in Forex / CFD trading is highly likely to depend mostly upon, and not on the exact methods you might use to determine trade entries and exits.
So, when starting the week, it is a good idea to look at the big picture of what is developing in the market as a whole, and how such developments and affected byThere are some strong long-term trends in the market right now, which might be exploited profitably.I wrote in my previous piece on 16Long of the NASDAQ 100 Index. The Index ended the week lower by 0.80%.Long of the GBP/USD currency pair following a daily close above $1.3142 with the close in the top quarter of the day’s range.
Long of CC1! Cocoa Future following a daily close above 3414. This trade set up on Wednesday, but the trade ended the week down by 0.52%.Market sentiment is dominated by a more bearish turn as the previous risk-on rally soured a bit,. The falls in the UK and Canada were stronger than expected, while the fall in New Zealand was weaker than expected.
Markets will start the week focused on the expected 0.25% rate hikes at this week’s policy meetings by the US Federal Reserve and the European Central Bank.Markets are likely to begin this week in the same risk-off conditionChinese GDP and Industrial Production – these both showed an increase, but the GDP data was lower than expected.Reserve Bank of Australia Monetary Policy Meeting Minutes – this was seen as a bit hawkish as the minutes acknowledged that the decision not to hike was very close.
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