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Showing posts from January, 2019

GBPUSD reaction after brexit vote

Theresa May's plan has been rejected by a historical vote which was a record , 432 rejected the deal against 202 MPs. She admitted the loss , but apparently , she is not resigning . She has the delusion that she is defending the brexit vote . A second referendum is imminent or we may be blocked by a no-deal brexit which no one wants. May hasd spent months negotiating with the EU , that rejected deal and now there is a movement led by jeremy corbyn to oust her using the no-confidence vote. GBP/USD , however is still holding around the 1.28$ figure , it fell sharply before the announcement of the vote results but soon , it reversed sharply reaching 1.2890$ area. Now the pair is trading around 1.2850$ with next and critical support at 1.2820$ marked by the orange horizontal line. Buy anywhere near that area and hold. The pair is still volatile though and you should be careful and quit in case we close any 1 hour below that area around 1.2820$. 

Usdjpy technical analysis

Usdjpy fell from 110.20¥ to the low of the day 104.50¥ , the pair is currently trading at 107.50¥ Look at below chart. What will you see is a rising trendline on the weekly time frame. If we close below that Line , the pair will be having more amounted pressure and it may fall to below 100¥ mark within short period... That level (104.50¥) is critical support for the pair and the last line of defense. A break below will start a new bearish trend for the pair which might send it back to 80¥ area again, level not seen since 2013. If the pair finds support , we will have first resistance at 109.60¥ followed by 112.40¥ 

Eur/usd technical analysis

Eur/usd tumbled to 1.1340$ from 1.1470$ , that proves there is alot of pressure on the euro during the first week in the new year. Euro as I predicted before will continue the slide to 1.1120$ , and maybe 1.0960$ . Shorting the pair at current level 1.1340$ with stop loss on any 4h close above 1.1380$ . Your first target should be 1.1120$ , RSI is nearing the oversold levels. And the pair might hold for a while before resuming its slide.

Wti rally 3$

Wti rallied almost 8% in the last 2 hours reversing from daily low at 44.60$ to 47.50$ area. According to below chart, the gap down has been closed and it is currently trading shy above 200 MOVING Average. And on RSI , it is testing the 70 mark which is near overbought level , the rally may fade soon and we keep trading waters between 46 and 47$ for a while.