Trading Plan 10/31/2018

Trading Plan 10/31/2018

The overall picture: We are waiting for reports on the United States.

Political news has little effect on the market. The news about the departure of Merkel from the post of party leader did not bother the market. Approaching elections to the US Congress (midterm elections) also slightly affects prices.

It is likely that the market is looking at the approach of the Fed meeting on November 7 and analyzes the news from this point of view.

In the next three days, there will be important reports on the US. Today, report on the ADP employment will be published. On Friday, nonfarm. On Thursday, ISM index.

The main question is whether the dollar rate will be raised on November 7?

Pound: our selling position from 1.2920 has fully worked out. A profit of about 200 points in a 4-digit right now. You can fix. New level down the pound yet. Upwards, there is no correct level closer than 1.3260.

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The material has been provided by InstaForex Company - www.instaforex.com