eXcentral - Fundamentals for 2021!

good afternoon ladies and gentlemen my name is mikhali seftimer and i'd like to welcome everybody to today's webinar here at accenture today's webinar we're going to be looking at events which are currently happening at the moment but at the same time we're going to be looking more at over the next 12 months we're going to be looking at things like yes this have an effect on the market today and something which you can keep into consideration when you are trading on a day-to-day basis but we're going to be speaking about aspects elements of the market which have a more longer term effect so it's not uh aspects of the market which are for example gonna happen we're gonna see some movement for one hour two hours a day a couple of days we're going to be looking at more longer term effects to the market now here during the webinar you've got two options if you do wish to answer and ask her any questions you can either ask the question through the go to webinar software in which i will answer the question live on the actual webinar itself alternatively if you're not comfortable asking the question live on the webinar by all means you're more than welcome to send me an email address this is my email address here the email address is pretty much on all of the slides and of course i will get back to you with all the information which you have requested so the webinar is going to be split up as normal uh into two three sections first of all we're gonna do a quick introduction to myself so everybody knows who i am and how i can assist and of course a quick introduction to the financial trading markets in general so the first section is going to be more important for traders which haven't previously watched one of our webinars or has very recently entered into the uh world of trading should we say uh but then of course then we're going to start looking at different aspects of the next 12 months so we're going to be looking at covered 19 for example we're going to be looking at inflation interest rates employment statistics which have long-term effects on exchange rates so a very quick introduction to myself my name for those of you who do not know is michalis demio and i'm the market analyst here at accenture now as a market analyst i can assist you with anything which is to do with the financial trader market so if you forgotten your password or your username or something like this i'm not the best person to speak to but if it's to do with the actual market itself strategies techniques trading plans risk management exposure anything to do with the market then of course you're more than welcome to get into contact with me and of course will try my best to assist you now a bit about my background i originally started off as a financial advisor in the uk that's going back about four years ago and now since then i've worked with a couple of academies actually set up two academies uh around the world at the moment setting up my third all these academies are based around education and mainly education around the financial trading markets i've been trading for eight years uh eight and a half years now mainly in forex and stocks at times in commodities as well and for those of you of course who want another licensed side of thing which is so important i do hold the cmap license which is uk based license and the cysek advanced as well so hopefully that'll give you a bit of information within regards to myself again anything to do with trading strategies if you need strategies if you need techniques if you need the second view within regards to what is happening in the market at the moment please feel free to get into contact with me at any time now investment risk it's important for everybody who's watching today's webinar to understand that here at central we are dealing of course with investments now where we are dealing with investments of course there is a risk to the capital that you are investing it's the same thing with all investments if you're making an investment there's a risk to the capital you're investing so make sure you read this information make sure you understand it and make sure you're comfortable with it before proceeding to a full investment and this information is very easily accessible it is on every single page on our website last thing before we actually get started with today's subject the content in this video is for informational purposes only do not constitute investment advice accenture assumes no responsibility for any potential errors inaccuracies or missions in this material nothing in this communication contains or should be considered as containing an investment advice or an investment recommendation or the solicitation for the purposes of purchase or sale of any financial instrument any views or opinions presented within this material are certainly those of the author and do not necessarily represent those of accenture unless otherwise specifically stated on today's video so what i'm trying to say as part of this slide is that here at accenture we're not financial advisors we're not here to give you financial advice or opinions or recommendations the educational videos specifically are here not to give you advice but to give you educational material and for informative purposes for educational purposes how you wish to take that information to use it when to use it etc is completely down to you as a trader so let's get started off the main thing i want to speak about is technical and fundamental analysis why because it's one of the most asked questions that i tend to get by email today we're going to be concentrating more on fundamental analysis why because fundamental analysis is more long-term it's not