We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
Market News Dollar loses ground, pound gains as traders eye Brexit talks (With Trading Strategy)

Dollar loses ground, pound gains as traders eye Brexit talks (With Trading Strategy)

Sentiment across markets was mixed, caught between fears of a resurgence of global coronavirus cases and hopes for a working vaccine that could help reignite global growth.

Eden
2020-11-16
465

外汇封面.jpg


The dollar lost ground against other major currencies on Monday.


At 15:50(GMT+8), the U.S. dollar fell 0.18% to 92.58.


Sentiment across markets was mixed, caught between fears of a resurgence of global coronavirus cases and hopes for a working vaccine that could help reignite global growth.


Undermining the greenback more broadly, the total virus cases in the U.S. surpassed 11 million on Sunday as the pace of the pandemic quickened.


While U.S. President Donald Trump still refused to concede defeat in the Nov.3 election, some traders have begun shifting their attention to contenders for President-elect Joe Biden’s cabinet.


Trump on Sunday briefly acknowledged losing the election in a morning Twitter post but then backtracked, saying he concedes “nothing” and vowing to keep up a court fight that election-law experts say is unlikely to succeed.


Meanwhile, Biden focused on tackling the coronavirus pandemic and set meetings with pharmaceutical companies developing vaccines.


The British pound edged higher against the dollar on Monday.  At 15:50(GMT+8), the GBP/USD rose 0.18% to 1.3213.


Hopes for Brexit compromise emerged after news Dominic Cummings, the most powerful adviser to Prime Minister Boris Johnson would leave Downing Street in mid-December.


Meanwhile, Britain’s top Brexit negotiator David Frost said on Sunday that Britain and the E.U. have made some progress in their post-Brexit trade deal negotiations but might not succeed in getting an agreement.


“This topic remains an uncertain catalyst. The market needs to be cautious that prices could fluctuate nervously on the news,” said Sumino Kamei, senior analyst at MUFG Bank.


The yen edged higher at 104.49 per dollar, having posted its worst weekly performance since early June last week.


At 15:50(GMT+8), the JPY/USD fell  0.17% to 104.47.


“Over the weekend, uncertainty around the U.S. presidential election has declined as it became more certain that Joe Biden secured more votes, and it’s easier for traders to take risks on hopes that the next administration would soon take measures against the coronavirus,” Mizuho Securities’ Yamamoto said.


The dollar could strengthen against the yen if U.S. bonds and stocks maintain their upward moment, he added.


Data on Monday showed signs of economic recovery in China and Japan, the world’s second and third largest economies. China’s industrial output rose by a faster-than-expected 6.9% in October, while Japan’s economy grew at its fastest pace on record in the third quarter.


The Chinese yuan firmed following the upbeat economic data, rising to 6.5818 per dollar, hitting its one-week high.


Trading Strategy (source: Trading Central)

Pivot: 1.3190


Our preference: long positions above 1.3190 with targets at 1.3245 & 1.3275 in extension.


Alternative scenario: below 1.3190 look for further downside with 1.3170 & 1.3150 as targets.


Comment: the RSI shows upside momentum.


Supports and resistances:

1.3310

1.3275

1.3245

1.3220 Last

1.3190

1.3170

1.3150


Pivot: 104.80


Our preference: short positions below 104.80 with targets at 104.40 & 104.20 in extension.


Alternative scenario: above 104.80 look for further upside with 105.10 & 105.35 as targets.


Comment: the RSI is mixed to bearish.


Supports and resistances:

105.35

105.10

104.80

104.57 Last

104.40

104.20

104.00

Guideline for Trading Central strategy 


Trend chart reading guideline


1. First look at the time period in the upper left corner of the chart: ·30MIN and 1H chart shows the trading suggestions for intraday ·Daily chart shows the market trend analysis in next 2-3 days


2. The blue horizontal line on the chart marks the pivot: pivot indicates the reversal of the market. When the price is above the pivot, it indicates an upward trend, when the price is below the pivot , it indicates a downward trend. When the price breaks through the pivot, the trend is reversed.


3. The red and blue thin curves in the Candlestick chart chart are technical indicators: Red line is MA20+Bollinger bands, Blue line is MA50. under the Candlestick chart chart are also the technical indicators: Blue line is RSI, Red line is 9MA;


4. The green horizontal line is the resistance level for a price increase, and is also the profit target for long orders; the red horizontal line is the support level for a price decrease, and is also the profit target for short orders.


How to use TC strategy?


1.[Pivot] is the reversal line of the market trend. When the price up the pivot line which means in Bullish, you can open a long position or Buy. on the contrary, when the price under pivot line which means in bearish. You ‘d better make short positions or Sell. 


2. [our preference] is the main trading suggestion for your reference. You can exit your trading refer to this target or close positions before it.


3. [Alternative scenario] is the plan B for your reference. 


4. [Comment] is the technical analysis of market trends and technical support for trading strategies. 


5. [Supports and resistance] Supports are levels where the price tend to find support as it falls.

Resistances are levels where the price tend to find resistance as it rises. So, exit before the trend reverse.


Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free