Bust or boom? Forex trading long GBP/CHF [Video]

In a surprise rumour, the Bank of England may not raise interest rates this week.

How will that affect the Pound?

 

The charts show weakness on GBP pairs, but this may change this week if the Bank of England votes to leave Interest Rates where they are.

The forecast says just that.

EURGBP opened with a huge gap this morning but the gap was filled quite quickly.

If we look at the 4-hour and daily charts, the prevailing direction is bearish and if GBP gets stronger, we may be looking at a nice short trade.

Also, the stochastic oscillator is very overbought.

We see a long opportunity on GBPCHF with price action at the lower trend line.

The stochastic oscillator looks a bit flakey but it is currently oversold.

If you look around various charts, you will see quite a few huge weekend gaps around the Monday morning opening in New Zealand.

You may think that these are great trading opportunities and sometimes they are.

However, if you try it you will notice that the spreads are so wide, you may be quite disappointed when you open a trade, beware.

We were looking at a long trade last time on the DJIA, buying the dip, as the other major indices are bullish.

The dip on the Russell 2000 index of small-cap companies, however, may be in doubt if the next US president follows through on his tariff threats.  

Watch this space and we will keep an eye on price action and the news.

Getting back to the economic calendar, we have an incredible amount of opportunities including an Interest Rate Decision from the Bank of Japan.

Related Posts

Dollar to Pause for Consolidation After Failing to Break Euro Resistance Post-Fed

Dollar to Pause for Consolidation After Failing to Break Euro Resistance Post-Fed

Có thể bạn quan tâm Discover FXiBot: Avenix Fzco’s Latest Forex Robot Aims To Positively Impact Forex Trading Strategies Gold Signals Caution: A Shift in Trend Ahead?…

Trade ideas thread - Monday, 23 December, insightful charts, technical analysis, ideas

Trade ideas thread – Monday, 23 December, insightful charts, technical analysis, ideas

Có thể bạn quan tâm Forex Signals Brief December 16: FED, BOE and BOJ Meetings This Week Trade of the week: end of year result – up…

Weekly Forex Forecast - 22/12: (Charts)

Weekly Forex Forecast – 22/12: (Charts)

Có thể bạn quan tâm India’s forex reserves fall to $652.87 billion, down $1.98 billion as of Dec 13 BTC/USD Signal Today – 18/12: Bitcoin Diverges (Chart)…

FX week in review: Tyson Fury and PSG get CFD broker sponsors, cTrader Store opens, Scope Markets hires

FX week in review: Tyson Fury and PSG get CFD broker sponsors, cTrader Store opens, Scope Markets hires

Có thể bạn quan tâm FX week in review: Tyson Fury and PSG get CFD broker sponsors, cTrader Store opens, Scope Markets hires USD/JPY Outlook: Fed Signals…

EUR/USD Weekly Forecast -22/12: Sentiment Dips (Chart)

EUR/USD Weekly Forecast -22/12: Sentiment Dips (Chart)

Có thể bạn quan tâm EUR/USD Signal Today – 16/12: AUD/USD Breakdown (Chart) India’s forex reserves fall to $652.87 billion, down $1.98 billion as of Dec 13…

Weekly Pairs in Focus - December 22 (Charts)

Weekly Pairs in Focus – December 22 (Charts)

Có thể bạn quan tâm Canada’s Minority Government on the Brink of Collapse BTC/USD Signal Today – 19/12: Bitcoin Forms Doji (Chart) USD/JPY Rises to a Nearly…

Leave a Reply

Your email address will not be published. Required fields are marked *