Theresa May got her wish, in recent weeks, European Union leaders have granted the UK a six-month extension to Brexit. However, with each delay/extension the risk of a “no deal” increases. Theresa, who had wanted a shorter delay, said the UK would still aim to leave the EU as soon as possible. Any suggestion that a ‘no deal’ Brexit will be entirely avoided would typically be associated with a strong rally in the British Pound.
In its first monetary policy for the financial year 2019, the Reserve Bank Of India central bank slashed the repo rate by 25 basis points to 6% due to the domestic economy is facing headwinds. For example the industrial production in India expanded by just 1.7% in January vs. 7.5% growth a year ago.
Monthly Chart (Curve Timeframe) – monthly supply is at 101.0000 and monthly demand is at 86.0000.
Weekly Chart (Trend Timeframe) – the trend is sideways.
Daily Chart (Entry) – the chart suggests to go long, if and when price falls to the daily demand at 87.4000 with a target at 97.0000.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.