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: Gains remain capped by 1.1650

EUR/USD remains in recovery-mode following the closing bell in Euroland on Wednesday, hovering around the 1.1650 zone amid renewed downside pressure on the US Dollar and a marginal improvement in the global sentiment.

GBP/USD appears bid around 1.3370

GBP/USD reverses part of its recent multi-day decline, gathering some balance and managing to reach the 1.3400 region, where some initial resistance seems to have turned up. Cable’s uptick comes in response to some loss of momentum in the Greenback despite the geopolitical scenario remaining fragile.

Gold recovers modestly despite intensifying Middle East crisis

Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.