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Brexit

Brexit postponed, last quiet day of the weekThe Brexit date is set to be delayed until 31 January Again. Johnson, as promised, asked parliamentarians to call early elections in December. He has failed to win on Brexit. Johnson said that he would make another attempt today and said that without early elections, it would not be possible to ratify the agreement with the EU. Today will be the last relatively calm day in the foreign exchange market, because on Wednesday the Fed and the Bank of Canada will announce their decisions, on Thursday we expect news from and the Bank of Japan, well, on Friday we are waiting for data on the US labour market to come out. So it will be an extremely interesting and volatile week. But we will talk about these events as they approach. And today we suggest focusing on trading using the stochastic oscillator. That is, we trade without obvious preferences according to the signals from hourly oscillators - we buy in the oversold zone and sell in the overbought zone. But at the same time, we do not try to impose our will on the market and fix our positions with relatively small stops. List of our current trading preferences as follows: selling the dollar, buying gold and the Japanese yen, selling the Russian ruble and buying oil on the intraday basis. -Some of the positions may change their direction, so new prospective options could be added. For example, purchases of the Canadian or Australian dollars against the US dollar. The only thing that keeps us from actively recommending the purchase of commodity currencies is their approach to important levels. The Canadian will have a chance to hit the key support on Wednesday when the results of the meetings of the Bank of Canada and the Fed will be announced. The Australian dollar may take advantage of the possible sale of the US dollar on Wednesday after the Fed’s decision and also gain a foothold above 0.6880.
Long
by Trade24Fx
ORBEX: Trump Comment Reduces Haven Flows, Brexit Extended Again!In today’s #marketinsightsi video recording, I talk about the rise of optimism around US-Sino trade and how it could impact #USDJPY until the two leaders meet next month. On top of the latest #Trump related flows, the pair will be affected perhaps positively from this week's #FOMC meeting as markets are expecting the Fed to cut interest rates again! I also picked #EURUSD on the back of yet another #Article50 extension and as #pound seemed a little "out-of-touch" with the latest developments surrounding #Brexit. Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
by Orbex
Get ready for Fed decision, Brexit & bullish oil marketBrexit was accustomed to being the main news generator last week, at least for the pound pairs. Parliament refused to vote for the deal until it made changes to British law, which meant the need to request a postponement. In our opinion, this is just a way to publicly humiliate Johnson, who has repeatedly said that October 31 will be the end date. As a result, Johnson sent a letter to the EU asking for a postponement, but “forgot” to sign it. In the EU, instead of a postponement, decided to wait until the British agreed on something. It is all about the special election. On Monday, this issue will be put to a vote in Parliament. In general, the week will be hot for the pound from its very beginning. Well, the date of October 31 is Thursday of the current week. So get ready for the sharp spike in pound volatility. Generally, we remain bulls on the pound - the issue of leaving without a deal is practically removed from the agenda, so this is a sign for buying the pound. But its decrease by several hundred points against the background of negative news from Parliament / Government of Great Britain or the EU is quite possible. So do not forget to put stops and monitor the news background. The current week for all other participants in financial markets (except the British) will be interesting first of all by announcing the Fed's decision on the interest rate on Wednesday. The current consensus - lowering the interest rate, and then will put the process of changing rates to a pause at least until the end of the year. We’ll talk more about this on Wednesday before the event. Unexpected for the markets Central Bank of Russia decreased the interest rate by 0.5%. Given that the ruble came close to our settlement point No. 1 for the sale of the ruble, we recommend opening long positions in the USDRUB from current prices in the region of 63.60 with a minimum target in the region of 65.20. The second round of purchasing starts at about 62.60. And a few words about the oil market. Formally, our recommendation to buy in the region of 51.20 with goals 56 last week worked out completely. Knowing how events are developing, there is a chance to raise the growth target - oil may well reach 60 (WTI brand). According to Baker Hughes, the number of oil rigs in the United States fell by 17 to 696 units. Thus, their number has fallen to its lowest level over the last 2.5 years. Recall, last week, US oil inventories decreased by 1.7 million barrels. So this week we are looking for points for oil purchases. The goal until the end of the week is 60. But at the same time, do not forget to set up small stops.
FX:USOILLong
by Trade24Fx
- Free Gold Signal - Retest of Broken Wedge/ DTL We can use a retest of the break of a longer-term daily train line for gold to take longs up to 1535 as our first target. 1500 as held as a very good institutional level and I feel like this is a good opportunity to take advantage of long entries after a clear for our retest of the broken trend line at 1500 concluding to multiple confluences worth us taking risks this early into the game this week. Stop Losses should be at least 120 pips. We would love you're feedback on golds.
OANDA:XAUUSDLong
by UnknownUnicorn3442968
GBPUSD - Upcoming weekness in GBP-Pairs! - Remember the Brexit;)Hi Traders! The market started to rally on 10th October really fast. It started at around 1.22100 and rallyed until the resistance at 1.30000: That is around 800 pips in one week! Because of that speed, the volatility increased and then the sellers came in at 1.30000. They were pushing the price lower and now the market tries to go up again. Our expectation is that it will fail to go even higher. In addition we have the Brexit in one week, so we expect the GBP to become weak. ------------------------------------------------------------------ Thats when WE get in!!: We use the weakness of the GBP Pairs to sell the breakout. We only trade until the resistance, but we need a bit wider SL! Be prepared! Our target is to reach at least 150 pips and our Stop is around 100 pips. ------------------------------------------------------------------ Thanks to all and good luck :)! PS: Leave a like!
