 Up over to our man Teddy Kegstad every trading day folks. You can reach Teddy at forex dash trading dash unlock calm We talked to Teddy every Wednesday at 40 past the hour. We talk a little forex. We talked a little commodities Teddy Kegstad. Good morning Good morning. We got a lot to talk about today Boy, it seems like every week man. We got big action happening between Wednesday and Wednesday when we talk Teddy Quite the markets we have across the board. Where do you want to kick things off, man? Well, why don't we start with the the oil market? So we have oil it made a little bit higher move high today It's pretty much unchanged on the day. So I think you're gonna keep on seeing this You know pressuring on resistance and trying to break out to the upside I believe that that trend is gonna stay intact, you know right now with what everything that's going on globally Boy, it's it's a pretty remarkable trend man 85-74 I got light sweet crude up here and you're actually above now Teddy You know where you were in terms of October highs November highs quite the surges from 62 bucks Put it on, you know a weekly no matter what you put it on man It's like this thing is just going through the roof right now I go back five years were at highs but you got to back it up to that monthly and seems like all but considered next stops 100 I mean you're going back into on my chart. I have it up on a monthly teddy right now going back to cheese 1999 but that fall off in 2014 where things really went from a hundred and seven bucks Barrel down to 52 as in we're basically in that land now that we haven't seen those prices since we were there And seems like right right up. I mean on my chart, you know being a technical trader to some degree Seems like next stops a hundred bucks, man As you're through everything that stands in its way, right the technicals and the fundamentals are definitely pushing that way It's hard to be a bear, you know, so that's for sure So but why don't we we'll talk about how that's going to influence a couple of the currency markets as we bounce around the forex world I think the biggest news though. I don't know if you're aware of it. I just saw the video on Boris Johnson's speech about the whole Removal of all mask mandates is going to be huge Starts tomorrow So the British pound probably is getting a little leg up right now on the against the dollar from that news I mean most people probably haven't heard it yet. I watched the speech It was pretty amazing like and the ovation and parliament parliament and the people screaming when they heard the mass mandate is ending as of tomorrow So I mean you could they still say you could should wear it and blah blah blah But they said sure no more persecution and whatever and the biggest thing you said all kids go to school. No masks All people go back to work. Don't work from home. Go back to work. So that's big They want to jumpstart their economy. They want to throw UK back and they're like, hey Omicron's over like we got to live with that. We're moving on, you know, I mean Japan Japan did it in December the UK now And remember the UK is not part of the EU anymore. This is you're not getting this narrative from the EU You're getting the complete opposite still. Yeah, I mean Germany is still a hard line, you know, Italy's very hard line You know, yes So now the question is is this gonna keep on it's good. You're seeing it more and more I mean Mexico lifted their mandate on COVID Requirements so now you can go to and from Mexico just like you can travel in the US now. They don't care Okay, you know, so now this year for the economies, you know, and this gets back to the currencies So the dollar right now We had a big bounce on Friday for a lot of the currencies with the versus the dollar meaning dollar strength Like when we talked last week, the yen was pretty strong It got hit hard over the past few sessions after we spoke, you know, yes, you know You know, I bet you know, I've been long for a while, you know So but now it's it's it's coming back, you know and dollar strength We had a lot of buy signals and sell signals and for various currencies So when the dollar index on Friday set a buy signal that also touched off the euro Which was then giving it, you know a sell signal and then we had it in the pound Okay, so now that was coming into into play now I think this news with the UK could put the brakes on this on this move with the British pound So the British pound could become a very raging bull in the long term, you know So in fact, I can give you I'll give you guys a price target on that one G-P-U-S-D So right now we have a little bit of a reversal going like I was looking for it to correct down to the 134 51 area 133 83 area But with this news with this new news this could totally change everything Okay, so today's close if we see the British pound US dollar continue to press through resistance today and settle where it's at now Or a little higher if we could follow through over the next couple of days I think you're gonna see a big big big change in the momentum of that currency I mean, I'm right now looking at it as to be bearish right now not bullish, you know But this news I think is gonna change everything around So I'd be very cautious if you're a short the British pound US dollar be very mindful of the high from last week Because if we get above that Long term, I think that's a big significant tone on what's going to happen with the pound versus a dollar Now this won't be the same for the euro US dollar. I think the euro is going to be a totally different place So where the pound is going to probably be strong We're not going to see it in the euro the swiss I think is really going to stay choppy for the next like week or so on this news too, you know Now with the US dollar yen Especially with oil riding the highs which also supports the pound I think that the US dollar yen trade probably is going to continue to get a pop because I don't know if you watched the 10 year and the 30 year over the past couple days But especially yesterday they hammered the lows, you know, they're pretty much unchanged today So but this this is a big deal, you know as far as the currency pricing remember We talked about a couple weeks ago I said that I think that we're going to start to see a lot of divergence in the forex markets where The dollar index is no even though I think the dollar is overall a bull versus many currencies Not versus like the pound now. I think the pound has a potential with because of the narrative that's going on now You know what I mean? So and that's where I think we're looking at a totally We're coming into this fluctuation part part So any of your people that are out there trading the forex markets be mindful of the trends Some of them may get disruptive We may start to see a turn where long term I was looking for, you know The pound euro at least to be pretty much sideways, you know, maybe not necessarily lower but not a bull Now I'm reversing my whole like thought process on it because between the you know Interest rates would you think would neutralize the oil effect with the pound? But now that they're lifting mandates and that everyone's going to go back to work and they're going to be firing on all cylinders That's a big deal. They're going to open up all the factory. Everything's going back online as of tomorrow, you know Like that's major major news So there are already economic numbers are going to change over the next couple of months You know and you got to remember England the uk is one of the epicenters for forex trading You know, the pound is one of the biggest trade occurrences out there Don't think that these currency traders in the uk as of today are being like, whoa We got to change our whole perspective on the different crosses with the pound versus the end the pound versus the dollar pound versus the euro Etc etc, etc You know, so it is it is pretty cool me. You make great points I was just going to jump in and say because I was thinking about this morning I was reading an article about china in general and just their whole Approach to zero covid cases and how that's kind of Come back to bite them With omicron and the spread and how they can't contain it and now they're dealing with problems that they don't have any type of You know immunity their vaccines are not as effective and now they're trying to contain it and they can and it just made me think of How countries are going to come out of this and like for instance china was so ahead of the curve early on right They just basically took everyone's freedom locked it down got rid of covid and tried to live without it now Turns out as many people said you can't really do that because we're going to have to live with it And so that just made me start thinking like you're saying where we're and i'm you know You know we're in florida, man And I don't agree with a lot of what florida did but the cool part is is that it's almost hard for me to understand Some of the lockdowns still going on in the country and especially overseas man We talked about australia stuff like that Absolutely, and yeah, it's time to come out of this man. We're two years into it, right? So it'd be interesting to see what country comes out how and how that fares man Well, teddy, I appreciate the update as always man. There's a great take We'll watch that pound and we'll talk to you next week as always big care. Thanks a lot. You too teddy. Take care Thanks so much folks. Check them out every trading day for its dash trading dash unlock.com. We'll be right back finish up the show