so much uh short-term whereas technical analysis mainly is looked at from the short to medium term but it's important for everybody to understand both and to be able to differentiate between what is technical analysis and what is fundamental analysis so let's get through this very quickly because it's not today's main subject but it's something that i want everybody to be aware of technical analysis is when traders are analyzing price movement on the charts so what is technical analysis technical analysis is when we're analyzing the price we're analyzing the price movement we're looking at patterns in the price we're looking at charts different time frames on the charts and we're using this type of analysis to try and predetermine how the market is going to move going forward so for example we see a trend form and we're analyzing that trend to determine is that trend going to continue or has it become overvalued has it a value and it's going to quickly end the collapse a very basic example so the philosophy behind technical analysis is that traders can look at historic price pattern patterns when i say historic that doesn't necessarily mean from 10 20 30 50 years ago historic could be one to five minutes ago and determine the current price the current trading conditions and future price movement so for example a lot of people have heard the history repeats itself a bind the dip so even if you're a trader who has never traded before pretty much a lot of trade a lot of individuals have heard before buying the dip so stock may have dipped in price because it's dipped in price they're trying to buy low to sell higher that is a very basic household strategy that is technical analysis because it's the analysis of the price that the price has dipped uh that's just a very basic example of course when we're looking at our educational webinars it is a lot more in depth than very simply buying uh the dip today we're not going to be looking so much a technical analysis because like i said technical is more short to medium term what we want to look at is fundamental analysis now sometimes fundamental analysis can be a lot harder to understand people feel that they need to have a degree to understand the economics and the data and the statistics behind fundamental analysis but do not worry ladies and gentlemen the way i've said it out throughout the webinar is very very basic i've set it to a very basic standard but at the same time information and in a way which you can use as part of your analysis i've got a couple of questions uh so i'll answer those now before we get started looking throughout this chart uh this slide i've got an individual who's asking uh are we gonna look at to our price uh at a price analysis today or just fundamentals at the end of the webinar i do have some charts from today so i know a lot of people like to look at these charts together so do not worry at the end of the webinar we will look at those uh together that's for sure so don't worry we will look at also price analysis then i've got another question can we also get a copy of the presentation at the end of the webinar within the next 24 hours you will get an email from me with a link which takes you directly to the recording so if you missed part of the webinar because i can see about 10 people i've ever logged in in the last couple of minutes uh if you've missed part of it so you've watched all of it and just want to re-watch it you can do so via the recording link and that you will receive in the next 24 hours so don't worry that will be sent to you automatically so moving on fundamental analysis this is mainly what we're going to be looking at today so fundamental analysis is the econ the analysis of economical data news and events surrounding a currency or commodity of stock of course different people are trading different assets some people are only trading currencies some people under stocks fundamental analysis and technical analysis can be applied to whatever assets it is that you are trading now this type of analysis designed to predetermine how the market is likely to move going forward like technical analysis but it's not the analysis of the charts or the price in any way shape or form it is the analysis of economical data of news which is coming up within regards to that economy or that industry or that company because don't forget we could be looking at a stock or commodity and it's the analysis of that information and being able to understand how that information is going to affect the supply and the demand because of course the supply and demand is what's gonna create the price movement the more people buying into something into a stock the more the price is likely to go up the more people which are selling out of the stock and they're trying to get rid of it for whatever fundamental reason the more the price is likely to collapse which is what creates uh for example stock market crashes we've seen two stock market crashes this year already this information can have an effect on supply and demand like we said the type of asset is likely going to affect the type of fundamentals which traders are going to be looking at so for example the information you're going to be looking at for a company because you're trading stock is going to be different for the information you're going to be analyzing if you are trading a currency for example so if we've got uh individuals trading let's say adidas stock which is one of the most popular stocks uh on our platform if not the most popular at the moment and then they're going to be looking at for example turnover sales new products reviews they're going to be looking at this type of information in order to understand how the price is