According to media reports an oil tanker turned into a fireball after a suspected torpedo attack off the coast of Iran. A second tanker was said to have been targeted by a magnetic mine in a series of explosions. Oil rushed up as we expected. However, we consider this growth an opportunity for sales at a higher price. Considering that this week oil reserves in the...
The Euro currency index has been moving in a series of lower highs and lower lows following the unsuccessful European Union parliamentary elections and also all the clouds surrounding Mrs. T. May. A break above the 112 price level will invalidate this idea.
Short-sellers can target the 110.5 area, which is the bottom of the descending channel, as a potential...
Price formed another corrective structure in the form of a bear flag pattern after sellers struggled to hold ground. Now it has just broken to the downside and we are expecting further down movement. Things are a bit slow this week especially after the bank holidays yesterday. Risk management should be on point always. The technicals of this trade are;
The previous week was tough for financial markets due to the escalation of the trade war between the USA and China, which, moreover, have taken new forms like US attacks on Chinese technology companies.
At the same time, the White House is not planning to stop. The tariff epidemic will spread to other countries, primarily those of them whose currencies are...
The overall trend is LONG. You may catch a 25/30 pip SHORT retracement back to the 50% / 61.8% retracement levels.
1. 14 day downtrend seemed to have ended as price found support around support found around 1.2605.
2. Bullish pinbar formed and closed with a long wick rejecting lower prices.
3. Bullish candle now in...
Last post: June 27th 2018. See chart .
Review: Price appeared to be looking bearish.
Update: Price has not travelled much since the last post and has mainly been in consolidation.
Conclusion: We need to see major support or resistance levels broken before looking for trades here.
Any comments or questions, do not hesitate to leave them below. Give us the...
GBP/NZD has just broken out of the corrective structure to the downside, therefore we expect a further continuation to the downside over the next hours/days. Price formed a bearish flag pattern after a big impulsive move to the downside. The technicals of this trade are as follows:
Take Profit 1: 1.87247
Take Profit 2: 1.82568
"The definition of insanity is...
As i mentioned in my previous post, this pair is correlated to the GBP/USD pair. Prices are also moving in a downtrend, after having breached an ascending trendline. . The price also broke out of a symmetrical triangle to the downside and completed a retest. Price is making a series of lower highs and lower lows. May the bears take over the world!!!
This pair has broken out of the symmetrical triangle to the downside, and has completed a retest. The price is moving below the upward trendline, and making a series of lower highs and lower lows. This pair is correlated to the GBP/CAD and is moving in a similar fashion
I have already entered this trade and so should you.
The British government and the Pound along with them seem to be totally confused on what action to take. The Pound has been in a flat and the British parliament has also been undecided on what direction they plan to take things. It has been a long and unproductive 2.5-year ordeal after the initial Brexit vote. The outcome is worrisome, Prime...
Here we have an update to the Cable chart.
The UK going back to the 1600’s as odds of another vote on PM May’s deal in the House of Commons this week are very low. For a house of “Commons” they are certainly lacking “common sense”.
... The rules are that two votes on the same motion are not permitted during the same parliamentary year. This means PM May will...
GBPAUD turned into a bearish market and I'm expecting it to drop at least to 1.8250 where the price will meet the lower trendline due the following reasons:
- Price has retested a historical high.
- Price has completed 5 Elliot Waves
- Price has created a harmonic pattern + pullback.
- Stochastics indicating sell
We could also see a trendline breakout at the...
EURGBP is reaching demand zone. Sellers are in profit. In 4 hours Theresa May is bringing out news about Brexit negotitations. The price might be manipulated by sellers. Watch out for the speech and then make the trading decision.
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In Europe the situation is dire. The European Central Bank is giving us more and more dovish signals. Benoit Coeure and Francois Villeroy de Galhau governing members of the ECB have both stated that the slowdown in the European Union is significant and that the interest rate may need to be altered. This week members of the ECB, BoE, FOMC, BoC and RBA are giving...
As you can clearly notice, sterling has been very volatile already ahead of Brexit vote.
The pair is trading now at 1.284 down 0.17%.
It is already widely expected that PM May will lose the vote tonight, the critical question here is by how much.
A defeat by over 100 votes is considered a major threat to the brexit deal and will drag sterling...
The Great British pound vs Singapore dollar currency pair is in a massive downtrend on the higher (daily and weekly) timeframes, and it is forming a symmetrical (isometric) triangle on the lower timeframes. Now it is important to note that there is going to be a lot of noise on the pound pairs for the coming weeks due to ongoing Brexit woes, but sell orders on...
There is no other FX currency that is harder to trade at the moment and has been for the past months as the GBP!. To put this into perspective, the GBP is so erratic that it has become technically unpredictable to trade. These days due to ongoing brexit talks this pair and other GBP related pairs have been affected drastically. In my personal opinion any trading...