BRUSSELS (Reuters) - 1. The European Council takes note of the letter of Prime Minister Theresa May of 20 March 2019.
2. In response, the European Council approves the Instrument relating to the Withdrawal Agreement and the Joint Statement supplementing the Political Declaration agreed between the European Commission and the government of the United Kingdom in Strasbourg on 11 March 2019.
3. The European Council agrees to an extension until 22 May 2019, provided the Withdrawal Agreement is approved by the House of Commons next week. If the Withdrawal Agreement is not approved by the House of Commons next week, the European Council agrees to an extension until 12 April 2019 and expects the United Kingdom to indicate a way forward before this date for consideration by the European Council.
4. The European Council reiterates that there can be no opening of the Withdrawal Agreement that was agreed between the Union and the United Kingdom in November 2018. Any unilateral commitment, statement or other act should be compatible with the letter and the spirit of the Withdrawal Agreement.
5. The European Council calls for work to be continued on preparedness and contingency at all levels for the consequences of the United Kingdom’s withdrawal, taking into account all possible outcomes.
6. The European Council will remain seized of the matter.
DAX 30
A hanging man after an evening star 3-candle combination (which has a shooting star spike high at its centre) yet trend line support is holding and momentum is still bullish. Let’s see where we close tonight before deciding whether an interim high is in place.
SHORT TERM TRADER: Short at 11600; stop well above 11800. First target 10800.
POSITION TAKER: Short at 11550; stop above 11825. Target 11000.
FTSE 100
Ironically one of the few stock indices inching higher yesterday, retracing a Fibonacci 61 per cent of last year’s sump, and becoming more overbought than it has been since May’s record high.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
S&P 500
Overbought again as we close at a new high for this year.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Not surprising that this currency pair is subject to sudden swoons as an increasingly thin trading community becomes even more skittish.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
EURO/US DOLLAR
An inside day yesterday helped keep current higher levels of bullish momentum.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
GOLD
Believe it or not we also have an inside day here – because the body of yesterday’s candle lies inside Wednesday’s.
SHORT TERM TRADER: Square.
POSITION TAKER: Short at 1328; stop above 1320. Target 1255.
