Switzerland National Bank officially announced the intervention in the FX market to stop the Swiss Franc depreciation, which confirms a regime change for the SNB. and their Hawkish monetary policy will strengthen the CHF and aim for a lower inflation, meanwhile the Bank of England hiked the rates slowly and with hesitations despite a very high inflation which...
In this video we look into DXY structure and how this is so exciting for a few USD pairs. Generally across the board on the HTF we are seeing lots of corrective patterns completing their moves. These are nearly always followed by large impulsive movements in the market which are fantastic to capitalise on. USDJPY and GBPUSD see some clear impulsive phases...
EURGBP H4 - Managed to bounce nicely from our indicated support yesterday, a nice break in lower timeframe trend, looking for a retest of that same support price which could result in an attractive H4 double bottom to position long from. Trading up towards that 0.87800 resistance price.
- Key points: 1- The fall statement came in the context of weak economic growth, high inflation rates and high interest rates. The Office of the Balance Sheet projected that the UK would be in recession from the third quarter which would last for just over a year until the third quarter of 2023, with GDP falling 2.1% ...
Finally unveiled, the UK government's Autumn Budget was conservative and cautious, in line with market expectations. A fiscal consolidation of £55 billion has been announced, to be split evenly between more taxes and lower spending. From the next year until 2028, windfall taxes on oil and gas companies will increase from 25% to 35%, while the Energy Price...
GBPJPY Intraday - We look to Sell at 167.15 (stop at 168.30) We are trading at overbought extremes. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. Preferred trade is to sell into...
The Bank of England delivered a 75bps rate hike last week but also signaled warnings of a deep recession and that rates may have peaked. This brought broad base weakness to the GBPUSD with the price testing a low of 1.1150. Toward the end of the week, weakness in the DXY brought a brief respite to the GBPUSD, with the price trading higher towards 1.1365. Look...
The British pound is showing strong volatility in the wake of Prime Minister's Truss resignation. Truss resigned on Thursday after just 44 days in office, and the pound jumped as much as 1% before paring most of the gains. The reality of the political maelstrom engulfing the UK has set in and GBP/USD has plunged 1.1% today. The currency has touched a low of...
GBP/USD has edged lower today, after starting the week with sharp gains. In the North American session, GBP/USD is trading at 1.1334, down 0.18%. The pound continues to show strong volatility as the political saga continues in the UK. Truss finally stopped blaming the markets and "global headwinds" for the decline of the British pound and UK gilts on Monday,...
Good Evening, Despite of the meetings the European Central Bank did and especially Bank of England in which it raised the inflation recently, we need to talk in technical analysis language and in an easy simplified language in which traders out there can claim what's going on. So here are the key points: - There is bearish order block set in 0.87081 level which...
GBPUSD Intraday - We look to Sell at 1.1485 (stop at 1.1580) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes. A Doji style candle has been posted from the high. A lower correction is expected. Previous resistance located at 1.1495. Preferred trade is to sell into...
EURGBP I ntraday - We look to Buy at 0.8750 (stop at 0.8685) We are trading at overbought extremes. A lower correction is expected. The bias is still for higher levels and we look for any dips to be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 0.8935 and 0.8960...
Summary. See video link below. Finance Minister to speak in Parliament today. May cause the Pound to Rally, or fall further Bank of England is currently intervening by purchasing 5 Billion Pounds of Guilts, which they have double to 10 Billion per day for this week. UK is releasing GDP numbers tomorrow, this will cause significant volatility. Overall I am short...
In terms of the global macroeconomic picture, the past two weeks have been nothing short of a firestorm. Last week, the UK government announced plans for unfunded tax cuts and additional government borrowing in the ‘mini budget’. This caused a drastic reduction in market confidence. Consequently the Pound crashed to under $1.04, historically low levels against the...
GBPCHF Intraday - We look to Sell at 1.0718 (stop at 1.0813) We look to sell rallies. There is scope for mild buying at the open but gains should be limited. The immediate bias is skewed to the upside but, with this move assessed as being corrective, we would prefer to sell into the rally. The medium term bias remains bearish. Our profit targets will be...
EUR/USD ▶️ GBP/USD 🔽 AUD/USD 🔽 USD/JPY 🔽 USD/CAD 🔼 XAU 🔽 WTI ▶️ After the Federal Reserve's decision to increase the interest rate by 75 bps, the expected 50 bps rate hike from the Bank of England seemed tame in comparison. The UK fell on hard times as economic issues and the passing of its long-reigning monarch presented great challenges to the new Prime...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 XAU 🔽 WTI 🔽 The dollar renewed its strength against other major currencies, as the Federal Reserve interest rate decision edges closer. The market expects a 75 to 100 bps rate hike, while the Bank of England also had a projected 75 bps interest rate increase - a high in over three decades. Thus, EUR/USD slumped below...
As the British Pound approaches a major support level of 1.4000, we think it is akin to peering over the edge of a cliff. With one of the worst headline inflation rates in the developed markets, crippling energy bills, and a newly elected government, the Bank of England (BOE) is in a place few would want to be in. As the next policy meeting date nears, the...