New robot Breakout – trading on the breakout of the daily level

2021-06-14

The new robot starts working when the price breaks the extremum of the previous trading day. Usually, there are strong levels at the extremes. Therefore, when the price breaks them, it rushes further and travels a considerable distance. The robot uses this movement to make a profit. To fully exploit this movement, the trade is accompanied by an adaptive trailing. A number of protections and locks are provided for reliable operation in real accounts. Two versions of the robot have been developed – for the MT4 and MT5 terminals. On accounts of the same type, they trade in the same way.

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June 14-18. Fuzzy euro uptrend

2021-06-13

The EURUSD currency pair has been mostly in one place for the last month. This is clearly seen if you look at the D1 timeframe. Of course, there is a slight downward bias, but it is too small and does not even allow us to speak of the current movement as a correction. Over the past three weeks, the price has moved only 150 points away from its local maximums, which, of course, is very, very small. In general, the volatility of recent weeks leaves much to be desired. Last week the first three days were almost motionless.
However, it should be noted that a new global uptrend started quite recently, in April. But the general growth trend has continued for 4 years. Consequently, the global trend is still far from over. Therefore, traders have the right to count on a new strong strengthening of the European currency. And of course, one should not forget about the main fundamental factor that continues to create serious pressure on the American currency – the excessive saturation of the American economy with dollars. Therefore, the dollar is depreciating not only in the international foreign exchange market, but also within its own country.
Not much macroeconomic events are planned for the next week in the European Union. Only reports on industrial production and inflation. Industrial production has not had a significant impact on the mood of traders for a long time. But inflation can affect the movement of the European currency. The report will be published on Thursday. Christine Lagarde may also perform during the week, although no such entries are currently in the calendar of events. However, they may appear within a week. All macroeconomic statistics will be discussed in the article on the GBPUSD pair. Therefore, traders should first of all continue to consider lower timeframes. They are now more useful in terms of profit, as movements are generally weak and there is simply no trend. Therefore, it is best to track changes in the situation on higher timeframes, but at the same time open short-term positions on lower timeframes. There is nothing to single out from the global fundamental themes now. Yes, the world is now actively discussing the topic of raising taxes in the United States for the rich and corporations, the introduction of a single corporate tax throughout the world. Also in the European Union this summer, the 750 billion Euro Recovery Fund should finally begin to be distributed, which may slightly help the European economy to recover faster. However, all these topics will be reflected later in specific macroeconomic indicators. These are not any shocking or crisis topics that can seriously agitate the markets and force them to act in a state of panic or close to it, as, for example, a year ago due to the Covid-19 epidemic. So now these are just interesting economic topics. Therefore, one can continue to count on the resumption of the uptrend, but it must be borne in mind that any fundamental hypothesis requires specific technical confirmations and signals.

June 7-11, 2021. The British pound is flat, but growth prospects remain

2021-06-06

The GBPUSD currency pair has been flat since May 17. This is clearly seen on the H4 timeframe. The amplitude of the flat is about 170 pt. Therefore, there is no need to talk about long-term trading yet. The pound reached its three-year highs and has been marking time for three weeks in a row. If EURUSD this week showed a movement that can be called at least a pullback, then GBPUSD simply stands still with small fluctuations. However, traders can resume buying it at any time. The fact is that the global fundamental background of the British pound is somewhat better than that of the euro. The pound also has a speculative factor that does not allow it to decline significantly. Therefore, if on EURUSD there are no reasons to expect the end of the fall of the American currency, then on GBPUSD these reasons are even less. Thus, the upward movement will continue in almost any case. Even in spite of the fundamental background, which remains not the best in the UK.

May 31 – June 4, 2021. Summer is coming. Markets are warming up

2021-05-30

The dollar’s pressure on other currencies will ease in the coming week. This is confirmed by the drop in US bond yields last week and the surge in US inflation.

An important stimulus for the growth of the euro rate in the coming week will be the expectation of the strengthening of the international significance of this currency. A report on this on Wednesday will be released by the ECB, where it is expected to increase the share of the euro in world settlements. These results will be commented on by the head of the ECB Christine Lagarde.

However, Friday is saturated with important indicators of the US labor market. Insiders say the numbers will show record low unemployment and a large number of new jobs. This will greatly strengthen the dollar.

Oil traders will face a difficult week full of uncertainty and high volatility of quotations. The OPEC + meeting will approve new production limits, but participants should take into account the return to the Iranian oil market. The country is now under sanctions that could be lifted before the June 18 presidential elections.

May 17-21, 2021. Reaching new highs

2021-05-16

High inflation rates in the United States last week brought down major currencies.
But by the end of the week, the dollar returned to local minimums, and shows a tendency to further decline. Therefore, we can assume that the main currencies will reach new highs in the coming week.

This trend can be disrupted by a preliminary estimate of the PMI and the unemployment rate of developed countries, statistics from China, as well as the rate of the People’s Bank, which is constantly planning to tighten monetary policy.

The incidence of Covid-19 will again attract the attention of investors, this time in developed countries, where more and more restrictions are lifted as the percentage of vaccinations in the population increases. Markets will react negatively to any spike in the coronavirus epidemic.