Get started

Brexit

GBP Range Bound Trading OpportunitiesHigh risk analysis considering the UK election results are this evening, however... GBP is stuck in a nice 100 pip range on GBPJPY. 143.500 resistance holding now. price is looking to bounce back down to support at 142.500. At the 142.500 level this is a nice bullish trendline and support. This is the area to watch for another trade opportunity on either the break or bounce of this level. If support holds then expect price to go high and break new weekly highs. If the 142.500 level breaks then look for price to break lower. All price levels are on the chart. Election Results Impact: Conservative majority win is mostly priced in to the market. Anything other than this should see a drop in GBP value. Labour majority or coalition with minority, GBP might drop further than the lower levels on my chart.
by UnknownUnicorn772665
4
UK election results and ECB decisionConcluding a year that saw the central bank take down its benchmark rate three times, the Federal Open Market Committee on Wednesday met widely held expectations and kept the funds' rate at the same level. The Fed is completely satisfied with the current state of things. As a result, markets do not expect any changes in the monetary policy until the end of 2020. The dollar was sold out following the Fed’s decision and Powell’s comments. Our position on the dollar today is unchanged - we are looking for points for its sales. Another promising position for today is pound purchases. General election 2019 polling day today Today, December 12. Its results can change not only the political situation in the country but also affect Brexit. Moreover, its influence can be quite diverse and even opposite. Detailed analytics on this issue is given in yesterday’s review. Here, we note that, in our opinion, the balance of threats/opportunities and profits/risks is biased towards profits and opportunities. Christine Lagarde faces her first real test at ECB debut meeting. The era of Draghi is over, but what Lagarde will remember is still unclear. If she decides to express her vision and strategy, movements may well be in pairs with the euro. As for the parameters of monetary policy, today we do not expect any changes. So today it’s worthwhile to be more careful with the euro, on the one hand, be more careful, and on the other, the euro may well get out of hibernation, which will provide opportunities for earning. And finally, a few words about the oil market. IPO Saudi Aramco the initial public offering is expected to raise at least $25.6 billion, making it the largest ever with a capitalization of $ 1.88 trillion. The oil market more than calmly reacted to this news. Nevertheless, so far our position on oil remains unchanged - we will continue to search for opportunities for oil purchases on the intraday basis.
by Trade24Fx
Triangle Pattern Should Send EURCAD HigherAfter a lot of whipsawing price action on EURCAD, and AUDCAD, I could now see the kind of price pattern in the making. When there is a range-bound or contracting price action, it usually tends to be a Triangle. I'm able to label the price action on EURCAD. And if the count is correct, price should resume higher from or near the current market price and the invalidation level should remain intact for the bullish bias to remain valid. What's your thought? Bullish or Bearish?
Long
by Veejahbee
3
EURUSD BIAS IS CLEARLY BULLISH - HOW TO TRADE IT?After a lot of struggling to identify EURUSD bottom, the market has clearly indicated the direction of the trend. The Zigzag pattern from the weekend analysis actually completed the corrective structure in wave (ii). Since then, the price has made a five-wave up which I counted as an expanding leading diagonal, but it might as well be a "1-2, (i-ii), i-ii" wave pattern. What's most important is that we should see a pullback to the near support to get in at a value price, and also the wave (ii) low remains the current invalidation level for any buy position. What's your thought about EURUSD? Thanks for reading! Veejahbee.
Long
by Veejahbee
6
Setting up for a quadruple bull flagLovely pattern forming and i'm super bullish on the pair - i've been LONG since 1.2700 and plan to hold out until we reach 1.40 - personally i believe the conservatives will obtain the majority they need to Brexit, therefore sterling should respond positively. I remain on guard to close my position if the majority doesn't transpire as i believe it will be an incredible blow to the pound and we could be in for a long period of depression against the dollar. Good luck all and happy trading.
