Sorry, you need to enable JavaScript to visit this website.

GBP/USD trading - US wholesale inventories - 09 May 2017

You are here

GBP/USD trading chart 9 May 2017
5/5 of 4 ratings

On Monday, the Cable lost about 40 points

Monthly Halifax house price index fell from 0.0% to 0.1% against the expectations of 0.2%. In the US, the Fed labor market conditions index fell from 3.6 to 3.5.

Today, macroeconomic data may not be expressive and will not support the counter dollar currencies

In the US, no significant news is expected. In April the NFIB Small Business Optimism may fall from 104.7 to 104.0. The March wholesale inventories are expected to be unchanged, -0.1%. In the evening, the head of the Federal Reserve Bank of Dallas Robert Kaplan will have speech. The world media doesn’t inform us of other interesting economic and political news after the elections in France.

How we trade binary?

We would buy Call binary options with 20:00 GMT expiry if a one hour candle closes above the 1.2972 level. If our first target is not reached and the price goes below 1.2910, the first scenario would be invalidated. We would buy Put options if a one hour candle closes below the 1.2910 level.

Asset: GBP/USD
Direction: Call
Target price: 1.2972
Expiry time: 20:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

You may also read