Breaking news – 10:30 (GMT+1)

The unemployment rate in the EU have reached to a low of seven-year

The Euro zone unemployment rate in April remained at 10.2%, according to forecasts.
However, the unemployment rate of the European Union’s fell to 8.7%, a record low of 7 years.

In May, the German unemployment rate reached a low of 6.1%, it’s lowest unemployment rate since 1990, the year then West Germany merged with East Germany.


Trading opportunity 10:00 (GMT+1)


On a daily chart the pair arrived to a strong resistance, around the level of 164.00.
At today’s high, the pair touched the level of 163.87.

gbp.jpy d 30.5.16

On 4 hours chart there is a bearish divergence at the indicators of MACD and RSI, compared to the last move of the pair.
Also, we got a bearish engulfing pattern.

gbp.jpy 4h 30.5.16

For Forex traders:
Sell between the levels of : 162.75 – 162.00.
Stop loss point : 164.05
Take profit point : 157.15

For Binary options traders:
A put option between the levels of : 162.75 – 162.00.
Expiry time : June 10.

Market News Briefing – 08:30 (GMT+1)

Wall Street earnings season – the worst since the global crisis

The season financial statements for the first quarter came to a close on Wall Street and major US corporate profits have fallen sharply since the global financial crisis.

The earnings per share of 98.4% of the companies in the S&P 500 who have already published their statements regarding the first quarter, fell by 7% over the same period a year earlier, the sharpest fall since the third quarter of 2009.

The energy sector suffered from the fall in oil prices, with a decline 108% in the quarter.
Many energy companies posted heavy losses in the quarter, and a number of companies reached insolvency and bankruptcy.

Weakness was also recorded at the revenue of S&P 500, which shrank by 1.7% in the quarter – the fifth consecutive quarter of decline in revenues over the first quarter.

Trading opportunity 09:30 (GMT+1)


On a daily chart we can see that yesterday the pair broke above a diagonal resistance line.

gbp.usd d 26.5.16

What we are waiting for?

There is a resistance around the level of 1.4700, we want to see a technical correction which will test this area of the break.
If the area will be strong enough to support the pair after the correction, then we will be looking to see a divergence at the indicators of MACD and RSI, together with a bullish pattern.
When all these elements will appear ,we will be able to place the entry and exit levels of the trade.