FIRST THE ITALIAN PARLIAMENTARY ELECTION – WE MAINTAIN BUY FOR EURUSD.

Italian election results LIVE updates: Anti-EU SURGE – Salvini REJECTS Five Star coalition

ANTI-EU party Five Star Movement is now the single largest party in the Italian election 2018 according to the latest exit polls as the nation takes one step towards anti-establishment and anti-EU parties leading the country. Here is the latest information and LIVE updates on the results.

  • Italy is set for a hung parliament with Centre-right, Centre-left, 5 Star Movement not able to secure a majority – a Grand Coalition is needed
  • Three options: Centre-right with some support from the centre-left, 5 Star Movement with some support from the centre-left or 5 Star Movement and the League
  • Italy election is a triumph of anti-establishment rhetoric – the victory is in the same league as Brexit and Trump from the eurozone’s third largest country.
  • More than half of the voters have backed the Five Star Movement and the League.
  • Renzi’s centre-left Democratic Party has had an abysmal election – falling to about 19% of the vote – Read More @ https://www.express.co.uk/news/world/927026/Italian-election-2018-results-exit-poll-live-updates-Italy-general-election

CANADA IS ALL GOOD WITH EXEMPTION ON TARIFFS TOGETHER WITH MEXICO – CAD CONTINUED TO GET PUNISHED WITH THE USD.

This Great Graphic composed on Bloomberg shows the Canadian dollar against the Mexican peso since the start of last year.  There have been three big moves.  The Canadian dollar trended lower against the peso as it corrected from the sharp sell-off induced in great measure to the candidate Trump’s rhetoric against Mexico.  However, shortly before the inauguration, the peso began recovering continued through H1 17.
In Bank of Canada hiked rates twice in Q3 17 and this helped fuel the Canadian dollar’s recovery in H2.  In Q4 17, the Mexican peso, alongside other emerging market currencies weakened.  The Canadian dollar reached a high in early 2017 near MXN16.706, and weakened to nearly MXN13.39 before rebounding to nearly MXN15.75.  – MARCTOMARKET.

Trump says he’s not backing down on trade – Here is the chart for USD INDEX – STRUGGLES @ $90

TODAYS’ NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 8.30am – Australia current don’t look good – price stays neutral before the rate announcement at 1130am.
  2. 11.30am – RBA will announce the rate and is expected to be no change – but RBA might surprise the market. We move from SELL to BUY AUD.
  3. 5.10pm – Retail PMI – expected to be good – we maintain buy for EURO for a breakout to 1.30 against the USD.
  4. 11.00pm – Ivey PMI from Canada – expected to be good – we have moved from SELL to BUY for CAD.
 The market is still digesting from President Donald Trump next TWITTER. We stay SELL for the USD. Do be cautious with Money Management.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary

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