Long
by AZEB1A
3
Pound, and we are preparing for the Fed announcementOn December 15, the United States will not increase tariffs on Chinese goods.The reason is that the negotiation process between the US and China continues. The news was supposed to provoke sales in safe-haven assets, but it did not happen. That only confirmed our recommendation to look for points for buying gold and the Japanese yen on the intraday basis. Another quite revealing statement yesterday was the growth of the pound after frankly weak macroeconomic data came out: GDP, industrial production, and the trade balance were worse than expected and were generally weak (GDP growth at minimum levels since 2012). Nevertheless, the pound, as a result, did not decline but even strengthened. The reason is the same - markets expect a conservative party to succeed in the Thursday elections and the subsequent “soft” Brexit. We continue to recommend buying the pound. The key event on Wednesday will be the announcement of the decision of the Federal Open Market Committee on the parameters of monetary policy in the United States. After the publication of data on the labour market in the United States last Friday, it became clear that the Fed would not lower or raise the rate. Thus, the probability of maintaining the status quo is 98%. Therefore, do not count on strong movements in dollar pairs today. Accordingly, our trading tactics for the dollar today are unchanged - we will continue to look for opportunities to sell the dollar. As for the oil market, despite the data on the growth of oil reserves in the United States (figures from the API showed an increase of 1.41 million barrels, official statistics from the US Department of Energy will be published tonight), we continue to consider oil purchases in the current conditions quite pe promising trading idea.
Long
by Trade24Fx
GBPUSD DOWNSIDEGBPUSD Good morning traders and aren’t we spoilt for choice. It’s been a while since we’ve been in this situation. I want to get straight into it and with recent news suggesting that the UK election is tighter then expected we now have a fresh signal of sellers in the market. The chart presented is a 4H TF and we can see that we’ve pushed up “for no reason” we then had my favorite rejection formation on the Daily TF of 2X shooting star formations (Double confirmation) . This tells me that sentiment is shifting and we can prepare ourselves for a fresh round of sellers and more uncertainty coming out of the UK. Where to will we drop, intraday targets suggest 1.30000 proving for a 160pip trade. A further confluence to note is the Head & Shoulders play. Manage risk always! Cheers
Short
by lasglowfx
2
GBPAUD snap election tomorrowSnap election tomorrow. Tories need 320 votes for the majority and latest YouGov polls and forecast suggest Tories winning 339 seats, with Labour on 231 and the Lib-Dems on 15. The seat-by-seat model, which is based on thousands of interviews, puts the Tories on 43 per cent of the vote and Labour on 34 per cent. On the technical side GBPAUD broke the upper trend line and found resistance at 1.94. Price will be ranging now as we wait for the results of the election. Consensus is that Tories winning will surge the GBP up, while failing to get the majority will sink the GBP. Election results should start coming in around 2am GMT Friday. Good Luck!
by Antonio_trader
Tesco - Pattern consolidation for long trajectory.Tesco: -In the daily chart: Price action has consolidated into a rangebound symmetrical triangle, this usually symbolises continuation (to the upside) but I do not discount the possibility of a short if we fail to breakout long and in-turn breakout in the opposite direction. Identifying a breakout: In this case price has had bullish candles deviate outside of the range, however, using both a price and time filters for confirmed entry, no bullish daily candle has so far managed to close outside. As we are right at the upper wall of the pattern, this could occur soon for a nice RRR ONLY IF we get a bullish daily candle close long. Catalysts for the move: UK election - If the conservatives gain a majority on Thursday night then I expect this entry position to be triggered, if not then i expect the opposite for this and the FTSE100 in general if labour win or there is uncertainty with a hung parliament.
LSE:TSCOLong
by TomSaundersFXS
Time "X" is getting closer, Boris may be celebrating his victoryIn yesterday’s review, we already noted that this week may be decisive for several financial assets, and the global economy as a whole. On December 15, the United States may introduce tariffs on goods from China and thus bring trade wars to a new level. It's entirely up to an agreement between the parties. Even though we have heard positive statements for more than a month, the situation looks more and more menacing day by day. Although the probability of the successful completion of the first phase of trade negotiations between the United States and China is quite high, we will continue to look for points to buy safe-haven assets today. This recommendation will remain relevant until the actual conclusion of the contract. Meanwhile, in the foreign exchange market, is getting ready for Johnson's victory in parliamentary elections in the UK. According to recent polls, the Conservative Party will be ahead of the Labor Party by at least 10%. Recall, for Brexit, this means the end of the story - Johnson will be able to present his version of the deal Britain will finally leave the EU with the deal. For the pound, this is a powerful fundamental positive background. In this regard, we continue to recommend the purchase of the pound. It may well grow in the foreseeable future by several hundred pips. Since we are talking about the pound, we note that today will be published statistics on the UK. So you need to act with an eye on the data on GDP, trade balance and industrial production. Speaking of our other trading ideas for today, they are unchanged. Oil purchases still seem like a great idea to us in light of the latest OPEC + decision. Dollar sales are also promising.
by Trade24Fx
1
GBPNZD MARKET STRUCTURE + ELLIOT WAVE SUGGESTING A SELL-OFFThe market structure of GBPNZD shows how the price breakout of major ascending trendline and support zone. Price is currently retesting the broken levels that lined up with a descending trendline. Price has the potential to decline from or near the current market price. Elliot wave also shows a series of 1-2, (i)-(ii) sequence which could mean a rapid sell-off should be expected. What's your thought on GBPNZD? Best of luck on the chart! Veejahbee.
