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1. The way is invisible, and the sea of learning is endless. This is my consistent investment philosophy. I think that when I was doing futures, I was able to survive in this market at the beginning. I think "patience" is the most important thing. 2. I personally understand that how to cultivate oneself and seek is the basic quality that an investment master should have. For all stop-loss orders, if they are not balanced, there is a 98% probability that losses will turn into profits in the next two weeks. For all stop-profit orders, if they are not balanced, there is a 91% probability that greater profits will be achieved in the next two weeks. 3. First, it is wrong for ordinary people to enter this market. Second, frequent trading basically sentences you to death, unless you are a genius high-frequency trader. Third, dont expect that you can win in short-term trading of selling high and buying low, and dont rely on intuition to speculate in futures. Fear is the most direct cause of loss. Fourth, if you want to make a profit, you can wait patiently for the opportunity, throw it in, dont stop profit and stop loss, hold it for a long time, let the profit run or burst. 4. The core of high-frequency trading is not to predict, respond to market changes at the first time, and use the instantaneous inertia of the market in seconds to make profits, so I personally think that long-term prediction ability and instant response ability are the core abilities of investment. 5. To make good investments, you should first have a strong interest in investing and be able to work very hard. Second, you should have lofty ideals to provide energy for endless efforts. Third, follow the path of life and be kind-hearted to get help from heaven and masters. 6. I set two risk control lines for any investment. In the past four years, the maximum drawdown has never exceeded 40%, while many masters in the market often draw down to more than 50%.A UBS (UBS.N) spokesman said that less than 50 jobs will be cut in France during the restructuring, and France remains a strategic growth market.Market news: German lawmakers will vote again on Tuesday to decide whether Merz will be elected chancellor.Indian officials say trade talks with the United States are going very well.S&P 500 futures and Nasdaq 100 futures extended losses, hitting session lows.

Prior to the release of UK GDP and US PCE Inflation figures, the GBP/USD has found a temporary resting place near 1.1200

Daniel Rogers

Sep 30, 2022 10:53

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Price action for GBP/USD on Friday's Asian session has seen it range between 1.1160 to 1.1555 as buyers prepare for the first weekly advance in three weeks. As a result, the cable pair is benefiting from the general weakness of the US dollar and the ambiguous outlook on the US dollar before to the release of important data from the UK and the US.

 

In a recent interview, UK Trade Secretary Kemi Badenoch said that the chancellor and the Bank of England are "working well" together.

 

As a result, the GBP/USD exchange rate is supported by expectations of a robust rate hike cycle from the Bank of England, or "Old Lady."

 

As a counterpoint, the US Dollar Index (DXY) has remained in the red at around 111.90, snapping a two-week uptrend. By this metric, the Fed's recent strong rhetoric and the widespread recession fears in the face of lowering inflation expectations are not justified by the dollar's performance against the six major currencies. Important for dollar traders today is the August Core PCE Price Index, which is expected to be 4.7% YoY, the same as the previous reading.

 

Final readings of the UK's Gross Domestic Product (GDP) for the second quarter (Q2) are expected to corroborate initial forecasts of -0.1%, making them important to track.

 

If incoming data verifies the projections, the GBP/USD could pare recent gains, which would be appropriate given the optimistic inflation estimates and fears of a UK economic downturn.

 

A significant break above a two-week-old resistance line, now support around 1.1035, is needed to keep GBP/USD investors upbeat, as is a move above the 100-day exponential moving average (EMA) surrounding the 1.1200 level. When the RSI reaches the overbought area, it usually means that further gains will be capped.