#Gold #Nasdaq Forex can be a blooming nuisance. When GBPEUR managed to hit our 1.085, normally we’d hope for a rebound of some substance. Unfortunately, the relationship faltered slightly below target, forcing us to actually work at projecting the next phase. Assuming the politicians involved achieve their usual standard of competence, the future looks pretty vile. But really cheap for tourists coming from Europe!
We’re no longer entirely confident this pairing shall bounce convincingly, thanks to our target level breaking. Instead, weakness now below 1.083 looks like entering a fresh cycle down to an initial 1.0700. If broken, secondary calculates at 1.0337. Allegedly, the relation almost must experience some recovery at such a level, if only to generate sufficient weight for longer term drops! Make no mistake, by any standards GBPEUR is officially horrible as the longer term calculation claims a gravitational attraction is being exerted from a distant looking 0.84.
To get out of this mess, Sterling needs recover above BLUE on the chart, presently at 1.145. A miracle such as this calculates with 1.588 as an initial ambition with secondary, if bettered, up at 1.200.
In summary, it starts to appear UK Goods shall be extremely attractive as exports to Europe in the event of Brexit. Of course, whether anyone will be able to export from the start of November is the big question, if a trade arrangement remains absent. Perhaps we shall witness the situation with small boats crossing the channel from Europe, loaded with illegal migrants then returning to France loaded with illegal Scotch & Gin!
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Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
10:07:23PM |
BRENT |
60.09 |
Success | ||||||||
|
10:11:02PM |
GOLD |
1464.7 |
1450 |
1444.5 |
1436 |
1462 |
1470 |
1479 |
1492 |
1454 |
Success |
|
10:15:48PM |
FTSE |
7161.82 |
Success | ||||||||
|
10:24:28PM |
FRANCE |
5221.2 |
Success | ||||||||
|
10:28:05PM |
GERMANY |
11552.45 |
Success | ||||||||
|
10:36:24PM |
US500 |
2826.02 |
Success | ||||||||
|
10:45:14PM |
DOW |
25566 |
Success | ||||||||
|
10:48:00PM |
NASDAQ |
7367.12 |
7351 |
7245 |
7131 |
7453 |
7477 |
7517 |
7553 |
7409 |
Success |
|
10:50:05PM |
JAPAN |
20200 |
Success |