Jiming Huang / Blog
Pivot (invalidation): 0.6860 Our preference Long positions above 0.6860 with targets at 0.6885 & 0.6905 in extension. Alternative scenario Below 0.6860 look for further downside with 0.6845 & 0.6830 as targets...
Pivot (invalidation): 1.3395 Our preference Short positions below 1.3395 with targets at 1.3360 & 1.3345 in extension. Alternative scenario Above 1.3395 look for further upside with 1.3415 & 1.3430 as targets...
Pivot (invalidation): 0.9990 Our preference Long positions above 0.9990 with targets at 1.0025 & 1.0045 in extension. Alternative scenario Below 0.9990 look for further downside with 0.9975 & 0.9960 as targets...
Pivot (invalidation): 108.35 Our preference Long positions above 108.35 with targets at 108.70 & 108.90 in extension. Alternative scenario Below 108.35 look for further downside with 108.20 & 108.05 as targets...
Pivot (invalidation): 1.2540 Our preference Long positions above 1.2540 with targets at 1.2580 & 1.2600 in extension. Alternative scenario Below 1.2540 look for further downside with 1.2510 & 1.2490 as targets...
Pivot (invalidation): 1.1210 Our preference Short positions below 1.1210 with targets at 1.1180 & 1.1160 in extension. Alternative scenario Above 1.1210 look for further upside with 1.1225 & 1.1240 as targets...
Speaking of oil, we expected the Norges banks to raise policy rates by 25bp. The Interest rate path from March meeting explicitly commits to a hike. Yet, the policy adjustment is likely to be a ‘dovish hike’, considering the negative macro backdrop...
Clearly, we are not in the 1990’s were the smallest disturbance in the middle-east would cause chaos in energy markets. Tension is rising in the Gulf region as attacks on two tankers near the Strait of Hormuz have put the US and Iran on a collision course...
Trade uncertainties, Trump’s pressure to cut interest rate and weakening economic data: all seems blurred as to how the Fed should react. Market interpretation should play an important role in the future development of the greenback as well...