Daily Perspective – 02/01/2019

Happy New Year to you. I hope you are gearing and readying yourself to a great trading year. One way you can do that is follow us on our social media channels and subscribe to our newsletter because we intend to be here each day making sense of the markets and the mind of successful traders.

Let’s dig in to what we are seeing today.

The major event to watch is the result of the US house, the Democrats take over today and we are seeing them passing bills for government reopening, problem is, Will they pass the republican controlled senate that vows not to pass bills that the president will not sign?

This is how think things will play out.

EURUSD

If bulls continue to dominate we are seeing prices at R100 the bears on the other hand can push prices to S200

GBPUSD

GBPUSD daily perspective
If you followed our perspective on Monday, we were spot on on this, a continued bullish dominance will a test of resistance level R200.

Opening of the US government could see bears push prices down to support levels below S138

USDJPY

The Yen has continued on its strengthening paths and where we are at there is no sign for its slow down except a sudden clarity in the US which could see prices shoot to Resistance levels R100-R200. If that doesn’t happen we may see prices go further below to Support levels S200

USDCAD

The CAD has continued to weaken. The charts show bulls are still reigning and could push prices past resistance levels of R100.

We are on the other hand expecting a correction and still see prices Past Support level S100

GBPJPY

The Japanese Yen strength is dominating this pair. We are seeing prices drop below S78 but also mindful that it could jump to R138 and above.

These are the levels we are using to guide our trading and I hope our perspective will help you form yours. Let us know in our different channels of communication.

HAPPY NEW YEAR.

Leave a Comment

Are you SICK of loosing money and your mind trading?

Join traders like you and receive exclusive actionable trade ideas and resources that will help you extract money every day from the markets.