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Theresamay

Attack on tankers, game of thrones of Britain & trading ideaAccording to media reports an oil tanker turned into a fireball after a suspected torpedo attack off the coast of Iran. A second tanker was said to have been targeted by a magnetic mine in a series of explosions. Oil rushed up as we expected. However, we consider this growth an opportunity for sales at a higher price. Considering that this week oil reserves in the United States have risen to its maximum value amounted 485.47 million barrels since July 2017. In general, over the past 3 months, oil reserves in the United States have shown a weekly growth rate of 10 times. The race to be the next British prime minister stared yesterday. Conservative MPs will now take part in a series of votes to whittle the candidates down to the final two. Any candidate who fails to secure at least 17 MPs' votes will be eliminated from the contest. Further ballots will be held next week, with the two most popular MPs moving to a run-off of Tory party members. Boris Johnson topped the ballot in the first round of voting (received more than 100 votes). His closest competitors, Jeremy Hunt(Secretary of State for Foreign and Commonwealth Affairs, and Michael Gove( Secretary of State for Environment, Food and Rural Affairs), received 43 and 37 votes. As you can see, the most likely winner is Boris Johnson. His position is more than tough - Brexit at any price. So, the pressure on the pound is likely to increase. In this regard, we will focus on finding points for selling pounds. Friday will be quite a busy day in terms of macroeconomic statistics. First of all, we are talking about the data on retail sales and industrial production in the United States, as well as the University of Michigan Consumer Confidence Index. In addition, attention should be paid to similar statistics from China. If the economy shows signs of a worsening economic halt (which is very likely), the forecast from Paul Tudor Jones is at least a step closer to its implementation. In a recent interview with the investment fund founder“Tudor Investment Corporation” and one of the best investors of our time Paul Tudor Jones. Gold is his favorite pick in the next 12 to 24 months. If it hits $1,400, it will quickly move to $1,700, he said. Motivation - US rates are likely to return to zero values again, and the trade war will slow down the development of the world economy. Our trading preferences for today are as follows: we will continue to look for points for the sales of the US dollar primarily against the Japanese yen, as well as the euro, sales of oil and the Russian ruble, as well as buying of gold and sales of GBPUSD.
Short
by Trade24Fx
The last days of Theresa May, more trade wars, worst week of oilThe previous week was tough for financial markets due to the escalation of the trade war between the USA and China, which, moreover, have taken new forms like US attacks on Chinese technology companies. At the same time, the White House is not planning to stop. The tariff epidemic will spread to other countries, primarily those of them whose currencies are artificially undervalued. Recall that the undervaluing of the national currency provides a powerful competitive advantage in international trade. In general, things rapidly get worse. We noted that this confrontation may become a new reality, in which it is worth getting used to living in now. Another key event was Theresa May’s resignation. The inability to provide Brexit provoked Theresa May's resignation. She will remain in office until June 7, when her successor will change her. Most likely Boris Johnson will be. The pound, as we announced in Friday’s review, has grown due to this news. That only confirms the loyalty of our vision and recommendations. So this week we will continue to look for points for buying of the pound, including the medium-term position. The previous week was the worst for oil for the entire 2019. The reason is the exodus of investors from risky and commodity assets amid fears of a sharp slowdown in the global economy. This scenario was viewed by us as a baseline, and from the very start of the last week we recommended oil sales. So those readers who followed our advice should have made very good money. On Thursday alone, oil lost about 6%. About the upcoming week, we note that its main events, perhaps, will be the announcement of the Bank of Canada decision on the parameters of monetary policy, as well as data on US GDP for the first quarter (revised). For the rest, the trade war will remain in focus. As for today, we are waiting for a thin market and potential spikes in volatility on level ground. So you should trade carefully. Our trading positions for the week did not change much: we will look for points for buying of the euro against the US dollar, sales of oil and the Russian ruble, as well as buying of gold and the Japanese yen. In addition, we begin to buy a pound.
