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Weekly comprehensive analysis
October 31 – November 10th 2016
Previous week:
It was very obvious fundamentally and technically that the BOE was interfering the markets. BOE exploits the period to the US elections and the lack of the economic events to make some pushes on the sterling by spreading rumors about the tripped economy of the UK and the bad effects of the BREXIT the has been reflected so far and it will (Fundamental interfering). Also, we have seen some obvious technical patterns that prove the direct hedging of the bank in the forex markets which caused the stock market also to be choppy.

Next week:
We have couple of major events next week, BOJ and US FED, BOE interest rates decisions, US and Canada unemployment and no-farm payrolls. Next week we have the biggest event ever US PREDSEDINTIAL ELECTIONS. A strong punch of events like these should mean a great turmoil in the markets especially when you add BOE hedging as a catalyst to uncertainty of the markets.

What will be my trade?
It will be the first time to give that answer, STAY AWAY. There are many technical indicators and also fundamental reasons that will make me step away next 10 days. First fundamentals are very obvious -the rate decisions and the US elections-, what I want to talk about is the situation of the BOE towards the GBP, which is trying to do its best in order to stop the rising of the GBP, despite the real rising in all the fundamental numbers like GDP and inflation.
Secondly, some technical reasons are pushing me to stand aside watching what is happening. The GBP is reaching historical levels, which will cause the currency to change direction dramatically for the next couple of years and it is about to happen. On the other hand the BOE is pushing too hard to stop that by making direct break through.
Thirdly, the stock markets are giving very suspicious signals for these days for the different stock markets.
So the markets are so hot the next two weeks. My best trade is to stay at the safe side and keep waiting, watching and learning.
Good luck  
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info@marketstitan.com

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