Monday 30 November 2015

EUR/GBP: A Bear Flag?




EUR/GBP failed to break above the resistance at 0.7080 and bounced off that level. It reached the support at 0.7010 on the daily filter chart, formed a doji candlestick and moved to the upside again, so it is very possible that it will attempt to test the resistance level yet again. That said, the pair is forming a rather clearly defined bear flag pattern, so even if it reaches the resistance at 0.7080 I would be on the lookout for any candlesticks that indicate a new move to the downside. Either way, for now there is not signal that the bearish trend is over.

Saturday 28 November 2015

Leading Oil Companies Are Queuing in Iran




Total SA, Royal Dutch Shell Plc and Lukoil PJSC are some of the international companies that have picked oil and natural gas deposits to develop in Iran as the country, which is the the holder of the world’s fourth-largest crude reserves, presents $30 billion worth of projects to investors.







Friday 27 November 2015

UK Economy Has Grown by 0.5%




Unchanged from the initial estimate official figures confirmed that between July and September the UK economy grew with 0.5%.