Did you know that The Forex or FX Market derives its name from Foreign Exchange. It is essentially the exchange of currency (money) between two different countries. The FX market is the largest financial market in the world, and is open 24 hours per day, 5 days per week. BlackStone Futures provide a User Friendly trading environment in YOUR journey to Profitability on:
- Forex
- Global Equities
- Commodities
- Stock Indices
Click: Join Our Facebook Trading Community!
In the Zone
- GBPJPY
- US30
- DE30
- Brent
Click HERE for Detailed Levels
Today's News Headlines
- The deficits in the US widened again but the Congressional leaders believe that they have a plan to avoid a government shutdown.
Market Recap
Trade concerns continue to dominate the market, the dollar was already on the back foot during the London session, but it lost further ground when Trump and the White House confirmed yesterday that additional tariffs on China were forthcoming. There was also no formal NAFTA meetings, although Canada have been out with some fighting talk of late – stating that there is no deadline for talks and that dairy farmers would be protected. I mentioned yesterday that I suspect my call Trumps bluff, it will be interesting to see the final product – if indeed there is one.
The GBPUSD did trade higher yesterday, but it also stalled at the 100 day MA of 1.3175, the new trading day will again focus these levels and I suspect that this will be the line in the sand today. A move above this level will be bullish for this pair while the bears will take control if resistance is respected again.
As mentioned yesterday, I am looking at the JPY pairs for trading opportunities. There is a cluster of support levels at 111.70 and that is where the move has stalled, a break below is a little more bearish, the sellers will have to get through the dip buyers first though for this pair to really find some momentum.
Important Economic Data Due Today
09:15 EUR ECB President Draghi Speaks
Consensus: None
Effect: More hawkish than expected is good for the EUR
[su_divider]
Read Our Most Popular Articles Below, It's Worth It!
