In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we analyse the markets with all eyes on Brexit plan and Oil again. In particular, we focus a little more on the fundamentals behind the British pound, with Theresa May taking her Brexit plan to her cabinet for approval. Afterward, it would need to be agreed upon by Europe towards the end of November or early December.
GBP
All of this Brexit news has the pound in a bit of a spin. After showing a few days of significant weakness, it also showed a really strong performance in yesterday’s trading. The reality of this market is such that the hint of a soft Brexit deal with Europe is likely to drive the pound higher. However, the rhetoric of a “no deal” is likely to see the pound continue much lower. Which way this market moves at this point is any ones guess.
Oil
A market which has been relentless in its pursuit lower, as we have been saying for over a month now, is Crude Oil. It is continually defying the belief that it surely should see a bounce soon. The problem is that the bounce is nowhere to be seen just yet. So, as always, we will trade what we see and not what we think and look for opportunities to sell Crude Oil below 54.72.
All Eyes on Brexit Plan and Oil Again – Full Video Analysis
Take your trading to the next level with our 14 Day, No Obligation, Free Trial. You will soon discover why we are trading’s best-kept secret. We are successfully building the world’s largest group of profitable traders and would like you to be part of it.
You can join for as little as $19.99 per month, no contract, cancel anytime. This amount can be covered with just one profitable trade with us per month, the rest is pure profit. You will benefit from unparalleled access to our professional traders, our transparent trading performance, our LiveTradeRooms and access to the most comprehensive trading education on the market. What have you got to lose? JUST CLICK HERE TO GET STARTED NOW and see how real money is made!
