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Is #USO Breaking Out?Is #USO Breaking Out? # Crude #oil extended last weeks Friday’s positive close in trading on Monday as U.S. President Joe Biden’s visit to Saudi Arabia failed to deliver anything concrete. The trip was aimed at coaxing the Saudi’s to increase oil production thus easing inflation pressures. The response from the Saudi’s and other key officials reiterated the fact that production scheduling and/or increases remain with the OPEC+ consortium leaving President Biden without a deal. Sorry #JoeBiden
AMEX:USOLong
by fintechwire
ridethepig | GBP Market Commentary 02.12.2020This point of view, relying on the soundness of the highs, which has been proved, will be vital to our success, because it is what we are leaning on and it is giving us a chance to pull the trigger in a somewhat cheap area in terms of risk. But the risk is as follows: if the only way to achieve liquidation is a sweep above mentioned highs, the possibility of running stops on a headline is still NOT zero. So what are the possibilities of our stops getting hit? It is not an easy one to answer. It depends on a closer look at the timing, it is always more important than price, the only reason GBP is not trading at 1.20 and 1.15 is namely the dollar devaluation and some more details around a deal which can still follow. I would like to anticipate that it was all too easy for UK to push through Pfizer and consider it an important advance on softening brexit headlines that are still to come. Allow appropriate room for the stops incase of that possible thrust, a single towards 1.285 and 1.20 is sufficient. Thanks as usual for keeping the feedback coming 👍 or 👎
Short
by ridethepig
3
Brexit All you Need to Know about the UK Leaving the EU 🍃📌 Brexit: What happens now? The UK left the EU on 31 January 2020 and is now in an 11-month transition period. During this period the UK effectively remains in the EU's customs union and single market and continues to obey EU rules. However, it is no longer part of the political institutions. So, for example, there are no longer any British MEPs in the European Parliament. 📍 MP's back Boris Johnson's plan 📍 What is Boris Johnson's deal with the EU? Future trade deal Negotiations on a trade deal with the EU have been proceeding for several months. The UK wants as much access as possible for its goods and services to the EU. But the government has made clear that the UK must leave the customs union and single market and end the overall jurisdiction of the European Court of Justice. Both sides say there a still significant areas of disagreement - for example, on EU proposals for a so-called "level playing field", which would see the UK and EU maintain similar minimum standards on things like workers' rights and environmental protection. 📌 Brexit: What is a level playing field? The deadline for the two sides to agree an extension to the transition period has now passed. If no trade deal has been agreed and ratified by the end of the year, then the UK faces the prospect of tariffs on exports to the EU. The prime minister has argued that as the UK is completely aligned to EU rules, the negotiation should be straightforward. But critics have pointed out that the UK wishes to have the freedom to diverge from EU rules so it can do deals with other countries - and that makes negotiations more difficult. It's not just a trade deal that needs to be sorted out. The UK must agree how it is going to co-operate with the EU on security and law enforcement. The UK is set to leave the European Arrest Warrant scheme and will have to agree a replacement. It must also agree deals in a number of other areas where co-operation is needed. It's also important to recognize that major changes will take effect on 1 January 2021 whether or not a trade deal is agreed. Free movement of people will end and businesses trading with the EU will have to follow new rules. 📌 What are the big issues at stake here? Top of the list is a trade deal to ensure the tariff and quota-free flow of goods between the EU and UK. But the EU will only agree to zero tariffs and zero quotas if the UK pledges zero dumping – that is, not lowering social and environmental standards to outcompete the EU. Negotiators will almost certainly clash over the EU’s refusal to bring services into the trade deal, leaving the City of London reliant on a patchwork of market access agreements that can be withdrawn at any moment. Another early fight will be over fish, as the EU seeks to link goods trade to maintaining the status quo on access to British waters, a demand seen as outrageous in London. The non-trade topics sound easier, but are full of political landmines. For instance, agreeing a replacement for the European arrest warrant will require Germany to change its constitution. The UK will struggle to achieve the historic first of securing outside access to some EU crime-fighting databases. 📌 What will happen to the economy? It depends who you ask. In the short term, much of the risk seems to have been priced in, at least on currency markets, where sterling still languishes compared to where it was in June 2016. The stock market is well ahead. 📍 Sterling is still down on its pre-Brexit vote position 📍 Shares have rallied recently, partly fueled by greater Brexit certainty 📍 Investment in UK business has fallen behind other G7 countries Share your Views and comments ideas below to make things more better. Thank you
Education
by Ridethemacro
ridethepig | Selling the Footsie📌 Exchanging A quick chart update here for today's flow which is essentially intended to cast some light over No-deal Brexit motives. In all cases, losing market access is a bad idea in the short-term and particularly when done frantically. The apparently desirable opportunity to cause maximum damage from Downing Street with NDB is playing an important role in hijacking the flows into UK assets. Recommend avoiding a waste of energy and time attempting to defend portfolios with UK exposure and subsequently focusing elsewhere. Just think back to our coverage of the Pound when buyers were eaten up. This time sellers of UK exposure wish to occupy the downside in Equities to deliver complete annihilation of the economy. With 6,000 holding sellers have time to prevent the recovery and can move lower into Wednesday. The correct path of least resistance is to the downside, a break below 5,775 will leave buyers no choice but to capitulate. Thanks all for keeping the feedback coming 👍 or 👎
OANDA:UK100GBPShort
by ridethepig
1
GBP/USD: Hot or Not ?GBP/USD: hot or not ? The trend remains downward in the short/very short term. After breaking down the static support at 1.264 identified by 23.6% of the Fibonacci retracement, the next target targeted on this currency pair is the support area at 1.25. Reachable today as analysts expect a recovery of the intraday US dollar ahead of the publication of positive nonfarm payrolls. So technically, the price should go to test the support in the 1.25 area by todays closing and, should it be violated to the downside. It could mark a new period minimum in this 2019 going beyond the 1,237. Basically this hypothesis is the most likely in the short term as the strong uncertainty around Great Britain due to Brexit. A rebound at the moment is not expected. Except for even more expansive scenarios of monetary policy from the Fed. To summarize GBP/USD: hot or not ? Maybe not. We recommend a short entry on this pair. The first target is in area of 1.25. The second target is in the intermediate area at 1,244. So the final one is at 1.237.