Short
by swissmoneymakers
GOLD end of 2019|DEC RATE CUT|TRADE WAR|ECON FUNDAMENTALSKeeping it short but precise, few fundamental bullet points on factors that will affect gold until the end of 2019: 1. Once US/China deal gets finalized, Gold should have a bearish consolidation to 1410, eventually to 1360 by the start of 2020. 2. GOLD is currently in a horizontal range due to two factors: Global monetary policy dovishness continues for October(bullish) , but at the same time higher likelihood of a good US/China deal outcome(bullish), and then there's Brexit. 3. On the point of monetary policy; OCT 31st meeting already priced in , everyone is focusing now on Dec 11th FOMC (Ref#1) . The issue for the Dec 11th FOMC, is that it will depend massively on the US/China deal outcome, that'll be decided sometime mid November. 4. Expecting yields on the US 10Y to recover if a deal goes through . Yields in a range, above the critical 1.5% support, and at the moment are looking for a breakout. Of course, this would have a very bearish effect on gold. ________________________________________________________________________________________________________________________ On the technical side, you can see the developments on the chart. On the daily looks very indecisive, but leaning bearish. In fact, I think that after the FED rate cut next week, on Friday the 1st of November there should be a sell-off in gold. Earnings season is going okay-ish well, and by the end of it we should know how it will affect gold. Have to reiterate that Trump has to get a deal done with China; that'll basically guarantee him another mandate from 2020 . This is the main factor, that makes me bearish on gold for now. This is it for Gold, it was just a short, but precise update. -Step_ahead_ofthemarket- >>I do not share my ideas for the likes or the views. This channel is only dedicated to well informed research and other noteworthy and interesting market stories.>> However, if you'd like to support me and get informed in the greatest of details, every thumbs up and follow is greatly appreciated! __________________________________________________________________________________________________________________________ References and disclosure: 1. www.cmegroup.com Full Disclosure: This is just an opinion, you decide what to do with your own money. For any further references or use of my content for private or corporate purposes- contact me through any of my social media channels. This short update is just a continuation from a previous chart on gold:
FX:XAUUSDShort
by step_ahead_ofthemarket
6
ORBEX:BoJo Pushes for Election, Draghi Hints to Fiscal Measures!In today's #marketinsights video recording I analyse #GBPUSD and #EURUSD #FXMajors! GBPUSD Dragged down by: - BoJo push for an early election on December 12 - Increasing likelihood of October exit failure EURUSD Under Pressure as: - ECB reiterates downside risk, stubbornly low inflation - Draghi hints to fiscal policy measures Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
by Orbex
Draghi - Last word, Johnson's threats, EU and USA statisticsThe main event will be the announcement of the ECB decision on the monetary policy parameters in the Eurozone. Given the general tendency toward easing monetary policy in the world and the recent actions of the Central Bank of Europe, euro can be expected a pretty unpleasant surprise, In theory. But in practice, most likely everything will be ok. Mario Draghi is ending his eight-year term at the European Central Bank. Accordingly, there is simply no reason for him to present any surprises and slam the door after leaving. However, follow the ECB's comments on the quantitative easing program and the size of bond purchases by the Central Bank is needed. Given the general state of the global economy in general and the Eurozone in particular, the ECB does not have to rely on positive signals for the euro today. But they are unlikely to sell the euro. In this regard, today we recommend working with the euro with hourly oscillators, but with a mandatory eye to the decision and comments of the ECB. Also, today it is worth paying attention to data on business activity in Germany and the Eurozone. They may well create the ground for a subsequent reaction to the results of the ECB meeting. As for other countries and currencies, quite a lot of macroeconomic statistics will be published in the United States, including data on orders for durable goods, business activity indexes, as well as statistics on sales of new homes. We are still negative about the dollar, so we recommend using weak data as a reason for its sales in the foreign exchange market. The Brexit situation is again plunging into a chaos of uncertainty, but uncertainty without a global threat. This refers to an exit without a deal. On the one hand, the House of Commons of the British Parliament supported the new Brexit bill, based on an agreement reached by the government with EU representatives last week. On the other hand, Johnson does not abandon attempts to complete Brexit by October 31 and proposed that Parliament finally approve the agreement on Thursday, otherwise he promised to withdraw the agreement and call early elections. Despite Johnson’s threats, markets generally believe in a happy ending but are not completely sure what final form Brexit will take. In this regard, our recommendations to buy the pound on the rebound remain relevant today. The oil market experienced some recovery yesterday after the publication of data on oil reserves in the United States. Oil stocks unexpectedly declined (by approximately 1.7 million barrels, while markets were preparing to continue their growth by 3 million barrels). Our position in oil is still unchanged: while the asset is above 51.20 (WTI brand), we give preference to purchases on the intraday basis.
Long
by Trade24Fx
DARE TO CATCH THE FALLING KNIFE? GBPUSD Setup: Price is in very strong uptrend, but I can see a HNS forming maybe price is running out of steam and going to retrace to "refill" some gas. Haha. Overall trend is still strong bullish. This is a counter trend setup. Confluence: BRN Price Action Structure Supply zone Structure Breakout Entry Confirmation: Wait for CRS then sell Entry: Sell limit@ 1.2960, SL @ 1.3030 (70 pips), TP @ 1.2700 (260 pips) I use sell limit because I don't have entry confirmation yet, if strong bullish move triggers my entry, then I might cut loss. Let me know what you think.
Short
by BarryAllen_Thee
1
ORBEX: EURGBP - Ready to Take Break-even Stops Lower?EURGBP could move a tad lower to complete intermediate wave 2 near 0.8480 before continuing higher. The said level is the 100% FE of the first minute degree zig-zag and could be duplicated as minor X was somewhat dominant. Look for a valid reversal above last zig-zag's minute b wave but expect minute c to complete first. Minute c should be truncated to support this outlook, otherwise, fresh lows can be expected. Should prices move below minute a low the complex minor W,X,Y pattern could come to an end. Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice.
Short
by Orbex