GBP-Don’t try and catch a falling knife

The Pound is tacking another pounding (sorry couldn’t help  it) with the GBP/USD falling below crucial support at 1.29. The European Commission is expected to take legal action against the UK after approval of a law that violates the Brexit Withdrawal Agreement. They are at loggerheads about State aid with Britain unwilling to accept Brussels […]

Presidential debate lights up the markets

Nothing like a good old debate to get the markets going. Today we say the a battle for power in the US presidential debate and the markets are mixed on the result. firstly we see the S&P 500 futures drop by 350 points, eliminating any gains it had made after Trump mentioned the November 3 […]

Mixed announcements bring dollar down

Higher Jobless Claims in the US overshadowed any increased hope of the Democrat in the US House of Reps $2.2 trillion coronavirus relief being voted in. The US Federal Reserve also came out with mixed messages on inflation and employment which had the markets spinning.   After a tough run this week the AUD/US has […]

EUR/USD struggles amid mixed German PMIs

Euro is struggling to break support set at 1.1700 after German PMI reports came in mixed. With the dollar continuing it’s run up we can see the sellers taking out 1.1700 and beyond. With Powell due to speak and PMI prints are due keep an eye out for further entrancement to 1.1500. #German #PMIs #PMI #EURUSD […]

European Head Sparks Brexit Positivity

The new European Head Pascal Donohoe has excited traders although the ongoing tension between the EU and the UK worsens. Stating that all that needs to happen is for “Britain to respect existing agreements like withdrawal agreement”. But how has this affected the pound? Although we saw a bounce from its seven week lows, the […]

ECB Does The Expected

You didn’t need a chart that told the future to guess what would happen when the European Central Bank made the interest rate decision today. As expected the ECB left all interest rates unchanged including the main refinancing operations at 0,00%, the marginal lending facility at 0.25% and the deposit facility at -0.50%.   But […]

Tesla crashes. Aussie/China tension.

Not one to deter from the topic at hand, however today I can’t continue without first talking about Tesla. Seeing its biggest intraday drop since it went public, dropping a solid 21.06% bringing the total loss to 34% for September. This is a head on collision for the electric car and battery manufacturer. Just so […]

No Deal Brexit Causing Havoc

The AUD started the week off like a roller coaster, with sharp drop and steep climbs. But where to from here? With is current momentum to the upside we can expect the Aussie to sprint to 0.7300 but this coaster cart needs more wind at it’s back to go much further than that. Support at […]

EUR/USD Breaks the 1.20 Ceiling

The Euro rallies due to dollar weakness and breaks the psychological barrier of 1.20.  After the Federal Reserves dovish shift earlier this week, we have seen the dollar free-fall and other currencies rally. But none have rallied much like the most liquid pair, hitting level we haven’t seen since May 2018.   Although the sellers […]

The Bulls take the reins

The dollar weakens to to the Feds shift allowing for a rally in the EUR/USD. Currently hovering around 1.1933 it’s eyeing some resistance at 1.1965 with support seen at 1.1880.   But there is a busy week ahead. Non Farm Payroll week and with the Federal Reserve’s will wait and see how employment number and […]