Short
by BFCMInvest
1
Technically the gbp/usd is strongly bearishTechnically the gbp/usd is strongly bearish. It is intent on setting new period lows. The price, after having broken down the channel composed by the support ( 1.28 area ) and the resistance ( 1.32 ) has started this very short-term downtrend. In less than five sessions this led him to test the key short/medium term support. This one identified by 23.6% of the Fibonacci retracement and placed in the area around 1.264. For now there are the conditions to see a rebound of the price. The maximum extension on a very short period is on the static resistance of secondary importance set at 1.277. If it reaches this area it will be necessary to wait to see if the price can extend further. And after re-enter in that side channel previously mentioned above 1.28. If it is only a false upside-down movement that will unload all the "oversold" indicators. After it could retrace its steps and push down further, breaking the key support at 1.264 and proceeding towards the minimum of the "Brexit" referendum to date, at around 1.19. Basically the scenario that has been set up around the pound is extreme uncertainty. As it is not yet clear to date the plan that will be implemented to exit the European Union and on what date, it is very likely a further postponement. The investors, not having a clear picture of the situation, are liquidating their positions on the British currency from their portfolios. This is in favor of other majors. Yesterday the prime minister May tried to propose a new deal to the parliament. It was very close to the agreement previously rejected and, therefore, recycled. He had also put forward the hypothesis of a possible "referendum 2", but he did not obtain the approval from his own parliamentarians. So now the macroeconomic scenario is still in the making and marked by a new decline after a very technical uptrend period. Technically the gbp/usd is strongly bearish. So we recommend a long entry with the first TP in the 1,269 area. The second target on 1,273 and third at 1,277. The SL will be set below the key support in the 1,259 area. The main trend remains strongly bearish.
Short
by BFCMInvest
The price is preparing to break this lateralityThe price is preparing to break this laterality.   The situation kept the price within the channel between support at 0.846 and resistance (both static and dynamic) identified respectively by 38.2% of Fibonacci retracement and by EMA20 weekly periods. If there was a confirmation of closure above this level, the price will tend to reach the subsequent static resistance area. That is located about 0.89, and could register a very short term rally on price. If the price breaks down the support in the 0.843 area, the main downtrend would remain unchanged. Bringing this change back to below 0.80, it can reach a minimum not been touched for 3 years. The macroeconomic scenario remains in favor of a short-term uptrend. The uncertainties of the Eurozone continue to weigh on the reference currency. The monetary policies that will be adopted is favoring a devaluation of the Euro in the medium term. The Brexit situation remains unchanged and according to the main analysts will set new period minimums for gbp by June. The target area that investors aim is between 0.89 and 0.91. From here it is possible that this pair will stabilize and that therefore the descent will continue again towards the EMA200 weekly (0.855). As soon as the closure above this resistance is tested, we will recommend a long entry.
by BFCMInvest
GBP/USD: the scenario that is taking shape is very uncertainOn gbp/usd the scenario that is taking shape is very uncertain. The British government has managed to find an agreement with the European Parliament. They need an extension of the London exit from the EU at the end of October. These six months should be enough for May in order to be able to convince their parliament again to accept the agreement with Brussels. The main task is don't scare the markets with a "no-deal Brexit". Hardly those conditions already rejected twice by most members of the English parliament will be accepted. This could be the third vote without any modification of the purpose. The European Union is not prepared to retract at the moment. All this uncertainty is making the pound lateralize in this channel between 1.30 and 1.329 by February. We do not enter the market until the scenario is clearer. This is what we can see in the technical side. We see a price squeeze in the area between three key levels, the basis of compression is the dynamic support passing through 1.306. The first resistance is on a static level at 1.309. The second one on the dynamic level at 1.311. Based on a broken support or resistance the key levels will be 1,289 or 1,326.
by BFCMInvest
Deal or No-DealTalk about taking it to the wire; we've heard a lot in the press over the past many months about the prospect of a No-Deal between the UK and EU for Britain leaving the European Union. This could go either way, if Britain leaves with a deal this may mean strength in both the Euro and GBP, however a No-Deal may in the short term weaken the Pound, taking price to 0.8900 area taking a good supply of Buyers. This could be good for British exports with a weaker GBP in to the EU.
by HiltonBritCapital
FTSE100: NO DEAL BABY The technical side The price has reached the EMA200 daily, key dynamic resistance for the continuation of the trend: an upward break would bring the price directly into the upper area between 7330 and 7520 points; a rejected, however, will return it to test the 6900 points. The result of a " no deal " Brexit   In the last three sessions it seems that this second hypothesis is becoming the most plausible one: the fundamental scenario remains strongly bearish both for the English index and for the pound as for now the exit from the EU with a "No Deal", without agreement between London and Brussels, seems to be the most likely option. This will entail a series of negative consequences both at the bureaucratic and institutional level, but above all at the economic level. Our target! We remain strongly convinced that, if there were no significant changes, the target of the FTSE 100 from now to a month is the support placed at about 6700 points and in the short term will lateralize between 6700 and 6900 points. Join us for further analysis on: Instagram : www.instagram.com Telegram: t.me Facebook Page: www.facebook.com Web: www.bfcminvest.com
OANDA:UK100GBPShort
by BFCMInvest