Long
by Trade24Fx
GBPUSD: 4hr long (122 pips) - 1hr retracement (25 pips)FX:GBPUSD FX:GBPUSD The overall trend is LONG. You may catch a 25/30 pip SHORT retracement back to the 50% / 61.8% retracement levels. Analysis: Daily: 1. 14 day downtrend seemed to have ended as price found support around support found around 1.2605. 2. Bullish pinbar formed and closed with a long wick rejecting lower prices. 3. Bullish candle now in play. 4HR: 1. Price broke daily downtrend line. 1HR: 1. Price broke below area 1 and pushed back up through the downward trend line finding support at area 1. 2. Price pushed through area 2 and back at area 1 where it found support then pushed through area 2 once more and rejecting the daily resistance. Take profit: 50% and 61.8% fib levels Re-entry (long) 50% and 61.8% fib levels after short move is completed and price action provides a signal. Other possibilities: Price may continue higher without the retracement as it was already rejected by the daily resistance. Price may be rejected by the daily resistance and break the upward trend line and continue downward. NOTE: Indicators follow price, price does not follow indicators. The indicators are to be used to give a visual of what the price is doing. Indicators are applied to the chart as a final step after technical analysis is complete. FX:GBPUSD
Long
by GOOGLExb
Art 50 extension likely...an update to CableHere we have an update to the Cable chart. The UK going back to the 1600’s as odds of another vote on PM May’s deal in the House of Commons this week are very low. For a house of “Commons” they are certainly lacking “common sense”. ... The rules are that two votes on the same motion are not permitted during the same parliamentary year. This means PM May will have to wait till July before being able to put the vote forward again. Obviously this can change if we see any changes in the majority support, however, as things stand we are on track for a no-deal Brexit from a legal perspective….The big question remains whether the EU will approve the extension. Odds of a long extension are creeping higher (67%) meaning pressure on the Brexiteers will increase massively to such an extent that they are forced to back May’s deal. Remember up until now we have been trading the conjecture leg of Brexit. The damage so far has come only from uncertainty, we have yet to experience the main impact of losing market access on the economy. Best of luck those who are positioned on either side for this result... we are going to see some fireworks!
Short
by ridethepig
Theresa May promises to step down like David CameronPound Sterling The British government and the Pound along with them seem to be totally confused on what action to take. The Pound has been in a flat and the British parliament has also been undecided on what direction they plan to take things. It has been a long and unproductive 2.5-year ordeal after the initial Brexit vote. The outcome is worrisome, Prime Minister Theresa May announced her intention to step down from the role of PM if she could get support for her Brexit proposal. It’s strange it had to come to this, the previous Prime Minister David Cameron also stepped down because of Brexit. There are many distractions to keep traders busy and no one knows what to make of the possibility of a new Prime minister. Could this solve the issue of Great Britain leaving the EU? Probably not. Will this help GB make new trade agreements with the surrounding countries, not to mention the rest of the world? Probably not. Parliament voted on the possibility of majority support for any available solution. The outcome was no majority support for anything: no deal, no second referendum, no new common market, no UK customs union or anything else. This seriously undermines stability for Sterling and the UK markets for the foreseeable future. Both the EU and GB are equally interested in a positive outcome. As long as we avoid the destructive no-deal Brexit, the Sterling will find footing for a recovery. But, if a proper trade agreement with the EU is not outlined there will be serious issues of economic stability. If British companies do not have access to trade partners as their EU counterparts have, Great Britain will be a begging nation open to anyone with half a desire to make trade agreements. Their neighbor Norway, part of the European Free Trade Association, has publicly stated that they do not want Great Britain a part of EFTA; “They are a bully” and “the benefit is just not there”. The Sterling broke through the uptrend trendline and seems to be consolidating in a triangle pattern. If price stays below 1.31114, we could have a continuation to the downside and test 1.30000.
Short
by YaroslavBirchenko
The European Union and Great Britain are looking over the cliffsIn Europe the situation is dire. The European Central Bank is giving us more and more dovish signals. Benoit Coeure and Francois Villeroy de Galhau governing members of the ECB have both stated that the slowdown in the European Union is significant and that the interest rate may need to be altered. This week members of the ECB, BoE, FOMC, BoC and RBA are giving speeches. We look forward to their guidance and a spike in volatility for their respective currencies. Prime Minister Theresa May is having a hard time convincing politicians at home. She has turned to the EU for support on her wishes in the Brexit agreement because her Ministers at home are non-compliant. The pound gapped up on Monday and then closed the gap by 10 am +3 GMT. It is once again trading above the 200-EMA on the 1hr timeframe. We remain bearish on the Pound but do not recommend entering a swing trade while price remains above the 200-EMA on the 1hr timeframe. A scalp trade is possible from above the EMA to the Fibonacci level of 38.2% at the price of 1.28685.
