Weekly Currency Review: Theresa May’s Deal Rejected
Pound surges after lawmakers rejected Prime Minister Theresa May’s divorce deal
Pound surges after lawmakers rejected Prime Minister Theresa May’s divorce deal with the European Union. Market uncertainness about the deal led GBP to fall to 1.267. After Theresa May’s deal was overwhelmingly rejected, Pound surged to 1.288 and continued to rise on this mood to the key level 1.300.
I Know First successfully predicted GBP/CHF and GBP/JPY price for 3 days from 17 to 20 January 2019, with a gain of 0.42% for long GBP/CHF and 0.55% and long GBP/JPY.
[Source: finance.yahoo.com]
[Source: finance.yahoo.com]
Dollar is supported by an improvement in Wall Street
Dollar is supported by an improvement in Wall Street situation and higher US yields. The 10-year Treasury note rose over the week from 2.69% to 2.78%.
According to Reuters, Japanese central bank is expected to cut its inflation forecasts during next week’s policy rate review. This means that declining crude oil prices and global economic downturn are making it increasingly difficult for Japan to reach its 2% target rate.
That is why we could see strong gains in USD/JPY and AUD/JPY, where a 3-day short forecast from I Know First gained 0.62% for USD/JPY and 0.60% for AUD/JPY
[Source: finance.yahoo.com]
[Source: finance.yahoo.com]
USD rose into the weekend on excitement about possible trade talk progress
“USD rose into the weekend on excitement about possible trade talk progress, though there’s still a long way to go on that front,” analysts at ANZ Bank explained.
Moreover, the pair has shown a short signal on 1-hour timeframe alongside with 50 SMA crossing 200 SMA. I know first reported 0.49% of gain on NZD/USD.
[Source: Thinkorswim terminal]
The Eurozone shows weakness
As the Eurozone shows weakness, where Industrial production fell by 3.3 percent year on year in November, the German economy expanded only 1.5 percent in 2018, with a negative contribution from net trade. Sentiment indicators are showing possible recession, consequently Euro is falling and affecting main currencies.
I Know First has successfully predicted EUR/RUB with 0.43% in gains.
[Source: finance.yahoo.com]
I Know First Forecast
On the chart below, you can see I Know First Forecast for 3 days, from January 17, 2019, to January 20, 2019. It includes long and short recommendations.
How to interpret this diagram
Algorithmic traders utilise these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster. This forecast was sent to the current I Know First subscribers.
If you want to receive the most relative and up-to-date algorithmic forecasts from I Know First, please click here.
Algorithmic traders utilise these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster.
Please note-for trading decisions use the most recent forecast.
