GBPUSD ( Bullish Speculation )
Happy Halloween everyone!
I called out a bullish movement for GU about week ago and it played out beautifully.
As we can see it didn't continue upwards as high as I thought, and it seems that it's caught in a minor consolidation.
We had some news today for the Dollar,
Employment Cost Index q/q was higher than predicted.
Forecast - ( 1.0% ) Actual ( 1.1% )
Which would be good news for the Dollar... IF we weren't dealing with sticky inflation.
S&P/CS Composite-20 HPI y/y also came in higher than expected
Forecast ( 1.8% ) Actual ( 2.2% )
Housing prices are still rising.
I don't like the idea of the Dollar weakening, but it seems its long overdue.
Of course this is all some speculation and no action will be taken until I see how the market reacts to the news being released this week.
Expecting one big sell before GBP ultimately strengthens.
We make our own luck over here.
May you all have a profitable week!
- Patient Wealth.
I called out a bullish movement for GU about week ago and it played out beautifully.
As we can see it didn't continue upwards as high as I thought, and it seems that it's caught in a minor consolidation.
We had some news today for the Dollar,
Employment Cost Index q/q was higher than predicted.
Forecast - ( 1.0% ) Actual ( 1.1% )
Which would be good news for the Dollar... IF we weren't dealing with sticky inflation.
S&P/CS Composite-20 HPI y/y also came in higher than expected
Forecast ( 1.8% ) Actual ( 2.2% )
Housing prices are still rising.
I don't like the idea of the Dollar weakening, but it seems its long overdue.
Of course this is all some speculation and no action will be taken until I see how the market reacts to the news being released this week.
Expecting one big sell before GBP ultimately strengthens.
We make our own luck over here.
May you all have a profitable week!
- Patient Wealth.
Trade active:
Beautiful play on the market today.
As speculated, we're still receiving strong readings from the economy,
Which would be great if we weren't battling inflation.
Feds want to take it easy on the interest rates hikes for this month, showing some patience to see how the market is reacting, before considering another 25 - 50 points.
I'm bullish on GU for the upcoming weeks ahead, until further notice.
As speculated, we're still receiving strong readings from the economy,
Which would be great if we weren't battling inflation.
Feds want to take it easy on the interest rates hikes for this month, showing some patience to see how the market is reacting, before considering another 25 - 50 points.
I'm bullish on GU for the upcoming weeks ahead, until further notice.
Trade closed: target reached:
Taking profits here, everything worked out.
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Make sure to follow to keep up with my trades.