Short
by YaroslavBirchenko
Critical Brexit VoteHello traders, As you can clearly notice, sterling has been very volatile already ahead of Brexit vote. The pair is trading now at 1.284 down 0.17%. It is already widely expected that PM May will lose the vote tonight, the critical question here is by how much. A defeat by over 100 votes is considered a major threat to the brexit deal and will drag sterling lower. Therefore 2 scenarios exist: 1st: PM May loses by 100 votes or more ----> GBP/USD sharp decline to 1.25 and 1.20 in extension ( depends on the outcome ). 2nd: PM May loses by less than 60 votes ---> GBP/USD might trade sideways up and down ( also depends on the outcome ). I advice to stay away from this pair as very high volatility is expected as well as wide spreads. Trade safe and Good Luck
by RamziAbouAbdallah-CMT
GBP/SGD SHORTThe Great British pound vs Singapore dollar currency pair is in a massive downtrend on the higher (daily and weekly) timeframes, and it is forming a symmetrical (isometric) triangle on the lower timeframes. Now it is important to note that there is going to be a lot of noise on the pound pairs for the coming weeks due to ongoing Brexit woes, but sell orders on this pair are a much safer bet considering the lack of confidence in what Theresa May can deliver to the British people. This symmetrical triangle is a signal for selling this market since the higher timeframes show a downtrend. As always, wait for a breakout before doing anything you will regret.
Short
by munyaelliott
GBPUSD, Technically A Good Setup But Fundamentally Worrying!There is no other FX currency that is harder to trade at the moment and has been for the past months as the GBP!. To put this into perspective, the GBP is so erratic that it has become technically unpredictable to trade. These days due to ongoing brexit talks this pair and other GBP related pairs have been affected drastically. In my personal opinion any trading regarding this pair TECHNICALLY should be avoided until the BREXIT talks find a clear path. But nevertheless as i would personally avoid trading this i know some of you are still heavily trading this pair and i am just here to share my technical aspect on this pair and i hope it can provide some insight to back your claims when trading this pair. Looking at the weekly charts of this pair, the price is sitting at a crucial support of around 1.26 level and the candlesticks shows hammers forming which just adds to the list of confluence technical factors that this pair might be headed up. Furthermore looking at the charts again the price seemed to be trailed by a descending long term trendline which just lies beneath the weekly 50 EMA. The weekly 50 EMA can often act as dynamic support and resistance. The break of this trendline will provide the upside move to this pair but in my opinion in the process it should also break the weekly 50 EMA. To enter the LONG swing trade on the weekly charts, the price needs to break the 50 EMA and retest it thereby giving us a healthy risk to reward ratio. For those that wish to DAY trade the image below provides the detailed technical picture as to where the price might head As said before, this pair has provided an excellent technical picture to go LONG both on daily and weekly charts, however the fundamental factors are the driving force behind this pair at the moment. Its best to avoid trading this pair until the brexit issues are sorted out but i hope this analysis could provide valuable insight for those traders that neglect the brexit developments and trade this pair regardless.
Long
by FX618Analysis
EUR/CAD SHORTThe EUR/CAD currency pair is currently moving in an ascending channel. The price is nearing the upper channel resistance and we can expect sellers to come in and drive the price further down towards the channel support trendline. Be yea careful as there is too much noise caused by the Brexit issue along with Theresa May's cunning tactics. I would expect to enter short when the RSI shows exceedingly overbought conditions, but as always, price action is more important than anything else.
Short
by munyaelliott
FTSE 100 (UKX) Monthly Timeframe BuyThe FTSE100 index is approaching a critical 2.6 retracement level of the previous uptrend, and it could be good time to buy. However, with the Brexit news and Theresa May woes, just hold your horses for a bit. The index is still largely in a sell-off fueled by the lack of confidence surrounding the Brexit deal and seemingly the vote to be held tomorrow. The trendline shows a perfect uptrend with around 7 touches, so maybe the trend is about to end. Who knows.
TVC:UKX
by munyaelliott
GBPUSD-Weekly Market Analysis-Dec18,Wk2GBPUSD shows a persistent downtrend, however, it is well supported at the Blue Line, breaking below and closing below the blue line may hint a further downward movement. Within the Red Box is the sell zone and within the Green Box shows a sideway bounce movement. It will be a good consideration for counter-trend trader to see if their trade plan fits into the situation, if the blue line is not broken. When market open, it will not surprise me if there's an gap in this pair. In just the month of Oct, we shared a total of 2,333pips of net profit. In order not to miss another great trading ideas again, just subscribe to us at the link below: forex100academy.com
by RaynLim