Trading plan for 01/24/2019

British parliamentarians presented a surprise once again, which turned into a confident growth of the pound, which pulled along the single European currency. The fact is that yesterday it became known about the possible legislative ban of Brexit without a deal with the European Union. In other words, if the British Parliament does not accept an agreement with Europe, the output is delayed until they are offered a more interesting version of the agreement. Of course, this raises many questions to the extent that Europe itself can exclude Great Britain from the European Union within the framework of existing legislation and based on a procedure that has long been launched. And what can I say, if the British Parliament decides to adopt such an amendment to the law, it is more like a blackmail like give us an agreement that will suit us.


Today, all the attention are on the results of the meeting of the European Central Bank Board Committee and the subsequent press conference of Mario Draghi. In fact, investors expect that they will be called terms of raising the refinancing rate, but most likely, they will be disappointed. Given the recent decline in inflation, the ECB will remain cautious and Mario Draghi will confine himself to assurances that in late spring the regulator will begin to discuss this issue. This will have a negative impact on both the single European currency and the pound.

The euro/dollar currency pair continues to show low volatility but still maintaining a common downward sentiment. It is likely to assume that the bearish interest will continue where a local minimum of 1.1336 stands before the quotation, where the price will be directed.


The pound/dollar currency pair draws out pulse candles, reaching a value of 1.3093 and overcoming a number of important levels. It is likely to assume that a rollback to the psychological level of 1.3000 is possible at the current situation.


The material has been provided by InstaForex Company -