The GBP recovered on Tuesday on rising hopes of a breakthrough in Brexit negotiations. European Union negotiators said on Friday an agreement with Britain was "very close" and European Commission President Jean-Claude Juncker said on Saturday a deal would be reached in November, if not this month. We used GBP/USD dip to open a long position at 1.3050.      

The EUR remains volatile on worries about the tension between the European Union and Italy over that country's budget. The long lower wick on today's candle suggests a recovery is due. We remain long.

This is how we trade now:

EUR/USD

Trading strategy: Long

Open: 1.1530

Target: 1.1750

Stop-loss: 1.1430

Recommended size: 1.50 mini lots per $10,000 in your account

Short analysis: RSIs are biased down and the pair holds below the daily cloud as well as a slew of daily moving averages. The long lower wick on today's candle suggests a recovery is due. We remain long.

Subscribe Plan to Read more

MyFXspot.com is an independent macroeconomic consultancy with thousands of subscribers all over the world. We provide fundamental research to help our clients make better investing decisions. Our subscribers should expect to get access to:

1Trading ideas (entry, take profit, stop loss)

Precious metals: GOLD, SILVER

Stocks: S&P 500, DAX, SHANGHAI COMPOSITE

Commodities: WTI OIL

Forex: EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD

2Investment Clock - great quantitative tool for investors

Different asset classes sectors tend to perform better than others at different phases of the economic cycle. We estimate current phase of the economic cycle and the Investment Clock shows which asset classes have historically outperformed in current phase of the economic cycle according to our research.

3Essential market news, technical and fundamental analysis, reviews of central bank decisions

We provide you regular commentaries on important economic and market issues and events, previews and forecasts of forthcoming data releases resulting from our knowledge, experience and quantitative tools.

4Last but not least

We describe fundamental factors, discuss recent changes in trends, resort to numerous quantitative tools and much more. You are able to take a close look at how we come to our conclusions and decide whether you share our current opinion regarding the market, but at the end of the day, it is you who decides what to do with your capital. That is why we strongly recommend you to conduct your own research and always rely on common sense – nobody knows what might work out for you just as you do.

Monthly

Subscription

$49.90

 
First week FREE
You can cancel at any time
CONTINUE

Quarterly

Subscription

$119.70

per month: $39.90
First week FREE
You can cancel at any time
CONTINUE

Annual

Subscription

$238.80

per month: $19.90
First week FREE
You can cancel at any time
CONTINUE

VAT tax will be added for EU individuals.

Cron Job Starts