turned out worse than expected and registered the most significant month-on-month decline in 2019. The purchases of new single-family homes decreased by 6.9% in April, against the forecasted drop of 2.7%. It means that the housing market is losing momentum despite that a spring is traditionally considered a strong selling season.

The poor data renewed the fears that the U.S. economy might slip into a technical recession and reminded investors that the Federal Reserve might bring the key interest rates down to counter the economic weakness. Additionally, the US-China trade deal seems more like a distant dream than an achievable goal at this stage.

The above-said factors contributed to the dollar's falling, especially against safe-haven currencies like Japanese yen and Swiss franc. However, the sell-off may be limited in the long-run as the worries about the state of the global economy and local weakness of the overseas markets are likely to overshadow the dollar-negative factors.

radex78 · May 27, 2019

Euro horrified ahead of EU trade talks, European election results

The euro will likely experience higher volatility than usual in the next week. The main catalyst for price action that has the potential for violence can be a political based factor. This includes the results of European elections and candidates in the new EU parliament for positions in key regional institutions. Trade talks between EU trade ministers in Brussels can also guarantee the attention of traders with exposure to the Euro.

The European elections take place between 23-26 May and the final results are likely to be announced at the end of Sunday. The Eurosceptic parties are estimated to win up to one third of all seats in the EU legislature. This makes Europe potentially at the mercy of anti-establishment candidates, who historically have a tendency to disrupt the market with their agenda.

The Brexit referendum sent GBP, UK 10-year bond yields were lower higher USD

GBPUSD

The increasing number of Eurosceptic parties in the EU means that there is a higher possibility of anti-establishment candidates who will occupy influential positions in the main European institutions. On May 28, EU leaders will discuss potential competitors for the President's Commission, the European Council and the ECB. Depending on the ideological arrangement of the most popular candidates it can damage confidence in the Euro.

Increasing risk will be a meeting in Brussels between EU trade ministers who will discuss the state of trade relations with the US. One topic that will be discussed is how to avoid Washington imposing automatic tariffs on Europe. In areas where weakness in economic activity is still ongoing, trade wars with the US will only reduce the prospect and hurt the Euro.

radex78 · May 28, 2019

Win from $2,000 to $5,000 in "Money Managers" - a contest on real PAMM accounts

"Money Managers", a contest on real PAMM accounts, starts on June 3, 2019. FXOpen broker invites traders to take part in the competition and get impressive money prizes for a total of 10,000 USD. The best trader will get USD 5,000 in the form of investment to his/her PAMM account. For the second and third places, winners will receive USD 3,000 and USD 2,000 respectively. Registration is open till June 30.

Register here

Conditions of the contest

Dates: June 3 - August 30, 2019;
Registration is already open and will last until June 30;
Prize fund: USD 10,000;
Rewards*:
- 1st place - USD 5,000;
- 2nd place - USD 3,000;
- 3rd place - USD 2,000.

Initial deposit: any amount, but not less than the minimum amount for opening a PAMM account (for PAMM ECN - from USD 1,000, for PAMM STP - from USD 200);
Minimum trading period: not less than 2 months;
Minimum amount of trades per week: 2;
Trading volume: not less than 0.5 lot per stage;
Profit at the end of the contest: at least 20% of the deposit;
Drawdown during the contest must not exceed 20%**, and short-term drawdown of 25% and more, even if it was not recorded at a rollover will be considered as a loss and a cause for withdrawing the prize.

The winners of previous contests on real PAMM accounts "Heroes of PAMM" and "Forex Managers" who have made a drawdown of more than 30% are not allowed to participate in the competition.

During the contest, participants are allowed add or withdraw money from their accounts, receive investments to their PAMM accounts, create offers, use all instruments of a PAMM system with no restrictions, use any trading strategies, advisors (AEA, MEA, etc.) and any other standard MT4 add-ons and scripts.

It is prohibited to close for investors such statistics of your PAMM account as equity, drawdown, exposure level, completed trades. This data must be available for viewing.

* The prize will be added to an investment account according to 50/50 offer (50% of the profit goes to the manager, 50% - to the investor (company)).
** The company withdraws the funds in case the drawdown exceeds 20%.

The rating will be published in the contest thread weekly. You can watch the activity of each account online by clicking the links. All statistics will be taken from PAMM Account Rating.

How to join the contest?

If you don't have a PAMM account, you should open it:
- Register your account with FXOpen (if you already have a PAMM account, which had the drawdown less than 20%, turn to the 2nd step);
- Verify your main account;
- Open an investment account and add funds to it with any payment system in your FXOpen account;
- Open PAMM ECN or PAMM STP account.
Leave a link to your PAMM account in this thread (you can also leave a link to your existing PAMM account with the drawdown less than 20%).