likely going to move going forward if you're looking to trade the u.s dollar which is probably the most which is definitely sorry the most traded asset worldwide then of course you're not going to be looking at adidas and what's happening to adidas and net products you're going to be looking at of course the federal reserve you're going to be looking at politics what's happening with the elections with foreign policy you're going to be looking at economic statistics very very important like interest rates employment inflation a lot of what i'm saying does not make sense i understand already but into the webinar it will today what we're going to be looking at is mainly fundamental analysis what's important to understand at the moment is that we've looked at technical analysis and fundamental analysis very very briefly very briefly what i want you to get from those two slides is that number one it is very important to uh analyze the market both in terms of technicals and also fundamentals it's not enough to solely be doing fundamental analysis and it's not enough to slowly be doing technical analysis the more information you have the more signals the more indications the better it is for you as a trade because information is power so of course it is a very good idea to analyze the market both in terms of fundamentals and technical analysis of course each individual is different some people do not want to do technical analysis some people don't want to do fundamentals of course it falls down to you as a trader the trades and your investments is always in your control as a trader so the first thing we're going to be looking at and a lot of the webinars going to be based around is the usa and the us dollar why because it is by far the most traded assets in the world that most people that are trading on that platform a largely large percentage of their investments and trades are involved in the us dollar at least correlated in some way with the u.s dollar so a lot of the webinars can be based around the usd uh but of course we will look at the british pound because there's a lot of interesting movements happening at the moment with the british pound and in terms of the fundamentals in the uk so as with most countries and most currencies the value of that currency is determined massively correlated with three figures free statistics most of your fundamentals is going to be heavily based around these three figures the main figures the main these main announcements are number one interest rates employment and also inflation so the price of the asset you are trading whether it's the us the euro usd the british pound usd usd jpy doesn't matter it's going to be massively massively driven by these three figures this is why it's so important to be looking at what's been announced over the past 12 months and also what is likely going to be announced over the next 12 months and of course this is what we're going to be looking at today slide by slide in more detail now the other interesting fact is that these three figures and a lot a lot of people know about this a lot of people are looking at these individually but what i don't see traders doing is understanding that the fact that these three figures are massively correlated they are linked between each other sometimes they even have a domino effect why because inflation has a massive effect on inflation the high inflation goals it has another domino effect on interest rates and so on and so forth and it has the inverse uh correlation as well the high interest rates go the lower inflation drops the lower employment drops as well so this is what we're going to be looking at today all right now over the last six to nine months the u.s dollar in general has come under a lot of pressure now if you go to the charts and put a daily time frame you will very clearly be able to see that or even better get a chart of the us dollar index and you get a much better picture of that also the pressure is due to these three statistics of course there is other elements to it but it is massively true to this these are free statistics number one interest rates are extremely extremely low we'll be looking at this employment unemployment rate is extremely high at some point over the past six to nine months it has been the highest that has been this century so uh this is why there's been a lot of pressure in terms of the depreciating u.s dollar but we're going to look at this in more depth so the first thing i'm going to look at is interest rates why because it's probably the strongest out of these three statistics and these three announcements so very quickly before we carry on it's important for everybody to understand exactly what interest rates are because i can see somebody has already mentioned uh which interest rate are we referring to of course we are definitely referring to the central bank's uh interest rate so we're not looking at regional interest rates of course that has an effect on economy as well but the biggest effect is going to be from the interest rates of the central bank so in america would be the federal reserve in the uk the european central bank in the sorry in the european union the european central bank and in the uk the bank of england so interest rates is the set rate which the central banks said for regional banks to borrow capital so of course yes we are borrowing capital as citizens as individuals you've got us here and we borrow capital from banks but what it is it is a domino effect so you've got us here on the left we borrow money from banks they may charge us for example let's say if you're in the uk an average of one to two percent for an example but that rate is massively linked to the rate which the bank