A Good Start Of the New Month

Posted Saturday, October 8, 2016 by
Skerdian Meta • 1 min read

Here we are at the end of the week, on a nice Saturday morning enjoying a cup of tea while looking at the weekly results. It has been a smooth ride for us this week until Friday when the forex market went through a period of turmoil, particularly the GBP pairs.

Thin liquidity on an early Friday morning and negative market sentiment combined together delivered a nasty blow to the GBP which dived several hundreds of pips. We had a couple of losing forex signals on Friday morning but got back on our feet and recuperated during the afternoon, closing the week with a hefty profit. It´s good we stuck to GBP short positions, because they contributed for nearly half of our weekly profit. 

There are a few potentially risky events over the weekend which might make forex pairs open with gaps lower of higher. Some of these events are the IMF (International Monetary Fund) meeting, the Hurricane Mathew in the US and the Chinese economic data.

Of course, the market sentiment towards the GBP is something to take into consideration this weekend. The sentiment is extremely negative, so we could see huge gaps in GBP pairs only on a comment from UK or EU officials, so don´t be surprised if you have an open position and you find your forex account with a massive profit or massive loss on Monday morning. Anyway, have a nice rest guy and see you next week. 

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