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Market Blast Video - 29.01.2019

   

All eyes will be on Cable and the Pound crosses today as the UK Parliament votes again on the latest Brexit deal. The current trend is in favour of GBP but watch for volatility.

Gold has broken above a key psychological level of $1300 and we have a few key technical levels from one year ago.

 

Of course gold is being affected by political uncertainty in the US, UK and France, various trade disputes and turmoil in Venezuela among others.

Yesterday’s declines in the Global Stock Indices did not help but keep an eye on these double tops on the NASDAQ, S&P and Nikkei and watch for breakouts below support or a return to resistance.

Speaking of double tops, Crude Oil has been consolidating between $52 and $54 so let’s watch for breakouts and watch the news on Venezuela, OPEC production and inventory levels.

Looking at the US Majors we have seen some slight dollar weakness over the last few days and we may have some opportunities this week with US Consumer Confidence, an FOMC interest rate decision and press conference, and of course, the first Friday of the month bringing us the Non-Farm Payrolls

 

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