The UK Election and Forex movements
It would seem obvious that uncertainty in the leadup to the UK’s snap general election would create opportunities to go long or short on the British pound. But according to our team of traders, it seems like Sterling is “…waiting for something. Whether that’s news from the election, new trade agreements or Brexit, only time will tell.”
So, if the pound doesn’t currently look like a good Forex to trade, what other trends have the Learn to Trade team identified?
Recent news and Forex market movements
Gold took a tumble last week after President Trump’s announcement that the US would withdraw from the Paris climate accord.
But on the flipside of this, the European Indices rallied, as France, Germany and Italy issued a joint statement reiterating their commitment to the climate change deal.
Gone short on AUD?
Those traders who went short on the Aussie dollar should be feeling fairly happy with themselves, as the AUD has been weak across the board as of late. But traders should watch out for several reports being released in the first week of June, which are forecast to be good for the currency.
Indices across the board
One of the trends our team have been watching for a while is the reasonably consistent rise in Indices. The FTSE 100, the Nikkei 225, the DAX, the NASDAQ, etc., have seen steady growth in the last few years, meaning long trades have been paying off for those who made them.
The current forecasts show this trend to continue, but the markets are a fickle thing – There’s no such thing as a safe trade. And identifying trends takes time and experience.
Taking an FX trading course
The best way to learn how to identify opportunities is by learning from experienced traders. Our team at Learn to Trade are among some of the most experienced in the industry, with proven track records of seeing where the market has been and predicting where it’ll go.
If you want to know more about Forex trading and how Learn to Trade can help you enter the world of Forex trading, sign up for one of our free seminars. They’re held across the UK, and could be your path to financial freedom.
Click here to find a free Forex seminar near you.