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Weekly analysisFor the period between october24th – 30th, 2016


 Previous week:

WELL DONE; previous week our trade gained 150 pips and still waiting for more 200pips. Also we had seen a major event, the ECB rate decision. ECB decision itself was not such a surprise but the report accompanying the decision contains some remarkable notes to take into account.
First he stated that we should expect lower interest rates to remain at present or lower levels for an extended period of time, secondly the confirm that the monthly asset purchases of €80 billion are intended to run until the end of March 2017. May be the phrase that agitates the markets when he said that 2017 is expected to be NUTRAL, and The risks to the euro area growth outlook remain tilted to the downside and relate mainly to the external environment. Last, while there are no signs yet of a convincing upward trend in underlying inflation.

Next week:

We have AUD CPI, JPY CPI and unemployment rate, but the most important event for us on Thursday will be UK GDP. We expect better or the same previous GDP, which anyway will help us on our trades.
As every follower knows that our policy is SAFETY, last week we recommend that the EUR/GBP should be closed by the end of the week due to the small retracement that may occur on Monday this week. It you wanna be so careful wait until the GdP release and that is what we recommend. Otherwise look after our new trade.

What will be our trade next week?

EUR/GBP: I have gained 150pips revious week and now I am going on to continue the 350 pips with TP: 0.8650  and   SL:0.9150.
New trade: EUR/JPY: TP:106.20 & SL: 121.70

Good luck for all and happy trading 
For your comments: info@marketstitan.com
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