Currency

Sterling has opened this morning with huge gains, as Italian Prime Minister was somewhat destroyed in his attempt to reform the political structure. PM Matteo Renzi has resigned following the result, leaving the Italian political infrastructure exposed and not helping the debt positions the country currently has. The now Ex Italian PM, had promised to […]

The GBP/USD ended a two-week consolidation by breaking upwards significantly, just as it was already anticipated. Price went upwards 330 pips, closing above the accumulation territory at 1.2700. GBP would rally versus some majors this week, and as it is rallying versus USD (which is also strong in its own right), further bullish movement is […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish EURUSD consolidated throughout last week – in the context of a downtrend. A closer look at the market reveals that there has been some consolidation to the upside, and there would be some bullish attempt this week. EUR would rally versus most other major […]

REWARD VERSUS MEANING Trading success does not follow a linear trajectory, success ebbs and flows with good times and bad times. If you trade for long enough you there eventually will come a time when you question the decision you have made to become a trader. It all seemed so easy initially and there was […]

Yesterday, political news dominated the scene. In the UK, Brexit secretary David Davies and Chancellor Hammond suggested that Britain may continue to make payments to the European Union budget even after Brexit in exchange for access to the single market. The comments caused the pound to strengthen against the dollar as this is the first […]

It’s US non-farm payrolls day, which always is a big event for the US dollar and even more important this time as it is the latest release before the FED meeting. The Federal Reserve is widely expected to raise interest rates in December as recent economic data have mostly been strong and supporting the case […]

Mark Carney, Bank of England Governor, has issued a warning to all UK households that the annual debt may be spinning out of control. Credit cards and other forms of unsecured debt are at their highest level for a number of years, as consumers carried on using false money for purchases. After releasing Stress Test […]

With regards to the latest Brexit scenario, pro-EU campaigners have, unsurprisingly, declined the backing of a new legal challenge regarding the Brexit outcome. Migration reform and continued access to the single market are key issues that continue to arise throughout the debate, and there are rumours that both could be kept by triggering Article 50, […]

The US dollar ended the week mixed in thin holiday-trading conditions, as traders await key economic data due this week. In terms of data, Friday saw the US Trade Deficit fall to -$62.0b in October, worse than expectation of -$59.2b, while the UK GDP in Q3 was left untouched at 0.5% qq. The main interest […]

The GBP/USD moved sideways throughout last week, resulting in a neutral bias in the near-term. The neutral bias has been going on for about two weeks, while the dominant bias on higher timeframes is bearish. A break out of the sideways movement is expected this week or next, and would most probably favor bears. EUR/USD: […]