Manufacturing PMI

Thinking of buying GBPUSD.

My thoughts:

For today we have a lot of Manufacturing Purchasing Managers Index economic indicators coming out for major economies. Wanting to take the advantage on these news releases for a pair that could be in for a bullish move.

GBPUSD looks oversold and we have a hint of buyers showing interest on this pair. On the 1H charts we are looking for the markets to retrace to the 21 moving average and show us some bullish sentiments.

With regards to fundamentals I would like for the UK Manufacturing PMI to show bullish sentiment and on the other hand we would like the US Manufacturing PMI to show bearish sentiments.


Possible 70Pip move.


Possible entry area 1.26500


Possible target area 1.27300



Short Video on trade:

 

Australia cutting rates tomorrow, big moves in Australian Dollar coming

 

If you look at Aud past few months, even when there is major news, Aud hardly move or perhaps it just move a little.
it was rather tradable a decade ago.

well. it might move tomorrow

 

I don't trade Forex, but it's highly likely Australia will make sure it's dollar drops to boost Export and Foreign Inflow... They will deal with higher inflation through Bond Buying Program short term... They are fucked but currency devaluation seems like the short term rout they will be taking

 

Any thoughts on GBPUSD guys ? it just looks oversold to me.. eventhough strong downtrend.. it has been dropping for a while.. so it could be time to do a bigger retracement.. Trying to catch this retrace up..

 

Why are they ?

 

Haven't forex-ed in over a decade, but there is *way* much non-market factors for both the GBP (Brexit; EU-cuspieness) and the USD (Stable Genius) to take any position longer than a Tweet-snap. It'd be like throwing darts at a butterfly. (IMO.)

 

Yeah u are right, this pair could be volatile.. but I am still stalking this for a buy.. have a hunch that we are going to go long soon..

lol when you say stable genius .. u mean trump ? hehe

 

You are right, GBPUSD started to rise but it hit resistance level at 1.27 which it likely to breakthrough if slight risk-on sentiments will remain in place.

 

Hey Guys, this was a nice trade for over 60pips.. It would be time to close the trade around about now.

Did a short video on the post trade analysis.