Sample Category Title

Pivot (invalidation): 2778.00

Our preference Long positions above 2778.00 with targets at 2803.00 & 2816.00 in extension.

Alternative scenario Below 2778.00 look for further downside with 2765.00 & 2750.00 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 11560.00

Our preference Short positions below 11560.00 with targets at 11460.00 & 11405.00 in extension.

Alternative scenario Above 11560.00 look for further upside with 11620.00 & 11650.00 as targets.

Comment As Long as 11560.00 is resistance, look for choppy price action with a bearish bias.

Pivot (invalidation): 5.4420

Our preference Long positions above 5.4420 with targets at 5.4670 & 5.4890 in extension.

Alternative scenario Below 5.4420 look for further downside with 5.4270 & 5.4100 as targets.

Comment The break above 5.4420 is a positive signal that has opened a path to 5.4670.

Pivot (invalidation): 0.7075

Our preference Short positions below 0.7075 with targets at 0.7035 & 0.7025 in extension.

Alternative scenario Above 0.7075 look for further upside with 0.7090 & 0.7100 as targets.

Comment The break below 0.7075 is a negative signal that has opened a path to 0.7035.

Pivot (invalidation): 1.3385

Our preference Short positions below 1.3385 with targets at 1.3345 & 1.3325 in extension.

Alternative scenario Above 1.3385 look for further upside with 1.3415 & 1.3440 as targets.

Comment A break below 1.3345 would trigger a drop towards 1.3325.

UK Brexit Minister Stephen Barclay said today that no Brexit is the bigger risks than no-deal Brexit for the UK. He said that "no deal is going to be very disruptive for the economy and I think no deal also has serious questions for the union". However, " no Brexit is catastrophic for our democracy. Between those very unpleasant choices, I think no Brexit is the bigger risk."

Germany's Economy Minister Peter Altmaier expressed said After divisive debates & votes, today can become a turning point." "Rejecting No-deal-Brexit by a large cross-party majority will unite millions in the UK & in Europe."

European Union's Economic Commissioner Pierre Moscovici said "we have done everything we could do." And, "it is tome now for the British to say what they want, now that they said what they don't want."

Pivot (invalidation): 1.0090

Our preference Short positions below 1.0090 with targets at 1.0055 & 1.0030 in extension.

Alternative scenario Above 1.0090 look for further upside with 1.0110 & 1.0125 as targets.

Comment As Long as 1.0090 is resistance, likely decline to 1.0055.

The UK government announce its temporary tariff regime for no-deal Brexit, designed to minimise costs to business and consumers while protecting vulnerable industries. The temporary regime would apply for up to 12 months as a full consultation and review on a permanent approach to tariffs is undertaken. Under the regime, 87% of imports to the UK by value would be eligible for tariff free access, up from current 80%. Tariffs would still apply to 13% of imports including some agricultural, dairy, auto and some other products.

Trade Policy Minister George Hollingbery said in the release that

• Our priority is securing a deal with the European Union as this will avoid disruption to our global trading relationships. However, we must prepare for all eventualities.
• If we leave without a deal, we will set the majority of our import tariffs to zero, whilst maintaining tariffs for the most sensitive industries.
• This balanced approach will help to support British jobs and avoid potential price spikes that would hit the poorest households the hardest.
• It represents a modest liberalisation of tariffs and we will be monitoring the economy closely, as well as consulting with businesses, to decide what our tariffs should be after this transitional period.

In addition, in case of no-deal Brexit, a temporary approach will be taken to "avoid new checks and controls on goods at the Northern Ireland land border". The temporary tariffs will also not apply to goods crossing from Ireland to Northern Ireland.

The tariffs will also apply equally to all other trading partners expect those who were in free trade agreement with the UK. And around 70 developing countries will benefit from preferential access to the UK markets.

Full statement here.

Pivot (invalidation): 111.45

Our preference Short positions below 111.45 with targets at 111.00 & 110.85 in extension.

Alternative scenario Above 111.45 look for further upside with 111.65 & 111.80 as targets.

Comment As Long as the resistance at 111.45 is not surpassed, the risk of the break below 111.00 remains high. Watch 1.3000.

Pivot (invalidation): 1.3150

Our preference Short positions below 1.3150 with targets at 1.3045 & 1.3000 in extension.

Alternative scenario Above 1.3150 look for further upside with 1.3200 & 1.3245 as targets.

Comment A break below 1.3045 would trigger a drop towards 1.3000.