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Pivot (invalidation): 1.2735 Our preference Short positions below 1.2735 with targets at 1.2670 & 1.2640 in extension. Alternative scenario Above 1.2735 look for further upside with 1.2780 & 1.2820 as targets...
Pivot (invalidation): 1.1380 Our preference Short positions below 1.1380 with targets at 1.1290 & 1.1250 in extension. Alternative scenario Above 1.1380 look for further upside with 1.1430 & 1.1480 as targets...
UK unemployment should fall further toward 4% (expect 4.1%). Wage growth should stagnate at 2.7%. Rising inflation should give the Bank of England confidence to raise rates in August. However, European growth concerns and Brexit uncertainty should keep the BoE sidelined for the rest of the year...
As emerging-market currencies quake, now could be an opportunity to bargain hunt. Turkey has bounced back: the market has lost its appetite for pushing TRY further, as USD/TRY 1 month at-the-money volatility stands at a whopping 60...
Pivot (invalidation): 6300 Our preference Short positions below 6300 with targets at 5825 & 5560 in extension. Alternative scenario Above 6300 look for further upside with 6455 & 6630 as targets...
Pivot (invalidation): 67.60 Our preference Short positions below 67.60 with targets at 66.95 & 66.50 in extension. Alternative scenario Above 67.60 look for further upside with 67.95 & 68.50 as targets...
Pivot (invalidation): 15.1800 Our preference Short positions below 15.1800 with targets at 14.8800 & 14.7700 in extension. Alternative scenario Above 15.1800 look for further upside with 15.3000 & 15.3900 as targets...
Pivot (invalidation): 1201.00 Our preference Short positions below 1201.00 with targets at 1189.00 & 1184.50 in extension. Alternative scenario Above 1201.00 look for further upside with 1206.00 & 1290.50 as targets...
Pivot (invalidation): 1.1360 Our preference Short positions below 1.1360 with targets at 1.1310 & 1.1280 in extension. Alternative scenario Above 1.1360 look for further upside with 1.1415 & 1.1450 as targets...
Pivot (invalidation): 0.8945 Our preference Short positions below 0.8945 with targets at 0.8925 & 0.8910 in extension. Alternative scenario Above 0.8945 look for further upside with 0.8960 & 0.8980 as targets...
Pivot (invalidation): 0.7290 Our preference Short positions below 0.7290 with targets at 0.7250 & 0.7225 in extension. Alternative scenario Above 0.7290 look for further upside with 0.7325 & 0.7360 as targets...
Pivot (invalidation): 1.3145 Our preference Short positions below 1.3145 with targets at 1.3100 & 1.3070 in extension. Alternative scenario Above 1.3145 look for further upside with 1.3170 & 1.3200 as targets...
Pivot (invalidation): 0.9945 Our preference Short positions below 0.9945 with targets at 0.9925 & 0.9910 in extension. Alternative scenario Above 0.9945 look for further upside with 0.9960 & 0.9975 as targets...
Pivot (invalidation): 110.55 Our preference Long positions above 110.55 with targets at 110.95 & 111.20 in extension. Alternative scenario Below 110.55 look for further downside with 110.30 & 110.10 as targets...
Pivot (invalidation): 1.2790 Our preference Short positions below 1.2790 with targets at 1.2740 & 1.2720 in extension. Alternative scenario Above 1.2790 look for further upside with 1.2820 & 1.2850 as targets...
Pivot (invalidation): 1.1430 Our preference Short positions below 1.1430 with targets at 1.1385 & 1.1365 in extension. Alternative scenario Above 1.1430 look for further upside with 1.1480 & 1.1515 as targets...
USDJPY: The pair looks to extend further recovery higher as more strength is likely. On the downside, support lies at the 110.50 level where a break if seen will aim at the 110.00 level. A cut through here will turn focus to the 109.50 level and possibly lower towards the 109.00 level...
As contagion continues in emerging markets, the South African rand is no exception. Depreciating by 16% against the greenback since the beginning of the year, USD/ZAR’s steep rise from last Thursday (7...
