2020-10-26 • Updated
GBP/USD has bounced off the key support of 1.30 and turned to the upside. The pound is widely anticipated to rally further amid rising hopes for the end of Brexit talks this weekend on Halloween. Telegraph reported that the EU and the UK have already agreed on 90% of the deal. Chances are really high.
The only thing left is fisheries. And, here is the problem as France totally disagrees with the current position. The French president Emmanuel Macron tried to defend his fishermen from unbeneficial conditions and job losses. A fourth of France’s catch in the northeastern Atlantic was in British waters, and no access to British waters might be devastating for France. However, Reuters reported that he already told his fishermen to be ready for the impact, indicating that France is possibly ready to agree on this issue. “Macron holds the key,” said an EU diplomat following Brexit. “If France climbs down, we can get a deal.”
GBP/USD has reversed from the 50-day moving average of 1.3000, which was acting as strong resistance during August and then as support in September and October. The most probable scenario is that the pair will rise to the high of October 21 at 1.3150. If it breaks it, the doors towards the next resistance of 1.3250 will be open. In the opposite scenario, if it manages to drop below 1.3000, the way to October’s dips of 1.2870 will be open. Follow further news about Brexit and be ready for the increased volatility, when the deal is reached!
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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