itself is being charged by the central bank so the higher that this first lender is which is the central bank the higher each individual mortgage credit card overdraft any type of fees which are related to a borrowing is likely to increase by this is why it is so important so the higher the national interest rate is the higher the chance that your local interest rates not just on your mortgage but any type of lending so it could be small amounts on overdrafts and credit cards the more likely those rates are likely to rise increased interest rates will help reduce the growth of the demand in the economy and the slower the growth then is likely to lead to a lower inflation and the higher interest rates are likely to increase to lower growth and of course a lower inflation so let's look at that in more detail so you have interest rates now as they go up the more expensive life is going to be for you as an individual now when life is more expensive and you have more expenses then you're less likely to go on holiday to buy that extra home to invest money to have a more luxurious life now that creates a slowdown in the economy at the same time the higher interest rates are the better money that you're going to be getting on your savings account so that's going to tempt you to leave the money in the bank instead of spending it again that leads to a slowdown in economic growth now at the same time when you are lowering interest rates it means that your life is more cheaper because everything has done gone down in cost so you have more surplus money to spend so you can go on holiday you can buy that extra car you wanted you can buy that bride to letter property or that second home and you're less likely to keep your money in a savings account because it's not worth it you're not going to be earning any money and nata tends to create economic growth so when there is very high economic growth and economic growth looks like this then at this area here to avoid the economy expanded so much that it is followed by a bus which is known as a boom and bus situation what they do is they increase interest rates people stop spending and the economy starts to slow down like this until it gets back on track now let's say it drops too low and it starts to do this which is not what people want to see of course then what they'll do is at this area here the central bank will increase interest rates now sorry decrease interest rates so everybody has more money and people are more likely to spend than invest so what happens is the economy ideally will start to grow again like so now it's not always as soon as simple as that but that is the basic idea behind it so let's look at the latest information within regards to the united states interest rates in the united states have not been this low since the backlash of the banking crisis over 10 years ago so you can see here i put a graph taken from the government website itself where it's showing interest rates so you can see of course interest rates are going up and down but since the banking crisis you can see dropped and it stayed that way for almost 10 years not so quite ten tenuous but almost 10 years and you can see interest rates now have dropped to that previous level that we had during the banking crisis so that is a very important statistic that you need to know as traders that is extremely low the last time it was this low it stayed that way for many many many years uh now what's very important to know is that the lower interest rates are the more strain there's gonna be on the us dollar it doesn't necessarily mean the u.s dollar will keep dropping but the more strain is going to be on the us dollar because the more the interest rate goes up the more people can burn in in american banks and that will increase demand for people watching american banks american bank accounts and american dollars creates the value of the u.s dollars go up

so the federal reserve has advised interest rates will stay this low as long as necessary the fed has advised they are looking uh for mainly the employment and economic growth to can get back to the state to the uh level it was before prior to copy 19 before they start to increase interest rates again they want those figures to go back to the way it was for the economy to fully recover before they start looking at increasing interest rates again something else to bear in mind is of course central banks want interest rates high they don't want interest rates no at the last time the interest rate uh dropped it stayed low for seven years we mentioned that already uh going to be very key throughout 2020 so us as traders we're gonna be looking at is employment and is inflation going back to the level at least getting close to the level was previously and is that going to result in increased interest rates because if it is and we are seeing employment get into healthy levels and inflation get into healthy levels and the central bank starts to indicate right we get into those levels so maybe we can start excuse me start increasing interest rates then of course you want to be traded in that possible movement on the us dollar uh it is important not only to analyze the actual rate itself but also predictions from the central bank so bear in mind the movement not only necessarily is going to happen when the interest rate goes up or the interest rate goes down but also by the central bank saying okay maybe we may soon start to look at the possibility of increasing interest rates that itself can possibly have a bigger effect on the us dollar than the actual increase itself so bear that in mind especially throughout the next 12 months because it's at a level where it is extremely low the lowest there has