Jiming Huang / Blog
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...