GBPUSDKill zone activated my trade order, With fundamentals playing a strong factor in the bullish momentum right now i have been waiting for a pullback between the 62%-88% zone in order to place a buy.
Looking at trailing my stop loss with this trade as i do with every trade.
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Brexit
Pound records, trade war and attack on Iranian tankerThe United States and China negotiation on trade war took place last week. In just two days by 500 points, the GBP showed a sharp growth regarding Brexit news. Actually, we have been waiting for this for quite some time and note that this growth is not limited. This week, EU summit on Brexit will be held on Thursday. With the positive outcome, the pound may well get another five hundred growth points in the asset.
But let's not get ahead: events are still in the process, and the pound remains very vulnerable to negative news. After all, there are no real facts of the arrangements between Johnson and the Irish Prime Minister exist. So any change in negotiation may radically change market sentiment.
Our position on the pound remains unchanged. We were sure that there would be no way out without a deal, and we are sure of it. And this is an occasion for buying the pound, even after such impressive growth.
Negotiations between the USA and China. According to the current situation, the United States agreed to suspend another increase in tariffs on Chinese goods which is expected to be realized this week. The parties announced progress in the negotiations but did not work out any final agreement. So actually it is a positive news global economy, but again the situation is very precarious. According to Trump, it may take up to five weeks to prepare a final agreement. He acknowledged that the deal could break, but expressed hope that this would not happen.
We will wait for a while with gold purchases, but sales of the USDJPY pair look very promising. We place stops above 108.90, profits 106.8 and below. Moreover, the Middle East is again troubled.
At the end of the week, the Oil market strengthened. Recall, we recommended buying it in the area of 52 (WTI brand). The reason for the active trading on Friday was information about a missile attack on Iran’s oil tanker. Iran has already stated that the rocket flew in from Saudi Arabia. Given that before this, the Saudis accused Iran of attacking their oil facilities, the conclusions of Iran seem generally logical. We will remind, earlier Saudi Arabia pretended that the incident has been settled, and they will not aggravate the situation and try to take revenge on Iran.
Therefore, this week we will continue to recommend oil purchases. Moreover, the goals that we announced last week for purchases have not been achieved yet. More precisely partially achieved (recall, we predicted $ 55- $ 56).
Today is a day off in a number of countries, including the United States. Given the extremely unstable news background, this is fraught with explosions of volatility, so today you need to trade with extreme caution.
ORBEX: #Tradewar #Brexit: Two Deals, Not One, TWO DEALS!In today's #marketinsights video recording I analyse #SPX500 and #DXY
SPX Bid on:
- US-China limited deal
- Brexit front optimism
*Performance depends on deal details and US earnings!
US Index Down on:
- Trade optimism
- Fed willing to cut again
And despite UoM was upbeat!
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice
GBPUSD 1.2500 OR 1.3000?Well well what a week for the pound. Boris actually looking like he's pulling his finger out and cut the irrelevant and commences positives talks with IE Brexit associates that see the Pound rocket 500pips in two days!!
Now will the market stabilise and pull back? I think so, but when? currently I have a monthly key level and a pink weekly trend line at 1.27000 where we saw price get held. We are yet to see any bearish signals on a higher timeframe so there could be further room for a more upside to a next key level of 1.3000
Now with the EU summit taking place towards the end on the up and coming week ahead we need to keep our whits about the market ahead. Sticking toy technical thoughts I would like to see another reaction of 1.2700 and a retracement with high timeframe resistance holding strong. with 1.2500 being a fibonacci retaracement zone is see this as a great short opportunity
GBPUSD-Weekly Market Analysis-Oct19,Wk3Nothing much for me to look for on the smaller timeframe, for countertrend trader you may have to wait for a retracement on the smaller timeframe for a buying opportunity.
On the daily chart, a bearish butterfly pattern forming up within the sell zone. I'm definitely interested to see the development of this setup and might just participate in it.
GBP/CAD 360 pips up-move potentialHi traders, here we have the GBP/CAD pair at an important 4-hour/daily support.
The pair reached the lower trendline support, a horizontal support zone and the 61.8% Fib level while trading in an overall uptrend, signaling a potential retest of the recent highs.
Notice the bullish divergence in the RSI indicator.
IG Group - Inverse head and shoulders bottomBuy IG Group (IGG.L)
IG Group Holdings plc is a United Kingdom-based company, which is engaged in online trading. The Company provides contracts for difference (CFDs) in over 17 countries globally. The Company's segments include UK, Australia, Europe and Rest of World. The UK segment consists of its operations in the United Kingdom and Ireland, and derives its revenue from financial spread bets, CFDs, binary options and execution only stockbroking. The Australian segment derives its revenue from CFDs and binary options. The Europe segment consists of its operations in France, Germany, Italy, Luxembourg, the Netherlands, Norway, Spain, Sweden and Switzerland, and derives its revenue from CFDs, binary options and execution only stockbroking.
Market Cap: £2.2Billion
IG has completed an inverse head and shoulders bottom pattern on the daily chart. The move higher stalled at 648 and has corrected lower towards the neckline of the pattern at around 580p. This also lines up with a couple of Fibonacci support levels. The bullish outside candle that has formed today suggests that further upside could be seen in the short term.
