 Hello and welcome to the CMC market Monday market webinar with myself Dave Madden market analyst here at CMC markets And today's date is Monday at the 12th of February and the time has just gone 1215 p.m. GMT 1215 quarter past 12 UK time As always with the webinars what I will do is I will leave the risk warning of slides up on screen here for If you're a few seconds for you guys to have a read through it's all fairly straightforward. It essentially states Anything that is better covered in today's webinar. She is only my own personal comments and views On opinions and remarks. They should not be shouldn't they should not be Thought of as explicit investment advice or trading advice So I'll leave the risk warning on screen is there you guys have read through it Continue to talk over it. It's something that our compliance department Will be be kept happy with in terms of what's going on In terms of the kind of major news Over the over the weekend with what we've seen is a quite a decent bounce back In European equity markets looking at what happened overnight in Asia with a fairly decent sell-off in Asia overnight So the pessimism is still alive and well in Asia But given that we had a strong strong a fairly strong session in New York last Friday The deposit sentiment has spilled over to Europe today What we've seen is quite a decent bounce back So we're so we are slowly regaining some of the some of the colossal ground that we lost last week We're not quite out of the woods yet in terms of back to the levels that we haven't Back to levels that we haven't seen for two weeks But it certainly is in the beginning process stages of that So I'll just as always with with our webinars I'll give you kind of brief rundown of the structure of the webinar I'll talk about the major macroeconomic events that are coming out for the future trading sessions ahead But to keep an eye out for I will also take a look then at the major markets major indices currencies commodities and then any kind of markets That I haven't covered feel free to type in the chat box with the question box Just pop in a comment there. I'll happily go through those those those markets I'll also show a few bits and pieces on our platform, which might be of interest to yourself So the first thing I'll do as I said, because the main news of the story of weekend That's been that has been about bounce back in European equity markets. It turns a single stock story There isn't really a whole lot to go on today What we've seen in the in the financial markets this morning is about strong commodity prices Let's try mining companies Glencore, BHB Rio Tinto on the bikes I've done quite well Barclays have been charged by the SFO the series fraud office In relation to activity that was that one done with the bank in late 2008 In terms of actually individual stories, though, there's much to go on broadly speaking It's pretty quiet in terms of political news and macroeconomic news But we have seen a decent bounce back here in Europe And we are looking for a higher open in New York So for those of you who are familiar with our trading platform, if you go to the market pulse tab here And the second mark mark a pulse fourth option down is the market calendar This is the economic calendar. This maps out the major economic events of the week And as you can see today's session is fairly quiet. So we have some updates from China In early morning and overnight But by and large it is fairly a quiet day in terms of updates from a European perspective So looking ahead to tomorrow The big one tomorrow morning is going to be CPI inflation figures up in the UK Respecting the headline inflation figure to dip to 2.9 percent from 3 percent bearing in mind We that already ticked lower from 3.1 in the previous reading We'll also get an update on the PPI the producer price index And we also get the respective core figures as well as the as the headline figure on top of that and not to mention retail sales The pound has had a bit of a bit of a sell-off in relation to it's very good performance versus the US dollar in the last Couple of months, but it's not very much in the software trend. I've looked at a pound versus the US dollar Later on in the webinar, but in terms of economic indicators. Well, let's watch out for tomorrow It's a recently quiet day at the very at the very end of tomorrow at tomorrow night We'll have the Japanese GDP figures coming out Turning our attention to what's going on on Wednesday I think the big focus of Wednesday is going to be the CP is the crowd figures coming out on Wednesday morning at 7 a.m. Out of Germany on top of that We also have CPI numbers coming out of Germany in the same report Germany is about by far the biggest most important and influential country in both the eurozone at the EU So whatever goes on in Germany can actually get a big impact on what's goes on in the in the currency block as a whole Later on in the session. We have GDP figures coming out from Italy at 9 o'clock in the morning And then of course we have the eurozone industry and output number as well Which are going to be less important at half one on Wednesday We have CPI numbers coming out of the US. That's going to be big one to keep an eye out for seeing as With the wage growth numbers in the United States Recently we're decent and we could see Employees in the US who are earning more going on spending more and that that's going to be a particular interest Seeing as the US dollar in recent months has been quite weak We have seen the US dollar index at multi-year lows