One week in trading can be an eternity

“If one minute in trading can be a long time, then one week in trading can be an eternity.”

Hi, It’s looking like being an interesting week with either a shift of the overall trend or a resumption of the existing overall trend. As always, it’s important to be continually analysing the market throughout the week and not base your trading decisions on just a weekly analysis…

For example, the GBPUSD continued an upward rally that we predicted two weeks ago, but only after a correction to the downside early last week. The pair then went on to hit our Target 2 for 183 pips. Congratulations to traders that took this trade setup!

usflag-stockmarket-bplus

On Friday, NFP (Non Farm Payroll) came out with a 151,000 headline for the number of jobs created in August, less than the 180K expected, however the unemployment rate came out at 4.9%, the same rate as the previous month, and average hourly earnings were up a touch by 0.1%, so the overall jobs report provided data for a consensus of market authorities that the US economy
is doing quite well with consistently steady monthly employment growth since early 2010.

Overall, the US is regaining its status as the world’s most powerful currency, even if only by default because the rest of the world’s economies are facing much bigger challenges to keep their economies growing… What does this mean to traders?

Well, we’re currently continuing our bullish view of the US dollar against weaker currencies, and we’re still long on most Yen crosses.

Start taking advantage of our signals and indicators by trialing our service for 60 days so you can benefit from the moves that drive the markets. Good trading & we’ll see you soon!

The Traders Elite Team

To be prepared for these opportunities as well as other pip-making moves this week, register to get our actionable alerts, notifications and indicators here – http://www.traderselite.com/special

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