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Since Teresa May resigned as Prime Minister, what has changed regarding Brexit uncertainty? As Boris Johnson appears to be the odds on favourite at this stage of replacing May, is that likely to lead to GBP strength or weakness? Mr. Johnson is portrayed as a hard Brexiteer which suggests GBP weakness until more is known. […]
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These are tricky times to trade and trends may be changing. Despite a surplus in crude oil inventories this week, the USDCAD moved lower today. As it failed to stay above the 1.3400 figure, a short was taken early in the U.S. session risking 12 pips for a potential 33 pips to our daily target […]
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Most of the majors are trending, but the daily ranges are confined and it’s been difficult the past couple of weeks to make more than 15 or 20 pips in a pair intraday. As a result, I have not been posting. Today the GBPUSD gave us 25 pips to the downside. Risking 15 pips for […]
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The USD index continued to move higher today and we will see if it closes above 98.00 to end the week. The Canadian dollar one would think would be having a good week too after favourable comments regarding the economy from the Bank of Canada’s Governor Poloz. WTI oil has continued upward this week, but […]
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The market appears to have turned its focus away from selling the USD this week, despite the rhetoric between the U.S. and China. On Monday the USD sold off and then bounced and has shown strength each day since. The GBP remains mired in British political uncertainty and continues to offer short setups as it […]
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The GBPUSD is trending lower again and a failure to get above a critical level today near 1.2960 created a short entry…also ending its retracement wave higher. The trade required a 15 pip stop loss for a potential 61 pips to our daily target at 1.2888. Price continued lower as the U.S. session got underway […]
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The markets have been waiting for a positive end to the U.S. – China trade talks, but the drama continues and the sentiment is “risk off” today. A currency pair that is useful for gauging risk is the Australian dollar Japanese yen. The Aussie being a commodity currency and the yen being a safe haven […]
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British political turmoil continues and a Brexit solution still appears to be far away. As the U.K session got underway, price moved down to test yesterday’s lows and bounced upward to test its Asian session low. Price was unable to close above this level and and short was taken risking 17 pips for a potential […]
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The daily ranges of the major currencies have been very subdued as the markets await the U.S. – China trade talks outcome. There had been optimism that an agreement would be completed this week, but President Trumps’ Sunday tweets have changed the likelihood of that happening. On Monday there were major sell-offs in the stock […]
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Private Forex Coaching by Michael Bridgman - 1M ago
Today as the U.K. session got underway, the GBPUSD climbed above its Asian session high and tested Friday’s high. It then pulled back and went back and forth as the market digested Gov. Carney’s speech. After it broke and closed beneath its Asian high, a short was taken risking 9 pips for a potential 53 […]
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