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Cable headed south and lowered on Friday. BoE and Brexit headlines could not help the decline on GBPUSD.
Before short-term trading strategy, I would like to remind our midterm prediction. The main trend is still bullish and 1.3671 is the first target of the GBPUSD.
Daily Indicators are still bullish. Price is above EMA 100 and EMA 50.
Short term :
WTI Crude Oil Non-Commercial Speculator Positions:
Large energy speculators continued to increase their record high net bullish positions in the WTI Crude Oil futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
WTI Crude Oil Commercial Positions
The NFP report released on Friday showed that the US economy added 228,000 new jobs in November, above expected, but also that the previous month’s figure suffered a downward revision, from 261K t0 244K. The unemployment rate unchanged at 4.1%, while wages grew above previous, but below expected. MoM, average hourly earnings surged by 0.2%, and by 2.5% from a...
Ahead of FED Announcement on Dec 13th, NFP will be released on Friday.
Market sentiment is mixed. FED is largely expected to raise rates for the third time this year. The key factor will be the tone toward further rate hikes, as chances of getting another three hikes in 2018 have been steadily decreasing.
Our prediction is EURUSD will be priced between 1.17500...
CHART TIMEFRAME: H4
TREND ON THE CHART TIMEFRAME: BEARISH
FACTS AND PATTERNS:
EURCHF is approaching support zone. 1.16000 – 1.15800 is the strong support area.
A bullish shark pattern completion at 1.15820.
POSSIBLE “PREDICTED” PRICE ACTION: Move back from support and a retracement towards 1.16400 and 1.16700 Fibonacci Levels.
EURCHF TRADE IDEA:...
EURUSD Forecast and Technical Analysis Week of Nov 27th
Triggered by the FOMC Minutes, promising Eurozone Data and finally U.S. Markit Service and Manufacturing PMI which were below the market’s expectations; EURUSD ended week 1.19290.
Thursday’s minutes from the latest ECB policy meeting have prolonged this lead, revealing that policymakers broadly agree on the...
Crude Oil Forecast And Technical Analysis Nov 22nd
Latest News And Fundamentals:
Oil prices climbed on Wednesday after a reported fall in U.S. crude inventories and on expectations that an OPEC-led production cut aimed at tightening the market will be extended beyond next March.
It is obvious that Crude Oil Market is being supported by an effort led by the...
GBPUSD Forecast: Danger below 1.31700
GBPUSD lost 1.4%, the most in five months in response to the widely expected rate hike. The comments around the hike seemed particularly dovish.
With the GBPUSD testing the key support level of $1.3040, the market took a Friday breather after the US labour market report saw less than expected number of new jobs created in...