GBPEUR for 21/10/2019

Brent DAX #GBPEUR feels like it should be a report at Easter! This currency pairing, for so long looking trapped in a dark cave, is actually starting to develop some recovery potentials. Perhaps Boris is doing a Mr Trump, ridiculed by media but regardless, appearing to do something right!

A key level has developed at 1.1688. This isn’t one of our usual “higher high” things but instead, a calculated level above which it ‘should’ make travel toward 1.2039 difficult to avoid. In the event of the market actually closing above this target level, a longer term 1.2869 computes as possible.

It’s worth taking a step back and viewing the chart. Historically, since 2016 this pairing has experienced issues at the 1.20 level. For this reason, we’re suggesting only closure above 1.2039 is liable to introduce the next big step in the pairings future. But it’s also worth considering if the present Brexit hiatus continues, it’s very probable the relationship will continue in a trading range between roughly 1.10 and 1.20.

For things to start going wrong, we would raise an eyebrow if the pairing now weakens below 1.140 as this threatens reversal down to an initial 1.1215. If broken, our secondary calculates at 1.0920. Visually, this shall indicate a very firm return to being trapped in its “same old, same old” trading range.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

6:46:29PM

BRENT

59.12

58.48

58.125

57.5

59.58

60

60.395

61.21

59.25

7:02:25PM

GOLD

1490.4

               

‘cess

7:23:18PM

FTSE

7147.02

               

‘cess

7:24:46PM

FRANCE

5640.2

               

‘cess

7:57:53PM

GERMANY

12670

12597

12520.5

12422

12694

12724

12754.5

12807

12594

7:59:32PM

US500

2990.42

               

‘cess

8:01:24PM

DOW

26803.7

               

Success

9:09:58PM

NASDAQ

7872.99

               

Success

9:11:47PM

JAPAN

22496

               

 

18/10/2019 FTSE Closed at 7150 points. Change of -0.45%. Total value traded through LSE was: £ 6,079,930,950 a change of -11.12%

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