Useful links:

radex78 · May 29, 2019

BTC/USD

The price of Bitcoin has been increasing since last week and has come up from $7550 at its lowest point on Thursday, to $8892 at its highest point made yesterday which is an increase of around 18%.

Looking at the hourly chart, you can see that the price of Bitcoin was still inside the territory of the symmetrical triangle made by the corrective 4th wave, last week. As the correction developed fully, establishing support again on the triangles support level another and the final wave has started to develop. This final ending wave of the Minute count and with the 5th wave from the higher degree Minor count. As it hasn’t developed fully another increase would be expected but only as a minor once, potentially reaching $9400 before its completion.

But after the completion of the five-wave move, I would be expecting a higher degree downtrend to start which could be the start of the downtrend which is set to bring the price of Bitcoin significantly lower, to some of the broken resistance levels which were broken on the way up, out of which the most significant one is at around $6250-6500. A retracement back to the broken resitance for a retest of support could be seen as a test of support. If the price falls to hold above this key support, further downfall could be seen to the next significant support zone which is at around $4300 level

radex78 · May 30, 2019

EUR/USD UNDER PRESSURE

The Euro started a strong rise from the 1.1107 swing low against the US Dollar. The EUR/USD pair climbed above the 1.1155 and 1.1200 resistance levels. However, the bulls failed to keep the pair above the 1.1200 level.

A swing high was formed at 1.1215 on FXOpen and the pair recently started a downside correction. It broke the 1.1200 and 1.1185 support levels to enter a short term bearish zone.

During the decline, the pair settled below the 1.1185 level and the 50 hourly simple moving average. Moreover, there was a break below a connecting bullish trend line with support at 1.1188 on the hourly chart.

The pair is currently testing the 50% Fib retracement level of the last wave from the 1.1107 low to 1.1215 high. On the downside, the main support is near the 1.1148 and 1.1145 levels.

The 61.8% Fib retracement level of the last wave from the 1.1107 low to 1.1215 high is also near the 1.1148 level. On the upside, there is a strong resistance forming near the 1.1180 and 1.1185 levels.

There is also a key bearish trend line forming with resistance near 1.1182 on the hourly chart of EUR/USD. Therefore, a short term recovery is likely to face a strong selling interest near the 1.1185 level. The next important resistance for the bulls is near the 1.1200 level

radex78 · May 31, 2019

EUR/USD UNDER PRESSURE

The U.S. Dollar Index continued its steady ascent, nearing two year highs on Thursday as trade tensions between China and the United States intensified.

The index gauges the value of the dollar relative to a basket of six major currencies.

China-U.S. Trade War

A slew of alarming headlines has left the markets rattled this week and given rise to a ‘risk-off’ atmosphere. President Trump said on Monday that the U.S. is “not ready” for a trade deal with China. The People’s Daily, China’s largest state owned newspaper, followed up on Wednesday with a commentary titled “United States, don’t underestimate China’s ability to strike back”.

This warning was in turn followed on Thursday by Chinese Vice Foreign Minister Zhang Hanhui stating that provoking trade disputes was “naked economic terrorism”. The news in particular sparked fears that China could restrict its export of rare earth materials, which are essential components widely used in high-tech consumer electronics.

The U.S. dollar has been boosted by virtue of it’s safe haven appeal. Meanwhile the Japanese yen, which is normally in high demand during tumultuous periods, has been held down by domestic demand for dollars according to analysts.

Rate Cuts

Concerns over the trade war have led analysts to expect two Federal Reserve rate cuts by 2020, amid concerns over slowing global economic growth and soft industrial production, retail sales and durable goods figures. Previously the markets had anticipated only one rate cut.

radex78 · May 31, 2019

GOLD PRICE CLIMBING

Gold price started a decent upward move after forming a support base near $1,274

Gold Price Technical Analysis

Gold price found support near the $1,270 level and recently started an upward move against the US Dollar. The price settled above the $1,274 pivot level and extended gains above the $1,280 level.

The recent rise was positive above the $1,285 and $1,290 resistance levels. Moreover, there was a close above the $1,285 level and the 50 hourly simple moving average.

During the upward move, there was a break above a major bearish trend line with resistance at $1,284 on the hourly chart of gold. The price traded above the $1,290 level and recently traded close to the $1,294 level on FXOpen.

