Since the agreement between the European Union and the United Kingdom was reached and the trade negotiations between both parties at the end of December 2020, a key issue remained to be resolved: the financial sector.
While there is still work to be done, they achieved a new UK-EU Joint Financial Regulation Forum, allowing English financial companies to reintegrate into the European market in a post-Brexit context.
It is a Memorandum of Understanding, in which it is expected that in the short term the implementation will be established, so that the parties can discuss and determine the regulatory standards, procedures and information management. Brexit without a roadmap on this sector has led large companies to mobilize their capital to the continent. After Bloomberg released the information on the deal reached, the pound hit a two-day high of $ 1.3812 on Friday while the euro made new yearly lows.
Market projections for next week. Remember to schedule tomorrow’s session here …
EURUSD on Friday closed buy. However, it fails to exceed 1.18, our preference is buy over 1.18 under confirmation. If Monday’s open does not hold above 1.18, we expect to sell at 1.1780 to 1.1770. Below 1.1770 we return to the yearly lows up to 1.1760. The obstruction of the Suez Canal keeps much of the regional trade frozen. If the US employment data on Friday is worse than expected it could bring in massive buyers at the cross.
GBPUSD on Friday closed buy. The pound remains above 1.38 and 1.3790 in buy. The preference is to buy over 1.2820 to 1.3830 and 1.3850. Above 1.3850 we return to the 1.40 levels. We do not estimate sell strategies for this cross next week.
USDJPY closed its buy session. However, these highs keep us waiting for a sell strategy. Below 109.90 and 109.80 we expect possible sellers up to 109.50 and 109.30. We do not rule out that if the price passes the levels of 109.90 we will enter 110.0. If we have that confirmation at 110.0, we go to a buy strategy until 110.30 and 110.50.
USDCAD closed its day sell. The cross is unchanged and maintains its highs at 1.26. The preference is buy between 1.2560 and 1.2550, otherwise we will buy from 1.2580 to 1.26. We discard sell strategies at the crossover for now. Attention Friday with the American employment data.
AUDUSD closed buy. The cross remains buy, above 0.7650 we are going to buy up to 0.7680 with possible weekly highs at 0.77.
XAGUSD XAUUSD metal commodities closed unchanged for the week. The minimum prices necessary to maintain a buy strategy are 25.0 for silver and 1730.0 for gold. In silver above 25.0 we go to 25.22 and 25.30, we do not rule out a possible sale at 24.80 to 24.63. In gold we maintain a buy strategy above 1730.0 to 1739.0. We discard sell strategies above the 1725.0 and 1722.0 levels. If the week passes 1722.0 there we will change to a sell strategy.
BTC closed buy above 54,000, enough level for buys up to 55,000 with a possible extension to 55,900.