Today’s Market Calls of EUR/USD GBP/USD GBP/JPY and Gold Forecast- 7

Somnath Das Independent Analyst

Urgent Pair GBP/JPY Hourly Chart:

Ultra Specific Ceteris Paribus Strategy:

“Without strategy and execution, a great idea will remain just a good idea.”- Dom

By keeping in mind the daily target price constant trade frequently 3- 4 times a day. Maintain a free margin level approx 2900%. With this trader can hold open positions up to 600 pips (approx) if opposite scenario happen. It is applied in a 1:500 leverage setting (Adjust Floating Leverage). Hold the open positions overnight in case of verified short term trend for maximum profit.

Always maintain a portfolio of 3 out of 4 pairs and distribute total trading volume among them.

Unique Trading Process:

Trading process is based on ZIGZAG Analysis and combining with ADX and Elliot wave oscillator. First, predicting buy/sell any type (limit/stop) intraday. Second, identifying any type of hourly candlestick pattern formation, it is suggested to enter 1st position (buy/sell) at any level between the average of daily entry and sl/tp price.

Third, try to book initial quick profit to verify predictions validity. This process can be repeated twice or thrice in sidewise market. Also distribution of positions by averaging method will be helpful. This way we can maximize intraday profit, provided that the daily market direction is verified and holds true.

Fourth, on the fundamental side we will check the price action more during the news in economic calendar on CPI (Consumer Price Index) data of EUROPE, UK, USA, JAPAN, CANADA, SWEDEN, and SWITZERLAND.

On January 15, 2019, the United Kingdom Parliament is scheduled to vote on the Brexit agreement.

Useful Daily Market Direction | Daily Trading Levels:

1. BUY EUR/USD

Weekly Trend- Up

Price- Entry- 1.1465, Take Profit- 1.1582, Stop loss- 1.1365

2. BUY GBP/USD

Weekly Trend- Up

Price- Entry- 1.2835, Take Profit- 1.2922, Stop loss- 1.2710

3. BUY GOLD/XAU/USD

Weekly Trend- Up

Price- Entry- 1290, Take Profit- 1305, Stop loss- 1258

4. BUY GBP/JPY

Weekly Trend- Up

Price- Entry- 138.66, Take Profit- 140.57, Stop loss- 137.28

The price is always changing, will you lead or follow?

Author

Somnath Das

Independent Analyst

Without strategy and execution, a great idea will remain just a good idea.

EUR/USD retreats toward 1.1600 after upbeat US data

EUR/USD pulls away from session highs and declines toward 1.1600 in the American session on Wednesday. Upbeat private sector employment and ISM Services PMI data from the US help the US Dollar (USD) stay resilient against its rivals, limiting the pair's upside.

GBP/USD meets resistance around 1.3400

In line with its risk-linked peers, GBP/USD stages a modest comeback on Wednesday, although meeting some resistance around the 1.3400 neighbourhood. Cable’s humble recovery struggles to gather momentum as the Greenback benefits from better-than-forecast macroeconomic data releases.

Gold loses traction after testing $5,200

Gold corrects lower after testing $5,200 but manages to stay in positive territory in the second hald of the day on Wednesday. The precious metal remains well supported by the deterioration of the geopolitical scenario in the Middle East, while the US Dollar's resilience caps the upside.