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GBP, EUR - Overall a stellar session for the Sterling in the...GBP, EUR - Overall a stellar session for the Sterling in the run up to the crucial meeting between UK PM Johnson and European Commission President VdL slated for 19:00GMT/14:00EST in a bid to overcome some hurdles within the three sticking points to pave the way for constructive negotiations. Sterling was lifted through 1.3400 (vs. low 1.3350) on the back of Cabinet Minister Gove intimating scope for a compromise on fisheries, whilst further optimism from the Irish PM only added to the tailwinds. That said, LPF is touted to be the most contentious issue, with some journalists also questioning the timeframe available to strike and ratify a deal. Nonetheless, Cable surpassed 1.3450 throughout the European morning to notch a session peak at 1.3478 at the time of writing with the 1.3500 level to the upside the next point of resistance, matching the Dec 3rd high. The firmer Sterling has also hampered gains in the Single Currency through the EUR/GBP medium, with the cross tumbling from its 0.9080 high to a base at 0.8983 and looking to end the European day around the 0.9000 mark. As Such, EUR/USD sees itself with slight losses heading into the close and off its ~1.2150 high and with an intraday base at 1.2100. Looking ahead, tomorrow’s docket from a European perspective is packed with risk events including UK GDP, Brexit follow-through, the EUCO summit and the ECB’s policy announcement. DXY - The broad Dollar and Index look set for a flat close to the European session, but with the latter still contained to the 90.688-934 range seen throughout the morning. Sights for the Buck remain on developments stateside as the House is expected to vote on a short-term spending bill today to avoid a government shutdown and the Senate could take up stopgap funding bill today, whilst Treasury Secretary Mnuchin also suggested 90% of the stimulus package will be completed today. Looking forward to tomorrow, US sees the release of its November CPI figures, but the ECB will likely dictate.
by FTUKcom
1
EURGBP Monthly/Weekly/Daily analysis 🦐Full video analysis of EURGBP --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger. Leave a comment that is helpful or encouraging. Let's master the markets together.
by InkyGrip
4
The Euro’s latest gains have been pushed in the footsteps...The Euro’s latest gains have been pushed in the footsteps of the Yuan and on technical grounds to a degree as Eur/Usd eclipsed DMA resistance just below 1.1800 along with decent option expiries between 1.1790 and the round number on the way to 1.1840 and a minor new m-t-d high vs 1.1831 from October 9. 1.1850 is the obvious next upside objective, as Eur/Jpy eyes 125.00, but the single currency lost some momentum vs Sterling into 0.9150 having taken out similar recent tops ahead of the current October best (0.9162 on the 7th of the month) in wake reports that chief EU Brexit negotiator Barnier will return to London this Thursday. Conversely, the Kiwi continues to underperform, albeit off worst levels near 0.6650 on the back of dovish comments from RBNZ Governor Orr overnight (plenty of room to buy more bonds and will be revealed at next month’s policy meeting on QE plus other tools like the FLP). Moreover, Nzd/Usd awaits further developments following another COVID-19 outbreak in Christchurch and the pair looks technically weak having formed a head and shoulders pattern since the end of July. All firmer against the Greenback, as the DXY moves around 93.000 having slipped below last Friday’s 93.005 trough, largely due to the stronger Eur advances as the biggest component of the index. The Franc is now targeting 0.9050, Loonie 1.3100 and Pound has rebounded from a test of 1.2900 given renewed hopes that Barnier’s visit later this week can revive flagging, if not forlorn trade deal prospects. UK COVID stats: Cases +21,331 (prev. +18,804), deaths +241 (prev. +80)
by FTUKcom
1