Jiming Huang / Profil

Equities in Tokyo (+2.10%) and Shanghai (+1.08%) kicked off the week on a positive note on the back of promising economic data. The Japanese GDP printed 2.2% y-o-y contraction in the second quarter versus -4.4% expected by analysts and the manufacturing PMI, 45...

Pivot (invalidation): 39.65 Our preference Long positions above 39.65 with targets at 40.45 & 40.70 in extension. Alternative scenario Below 39.65 look for further downside with 39.40 & 39.00 as targets...

Pivot (invalidation): 24.0000 Our preference Long positions above 24.0000 with targets at 24.6200 & 24.9500 in extension. Alternative scenario Below 24.0000 look for further downside with 23.5400 & 23.2500 as targets...

Pivot (invalidation): 1970.00 Our preference Long positions above 1970.00 with targets at 1981.50 & 1988.00 in extension. Alternative scenario Below 1970.00 look for further downside with 1959.00 & 1951.50 as targets...

Pivot (invalidation): 3236.00 Our preference Long positions above 3236.00 with targets at 3280.00 & 3329.00 in extension. Alternative scenario Below 3236.00 look for further downside with 3205.00 & 3180.00 as targets...

Pivot (invalidation): 12260.00 Our preference Long positions above 12260.00 with targets at 12405.00 & 12525.00 in extension. Alternative scenario Below 12260.00 look for further downside with 12100.00 & 12000.00 as targets...

Pivot (invalidation): 6.9550 Our preference Long positions above 6.9550 with targets at 7.0070 & 7.0250 in extension. Alternative scenario Below 6.9550 look for further downside with 6.9350 & 6.9170 as targets...

Pivot (invalidation): 0.7160 Our preference Short positions below 0.7160 with targets at 0.7105 & 0.7085 in extension. Alternative scenario Above 0.7160 look for further upside with 0.7185 & 0.7200 as targets...

Pivot (invalidation): 1.3435 Our preference Short positions below 1.3435 with targets at 1.3370 & 1.3350 in extension. Alternative scenario Above 1.3435 look for further upside with 1.3460 & 1.3480 as targets...

Pivot (invalidation): 0.9120 Our preference Long positions above 0.9120 with targets at 0.9170 & 0.9185 in extension. Alternative scenario Below 0.9120 look for further downside with 0.9095 & 0.9070 as targets...

Pivot (invalidation): 105.70 Our preference Long positions above 105.70 with targets at 106.40 & 106.70 in extension. Alternative scenario Below 105.70 look for further downside with 105.45 & 105.25 as targets...

Pivot (invalidation): 1.3120 Our preference Short positions below 1.3120 with targets at 1.3055 & 1.3020 in extension. Alternative scenario Above 1.3120 look for further upside with 1.3170 & 1.3220 as targets...

Pivot (invalidation): 1.1800 Our preference Short positions below 1.1800 with targets at 1.1740 & 1.1715 in extension. Alternative scenario Above 1.1800 look for further upside with 1.1820 & 1.1850 as targets...

But the EURUSD extended gains to 1.19 and the GBPUSD surged to 1.3142 on the back of a further USD sell-off. The euro and sterling’s stretched rally should not be misunderstood, however, as the severe debasement in the greenback is responsible for most of the recent gains...

The US GDP fell 32.5% in the second quarter, the highest on record but slightly less than analyst estimates. The US dollar index slid below the 93 mark as the 10-year yield dipped to 0.525%. The US equities were mostly down, as energy stocks led losses...

Pivot (invalidation): 39.90 Our preference Long positions above 39.90 with targets at 40.45 & 40.70 in extension. Alternative scenario Below 39.90 look for further downside with 39.50 & 39.15 as targets...

Pivot (invalidation): 23.2500 Our preference Long positions above 23.2500 with targets at 23.7300 & 24.0800 in extension. Alternative scenario Below 23.2500 look for further downside with 22.8900 & 22.5700 as targets...

Pivot (invalidation): 1954.00 Our preference Long positions above 1954.00 with targets at 1981.00 & 1990.00 in extension. Alternative scenario Below 1954.00 look for further downside with 1946.00 & 1938.50 as targets...

Pivot (invalidation): 3227.00 Our preference Long positions above 3227.00 with targets at 3279.00 & 3303.00 in extension. Alternative scenario Below 3227.00 look for further downside with 3205.00 & 3180.00 as targets...

Pivot (invalidation): 12525.00 Our preference Short positions below 12525.00 with targets at 12260.00 & 12100.00 in extension. Alternative scenario Above 12525.00 look for further upside with 12745.00 & 12860.00 as targets...