lower currency could feed in to important inflation We could see we could see the inflation rate in the United States pick up on the back of that That's going to want to watch out for one half one on Wednesday And then I have three Wednesday as to do every single week. We have the oil stocks inventories bearing in mind production in the United States Has has reached as exceeded 10 million dollar 10 million barrels per day an all-time record for the United States Are we also looking at here with there's also rumblings that Iran is going to increase their production By about seven or eight percent over the next four years Turning our attention to what's going on on Thursday the early hours of Thursday morning We have Australian unemployment numbers coming out Then looking throughout the session we've spammaged the CPI at 8 a.m. on Thursday morning Italian trade figures coming out at 9 o'clock on On Thursday morning Irish CPI coming out at 11 o'clock on Thursday morning and then scrolling down to lunchtime All the plumbing claims from the United States coming out at half one on Thursday morning What else to watch out for on that particular Saturday day it does not put on the United States at quarter past two And that's pretty much it in terms of the important updates to keep an eye out for on Thursday And want to keep an eye out for the back end of the week Yeah, you care retail sales a half night on Friday morning And they'll send one of these trading the Canadian dollar or dollar cap For example needs to keep an eye out for the manufacturing figures come out of Canada at half one And then we also have housing starts and housing data coming out and building permits coming out at half one From the United States and Friday and that's being updated the week We'll of course will be will be the University of Michigan consumer sentiment indicator coming out at 3 o'clock on Wednesday I'm sorry on Friday rather last one of the week So I'll take a quick look now what's going on in the foxy with hundred like I said I'm going to run through some of the major indices major commodities major currency pairs If you're new markets that I haven't covered, please feel free to type it in the chat box I'll have a quick look at those So as you can see here, we've had a quite a regressive sell-off late late January into February on the foxy with hundred We are bouncing back though As you can see as the market was selling off here We saw a dramatic increase in negative momentum and now they were seeing the market bounce back here on the MacD indicator The MacD histogram were seeing negative momentum is falling while prices are pushing higher So the selling pressure is dissipating the market is moving higher But but still some traders are concerned though that this did that this bounce back here Is just the new kind of higher lower high before we actually haven't haven't the market turns over on itself yet again So whereby an uptrend is characterized by higher highs and higher lows a downtrend is characterized by lower highs and lower lows So as you can see, yeah, lower low lower high lower low lower high and then lower low So traders are up to after determine that the where we are in this area here in round the kind of 7,000 Dishire 7,200 Traders are determining is this the beginning of the of the the correction And is it the beginning of the push higher about and the market will slot in with the wider upward trend Or are we looking to bounce back and the potential to turn lower yet again? And that so in terms of areas to keep an eye out for We're currently trading as a 7,182 Mixed ever the watch out for should we continue to push higher would be in around the 7,278 area which acted as Support from late this in early December if we go north of that We could be looking at heading up and take out 7,300 we then could be heading up towards 7,400 And if you go north 7,400 keep an eye out on the tour day moving average which comes into play in around 7,455 It's only really until we're north of say the tour day moving average I could we could you then because you then begin to feel more confident that they just let that the positive move Is going to last there's always a possibility the market could bounce back Recoup about half of the losses it lost from say 7,800 down to south of say 7,000 We could see a bounce back towards 7,400 and the market may turn over on itself yet again And if we do see that if we do see a market turning over on itself Next day with the keep an eye out for to the downside will of course be 7,000 south of that 6,000 6,919 and then below that don't act towards 6,800 It's quite a similar view that kind of what the the The kind of vision that I outlined there is quite a similar view We've had a colossal sell-off in major indices and we even though we get we've recouped about a third or a quarter of the losses We have racked up in the last couple of weeks Traders that sit on certain is this just to kind of come before the next storm is just a temporary bounce back Before the market has another severe leg lower or is this the beginning of an actual proper correction? Or we're going to retest the recent highs that we achieved about a month ago So similar move here in the Dax had a colossal sell-off here And and now a bounce here last week. We have been pushing lower Sorry, I've been pushing higher in the last few sessions We've seen a decline in negative momentum so that the setting pressure has declined once again If we didn't move to move north from here, and we're currently just north of 12,300 if you continue