|

Currency Market: GBP/USD day trade and USD/JPY weekly trade

AUD/USD for RBA traded 40 pips and in one direction. What effect does wages, Inflation, GDP, promises to raise interest rates today, tomorrow or 1 year from today have on the current or future market price. The answer is zero effect. The market price doesn't care so all the many pages to written words regarding economics is meaningless. Its meaningless to  trades, direction and profits.

A market or currency price is as good as the MA allows. AUD/USD achieved 0.7119 today from 0.7028 RBA lows due to oversold rather than RBA words.AUD/USD doesn't care about RBA words.

In past years, possibly economics contained value but in today's new trade environment, its no longer the case. This is year 2022 and traders must not only accept the new reality but massive trade strategy adjustment is required.

USD/JPY Weekly Trade

Short 115.39 and 115.52 to target 114.18. Long 114.18 to target 114.58. Or short 113.79 to target 113.38. Long 113.38 to target 113.52.

Result: top 115.52, perfect. Lows 114.55. Trade runs +97 pips.

Perfection is maintained yet its impossible to not achieve excellence as trade strategies are not only in place for many years but designed for perfection and includes day trades, 24 hour trades and long term trades.

Targets and entries are achieved on 19 currency pairs per week. Honestly, tell me anyone that can achieve this status. Few if any exist.

My work over many years and contributed freely to Fxstreet and my blog at btwomey.com was offered with the hope to assist traders with trade strategies, profits and market understanding. Understanding must include data entries to quantify market concepts. The life of a trader is all about data and exist as a duty to this day.

My hard, hard work was done over years and years of weekends with honesty, integrity and gained was a wealth of knowledge. God's blessings allowed me to hang around. The hope today is I'm assisting traders to make trading life and profits easier.

I severely differ with the dishonest,  crooks, currency analysts and professional losers of our day and many exist. They haven't begun to live the life of a true analyst and trader.  Dishonesty doesn't make money but only brings a hard life to victims by theft of account money.

Day trades offered are extraordinarily fascinating. I have seen and learned concepts that I never knew existed and these approaches will apply to future day trades. We day trade 8 currency pairs twice daily or nearly 24 hours per day.

Far more is going on with day trades than what is revealed.

Imperative to day trades are the levels offered and those levels are mathematically exact. Again, show me anybody to perform such functions. None exist.

GBP/USD

Long Short Line 1.3451

Most Important 1.3406 and 1.3420 Vs 1.3459, 1.3468, 1.3476, 1.3485, 1.3502, 1.3510 and 1.3519

Bottom 1.3383 achieves by 1.3417 and 1.3400

Upper target 1.3519

Continuation Fail 1.3485

GBP/USD traded 31 hours from Sunday's open from 1.3386 to 1.3516 or 130 pips or 4.19 pips per hour.

GBP/USD best weekly trade time was yesterday in the hours from 6:00 am to 9:00 am as GBP/USD traded 37, 27 and 33 pips. GBP/USD 2nd best hour traded today 35 pips from 2:00 am to 3:00 am.

1:30 am to 2:00 am = 1.3443 to 1.3449 or 6 pips.

2:00 am to 3:00 am = 1.3443 to 1.3478 or 35 pips.

3:00 am to 4:00 am = 1.3469 to 1.3482 or 13 pips.

4:00 am to 5 :00 am = 1.3480 to 1.3500 or 20 pips.

5:00 am to 6:00 am = 1.3494 to 1.3502 or 8 pips.

6:00 am to 7:00 am = 1.3493 to 1.3513 or 20 pips.

7L00 am to 8:00 am = 1.3500 to 1.3475 or 25 pips.

8:00 am to 9:00 am = 1.3476 to 1.3496 or 20 pips.

Results: 1.3443 to 1.3513 or 70 pips. The hourly pip average dropped from 20.75 yesterday to 18.37 today.

Author

Brian Twomey

Brian Twomey

Brian's Investment

Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.

More from Brian Twomey
Share:

Editor's Picks

AUD/USD eyes 100-SMA hurdle near 0.7035 as hawkish RBA counters firmer USD

AUD/USD regains positive traction on Tuesday and climbs to 0.7030 during the Asian session, reversing the previous day's corrective slide from a one-month high as hawkish RBA rate expectations continue to support the Aussie. Spot prices, however, remain below the 100-day SMA pivotal resistance amid a firmer US Dollar as traders brace for Australia’s September CPI report on Wednesday ahead of the Fed rate decision.

USD/JPY sticks to modest gains above 157.50 as traders await Fed, BoJ meetings

USD/JPY attracts buyers for the third straight day, recovering further from a one-month low ahead of Wednesday’s FOMC decision and the BoJ policy update on Friday. Meanwhile, expectations that the BoJ may hold off on aggressive rate hikes weigh on the Japanese Yen, and the US Dollar advances to a nearly two-week high, supporting the currency pair.

Gold holds above $4,000 as traders brace for Fed interest rate decision

Gold edges higher during American trading hours on Tuesday after trading in negative territory earlier in the day. A slight decline in Oil prices offers some relief, although a firmer USD limits the upside as traders await the Fed’s monetary policy announcement on Wednesday.

Crypto Today: Bitcoin, Ethereum and XRP on edge as sell-side pressure intensifies

Cryptocurrency prices are broadly correcting on Tuesday, led by Bitcoin (BTC) edging lower below the pivotal $80,000 level. Ethereum (ETH) mirrors Bitcoin’s neutral-to-bearish outlook, while Ripple (XRP) hovers around $1.30.

Experts agree: Fed policy outlook and geopolitical tensions keep US Dollar bid

The US Dollar Index rallies 0.6% in three days and hits fresh two-week highs above 102.00. Investors return to the US Dollar as markets brace for a hawkish hold by the Fed on Wednesday. Waning hopes of any immediate US-Iran peace deal have provided additional support to the safe-haven USD.

What November 3 means for the Fed's rate path and the US Dollar

The USD faces a decisive period ahead of the November 3 midterm elections. While markets anticipate another interest rate increase from the Fed in December, the battle for control of Congress could reshape fiscal policy expectations and, indirectly, the path of US monetary policy in 2027.