Jiming Huang / Blog
The FOMC minutes showed that risks related to global trade and growth were diminished after the signature of the phase-one deal between the US and China, but other risks emerged, including the coronavirus outbreak...
In the FX, the euro sales gained momentum after the German Gfk consumer climate data showed deterioration in economic sentiment in Germany versus no change expected. Further weakness in German data boosted the euro bears and paved the way for a deeper sell-off to 1.0777 against the US dollar...
Pivot (invalidation): 53.30 Our preference Long positions above 53.30 with targets at 54.10 & 54.40 in extension. Alternative scenario...
Pivot (invalidation): 18.2000 Our preference Long positions above 18.2000 with targets at 18.5400 & 18.6400 in extension. Alternative scenario...
Pivot (invalidation): 1603.00 Our preference Long positions above 1603.00 with targets at 1616.00 & 1620.00 in extension. Alternative scenario...
Pivot (invalidation): 3400.00 Our preference Short positions below 3400.00 with targets at 3373.00 & 3355.00 in extension. Alternative scenario...
Pivot (invalidation): 13800.00 Our preference Short positions below 13800.00 with targets at 13750.00 & 13710.00 in extension. Alternative scenario...
Pivot (invalidation): 6.0700 Our preference Long positions above 6.0700 with targets at 6.0950 & 6.1030 in extension. Alternative scenario...
Pivot (invalidation): 0.6660 Our preference Short positions below 0.6660 with targets at 0.6615 & 0.6600 in extension. Alternative scenario...