to move north from here, we could be looking at running through resistance in around the 12,741 level sorry before we get to that area areas we could potentially So we're currently in around 12,300 and 12 if you push on higher from here we may counter resistance in on the 12,600 area or north of that at the tour de moving average which comes into play in on 12,755 and if you go beyond the tour de moving average That'll be that'll become a big milestone And then if you should be taking all that level we'd be more confident that the upward move is going to last and most beyond that memory Resistance or support into resistance in around the fifth of the moving average which comes into play in around 13,000 and 70 Notice how the fifth of the moving average this line here acts as a support on the market as the market was pushing higher So previous support may become future resistance But once again if the market does turn lower from here from these levels in around 12,300 we could be looking looking to head back down towards 12,000 and then Land out towards 11,900 and then of course the big one to watch out for to the downside Well, of course to the 11,692 the low from last week crowded that was in out of hours trading though So that was that was when the actual cash market was closed Looking now at what's going on in the United States without Jones Once again, it's a very similar picture here across all global equities So we had the the colossal sell-off we saw the steep rising in negative momentum Markets are looking looking a bit firmer turn to push higher move above some of key some key level that's at some important metrics Corresponding to that we can see a decline in negative momentum. So setting pressures to a dissipating and we're currently in Around this price area here of 24,500. So we'd be we're back above 100 a moving average The next big level to keep an eye for the upside could be the fifth a day moving average in at this price action here which is just north Just north of a center on the 25,150 area and if you go beyond that again, we could be like looking of a head up towards 25,588 and then beyond that up towards 26,000 But in a similar vein should we look should we kind of should the should this should the current positive Push higher run out of steam and let the gold turn or lower on itself We could be looking ahead and back down towards this area here the the loaf of Friday at 23,360 and should we go south of that we could be looking ahead and back down towards 23,000 itself Take a look now at the S&P 500 It's once again these indices in terms of the shape of the chart all of fairly similar at least the S&P has a has managed to actually get above the The two-day moving average so after the severe sell-off you've seen here We saw a steady decline in negative momentum So the setting of pressure was rising as the market was moving lower now We're seeing the market firm up. We're seeing a decline in negative momentum So we're currently trading in around the 12,400 492 area which are currently trading in around here So we're back above the two-day moving average with which I saw apologize I think I'm looking at the wrong chart. I do apologize. That was the small cap 200 of the Russell 2000 I was like I apologize. I Was thinking that the S&P The prices were a bit off so once again, I apologize So on the S&P 500 here we can see the market as market was turning lower So an aggressive increase in negative momentum The market did manage to find some support just south in around of the 200-day moving average This is a good example here of how you're looking to place other entry prices or stop losses It's you know put you know putting a precise figure on the area of potential support or resistance can be quite tricky So a bit of leeway or a bit of a lot allows for slippage I decide is off something that traders often do notice here how the market on a couple of occasions traded just south of the two-day moving average and We've now actually managed to bounce back higher on both occasions So just a kind of a word of word of warning and in relation to putting your stops Precisely on certain key levels be it a certain pivot point or a trend line or in this case a moving average So while we remain north of the 20 moving average, the all of couldn't remain positive for the S&P 500 So we're currently trading at 2651 in this area here. We're looking to pretty much hovering on the one-day moving average So the next level don't keep an eye out for the upside could be the 50 moving average at 2,722 notice how here last week On wednesday the high of the day ran into resistance Just north of the tutor of the fifth-day moving average and a push lower. So The previous resistance can also act with resistance again Now should we take out that level in the future? It may be act as support and if you go north of the fifth-day moving average at 2,722 we could be looking heading up towards 2,770 and then beyond that we could be looking heading up towards 2,800 But it moves south of this here this price here The these two this line here at 2,532 I move south of that will create fresh Multi-month lows how if you be looking heading down towards 2,500 on the back of that should that happen So we talked about how we've seen a lot of money A lot of sell-off in the equity markets over the past couple of weeks On conversely to that what we've seen in in gold and well Gold is classically a flight to quality safe haven asset but there is what we did see a declining in gold last week is because What triggered this sell-off