been hasn't dropped lower before so a lot of people are going to be looking at when are we going to start getting to figures where the federal reserve will be happy to start increase interest rates again now inflation inflation is the main uh measure is sorry is a measure of the rate of rising prices of goods and services in the economy so it is again the rate in which goods and services our are rising within that economy itself deflation is when the prices are decreasing now most economists and central banks are aiming to have a steady inflation of around one and three quarters to two and a quarter of course that is going to change depending on the region the central bank and of course economic conditions anything outside this bracket though is deemed to be unsatisfactory again it depends on the central bank but it is very easy to get their target simply by typing it on google what is target inflation for the federal reserve you will get that answer straight away of course though bear in mind that may change going forward now if you see an economy is continuously being outside the inflation target then most likely most analysts and the market in general is likely to expect a change in the monetary fiscal policy so that doesn't necessarily mean it would definitely happen but if interest rates are too high if prices are rising too fast then there is a good chance that the federal reserve will see this and increase interest rates to lower the level of growth because that is not the case on every single at on each occasion the same thing if interest rates are too low or even worse in deflation then of course they may decrease interest rates to try and get people spending and provide economic growth now if there is deflations consumers will wait for a better deal deflation is bad now i'm putting this in brackets because the last time we spoke about inflation we had a couple of individuals saying why is deflation bad everything's cheaper that's good it's going to make me buy things and it creates economic growth this is what people were saying the last time you spoke about this deflation no matter where you're researching it you will generally see that it is bad especially for a currency why because currencies are massively driven by big traders not by retail traders so we're looking at big companies and big banks now if uh products are decreasing then there's a big chance a company in france will say i'm not going to buy this product from the uk why because if i buy in six months time it's gonna be cheaper so i'm just gonna not buy it or i'm not buying it at all because their products are deflating and if i buy it may continue to drop in price so deflation is bad and can have a very bad side effect on uh the demand of the currency the same at the same time extremely high inflation will result in consumers looking elsewhere now this was another argument uh debate should we have should we say the last time we had the webinar on inflation when inflation is too high uh companies in other countries and governments are likely to say we're not gonna buy from this region because it's getting too expensive instead will buy from a different region and they stop exchanging money in your currency to buy goods and again you're seeing a drop in the demand now even though inflation has increased since the near zero percent back in april so bear in mind back in april when we had covered 19 and lockdowns on quarantine etc inflation dropped to near zero percent that is very very far from the federal rule at reserves target of two to two and a quarter percent uh the federal reserves tend to have a much higher target compared to other air regions in the world especially compared to the european union and at times the british economy as well but it did drop very close to zero it has recovered since then you can see the inflation currently is at 1.2 percent even though bear in mind even though it has gone up back to 1.2 percent which is a recovery to an extinct but inflation of the past two months has again dropped so it did go up to 1.4 and then drop down to 1.2 and it's currently at 1.2 now the federal reserve aims for an inflation of two to three quarter percent if they keep to their word and say we're not going to increase interest rates until we get to those figures we're very very far away from achieving those figures and of course the federal reserve will want not only to achieve those figures but to make sure that it's sustainable before increasing interest rates employment figures are pretty much connected to any economic statistic whether it is interest rates inflation rates and so it's not like inflation weights inflation has a dominant effect on interest rates employment's different it kind of has a domino effect on every aspect of at the economy why because it's at the center of the health of the economy you need to have healthy employment figures now whether trader is a lover or hater uh of their economics you are most likely going to want to know what the employment figures are in your region and it's not hard to obtain either you can even obtain them from our website via the forex calendar figures such as employment rates and unemployment claims have been a very heavily looked at to very heavily looked at statistics lately since copied 19. we're still concentrating on the states at the moment so employment uh the employment rates in the states have reached its highest level this century we said that before as well it almost reached 15 percent that is massive if we were looking at before was 15 it was even as low as 3.5 percent that

