Pound was among the top performers of the day as UK Parliament holds a series of indicative votes. Today UK Prime Minister Theresa May offered to quit as PM if her Brexit deal passes. The pair holds a bullish tone that could be confirmed if it manages to consolidate on top of 1.350 #brexit #gbpusd
If enough speculators are speculating on the price of Bitcoin, then we can see some beautiful Elliot waves as we do in purely financial markets (like the stock market.) Bitcoin is a currency, so it has economic aspects and thus, at times, may not fluctuate according to the wave principle.
As we have seen, Bitcoin has already produced some lovely waves due to the...
Like the tile says I am looking for $BTC to be range bound to short over the next ten to twenty weeks. $BTC was trapped in this very location back in 2017 where it spent nine weeks and traded from early August to the middle of October before it broke out of its range. $BTC is still holding under the 200 Exponential Moving Average (EMA) where it broke under back...
Italy has until Tuesday to submit a revised budget draft to the EU.
Italy-German yield spread looks set to rise in the EUR-negative manner as Italy is unlikely to revise lower its expansive budget deficit target.
The EUR/USD is trading near 1.1325 after taking an early-Monday plunge into near-term lows as the broader market opens the new trading week with risk...
The Japanese Yen finished right in the middle of the pack, gaining and losing ground against three currencies each. Despite stagnating last week, the Yen remains the best performing currency in October, and remains poised for further outperformance ahead.
So far, through October, CAD/JPY is the worst performing pair, down by -2.49%, followed by AUD/JPY (-2.45%)...
Good morning Traders!!
Wednesday is expected BoC Interest Rate Decision, and from our point of view we expect a rise in interest rates, and if that happens, from a technical perspective, the pair might fall or develop a fast and deep pullback (speculative) and then back on bullish side, we'll see... but whatever happens, it will certainly lead to increased...
With the US30USD price sitting at a strong horizontal and upwards trend-line support - the market technical analysis here points at upwards movement (Strong pin-bar bounce from support line).
Although our market analysis points towards a potential move up, you should only enter a position if you see a strong break-out above the 25,500 level.
The DJIA could...
NZD has had a very strong start to the day and will most likely push for the next couple of hours before the US season. Our trade gives us about 15 to 20 pips.
Entry is at 0.64842
- Head and Shoulders Pattern completed
- Price retested neckline and broke through
- Could be due to price being oversold ?
- Price might not follow pattern as US economy is currently doing good ?
- If price retests again then trade would be safer to enter
A couple things to keep in mind when trading precious metals:
We have seen a great rally in the US Dollar, causing EM to take a big hit as a result.
Strengthening USD = bad. There's plenty of cross-border USD debt - 38% of GDP. If you get plenty of USD and earn in domestic you have a real problem. Countries buy precious metals to counter act the inflation. jpy...
Fundementally, there is an increased confidence in the USD and CAD after sealing the NAFTA 2.0 deal. On the other side for the JPY things are not as good. The typhoon Tarmi has caused a lot of damage all over Japan, reducing the JPY stength. Also the CCI report (although low impact) has reported the index to be 7 points below 50. Meaning that the JPY is getting...
Yesterday USD had an increase in the interest rate from 2.00 to 2.25 giving strength to the USD. AUD doing poorly today and we can expect a drop to the nearest zone at around 0.71880. This is around 30 pips. A good meal!
BA has been bouncing around in this area for a while now after a really strong bull run over the last few years. As a big competitor in the airline business its no wonder it keeps its value even in tough times. The reason I believe this to still be a cheap stock and looking to see BA go further 1, 2, 3 years down the line is taking into consideration the space...
I am sincerly sorry for not posting the past few weeks. I have been working on my trading setup day in and out which is why you havent heard much from me. With that said, I have placed sell limt trades on my oanda live account as my system indicates that GBPCAD is in a downtrend that is experiencing a pullback.GBPCAD
Bullish Flag pattern identified on 4h Chart.
If Cad interest rates remain at 1.5% this will further support the move up. Monitor price action leading up to the event. Adjust your TPs and SLs accordingly.
Turkey and America relations do not seem to be growing much in spite of this crisis. A crisis provoked by Trump as the US senatorial elections approach. The cause of this crisis does not seem to be a question of a pastor detained for acting as an agent for America. The evidence provided to the American state does not seem to please because the truth hurts and does...