was The most recent non-farm non-farm payroll figures from the United States would show a decent increase in wage wage growth But the decent increase in wage growth triggered traders triggered fears that the United States is going to raise It's going to do more interest rates than expected this year at the beginning of the year Traders were thinking about possibly three red hikes now this that this room for potentially four red hikes And this could be this could be the year the United States kind of turns the corner as the were in terms of actually picking up its pace of raising interest rates And so even though we've seen a lot of money go out of equities yet Doesn't necessarily be the corresponding push push into gold because gold and the United States interest rates have a history Of being negatively correlated So while the pressure was an equity markets last week the pressure was also on gold last week for fear We could have a rate rise in March And we could have three we could have we could have up to four red hikes from the Federal Reserve this year That being said after the sell-off of last week We were gold traded at its lowest level in about a month last last Thursday we have seen a bit of a pushback here in the price of gold So we really would need to kind of take head ahead and take off just move north of say 13 30 or 13 40 before we actually look to actually be kind of be sure That the the downward move that we've been in since late January has has been snapped out of If gold does continue to drift lower from these levels, we could be looking at back down towards 13 10 1300 itself and a pinch pinch is low as 12 93 Notice how the water day moving average here acts as about resistance and support in late December And if you take off that level 12 93 12 80 the dirty moving average will be the next level to keep an eye out for sticking with the commodities team We just have a look now what's going on in the price of the oil markets So take a look now at Brent crude oil As I was saying, the oil market has come under a bit of pressure recently due to fears about oversupply Production in the United States is at an all-time high a rather looking increase in their production rate by about seven or eight percent over the next four years And that was the perfect opportunity for traders to cash in to lock in some of the profits because at the end of December So at the end of January rather We did see oil prices at three-year highs. So now we see in a fairly steady Increase in the price of oil over the last number of weeks a combination of a stronger new of dollar and also as I mentioned fears of oversupply of Prompt traders to to push lower on the price of oil to get out of the oil market So as you can see here with the market with the selling off, we saw a fairly steady increase in negative momentum So the pressure on the movement is with the is with the is with the bears the sellers We did manage to kind of drop below the water to moving average now We appear to be back hovering in a realm So this could be a key metric to keep an eye on for if you keep north of the water to moving average We could be looking at heading heading higher again We so as a way of kind of fitting in with the overall positive trend because the oil market has been in a positive trend since last June so This level could be could be a nary to keep an eye on for here This price action of 6124 which coincides with say the november lows if we move south of 6124 That could be the decade that the market is going to it's going to continue to turn lower And should we go low to 6124 we could be looking at heading at 60 dollars a barrel or possibly even down as 50 59 dollars and 51 cents, which was the high from september But if you managed to hang hang north of 6124 we could potentially kind of fall in with the Resume the wider upper trend that has been in place over the last six months So should you push higher from here? We could be looking at running the resistance in on the fifth day moving average at Six when it comes into play in around 67 dollars And then north of that we could be looking heading towards 68 69 so on and so forth Take a look now. It's a very similar looking chart on west texan intermediate wti As i was saying, if you've any kind of comments or any markets you want me to cover feel Feel free to just comment in the question box with chat box I'll happily look at some markets that you want me to cover So as i mentioned, we're not we're not looking at wti fairly similar chart what we've seen here on Brent The wider trend For the last six months has been positive. I've got an example of higher highs and higher lows This price the price action that we achieved here at the end of january was a three-year high But like as i said fears of oversupply and struggling with your daughter has driven the price of oil lower And what we've seen since then as the market was pushing lower a steady increase in negative momentum So the downward price has been confirmed by the steady rise in negative momentum But for this but if you look here the price Is it's bounced off of friday. We're off of friday's lows We're edging higher if you take out the fifth day moving average at 61 21 We could be looking at heading up re-testing 62 and then north of that. We could be looking at heading back up towards 64 But an area to keep an eye out for of course would be the recent low of 50 58 dollars and 10 cents and if you go south of that an area to keep an eye out for could be the the december low of 55 72 or perhaps even the november low of 