At the moment, the price is correcting lower towards $1,288. An initial support is near the 23.6% Fib retracement level of the recent wave from the $1,275 swing low to $1,294 high.

However, the main support is near the $1,288 level (the recent resistance area). The next support is near the $1,286 level and the 38.2% Fib retracement level of the recent wave from the $1,275 swing low to $1,294 high.

If there are more losses, the price might test the $1,285 support or the 50 hourly SMA. On the upside, if the price breaks the $1,294 and $1,295 levels, it could test the $1,300 resistance area.

radex78 · Jun 3, 2019

US Dollar Index Speculator Positions

Large currency speculators slightly lifted their net positions in the US Dollar Index futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 27,098 contracts in the data reported through Tuesday May 28th. This was a weekly rise of 386 contracts from the previous week which had a total of 26,712 net contracts.

This week’s net position was the result of the gross bullish position dropping by -1,481 contracts (to a weekly total of 41,919 contracts) while the gross bearish position fell by -1,867 contracts for the week (to a total of 14,821 contracts).

Speculator positions edged higher for a second week after having previously fallen for four out of the previous five weeks. Despite another week’s slight uptick, the recent trend of the USD Index bets steadily trending downward remains intact.

Overall, the current standing has now been under the +30,000 net contract level for eleven straight weeks after having been above that threshold for the previous thirty-two weeks in a row.

Source investing

radex78 · Jun 3, 2019

FXOpen offers No-Commission Deposits throughout the summer

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radex78 · Jun 5, 2019

Dollar On The Back Foot Ahead Of Powell

The greenback continues to retreat against the major rivals on Tuesday. EUR/USD pair jumped to April 18 highs around 1.1275, where the 100-DMA lies. The pair sees the third day of gains as the selling pressure around the common currency has eased after it found a bottom marginally above the 1.11 handle earlier last month.

The negative pressure on the dollar rose after yesterday’s dovish comments from Bullard. The Fed official said that interest rate cut “may be warranted soon” given the rising risk to economic growth posed by global trade tensions as well as weak US inflation. Against this backdrop, traders rushed to sell the greenback as the central bank signaled it could change its stance on rates.

Now, market participants are waiting for Powell’s testimony due later today. Should his tone come as more neutral, the dollar could switch into a recovery mode on signs of relief. Besides, the downside potential in the US currency could be limited by the persistent risk aversion. In this scenario, EUR/USD may retreat from the current levels and get back below 1.1240.

radex78 · Jun 6, 2019

EURUSD POSSIBLE TO REVERSE

During Wednesday's trading session, the eurusd pair has formed a bullish pattern at the daily timeframe

The gartley pattern is one of the patterns in the harmonic pattern that gives an indication of fixing the price trend, if seen forming the letter W or M, using fibo level as an aid to map a valid pattern

With the appearance of the gartley pattern signal it is possible to sell and give stop loss bats in anticipation if the formed pattern fails as the right formation

radex78 · Jun 7, 2019

EURUSD: Outside Up Day

The EUR/USD daily Forex chart reversed down yesterday from its break above the month-long trading range. However, it is reversing back up today. Traders are deciding if yesterday is a reversal or a pullback.

Yesterday was an outside down day. But today is now an outside up day. This is a consecutive outside day pattern, which is a reliable buy signal for tomorrow. It will be stronger if today closes above yesterday’s high.

Because of the yearlong bear channel, the bears want a reversal down. Every prior rally has reversed down within 2 – 3 weeks.

However, a bear channel has a 75% chance of an eventual successful bull breakout. Consequently, one of these breakout attempts will probably be the start of a bull trend that will last many months.

The bulls need consecutive closes above the March 20 major lower high to end the bear channel. Until then, the odds continue to favor bear rallies and reversals down after 2 – 3 weeks.

Legs in trading ranges tend to go beyond minor support and resistance before reversing. The April 12 minor lower high is just above. This rally might have to get above that high before the bears will sell aggressively.

Since the June 19 FOMC meeting is more important than usual, all financial markets might begin to go sideways into that report. Then, on the report, traders would decide on the direction of the next move.

radex78 · Jun 8, 2019

GBPJPY in a bearish shadow

GBPJPY is still in a bearish tendency, at the BBMA 50 the trend is a significant decline, the sterling eye is still weakening due to the government not being able to get out of the red Brexit condition.

But on a lower time frame, the buy signal has given an indication to this pair with a moderate target and does not forget to use stop-loss as an anticipation step

Many traders close positions on weekends because they avoid swaps at the end of this week, and wait for the market to reopen next Monday with new analysis conditions

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