is much lower than his biggest competition in the european union though employment rates did massively rise to the highest in april it has been steadily decreasing and that is at quite a good rate as well which is is a good sign it has been decreasing much faster than it has in the european union definitely faster than it has in the uk uh but of the last two months the decrease has been slowing down fast over the last month it pretty much did the decrease at all very small decrease in the unemployment figures the number of unemployment benefits which was released last week for last month increased massively not only increased massively increased higher than it was predicted to increase as well so because of that because of the increase in benefits it is predicted that december will see the unemployment rate decrease that decrease either holds so it won't decrease at all or for it to be a further slow down even maybe see an increase of the unemployment rate so bear that in mind that is again something that you can look at on the economic calendar on our website that is going to be announced on the first friday of the month of the month of january uh and it's actually the second friday of the month because the first friday is a bank holiday uh that will be the release of the american employment figures so that's going to have again a massive effect on the us dollar in the short to medium term but it's massively important to keep looking at this over the next few months because like i said the federal reserve has said over the next 12 months we want that employee unemployment rate to drop to where was before covering 19 or at least close to that before we start looking at increasing interest rates again like i said previously it is a big big aim of all central banks to have a healthy positive and high as high as possible interest rates central banks do not like to have zero interest rates or minus interest rates or very low interest rates ideally so it's important for traders to continue to listen to the central bank's stance in reference to the general economic recovery which is likely to be the main aim of 2021 and the interest rates of course that recovery is massively going to affect the interest rates but it's going to rise or not the central bank can of course take either a davis or hawkish stance so bear in mind it doesn't necessarily mean it's definitely going to be hawkish which means interest rates will rise it could be davish in order to attend in order to attempt sorry to pre-determine the future stances it is vital that traders analyze the economic statistics so pre-covered 19 employment figures was low as 3.5 but in general was between 3.5 and 4 percent now it's at 6.7 so that's much higher and its drop now was even higher than that and inflation normally was between one point five percent to as high as just under three percent now three percent is more than double what it is now and again this is an improved figure it wasn't that good if you were going back six months ago so again we want these figures to look more like this ideally in order for the federal reserve to start to take a more frankish stance so the british economy and the british panel gbp now the uk is facing similar issues to the states as uh all the countries other european unions as well in terms of employment in terms of problem 19 in terms of lockdown inflation interest rates etc but they do have one further issue and that is brexit the uk is still finding their unemployment figure high but unlike the us unemployment in the uk slightly rising month and month so it's not like the us where the unemployment rate is high and dropping in the uk is actually lower but is increasing so uh of course everybody's got their own opinion within regards to that uh inflation is also strained in as regions continuously enter lockdowns so who's definitely been looking at inflation interest rates and employment like you would with the us over the next 12 months so the british pound has come under a lot of pressure due to the identification of the new highly contagious strain of courage 19 and uncertainty over the uk's trade deal with the european union so these are two things you need to keep closer eye on of course we don't know how long these are going to last are these going to be short term and long term so first one brexit brexit negotiations with the european union and something very new nothing we something we don't know much information on so something to keep an eye on uh this new type or element should we say of course 19. and the british government has all the strictest isolation rules in london and other cities in the southeast of the country very very bad for the economy bear that in mind and we can see how that has affected the price looking over the last two days all non-essential shops are closing including gatherings christmas quarantine relief is cancelled so there is no relief for christmas uh multi-household meetings will not be allowed as for negotiations on trade deal they are still uh at an impasse bear that in mind again that's having a lot of strain on the british economy the british public as well and also in the british pound which we can see did depreciate at times in the last two days massively and the chances of the deal failure are growing the main uh issues within regards to a brexit bill being finalized is uh fishermen to fish in british borders from what has been spoken by two negotiators the european union is looking for terrorists to be in the region of 12 and that is as high as 12 ideally they want it lower than that whether the uk is asking for whopping uh 50 that is very high uh compared to other areas uh regions should we say that have a trade deal so let's see what exactly is going to happen within regards to that uh information that's those negotiations of course that is going to have