54 76 if you go if you go through these levels Then we could be indicated that the market is potentially looking at turning over on itself and then back back down towards 53 59 or possibly even down towards the turning moving average at 52 53 review sterling Japanese yen. Yes, they will and just actually coming up to currency pairs now and I will do a sterling yen in a few minutes time First of all, we'll have a look at the euro dollar so the wider trend Uh blank chart the wider trend has been quite positive to our 2017 and early 2018 on the euro versus uf dollar As you can see here, we're talking at the beginning of this year We saw a level that's seen since the end of 2014. So we're talking with the three year high is recently achieved at the euro dollar So the big picture trend is at the upside We have seen though a bit of a retracement from the three year high. We're edging higher here again We would as you can see when you see the the price is Selling off here and we're seeing a decrease in negative momentum So we could have potential further grounds for a further decline possibly down back down towards 122 Or even down the low here of january of 121 65 and if you go south of that, we could be looking ahead back down towards 122 which is the early which is the high from the early january But if you didn't manage to push higher here, the first level to keep an eye for to the upside is around the 123 30 level If you break 123 30, we could be looking heading back up towards 124 125 And then of course in that area, we'd be looking at retesting the three year highs Keeping a look now what's going on the pound versus uf dollar. Like I said, we have British CPI and also retail sales figures could be up this week So a lot of volatility could be ejected into the pound versus the uf dollar So the big picture over the last 10 months since March last year to draw a line from the lows of March last year to the loads of August last year Granted, it did manage to trade south of it on a number of occasions But broadly speaking if the if the if the currency pair is north the sterling dollar is north of this of this trend It's likely to have a bullish outlook This is also an example of what I was talking about about having your enter your other stop losses or your stops or your limits To fixation on a certain exact price You know, you're not always going to see the market turn Potentially at a very precise price So it's often good to have some leeway of factored into where you're looking at placing your stops or your limits It'd be very unfortunate if you put a limit buy in here thinking it's an upward trend and you buy the dip It just trades ever so slightly below the trend line and you get taken out uh, so and vice versa There are occasions whereby a market would trade north of north of a certain uh metric And then reverse again. So just be be mindful of whereabouts you uh, you place your entries and your exits To the big picture, uh, fast 10 months has been to the upside granted after hitting an 18 month high here or 19 month high here We asked sorry the trade lower But as you can see here as the market's pushing lower, we've seen a steady increase in negative momentum. So this negative move may continue um If we managed to take out the recent low of 137 64 we could be looking heading back down towards this area here The 50 moving average which comes into play in around 136 77 or perhaps even down as low as the as uh 135 48 135 48 is of course the the high from December But and then if you do move back down towards the trend line, we could be looking at somewhere in the region of around 134 85 Uh, these are prices need to keep an eye out for sherry bill of south If we managed a hole above the uh, the recent low here And they continue to push higher Holes north of 137 64 We could be looking at heading back up towards testing the 140 mark And of course if you go north of 140, we could be looking ahead towards 141 142 so on and so forth There in your mind, um It was the e-year referendum uh in june 2016 It's when the power versus us dollar had the major sell-off overnight on the back of the result uh before the before the just Before the polls were closed at nine at 10 p.m The pound u.s. Dollar was some of the region of 150. So when people talk about I think, you know 19 month highs On the pound versus u.s. Dollar it will have to exceed we'll have to go north of 150 before we'll actually look at having multi-year highs created I take a look now what's going on the euro versus the British pound Then I cover dollar yen and then I cover sterling yen So the big picture over the last few months um has been Has been the euro kind of losing ground versus versus the uh versus the British pound As you can see here, it's had a fairly decent floor in around zero spot 86 98 these two are just this a line between these two nodes here was also a fairly steady Uh series of lower highs So we're kind of trapped in a fairly tight range on this particular currency pair And uh in terms of areas to keep an eye out for if the last few sessions we have seen that the uh the currency pair Head towards the higher end of the range that we've been recently and that's been corresponded or being affirmed with increase in positive momentum So should we move higher on from here? We could be looking at trying to get zero spot 89 or zero spot 89 29 And if you go north to zero spot 89 29 and take off the january high We could be looking at heading up up to zero spot 90 But if you kind of keep in if you keep in the recent trend of lower highs We