Good afternoon Traders, As we come to the last Full Trading week of January we will re-visit some of the Analysis we posted on our weekly Preview.
We hosted our very First Online Trading course which sold out in just 8 Days, We are taking bookings for February and we have also released a date for our First Trading Seminar in Central London, if you would like details on any of these Fantastic Learning Opportunities get in contact with a member of the team.
In the Weekly Preview I did warn about Trading USD pairs as there was so much uncertainty regarding the Dollar Index especially after the Government shut down last weekend due to Funding.
The Dollar looked to be finding some kind of Support around the $90.00 region only to sink and is now Trading around the $88.00 region. Worrying times ahead for the US Dollar.
There was a funding agreement between the Republicans and Democrats which will allow funding until 8th February. Further announcements will be made regarding the Dollar index.
As the images below show we had a clear breakout and I placed predictions of a 1st and 2nd target, at the time of writing this Blog had you of taken this Trade you would have hit Take Profit 2 with a gain of 400 pips.
We could see a further 100 pips to the Upside for this pair before we start to Consilidate.
We have some strong Fundamentals coming out across all pairs next week, we will visit them in more detail on next weeks Preview.
If anybody has any queries then Please do not hesitate to contact a member of the SOFX team