Jiming Huang / Blog
Pivot (invalidation): 5.7000 Our preference Long positions above 5.7000 with targets at 5.7400 & 5.7540 in extension. Alternative scenario Below 5.7000 look for further downside with 5.6770 & 5.6600 as targets...
Pivot (invalidation): 0.7005 Our preference Short positions below 0.7005 with targets at 0.6965 & 0.6945 in extension. Alternative scenario Above 0.7005 look for further upside with 0.7020 & 0.7035 as targets...
Pivot (invalidation): 1.3145 Our preference Short positions below 1.3145 with targets at 1.3115 & 1.3100 in extension. Alternative scenario Above 1.3145 look for further upside with 1.3165 & 1.3185 as targets...
Pivot (invalidation): 0.9845 Our preference Long positions above 0.9845 with targets at 0.9875 & 0.9890 in extension. Alternative scenario Below 0.9845 look for further downside with 0.9825 & 0.9800 as targets...
Pivot (invalidation): 108.00 Our preference Long positions above 108.00 with targets at 108.35 & 108.60 in extension. Alternative scenario Below 108.00 look for further downside with 107.80 & 107.60 as targets...
Pivot (invalidation): 1.2455 Our preference Short positions below 1.2455 with targets at 1.2415 & 1.2400 in extension. Alternative scenario Above 1.2455 look for further upside with 1.2480 & 1.2500 as targets...
Pivot (invalidation): 1.1165 Our preference Short positions below 1.1165 with targets at 1.1120 & 1.1105 in extension. Alternative scenario Above 1.1165 look for further upside with 1.1185 & 1.1205 as targets...
This Thursday ECBs governing council will signal a willingness to ease further. However, there are numerous agreements for a proactive 10bp to 20bp deposit rate cut. We have still expected the first cut of 10bp in September...
News that policymakers in the US have struck a deal to increase the $22tn debt ceiling was viewed as a risk positive by equity markets. The deal reduced the risk of a default and increased the likelihood of fiscal stimulus...