 Welcome back folks Tommy O'Brien with Basil Chapman right now. We got markets floating pretty close to calm We get the S&P's flat twenty nine ninety five Nasdaq negative by fourteen trading at eight thousand ninety Dow Jones Positive by sixteen trading twenty six thousand eight four Let's go to our man. Teddy keg stat as we do every Wednesday at ten forty past the hour Ted you can check out Teddy every trading day at Forex dash trading dash unlocked comm That's forex dash trading dash unlock comm and man. Oh man. We always got something good going on in the forex market Teddy keg stack a morning Good morning guys Morning Teddy so Teddy quite a day yesterday, of course with the Brexit I was sitting here on the Bloomberg terminal watching the votes come down the first one got approved By about 20 votes on the MP the second one got denied by about 20 points and you saw that pound fall off You saw the Europe fall out fall off a little bit of dollar action What is what what's kind of your take on those markets and where we go from here? Maybe we can start off right there? Okay, well, obviously we have a timeline Excuse me of Halloween October 31st for Brexit. So for sure that's something we're looking at keying off the information We had the ECB which has some big numbers coming out tomorrow They had the PMI for the EU for Germany and France all coming out tomorrow So these are gonna be numbers are gonna be watching so this might be a little stir with the euro US dollar tomorrow But as a whole I think we're gonna start to see him kind of go sideways into next Thursday as we have these votes on you know Unleashed and we see really where we're gonna go with as far as direction But one thing you guys might want to take a look at is Besides Brexit ending on October 31st. We also have a monthly signal that may be triggered in the dollar index and is this could be the beginning of a new Direction for the dollar index from not just the next couple months, but maybe actually for the next couple years So for October we have a bearish engulfing line forming So if we settle right now with the dollar and if today or tomorrow Index was a settle where it's at we would have a sell signal on a monthly basis Also, should this signal occur next Thursday that might be the second shoulder in a head and shoulders Formation on a multi-year formation for the dollar index And if these two things coincide in our correct then we probably we see pressure on the US dollar not just for the rest of the fourth quarter But probably for the next two to three years literally and it's pretty cool Teddy We've been talking about it and of course, you know Brexit tying into things the pound and the euro getting pulled down so dramatically as we've had so much uncertainty over there and Really quite a pop that we've seen over, you know the last few weeks with Boris as in maybe the hard Brexit taking off of things You've seen the dollar lose a little bit of the steam it's had since then So maybe that sets the trend but it's been quite a move that you've been talking about man As we've come into that that that vote and kind of that October 31st deadline so far Starting to interrupt you real quick the dollar index as it's been pounding these lows I mean the last couple of days it's come back Ironically, so is the pound the pound has come off its highs the euros come off its highs So there's a this little we have a harmonic that started on October 1st And I think this is going to continue into October 31st even with the Brexit going on Yeah, it's it's it's interesting stuff man I sat here for the whole hour from about 2 p.m. Eastern time yesterday to about 2 30 it took for those votes to come down and Not to say it was all but expected, but man, it's just history repeats They think that they might get it right the pound is up there And before you know it it falls off that cliff at 2 30 when the second vote doesn't pass and and the volatility kind of continues Sure, sure, and I think that yesterday's votes that you're talking about They're totally indicative of what we've been seeing for not just the past few months But for the past couple years, but it was a positive sign That Boris Johnson did get one vote It's a step in the right direction And I think it's probably the first positive signal for him that we've seen actually in a couple months Yeah, I mean we're dealing with it. The second vote was a little closer wasn't it? Yes right I've been dealing with it for almost three and a half years and for the first time They actually got a vote to to go forward with Brexit now. They they pushed the timeline back Which is why you saw that kind of delay but pretty remarkable, you know You had all those Theresa May defeats and then they finally get one get one forward So three and a half years a little bit of progress inch by inch they get there, but that's where we stand And they say things take a long time in the U.S. Oh, right? And you know the the lead up to that before we jump to some of the other currency the lead up to that was You know the fast track, right? Oh man, how are you going to do this with only three days of negotiations? And I kind of agree with that sentiment you can understand that sentiment for everything on the table But you got to keep in mind they've had three and a half years to do that action. So Frustration everywhere. How about the yen? Teddy, I know we're always looking at that. We get the yen trading about 108 57 right now What are you looking at for the yen? now the yen is the one currency is kind of funny how Where the dollar has been weak and the other major currencies have been strong The u.s. Dollar yen actually has been the opposite So while the dollar's been under pressure the yen made newer highs recently just last week now It has been consolidating over the past couple sessions And I think that that's because we have so much geopolitical news. It's coming into play So and to the upside it's it's a it's just a grind like you notice If you take a look at the high that we made a couple sessions back sure that took out last-wing high by only a little bit You're talking about a half a buck move. You're not there's not much room to the upside now I'm still bullish overall especially because I'm bearish the the dollar index right now Okay, and if that if especially as we trade in the next Thursday at the dollar index falls under pressure again Then I think you're gonna see the end actually continue to make new highs But I don't think you're gonna see any exacerbated rally I think you're just gonna see it just kind of tick through make new highs and be a grind where I think you're Weeks shorts are gonna get squeezed and I think your week longs are gonna get chopped up I think you just kind of got to ride it and just hang on Yeah, pretty remarkable man when you look at that just going back to kind of the beginning of August and man We had so much turmoil whether you look that was kind of where our rates went You know gangbusters as well But you're the end basically almost right where we're at right you trade down to almost 105 and now right like that We're right back almost at 109 The Swiss Frank Teddy, I know we talk about that a lot Yes, always taking a look, you know, you're talking about parody and so forth. What are you looking at for that Swiss Frank the CHF? Right now. I think for the US dollar Swiss I like the little bounce that we have over the past couple sessions I think that we'll probably see that rally continue Maybe over the next day or so into the end of the week, but I'm looking if especially if the dollar index starts to go lower I think you're gonna see the Swiss Frank actually get down to that like 97 30 area 97 half area Okay. Yeah, we're trading. What are we 99 08 right now and that's Swiss Frank Nice, right. We had a rejection of parody. I think right now you have to look at the short-term trend where you know We're it's it's indicating it lower move lows. I mean you make a lower move high lower move low Lower, you know, I mean you just have to go with the following, you know with the trend Yeah, that's the trend is your friend as they say it doesn't come from nowhere, right for sure They don't care about Brexit and the EU stuff like that. Yeah, they're different. Yeah, that reliable Swiss Frank for sure Well, I like it I think as a trader as if you want to avoid the news right now Trade this trade to Swiss and key off the dollar index I think the yen is gonna be a tight trade the euro and the pound there They're kind of you know, the euro gains strength, but it went away. No fire. They, um, you know the buckle 8 area like 8 half Teddy, we might have to move this to two segments going forward and we got so much happening in the forex market That was a quick nine minutes folks. You saw the charts we had up there. Check them out. Teddy every day forex dash trading dash Unlocked comm Teddy. We appreciate it man. We'll talk to you next week Take care take care, man