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Double-digit inflation for the UKEUR/USD ▶️ GBP/USD 🔽 AUD/USD 🔽  USD/CAD 🔼  XAU 🔽  WTI 🔼 As the Governor of the Bank of England warned months prior, the UK CPI has recorded a 10.1 increase, compared to the market estimate of 9.8%. Such a high reading is not seen for four decades, and the British central bank is likely to bring more rate hikes to tame the raging inflation, possibly slowing the economy in the process. As a result, GBP/USD declined and stabilized at 1.2047. Though the Fed meeting minutes are fairly dovish, the subsequent lower CPI data continues to increase bets for another 50 or 75 bps bump in the interest rate. The greenback rallied against its peers, USD/CAD rose to 1.2909, moving further toward the 1.3000 level. Meanwhile, EUR/USD was little changed at 1.018, Eurozone CPI for July will be announced this afternoon. The Aussie suffered from falling iron prices and slid to a closing price of 0.6932, as the latest employment change results showed more than 400,000 people in Australia are no longer employed in a supposedly compact labor market. Gold futures broke through 1,780 to 1,776.7 with minor fluctuations, extending its weakened run. US Crude Oil Inventories were reduced by over 7 million barrels, and a tightened supply moved WTI oil futures slightly higher to $88.11 a barrel, after meeting resistance at $88.00. More information on Mitrade website.
by Mitrade_official
Brent Crude Oil 1-day classic patternsQ: What has the highest probability of occurring? Since February 2021 price has been stabilising on $65 per barrel. There is a combination of 2 classic patterns forming at 65.00 support. The inverse head & shoulders, which is in the process of forming the right shoulder, is currently invalid. This pattern projects 85.25 as the target. The double bottom, having recently tested and rejected 65.00, would need to breakout from 76.50 to be validated. This pattern projects 52.00 as the target. Objectively looking at 65.00 support the two high volume bars appear to be putting the weight in favour of the formation of the double bottom following the ~15% correction. Since the double bottom is not validated so the current position is neutral with a bias in favour of the uptrend continuing. It is worth paying attention to the high of the left shoulder at ~72.00 and how the bulls and bears interact as validation of the double bottom is required at 76.50
OANDA:BCOUSD
by xciiitradingco
UK COVID-19 Next Wave Projection Update IIFrom the previous post on 14 May, I was doing a friend a favour into looking at the UK projection as she is living in London. I said "... and projection made that the start of a spike is at the end of June, into July . IF this projection is on point, then outnbreak news should be seen in the latter part of July ." It is the beginning of July, and it appears that the AMCD histograms trended up as expected, and is about to break out into a major spike given the weekly chart is about to crossover into the bullish territory. The daily chart is clearly showing the spike in force... go see it. So there you have it, yet again, this MACD model is projecting very well the onset of spikes. IF the powers that be, could appreciate this heuristical statistics, we might be able to intervene appropriately. In any case... the weekly MACD is about to cross up, which is seriously bad news!
C
by Auguraltrader
GBPUSD: Teases monthly support line amid Brexit, covid doldrumsGBPUSD pays a little heed to the price-negative catalysts during early Monday. In doing so, the cable ignores confirmation of a four-week delay in the UK’s unlock as well as an anticipated bumpy road for the next round of Brexit talks as EU policymakers pushed Britain to respect previously agreed deal over the Northern Ireland (NI) protocol. The corrective pullback seems technical as a monthly ascending support line tests the pair sellers around 1.4085. Even if the sterling bears dominate past-1.4085, 1.4010-4000 area comprising 50-day SMA, May 13 low and April’s top will be the key to watch. Meanwhile, further upside could aim for 1.4180 immediate hurdle ahead of challenging the 1.4200 crucial resistance. It’s worth noting that a daily closing beyond 1.4200 needs a daily close beyond the latest top surrounding 1.4265 to aim for the 1.4300 and the 1.4370 numbers to the north. Overall, GBP/USD remains firm but a pullback can’t be ruled out.
Long
by MTradingGlobal
UK COVID-19 Next Wave ProjectionI was just having a conversation with a Singaporean good friend who lives in London, and called this afternoon upon learning about the (earlier expected) stricter measures that was just announced this afternoon. We were exchanging views on how the countries differ in the management of the pandemic, and the consequent success and failures. Then mentioned that UK may be next... and I offered to use the same MACD system to project for the UK from the current known status. In the chart above, the MACD corroborates that the situation in the UK had somewhat stabilized over the last two months after their Easter lockdown. Thing is, there appears to be a levelling off, and the arc drawn is projecting how it might turn out over the next weeks... and projection made that the start of a spike is at the end of June, into July. IF this projection is on point, then outnbreak news should be seen in the latter part of July. Let's test this system again! Meanwhile... do take care, stay safe, stay healthy, especially if you are in the UK.
C
by Auguraltrader
Are the markets losing faith on FTSE?The situation looks very dismal for FTSE100 as since June's High, the index has been trading within a Channel Down that has already lost almost 50% of the post March gains. Additionally, the MACD on the 1W chart just made a Bearish Cross. The whole sequence from start (Death Cross) until now, loos very similar to the 2008/2009 credit crunch. Have the markets lost all faith on the UK100 in order to push it to the 1.236 Fib as in 2009? ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> TradingView --------------------------------------------------------------------------------------------------------
OANDA:UK100GBPShort
by TradingShot
2
Pound sells off on Brexit woesThe pound is down 2% against the U.S dollar in the past couple of days, on growing prospects that the United Kingdom will leave the European Union without a trade agreement. Brexit talks are set to continue this week, with UK’s Prime Minister Boris Johnson playing hardball with European Officials. He has imposed a October 15 deadline, to which he plans to quit Brexit talks if no deal is reached. The pounds have mostly forgotten Brexit, with the Coronavirus pandemic guiding everyone’s attention away from the non-completion of Brexit. Seema Shah, Portfolio manager at Principal Global Investors, stated that headlines over the weekend were a “timely reminder that, while the markets have been distracted by the UK’s struggle to rejuvenate the economy, Brexit negotiations have quietly been going nowhere.” The main issues include competition, fisheries, and solving disputes. UK government undermining Brexit, pushing pound lower Further downwards pressure came from the revelation of the UK government is planning to release legislation that would override critical parts of the withdrawal agreement – notably the deal that would undermine the agreement that Boris Johnson signed last year to avoid a return to a hard border. The pound has been rallying since its March lows, up 14.13%. However, it has underperformed compared to its peers. For example, the Australian dollar has rallied 31% since its March lows. The main issue for the pound comes from its appreciation, not discounting Brexit talks. As headlines start to creep up about Brexit near Boris’ October 15 date, the pound’s volatility will increase. Petr Krapta, a currency strategist at ING bank, stated that “the Brexit head is back on and sterling is, in our view, unprepared.” This comes at a time when the UK’s grip on the Coronavirus continues to slip, with daily cases spiking, recording the highest number of daily Coronavirus cases since May.
by BlackBull_Markets
$ADAP can rise in the next daysContextual immersion trading strategy idea. Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, focuses on providing novel cell therapies primarily to patients with solid tumors in the United States. Friday morning the company presented positive data on its experimental cell therapy, which is designed to treat a range of cancers. It causes a rise in the share price. I see some preconditions the share price will continue growing. The demand for shares of the company still looks higher than the supply. These and other conditions can cause a rise in the share price in the next days. So I opened a long position from $11,85; stop-loss — $11,18. Information about take-profits will be later. Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy. If you like my content, you can subscribe to the news and receive my fresh ideas. Thanks for being with me!
NASDAQ:ADAPLong
by KozakHlib