CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
About Our Global Companies
Valutrades_LogoSpot
Valutrades_SYLogoSpot

Company

Valutrades Limited - a company incorporated in England with company number 07939901. View more information here.
Valutrades (Seychelles) Limited - a company incorporated in the Seychelles with company number 8423648-1.

Regulation

Regulated by the FCA (Fincancial Conduct Authority). Financial Services Register Number 586541.
Regulated by the FSA (Financial Services Authority). Regulatory Number SD028.

Max Leverage

30:1 (or up to 500:1 for Professional clients, click here to find out more about professional client status)
Up to 500:1

Country

United Kingdom
Seychelles

Negative Balance Protection

Yes
Yes

Back to Blog

GBP Higher: New Prime Minister. NatGas Falling Wedge. Gold: History Repeating Itself?

   

Hey Valutraders! Did you see the jump in the Pound today?

Subscribe to Free Valutrades Signals at https://www.valutrades.com/en/trading-signals

I’m Brad Alexander and in this week’s Market Blast Technicals let’s take a look at EURUSD, Gold (XAUUSD), Natural Gas (NatGas), GBPUSD, and GBPJPY.


Today’s price action on GBP pairs is a classic case where fundamental events drive price action to technical levels.Screenshot 2022-09-06 at 11.22.36

For example, on GBPJPY, the news that the UK has appointed a new Prime Minister has helped the Pound fill yesterday’s gap and has pushed price action to a key level of resistance.

We also see the Stochastic Oscillator looking very overbought.

Also, we will be monitoring the formation of this Ascending Triangle.

We all know how strong the USD is and we don’t see that changing right away.Screenshot 2022-09-06 at 11.22.47

So the fact that the news has driven price action into this upper trend line on GBPUSD, also after filling yesterday’s gap.

The Stochastic Oscillator is also very overbought and we see the downtrend continuing.Screenshot 2022-09-06 at 11.22.53

We encourage you to take a look at all the GBP pairs as you will definitely find similar opportunities.

The fundamentals of Natural Gas are obvious with an impending energy crisis in Europe with uncertainty about Russian supply.Screenshot 2022-09-06 at 11.23.03

The technicals see a Falling Wedge which is generally a bullish formation so we will keep an eye on this.Screenshot 2022-09-06 at 11.23.12

Yesterday, we looked at price action on Gold falling to a key level of support and it reminded us of that famous Double Bottom from over a year ago.

We will monitor this to see if history repeats itself.

As we know EURUSD is floundering but it managed to fill yesterday’s gap.

However, the Stochastic Oscillator is overbought so we may see the pair below par for a while.Screenshot 2022-09-06 at 11.23.28

But, don’t forget about Thursday’s ECB Interest Rate Decision and watch this Falling Wedge.

Thanks for watching and don’t forget to subscribe to Valutrades Signals and the link will be in this video’s description below.

Also, subscribe to our YouTube channel and register on the Valutrades website to get notifications on new content as it happens.

That’s all for now. Happy trading with Valutrades and we will see you next time.

CFDs and FX are leveraged products and your capital may be at risk.6 September 2022 Technicals EN TN

 

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

Comments