could be looking ahead back back down towards zero spot 88 or potentially even back down towards the uh the 2018 low And also the december low of zero spot 86 89 I'll take a look now at the U.F. Donner versus the japanese yen So just before we get onto to dollar yen. Are there any other markets you'd like me to cover outside of sterling yet? Feel free to just type in the in the chat box So take a look at dollar yen as I mentioned in my talk with the fed and reserve Uh, this has been a bounce back in the U.F. Donner The sphere as we could have full rate rises from the united states in 2018 Uh, what we've seen here on the dollar versus the versus the end of basically since november has been a fairly steady downward trend Um, as you can see, you know lower low here lower high lower low lower high lower low So as you can see only on last thursday Sorry, that's fine or neither It we haven't seen the uh The u.s. Donner Full to the level of versus japanese yen since september So talking basically about a five-month low and the dollar yen was achieved only uh Back end of last week So that can also sums up what the kind of the recent trend has been has clearly clearly been to the downside If we continue to push on lower from here We could be looking at taking out one away And if you take out one away, then everyone's going to keep an eye on beyond that Potentially be the september low of 107 and 32 And then of course if you go below that we've been looking at heading back towards multi-year lows or multi-week lows heading back down towards Levels not since this day 2016. So we could be looking at heading back down towards 106 But should we kind of snap out of the downward trend? I shouldn't should mark I'm actually look to push on higher from here It would be areas that potentially could run into resistance might be in a one or nine 77 As you can see your active resistance on a couple of occasions at the beginning of the month Then if you go north of that we could be looking at heading up towards one 1084 One 1084 being the low from november and the as I said What actors as support of the past may act as resistance in the future But really the big level to keep an eye on for on dolly end of the upside Will of course be the maturity moving average at 111 spot 62 Notice on a few a number of okay when the market was beginning as kind of this this descent in 2018 It traded through the journey moving average was it hung around the area on a couple of occasions it acted as resistance on a couple of occasions So it does have experience Looking at acting as resistance and for that reason it could active resistance again in the future I'll just have a look now at the comments that you guys are writing yep Dollar swissie and dollar can yep shirt in the waist. I just have a look at those now I got on to sterling yen first of all Just taking a quick glance at starting again. See what the kind of wider picture has been so since late 2018 october 2018 sterling yen has been in effect not obvious, but it's been in the Inter-upper trend so the kind of wider picture the wider view has it's been to the offside on the south pound versus the Japanese yen Turn it over now to a daily chart So it's also once again fairly evident even though we've seen some quite wide swings It's still kind of higher highs and higher lows on the dollar versus the Japanese yen So we had a fairly decent sell-off since the beginning of february and as the market's been selling off We've seen the fairly steady steady increase in negative momentum. So the momentum is coming with the seller So this this downward move that we are seeing could last so if we move if we continue to move south from here Because if you tread itself to the one-day moving average It appears to be running into resistance at the one-day moving average in around 150 spot 89 If we if we hold south of that level of that metric the next level to keep an eye for the downside could be the recent though Of 149 spot zero zero And then south of that back down towards the 30 moving average at 147 spot 54 And then if you go below that area We could be looking heading back down towards say 145 ish But if you do manage to retake the fifth at the one-day moving average Next big level to keep an eye on forward to the upside Will this be this this spike here, which is which was created already last thursday at 154 spot zero four If you take off that that higher there that could be kind of confirmation Potentially that the market is going to resume the upper trend that we've been in And then we could be like you're heading up back up towards in the direction of 157 and then 158 and so on That is i'm going to cover these couple of as it's uh We've got five minutes over over the over the over the over schedule, which is no hassle, but i'll cover daughter daughter swissie and daughter cad and then live to wrap things up So we can see here that the us daughter has been in a fairly downward trend versus the swiss franc over the past year or so And then more recently the the sell-off have really has accelerated So the big picture kind of the big picture trend is to the downside of what we're seeing here is We are seeing a bit of a bounce back. So the market is just pushing higher Uh, we're recouping some of the losses momentum has swung from firmly being in the red uh into positive territory now So we are seeing the market bounce back from these levels But the question is are we going to bounce back running into some resistance and then turn over on itself Then look to retest the recent lows and then print