A Trend is Underway

A Trend is Underway

A Trend is Underway

GBPUSD – This Forex pair seems good to follow according to the newly starting up trend. The retracement gave a good buy sign and the pair might find itself back at 1.2775 and even higher later on this week and next week at around 1.2870/1.2900 which wouldn't be a surprise. 

BRENT – Brent at this daily chart is showing a nice retracement for an up move. Following the trend is definitely not a bad idea in this case. Support levels to get in around the 53USD mark and you might want to hold on to it until it reaches the targets of 55USD and even further towards the 60USD mark. This chart is a daily chart so it might take a few waves and thus several days before we get to 60USD. 

 

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***Information contained in this news letter are gathered from third parties and should not be regarded in any way as trade advice or recommendations by CM Trading. CM Trading does not recommend or advise traders or investors in their decision making, but merely provides information from the market for its clients as additional information being made available as per the events occurring in the financial markets.

 

HIGH RISK WARNING:

Trading Foreign Exchange (Forex) and Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.

 

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