Earlier in the week, fears were raised about the UK's exit from the EU by the end of October. On Saturday, Boris Johnson fell into the trap of opponents of Brexit, the deal was not approved, and obliged him to ask the EU for a new postponement.
A request from Britain has already been sent, but EU representatives have not yet responded. The deal has not yet been approved by the British Parliament, and sceptics are not discounting a possible second referendum.
The market reacted poorly. At the beginning of the day in the Asian session, the pair fell to 1.2873, but then resumed growth and the bulls had already attacked the resistance at 1.3000. Most are confident that the deal will still be able to drag through the British Parliament and by the end of October Britain will leave the EU.
There is no meaningful news this afternoon, so stay tuned for Brexit messages. Any news can resume the rally or cause the collapse of the Briton.
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It is possible that the EURUSD pair will continue to grow
At the beginning of the week, the EURUSD pair is in the area of highs and there is every chance of continuing the upward movement. The nearest resistance is at 1.1240.
Entry points are searched on the M5-M15, at the time of preparation of the review we are working with the local termination of 1.1150-1,1170:
- Sales are possible when the upper boundary of the zone is widened (this signal already exists) and at a true breakout level of 1.1150;
- For purchases we expect a false breakdown of support at 1.1150 or a true breakdown of the upper limit of the break-up.
During the day, it is possible to form other areas of termination, watch them yourself.
The growth of the GBPUSD pair is limited to resistance of 1.3170
As with EURUSD, the GBPUSD pair stays near last Friday's highs after the weekend. The nearest resistance is at 1.3170.
Now there has been a breakdown of the upper boundary of the termination zone 1.2883-1.2961, in the future there are two scenarios:
- 1.2961 level retest and continued growth, the first target in this case is at 1.3010;
- return to the level of 1.2961, after fixing it can be sold, placing a take-profit at 1.2883.
USDCHF pair is in strong support
At the beginning of the week, the chart of this currency pair is located directly on the lower boundary of the zone 0.9842-1.0023. In the future, it is possible both to break away from the level, and its breakdown with the continuation of the downward movement.
When working inside the day, look at the range of 0.9840-0.9862:
- Purchases are considered - at the true breakdown level of 0.9862, as well as the extension of the lower boundary of the termination zone. The first target is at 0.9890;
- Sales are possible with a false breakout of resistance of 0.9862 (first take placed at 0.9840). Another opportunity for sales - a breakdown of support 0.9840 with confirmation, profit fix when reaching the level of 0.9798.
Canadian breaks support at 1.3132, looking for sales opportunity
It seems that support at 1.3132 will not stand. On Monday we are watching its breakdown, it remains to wait for confirmation for the opening of short positions.
In the near future we are working with the range of 1.3118-1.3145:
- he most likely scenario is a 1.3118 retest. This will give an opportunity to open a short position. The main target is at 1.3017;
- if there is an impulse return to the zone 1.3118-1.3145, then if the level of 1.3118 is fixed, it will be possible to buy with a target of 1.3145.
Gold is in a state of uncertainty
Globally, nothing has changed here. The graph is in the range of 1476-1496 and more likely looks like a downward movement with the development of the main target at 1459.
I recommend looking for local terminations on the M5-M15 timeframes and working when the schedule approaches their boundaries. The last range formed between the levels 1476 and 1496, there was already an attempt to break through its lower boundary, but the entry point was not received.
Possible entry points:
- sales - a true breakdown of the level of 1476 and a false breakoff of resistance on 1496. The nearest targets are at 1476 and 1459;
- purchases - the extension of the lower boundary of the area 1476-1496 and the true breakdown of the level of 1496. The targets are 1496, 1517 and 1535.