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Mercury

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Mercury last won the day on December 4

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  1. Possible turn to the downside on Dr. Copper at the Fib 62% level. If this runs stocks could keel over.
  2. Breakout and failed retest on the 1H, looking for a next leg break higher. Nice to be away from the UK election with this pair...
  3. Before it was potential. Now it is confirmed. USD is one of the biggest broad market influencers. I wonder what other pivots a significant USD bearish phase will reveal?
  4. The Dax doesn't appear to like the Fed issuance. Maybe the SP500 doesn't like it either, or maybe the USD collapse is weighing on sentiment. Either way there is a decent chance this is a pivotal point.
  5. USD punching a lower low. Looks like the USD bear phase is on!
  6. Similar to AUDUSD and GBPUSD this pair could be set for a sustained run. A turn at the Fib 62% 1H chart, has been followed up with a short term consolidation breakout to the down side. I am finding both AUD and CAD easier to trade in advance of the UK election.
  7. Aussie has staged a mini breakout (higher high) after a retrace to the Fib50/62%. Now approaching the long term channel line, a breakout of which could open the floodgates. As with my alternative GBPUSD analysis this pair could be in for a contrarian medium to long term bull run if the USD breaks down. Wishy washy Fed could do it.
  8. Only if you vote Tory... Anything else is financial Armageddon.
  9. Looking at a period of USD strength to complete a retrace. As noted elsewhere I expect GBP and EUR to rotate lower for a while, the former until the election, the latter until support is hit, which may occur around the same time as the UK election as probably clarity on Brexit would lift the Euro as well as GBP. My call is for a Tory majority, better than May had but not off the charts. I have spoken to many Labour voters who are conflicted and the Ashworth thing bears out what I was hearing about how the Northern areas are feeling (see link below if you haven't already seen it - priceless, almost as good as Corbyn's Andrew Neil interview). In London many remainers I have spoken to are likely to prefer to get on with Brexit rather than let the Marxist/IRA sympathiser into No. 10, which Ashworth also seems to agree with them on..., and a lot also do not want another referendum for democratic sanctity reasons (i.e. they are accepting the defeat). It does rather seem that whenever BoJo makes a Gaff (and I can't believe he is the best the Brits have to offer) the Labour moderates find a way to give the Tories a leg up... https://www.bbc.co.uk/news/election-2019-50726592 A Tory majority puts Brexit to bed, other than the exact trading and political relationship with the EU, which is not nothing but at least the toy throwing will be over. The spending plans light a fire under GBP because interests rates will have to go up. This takes up to, say, 1.38 at which point we consolidate and then we see if a breakout is staged or a reversal kicks in, which will have more to do with USD and global economics at that point than the UK.
  10. šŸ¤£ Where have you been for the last 3 years?
  11. Short term retest of Fib 62% looks to have failed. IF this carries then next stop is a test of my weekly supporting trend line.
  12. Drop and rally as expected. Will it breakout strong this time?
  13. Gordon Brown tried to hold back the tides of the markets and was found out. The current crop will fall to similar hubris. They should have learned the lesson of King Canute but human nature never changes, which is why technical analysis works and swing spotting turns is a favourite occupation among the major traders of the World. As to Communist, Marxism ets etc, topical in the UK right now with Marxist IRA sympathizers seeking to be elected to the highest offices in the land, it is a form of government that on a large scale has been proven to be bad for people, good for tyrants. A lot of people forget that dictatorships rise out of not just far right politics but also far left. Both are undesirable. As Churchill said, "democracy is the worst form of government, apart from all the others." Knew a thing or two about tyranny is Churchill...
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