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Brexit

EURGBP bounce or break at 3 year range support?Depending on the outcome of Brexit within these two weeks, we could see a bounce or strong break of a 3 year range (since Oct '16). Either way, a deliberate move at range support is expected: If range is respected once more, TP: 0.9200 (+800 pips) If range is broken after 3 years, TP: 0.7400 (+1000 pips) Catalyst for a break of the range will be last minute Brexit deal by 31 October. One could place SELL-STOP orders below the range to catch the big break as a retest is unlikely for such an event. If expecting an extension, or no deal, then BUY-LIMIT order at range support.
by simplejack
Brexit "optimism"I am not a huge fan of trading the sterling solely on technical analysis. Not with Brexit development causing price fluctuations from time to time. I always prefer (tho not exclusively necessary) trading any currency while having an objective picture (market sentiment) of the market involving the currency I want to buy or sell. I might be late to the party (buying sterling on Brexit optimism) I have a solid belief of what the mood of the market is regarding the sterling at the moment.. that is cautious optimism and not fully priced in. I am cautiously bullish on sterling just purely based on short term market sentiment. A price correction is anticipated however that weekly and monthly upside projection have been hit and exceeded. I will only look for business at the levels I have marked on the chart (looking for the bear trap). Risk event for sterling is CPI y/y number however I doubt it will cause a significant spike. Another risk for this plan are : a) Range have been exceeded, institutional profit taking is likely b) negative brexit news
Long
by sufiansaid
1
Brexit & pound, IMF forecasts and Bank of Japan plansThe pound is a focus of attention of the forex market. Because Brexit is entering final straight. Yesterday the European Commission's chief negotiator Michel Barnier said that Brexit deal within reach in last-ditch talks, but doubts remain. And then there was information that the legally agreed text will be presented to the delegations of the EU and the UK no later than Wednesday morning. On the whole, we cannot but note the positive attitude of the parties, which only strengthens us in the desire to buy the pound. Recall, there is a potential pound value growth. UK labour market data released yesterday (came out pretty weak), once again showed that Brexit is only the pound traders are interested in. So we continue to pay attention to this issue. We still have time for pound purchases at affordable prices, but it is running out. IMF cuts global growth forecast. In 2019, global GDP growth is expected to reach 3% (this is 0.3% lower than the previous IMF forecast), and in 2020 the growth rate will be 3.4% (0.2% lower than the previous forecast). We note that the rate of economic growth in 2019 has been revised to the worst one since the financial crisis of 2008-2009. The IMF noted that the damage from trade wars is equal to the Swiss economy. In general, that is bad news for commodity and stock markets, as well as currencies such as the Canadian and Australian dollars. But good for safe-haven assets buyers. The US decided to hint to Turkey that a ground invasion against Kurdish people might not be the best idea. We are talking about US sanctions against Turkey, announced by Trump, as well as Volkswagen's decision to suspend the construction of an automobile plant in Turkey (price tag $ 1.4 billion). While no reaction from the financial markets to this has followed, we decided to leave our recommendations for the purchase of safe-haven assets (gold and the Japanese yen). So today we will continue to look for intraday long positions to open. Information that the Bank of Japan is preparing to reduce the volume of investments in bonds. The event is nontrivial. 10 years ago the Central Bank did that. We interpret this signal as monetary tightening. The yield increase in the Japanese bond market may well trigger a strengthening of the yen. In this light, our recommendation to buy the yen seems reasonable. Leading global analysts predict target 100 for the USD JPY.
Long
by Trade24Fx
Possible EUR/JPY Short Position!! SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Chart time frame - H4 Timeframe - 2-4 Days A – Activating Event Market will meet resistance in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 117.300 C - Fundamentals that may affect the pair USD Retails sales on the 16th Oct @ 22:30 AEST D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 117.30 Target 2 @ .... Risk/Reward @ 4.5.1 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
Possible EUR/AUD Short position !!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Chart time frame - H4 Timeframe - 1-3 Days A – Activating Event Market will meet resistance in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 1.621 C - Fundamentals that may affect the pair AUD Unemployment Rate on the 17th Oct @ 10:30 AEST D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 1.621 Target 2 @ .... Risk/Reward @ 2.5.1 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
GBPUSD update Brexit deadline is comingWave (iii) is in full swing, now near the 100% extension. Ideally wave (iii) should go up to 1.32 level So far technical and fundamental analysis is fully in line. Not expecting to test Brexit lows again. October 31st deadline is close, should launch the price further. Expecting price to range here mostly before the decision. Small time frame trading is still good possible. EURGBP shows better trading opportunities with more direct price moves. Comment your thoughts on this! Good Luck!!
