Scottish Independence? Yes or No. September 19, 2014
Binary Options Strategy | Sep 19, 2014 03:00AM ET
Looking at the economic calendar for the session on Friday, there’s really nothing to pay attention to beyond Canadian CPI. With that, most of the session is going to be about the Scottish Independence Vote, and we believe that it is a simple equation: if the Scottish stay, both the FTSE and the GBP/USD pair will go much higher. If they don’t, they will both fall drastically. With that being said, there is a whole lot of thinking to do with the trading session, other than trying to “front run” the vote. Honestly, we feel that’s going on already in the GBP/USD pair.
The GBP/USD pair broke above the gap that formed several sessions ago, and continues to climb. It appears that every time the market falls, buyers are coming in at higher levels to pick it up. With that it tells us that perhaps people are anticipating a no vote, and with that the relief will probably send this market much higher, especially considering that anybody who is voting for a yes vote will have to suddenly reverse their positions, thereby pushing the market even quicker to the upside.
The USD/CAD pair fell during the course of the session on Thursday, but we feel that it’s only a matter of time before we get support to push this market higher. The Canadian CPI month over month numbers could be soft enough in order to pushes market back up above the 1.10 handle, which for us sends it looking for the 1.11 level, and then the 1.12 level.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.