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USDCHF backs off lower prices with eyes on 1.0024 zone. Resistance stands at the 1.0050 level. A break of there will clear the way for a run at the 1.0100 level. Above here, resistance lies at the 1.0150 level and then the 1.0200 level. On the downside, support is seen at the 0.9950 level...
Asian stocks were higher across the board Friday as the MSC Index said it would increase weightings of Chinese mainland shares in its EM index, which is followed by over USD 2 trillion of assets. This is a meaningful shift: EM stocks and FX responds to flows...
Recent developments have shifted the US back into « goldilocks » conditions for stock prices. Historically, stocks rally in environments with: 1) weak inflation trend 2) low interest rates 3) stable monetary policy 4) solid economic growth and 5) improved outlook for corporate earnings growth...
Asian stocks were higher across the board today as the MSC Index said it would increase weightings of Chinese mainland shares in its EM index, which is followed by over USD 2 trillion of assets. This is a meaningful shift: EM stocks and FX responds to flows...
The Bank of Japan says that inflation is accelerating and does not need expansive monetary policy, but the economy is expected to weaken further. GDP growth was 0% for 2018, including a contraction of -2.60% in Q3. Momentum is fading: the manufacturing PMI fell for the first time in 2.5 years...
Pivot (invalidation): 56.85 Our preference Long positions above 56.85 with targets at 57.80 & 58.60 in extension. Alternative scenario Below 56.85 look for further downside with 56.40 & 56.05 as targets...
Pivot (invalidation): 15.7200 Our preference Short positions below 15.7200 with targets at 15.4700 & 15.4000 in extension. Alternative scenario Above 15.7200 look for further upside with 15.8300 & 15.9100 as targets...
Pivot (invalidation): 1320.00 Our preference Short positions below 1320.00 with targets at 1310.00 & 1305.00 in extension. Alternative scenario Above 1320.00 look for further upside with 1324.00 & 1327.50 as targets...
Pivot (invalidation): 2803.00 Our preference Short positions below 2803.00 with targets at 2775.25 & 2764.00 in extension. Alternative scenario Above 2803.00 look for further upside with 2814.00 & 2831.00 as targets...
Pivot (invalidation): 11450.00 Our preference Long positions above 11450.00 with targets at 11540.00 & 11591.00 in extension. Alternative scenario Below 11450.00 look for further downside with 11410.00 & 11360.00 as targets...
Pivot (invalidation): 5.3280 Our preference Long positions above 5.3280 with targets at 5.3500 & 5.3640 in extension. Alternative scenario Below 5.3280 look for further downside with 5.3175 & 5.3080 as targets...
Pivot (invalidation): 0.7120 Our preference Short positions below 0.7120 with targets at 0.7065 & 0.7050 in extension. Alternative scenario Above 0.7120 look for further upside with 0.7145 & 0.7165 as targets...
Pivot (invalidation): 1.3135 Our preference Long positions above 1.3135 with targets at 1.3205 & 1.3235 in extension. Alternative scenario Below 1.3135 look for further downside with 1.3115 & 1.3095 as targets...
Pivot (invalidation): 0.9965 Our preference Long positions above 0.9965 with targets at 0.9995 & 1.0015 in extension. Alternative scenario Below 0.9965 look for further downside with 0.9945 & 0.9920 as targets...
Pivot (invalidation): 111.25 Our preference Long positions above 111.25 with targets at 112.00 & 112.25 in extension. Alternative scenario Below 111.25 look for further downside with 111.05 & 110.80 as targets...
Pivot (invalidation): 1.3290 Our preference Short positions below 1.3290 with targets at 1.3230 & 1.3190 in extension. Alternative scenario Above 1.3290 look for further upside with 1.3320 & 1.3350 as targets...
Pivot (invalidation): 1.1395 Our preference Short positions below 1.1395 with targets at 1.1355 & 1.1335 in extension. Alternative scenario Above 1.1395 look for further upside with 1.1420 & 1.1440 as targets...
GOLD remains vulnerable with eyes key support at 1,302.00 zone. On the downside, support comes in at the 1,310.00 level where a break will turn attention to the 1,300.00 level. Further down, a cut through here will open the door for a move lower towards the 1,290.00 level...
