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Yesterday, solid US non-manufacturing ISM supported growing risk appetite alongside easing U.S. China trade tensions. Global bond markets are correcting, equity markets are higher and safe-haven currencies in USD, JPY and CHF are weaker...
Pivot (invalidation): 56.70 Our preference Short positions below 56.70 with targets at 55.85 & 55.25 in extension. Alternative scenario...
Pivot (invalidation): 18.8400 Our preference Short positions below 18.8400 with targets at 18.4500 & 18.1500 in extension. Alternative scenario...
Pivot (invalidation): 1528.00 Our preference Short positions below 1528.00 with targets at 1506.00 & 1498.00 in extension. Alternative scenario...
Pivot (invalidation): 2943.00 Our preference Long positions above 2943.00 with targets at 3000.00 & 3029.00 in extension. Alternative scenario...
Pivot (invalidation): 12070.00 Our preference Long positions above 12070.00 with targets at 12150.00 & 12215.00 in extension. Alternative scenario...
Pivot (invalidation): 5.6760 Our preference Long positions above 5.6760 with targets at 5.7000 & 5.7150 in extension. Alternative scenario...
Pivot (invalidation): 0.6825 Our preference Short positions below 0.6825 with targets at 0.6800 & 0.6780 in extension. Alternative scenario...
Pivot (invalidation): 1.3215 Our preference Long positions above 1.3215 with targets at 1.3245 & 1.3260 in extension. Alternative scenario...
Pivot (invalidation): 0.9845 Our preference Long positions above 0.9845 with targets at 0.9880 & 0.9900 in extension. Alternative scenario...
Pivot (invalidation): 106.75 Our preference Long positions above 106.75 with targets at 107.20 & 107.50 in extension. Alternative scenario...
Pivot (invalidation): 1.2290 Our preference Long positions above 1.2290 with targets at 1.2355 & 1.2400 in extension. Alternative scenario...
Pivot (invalidation): 1.1050 Our preference Short positions below 1.1050 with targets at 1.1020 & 1.1005 in extension. Alternative scenario...
GBPJPY Follows Through Higher On Price Extension...
Forecasting Brexit has gone from hard to impossible. The fluid, politically charged situation means probability scenario changes with the news cycle. Time like this we would just like some popcorn to watch the action from the sidelines...
The politicization of the Fed is nothing new. But has taken a worry turn under Trump policy via tweet. The divergence growth outlook leave plenty of room for interpretation...
In our view, the media & market is circulating a false narrative regarding relationship between President Trump reelections prospect and US growth. The thinking goes that a weaker economy will lower Trumps changes for a second term...
Pivot (invalidation): 55.80 Our preference Long positions above 55.80 with targets at 56.90 & 57.30 in extension. Alternative scenario...