Stop: 555p
Target 1: 630p
Target 2: 733p
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Join our free Telegram channel for up to date analysis on the best main market opportunities in the UK right now - t.me
XAUUSD - END OF THE WEEKA drop in Gold post CPI numbers on Thursday before a small push up on Iranian oil tanker early Friday morning to trendline again before slamming through our strong support now turned resistance.
I would expect to see a retest and then another push down to complete the movement, either today or next week.
Stay Green.
GBPJPY updateSpike happened from support as expected and already hit target. One issue is this is based on Brexit news, so positivity could be short-lived.
Brexit secretary Barclay is in Brussels for talks with Barnier today, so waiting for the next bit of news.
Technicals suggest we are at resistance and waiting for the break to the upside or small time frame reversal patterns, but must be in line with sentiment.
Good Luck!
Brexit breakthrough and markets bet on the breakthrough in US-ChThere were no major breakthroughs at the meeting between UK Prime Minister Boris Johnson and his Irish counterpart Taoiseach Leo Varadkar over the Irish border backstop. Recall that today it is the main sticking point that stops signing an agreement with the EU. As a result, the GBPUSD soared more than 250 points.
However, this is not the end so you should not relax. Next week, the EU summit will take place, from which markets are waiting for a final decision on Brexit. Current options for the development of events include an agreement with the UK, another delay or exit without a deal.
We have been supporting pound purchases for a long time since we believe in Brexit deal.
Negotiations between the USA and China continued to be the hottest one. Trump said the talks went well. Today, Trump will host Liu He, Vice Premier of the State Council of the People's Republic of China, in the White House, so surges in volatility in the financial markets are still likely.
The markets seemed to be imbued with Trump's confidence, as demand for the Chinese yuan in the options market sharply increased (over the past 24 hours, traders bought two-month options in the dollar/yuan with a strike at 6.95 for $ 650 million). That is, traders are trying to prepare for the success of the negotiations and are waiting for the renminbi to strengthen.
trading decisions have to be made with an eye to a possible change in the existing fundamental background.
Regarding our position on safe-haven assets, today we will not recommend buying gold or the Japanese yen. The situation is too unpredictable, and the risks are too high. Our recommendation for today is the adaption to any negotiation outcome.
The success of negotiations between the United States and China, in theory, will be accompanied by haven assets sales. Accordingly, you can act respectively, with that. Yesterday, pound dynamics showed that even a late call could bring significant profits.
If negotiations fail, you can act respectively purchasing gold and the Japanese yen.
In terms of macroeconomic statistics, Employment Change in Canada is what we are interested in. So today is an interesting day to work the Canadian dollar.
GBPUSD: Catching Pullback After Bull Impulse
hey traders,
yesterday we saw a very significant movement on GBPUSD
and the pair is very very close to a key supply zone.
I think that many traders will take profits inside this area and structure trades will open shorts.
For this reason, on my trading radar is 1.249 - 1.258 area of resistance.
I will be waiting for a reversal signal inside this area to short the pair.
Target levels will be 1.24 and 1.23
ORBEX: GBPUSD, USDCAD: Surprise on the US-Sino and Brexix FrontsIn today's #marketinsights video recording I analyse #GBPUSDand #USDCAD FX Majors!
GBPUSD records best day in months
- Johnson-Varadkar see "pathway to deal" by end of October
- Despite GDP and MAnufacturing data disappointed
USDCAD down on tradewr optimism
- Trump changed mind and now is open to a partial deal
- Willing to and will meet He on Friday to resume talks
- Cad stronger as oil supported by positive headlines (China is big oil importer)
Looking forward to Canada's employment report!
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice
EURGBP updatePositive Brexit news sent GBP sky high. Now at support level, similar on other GBP pairs. News is positive but we heard that before, so expecting a retracement here. Could just be algorithms reacting to positive words in the news.
Great risk-reward with stop below and targeting back up.
Good Luck!
10-10-2019 GBP/USD -Path to deal Brexit? Long!-The Cable held a 61% fib level and bounced from here, thanks to the possible Brexit deal. We may see a complete ABCD cycle before the Brexit happens. 1.268XX looks like an ideal target for the bull-run with U.K. and Irish are working on the pathway to a possible Brexit deal. ----Point "D" meets absolute downtrend line colored in red----
Bearish the euro trend continuationTrend continuation trade looking for a retest of the lows with target ones at 1.09052 and target twos at 1.08637. I would keep a close eye on Brexit today was a big day after the private meeting between Boris Johnson and Leo Varadkar which resulted in positive news of a potential Brexit deal by the end of October, but the EU summit still awaits, which will be something to keep an eye on the coming weeks.
No-Deal Brexit Coming - SHORT GBP/USDA NO DEAL BREXIT IS COMING
- 'they' don't want a deal, UK international
banking assets jump 10-20% on a devaluation.
- Thats a revaluation of £100bn-£200bn
onto UK banks books.
- Then all the short seller positions
Then banking deregulation
- We even avoid the EU tax cutdown law in Jan 2020
- Borish Johnson reiterates UK is leaving the EU on 31st October
- EU will take cue from Dublin, who have already said
non-starter deal
- First EU take on the deal is "cannot be serious";
"if this is the final offer then it is no deal"
- EU Lawmaker Lamberts says 'this does not bode well'
seems to be seeking a no-deal Brexit and wants to
blame the EU for this