USDCAD broader bias remains higher towards 1.3383 zone. Support lies at the 1.3300 level where a violation will aim at the 1.3250 level. Further down, support comes in at the 1.3200 level where a break lower may occur. This if seen will trigger further weakness towards the 1.3150 level...
We set out our longer-term outlook for US-China trade relations applicable up to the November 2020 presidential election in our latest Global Risk Radar publication. Our base case, to which we assign a 50% probability, is for only modest progress in this round of talks...
The growth of the Eurozone economy has been weakening since the beginning of 2018, which forces the ECB to actively support the European economy, lowering the interest rate and expanding quantitative easing...
Pivot (invalidation): 52.80 Our preference Short positions below 52.80 with targets at 52.15 & 51.80 in extension. Alternative scenario...
Pivot (invalidation): 17.6100 Our preference Long positions above 17.6100 with targets at 17.8500 & 18.0000 in extension. Alternative scenario...
Pivot (invalidation): 1498.00 Our preference Long positions above 1498.00 with targets at 1516.00 & 1519.50 in extension. Alternative scenario...
Pivot (invalidation): 2920.50 Our preference Short positions below 2920.50 with targets at 2878.00 & 2856.00 in extension. Alternative scenario...
Pivot (invalidation): 12055.00 Our preference Short positions below 12055.00 with targets at 11880.00 & 11804.00 in extension. Alternative scenario...
Pivot (invalidation): 5.8150 Our preference Long positions above 5.8150 with targets at 5.8500 & 5.8720 in extension. Alternative scenario...
Pivot (invalidation): 0.6720 Our preference Long positions above 0.6720 with targets at 0.6755 & 0.6765 in extension. Alternative scenario...
Pivot (invalidation): 1.3335 Our preference Short positions below 1.3335 with targets at 1.3300 & 1.3285 in extension. Alternative scenario...
Pivot (invalidation): 0.9950 Our preference Short positions below 0.9950 with targets at 0.9915 & 0.9900 in extension. Alternative scenario...
Pivot (invalidation): 106.95 Our preference Long positions above 106.95 with targets at 107.30 & 107.45 in extension. Alternative scenario...
Pivot (invalidation): 1.2240 Our preference Short positions below 1.2240 with targets at 1.2195 & 1.2180 in extension. Alternative scenario...
Pivot (invalidation): 1.0950 Our preference Long positions above 1.0950 with targets at 1.0975 & 1.0985 in extension. Alternative scenario...
GBPJPY looks to weaken further on price sell off as it retains its broader medium term weakness. On the downside, support comes in at the 130.50 level where a violation will aim at the 130.00 level. A break below here will target the 129.50 level followed by the 129.00 level...
Pivot (invalidation): 53.35 Our preference Short positions below 53.35 with targets at 52.55 & 52.20 in extension. Alternative scenario...
Pivot (invalidation): 17.5000 Our preference Short positions below 17.5000 with targets at 17.2700 & 17.1700 in extension. Alternative scenario...
Pivot (invalidation): 1500.00 Our preference Short positions below 1500.00 with targets at 1482.00 & 1474.50 in extension. Alternative scenario...
