Day trading strategies on GBPUSD 10-31-2016 by AzaForex forex broker, the greatness of forex useful trading tips

Top tips and strategies for trading on forex.
The British Pound continues to move chaotically. While investors and traders make their trading decisions in the Forex market, the price of the Briton remains unsolved. But as you know, if the price does not change direction, it is likely to continue the earlier direction of movement. Before the price of the currency pair in relation to the US dollar was in a bearish trend. Several times it was saved by the touch to the level of support, but it can not last long. The appetites of traders can change the situation, because market paticipants will not stay without deals. It is necessary to have permanent changes in prices rather than calm in order to make some money at Forex. So, if the currency pair or share or commodity futures will stay for a long time in static, the storm that comes in return, can be very strong. Britain's economy has not shown any important advances that would change the situation on the currency market. Therefore, we continue to go with the flow, and it is now directed downward.

The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.

If the support level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Sell
•    The level of entry into short position: 1.2080
•    The level of profit and close the position: 1.1900 (180 pips)


Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 105.50

Forex currency pair EURUSD 
Possible bearish movement in the breakdown of the support level 1.0990

GOLD
Possible bullish movement in the breakout of the resistance level 1270
 
Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9850