WHAT’S HAPPENING IN THE FOREX MARKET?
It has majorly been a consolidated/ranging market this week with the Greenback looking clueless as to it’s next direction. This has reflected on most of the major currency pairs displaying sideways market since Monday.
The BREXIT talks still at a deadlock with 3 key issues yet to be finalized ie Fishing, Labour level playing & State aid. As a result, the Pounds is seen taking a beating from today’s Market open.
Ursula Von der Leyen & Boris Johnson agreed over dinner that by Sunday (13th Dec, 2020) a firm decision should be taken with respect to the future of the talks.
A few breakouts to fakeouts seen on a few of the majors and best to have much clearer direction before jumping.
Watching a possible pullback to $18,800 on the Bitcoin crypto for a possible short opportunity assuming Price Action (PA) comes correct at the flipzone area of interest.
As usual, ensure proper Risk Mgt is implemented and Stop Loss is used to prevent major loss of capital.