Elkana Roveglia BA
Takemytrades.com
EURGBP this week has been very profitable giving us a technical move that many traders ignore. As I mentioned yesterday, this currency pair has reached the bottom of the trend and is now retracing. Remember that only 20% of the money are made against the trend whilst 80% are made with the trend. So, because you are a professional and smart trader you will wait for a sell opportunity. It is now unclear how the EURGBP will do the correction, however you are invited in the either London or New York room by clicking on the 10 day free pass image.
Take My Trades, Forex signal service and education is provided for the purpose of learning about the Forex market. It does not aim to guarantee that you will be a successful trader overnight, this is a process that takes time and commitment, learning the fundamentals and technicality of the financial market. This service shows how a successful trader reviews the trends and signals of the market and takes trades based on fundamental trading rules. Take My Trades is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the currencies or other instruments featured on this website. You understand and acknowledge that there is a very high degree of risk involved in currencies and other leveraged financial instruments. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results.
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EUR/USD lost its traction and declined below 1.0700 after spending the first half of the day in a tight channel. The US Dollar extends its recovery following the strong Unit Labor Costs data and weighs on the pair ahead of Friday's jobs report.
GBP/USD struggles to hold above 1.2500
GBP/USD turned south and dropped below 1.2500 in the American session on Thursday. The US Dollar continues to push higher following the Fed-inspired decline on Wednesday and doesn't allow the pair to regain its traction.
Gold slumps below $2,300 as US yields rebound
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
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Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.