2020-12-23 • Updated
The Brexit deal can be reached on December 24, according to media reports. EU-UK talks will continue trying to find a compromise on fisheries and the level playing field. The question is how much fish the EU will be allowed to catch in the UK waters. Last week, the UK pressed the EU to agree on a 60% cut of the current value, but the EU has rejected to accept more than 25%. Yesterday, the UK offered a reduction of 30%, but the EU refused to take this offer too.
Some analysts claim that if an agreement is not made by December 24 then the Brexit talks will be expected to continue after Christmas. The GBP will stay volatile all this time, while the major track will be defined only after the final Brexit decision.
However, Brexit is not the only problem that the UK faces these days. The new Covid-19 strain has been found in the UK, which is 70% more contagious than the previous strain. Vaccine makers believe their shots will be efficient against the new virus variant as well, but the performing tests should be made at first to confirm this information.
The GBP has been rising during the day as investors have hopes for the breakthrough tomorrow. EUR/GBP is moving down towards the 200-period moving average of 0.9000. This support is really strong as the pair has failed to break it many times so far this month, that’d why the pullback to the upside is expected in this area. The breakout of 0.9000 will drive the pair to the low December 1 at 0.8950. Resistance levels are 0.9090 and 0.9130.
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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