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EURUSD rallies strongly with eyes on 1.1051 area as it looks for more recovery. Support comes in at the 1.0950 where a break will turn risk to the 1.0900 level. A breach below here will target the 1.0850 level. Further down, support stands at the 1.0800...
CIO had previously expected the US to expand 1.8%, China, 5.8%, and the Eurozone, 1%. But the impact of the higher tariffs imposed by the US on Chinese goods – in stages on 1 September, 1 October and 15 December – will hit both consumers and companies by the first half of 2020...
Forecasting Brexit has gone from hard-to-impossible. The fluid, politically charged situation means scenarios changes with the news cycle. Times like this we would just like some popcorn to watch the action from the sidelines. It looks like the UK is heading for another useless extension...
Pivot (invalidation): 53.65 Our preference Long positions above 53.65 with targets at 54.60 & 55.00 in extension. Alternative scenario...
Pivot (invalidation): 19.1600 Our preference Long positions above 19.1600 with targets at 19.5900 & 19.7500 in extension. Alternative scenario...
Pivot (invalidation): 1539.00 Our preference Long positions above 1539.00 with targets at 1550.00 & 1555.00 in extension. Alternative scenario...
Pivot (invalidation): 2940.00 Our preference Short positions below 2940.00 with targets at 2890.00 & 2865.00 in extension. Alternative scenario...
Pivot (invalidation): 11945.00 Our preference Short positions below 11945.00 with targets at 11870.00 & 11840.00 in extension. Alternative scenario...
Pivot (invalidation): 5.7520 Our preference Short positions below 5.7520 with targets at 5.7160 & 5.6950 in extension. Alternative scenario...
Pivot (invalidation): 0.6755 Our preference Long positions above 0.6755 with targets at 0.6800 & 0.6815 in extension. Alternative scenario...
Pivot (invalidation): 1.3345 Our preference Short positions below 1.3345 with targets at 1.3310 & 1.3300 in extension. Alternative scenario...
Pivot (invalidation): 0.9890 Our preference Short positions below 0.9890 with targets at 0.9850 & 0.9825 in extension. Alternative scenario...
Pivot (invalidation): 106.10 Our preference Short positions below 106.10 with targets at 105.70 & 105.55 in extension. Alternative scenario...
Pivot (invalidation): 1.2070 Our preference Long positions above 1.2070 with targets at 1.2135 & 1.2170 in extension. Alternative scenario...
Pivot (invalidation): 1.0950 Our preference Long positions above 1.0950 with targets at 1.0995 & 1.1025 in extension. Alternative scenario...
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AUDUSD faces recovery threats on lower price rejection ahead of its key support. On the upside, resistance lies at the 1.6750 level. A cut through here will turn focus to the 0.6800 level and then the 0.6900 level where a violation will set the stage for a retarget of the 0.6850 level...
As broadly expected the Reserve Bank of Australia left the Official Cash rate at record low 1% at its September meeting...
Today, FX traders are now intensely focused on UK. Like a car-crash its hard to take your eyes off the chaos. PM Johnsons masterful strategy to shorten parliament’s chance to define Brexit, was pure political theatrics...