lower lows or is this going to be a move that actually Snaps out of the downward trend. So Notice here how first thing I see in this price area here in around zero spot the recent the recent high Which is achieved only last wednesday at a zero spot 45 94 94 94 70 notice how this this price area here Kind of coincides with the bit the lows from july and august and september So it's running through resistance. It's pushing higher here Notice how it's ran into the end. What was the previously support? And now we've actually been kind of shut it lower yet again So even though we are moving higher We kind of you really would need to see it at the very least and move Move north of zero spot nine five zero zero To kind of get the indication that you know, we are slapping on of it Beyond that we then we could then be looking up towards that the The january highs of in around zero spot 96 68 and then up towards the turning moving average in a zero spot 97 17 So we've got a few hurdles they can over before we can actually look at Assuming that the downward trend is over Move to the downside if the market does manage fails to clear zero spot nine five or a zero spot nine six The market could turn over on itself yet again because it's been in a fairly doubt Pretty obvious downward trend for the past year at least areas to keep an eye for the downside will of course the first ever keep an eye on four Will be the recent low of zero spot nine two 56 and then looking back down towards zero zero spot nine two itself I'm just going to wrap up things now with the u.s Dollar and the canadian dollar in terms of its charting and then I'll show you a couple of things on our platform Selecting now at the u.s. Dollar versus the canadian dollar So the big picture has been the dollar card as we move into the downside Notice how here though that the market was in a lower trend And it has managed to kind of push higher So the low here fails to take out the recent low here in september So this could be that the point where the dollar looks to kind of push higher I guess the canadian dollar And as you can see in in february the markets be pushing higher and that's also be confirmed Uh at the mcd in histogram We've seen a fairly steady increase in positive momentum if the market's pushing higher from here We really would need to kind of move north of say the one at 26 66 level or 127 level I think I can be more confident that this upward trend has gone last I should be moved north of that with anybody You would like to see the utility moving average at 127 and 59 being taken out Notice how in december the market rallied towards the utility moving average didn't quite get there And then ran out of steam and then with then went down a fairly decisive downward move If the market can't Maintain it is positive momentum that manages to turn over itself yet again We could be linking any effect down towards 125 and then south of that 126 and then the recent lows Which were created only a few days ago at 122 57 And then if you move south of that we could be linking any back towards september low of 120 61 So that's it in terms of actual markets are actually covered while you're here I just want to show you a couple of things on our on our trading platform Some of the updates that myself and my fellow market analysts here at seriously markets do get updated on insights Insights can be found on a market pulse second option down is insights We're also going to be talking about we also do updates throughout the day in terms of economic data releases or through any central bank updates any kind of particular important comments They'll get put on insight Also, there's going to be recording of this webinar posted on inside within the next hour or so On top of that as a as a in a similar vein to what I've just done on the webinar itself In the chart forum section, which is under market pulse third option down chart forum every day myself My colleagues here at cmc markets Will we'll do a few chart form updates or why would we take a particular chart? We think it's interesting. We write a few words about it We map out potential potentially important levels in terms of price action to keep a mile forum On our platform on the actual website. It's our rather On cmc markets.com if you go to the news and analysis section This is which I've already highlighted here It gives you a breakdown some of the updates that we do in terms of written content gets posted here to our the news analysis section Some of that gets posted to the inside and and some of it goes on both So feel free to keep an eye and reach through the articles that are that are posted around the globe from myself and market analysts in other offices And also on the the learn tab if you take a look at the webinars and events Where you found out where you found the the update for this webinar Just to let you know on wednesday the 14th of february at 1930 gmt half 7 p.m. UK time your webinar covering Live trading key global indices and then of course next monday. I'll be back in the hot seat Do the 12 15 monday market update Now the monday the 19th of february and then of course on wednesday the 21st of february at 7 p.m 7 30 p.m. UK time 1930 gmt We also have having another webinar a guide to modern technical analysis So please feel free to sign up to future webinars I do want to thank you for your time and your patience. I hope you found this webinar interesting and informative And from us here at CMC markets this week. I hope you have a good day and a good training week. Thank you very much