GBPUSD: Sell around 1.24, target 1.2200

Evolize.com Data Scientist Team Evolize

This week according to our predictions, we are looking to sell GBPUSD. The graph below shows us two histograms - yellow for the High predictions and blue for the Low. As you can see in the graph below, mode of high predictions is at the price 1.1800 and low predictions histogram is bimodal and these modes are at 1.1800 and 1.1600. Since the current price is at around 1.2400 we can open a short order and look forward to collect the profit when the price reaches 1.2200. Algorithm shows that for such order we have 86.2% probability. The modes are a bit lower than the suggestion of an order because it would be unusual for GBPUSD to drop that low (1.18) so we are playing it safe.

Evolize algorithm doesn't take into account any fundamental events that will happen this week. Therefore, you might want to take a look at them yourself. If you believe, that these events can came out unexpectedly or/and will have effects that the algorithm didn't take into account - be careful with the prediction.

We highly discourage you from trading only one currency at the time. Diversify risk, even if you are confident.

To better understand how Evolize works let's take a look at the previous week. Here's a last weeks USDJPY graph.

One is screenshot is done at the beginning of the week, the other is after the week ended. We had 55% probability to reach 114.0 and a price at the beginning of the week was around 115.0.

114.0 was reached on Thursday and the price went even lower to 113.0.

Evolize model predicts Forex rates using deep learning techniques like Long-short tem memory and others. Evolize predicts possibility of reaching certain price point for the pair within given period (hour, day or week).

Detail guide of how to use Evolize predictions to your advantage is here.

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Evolize.com Data Scientist Team

Evolize

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