As expected, the bullish flag(chart on the link on related ideas), focus on the bullish flag) is going to make its dealing. This is of course due to the UK General Election of the Conservative party winning the majority seats, which I've mentioned in my previous analysis. Congrats to those who have engaged the trade. At this moment, I'm waiting for a retracement...
Look at how the market respected the supply zone and slide down. The trade wasn't entered due to the UK General Election, I will be waiting for a retracement or retest of the high to engage the market.
for me and my technical analysis, it's probably that AUDJPY go UP
Crude oil is pushing back to its highest levels since September's drone attacks in Saudi Arabia. Energy stocks are following. The sector's the worst performer by far on a year-to-date basis. But in the last two weeks, the SPDR Energy Fund is leading all the other major SPDR tracking funds. Chevron is the second-biggest company in XLE behind Exxon Mobil ....
Elections in the UK, ECB decision and potential approach the finish line in the first phase of negotiations between the US and China. We will take these matters up one by one. In Britain, parliamentary elections were held. The conservatives, led by current Prime Minister Boris Johnson, confidently won. This victory quite radically changes the political alignment...
A decent move could be cooking on EURGBP for upside, price action seems to have formed a contraction and with RSI at the over-sold area for a few days now we could see a move up to the 50 or 61% of the contraction. There is a bigger than normal risk trading this asset (the GBP mainly) because of the upcoming important vote on Wednesday... of-course that could...
All the necessary details about the short are in the image itself. We used our 5 step analysis process to locate this trade, 1. Locate a pattern, in this case a contraction of price which indicates that selling might occur. 2. We then located the general trend, its bullish and usually before major events a basic strategy we employ is buy the rumor sell the...
I published an analysis on EURCAD yesterday, projecting an upward move from the Triangle pattern. After I carefully reviewed yesterday price action, I could see that it was a corrective pattern, not impulse. So I re-count the wave from bottom in related with AUDCAD and know that it's forming a double three/triple zigzag corrective pattern. Yesterday invalidation...
After the UK election, we observed a strong upward movement in GBPUSD, yet the movement cannot be permanent above 1.3500 and also, we may observe retreats due to the profit realizations in the parity. In this context, current selling pressure may last until the parity reaches 1.3376, on the condition that the price stays below 1.3506.
Price, time, and patience is the way to gain clarity in the market. Gold whipsawing price action has caused me to establish an alternative "bearish" bias, especially the last Friday sell-off. However, the current price action and movement during this week are showing a new pattern and increasing my confidence for the bulls! Price is making a 1-2, (i)-(ii) pattern...
The British Pound surged by 420 basis points against the US Dollar during the early hours of Friday's trading session. The UK general election played an important role in the overall movement of the currency pair. Boris Johnson won the UK Parliamentary election and most likely, Brexit will happen by 2020. By and large, the GBP/USD currency exchange rate might make...
The British pound exhibits a broadening formation (also known as a megaphone) against the euro. This pattern is rare, comes at the end of a significant rise or fall and denotes increasing volatility, i.e. indecision amongst traders. It is often associated with elevated systematic effects such political or economic risk. It can be both a reversal or...
Citi has not shut up about their GBP bullish picks for the end of the year. And they might be on to something this time. This could be the trade of the year. Brexit will be a better deal than expected. Trump will exploit the window of vulnerability to push headlines for a new 'bilateral' or nafta plus option. The rumor alone will be good and it really isn't on...
How many trapped bulls? Enjoy your -10% rates. Thanks, but not thanks. Near socialist Denmark has started playing with negative interest rates. Going great! Make sure you aren't long their currency if you do not want to face the coming tsunami by the way. For the next months, trade the pound as consolidation long term, and short term trends are...
Context: The GBPCAD dropped more than 10% from May 2019 till August 2019. The pair then recovered almost all its losses, just over 9% from September 2019 to 1st week in December 2019. Price: The price is now at an historic monthly resistance level and is also struggling to totally break free out of the uptrend resistance trend line which started from a high...
Simple bullish flag formation. 50% fib level acting as support. With the expectation of a Boris Election victory, we should see a nice bullish rally incoming. Buy Order @ 2.03350 Stop Loss: 2.02250 Take profit: 2.19100