Short
by Veejahbee
Trade Ideas Position: Gold BatA golden trading opportunity for this upcoming second Brexit referendum on 12Dec19, yes you hear me right. It is no different to a second referendum when 1 party is pro-Brexit and another party is pro-Brestay. The UK people have another chance to vote what their heart desire, to stay in the EU or to leave. How the market will move, I've shared on my previous post on GBPUSD(link at the bottom), which every potential outcome it can happen, factor in 15Dec US Tariffs decision, it does have a strong possibility of Gold appreciation, you just have to look for a good entry. The setup I have for a more immediate approach will be the 1-hourly chart on a trend trading setup. This setup is not as beautiful as what I wish it could be, a strong bearish move follow by a consolidation near D pose a threat of further expansion to the downside, which may extend further and beyond point D, all is needed and prefer is X is not broken. I will definitely need a PRZ confirmation to engage the trade.
FX_IDC:XAUUSDLong
by RaynLim
FTSE Bottoming Pattern on 4 Hour Trade/ British ElectionsJust before I talk about this trade, just a fair warning that the British Elections are this week on Thursday December 12th. So a high risk event, and will be dominated by Brexit promises. I have spoken about how Central Banks in the Western world are stuck, and they are now attempting to maintain confidence in the system. They want to go back to easing and QE but remember, QE was supposed to be a one time desperate policy to prevent a 1920-30's like great depression. When we go back to QE, people will realize it did not work in the first place. They will use different names to mask QE, but this is the confidence crisis that looms. These central banks have one role now: to keep assets propped. This will eventually be morphed into buyers of LAST RESORT (instead of lenders of last resort...which was the central banks original mandate when they were first being formed). I am expecting higher equity prices in the US because there is nowhere to go for yield anymore. Also, many investors know the Fed will support this market. Not to mention the President needs high stock markets if he wants to win the next election using "Keeping America Great" slogan. Yes, we will have pullbacks, but equity markets will go higher. I speak about why this can be a problem for the Fed and the US Dollar. Post linked below. In terms of the current FTSE chart, we did make a bottoming/ double bottom pattern at a flip/support zone. From here, we had a nice break above a flip zone marked in blue, a strong break, and now it seems we are making our first higher low which will be confirmed with this current 4 hour candle close. Target will be the flip zone at 7340 for the trade.
FOREXCOM:UK100Long
by Uncharted-FX
GBPUSD-Weekly Market Analysis-Dec19,Wk2Apologise to the English Viewers for missing out the bearish shark pattern for a better chance entry. As mentioned on the video, this week GBPUSD on 12Dec19 there is a General Election, to me, this is as good as the 2nd referendum for Brexit. I'm not so much looking at if Brexit party win UK Pound will fall or Brestay party win UK Pound will rise, is more of the majority vote is given to either party, UK Pound will rise and if the result came in just as divided as the Brexit 1st referendum, UK Pound will fall hard. Traders who decide to engage the trade-in, either way, have to be careful of: 1) Market Whipsaw 2) Spread Widening Traders who have engaged the trade may consider this. Leave target2 open or extended target as a market expansion is expected why not look for 2nd support or resistance area as final target profit. If uncertain, avoid all GBP and EUR related pairs.
Short
by RaynLim
Due For A Pullback According To Weekly ChartThis pair is an ongoing swing trade. This pair may take a little bit of time to fully hit all TPs. At the moment, it looks like it's due for a pullback according to the weekly. I'm still looking for the overall move to remain bullish. But let's see how long the pullback will last before it continues on upward. Remember, I said it's due on the weekly. This means it can last a few days before it continues up. Keep in mind that since it's December, this thing may be a little jittery on the move. BEAR: • 1.73548 • 1.73132 • 1.72699 • 1.72316 • 1.71800 BULL: • 1.74406 • 1.75095 • 1.75927
by NikaJourney