by Antonio_trader
ORBEX: Gold & Oil Slide on Earnings & IMF ReportsIn today's #marketinsights video recording I analyse #XAUUSD and #WTI Oil! Gold Lower on: - Brexit optimism despite running out of time - Banks reporting good Q3 results, and equities rising - US-Sino on a stalemate, allowing new-coming flows to take over Crude Oil Lower on: - IMF downgrading growth again, again - Dismissed excitement surrounding limited trade deal - Increasing demand for Natural Gas Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
FX_IDC:XAUUSD
by Orbex
EUR/USD GIVES GREEN LIGHT TO BUYHi traders, hope you had a productive week with the developments around Brexit these days. This post, however, is about EUR/USD. The pair faced buying pressure after reaching a shorter-term support level / completing a pullback to the 1.10 level. As you know, I've been bullish on the pair these days, and the price hasn't managed to close below the 1.10 mark (check my previous posts for this.) Positive news around Brexit is also positive for the euro. Don't forget that, from a technical standpoint, the break above the wedge pattern projects a profit target around the 1.12 level. Please hit the "LIKE" button if you find any value in this analysis. Thanks!
Long
by MujkanovicFX
2
Possible GBP/USD Short Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Chart time frame - H4 Timeframe - 2-4 Days A – Activating Event Market will meet resistance in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 1.22 C - Fundamentals that may affect the pair GBP CPI on the 16th Oct @ 18:30 AEST D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 1.22 Target 2 @ .... Risk/Reward @ 4.5.1 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
GBPUSD: Simple Double Top Trade very interesting situation on GBPUSD . The pair is coiling around 1.27 structure resistance and we see a clear rejection of this level. The pair has just formed a double top pattern, and there is a high chance of switching the sentiment from bullish to bearish . Our trigger is the bearish violation of 1.255 structure support level. If the market breaks below this level we can short the pair expecting bearish continuation to lower structure levels. Target levels will be 1.242 1.230 *if the market goes up and closes above the resistance, setup will be invalid! Please, support the idea with like and leave a comment! Thanks.
Short
by VasilyTrader
5
Keeping the peace in a troubled world, IMF forecastsEven though yesterday in Japan, the USA and Canada was a day off on the financial markets we cannot but call that day like a calm one. As it was expected, a mini pound bubble burst. The lack of new positive drivers forced the most impatient to take profits of about 500 points. Plus, fears that the deal will fail again remains relevant. In particular, the EU’s chief Brexit negotiator, Michel Barnier, said that the current version of the deal lacked detail, which could lead to potential time pressure (there is too little time to discuss all the important points - the summit will be held on Thursday). Our recommendation is to buy the GBP remains relevant. Remember about stop loss, because the potential of the pound growth is far from exhausted. It can still grow by 500 or even 1000 points. Today we are waiting for statistics on the UK labour market to come out, which may well trigger a surge of volatility. This should be taken into account when making trading decisions. Safe-haven assets remain relevant yesterday and the recommendation to buy the yen proved its worth. Indeed, there are many reasons for buying safe-haven assets. It would seem that the agreements between the United States and China have somewhat relieved the tension, but if you look at what is happening from another side, facts side, then nothing has been signed, and in general, we are talking only about the first phase of the agreement. That is, mass exiting safe-haven assets on such news would be at least illogical. As for the Middle East. Turkey’s ground military operation in Syria, the attack on the Iranian tanker - although these are links of different chains, they only emphasize how explosive the region is. Against this background, reassuring investors would look very strange. So today we will not only continue to buy the Japanese yen but will also restore our recommendation to buy gold. The reason for the growth of safe-haven assets today may be the IMFforecasts publication on the growth rate of the global economy. If (when) the Fund again lowers its forecasts, the demand for safe-haven assets will have to rise as well as the prices of gold and the Japanese yen. We draw our readers' attention to excellent points for entering a short position on the EURJPY. In this light, our position on oil purchases looks problematic. However, the tension in the Middle East and concerns about the oil supply on the market may well balance the weak forecasts for the growth of the global economy and, accordingly, the fears of weak oil demand in this regard. So while oil above 51.20 we will look for points for its purchases with a target of 55-56 (WTI brand).
Long
by Trade24Fx
ORBEX: GBPUSD, AUDUSD: Trade And Brexit Deals Fall Short!In today's #marketinsights video recording I analyse #GBPUSD and #AUDUSD Pound Lower on: - Highly complex proposal for a double customs system - Nothing substantial or "workable" submitted to EU Aussie Lower on: - Tradewar shift, again, as tariffs part of the limited deal - Phase one not documented, China needs confirmations Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
by Orbex
GBP/USD to around 1. 40 000 GBP is about to break out if they leave Europe, but that won't be easy. It might first go to 1.28 000 and after it can pull his 3d swing pull back to 1.25 000 Let's say that there will be a solution for Brexit and they go out from Europe. First it need to break to 1.27 942 to reach 1. 40 000 I used price action bars; it tells weekly that there is a blue bar(it means that the biggest bank have bought some GBP like J P Morgan. And when this happend it can trigger the BULLS. Like you see , i use also ichimoku as a back up. Have a nice week and let's see if we can make money but do have risk managment, cause GBP is very volatile it isn't my best pair Hola
Long
by price_action_bars