Currencies:
The Dollar has seen a strong push up over the last few days, fitting in with our bias of dollar upside. We have however tested the top of a channel we are in and see a strong bearish close off it. We may see a deeper pullback here – but any pullbacks on the dollar we must treat as a reason to buy this as we are trending really nicely to the upside.
GBP is looking strong right now, and we have seen some big moves on GBPCHF, EURGBP, GBPAUD and GBPNZD. On Wednesday we saw the CPI release for GBP, which was 4.2% instead of the forecasted 3.9%. This has been a contributing factor to the push we have seen on these GBP pairs. You can find some more information on this here:
https://www.reuters.com/world/uk/british-inflation-surges-again-hits-42-2021-11-17/
Upcoming fundamental releases we have are:
Friday, November 19th
- EUR, ECB’s President Lagarde speech
- CAD, Retail Sales (MoM)(Sep)
- EUR, ECB’s President Lagarde speech
USDollar Daily
UPDATE – POTENTIAL SETUP: SILVER
Silver was a beautiful trade shared over the last few weeks. We saw a lovely tap of the 24 AOI and then made the move up! We are looking for this to continue to push up. On any pullback we are going to be looking for further upside on this – in line with our strategy. This trade is currently floating around 160 pips!
POTENTIAL SETUP: UK100 (FTSE)
We are looking for a short position on this. However, we first need to see a pullback into the AOI and then also reject it – so we must be patient and wait for price to develop. If we do get involved with this, then we will be targeting 7224.9.
Written by Aqil – Head Analyst