Remember TESCO Gaps At Least Five Times Per Week! And They Say Forex Is Risky!
My Profitable Signal is here
September 22nd 2014. They say that trading Forex is risky and of course it is. However the implication is often that trading equities is not risky. For those people I have one word this morning, Tesco! TSCO and all equities gap at least five times a week and while forex can gap too, it’s not anywhere as much as that. End of rant!
It is a slightly mixed bag this week. I will be looking for a move higher this week in Kiwi, EURUSD and GBPUSD but otherwise it should be a case of dollar strength.
USDCAD seems to have found its footing and should continue to be supported by 1.09 and beneath that 1.0780 rising trend support ultimately for a challenge of the 1.12 march highs.
EURUSD I have opened some shorter term positions this morning but ultimately I am looking for a successful close above 1.30 being the highs of last weeks candle. A close above here sets us up for a continuation higher in the weeks ahead
GBPUSD fairly correlated with EURUSD and looks a good deal safer to buy now that the referendum is over with. Declines should be supported by 1.6160 being last weeks low.
XAUUSD The trend is clearly down after the break lower out of the apex of a wedge formation. Only a close above $1238 will say otherwise. I have sold more.
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