Last Friday was really good for trading on all timeframes, especially our short-term reversal trading. You can view the results and trade setups HERE on Facebook. As at this time of writing, the market looks similar too, with good range-bound oscillations. View my screenshots below for details. The EURUSD is rebounding from a 2 week low, and approaching the 100-day moving average. The GBPUSD came off last week’s high and was inside the 100 day moving average earlier today, but after the London session is strongly resuming its gains. The USDJPY is forming a Doji on the Daily chart at the Monthly High. The USDCAD, notably, gapped 28 pips down and is continuing to extend the downward trend, beneath of the 200-day moving average. The key events this week will be the US Federal interest rate decision, and the Bank of England interest rate decision. If the US interest rate drops USDCAD will definitely extend down, and we might see more “stair-cased” price action. An increased GBP interest rate could see the GBP into recovery, while if it decreases, it will continue to drop. If both interest rates remain the same, it will more or less be “Business as Usual” and I look forward to generally a better this week, than last week – for short term reversals.
Check out these screenshots to see what I’m talking about.
GBPUSD on the H1 Chart
GBPUSD on the D1 Chart
USDJPY – Daily Chart
USDCAD – Daily Chart
Seeing that on many pairs are showing even-length swings, compared to past weeks short pull-backs, the market looks good for both the Binary Lab reversal method. At the same time, when the market breaks out of ranges, the trends run on for several bars in the same direction, making it good for the trend riding method.
UPDATED: Trading Schedule
Here is this week’s trading schedule. All times in Eastern Standard Time (EST) which is GMT-5. Please note there’s no session on Monday, or any Europe sessions this week as I’m taking my family on vacation.
- Monday – No session. I’m travelling.
- Tuesday – 8am, 630pm
- Wednesday – 8am, 630pm
- Thursday – 8pm
Note the slight difference from usual timing as we’ll be doing more of Asian session due to timezone differences this week (I’ll be in GMT+9).
Also, I’ll be introducing a new webinar platform this week to accommodate more people per webinar, with the same real-time high-quality web stream, or better. Our recent system supports up to 200 attendees which was getting maxed out. Our new one will accommodate up to 500 per webinar.
Trade safely and profitably,
P.s. Check out my “Brokers” on this site for regulated and Asic regulated binary option brokers.