A stable government optimism in Gbp/usd seems to be priced in, pair is back off the recent highs of above 1.35000. Clear majority for Boris Johnson came with a big responsibility of safe and sound Brexit, clear majority doesn’t mean Brexit with a deal, but still there is a long way to go till Brexit with deal or no deal. U.K. and E.U. will move into a transition phase, where negotiations on trade, legal, immigration, and several other issues will be done. Both E.U. and U.K. will try not to sacrifice their respective interests, negotiations will be complex and controversial, so to reach the conclusion will not be an easy task.
Following are the daily forex opportunities in some major forex pairs and CHART of the WEEK.
EUR/USD:– Sell on rallies strategy was recommended in this pair, the pair is well off it’s highs currently consolidating it’s recent moves, will wander here for some time currently trading at 1.11300. Sell on rallies strategy is still valid in this pair to earn decent profits.
GBP/USD:– Gbp/usd is well off it’s recent highs of 1.35067. Sell on rallies was recommended in this pair, and sell on rallies strategy is still valid in this pair to earn good profits, pair is currently trading at 1.33850 at the time of writing.
USD/JPY:– USD/JPY made a bottom at 108.500 recently and currently trading exactly at the mid of it’s price range currently trading at 109.400. Traders should let the profits run for now till the pair find it’s Top in next couple of days.
USD/CHF:– USD/CHF is still firm and bid right now currently trading at 0.98400, pair is trying to find it’s Bottom and will probably succeed in the same in coming days, buy on dips will be a profitable strategy in this pair.
AUD/USD:– AUD/USD is trying to form a Top and will probably succeed to do so in coming days currently trading near 0.68700 off it’s recent highs of 0.69400. Pair will consolidate it’s recent moves for some time, sell on rallies strategy will be profitable in the pair to earn good profits.
NZD/USD:– Same as AUD/USD, NZD/USD is trying to find it’s Top and will probably succeed to do so in coming days currently trading at 0.65930. Pair will consolidate it’s recent moves for some time, sell on rallies will be profitable strategy in this pair to earn good profits.
Stay tuned for more daily forex opportunities tomorrow.
DISCLAIMER:- Forex trading involves significant amount of risk, may not suitable for all. However the above information is deemed to be reliable, traders should trade according to their risk and money management.
Forex Trading Analysis 