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Market Blast Video - 12.02.2019


Since 25 January we have seen weakness in the Pound and we are at key levels on almost every pair so let’s watch for breaks below or above in the case of the Euro.

Fundamentally, if the Theresa May cannot make any progress with Brexit we could see Sterling heading for the next levels.As well, we have UK economic news everyday this week.  Monday’s news showed the UK economy slowing so watch out!

12 feb 2019

Since the beginning of the month we see crude in a downtrend with price action just bouncing off this upper trend line but watch out for US Crude Inventory figures on Wednesday.

As well, this downtrend may have more to do with the strength of the USD which has increased in value since the Fed called for two rate rises in 2019.

Analysts are predicting the opposite for other major central banks which will see price action in the same direction over 2019.

As usual, watch your key levels as we are near support on EURUSD and NZDUSD and we see a familiar consolidation pattern, the pennant on USDCAD.

The global stock indices are seeing gains, breaking out of trend channels, and heading back to their 200 day moving averages.

News on the pending US shutdown and US/China trade will affect price action here.

Also, further GBP weakness could see the FTSE heading back above the 200 day moving average.

Gold may be ending its bull run with this global good news and we can see that we are at a key level from one year ago.

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