We have been waiting and trading this currency pair since the beginning of the week. Patter where showing us a buy opportunity which we had however we never quite finished the original rectangular formation and its 170+ pips. At present as of 13.05 at 7am UK time I am still waiting for a breakout from this wedge pattern and a continuation for a buy opportunity. Convergence is on our side too, we just need few big boy sending the signal to the rest of the investors. Today I will be paying close attention to this pair as the weekend is near and most of you will want to other take profit or get out of this trade. If you will decide to come out remember that you can always get back in after the weekend once the market reopen.


 

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.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD drops to near 1.0650 ahead of Fed policy

EUR/USD drops to near 1.0650 ahead of Fed policy

EUR/USD continues its decline for the second consecutive day, hovering around 1.0650 during Asian trading hours on Wednesday. With European markets largely closed for Labour Day, investors are expecting the Federal Reserve's latest policy decision.

EUR/USD News

GBP/USD holds below 1.2500 ahead of Fed rate decision

GBP/USD holds below 1.2500 ahead of Fed rate decision

The GBP/USD pair holds below 1.2490 during the early Wednesday. The downtick of the major pair is supported by the stronger US Dollar amid the cautious mood ahead of the US Federal Reserve's interest rate decision later on Wednesday. 

GBP/USD News

Gold sellers keep sight on $2,223 and the Fed decision

Gold sellers keep sight on $2,223 and the Fed decision

Gold price is catching a breather early Wednesday, having hit a four-week low at $2,285 on Tuesday. Traders refrain from placing fresh directional bets on Gold price, anticipating the all-important US Federal Reserve interest rate decision due later in the day.

Gold News

Ethereum dips below key level as Hong Kong ETFs underperform

Ethereum dips below key level as Hong Kong ETFs underperform

Ethereum experienced a further decline on Tuesday following a disappointing first-day trading volume for Hong Kong's spot Bitcoin and ETH ETFs. This comes off the back of increased long liquidations and mixed whale activity surrounding the top altcoin.

Read more

Federal Reserve meeting preview: The stock market expects the worst

Federal Reserve meeting preview: The stock market expects the worst

US stocks are a sea of red on Tuesday as a mixture of fundamental data and jitters ahead of the Fed meeting knock risk sentiment. The economic backdrop to this meeting is not ideal for stock market bulls. 

Read more

Majors

Cryptocurrencies

Signatures