an effect both in the short to long term uh in regards to the british pound now quarantines in general are likely to pay a big part a level in terms of the demand in certain countries now if the uk is going to get him more heavily in uh lockdowns and quarantined it is going to have an effect on uh the economic uh statistics which are likely gonna be released in the months going forward now further news is that there is a growing number of countries in the uk sorry in there the regions of the european uh sorry in regards to uh europe uh such as france germany even turkey now been the latest to remove the uk from a list where people can travel from so people will not be able to travel from the uk to other parts of the world that list is rapidly growing that is going to have a massive massive effect on businesses as well but that's in mind as far as what i can understand people can travel to the uk but they will not be able to travel back from the uk so again that's going to have a massive effect within regards to that so again now that something's definitely keep an eye on uh now as promised i can see another individual has asked this question are we gonna look at the actual charts uh yes we are this is what we're gonna look at now uh so what i've done is i've put three indicators on the charts as i normally do because these are the most uh the most looked at and easy to understand indications of course it's up to you whether you want to look at more advanced indicators or not the first indicator is the crossover which is this moving average crossover you've got an exponential crossing over the simple at the moment ladies and gentlemen is crossed down what's that indicating to us that's indicating to us downward indication the downward trend what we've seen since then is that yes it definitely did cross down and bear in mind that it crossed down uh on friday okay so it has already been two trading sessions so better to man at some point of course we were waiting for a retracement the retracement did happen it dropped to here and then retraced back upwards within regards to retracement it is still above the 40-day moving average which is this blue here which is still giving us an indication that it's in a bullish area so better than mine but it hasn't necessarily corrected up to here which is the previous swing high or crossed above it so we're still below the swing low uh within regards to the stochastic oscillator has crossed down since then though it looks like it's about to cross up so let's look to see if it actually crosses up because it may not and within regards to the rsis in a neutral area so like we can see here we can see we very clearly saw lower lows within regards to the highs and lower lows within regards to the price swing lows so we can see that very very clearly here a very nice downward trend what we've seen since then it's gone to the previous swing high now what we want to see and establish is if it's going to continue to rise to create higher swing highs and higher swing lows like we can see i've done here which is dom's price action if it's not and it's going to collapse lower again and especially if the moving averages start to cross over lower again that again we're going to see a lot of strain within regards to the euro now the us dollar over the last 24 hours bear in mind and also on friday did the increase in value against all its main competitors since then though we have seen this correction upwards so let's see what's going to happen uh in the meantime within regards to that british pound we've seen a similar movement something to mention on the british pound though is that it dropped massively it dropped much lower than the euro dropped against the us dollar uh we are still have it heavily dropped uh crossed over down even though we have corrected upwards in the last eight hours we are still way below the 40-day average price uh the stochastic oscillator though bear in mind hashtag hasn't crossed upwards so this is something positive something maybe you can keep an eye on let's see if it crosses over on the moving averages also uh also we've got some assistance within regards to correction upwards because it was overbought in this area on the rsi so we're looking at a similar figure a similar situation here on the 30-minute chart this is a swing high it did cross slightly above it we can see here but what we want to see is if it crosses above this area here which is the swing high a more significant swing i should we say an even more significant string high will be this area here so let's see if it crosses above these two swing highs if it's going to cross back below here then again sentiments going to change now on the 30-minute chart we are definitely massively overbought this indication indicated on the 30-minute chart on the stochastic oscillator that the price is too high so let's see if that indication is correct or not and if you do want signals on the us dollar your euro usd or the british pound usd then by all means just go to the uh accenture website click on trade in central or trading analysis and then click on chart analysis and it will give you signals there to actually assist you now that brings us to the end of today's webinar i hope it was informative for everybody if you do have any questions this is my email address here so feel free to get into contact with me at any point in the meantime ladies and gentlemen uh trade safe trade responsibly if you do need any assistance please let us know if not hopefully we'll see you on one of our webinars very very soon have a good night and a happy christmas if we don't speak before then good night

2021-01-03 02:15

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